Ca Mau looks to increase shrimp exports

 

The southernmost province of Ca Mau, which leads the country in shrimp farming, is likely to increase exports of this year, experts say.

 

The province's shrimp exports reached a record high of US$800 million last year, according to the province's Department of Agriculture and Rural Development.

 

Ngo Thanh Linh, deputy head of the department's Planning and Finance Division, said: "There are many positive signs for the export of this product [shrimp] in 2011. The clearest sign is that the export volume and value of shrimp so far this year have increased compared to the same period last year."

 

Le Van Quang, general director of the Minh Phu Seafood Joint Stock Company, which led the country in shrimp exports last year, said they signed contracts last month to ship 2,000 tonnes of shrimp of various kinds.

 

Last year, the company exported 23,871 tonnes of shrimp worth $248 million, exceeding its annual target by 50 per cent.

 

Experts have also said that the export price of shrimp is likely to increase in the coming months, because of rising world demand and output declines in several exporting countries.

 

The price of shrimp in the Cuu Long (Mekong) Delta is now VND250,000-260,000 a kilo compared to about VND220,000 at the end of last year.

 

Ly Van Thuan, general secretary of the Ca Mau Association of Seafood Exporters and Producers (CASEP), said to ensure that shrimp export remains stable in 2011, seafood processors would need to maintain their existing markets, especially large ones like the US, Japan and the EU, and at the same time, expand potential markets like mainland China, South Korea and Australia.

 

The processors should also upgrade their technology towards increasing the value of export products, he said.

 

The province has 35 seafood processors that are operating at about 45 per cent of capacity because of a shortage of raw material, according to CASEP.

 

However, Nguyen Thi Tuyet, general director of the Ca Mau Frozen Seafood Processing Import-Export Corporation, said this situation was normal.

 

"There is a severe shortage of shrimp in the first quarter of every year as farmers have harvested their main shrimp crop and are preparing their ponds for a new crop," Tuyet said.

 

The province's Department of Agriculture and Rural Development plans an output of 105,000 tonnes of shrimp this year to supply processing facilities.

 

Under the plan, the province will develop large shrimp cultivation areas using advanced technology, control diseases, maintain shrimp-feed hygiene and safety, and protect the environment.

 

Nguyen Huu Thanh, general director of the Ocean Food Corporation, said good planning, the use of advanced technology, and the increase in prices of shrimp would encourage more investment in shrimp farming.

 

When the shortage of shrimp was overcome, exports would stabilise and increase further, he said.

 

The province now has more than 265,000ha devoted to shrimp breeding, with extensive farming model accounting for 99.4 per cent and industrial farming for just 0.55 per cent.

Japan firms found oil, gas off southern Vietnam

 

Idemitsu said it and two other Japanese companies NX Nippon and Teikoku have found oil and gas off southern Vietnamese coasts.

 

The suspected oil and gas reserves are at the Dai Nga Well in Blocks 05-1b and 05-1c, about 300 km southeast of Ho Chi Minh City.

 

Idemitsu said it is assessing the reserves.

 

A wholly owned Idemitsu unit and JX Nippon Oil & Gas Exploration, part of JX Holdings, each holds a 35 percent stake in the blocks, while an Inpex Corp unit has the rest, Reuters reported.

 

The three firms entered into a production sharing contract with Petrovietnam in 2004.

 

This happens in the context of Japan's energy sector stepping up exploration activity in Southeast Asia.

 

Electric firms borrow $312 mln to reform sector

 

The Bank for Investment and Development of Vietnam will provide a US$312 million loan to the Vietnam Electricity Corporation and other state-owned power companies under an agreement signed Thursday in Hanoi with the Ministry of Finance.

 

The government has obtained the loan from the World Bank for use in the First Power Sector Reform Development Policy Operation Program.

 

The objective of the program is to support the implementation of a market for electricity generation, restructuring of the power sector and reform of tariffs that will facilitate effective competition, transparency and predictability, encourage timely generation investment, improve system operational reserve, and provide incentives for efficient use of electricity.

 

Vietnam is implementing an ambitious long term reform of its power sector, with the intention of discarding the model of a vertically-integrated utility owned by the state in favor of a competitive market.

 

The expected outcome is that the power sector will be better equipped to support economic growth and meet demand for power in terms of quantity and quality, while ensuring reasonable and fair costs to consumers, and efficiency.

 

Southern metro to expand Thu Thiem urban area

 

The total floor space of Thu Thiem New Urban Area in Ho Chi Minh City’s District 2 will be revised up to 7.7 million square meters, a 33 percent increase over the 2005 plan.

 

It will accommodate 160,000 residents.

 

US-based consultant Sasaki Associates Inc. as the designer and Thu Thiem ICA have been tasked to make a study for the amendment of detailed planning of the scale 1/2,000 and urban design guidelines for the peninsula development.

 

The approved master plan in 2005 shaped an image for Thu Thiem, but some problems had occurred during implementation, thus changes were needed to improve the effectiveness of the future urban town.

 

Changes therefore will be made to construction density, heights, landmarks and block structure in the core area in the new urban town, he said.

 

The amendment will affect An Khanh, Thu Thiem, An Loi Dong, Binh An and Binh Khanh wards that have been zoned for the Core Area, Central Lake, Southern Delta region and Eastern Resident Area.

 

According the revised plan, Thu Thiem New Urban Area, which covers 657 hectares, will create workspace for 450,000 per day, as well as receive a million visitors every day.

 

Besides mentioning some public facilities such as the Opera House, Children Palace and fire fighting facilities, the consultant presented areas for hotel developments and residential areas in the town.

 

According to architects the zoning plan should consider the effectiveness of investment if it wanted to woo potential investors. Therefore public facilities should be developed to pave the way for investors to follow.

 

Unlike the popular practice that allows for development of high-rise buildings along main roads in different regions, they have reckoned that high-rise buildings should be developed in group in a certain area only, and the height should not be capped.

 

The approved zoning plan allows a maximum of 300 meters high for the observation tower and a maximum of 40 floors for other buildings in the peninsula.

 

Vietnam imports 450,000 tons of raw cashew

 

Vietnam plans to import 450,000 tons of raw cashew, or 20 percent higher than the country’s domestic yield.

 

It’s aimed at achieving an export value of US$1.4-1.5 billion this year, according to Vietnam cashew Association (Vinacas).

 

Local processors will have to import more raw cashew mainly from Africa.

 

Local output this year is forecast to fall by some 20 percent compared to last year.

 

Vietnam imported nearly 405,000 tons of raw cashew last, or some 54 percent of total demand, with a value of US$400 million.

 

Vietnam can’t maintain its position as the world’s top cashew exporter if the country still relies on raw material import for over 50 percent of its demand.

 

It purchases raw cashew from Ivory Coast, Nigeria, South Africa, Indonesia and Cambodia for processing.

 

The country last year exported about 97 percent of its processed cashew nut output, with 40 percent to the US, 20 percent to China, and 20 percent to EU.

 

Vietnam cbanker seeks lower credit growth goal

 

Vietnamese central bank governor Nguyen Van Giau has recommended that the government slash its credit growth target to under 20 percent from the current 23 percent, a state-run online news portal reported on Friday.

 

Inflation accelerated to a near two-year high of 12.2 percent in January and economists say the government will be unable to bring it down to its target of 7 percent this year without decisive action.

 

Many have said that, with little control over rising global food and fuel prices, the authorities need to cut credit growth.

 

Giau made the recommendation at a cabinet meeting on Thursday devoted to inflation, the website VnEconomy.vn reported.

 

On Friday, The State Bank of Vietnam posted a notice on its website (www.sbv.gov.vn) requesting banks to report by 4:30 p.m. (0930 GMT) their plans for credit growth this year, as well as their plans to raise registered capital.

 

Last year, credit growth exceeded 27 percent, above the official target of 25 percent, while the credit-fuelled economy grew 6.8 percent.

 

Finance Minister Vu Van Ninh said at the same meeting fiscal policies would be "monitored extremely tightly" and spending would be cut another 10 percent while there would be no increase in investment in infrastructure.

 

Ninh and Giau said the measures were designed "to send a message that monetary and fiscal policies would be monitored more tightly to contain inflationary pressures", VnEconomy reported.

 

2 Vung Tau ports nearing completion

 

Two new ports are slated to open in Vung Tau next quarter, taking the number of international terminals in the southern city to three.

 

The Cai Mep International Terminal has been built by the Sai Gon Port Company and Denmark’s Maersk A/S Corp at a cost of US$260 million.

 

Sai Gon Port has also built the $280-million SP-SSA International Terminal, this one along with the US-based SSA Holdings.

 

The two can receive ships of up to 160,000 tons and together have a capacity of one million 20-feet equivalent units a year.

 

However, their opening could be postponed since roads connecting them to National Highway 51 have not been completed yet.

 

Hotel operator Accor to expand in Vietnam

 

French-owned Accor Group, the world’s leading hotel operator, has said it will open at least a hotel each in Hanoi, HCMC, Da Nang, Vung Tau, and Phu Quoc this year to take advantage of the rising tourist numbers.

 

It plans to open five-star Pullman properties in Hanoi, HCMC, Da Nang, and Vung Tau and three- and four-star Novotel and Mercure hotels in Phu Quoc.

 

Accor operates in 90 countries where it manages 4,100 hotels with around 500,000 rooms, including 11 hotels with 2,200 rooms in Vietnam.

 

HCMC’s first mini-condos to be on sale in May

 

Vinacomplex 3, Ho Chi Minh City’s first mini-condos with 19 apartments, was Tuesday announced to go on sale in May, according to project developers Vinacomlex and Hoang Anh Saigon Real Estate (HASR).

 

It will be sold at VND19 million (US$973.8) per square meter, according to Doan Chi Thanh, director of HARS.

 

The 1,000 square meter building with five floors including a ground floor, mezzanines and a rooftop was licensed in December 2010.

 

The apartments are all under 30 square meters and will be viewed as any normal house for homeownership certificate purposes, Thanh added.

 

This kind of condos is familiar in Hanoi while in Ho Chi Minh City it is still new.

 

Vinacomplex and Hoang Anh Saigon Real Estate are two real estate firms based in Ho Chi Minh City.

 

Japanese opt for incentive tours of Vietnam

 

Unlike in the past, more and more Japanese are preferring to come on incentive tours to Vietnam, according to Vietnamese travel companies.

 

Since the middle of last year, groups of 10-20 have been arriving regularly, Dinh Nguyen Ngoc Giang, head of the Ho Chi Minh City-based O.S.C Travel’s international division, said.

 

APEX Travel Company, a foreign-local joint venture serving mainly Japanese tourists, plans to promote its incentive tours in Japan due to the large number of tourists per group it receives.

 

According to the Prospective Travel Trends in 2011 of JTP, a leading Japanese travel group, the number of Japanese making overseas trips will reach 17.3 million this year, up 3.7 percent from last year.

 

Last year 442,000 Japanese visitors came to Vietnam, 24 percent up from 2009.

 

The Vietnam National Administration of Tourism expects the country to receive 1 million Japanese visitors by 2015 and it is preparing a plan to attract more guests from this important market.

 

Japan drugs firms eye opportunities in Vietnam

 

A pharmaceutical industry delegation from Toyama city in Japan has been touring Vietnam since Monday to explore opportunities for tie-ups with local firms.

 

Yasuhiko Shioi, the head of the delegation, said the visitors not only want to export to Vietnam but also import Vietnamese pharmaceutical products.

 

Domesco Medical Import-Export Joint-stock Cooperation, for instance, exports herbal-based drugs worth tens of thousands of dollars every year to Japan, Nguyen Thi Bich Thuy, director of its foreign trade department, said.

 

According to the Vietnam Drugs Administration, this year imports are likely to be $1.49 billion and exports, $56 million, compared to $1 billion and $50 million last year.

 

Cashew export value up 38.3 per cent

 

Cashew exports in the first month of this year reached 15,000 tonnes, worth US$98 million, a year-on-year increase of 14.3 per cent in volume and 38.3 per cent in value, the Ministry of Agriculture and Rural Development said.

 

Nguyen Thai Hoc, chairman of Donafoods Dong Nai Company, said in January alone, exports were worth $3.1 million, up 30 per cent in value against last year.

 

The company expects the export value in 2011 to be $47 million, up 10 per cent against last year.

 

Nguyen Duc Thanh, deputy chairman of the Viet Nam Cashew Association, said the cashew industry was aiming to boost the total export value of cashews by 32 per cent to $1.5 billion this year.

 

Cashew are grown on 390,000ha, mainly in the eastern region of south Viet Nam and the Central Highland, Thanh said.

 

However, he said, processors were now suffering shortages and would need to import 300,000 tonnes of raw cashews in 2011. Processors will also have to cope with high loan interest rates.

 

To meet this year's target, Cao Duc Phat, minister of agriculture and rural development, said his ministry would develop favourable policies to boost cashew production at home.

 

In 2010, 196,000 tonnes of cashew nuts were exported, worth $1.14 billion, a year-on-year increase of 10.8 per cent in volume and 13.4 per cent in value, according to the Ministry of Agriculture and Rural Development.

 

Viet Nam is the leading exporter of cashews in the world.

 

For the first time, in 2010 the cashew sector became one of the country's leading agricultural products when export revenue reached over $1 billion.

 

Hoc said Vietnamese cashew nuts were exported to 52 countries and territories worldwide.

 

Companies plan higher dividends

 

A number of listed companies have announced positive 2010 business results and decided to raise their dividend payouts to satisfy shareholders' expectations.

 

Rubber companies Tay Ninh (TRC) and Phuoc Hoa (PHR) have announced plans to increase 2010 dividend payments from 20 per cent to 30 per cent.

 

By the end of 2010, TRC's net profit exceeded its target for the year by over 68 per cent, reaching VND267 billion (US$13.7 million), and Phuoc Hoa Rubber Co's net profit reached VND471 billion ($24.2 million), surpassing its yearly goal by 75 per cent.

 

TRC chairman Le Hai Lieu said the dividend rate had been adjusted based on the earnings per share (EPS) ratio and as the company earned large profits last year, shareholders were the first beneficiaries.

 

Becamex Infrastructure Development Co (IJC) has also recently agreed to pay cash dividends of at least 30 per cent instead of the 18 per cent that had previously been approved after news that its 2010 net profit doubled the previous year's figure to reach almost VND209 billion ($10.7 million).

 

Other companies also plan to increase their dividend rates, including Ninh Binh Thermal Power (NBP) from 10 to 25 per cent, The Foreign Trade Forwarding and Transportation Co (VNT) from 15 to 20 per cent and Duc Thanh Wood Processing (GDT) from 15 to 20 per cent.

 

Some market analysts said with Vietnamese investor psychology, increasing dividends was considered an effective remedy to a hike in share prices, as dividend payouts would contribute to investors' decisions over whether they would reinvest, thereby affecting share prices.

 

Shares of Becamex Infrastructure Development hit their ceiling price in six consecutive sessions following the dividend announcement while PHR shares also rose for three straight days.

 

"When the market is good, investors prefer dividends in the form of stocks, but when the market declines, accompanied by the time it takes for shares to reach investor accounts, they prefer cash dividends," said Nguyen Ngoc Truong Chinh, general director of Golden Lotus Securities Co.

 

Investors expect dividend rates to at least equal bank deposit rates and Chinh said in the context of current high inflation and rather low dividend rates, increasing dividends could contribute to creating a positive investor psychology.

 

"Viet Nam's stock market is built upon faith and with 90 per cent of individual investors, that belief dictates the market performance," Chinh said.

 

The announcement of the dividend increase sent a message that the company was confident about its future business performance and had sufficient financial resources to maintain a high dividend level, Chinh said.

 

Fund divests shares of packaging firm

 

Mekong Capital yesterday announced that its Mekong Enterprise Fund has fully completed the sale of its shares in Minh Phuc Printing and Packaging Company.

 

Mekong Capital said shares were sold to a Vietnamese investor, but it did not disclose the price.

 

Since Mekong Enterprise Fund invested in Minh Phuc in November 2004, the company has grown its net profit by improving its production execution skills and optimising raw material cost management.

 

As of December 2010, it had achieved nearly US$10 million in revenues and $1 million in net profit.

 

Minh Phuc supplies mainly to the beer and tobacco industries, as well as other consumer goods sectors such as confectioneries and baked goods.

 

The company currently focuses on the domestic market with a small portion of its products going to some countries in Asia and the Middle East.

 

The $18.5 million Mekong Enterprise Fund is a private equity fund focusing on equity investments in private entrepreneurial businesses in Viet Nam.

 

It was launched in 2002 and invested in 10 private companies founded and managed by private Vietnamese entrepreneurs.

 

The final investment of the Mekong Enterprise Fund was made in 2005.

 

The fund is currently in a divestment phase and has sold four of its 10 investments.

 

State reviews extending carrier licences

 

The Ministry of Transport has asked the Government to extend the licences issued to Indochina Airlines, VietJet Air, and Jetstar Pacific Airlines.

 

It said though Indochina Airlines does not qualify for a licence since it has been grounded and its air operator's certificate (AOC) was withdrawn 14 months ago, the extension of the licence will enable it to restructure its capital, repay its debts, and apply again for an AOC.

 

VietJet Air's licence, issued in December 2007, has expired because the carrier has yet to operate a flight.

 

The ministry proposes to extend it until June 30 this year.

 

Besides extending its licence to December 31, 2011, the ministry also wants a similar extension given to Jetstar Pacific for changing its logo, which features an orange star as well as the Jetstar.com ID that belongs to its partner, Australian low-cost carrier Jetstar Airways.

 

It has asked the Government to allow operational private carrier Air Mekong to increase its registered capital by selling a 30 per cent stake to US air carrier Skywest.

 

Banks demand ‘fees’ to sell dollars

 

Banks are selling dollars to businesses at a premium on the official rate by adding “consulting” fees.

 

The State Bank of Vietnam Monday set the reference rate for the greenback at VND20,713 based on which banks sold it at VND20,900.

 

But V., director of a trading firm based in Ho Chi Minh City’s District 7, said a state-owned bank demanded VND21,300 – or 1.91 percent higher – when he exchanged dong to repay his $70,000 loan.

 

A bank staff admitted collecting a “consulting” fee since the bank had itself paid a premium to buy the dollars from importers.

 

Other businesses also complained about having to pay similar fees to buy dollars from banks.

 

After the central bank recently promised to act against banks selling the dollar at above the official rate, many refused to sell the greenback yesterday, claiming not to have any dollars.

 

Tuoi Tre discovered that if businesses want to buy dollars to repay debts, banks provide them at an agreed price.

 

The greenback traded at VND21,750 on the black market yesterday, a VND50 rise, pushing gold prices up to over VND36 million per tael.

 

The central bank last Friday devalued the dong by 8.5 percent, which gave the dollar a 9.3 percent boost against the dong, and narrowed the daily trading band to 1 percent from 3 percent.

 

Nghe An lands deals worth $457m

 

Ten investment agreements worth a total of VND9.6 trillion (US$457 million) were signed at a meeting between leaders of the central province of Nghe An and investors last Saturday.

 

The province granted investment licences to two projects with total capital of VND513 billion ($24.4 million)

 

Also at this annual meeting, the Bank for Investment and Development of Viet Nam committed to sponsor VND15 billion ($714,000) to develop an urban area in Nam Dan District.

 

The bank also promised VND500 million ($23,800) to support Nghi Xuan Commune of Nghi Loc District to develop its education sector.

 

In addition, the bank pledged to lend nearly VND3.1 trillion ($147.6 million) to enterprises who are doing business in Nghe An Province.

 

Deputy Prime Minister Nguyen Sinh Hung said enterprises and companies had to focus on the quality of their projects.

 

He also stressed that Nghe An Province, local enterprises and investors should support each other to achieve rapid and stable development.

 

Hung added that the province had the human resources and needed to attract more investors. However, the province must develop infrastructure as well as create new services to support projects such as banking, telecom, health care and educational services.

A meeting between investors and the provincial leaders is an annual event, held to review signed projects and find new solutions to solving difficulties as well as introduce new projects.

 

Through these meetings, the province has granted investment licences to 287 projects, worth VND99.3 trillion ($4.7 billion) from 2006-10.

 

Last year, the province's industrial production value reached VND8.5 trillion ($405 million), a year-on-year increase of 19.51 per cent.

 

Phu My fertiliser plant boost supplies to the North

 

PetroVietnam Fertiliser and Chemical Company (PVFC Co) said it had boosted Phu My fertiliser delivery to the northern provinces in time for the winter-spring rice crop.

Phu My fertiliser plant produced 807,129 tonnes of urea in 2010 or 108 per cent of its yearly plan. The figure represented a 5.9 per cent year-on-year increase against 2009.

 

To ensure stable supplies and prices, the company said it keeps a minimum of 70,000 tonnes of fertiliser in storage at all times.

 

Work starts on $6.2m-invested hydroelectric power plant

 

Cavico hydroelectric power firm has invested VND135 billion ($6.2 million) in the Tan My hydroelectric power plant in the central province of Ninh Thuan.

 

The power plant will have a designed capacity of 6MW.

 

Initially, the plant will produce about 24.781 kWh of electricity per year when completed in May, 2014.

 

DHL Viet Nam named best logistics company

 

Non-profit organisation Supply Chain Community named DHL Supply Chain Viet Nam Co the best third-party logistics company of 2010 in its annual awards.

 

It is the second year in a row DHL has won the award.

 

The courier company scored highly in sustainable growth, customer service, innovative use of IT, complexity of logistical solutions, security, sustainability, human resources and contribution to local industry.

 

The entrants are judged by customers, suppliers and logistics firms via a public website, as well as a committee of senior supply chain directors and academics.

 

More than 10 international third-party logistics companies operating in Viet Nam competed for the title.

 

DHL entered the Vietnamese market in 1988. It launched DHL Supply Chain Viet Nam Co in 2001.

 

DHL Supply Chain invested US$1.5 million in a 15,000 sq.m built-to-suit multi-user warehouse at the Inland Container Depot Song Than in southern Binh Duong province last year.

 

$46.5m-invested shrimp processing plant to open

 

Minh Phu Seafood Company said the VND1 trillion ($46.5 million) Minh Phu-Hau Giang plant should become operational in April.

 

The plant will be able to process 40,000 tonnes of processed shrimp per year, according to Le Van Diep, deputy director of MPC.

 

He said the plant will use the latest technology to reduce material waste and production time, so reducing costs.

 

MPC exported 1,662 tonnes of shrimp in 2010 and reached an export turnover of $19.8 million, a year-on-year increase of 70.16 per cent in volume and 106.23 per cent in value.

 

Snarl-ups plague land-use projects

 

Poor planning, improper land use and delayed construction projects in the central province of Binh Thuan have occurred in recent years, according to a new report.

 

According to the province's report, land planning has not met the requirements of the province's socio-economic development, and many construction investment projects at industrial parks and industrial clusters are running behind schedule.

 

Nearly 40 land projects with a total area of 2,100 ha, approved by the province's committee, do not have detailed plans.

 

The plan for using land and issuance of investment licenses must be modified, according to the report.

 

For example, changes must be made to a project of the Binh Thuan Construction Trading Ltd. Company, which has invested in a project on a 121ha-area of forest.

 

The Ministry of Natural Resources and Environment and the province's committee have not co-operated in developing many land projects in the province, the report said.

 

Currently, 14 approved projects lack licenses issued by the Ministry of Natural Resources and Environment, holding back construction progress.

 

The improper management of land uncovered by the report has led to losses of about VND79.2 billion (US$3.9 million) and $382,000.

 

Of that amount, errors in calculating the money of investors caused losses of VND27.7 billion ($1.3 million).

 

Inspectors said the mistakes were caused by poor management and lack of responsibility of several advisory departments of the standing Binh Thuan Province People's Committee. They should be held accountable and penalised under the law, the report said.

 

Infrastructure projects lack funds

 

The transport sector was forecast to find it difficult attracting investment capital for transport infrastructure projects, Deputy Prime Minister Hoang Trung Hai said yesterday.

 

In the conference in Ha Noi to map out tasks for the year, Hai warned that Official Development Assistance and the State budget capital sources were limited and that investment from the private sector and the Public Private Partnership model would be especially encouraged, Hai said.

 

Hai asked the Ministry of Transport to take advantages of other foreign capital sources such as the international fund for climate change prevention.

 

"This is a large capital source but so far we haven't made use of it. It is necessary to seek capital for investment in transport projects along the country's coast and in regions mostly hit by disasters," Hai said.

 

He required the ministry prioritise key projects and those which were able to be completed this year.

 

Deputy Minister of Transport Ngo Thinh Duc said the transport sector was striving to build and upgrade more than 800km of roads, build 10km of bridges and finish 10 large projects such as the Cau Gie-Ninh Binh expressway, national highways 2 and 3 and Da Nang international airport.

 

The ministry ensured sufficient capital for projects likely to be finished this year and next year, as well as urgent works critical for transport safety, Duc said.

 

The ministry proposed that the Prime Minister ask ministries and agencies to plan capital raising for the sector, Duc said.

 

The total amount of capital needed for this year's project was VND3.5 trillion (US$175 million) while the sector only received VND1.78 trillion ($89 million) from ODA source, thus the sector would probably run out of capital by the second quarter of the year, he said.

 

The ministry also asked for the Prime Minister's permission to advance capital reserved for 2012.

 

The agency would speed up the completion and issuance of technical standards and regulations applied in infrastructure construction, consulting, project management and quality management; as well as policies to create favourable conditions for enterprises to invest in transport projects, Duc said.

 

HCMC to host international freight forwarders conference

 

The annual freight forwarders conference of WCAF (World Cargo Alliance Family of Logistic Networks), “WCA Family Conference week”, will take place in Ho Chi Minh City from February 20 to 27.

 

The 13rd conference is expected to attract 1,600 logistic professionals from 160 countries to Vietnam.

 

The state-of-the-art Saigon Exhibition & Convention Centre in District 7 will accommodate the week-long event with 500 meeting tables and 80 booths.

 

The annual event brings members of the WCA Family of Logistic Networks together to meet face-to-face to build new business relationships and strengthen existing cooperation.

 

WCA Family of Logistic Networks is the most powerful grouping of independent freight forwarders with 3,417 member offices in 174 countries.

 

Fishermen enjoy post-Tet bumper catches

 

Duong Van Toi returned to shore with 17 tonnes of anchovies after fishing for only one day in the Sa Ky Sea, located in the central province of Quang Ngai.

 

After deducting expenses from the trip, Toi, who is from Son Tinh District's Tinh Ky Commune, fetched a profit of VND35 million (US$1,800) from his catch.

 

Toi is one of hundreds of fishermen in Quang Ngai who have had bumper catches and earned big profits after resuming fishing following the Tet (Lunar New Year) holiday.

 

Tran Dinh Chien, chairman of the Tinh Ky Commune People's Committee, said fishing boats in the commune had each caught an average of five tonnes of anchovies each day after Tet.

 

With the current anchovy price of VND12,000 a kilo, each boat can earn revenue of VND60 million, Chien said. Tinh Ky has 200 anchovy-fishing boats.

 

The anchovy season often reaches its peak in the third month of the lunar year, but in recent years, anchovies have appeared in large quantities and near the shore after Tet.

 

"Previously, fishing boats had to go 30-40 nautical miles offshore, but now they can catch the fish at 20-25 nautical miles," said Le Quang, a fisherman from Son Tinh District.

 

Besides anchovy, fishermen have also hauled in big catches of tuna, mackerel, pomfret and flying fish.

 

Tran Em, deputy chairman of the Duc Pho District People's Committee, said after Tet many fishing boats in the district resumed fishing earlier than in previous years.

 

Since the end of Tet, the district fishermen have caught more than 1,500 tonnes of various fish species, Em said.

 

Nguyen Thi Minh, owner of a seafood purchasing unit at Sa Huynh Port in Duc Pho, said she was able to buy more fish in the first month of this lunar year compared to last year.

 

Fishermen in the central provinces of Phu Yen and Binh Dinh have also caught more breeder lobsters because of this year's cooler weather.

 

In Binh Dinh Province, the Quy Nhon City's Economic Bureau on Thursday reported that fishermen in Nhon Hai and Nhon Ly communes and Hai Cang and Ghenh Rang wards have caught more than 60,000 breeder lobsters, double the amount compared to the same period last year.

 

Traders in Binh Dinh are paying VND160,000 for each breeder lobster.

 

In Phu Yen Province, fishermen in Tuy Hoa City's An Phu Commune and Tuy An District's An Chan as well as An Hoa and An Hai communes said each fishing boat could catch 15-20 breeder lobsters a day.

 

Pham Van Tru from An Phu Commune said that each fishing boat caught more than 30 breeder lobsters on certain evenings.

 

Most lobster fishermen have earned more income than last year, Tru said.

 

$46.5m shrimp processing plant to open soon

 

Minh Phu Seafood Company has announced that the VND1 trillion (US$46.5 milllion) Minh Phu-Hau Giang plant will go into operation in April.

 

The plant is expected to process 40,000 tonnes of processed shrimp per year.

 

Le Van Diep, deputy director of MPC, said the plant will use the latest technology to reduce production costs.

 

MPC exported 1,662 tonnes of shrimp in 2010 and reached an export turnover of $19.8 million, a year-on-year increase of 70.16 percent in volume and 106.23 percent in value.

 

Major Japanese firms eye Vietnamese market

 

Japan’s major shipping firms are keen to boost their business in the Vietnamese market in the context that demand for consumption goods and auto spare parts to the Southeast Asian country has been increased.

 

Mitsui OSK Lines has allowed ships on the Asia to Europe route to anchor at Cai Mep port of Vietnam’s southern coastal province of Ba Ria-Vung Tau, according to the Nikkei newspaper.

 

The company will arrange for ten 6,500 TEU ships to dock at Cai Mep entre pot every week.

The move will help reduce time to transport goods from Vietnam to Rotterdam port in the Netherlands to 21 days, 3 days less than before, as well as cut down expenses for loading and storage.

 

The company is said to have a desire to turn Cai Mep port into an intermediary port on the route linking Asia and North America.

 

Meanwhile, Nippon Yusen Kabushiki Kaisha (NYK Lines) has cooperated with Vietnam National Shipping Lines (Vinalines) to develop a cargo transport service within the Southeast Asian region by using 1,000-TEU ships.

 

The two companies will put two small ships into operation to transport goods from north Vietnam to Thailand and Singapore, in anticipation of rising domestic demand for automobile spare parts imported from Thailand, which is predicted to increase by 20-30 percent.

 

NYK Lines also plans to launch a service from north Vietnam to Singapore and then Europe and North America.

 

Another company, Kawasaki Kisen Kaisha, is scheduled to set up a joint venture with a Vietnamese freight line in Hanoi and establish a representative office in Ho Chi Minh City this month.

 

Japan’s demand for maritime transport on the route linking Asia to Europe and North America is set to continue to rise by 5-10 percent. Southeast Asia is considered as the fastest growing market.

 

Domestic confectionary seen as potential export

 

Confectionery and cereal products now make up a greater proportion of Vietnam’s total export revenue, said the Ministry of Industry and Trade.

 

Export earnings from confectionery and cereals products have risen from US$276 million in 2009 to almost US$293 million in 2010, making up around 0.5 percent of the nation’s total.

 

Vietnamese businesses have exported a wide range of confectionery and cereal products to Cambodia, China, the US, Japan, UAE, Hong Kong and Taiwan. Cambodia is now the biggest importer of Vietnamese confectionery and China is seen as a huge potential market for Vietnamese products in the near future.

 

Many businesses have found partners in several other countries to promote and sell their products. At present, products made by the Huu Nghi High Quality Confectionery Joint Stock Company (Huunghifood) are sold in Russia, the UK, Spain, Singapore and the US while the Bibica Corporation exports its products to more than 20 countries and territories.

 

Domestic sweets and biscuits have become more popular with domestic consumers, even those who prefer imported confectionery, due to their improved quality and packaging and their prices are normally 20 percent lower than imported products.

 

Ninety percent of the sweets and biscuits sold at supermarkets and trade centers during the traditional Lunar New Year (Tet) were made in Vietnam, according to a recent survey conducted by the ministry.

 

The ministry has also asked businesses to focus on distributing goods in rural and border areas and to pay more attention to post-sale services and staff training.