BIG BOWL has new brand ambassador

The pho-based restaurant chain BIG BOWL has chosen celebrity chef Phan Ton Tinh Hai as its brand ambassador.

“The collaboration with Chef Phan Ton Tinh Hai is a wonderful match for us. Her obvious passion for food mirrors our own desire to introduce the world to the very best that Vietnam has to offer,” said Mr. Simon Stansfield, Managing Director of food and beverage provider Autogrill VFS F&B. “We are thrilled about this partnership, and we know our customers will enjoy the vivacious flavors that are the hallmark of Chef Hai’s signature dishes.”

BIG BOWL has an impressively evolving presence and can now be found at 15 locations in Vietnam’s five major airports: Noi Bai, Tan Son Nhat, Da Nang, Cam Ranh, and Phu Quoc.

As an icon of the Vietnamese culinary scene and principal and lecturer at the Mint Culinary School, Chef Hai is one of the country’s most renowned chefs. Her reputation has grown through her involvement with the popular national television programs Master Chef, Master Chef Junior, and Iron Chef, as well as her hosting several of her own cooking programs on television. Chef Hai was born in Hue and picked up her passion for cooking from her mother. She earned a Master’s Degree in Food and Nutrition in the US and has demonstrated her skills worldwide. 

The association with Chef Hai sets out to build on popular pho-based favorites and add a complimentary range of accompaniments, desserts, and herbal beverages to the BIG BOWL menu.

Known for her use of bold flavors and healthy ingredients, Chef Hai has utilized all of her culinary flair to represent the best of local ingredients in creating a range of flavorsome and healthy options that truly showcase the uniqueness of Vietnamese regional cuisine. 

“This partnership with BIG BOWL is an exciting opportunity to expose both local and international travelers to my culinary inspirations through these dishes,” said Chef Hai. “Together, we are introducing some great local ingredients and working towards creating healthy and unique offerings that we are confident will appeal to guests.” 

Commencing this August, Chef Hai will make cameo appearances at BIG BOWL restaurants nationwide. She will personally guide the BIG BOWL teams around the country to prepare and present the dishes on the new menu and impart processes and practices seen at the international level. These activities will culminate through the launch of the new dishes to airport customers who will all be given the opportunity to sample BIG BOWL’s exciting new range of products. 

“Our aim for BIG BOWL is to build its stand-alone reputation and be seen to provide an authentic representation of Vietnam’s diverse and unique cuisine,” said Mr. Stansfield. “We want to change the way people perceive airport food and show that through quality and innovation a positive and memorable dining experience is a great reason to visit the airport.” 

Since the first BIG BOWL outlet opened in 2012 at Tan Son Nhat International Airport in Ho Chi Minh City, it has become a favorite among movers and tasters, especially those looking for genuine local tastes. Whether it be your first or last taste of Vietnam or just part of your daily routine, BIG BOWL is sure to satisfy your needs. 

BIG BOWL has been developed by Autogrill VFS F&B, a joint-venture between Autogrill, the world’s largest provider of food, beverage and retail services for travelers, and the Vietnam Food & Beverage Services Company.

Autogrill VFS F&B was founded in 2013 and offers unparalleled dining services at major international airports in Vietnam. It is committed to making all travelers “Feel Good On The Move” through providing outstanding customer service through a wide variety of quality food and beverages in stylish airport outlets that best present local favorites and many internationally recognized brands.

Can Grand Pacific apartment buyers reclaim their $4.5 million?

After ten years of development, the Grand Pacific luxury apartment project in the northern port city of Haiphong's Hong Bang street has just finished structural work for three buildings. The developer has received $4.5 million from apartment buyers. Will this money continue to lay stagnant along with the project? 

Regarding Grand Pacific’s construction scale, the land area is 22,436.3 square metres for the construction of three 20 story buildings with 470 apartments.

The main investor is Pacific Investment Ltd., a fund management group based in California which focuses on real estate. Initially, the project was managed and implemented by South Korean company GNS Technology Co. Ltd. in cooperation with Australian company Lobana Trading Co., PTY Ltd. However, currently, GNS Technology Co., Ltd.’s website is not functioning and Lobana Trading Co. is permanently closed.

According to the Haiphong Department of Planning and Investment, the project was licensed in 2006. The target of the project is to construct three apartment buildings for rent and purchase and one purely for rent.

The total amount of expected investment was $16.8 million. However, the developer has only disbursed $8.2 million in the end. Meanwhile, the project has received a total of $4.5 million from customers who bought 107 apartments in two buildings.

Grand Pacific’s initial plan stated that the project would finish by 2012 and have the apartments ready for customers. However, until now, it has only finished structural work and the foundation of one building. The developer has not even started working on the second building yet.

According to the Haiphong Department of Planning and Investment, the developer has stopped implementing the project in June 2013. The total delay at the moment is 47 months.

Since 2012, the department has been constantly investigating and supervising the project, as well as issued several documents demanding the investor to provide explanatory leaflets and clarify the plan for project implementation.

To find a feasible solution for the problem, the Haiphong Department of Planning and Investment has recommended that the Haiphong People’s Committee should support Grand Pacific to the most of its ability.

If the investor cannot overcome financial and operational obstacles in order to efficiently implement and complete the project as it was planned, the department will have to terminate all project activities in accordance with Vietnamese laws and regulations.

However, this is a major project with massive investment and now holds a significant amount of money raised from apartment buyers. To terminate the project, the department would have to be extremely circumspect. If the project is terminated, apartment buyers will struggle to reclaim their payments from the developer.

In addition, it is hard to make a speedy valuation of the developer’s initial investment in the project since the beginning and evaluate the land area used for the project, as well as prepare financial documents on debt deduction.

However, potential investors are lining up to take over the project and accountants will certainly have to provide these final statements to them, otherwise they cannot take over all responsibilities and enjoy the rights and benefits of the former investors.

According to the latest news from the Haiphong Department of Planning and Investment, Pacific Investment Ltd. is currently negotiating with some investors in Vietnam in order to sell its project.

Vinachem owes USD162-million loan to Chinese bank

The Ministry of Industry and Trade has been seeking the government’s help for the payment of a USD162-million loan for Vietnam National Chemical Group (Vinachem) provided by China Eximbank.

Vinachem took a USD250 million loan from China’s Eximbank in 2008 to carry out its Ninh Binh Nitrogenous Fertiliser project. The loan with a term of 15 years had a preferential interest of 4% per year.  

Put into operation since 2012, Ninh Binh Nitrogenous Fertiliser Company, which has a total investment of USD667 million, has incurred consecutive losses. So, by late March this year, Vinachem had only paid USD87.5 million of the total loan.

The Ministry of Industry and Trade asked the government for help in paying the remaining loan of USD162 million in the context of Vinachem’s current operation difficulties.

If China Eximbank does not agree to the late loan repayment, the Ministry of Finance has been asked to find ways to make the repayments.

Following the Ministry of Industry and Trade’s proposal, the Ministry of Finance said that the state budget deficit was high and many other projects are also seeking help due to their financial difficulties. So, Vinachem needed to raise their own finances to conclude the repayments.

The Finance Ministry also noted that negotiating with the Chinese bank on delaying the repayment would badly affect the Vietnamese government’s prestige.

After four years of operation, Ninh Binh Nitrogenous Fertiliser Company had made total losses of more than USD90 million.

Hi-tech agriculture needs better credit policies

Better credit policies and higher consumption of farming products are necessary to ensure efficient use of funds borrowed for high-tech agricultural projects, experts said at a seminar in Hanoi on July 4.

These are tasks for the Government and enterprises respectively, they added.

The seminar was organised by the Vietnam Farmers’ Association, the State Bank of Vietnam and the Ministry of Agriculture and Rural Development.

According to the State Bank of Vietnam (SBV), total outstanding loans for hi-tech agriculture have reached nearly 32.34 trillion VND. The loans have been given to 4,125 customers, 3,957 individuals and 168 enterprises.

Nearly 27.74 trillion VND (about 86 percent) of these loans were given to high-tech agricultural projects and the remaining 4.602 trillion VND to clean agriculture projects. There was no bad debt, the central bank said.

A number of large-scale high-tech projects have begun operations, involving the breeding of cows, horticulture and fruit and vegetable exports.

The Bank for Agriculture and Rural Development has committed to a 50 trillion VND soft loan package for hi-tech and clean agriculture programmes and projects. Loans under this package will be given at interest rates 0.5-1.5 percent lower than normal lending rates.

Despite this, the reality was that encouraging high-tech and clean agriculture was fraught with risk, especially without stable consumption markets, the experts said.

They added that there were not enough tools in the country to distinguish and protect high-tech and clean agriculture projects from normal ones.

There was also a lack of guidance on the granting of ownership certificates for assets on agricultural land, including greenhouses and other facilities, the seminar heard.

Nguyen Duc Huong, Chairman of the Lien Viet Post Commercial Joint Stock Bank (LienVietPostBank), said that hi-tech agriculture was often associated with high production costs and there was not enough consumer confidence in clean farming products.

He also noted that investment in agriculture carried greater risks because it depended on many uncertain factors like the weather.

The State should have policy incentives for businesses to consume farmers’ products, Huong said.

He also said cooperation among farmers, and between farmers and enterprises would help them expand production, improve processing and consumption, thereby fostering stable production, increase in product quality and the building of recognisable brands.

Le Thanh, Director of the Institute of Organic Agriculture Economics and General Director of the Ket Noi Xanh Joint Stock Company, said that hi-tech agriculture is a mode of production, not an economic model, so it must be closely linked to new value chains.

For instance, "if an enterprise has an investment of 3-4 trillion VND for high-tech agriculture projects without a market, this will turn into a debt for banks, businesses and investors," he said.

"The value chain will only succeed if farmers can frequently access transparent, accurate, updated market information," he said.

Thanh also said the State should pay attention to building mechanisms and creating conditions for investors for developing supply chains. 

This would create the benefits of tax collection and job creation, he added.

Pham Thi Huan, General Director of Ba Huan Co, Ltd, said many businesses wanted to produce clean farm products but they couldn’t afford the large capital that was required.

The State should, therefore, issue support policies for clean agriculture production and improve the quality of agricultural development.

To support the development of adequate distribution systems, the agriculture ministry cooperated with other agencies and sectors to develop policies on credit, commercial infrastructure, land, tax, production, processing and post-harvest preservation, said Hoang Anh Tuan, deputy director of the Ministry of Industry and Trade’s Domestic Market Department.

Economist Vo Tri Thanh said the market would eventually promote high-tech agricultural production, but the initial development phases would carry risks and instability.

To develop hi-tech agriculture, the state should also perfect the insurance schemes for the sector. This would be a key factor in having businesses and farmers share risks inherent in agricultural production, he said.

AirAsia offers discount tickets to Malaysia, Thailand

AirASia has offered discount tickets for flights from Ho Chi Minh City, Hanoi and Danang to Malaysia and Thailand to mark its winning of SKyTrax awards.

With around US$35 (VND780,000), including taxes and fees, you can get a single ticket to fly from HCM City, Hanoi, Danang, and Nha Trang to Bangkok, Kuala Lumpur, Johor Bahru, and Penang.

The discount tickets are booked on July 3-9 for flights departing from January 15 to August 28, 2018.

AirAsia Group CEO, Tony Fernades hopes that AirAsia will be a real community airlines in Southeast Asia in the coming 15 years.

AirAsia is a low-cost airlines in Asia with more than 120 destinations in the world.

Binh Duong endorses Russia’s rubber project Visorutex

The People’s Committee of southern Binh Duong province supports the Russia-based ROSTEC Group to carry out the rubber production project Visorutex, said Vice Chairman Tran Thanh Liem on July 4.

He made the statement during a meeting with Yuriy Makeev, ROSTEC Deputy General Director’s adviser, to discuss the rubber replanting and manufacturing project in the province.

Vietnam and Russia signed an agreement to establish a joint venture for rubber production in 1991, cultivating more than 1,000 hectares of rubber in Binh Duong.

Speaking at the meeting, Liem lauded Vietnam – Russia relations and updated Makeev on local socio-economic development and policies for investors.

He voiced support for Visorutex and also hoped that ROSTEC will consider investing in other fields.

The province has converted approximately 2,000 hectares of land for rubber farming to land for industrial activities since 2010. It plans to increase the coverage of industrial land from about 10,000 hectares at the moment to more than 14,000 hectares in 2020, the leader noted.

Makeev thanked the provincial authority for their support of ROSTEC, saying the group wants to continue operating in Binh Duong.

ROSTEC looks forward to more assistance from the province in the future, he added.

Experts: Garment sector’s export growth not yet sustainable

Vietnam’s garment and textiles export in the first half of the year grew 11.3 percent year-on-year to 14.58 billion USD. However, experts said the growth has not been sustainable yet.

Le Tien Truong, Deputy General Director of the Vietnam Garment and Textile Group (Vinatex), said the results proved a praiseworthy effort made by the garment sector in the context of the unstable global economy.

Demand for textile products from key importers like the US, the EU and Japan tapered off in the first six months of the year. However, Vietnam’s garment exports to those markets experienced robust achievements, Truong said. 

He said that the country earned 6 billion USD from exports to the US, surging nearly 9 percent, 2.3 billion USD from shipments to the EU, up 8 percent and 1.5 billion USD from Japan, up 12 percent.

Vietnam outstripped its competitors in garment export growth in the period. According to the Trade Map, China experienced a decline of more than 5 percent year-on-year, while Bangladesh saw a drop of 3.5 percent and Indonesia, 5 percent.

However, the trade protectionism policy of the US President Donald Trump administration and interest rate adjustment from the US Federal Reserve will threaten sustainable export growth. There is a high possibility that Vietnam’s competitors will further devaluate domestic currencies to support exports as they did in 2016, Truong said.

As the most tremendous hurdle for Vietnamese garments is foreign competitors, especially China with large scale production and low costs, Vietnamese enterprises need to join the global supply chain with fastidious requirements of quality, prices and time of good delivery.

Poor orientations, which fail to meet long-term development of local enterprises, are a great inner difficulty for the garment and textiles industry. In addition, unsound competition between domestic and FDI businesses has been on the cards.

The shortage of high-quality human resources, limitations in product development, capital access, marketing and foreign languages and high input costs also challenge the sector.

The garment sector recommended relevant authorities to support training programmes in original design manufacturer (ODM) business and information and technology while outlining rational policies on job creation, minimum wages and exchange rate.

Creating favourable conditions for enterprises to get access to soft loans and preventing smuggled goods are significant activities to support domestic garment and textiles businesses.

MTA Vietnam 2017 draws 425 domestic, foreign firms

As many as 425 Vietnamese and foreign enterprises have joined the International Precision Engineering, Machine Tools and Metalworking Exhibition and Conference (MTA Vietnam) 2017 that opened at Saigon Exhibition and Convention Centre in Ho Chi Minh City on July 4.

The foreign businesses include many prestigious brands in the world, such as Amada, Bystronic, Han’s Laser, Nikon, and Sodick.

BT Tee, a representative from the organising board, said that participating businesses showcase their cutting-edge technology and production chains in metrology, metal-forming and 3D printing technologies.

This is a chance for suppliers and consumers to meet, update advance technology, enhance their business effectiveness, and seek long-term partnership, he said.

Particularly, 29 leading Japanese firms are also displaying their products.

Meanwhile, Koji Takimoto, chief representative of the Japan External Trade Organisation (JETRO) in Ho Chi Minh City, said that many Japanese firms wish to invest and expand their business in Vietnam’s manufacturing industry. 

He held that the event is a good chance for Japanese businesses to introduce their technology to promising customers, and share information, thus helping Vietnamese firms to update technology and improve capacity in providing spare part and equipment for the domestic market. This will help attract more foreign investment, especially from Japan, in production, manufacturing and support industries of Vietnam, he added.

Along with the exhibition, a welding contest will be organised for students and technicians in the welding industry of Vietnam, together with various conferences and workshops on development trend and integration capacity of Vietnam’s mechanics, production and metal-forming sectors.

MTA Vietnam is the largest and most professional exhibition in the manufacturing industry in Vietnam, which was first launched in 2005.

The event will run until July 7.

Human resources training needs improvement

The so-called fourth industrial revolution, also known as Industry 4.0, will provide more development opportunities for businesses but will also require them to prepare qualified human resources to meet the industry’s standards, according to experts.

To prepare for the new wave, many businesses have invested in buying modern machines and equipment and in training human resources. But in the Saigon Hi-tech Park, for example, high-tech firms still lack qualified staff to meet their demand. Deputy Director of the park Le Thanh Nhan said businesses in the park need workers capable of operating modern equipment and technology.

CEO of the Meetech Technology Joint Stock Company Pham Ba Khien said the number of high-quality workers who could map out ideas or operate modern equipment was limited. They mostly come from universities, but the rate of applied research for start-ups was low, he said.

Nguyen Van Thu, chairman of the Vietnam Association of Mechanical Industry, said at a recent conference in Hanoi that investing in human resources should be considered the most important task for local manufacturers, in addition to fostering technical innovation and enhancing co-operation among businesses to maximise efficiency and avoid overlapping investments.

To deal with the problem, the Training Centre of the Saigon Hi-tech Park has supported businesses in training workers to meet their demands for high-quality human resources.

Experts also warn that besides focusing on training high-quality human resources, it is also necessary to upgrade or reform training programmes and methods so that employees can meet the demands of Industry 4.0.

Tran Quang Binh from the HCM City Technical and Economic College said demands for a high-tech workforce were growing, while well-trained human resources supply capacity was limited.

Head of HCM City Economic College Lam Van Quan said the labour market would face a serious gap between supply and demand. Vocational training must equip learners with basic skills and knowledge, together with creative thought and ability to adapt to challenges and jobs’ requirements.

Vocational training centres should strongly renovate from training activities to school management to “create” workers who are capable of working in a competitive and creative environment, he said.

Old training methods that targeted supply instead of demand are an obstacle to this reform, he said.

In response to rapid technological change, the General Department of Vocational Training said virtual training and digitalising education would be the trend of vocational training in the near future. Centres should shift to the models of training that the market needs, according to the department.

Experts say one of the most reasonable solutions for improving workforce quality is to co-operate with businesses.   

Dang Thi Nhat Minh from the HCM City-based Ly Tu Trong Technical College said vocational training schools should co-operate with businesses and scientists to analyse socio-economic conditions and build appropriate training models.

Businesses regularly invest in new equipment and employ professional and skilled experts, both of which could be placed at the disposal of students, he said. Students would also have opportunities to work and practice in a real working environment and directly learn from experts so their training meets business demand.

Minh Nguyen Logistics Joint Stock Company in HCM City, for example, has worked with universities to select qualified graduates. The company also regularly co-ordinates with strategic partners from the Republic of Korea and Japan to organise training courses for management staff and high-quality engineers.

Deputy PM anxious at slow allocation, disbursement of public investment

Deputy Prime Minister Vuong Dinh Hue was anxious about the slow allocation and disbursement of public investment in the first half of the year and demanded clarifying the responsibility of related officials and agencies. 

Chairing a meeting on the work in Hanoi on July 4, the Deputy PM said the delay affected economic growth, State budget collection, job generation and the efficiency of capital use. 

The Minister of Planning and Investment must pinpoint the responsibilities of those involved in the work and report to the Prime Minister before July 30, he said. 

The Ministry of Planning and Investment (MPI) reported at the meeting that the total investment capital from the State budget, excluding Government bonds, planned for 2017 is 307.15 trillion VND (13.5 billion USD). 

By the end of June, more than 303.07 trillion VND (13.3 billion USD) or 98.7 percent of the sum was allocated. The remaining 4.074 trillion VND was capital intended for the national target programme on climate change response and green growth, two new projects of the Ministry of Agriculture and Rural Development and the northern mountainous province of Ha Giang, and capital allocated by ministries, agencies and local administrations in violation of rules. 

Meanwhile, the accumulated Government bond-sourced investment for 2017 is nearly 66.46 trillion VND (2.9 billon USD), of which only close to 11.5 trillion VND (506 million USD) was allocated during January-June.   

According to the Finance Ministry, by the end of June, disbursed investment capital stood at around 91.4 trillion VND (4.02 billion USD), fulfilling just 25.6 percent of the target assigned by the National Assembly and 29.6 percent of the plan approved by the Prime Minister. 

Deputy PM Hue, who is head of the Government’s working group instructing the acceleration of disbursement of public investment capital, asked the MPI to report on the causes of the delayed allocation of capital to the national target programme on climate change response and green growth. He noted that the PM had approved the investment portfolio for the programme in May. 

He also requested the ministry to make a list of ministries, agencies and localities which wrongly allocated the public investment. 

The Deputy PM said the MPI must submit to the Prime Minister the plans on allocating the remaining State budget-sourced investment capital and Government bonds no later than July 30.

Bank and energy stocks slump

Shares were mixed on July 4 on the two stock exchanges as traders shifted investments to small- and medium-cap stocks.

The VN-Index on the HCM Stock Exchange was down 0.43 percent to close at 775.54 points. The key gauge ticked up 0.3 percent on July 3.

Large-cap stocks slumped with the VN30 tracking the top 30 largest shares by market value and liquidity being down 0.25 percent at 763.92 points.

Banks and energy firms led the downturn.

All six listed lenders on the HCM City’s bourse lost value of between 0.5-2.9 percent. The three biggest listed banks – Vietcombank (VCB), Vietinbank (CTG) and BIDV (BID) – decreased 0.5 percent, 1.5 percent and 1.9 percent, respectively.

In the energy sector, PV Gas (GAS) and Petrolimex (PLX), the two largest listed firms by market value, sank 1.74 percent and 1 percent, respectively.

GAS increased 4 per cent in the last two trades while PLX extended losses to three consecutive sessions.

Global oil prices have maintained an uptrend in recent trades. Brent crude futures rose 1.9 percent on Monday after posting a weekly gain of 5.2 percent last week. Meanwhile, US crude futures closed up 2.2 percent to reach nearly one-month high.

Other losers included dairy giant Vinamilk (VNM), real estate developer VinGroup (VIC), private equity firm Masan Group (MSN), insurer Bao Viet Holdings (BVH) and DHG Pharmaceutical (DHG).

"Short-term profit selling occurred in the banking sector and in a number of large-cap stocks which have gained substantially in the previous rallies and that put heavy pressure on the market,” stock analysts at BIDV Securities Co wrote in a note.

The VN-Index expanded 1 percent last week and has gained 5.2 percent in June.

They noted investments tended to shift to small- and medium-cap stocks and the ones with solid backgrounds and in the low price range.

Gainers on the day included Ocean Group (OGC), Tan Tao Investment and Industry (ITA), Hoang Quan Consulting-Trading-Service Real Estate (HQC), Duc Long Gia Lai Group (DLG) and HAI Agrochem (HAI). They were the most active stocks on the HCM Stock Exchange with 6-23 million shares traded in each code.

On the Hanoi exchange, the HNX-Index inched up 0.15 percent to end at 100.48 points. The northern market index increased 1.2 percent in the last session.

A total of 299.3 million shares worth a combined 4.14 trillion VND (182.4 million USD) were traded in the two exchanges, up 12.8 percent in volume but down 10 percent in value compared with July 3’s numbers.

Foreign investors decreased their buys in the two markets, picking up shares worth a total net buy value of 37 billion VND on the two exchanges, down 65 percent in value from the previous session.

Quang Ninh develops OCOP into important economic scheme

The northern province of Quang Ninh will develop the “One Commune, One Product” (OCOP) programme into an important economic development scheme, with a focus on agricultural and non-agricultural production. 

During a conference in Quang Ninh on July 4 to launch the scheme’s second stage 2017-2020, Chairman of the provincial People’s Committee Nguyen Duc Long said the OCOP programme began in October 2013 and ended its first stage in December 2016. 

During the second stage, the province will strive to own 250 high-quality OCOP products by 2020, including at least 12 provincial-level products of four to five stars, six others qualified to join the national value chain, and one to two products competitive enough in the global market. 

To that end, Quang Ninh will zone off production area and complete production chain, from seedlings to harvest, preservation, processing and consumption. Further attention will be paid to personnel training and technology transfer. 

It will also mobilise the involvement of agriculture and rural development, science-technology, industry and trade, tourism, cultural and financial sectors together with scientists and businesses in the effort. 

Each year, units and households joining the programme must vie for a competition to choose the best OCOP products which will receive trade promotion support. 

Concluding the first stage from 2013-2016, Quang Ninh built 210 OCOP products, including 99 meeting 3-5 star standards. More than 180 economic establishments and households joined the programme. 

A chain of OCOP points of sale have been open in all 14 districts, towns and cities with product values up 20-30 percent. 

Vice Chairman of the provincial People’s Committee and head of the OCOP programme management board Dang Huy Hau said in the near future, Quang Ninh will provide training and grant certificates to chief executive officers of businesses, chiefs of cooperatives and business owners in several universities and vocational training colleges. 

Sub-projects will be launched to tap the province’s strength in agriculture and rural areas in combination with economic development in mountainous and island communes such as Ngoai Van – Yen Tu green herb valley, Tien Yen – Binh Lieu culture and tourism village, and Van Don – Co To community-based tourism. 

In 2018, Quang Ninh will begin inspecting OCOP product quality.

Reference exchange rate goes up 4 VND

The State Bank of Vietnam adjusted its reference VND/USD exchange rate up by 4 VND from July 4 to 22,444 VND/USD on July 5.

With the current  +/- 3 percent VND/USD trading band, the ceiling exchange rate is 23,109 VND per USD and the floor rate is 21,765 VND per USD. 

Slight fluctuations were seen in rates offered by major commercial banks at the opening hours.

Vietcombank offered 22,700 VND (buying) and 22,770 VND (selling), per USD, up 5 VND from the day ago.

BIDV also offered the same rates as Vietcombank, with 22,700 VND (buying) and 22,770 VND (selling), per USD, unchanged from July 4. 

Techcombank posted its buying rate at 22,680 VND, down by 20 VND and its selling rate at 22,780 VND, down by 5 VND, per USD.

Australia imposes high anti-dumping duties on Vietnam aluminum extrusions

The Australian Department of Industry, Innovation and Science’s Anti-Dumping Commission (ADC) has issued its final decision to stop investigations and not to impose countervailing duty on aluminum extrusions imported from Vietnam.

However, ADC still levies anti-dumping duties of 7.7%-18% on products of Vietnamese businesses, which cooperated with its investigation and up to 34.9% on businesses, which did not cooperate, the Vietnam Competition Authority said on July 4.

Meanwhile ADC imposes an anti-dumping duty of only 13% on Malaysian products, much lower than Vietnam.

Earlier in August 2016, the ADC initiated the investigation after CapralLimited, an aluminum extruder in Australia filed an application regarding unfair dumping. The application alleged that subsidized aluminum products from Vietnam and Malaysia which were exported to Australia at a cheaper rate affected the domestic market and caused material injury to the Australian aluminum extrusion manufacturers.

Accordingly, the period subject to investigation was between July 1, 2015 and June 30, 2016 and the loss analysis was conducted for the period from July 1, 2012. 

However, in late May 2016, ADC announced to stop a part of anti-dumping and countervailing investigations into Vietnamese aluminum extrusions because it identified that Vietnamese producers and exporters did not get any subsidy from the Government during the investigation period or they might receive subsidy but it was within the negligible level.

Machine, metalworking expo opens in HCM City     

The 15th International precision Engineering, Machine Tools and Metalworking Exhibition and Conference that opened on July 4 is showcasing a multi-national selection of the latest technologies, equipment and solutions for the manufacturing value chain.

The latest edition of MTA Vietnam and the largest so far has attracted 425 exhibitors from 23 countries and territories, with 11 international group pavilions from Germany, Japan, Korea, Singapore, Taiwan, and Thailand, BT Tee, general manager of UBM VES -- one of the two organisers of the expo along with VCCI Exhibition Services Co., Ltd -- said.

More than three-fourths of the exhibitors are foreign, the notable ones being Amada, Bystronic, Blum, DMG Mori, Han’s Laser, Hurco, Makino, Nikon, Sandvik, and Sodick.

Japan is among the fastest growing investors in engineering and manufacturing in Viet Nam, and the number of Japanese exhibitors at MTA Vietnam has increased dramatically in the past few years. This year there are 29 companies specialising in metal cutting, metal forming, metrology, cutting tools, and tooling systems.

Japanese companies have brought to the exhibition devices and equipment for efficiency improvement and labour saving in production, testing devices and equipment to improve product quality and special equipment necessary to improve local procurement, Takimoto Koji, chief representative of the Japan External Trade Organisation’s HCM City office, said.

Tee said aside from the impressive presence of established international brand, the exhibition has also attracted 110 local-based manufacturers and vendors, an increase of 7 per cent from last year, such as Creatz3D, Cybertech, Daviteq, OLAS, DKSH, Growell, T.A.T Machinery, Tinh Ha, Van Su Loi, VPIC and Weldtec.

Held on the sidelines of the expo will be technology conferences, seminars, workshops and the Vietnam Welding Competition.

The exhibition will enable manufacturing professionals to network, exchange expertise and knowledge and seek business opportunities.

The event, being held at the Saigon Exhibition and Convention Centre, will run until July 7 and expects to welcome more than 10,000 trade visitors. 

HN calls for investment in industrial zones, clusters

Hà Nội plans to attract 15-20 new projects with expected total investment of US$250-300 million in industrial zones and clusters in the capital city this year.

Sectors to be prioritised include part supplies, electronics and mechanics industries.

The Management Board of Industrial and Processing Zones said the focus would be on speeding up land clearance and improving infrastructure to make Hà Nội an attractive destination for large investors.

One of the difficulties was the limited available land in the capital city, according to the management board. There were 13ha of vacant land in Quang Minh Industrial Zone, 25ha in Phú Nghĩa Industrial Zone and 36ha in Nam Hà Nội available for investment this year.

Lê Hồng Thăng, director of the municipal Department of Industry and Trade, said attracting investment in the capital city’s industrial clusters continued to be a struggle due to high investment costs, even as investors in clusters were mainly of a smaller scale.

According to Phạm Khắc Tuấn, head of the management board, municipal authorities had pledged to hasten administrative reform and improve investment climate to attract capital for industrial zones and clusters.

In addition, the capital city would also focus on developing the labour force in localities around and near the industrial zones and clusters as well as creating favourable conditions to boost the part supplies industry through business-to-bank and business-to-business connecting programmes.

The city would give priority to high-tech, environmentally-friendly investment and products of high added value and those that could compete with others in the market.

According to the Department of Industry and Trade, the city has developed or is in the process of developing 19 industrial zones with total area of nearly 525ha, together with 110 industrial clusters, totaling 3,000ha.

The department proposed another nine industrial clusters be developed by 2020 and 18 more by 2030, noting that completing the infrastructure system was of great importance.

In addition, the department proposed to exempt land use fees in the first stage for investors as well as provide support to investors in treating waste at industrial zones and clusters.

In the first five months of this year, industrial zones and clusters in the capital city attracted seven new projects, worth more than US$44 million in registered capital, and expanded six existing projects, worth $18.5 million.

To date, Hà Nội has attracted 629 projects in industrial zones and clusters with total registered capital of $5.9 billion. More than half of the projects were foreign-invested, worth $5.34 billion.

Hanoi's retail market recovers in Q1

Hanoi’s retail market recovered in the first half of this year, according to the latest report from CBRE.

Ms. Nguyen Hoai An, Director of Research and Consulting Services at CBRE Vietnam, told a recent press conference on Hanoi’s real estate market that in the second quarter there were two new retail projects in Thanh Xuan district providing approximately 33,400 sq m, increasing the city's total by 4.4 per cent quarter-on-quarter and 12 per cent year-on-year.

The average leasing price was $33.4 per sq m per month, up 1 per cent quarter-on-quarter.

New supply in the retail segment is expected to be between 40,000 and 86,000 sq m over the remainder of 2017 and leasing prices are expected to increase.

Strategic and suitable customers are important factors in the success of the retail segment, according to CBRE, but there are also many issues relating to location and occupancy.

In Ho Chi Minh City’s retail market, the second quarter of 2017 saw 37,389 sq m of new space, bringing the total to 853,425 sq m. All new projects in the quarter were located in the non-CBD area.

The city will have more retail outlets in the future, coming from apartment for sale projects to be handed over shortly.

Except for projects with good locations or good brands, occupancy will not be as good as in the first quarter of the year. Projects expected to struggle include CBD Home Premium, Vincom Plus Homyland, and Vincom Plus Saigonres, which have from 30-75 per cent of rental areas unoccupied.

The report also noted that a series of international fashion brands are showing interest in Vietnam. Some have confirmed the opening of stores in Hanoi, such as Zara and H&M.

Food and beverages (F&B) is still fiercely competitive, with a number of brands from the Asia-Pacific region arriving in the country. Convenience stores are also developing strongly, marked by the recent arrival of 7-Eleven.

“Investors are putting great faith in Vietnam’s growth in the time to come,” Ms. An said. “This is the driving force for the development of the real estate sector.”

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