US to early recognise Vietnam’s rules on catfish management

The US Department of Agriculture (USDA) is working hard with a view to early recognizing Vietnam’s regulatory system on catfish management to be equivalent to that of the US, said first Deputy Secretary of USDA Stephen Censky. 

Censky affirmed this at a meeting on June 26 with Vietnamese Deputy Prime Minister Vuong Dinh Hue, who is on an official visit to the US from June 25-27.

For his part, the Vietnamese Government leader stressed that Vietnam considers the United States an important trading partner.

He proposed that the USDA sign a framework agreement on agriculture cooperation with Vietnam’s Ministry of Agriculture and Rural Development (MARD), and asked the US agency to be flexible in the process of equivalence assessment and facilitate Vietnam’s catfish export to the US.

The two countries should enhance joint work in smart agriculture, development of low-emission agriculture production models and models for adapting to and mitigating climate change in highly vulnerable areas such as the Red River and Mekong Deltas of Vietnam, Hue stressed.

He urged the US side to accelerate the import of mango of Vietnam and consider importing other fruits, firstly pomelo.

Censky thanked the Vietnamese leader for his efforts to promoting agricultural cooperation between the two countries, saying that the US would begin importing star apple and is completing final procedures for importing mango from Vietnam.

The USDA will work with the MARD to discuss measures to implement Deputy PM Hue’s proposals, especially the import of pomelo in the coming time, he said.

He also asked Vietnam to consider importing US fruits such as blueberries and other citrus fruits.

Bac Giang earns 5.4 trillion VND from lychees

n province of Bac Giang has so far sold 191,000 tonnes of lychees for over 5.4 trillion VND (236.8 million USD), according to the provincial Department of Industry and Trade.

Of the figure, about 3.26 trillion VND was from lychee sales and the remaining from support services.

The province exported 72,250 tonnes of lychees, earning 126.8 million USD. Bac Giang’s lychees were mainly shipped to China, with 71,250 tonnes and 125 million USD.

The remaining 1,000 tonnes, worth 1.8 million USD, were exported to several EU countries, Russia, Singapore, Thailand, Australia, the US, Canada, Japan and the Republic of Korea. 

Bac Giang’s specialty fruit has also been consumed across the country, especially Hanoi, Quang Ninh, Hai Phong, Hue, Da Nang, Ho Chi Minh City, and southern provinces via wholesale markets, trade centres and supermarkets.

This year, the lychee prices are relatively stable, ranging from 8,000 VND to 25,000 VND per kilogram. Lychees for export are sold at between 15,000 VND and 25,000 VND per kilogram.

As the main harvest season will end in the next 10-15 days, with an output equivalent to 30 percent of the total production, authorities recommended people use safe plant protection chemicals to ensure the best quality, prestige and trademark of Bac Giang lychees.

Lychee is one of the 52 key agricultural products of Bac Giang, a list approved by local authorities in 2017.

About 13,500ha of lychee trees in Bac Giang are farmed under VietGAP standards with an estimated output of 90,000 tonnes. Of that area, 218ha with more than 10,000 tonnes of lychees are cultivated under GlobalGAP standards and eligible for export to demanding markets.

Total lychee output in the province is expected at 150,000 – 180,000 tonnes in 2018.

Vietnamese, German businesses commit to fight wildlife crimes

Representatives of more than 40 Vietnamese and German companies in Vietnam pledged to adopt a zero-tolerance policy towards wildlife crimes at a workshop in Hanoi on June 29.

They agreed to take a public stand against the illegal trading, transport and consumption of wild animals and related products, and pass on the message to their clients and staff throughout their companies.

The event, organised by TRAFFIC with funding from WWF-Germany and Intelligentmedia behavioural change communication company, aims to encourage the business community to step forward to handle social and environmental issues.

“Wildlife trafficking is transnational by nature and bears repercussions that are felt worldwide. It is an issue that resonates with the German people, and we are pleased with this opportunity for German and Vietnamese companies to come together and spread a united message against this crime,” said Katharina Trump, programme manager, anti-poaching, WWF-Germany.

Through the workshop, participants were given an opportunity to learn how to enact a corporate social responsibility (CSR) policy to attract environment-conscious clients, increase competitiveness and mitigate potential risks.

The workshop featured discussions on how companies could construct meaningful messages and incorporate them in CSR activities that would be effective in combating wildlife crimes and lead to a change of practices among their colleagues and customers. 

Participants learnt that adopting these policies could strengthen the reputation of their businesses by ensuring they were not inadvertently participating in wildlife crime.

The event is the latest in a series of activities organised by TRAFFIC with different companies and civil society organisations, such as Vietnam Chamber for Commerce and Industry, Vietnam E-Commerce Association and the Vietnam Automobile Transportation Association, which work towards the eradication of animal trafficking by encouraging companies to take a strong stand against wildlife crimes.

TRAFFIC’s efforts to encourage companies to integrate wildlife protection into their CSR activities have spanned the business, tourism and hospitality sectors. Anti-trafficking messages have been put up on buses, websites, events and other platforms, reaching some 250,000 people.

Agrotourism makes first moves in Khanh Hoa

Agrotourism is a relatively new concept in the South Central province of Khanh Hoa. It has recently been deployed in Cam Lam district and shown some progress.

With 30 years of mango planting in an area of 4,700 hectares, Cam Lam district’s mango have successfully built a name among consumers with three signature species of Hoa Loc, Australian and Canh Mangoes.

Local farmer Nguyen Son owns a 3 ha mango garden and has recently invested in tourism facilities to welcome visitors and earn extra scratch.

Nguyen Son, local farmer, Cam Lam district, KhanhHoa province: "Agrotourism has developed sharply across the world but it is still new to us. We also hope that this tourism service can help promote the local mangos to consumers."

Eight models of agrotourism have been developed in Cam Lam district. The models open up opportunities for farmers to improve their livelihood.

Thao Xuan Sung, Chairman of Vietnam Farmers' Association: "Mango offers a golden opportunity for farmers, especially in terms of tourism development. Localities should improve the output products, processing facilities and also material areas to develop a sustainable agrotourism model with farmers at the centre. Khanh Hoa’s association of farmers needs to devise an assistance plan for local farmers."

Agrotourism is at its best when being upon a full service chain under the model of tourism farms. It not only helps improve farmers’ living standard but also increases the value of Vietnamese farm produce.

Vietnamese, Italian localities boost economic cooperation

A seminar highlighting economic cooperation between Lombardy region of Italy and Vietnamese cities and provinces took place in Milan city on June 29.

As part of series of activities marking the 45th anniversary of Vietnam-Italy diplomatic relations, the event was jointly organised by the authorities of Lombardy region, the Vietnamese Foreign Ministry’s Department of Provincial Foreign Affairs and the Vietnamese Embassy in Italy.

In his opening speech, Altitonante, a representative from the Lombardy administration, stated that Vietnam is a potential market for the region’s businesses.

With its advanced science and technology in production and services, Lombardy has always paid attention to fostering its businesses’ investment and technological transfer activities in promising markets like Vietnam.

This is an important development objective of local enterprises, he affirmed.

Vietnamese Ambassador to Italy Cao Chinh Thien said that despite recent positive developments, cooperation between Vietnam and Italy, especially in economy and trade, is still yet to match fruitful bilateral political relations as well as potential and expectations of the two nations.  

He stated that Vietnam and the EU are working toward the signing and ratification of the EU-Vietnam Free Trade Agreement (EVFTA) and Vietnam is implementing policies to foster and expand relations with countries around the world, especially those it has strategic partnership with like Italy.

It is a suitable time for Italian and Vietnamese localities, businesses and investors to study collaboration opportunities and grasp information on each other’s markets, particularly in areas that the two countries have demand for cooperation such as transport infrastructure, energy, industry and waste treatment, he noted.

At the seminar, representatives from Vietnamese localities and businesses introduced their development potential and preferential policies on investment attraction while the Italians presented their production and business activities as well as their demands for expanding cooperation with and promoting technological transfer for Vietnamese enterprises. 

With a young population, trained workforce with low cost, and notably the rapid growth of middle and upper classes, Vietnam is an attractive destination for Italian investors, said participants.

Nguyen Duc Chung, Chairman of the Hanoi People’s Committee, stressed that Italy is the fourth largest trade partner of Vietnam in the EU while Vietnam is the biggest trade partner of Italy in ASEAN.

He expressed his belief that once the EVFTA takes effect, trade relations between the two nations will further develop, adding that Lombardy region’s strengths are suitable to development demands of Vietnamese localities.

Hanoi and other localities in Vietnam are actively improving their investment climate and stepping up administrative reforms targeting people and businesses. They wish to cooperate with Lombardy region in areas of its strengths such as tourism, food processing, construction, pharmaceutical technology, renewable energy, heritage conservation, and smart city building.

At the end of the seminar, representatives of Vietnamese cities and provinces witnessed the signing of an agreement on cooperation in fostering connectivity between Vietnamese and Italian localities and businesses by the Vietnamese Foreign Ministry’s Department of Provincial Foreign Affairs and the Italian Chamber of Commerce in Vietnam.

Vietnam promotes tourism in Chinese northeastern province

A Vietnam – China cultural, tourism and trade exchange took place in Shenyang city, China’s northeastern province of Liaoning, on June 29 with an aim to introduce the Vietnamese country and people to local residents. 

Opening the event, Vietnamese Ambassador to China Dang Minh Khoi affirmed that Vietnam – China comprehensive strategic cooperative partnership grew stably and actively last year. He said high-level visits and contacts were maintained regularly while ties between ministries, agencies and localities became increasingly close. 

The diplomat also reported that two-way trade topped 100 billion USD in 2017 with Vietnam being China’s largest trade partner in ASEAN and the eighth largest partner globally. The number of Chinese tourists in Vietnam kept increasing, he said. 

He stressed that Vietnam always highly welcomes and creates favourable conditions for Chinese firms to do business in the country, with priority given to hi-tech and environmentally-friendly projects that pay attention to workers’ interest and community activities. 

The ambassador also expressed welcome to Chinese tourists, including those living in the northeast and Liaoning, to visit Vietnam to feel the people’s hospitality. 

With beautiful landscapes, unique culture and modern tourism infrastructure, Vietnam is able to meet diverse and increasingly high demand of Chinese visitors, he said. 

Vice Chairman of the Liaoning provincial chapter of the Chinese People’s Political Consultative Conference Gao Ke, for his part, lauded the Vietnamese Embassy in China, ministries and agencies concerned for bringing Vietnam closer to the northeast China and Liaoning in particular through tourism promotion activities. 

He believed that more Liaoning people and enterprises will travel to Vietnam for sightseeing and business opportunities. 

On the occasion, the national flag carrier Vietnam Airlines launched a direct route linking Shenyang and Vietnam’s Nha Trang beach resort city, making it easier for Liaoning people to travel to Vietnam for leisure and investment.

Wholesale markets need more investment

Regarding the country’s key food distribution networks, wholesale markets have not yet undergone proper planning and development so far, according to experts.

Thus, policies are necessary to develop wholesale markets to ensure food safety standards and clear origins of products, according to opinions at a recent meeting on wholesale markets in Vietnam.

A recent report by the Ministry of Industry and Commerce (MoIC) showed that by the end of 2017, there were 8,539 markets, of which 83 were wholesale markets, accounting for 0.97 percent.

Most wholesale markets were in the provinces of Thanh Hoa, Quang Binh, Dong Thap, Tien Giang, Hung Yen, and Hanoi and HCM City.

The markets sold various products, from vegetables, meat and seafood to dry and semi-processed foods, said the report.

Nguyen Van Hoi, Vice Director of MoIC’s Domestic Market Department told online newspaper vietnamplus.vn that along with modern retail models, wholesale markets had an effective network of product distribution which plays an important role in connecting producers, distributors and consumers and contributing to enhancing business capability of Vietnamese wholesalers, retailers and enterprises as well.

Additionally, a system of wholesale markets also helps stabilise prices and create jobs for labourers who live nearby.

Despite their important role, investment in wholesale markets has been modest, reported the paper.

Most wholesale markets had sparse infrastructure with few services, unhygienic environments and lack of fire fighting systems.

In Hanoi, there were 6 wholesale markets. But they were on such a small scale that market prices could not be regulated.

Managing the quality of products at wholesale markets was also difficult, said Dao Ha Chung, President of HCM City’s Hi-tech Association.

“Vehicles transporting goods to the markets must be tightly controlled to ensure food safety”, said Chung.

“The wholesale markets must be equipped with systems to assess the origins of goods as well as their supply chains”, he said.

The prices of goods at the markets must be transparent and could not manipulated, he added.

Sharing experiences of developing wholesale markets, Ricardo Lopez Piestch, a representative from Spain’s Mercasa Group, which owns 23 wholesale markets in Spain, said that one successful idea was to ensure the presence of farmers at wholesale markets.

This would help farmers to understand market demands, he said.

Food safety was tightly monitored by inspectors. This was an important factor for the quality of wholesale markets, he added.

Vu Duy Dong, Head of Domestic Market Department, said to further develop networks of wholesale markets nationwide, it was necessary to have policies that encourage private investors to upgrade old markets and build new ones.

It was essential to monitor the quality of goods and food safety at wholesale markets as well as to train professional market management staff.

Vietcombank’s pre-tax profit up 52 percent in six months

The figure represents 55.2 percent of the plan for 2018, Vietcombank General Director Pham Quang Dung said at a recent meeting to review the bank’s six-month performance.

He attributed the outcome to good capital mobilisation, credit growth and quality, and services, which have helped boost profit and rates of return.

In particular, the net interest margin was at 2.76 percent while the returns on assets and equity respectively reached 1.24 percent and 22.71 percent, higher than the averages in the market and strongly rising from last year.

Meanwhile, Vietcombank shares continued to have the biggest market capitalisation in the banking sector.

In 2018, the bank aims to raise total asset value by 14 percent, mobilised capital by 15 percent, and credit by 15 percent, while keeping bad debt at under 1.5 percent. It looks to gain pre-tax profit of 13 trillion VND (566.15 million USD), up 14.6 percent from 2017.

Recently, Vietcombank has become the first bank in Vietnam to meet the SWIFT Global Payments Innovation Initiative (GPI) standards, which make the bank ready to provide comprehensive solutions to satisfy clients’ demand in payment and money transfer.

Da Nang looks to become startup destination in ASEAN by 2030

The central city of Da Nang aims to become a destination for startups and innovation in Southeast Asia by 2030, according to Vice Chairman of the municipal People’s Committee Ho Ky Minh. 

Speaking at the 3rd International Start-up Conference and Exhibition in Da Nang – Da Nang Startup Wave 2018 (SURF 2018) themed “Startup Capitals” in the city on June 29, Minh revealed that the locality is focusing on five key orientations in a project on developing a startup ecosystem until 2020, with a vision towards 2030. 

They are building the startup culture and raising awareness, knowledge and interest of local youth of startups; fine-tuning and issuing mechanisms, policies to support and promote startup activities; enhancing activities of business incubators and building infrastructure for startup development; promoting the building and development of startup training network; and expanding cooperation to improve capacity and attract internal and external resources for developing startup ecosystem and multiplying cooperation models among authorities, education institutions and enterprises. 

While praising the local authorities for their efforts to create breakthroughs in the work, Deputy Minister of Science and Technology Tran Van Tung hoped Da Nang will continue nurturing startup initiatives, especially those in the fields of local strength such service and tourism. 

The city should consider issuing specific policies for startup support; enhance the provision of services related to laws, accounting, consulting and communication; organise events to share relevant knowledge and experience; and foster startup ecosystem links with localities in and outside the country. 

Vo Duy Khuong, Chairman of the Da Nang Business Incubator, said to develop Da Nang into a destination for startups and an innovation centre in ASEAN in the future, the incubator will work with high schools and higher education institutions to include startup in curricula, thus motivating business ambitions and passions among students. 

The incubator will also give consultations to the municipal authorities in building policies to form a startup support fund, helping startups easily access capital sources of domestic and foreign investment funds and financial and credit organisations. 

Conferences and exhibitions on startups will be also organised to forge links and experience sharing, and introduce startup products to domestic and foreign markets. 

Khuong expressed his belief that the SURF 2018 will be a new development step of the coastal startup ecosystem, towards turning the Da Nang Business Incubator into an innovation hub by the sea.

Domestic and foreign speakers shared startup initiatives, stressing it is necessary to have five capital sources for the work, including financial capital, technological capital, personnel capital, native capital and social capital, he noted.

In the framework of the event, the Pitching Competition featured the best startup projects. 

Organised by the Da Nang Startup Council and the Da Nang Business Incubator, the 3rd International Start-up Conference and Exhibition in Da Nang saw the participation of representatives from the embassies of Israel and Ireland in Vietnam, the Ministry of Science and Technology, local officials and nearly 800 young entrepreneurs.

This was the programme matching startups with investors, representatives from investment funds, mentors and entrepreneurs in the form of one-on-one meeting. It is an invaluable opportunity for startups to seek investments, receive precious advice and connect with experts and speakers in the field.

The Danang Startup Council was established in October 2015 with 59 members including leading thinkers, universities, institutes and businesses.

Meanwhile, the Da Nang Business Incubator is the first public private incubator in Vietnam.  Established in early 2016, the incubator is an innovation platform that helps early-stage startups build their business fast.

Vientiane conference links Vietnamese, Lao businesses

Nearly 100 businesses of Vietnam and Laos gathered at a conference in Vientiane on June 29 to seek partnership opportunities, an activity within the framework of the Laos-Vietnam Trade Fair 2018.

The business-to-business conference was held by the Vietnam Association for Women Entrepreneurs (VAWE) and the Vientiane Businesswomen’s Association.

Opening the event, Chairwoman of the Hanoi Small and Medium Enterprises Association Mai Thi Thuy, who is also a member of the VAWE Executive Board, said this is the fifth time the VAWE has taken part in Laos-Vietnam trade fairs and organised meetings between the two countries’ businesses.

About 40 percent of Vietnamese companies participating in the four previous trade fairs successfully sought partners or received orders from the Lao side, which has growing demand for high-quality goods of Vietnam.

The VAWE’s participation in this year’s trade fair aims to learn more about the local market and look for cooperation with Lao enterprises to open distribution agents for Vietnamese goods in Laos, Thuy said.

She asked participating businesses to straightforwardly share information about their firms and demand and suggest suitable cooperation methods to form as many business partnerships as possible, thereby helping to enhance the countries’ economic links as well as special friendship and solidarity.

At the conference, tens of Vietnamese and Lao companies introduced their strong products and goods they have selling or buying demand for. They also showed their need for partnership in goods distribution and production.

Six cooperation agreements were signed at the event, focusing on goods distribution, tourism, hospitality and services.

The organising board predicted that many more cooperation deals will be inked at the official opening ceremony of the Laos-Vietnam Trade Fair 2018 on June 30.

Themed “Cooperation, friendship and development”, the fair is taking place at the Lao International Trade Exhibition and Convention Centre (Lao-ITECC) in Vientiane from June 28 to July 2. It attracts more than 120 businesses and units of Vietnam and Laos.

Aquatic product export estimated at 3.94 billion USD in first half

Export value of aquatic products was estimated at 732 million USD in June, bringing the figure for the first half of the year to 3.94 billion USD, up 10.5 percent annually, according to the Ministry of Agriculture and Rural Development. 

Major markets - Japan, the US, China and the Republic of Korea - accounted for 52.9 percent of the total value. 

In the first five months of this year, markets posting strong growth include the Netherlands (63.1 percent), Germany (27.7 percent), and Hong Kong (China) (23.6 percent). 

According to the Agro-Processing and Market Development Authority, there is positive prospect for aquatic products export in the near future, especially in China as from July 1, import tariff on 221 aquatic products from member countries of the World Trade Organisation will be cut by 2-10 percent. 

Moreover, demand for fishery products in China is increasing, particularly for tra fish, tuna, frozen shrimp, fish oil, dried and canned fish. 

Import tariff on frozen tra fillet will be cut to 7 percent from 10 percent while taxes on fresh and frozen tra fish will be reduced from 12 percent to 7 percent. 

Vietnamese and Chinese seafood traders have asked customs offices at Hekou border gate to reform customs clearance for Vietnamese agro-forestry-fishery products, making it easier for them to enter Kunming city via Hai Phong – Hanoi – Lao Cai – Kunming road and wholesale markets. 

Meanwhile, seafood export to traditional markets such as the EU and US is facing difficulties regarding tariff and food safety quarantine. 

The Ministry of Agriculture and Rural Development assigned the Directorate of Fisheries to build trademarks for shrimp and tra fish under the project “Improving competitiveness of fisheries sector in the context of global economic integration”. 

The Government also required the Ministry of Industry and Trade to assist firms in building, protecting and developing Vietnamese shrimp trademark under the Decision No.79/QD-TTg dated January 18, 2018.

Thanh Hoa strives to improve provincial competitiveness index

The central province of Thanh Hoa showed its determination to increase its provincial competitiveness index (PCI) via overhauling administrative procedures at a recent conference on local PCI performance.

At the function, Hoang Van Hung, Director of the provincial Department of Planning and Investment, said Thanh Hoa plans to review procedures for licensing business establishment, investment, and construction, among others in order to make suitable adjustments for better performance.

The local authorities will also implement measures to facilitate operations of enterprises, he added, requiring relevant agencies and sectors boost IT application, data publication, and strict punishment of public servants who violate regulations or  cause difficulties for businesses.

He noted that local efforts have so far lowered average time for handling administrative procedures in Thanh Hoa by 30 percent compared to the level in the current regulation.

Participants suggested further simplification of administrative procedures to further shortening time and prevent overlaps.

President of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc urged the province to improve its PCI in the fields of taxation, land and market management, advising local authorities to create an equal business climate and increase inspections of business operations.

Loc praised monthly meetings held between the Chairman of the provincial People’s Committee and enterprises to help them clear obstacles to their operations.

According to a PCI survey by the VCCI, Thanh Hoa scored 62.46 points last year, ranking 28th among 63 cities and provinces, up three places from 2016. This was the highest score the province had recorded to date. Also in 2017, Thanh Hoa’s PCI had two sub-indices in the top ten scores nationwide, which were those on market entry and land access. However, the improvement of its sub-indices on transparency and informal fees failed to meet businesses’ expectations.

HCM City’s CPI up 0.55 percent in June

The consumer price index (CPI) of Ho Chi Minh City in June increased 0.55 percent from the previous month and 3.47 percent compared to the same month last year, the municipal Statistics Office reported on June 29.

Growth was seen in eight out of the 11 groups of products with the highest hike recorded in transportation at 0.95 percent.

Other groups posted price hikes were housing, electricity, water, fuel and construction material (0.72 percent), restaurant and catering services (0.84 percent), education (0.3 percent), culture, entertainment and tourism (0.11 percent), beverages and tobacco (0.04 percent), medicine and healthcare services (0.03 percent), garment-textile, headgear and footwear (0.01 percent).

Some groups experienced a drop in their prices including home appliances (0.03 percent) and post and telecommunication (0.06 percent).

Central Nghe An province boosts border trade cooperation with Laos

A workshop was held in the central province of Nghe An on June 29 to seek ways to boost border trade activities with Laos.

Ambassador of Vietnam to Laos Nguyen Dinh Ba said shortcomings in regulations and policies of the two countries have caused difficulties for management agencies and businesses.

Investment has not been poured in building transport infrastructure in border markets over the past time, he said, adding that the cash payment in trade makes it difficult for commercial banks to open new branches, transaction and foreign exchange offices at border gates.

The bilateral coordination in preventing smuggling and trade fraud remains limited, Ba said.

At the workshop, economists and businesses proposed Nghe An make use of all investment resources to upgrade border trade infrastructure and prioritize building, expanding and improving roads to border gates to promote bilateral trade.

Experts suggested upgrading trade facilities, building border markets, and launching services at Nam Can and Thanh Thuy border gates.

Deputy Director of the provincial Department of Industry and Trade Vo Thi An called on Nghe An relevant agencies to coordinate with Lao counterparts to promote made-in-Vietnam products in the market as well as strengthen inspections of cross-border trade activities to ensure security and prevent trade fraud and smuggling.

She asked Laos’ Bolikhamsai and Houphan provinces to upgrade border gates with Vietnam and open auxiliary ones.

She suggested the two countries’ governments encourage online payment through banks to make it easier for import-export activities.

Nghe An shares 419km of borderline with Lao provinces of Bolikhamsai, Xiangkhouang, and Houphan. It is home to one international border gate and four auxiliary ones with Laos.

In the first six months of 2018, the total import-export turnover between Nghe An and Laos was estimated at 15.36 million USD, a year-on-year rise of 22 percent.

Of the figure, Nghe An exported 13.66 million USD worth of goods, mainly construction materials, electric wires and aquatic products.

Nearly 90 local businesses are making investment in Laos, focusing in the fields of mining, hydropower, processing, trade of timber and small trucks, wine and steel production, forestation, tourism, agro-fishery, consumption products, and information and communication services with a total investment of over 200 million USD.

Dong Nai sees 8.35 percent growth in industrial production in six months

Industrial production of the southern province of Dong Nai in the first six months of 2018 grew 8.35 percent over the same period of 2017.

Highest rise was seen in water supply, waste management and treatment industry at 13.11 percent, followed by power, gas and hot water production and distribution at 8.35 percent, and mining at 5.2 percent.

The provincial People’s Committee attributed the results to the stable global economy that led to stable export orders of many products such as footwear, garment, rubber and plastics.

At the same time, some foreign-invested projects expanded, while some others were put into operations.

Meanwhile, in the first six months of 2018, Dong Nai continued maintaining high and stable economic growth, which was the driving force for industrial production.

Dong Nai’s total gross regional domestic product grew 7.5 percent over the same period last year.

With exports of over 9 billion USD, Dong Nai enjoyed trade surplus of over 1 billion USD in six months.

Foreign direct investment reached 950 million USD, completing 95 percent of the locality’s yearly target.

As many as 1,650 new firms were established with combined capital of 12 trillion VND.

Dong Nai’s total budget collection hit 23.22 trillion VND, fulfilling 43 percent of the yearly estimate and representing a rise of 11 percent year on year.

In the rest of the year, Dong Nai will continue rolling out measures to improve its business environment and enhance competitiveness, while dealing with difficulties related to investment procedures to speed up the progress of disbursement and public investment projects.

First-half GDP expands 7.08 percent, hitting 8-year high

Vietnam’s gross domestic product (GDP) expanded 7.08 percent in the first half of the year, marking the highest rate since 2010, fueled by robust expansion of the industrial and construction sector and service sector, according to the General Statistics Office (GSO).

“Impressive growth was seen in the agriculture, seafood, processing and manufacturing and service sectors and exports continued to be a driving force for the nation’s economic development,” said GSO General Director Nguyen Bich Lam at a press conference in Hanoi on June 29.

The agro-forestry-fishery sector picked up 3.93 percent, contributing 9.7 percent of the GDP growth. Expanding 9.07 percent and 6.9 percent, the industrial and construction sector and the service industry contributed 48.9 percent and 41.4 percent, respectively, of the GDP growth.

Notably, the industrial sector climbed 9.28 percent in the second quarter, which is much higher than 7.01 percent and 5.42 percent recorded the same period in 2016 and 2017. Processing and manufacturing were the pillar of the growth, which scaled up 13.02 percent, the highest level in recent seven years.

The service industry saw the contributions of wholesale and retail sale, financial activities, banking and insurance, accommodations and restaurants, transportation and warehouse and property.

The GSO head said that business confidence was high among domestic and foreign investors in the six-month period. According to Nikkei report, Vietnam’s purchasing managers index (PMI) edged up 52.7 points in April to 53.9 points in May.

In addition, Vietnam jumped 14 steps to rank 69th among 190 economies in the World Bank’s Doing Business 2018 report, which acknowledged significant improvements of Vietnam in the areas of getting electricity, getting credit, paying taxes, trading across borders and enforcing contracts. This is expected to create favourable conditions for investments by the private sector.

Nikkei said that by May, Vietnam posted the strongest growth in the number of export orders in 14 months. 

“These macro-economic indices proved the promptness and efficiency in the steering work of the Government and the Prime Minister along with efforts of ministries, sectors and localities since the onset of the year,” Lam said.

Thaco sends third shipment of fuel tanks to RoK

Truong Hai Auto Corporation (Thaco) has shipped 30 3,000-litre fuel tanks to JMK, a producer and supplier of auto parts in the Republic of Korea.

The shipment was delivered by sea from Chu Lai Port in the central province of Quang Nam to Busan, the RoK

It was Thaco’s third export batch to the Korean company, including more than 200 2.5-tonne dump beds and 3,000-litre fuel tanks for trucks, since the beginning of 2018.

More 100 2.5-tonne dump beds and 3,000-litre fuel tanks will head to the RoK in the second half of this year under the two firms’ agreement.

To satisfy the high technical standards and strict quality required by JMK, Thaco has used advanced technologies in its production. The company has also employed advanced management tools like Kaizen, Lean manufacturing, Total Quality Management (TQM) and 5S alongside quality management systems.

Last year, Thaco launched the first made-in-Vietnam bus factory at Quang Nam province’s Chu Lai-Truong Hai Industrial Complex, with capacity of 20,000 buses and minibuses a year, mostly for export.

The Quang Nam-based automaker has also developed a supporting industry zone with 24 plants producing spare parts and accessories for local use and export.

Thaco, in cooperation with Japan’s Mazda Motor Corporation, has developed a new Mazda factory – the second such Mazda facility in Quang Nam province, with total investment of 380 million USD.

Thaco currently assembles and distributes the Republic of Korea’s Kia, Japan’s Mazda, France’s Peugeot and BMW models.