Accountant training plan ticked

Deputy Finance Minister Nguyen Huu Chi and Chief Executive Officer of the Association of Chartered Certified Accountants (ACCA) Helen Brand yesterday signed an agreement on a Joint Examination Scheme in Viet Nam.

Under the agreement, which will be effecting from 18 April 2012 to 17 April 2017, ACCA would support the ministry in providing high quality services, supporting members in training, updating professional knowledge, assist in obtaining and maintaining high standards in professionalism, morals and qualifications.

In addition, ACCA committed to fund full scholarships for the ministry's officers to attend courses to build a workforce of accountants with intensive experience and international standards, contributing to bridging the gap between Viet Nam and other countries in the accounting and auditing field.

APEC aviation security workshop in HCMC

The third APEC air cargo security workshop opened in Ho Chi Minh City on April 19, drawing the participation of over 100 delegates from 21 APEC economic members, international organizations and regional airlines.

The workshop, a follow-up of the last two workshops, in Thailand in 2008 and Singapore in 2010, aims to review issues for ensuring air cargo security and propose measures to further strengthen regional cooperation in the field.

Assistant to the Vietnamese Foreign Minister Nguyen Ngoc Son stressed that the workshop is one of the first steps in vital APEC cooperation adopted by senior leaders, including the new growth strategy, the strategy on trade safety and anti-terrorism and the action plan on facilitation of travel for passengers and cargo.

As a member of ASEAN, APEC and other regional mechanisms, Vietnam has continued to participate in cooperative programs, contributing to joint efforts to strengthen linkages and economic connectivity and create a safe and favorable environment for trade and investment, he said.

Ambassador Muhamad Noor Yacob, Executive Director of the APEC Secretariat, affirmed APEC’s potential to boost cooperation in aviation security, describing it as a significant step towards the promotion of economic development and increased linkages.

He stressed the APEC Secretariat’s readiness to support and work closely with members to implement specific cooperative programs and initiatives in the area.

Addressing the workshop, a representative from Vietnam National Civil Aviation Security Committee noted aviation security is a field of interest for Vietnam , adding that the country actively participates in international cooperation within bilateral and multilateral frameworks, including APEC, in order to ensure aviation security in the region.

At the workshop, APEC members discussed the creation of policies and application of programmes to ensure air cargo security, technological solutions and initiatives on air cargo security, plus measures to increase cooperation among APEC and between APEC and concerned international organizations.

The workshop’s common report with key recommendations is expected to be adopted at the end of the event on April 20. The report will be submitted to the second APEC senior officials’ meeting scheduled for next month in Russia and the 24 th APEC foreign and economic ministers’ meeting in Russia in September.

Vietcombank launches new card

The Joint Stock Bank for Foreign Trade of Viet Nam (Vietcombank), Viet Nam Airlines and American Express yesterday launched the Vietcombank Viet Nam Airlines Platinum American Express Card.

The Card was designed for Vietnamese consumers who expect the best benefits and services at home and abroad.

The new bank card is the third product, following the success of the Classic and Gold versions, launched in partnership amongst these three leading customer service brands.

The card offers the best miles earning rate on spending and premium frequent flyer benefits in the market as well as exclusive banking services, insurance, travel and entertainment privileges both at home and abroad.

FTAs good for Vietnam: US expert

The signing of free trade agreements (FTA) with the US and other countries will facilitate Vietnam’s trade growth, Prof. Susan Schwab, former US trade representative, told a seminar in Hanoi on April 19.   

Schwab said this at a seminar on negotiating and signing free trade agreements, which was jointly held in Hanoi by the Vietnam's National Assembly (NA)'s External Relations Committee and the Support for Trade Acceleration Project (STAR) project under the United States Agency for International Development (USAID) in Vietnam on April 19.

FTAs will help Vietnam shift its import-export structure as applied to fit the global supply chain, increase FDI, improve the quality of goods and services, and create more jobs, said Schwab.

She pointed to the fact that Vietnam has enjoyed low tariffs on its exports to other countries after it joined the World trade Organisation (WTO) in 2007.

Vice Head of the NA External Relations Committee Ngo Duc Manh and the US Ambassador to Vietnam David B. Shear emphasized that globalization and international economic integration are objective trends which involve more and more nations and cover all fields.

In this process, they said, nations have shown their great interest in trade, considering it a driving force behind their development, as well as promoting mutual understanding among peoples.

Manh reiterated Vietnam’s consistent policy of embracing on the international economic integration on the basis of national independence, self-reliance, equality and mutual benefit.

Former Deputy Prime Minister Vu Khoan proposed that Vietnam take its opportunities to compete negotiations and signings of FTAs.

The success of FTA negotiations is also dependent on the direction of the Government and cooperation between ministries and agencies, he said.

According to Deputy Minister of Industry and Trade Tran Quoc Khanh, Vietnam has signed eight FTAs with its partners. He proposed that Vietnam integrate FTA negotiations into its 2011-2020 socio-economic development strategy and restructuring of the economy.

Aussie insurer to buy stake in local firm

The Insurance Australia Group (IAG) has entered into a provisional agreement to acquire a strategic stake of 30 per cent in the AAA Assurance Corporation.

The IAG managing director and CEO, Mike Wilkins, said in a press release that the deal would cost approximately US$16 million.

"This investment will allow us to enter Viet Nam's general insurance market, which has been growing at a compound rate of 25 per cent per annum since 2009.

"With a low level of insurance penetration, the market is expected to continue growing at similar levels for another three to five years," he said.

AAA is predominantly a motor insurer, selling directly to customers through a network of regional and city-based branches. Since its establishment in 2005, AAA has grown to become the sixth largest motor insurer in Viet Nam.

IAG is expected to support AAA with expertise in the areas of underwriting, pricing and actuarial, as well as risk and claims management.

Under the joint venture arrangement, IAG will have board representation, the right to appoint certain key management personnel and affirmative voting rights over key business matters.

The investment is subject to regulatory approval and is expected to be completed by June 2012.

Scheme adopted to expand cultivation sector

The ministry of Agriculture and Rural Development has recently approved a 2011-2020 scheme to boost the agricultural sector.

The plot aims to increase productivity and income, to enhance quality and competition and to ensure national food security.

Crops would account for about 51 per cent of land use, followed by industrial plants at 24 per cent, fruit trees at 14.4 per cent and vegetables at 9.7 per cent.

The sector also strives to increase the value of production between 2 and 2.5 per cent each year and to generate 49.5 million tonnes of rice and corn annually.

The sector is expected to reach an agricultural export turnover of US$22 billion by 2020.

The scheme requires nearly 200,000 ha of land to be reclaimed for cultivation, half of which will be used for growing perennial plants, 60,000 ha for annual crops and the rest for rice.

The Department of Crop Production will be responsible for working with relevant agencies and localities to review and improve the development of each major crop across the country, including the processing and commercial stages.

Market development and trade promotion have been deemed priority areas, and efforts will be focused on large, traditional markets such as the US, EU, Japan, China, and Africa. The sector also plans to expand its market to Eastern Europe and the Middle East with the aim of boosting agricultural consumption.

Cosmetics firms exhibit goods

The Viet Nam International exhibition on cosmetics, beauty, hair and spa's (Cosmobeaute) opened yesterday at the Sai Gon Exhibition and Convention Centre in District 7.

Organised by the Malaysia-based ECMI Trade Fairs S.E.A. Sdn Bhd and Minh Vi Exhibition and Advertisement Services Co, Ltd, the fifth edition has attracted more than 100 exhibitors from 18 countries and territories, including Italy, Singapore, South Korea, Taiwan, Malaysia, Thailand, Indonesia and the host nation Viet Nam.

The biennial event features 178 booths displaying new equipment, technologies and products in the cosmetics, hair and spa, and health and wellness industries.

It also includes seminars on beauty, healthcare and plastic surgery as well as other activities like hair shows and demonstrations on the latest industry trends. The exhibition, which closes on April 21, is expected to welcome about 10,000 local and international visitors.

Thai Group set to invest in Danang tourism

The Amata Group of Thailand views Danang as a long-term investment opportunity in Vietnam, its President Vikrom Kromadit has said.

Talking with Vietnam Investment Review newspaper, Amata Group President Vikrom Kromadit said in his eyes Danang boasts many advantages as the most attractive tourist destination in Vietnam because of its beautiful coastal location and good airport infrastructure. In addition, he said, the city’s development master plan focuses on tourism services until 2050, adding that more tourists will travel by large cruise liners in the future.

The Amata Group has invested in infrastructure of Vietnam’s industrial zones (IZ) for 17 years and has a commitment to developing modern and environmentally friendly IZ, the company president said.

Amata Vietnam Joint Stock Company, a member of the Amata Group, is now developing a 20ha trade zone at the Amata industrial zone in Bien Hoa city, Dong Nai province, with an investment capital of US$2 billion.

Regarding the competitiveness among Vietnam’s IZs, he said Vietnam has too many IZs and many of them have merged or become bankrupt.

The Amata Group suffered some impact from the Vietnamese Government’s recent adjustment in granting licences to industrial and export processing zones, he said, adding that the move is necessary to raise the quality of competitiveness among the zones.

To attract more investors in IZ infrastructure, Kromadit suggested Vietnam reduce inflation and interest rates and raise infrastructure quality, particularly transport.

Thai products woo Vietnamese consumers

A large number of visitors attended the opening of a Thai product exhibition in Hanoi on April 19.    

At the event, 150 stalls are showcasing good-quality products, including food, beverage, fruit, household commodities, garments, jewelry, cosmetics and beauty care services, vehicle equipment and spare parts, souvenirs, interior decoration, and arts and handicrafts.  

Anuson Chinvano, Thai Ambassador to Vietnam, spoke highly of the development potential of the Vietnamese market, and said the exhibition not only advertises Thai products, but also provides good opportunities for Thai businesses to explore this market, seek partners and increase bilateral trade.

The four-day exhibition is being organized by the Vietnam Trade Fair and Advertising Company (Vinexad) in co-ordination with the Thai Embassy in Vietnam and the Department of International Trade Promotion (DITP), under Thailand’s Ministry of Commerce.

Ha Noi to free up land for investors

The capital would speed up infrastructure construction in its industrial and processing zones to meet investment demand, the industrial and processing zone management board has revealed.

Accordingly, infrastructure will be improved to make more land available to serve investment, especially foreign-direct investment.

In addition, land clearance will be accelerated in local zones such as Phung Hiep and Bac Thuong Tin.

During this time, the board will support companies in solving difficulties faced in operation and investment.

The management board, however, will withdraw investment licences from slow and non-effective projects and those who violate Vietnamese law.

Capital disbursement will be enhanced to 60-65 per cent of total registered capital for 2012.

Since the beginning of this year, about US$158 million has been poured into the city, about 4.4-time higher than the same time last year.

Up to this month, about 517 projects have been registered in Ha Noi.

The management board affirmed that in the coming time they would strengthen investment promotion as well as create preferential conditions to attract interest. This year, the city hopes to attract $250 million in investment.

Paper industry targets expanded production

Paper consumption in Viet Nam is expected to increase by a minimum of 13 per cent annually until 2015,reaching 4.37 million tonnes by then, the fifth industry congress heard in HCM City yesterday.

Vu Ngoc Bao, general secretary of the Viet Nam Pulp and Paper Association (VPPA), said: "Paper consumption in Viet Nam remains low, just 30 kilogramme per capita per year compared to the world average of 55kg."

Domestic production only met around 58 per cent of the local demand. It was 1.5 million tonnes while demand topped 2.6 milion tonnes last year, meaning the rest has to be imported, Bao said.

Most of the import was high-quality paper not produced in the country and for industrial use, he added.

The association said the outlook for the paper industry was bright, but for sustainable development firms should focus more on improving production and wastewater treatment technologies and training human resources.

It also urged the Government to draft policies to encourage collection and use of recycled paper to reduce import of raw materials.

"Globally 70 per cent of paper production is from recycled paper, but in Viet Nam the figure is far lower," it said.

It was a mere 34 per cent last year compared to 75-78 per cent in Japan and Germany and 65-78 per cent in Viet Nam's neighbouring countries.

The association advised businesses building pulp and paper production plans to set up modern production lines and manufacture high-quality coated papers used in printing and packaging to replace imports.

It also advised them against making chemi-thermo-mechanical pulp and newsprint since their production exceeded demand.

The event was organised within the framework of the first international exhibition on paper chemicals and technologies (Paper Chem Tech) which opened yesterday at the Saigon Exhibition and Convention Centre.

The exhibition, the first of its kind held in the country, features the latest machinery, equipment and accessories used in the paper industry from more than 60 exhibitors, including those from China, India, South Korea and Viet Nam.

It is being organised by the Minh Vi Exhibition and Advertisement Services Co Ltd and the China National Chemical Information Centre.

The three-day event is expected to attract more than 3,000 visitors.

Plan to axe wood imports
 
The Government plans to develop 8.4 million ha of forest by 2020 to generate 22 million cu.m of wood of various kinds to ensure sufficient supply for domestic production activities, according to the Handicraft and Wood Industry Association of HCM City (HAWA).

HAWA Vice Chairman Tran Quoc Manh said that, with the 8.4 million ha of forest in 2020, domestically produced wood materials would be able to replace imported materials.

"Viet Nam now has to import between 70 and 80 per cent of wood materials for producing export wood products annually," Manh said.

In 2011 alone, wood enterprises had to spend US$1,209 million on importing wood materials, and the fund was $340 million in the first quarter of this year.

Viet Nam's main wood material exporters are Laos (30.8 per cent), the US (14.1 per cent), China (8.9 per cent) and Malaysia (8.8 per cent).

"The main wood imports include medium-density fibreboard or MDF (accounting for 12.8 per cent), rosewood (11.2 per cent), ironwood (8.4 per cent), pine (7.1 per cent) and poplar (5.0 per cent)," Manh said.

In 2008 the country had 12.9 million ha of forest, including 10.3 million ha of natural forest and 2.6 million ha of planted forests.

Figures also show that between 2002 and 2007 the country's forest coverage grew by 0.5 per cent annually due to Government and public efforts in forest protection and development.

However, domestic forests still can meet only 30 per cent of wood producers' demand for wood materials, Manh said at a conference held on Wednesday in HCM City.

In addition to extending the country's forest coverage, Manh said the domestic wood industry also planned to carry out several measures to become one of the leading manufacturers of wooden furniture in Southeast Asia.

According to the plan, the industry will continue participating in the global supply chain and value chain, and intensify investments in trade promotion.

The industry will also set up bonded and unbonded warehouses in overseas markets, and identify major importers in those countries who can help Vietnamese wood enterprises directly sell their products.

Viet Nam has 2,526 wood processing enterprises, including 300 foreign-invested companies, with 600 factories specialising in manufacturing export wood products. These have created 250,806 jobs.

According to the Ministry of Industry and Trade, the industry's export value increased from $219 million in 2000 to over $3.9 billion in 2011. In the first quarter of this year, the industry exported nearly US$1 billion of products.

Wooden products have become one of the country's major export earners in addition to rice, seafood, textiles and apparel and footwear.

The industry's annual growth rates have been high, with 31.2 per cent in 2010, 13.7 per cent in 2011, and 18.3 per cent in the first three months of this year.

In addition to these successes, the domestic wood processing industry still has some limitations that restrict enterprise development, according to Manh.

"Reliance on imported materials, lack of market information and good managers, designers and marketing workers are the biggest obstacles for domestic wood processors," he said.

Most wood processors are small – and medium-size companies that use manual workers whose labour productivity is low.

Thousands of projects behind schedule: Ministry

The Ministry of Investment and Planning has recently submitted a report on the investment progress and evaluation of projects in 2011.

During 2011, Vietnam had a total of 38,420 projects, of which 4,436 projects are running behind schedule, said a representative of the Ministry.

The slow progress of these projects is one of the reasons for increase in costs and negative impact on the economy.

According to the current investment management laws, the government does not allow adjustments in the total investment capital of a project, in case of price fluctuation or change in policies.

Overseas Vietnamese can buy unlimited property in Vietnam

The Land Registration and Statistics Department under the Ministry of Natural Resources and Environment has reported that 299 foreign expatriates and non-resident Vietnamese have bought houses in Vietnam.
For illustration only

Of these, 252 chose to buy houses in Ho Chi Minh City, while four preferred to buy in Hanoi.

Overseas Vietnamese who have maintained their Vietnamese citizenship are permitted to own unlimited property, according to the latest Land and Housing Law.

The new law stipulates that overseas Vietnamese are eligible to buy property in Vietnam and may enjoy other privileges, such as transfer of land-use rights, use of credit organisations to mortgage their property, or freely lease out property.

This allows for the same freedom and equality as that of residing Vietnamese citizens, regarding property ownership in Vietnam.

Credit push to shock the economy in 2013

Excessive efforts to reach set credit growth in 2012 will punish economic growth in 2013.

Many businesses have already gone bust in 2012 on the back of negative credit growth and the State Bank had taken diverse measures to help firms like pulling down banks’ ceiling deposit rate and most recently loosing the valve on property credit. However, firms are still in the woods.

“Credit grew more than 1 per cent in March. If credit hiked 1.5-2 per cent per month in the next month, our set target of 15-17 per cent in 2012 will be within reach,’ said State Bank governor Nguyen Van Binh.

National Financial Supervisory Committee chairman Vu Viet Ngoan, however, assumed achieving 2012 set credit growth would be an arduous task given firms’ current poor health and slowing economic growth.

“The second quarter’s credit growth could be 5-6 per cent. It would be almost impossible for the credit to augment to 12-13 per cent in the second half of the year. If we strive to push up credit growth using excessive measures, it may hurt economic growth in early 2013,” Ngoan warned.

Ministry of Planning and Investment’s Academy of Development and Policy president Dao Van Hung assumed economic vulnerabilities might last until the end of June 2012, so that a monthly credit growth of 2 per cent in the second quarter would be unrealistic.

Economic experts assumed inflation taming must be put at top priority and suggested the government flexibly apply diverse policies to help firms weather the storm and ensure reasonable economic growth.

Ngoan had attributed slow credit growth to banks’ liquidity problems.

“Part of the banking system currently faces a liquidity crunch, but not just 6 per cent of banks as reported by the central bank. If these banks’ illiquidity is not tackled in an efficient manner, it could hurt entire banking system and interest rates will not fall,” said Ngoan.

Ngoan suggested taking a flexible approach in regulating fiscal and monetary policies to tackle slowing credit growth.

“Many banks face poor liquidity since they cannot take back bad debts to pay for high mobilising rates and re-financing loans. They then have to raise deposits at high rates to pay off debts. Bank illiquidity could not be settled unless the central bank strives to know where bank capital flows have been going,” said senior economic expert Pham Do Chi.

Copyright issues cloud software exports to US

Local garment, textile and leather exporters have been urged to take US software copyright issues onboard.

A State of Washington Attorney General document was sent to the Attorney Generals of other US states reaffirming its determination to punishment software copyright infringements in emerging markets.

The document read that by some estimates, the commercial value of unlicenced software used in emerging foreign markets tops $17 billion, which means that foreign manufacturers engaged in software piracy are able to evade sizeable IT costs.

Meanwhile, American manufacturers routinely bear these IT costs as an unavoidable cost of doing business legally in the United States.

“Through our research, policy development, and enforcement efforts, we continually seek to achieve the proper balance between competition and intellectual property – one that best promotes innovation and thereby spurs continued economic growth and development.

Maintaining the right balance is particularly challenging in today’s global markets, where the treatment of intellectual property in other countries inevitably impacts competition in the US,” said Rob McKenna, State of Washington Attorney General.

Pham Xuan Hong, deputy chairman of Vietnam Textile and Garment Association (Vitas), said large-scale textile and garment companies often used licenced software in their production process. However, to avoid any barrier for accessing US market, local firms should consider and review their software usage to use licensed software.

On April 4, 2011, the Washington State legislature passed a bill making it a violation of the state’s unfair competition laws for any business to sell products in Washington “while using stolen or misappropriated information technology in its business operations.”

Although this is not a US Federal law, the UCA does matter as Seattle is a major port of entry in Washington State for goods from Asia. Seattle ranks as the seventh largest US port by trade volume.

Michael Mudd, senior partner of Asia Policy Partners - a Hong Kong-based technology consultancy firm specialising in trade related business, said there was still an opportunity for Vietnam to increase exports to the US.

“A better way to look at it is to look at what the law is intended to achieve and then examine any competitive opportunities, especially in relation to the giant in the north, China,” said Mudd.
Vietnam’s knit and woven apparel industry was the largest export sector at $5.8 billion in 2010 to the US.

Binh Thuan urged to become clean energy production center

The Southern Central Coastal province of Binh Thuan on Thursday celebrated its 37th liberation and 20th re-establishment anniversary.
Phan Thiet beach

During the past 20 years, Binh Thuan has made “comprehensive and positive” progress toward industrialization and modernization, said Secretary of provincial Party Committee Huynh Van Ti.

The local economy expanded at 12.3 per cent on average, industrial-construction output and agricultural value rose 270 times and 17 times, respectively.

Last year, per capita income reached VND 26.8 million (equivalent to $1,288), up 10 times.

Speaking at the celebrations, Deputy PM Nguyen Xuan Phuc appreciated the province’s great achievements over the past years.

He also pointed to potentials Binh Thuan should further exploit to achieve sustainable development, like seafood catch, beautiful beaches, and wind power.

The Deputy PM urged the local leaders to take comprehensive measures to convert the locality into one of the country’s clean energy production centers.

High-tech farming in Dalat    

In recent years, many farmers in Dalat in Lam Dong Province have actively invested billions of VND to establish plant tissue culture laboratories and create high quality, disease-resistant breeds of plants for export.

Many farmers have their own laboratories and hire well-trained technicians and agricultural engineers.

Nowadays, nearly 90 percent of the 58 plant tissue culture laboratories in Dalat are funded by farmers and private investors. Each of these facilities produces an average of 500,000 seedlings annually.

Truong Duc Phu is a farmer who has attached himself to a flower growing career since the 1980s. Six years ago, after hearing that using the plant tissue culture method in breeding can effectively produce standard seedlings, Phu and his wife invested in a private tissue culture laboratory at home that began with only two transplant rooms.

Now, each year, his facility can supply the domestic market with about two million flower seedlings, including anthuriums, chrysanthemums, gerberas, carnations, and tulips, in addition to strawberries. With current prices ranging from VND700 - 5,000 per seedling, Phu can make an annual profit of VND3-4 billion (USD144,230 – 192,300).

To produce a sufficient amount of seedlings, Phu employs four engineers and 20 senior technicians at a salary of VND3.5-5 million a month at his laboratory. His seed farm named PH, located in Ward 11 of Dalat, covers an area of half a hectare, including plant nurseries, a parent tree area, workshops and a row of transplant rooms, which are all clean and spacious, thanks to good investment.

“Up to now, I’ve invested over VND2 billion for each separate room with 12 tissue culture propagation cabinets”, Phu estimated.

Similar to Phu is Le Van Hai, a farmer living in the agricultural zone of Thai Phien in Ward 13 who is now the director of a plant tissue culture laboratory. In his two-story house built on an area of 40 square metres, a whole story is used as a transplant room for propagation.

With three engineers and a technician, Hai’s laboratory annually produces about 100,000 seedlings of 25 different types of chrysanthemums. Pointing to the two propagation cabinets and some other bio-chemical equipment, he happily explained, “These are my farming tools. Thanks to them, I and some fellow villagers have gradually become modern farmers. Our lives are also much better.”

“Through working for a farmer, I have gradually developed a greater love for and stronger attachment to Dalat’s agriculture”, said Phan Thi Ngoc Hien, a student pursuing a bachelor of biology while working for Truong Duc Phu.

Hien added that working for a farmer has enriched her experience in farming and out-of-school knowledge. She now dreams of opening her own plant tissue culture lab in the future.

Nguyen Thi My Tham, who graduated from the Biological Faculty of Dalat University and has five years of experience working in nurseries of farmers, shared similar thoughts, “Biology graduates are not always necessarily able to work in institutes, universities or academic agencies. The satisfactory working environment as well as appropriate salary and allowances in farmers’ labs can bring us stability.”

Nguyen Thi Tuong Vi, an official of Lam Dong farmers’ union and director of the program “Applying plant tissue culture techniques in producing seedlings”, affirmed that most cadres working in plant tissue culture laboratories are experienced graduates and technicians with high qualifications.

However, Vi also proposed that “the government should establish analysis and test centers to evaluate the quality of seedlings and effectively support farmers who are producing seeds using plant tissue culture techniques”.

More farms abandoned after tra fish price free-fall

Despite the current material tra fish shortfalls for processing and exporting, the price of Pangasius fish, or tra fish, has suffered the deepest plunge since last year, pushing local farmers into the red with farms abandoned en masse.

Since the start of the week, material tra fish prices have continued on a strong downtrend to below VND20,000 a kilo in An Giang, Dong Thap and Tien Giang provinces in the Mekong Delta, lower than farmers’ production costs.

One kilo of white-meat fish eligible for export is priced at a meager VDN20,000-20,300, down by VND2,000 a kilo from ten days ago, said farmer Tang Trinh in Dong Thap Province. This means fish prices have slid by VND7,000-7,500 a kilo compared to this year’s record high of nearly VND28,000 of the same category.

Meanwhile, local seafood processors and exporters are paying only VND18,500-19,000 for one kilo of other kinds of tra fish, the lowest level recorded since last year.

According to the An Giang Fishery Association (AFA), tra fish meeting export standards is being bought at a price of VND23,000-23,500 a kilo by eight local large seafood firms. In reality, local farmers could sell the yield at only VND20,000-21,000 for the first-grade fish, and VND19,000-19,500, for one kilo of grades 2 and 3 as observed by the Daily.

“Local firms insist on pulling down tra fish prices and we have no choice but to sell all or we will incur more losses,” farmer Vo Van Thanh in Chau Thanh District said.

“We spend at least between VND23,000 and VND24,000 producing one kilo of tra fish, so we are suffering a loss of between VND3,000 to VND5,000 for one kilo with the current low price,” Trinh stated.

The same situation has also hit tra breeder fish, with its price staying at VND35,000 a kilo for grade-1 fish and VND38,000-40,000 for the second grade.

About 30% of local farming areas have been deserted in Chau Thanh District, the key commercial tra fish farming area in Dong Thap Province.

As of last Friday, farmers in the province had abandoned tra fish farms totaling 80 hectares, reported the provincial Department of Agriculture and Rural Development.

Trinh attributed the lamentable situation to the sharp price fall of tra fish discouraging farmers regardless of dipping breeder fish prices.

Farmers in Chau Phu District in An Giang Province said suspending farms would keep rising if tra fish prices remain at the current lows.

Quang Nam launches tourism marketing plan

Quang Nam Province authorities have listed marketing objectives for this year’s tourism promotion following a survey conducted by local department of Culture, Sports and Tourism in collaboration with UNESCO and the Netherlands’ SNV.

The province sets its goals to increase tourists’ staying duration, the number of tourists revisiting the locality, and tourist arrivals in low season.

Local tourism authorities said it will deploy public relations campaign and launch the World Heritage Road to meet its objectives.

Identifying specific marketing objectives plays a key role in creating a good and feasible tourism marketing plan, said Randy, a UNESCO tourism expert.

Given 2012’s gloomy economic situation around the world, Quang Nam still aims to gain a 9% pickup in the number of tourist arrivals with 2.76 million thanks to feasible strategy highlighting its competitive advantages and clear market segments, he said in a report of the survey.