Vietnam companies go on trade mission to South Africa

Representatives of 10 Vietnamese companies are in Johannesburg, South Africa to attend an international trade exposition running June 25-27 in the hopes of establishing new partnerships.

The Vietnam News Agency reports that the topics of the expo include gifts and premiums, houseware and kitchenware, fashion accessories, electrical and electronic products, office equipment and stationery, and toys.

Citing the expansive and continual growth of South Africa, Ambassador Vu Van Dung said in a speech at the opening on June 25 that the region is ripe with opportunity for partnerships with Vietnamese companies.

Companies that are on the trip include the Thang Long Food Processing Company, Sunhouse Joint Stock Company and Toan Thien An Company that specialize in processing seafood, housewares and fashion accessories.

More than 652 companies from 34 countries around the globe attended last year’s exhibition in Johannesburg to exhibit their wares, said Ambassador Dung, adding that 12,480 visitors from 72 countries attended it.

European SMEs look to rule changes

More European small-and medium-sized enterprises are finding Vietnam a favourable destination for investment in anticipation of the EU-Vietnam Free Trade Agreement and a new law supporting small-and medium-sized firms.

The EU-Vietnam Free Trade Agreement (EVFTA) is expected to be ratified and come into force in 2018, while Vietnam’s Law on Supporting Small-and Medium-sized Enterprises (SMEs) was ratified in this June and will become effective from January 1, 2018.

Tran Vu Hanh, a partner DFDL Vietnam law firm, told VIR that Vietnam’s commitments under EVFTA for certain service sector is higher than in other trade pacts.

For example, EU companies can form joint ventures with Vietnamese partners (with foreign equity not exceeding 51%) to provide equipment, rental, and leasing services in Vietnam-as such services are unbound under the country’s World Trade Organization (WTO) commitments.

European companies are also keen on the incentives of the Law on Supporting SMEs in addition to the Law on Enterprises and the Law on Investment.

“Foreign companies will benefit from the new law if they meet the criteria applicable to SMEs in Vietnam, including: having no more than 200 employee contributing social insurance and total capital not exceeding VND100 billion (US$4.4 million) or having no more than 200 employees contributing social insurance and the previous year’s total revenue not exceeding VND300 billion (US$13.2 million). Investors will have to wait, however, for decrees containing governmental guidance on the implementation of the law,” she said.

According to Thomas McClelland, chairman of EuroCham’s Tax and Transfer Pricing Sector Committee, the new measures contained in the Law on Supporting SMEs will make good on the government’s pledge to encourage private firms and create a favourable environment to support startups and innovative enterprises.

The law will benefit both local enterprises-which contribute nearly 50% of Vietnam’s GDP-and foreign-invested SMEs. The reduction in the corporate income tax rate to 17%, simplification of accounting and tax filling procedures, and better access to credit will be a boon to EU-invested SMEs in light of the coming enforcement of EVFTA.

EVFTA is an innovative and ambitious deal, covering a wide range of areas from trade to sustainable development and touching many economic sectors. The foreseeable benefits include tariff removal, lower import costs, trade liberalisation, global value chain expansion, competitive advantages maximisation, and supply diversification.

The agreement is set to bring more business and investment opportunities to companies from both sides, while also establishing innovative investment protection mechanisms.

Nicolas Audier, vice chairman of EuroCham, said that EVFTA will be a landmark event in the relations of Europe and Vietnam, and has the potential to foster one of the most dynamic intercontinental trade corridors in the world.

“But EVFTA is not only about trade and investment, it will also bring a new attitude towards business,” he said. “It will create conditions for European knowhow and SMEs to reach Vietnam more easily, with new cutting-edge, smart, and environmentally-friendly solutions and technology. SMEs are the fabric of Europe and Vietnam’s business landscape, and they will benefit from the new environment established by the agreement.”

EuroCham’s Business Climate Index for the first quarter of this year shows that businesses are already anticipating EVFTA. Indeed, firms’ satisfaction scores have jumped to a record level of 86 out of 100. This positive evaluation is thought to be related to the performance of Vietnam as a market, but also to the coming deal. 

Vietnam, an emerging market for US beef

Over the past few years, the American Brahman Breeders Association and US Brahman breeders have been cultivating a new business relationship with the agriculture community in Vietnam.

Vietnamese cattlemen, says the Brahman Journal, are now importing bulls and other breeding stock looking to utilize American Brahman genetics and husbandry techniques on a massive scale to boost in-country beef production.

The Vietnamese cattle breeders are primarily interested in Red Brahman genetics. Most of their domestic cattle herd is derived from Red Sindhi, a popular Zebu dairy breed that originated in Pakistan, and the agricultural community in Vietnam prefers the Red Brahman genetics as they are used to red Bos indicus cattle.

Vietnam is one of the fastest-growing markets for US food and agricultural products. US exports to Vietnam totalled more than US$2.3 billion in 2015, a 357% increase from 2007, which is the year Vietnam joined the World Trade Organization.

Vietnam ranks as the US eleventh largest agricultural export market.

The ABBA and the Holstein Association USA conducted a successful trade mission to Vietnam October 29-November 7, 2016.

The focus of the trade mission was to introduce and promote US beef and milk breeds and demonstrate how the utilization of high quality genetics could help develop the Vietnamese cattle segment.

We don’t do many trade missions, said one of the leading representatives on the trade mission, noting that the case of Vietnam is different. Vietnam is a new, emerging market, and the people there are very excited about the American Brahman.

During the trip, the trade mission conducted an educational workshop in Ho Chi Minh City that was attended by more than 80 producers, key leaders and government officials.

Participants included representatives from the Ministry of Agriculture and Rural Development, agriculture departments from several provinces, veterinarians, agriculture engineers as well as large animal corporations and producers.

The workshop was held at the Caravelle Hotel meeting facilities and was highly publicized with national television and newspaper coverage. The workshop covered a variety of topics from genetics, environment and housing to importation procedures and management.

After the workshop, the trade delegation participated in ranch tours as well as meetings with government officials. They also visited the Ruminant Husbandry Centre and the National Institute of Animal Science in Vietnam. These visits allowed them to meet many individuals and organizations vital to the beef and agriculture industries in Vietnam.

The Vietnamese cattlemen are very interested in growing their beef cattle segment, and there is a substantial demand for more American Brahman genetics to be imported into their country, said the leading US trade representative.

In addition to providing the Vietnamese agricultural community with information about the Brahman breed, the trade mission worked to facilitate talks between them and animal science professionals in the US.

The Moncada Breeding Station - Vietnam Ruminant Breeding Centre in Hanoi is currently the only cattle semen collection station in the country, and it is run by the government. To bolster the country’s beef and dairy cattle genetics, the centre collects bulls and sells semen to citizens at an economical rate.

Over the last two years, the Moncada station has imported 20 Red Brahman bulls from breeders in the US.

The first shipment consisted of ten young, breeding-age Red Brahman bulls from top ranches in Texas and Louisiana, including K Bar Farms, Detering Red Brahmans, Broken Triangle, Oden Ranch, 4L Cattle and a few others.

During the US 2016 trade mission, the breeding station made a verbal commitment to import ten more bulls, due to the success of the 2015 importation and the high demand for American Brahman genetics.

In March of 2017, Alfredo Muskus of Santa Elena Ranch in Madisonville, Texas escorted the second shipment of Red Brahman bulls on their journey to Vietnam.

The bulls were selected from top breeders including HK Cattle, Detering Red Brahmans, Santa Elena Ranch, Canyon Creek and Rich Cattle Company. They were between a year and eighteen months old.

World Wide Livestock Express handled the quarantine, and TK Exports, Inc. managed the exportation of animals from Houston, Texas to Hanoi.

It was an incredible experience, Alfredo said. The hospitality was great, and the people were very excited about the quality of the American Brahman bulls and the semen collected from previously imported animals. I am enthusiastically looking forward to working with them again in the future.

HCM City eyes boost to dental tourism

Dental tourism has been identified as one of Ho Chi Minh City’s five main medical tourism products, according to its Department of Tourism.

Every year Vietnam gets around 100,000 medical tourists from many countries, including the UK, France, Australia, the US, and Cambodia, Bui Ta Hoang Vu, Director of the department, said.

Dental care, cosmetic surgery, traditional medicine and acupuncture, screening for diseases, and artificial insemination, which are keeping pace with regional standards, are promising medical tourism products, he said.

But dental care in Vietnam costs only half or a third of the cost in neighbouring countries, he said.

On June 24, the department in coordination with the Department of Health organised the first ever dental tourism fair at the Independence Palace.

“It is a great opportunity to introduce new dental tourism products to domestic and foreign visitors,” Vu said.

Nguyen Duc Minh, Director of the HCM City Hospital of Odonto-Stomatology, said the city has more than 3,000 highly skilled and experienced dentists, or more than 50 per cent of the total number in the country.

With its potential, the city could attract more tourists who combine travel with dental care as well as promote the Vietnamese dental brand to compete with countries like Singapore and Thailand.

The fair also featured an exhibition on dental and travel services and dental technologies.

At the event, the HCM City Odonto-Stomatology Association unveiled a dental tourism club that will bring together Vietnamese and foreign experts in the field.-

Vietnam-Brazil trade up 16 percent

Two-way trade between Vietnam and Brazil hit about 1.73 billion USD in the last two quarters, representing a year-on-year increase of 16 percent, according to the Vietnam Commercial Affairs Office in Brazil.

The Latin American country’s export to Vietnam was estimated at 665 million USD, down 13 percent against the same period last year.

Meanwhile, Vietnam shipped goods worth 1.065 billion USD to Brazil, an increase of 46 percent. 

The export of Vietnam’s staples to Brazil in the first five months of this year increased strongly again, especially synthetic fabric (over 300 percent), rubber and products from rubber (73 percent), telephones and electronic equipment (over 57 percent) and aquatic products (43 percent). 

The Vietnam Commercial Affairs Office suggested Vietnamese exporters coordinate closely with Brazilian importers in handling complaints of relevant trade associations in Brazil, aiming to avoid lawsuits related to trade protection. 

Experts said Brazil is one of the most important markets of Vietnam in Latin America. However, trade between the two nations declined in recent time due to the ongoing unstable politics in the Latin American nation.-

Garco 10 to export products to Japan through Uniqlo

The Garco 10 Corporation – SJC is seeking Japanese partners to bring products to the Japanese market in 2017 and the coming years, said the company’s Deputy General Director Than Duc Viet.

The company will sign an outsourcing contract with Uniqlo, thus supplying garment products for the Japanese brand for export to Japan, Viet said.

Uniqlo products are popular in Vietnam. The brand has 836 outlets in Japan, 416 others in China, 39 in the US and 27 across Europe. It has one new outlet established every week.

Besides, Garco 10 will also partner with Aeon Group to bring its products to the Japanese market.

Previously, Director General of AEON Vietnam Nishitoghe Yasuo said many Vietnamese exporters have shipped their products, such as tra fish, fruits, garments-textiles, foods and household utensils to Japan via its supermarkets.

In 2016, AEON imported about 200 million USD of made-in-Vietnam commodities, mainly apparel products and foods, he said, adding that the Japanese retailer plans to order more from Vietnam soon.

Garco 10’s export earnings to the Japanese market now account for 12 percent of its export turnover.

WB helps Vietnam in trade facilitation, logistics development

Deputy Prime Minister Vuong Dinh Hue had a working session with the World Bank (WB)’s Country Director in Vietnam Ousmane Dione, in Hanoi on June 26 to discuss trade facilitation, logistics development and on-stop-shop model. 

Representatives from the Vietnamese Ministries of Finance, Planning and Investment, Industry and Trade, Transport and Foreign Affairs and the Government’s Office, and the WB experts group attended the session.

WB experts said that Vietnam has approved a national action plan on trade and logistics facilitation based on four pillars, including the simplification of customs procedures and professional management, the enhancement of trade infrastructure capacity and connection quality, the development of a competitive logistics sector, and the increase of coordination between Government agencies and businesses. 

They suggested Vietnam exert comprehensive impacts on logistics value chains and create favourable conditions for foreign trade. 

Although Vietnam has increased transport connection, the country’s multi-modal transportation has yet to catch up with national development, they said. 

At the same time, the production of goods has outpaced the national gross domestic product (GDP) growth rate and infrastructure has failed to meet demands of goods transportation, they added. 

Statistics from the Ministry of Industry and Trade show that during 2016-2020, it needs about 24 billion USD for transport infrastructure. However, the State can afford only one third of the amount. 

Given this, the WB asked the Vietnamese Government to mobilise private capital and credit trade in order to raise the efficiency of transport infrastructure. 

The WB experts also suggested the Vietnamese Government assign the National Committee on One-Stop-Shop Mechanism and Trade Facilitation to be in charge of logistics and call for the involvement of the private sector in the committee. 

Ousmane Dione said that the WB experts group will give advice and technical support to Vietnam while sharing international experience in trade and logistics facilitation. 

Deputy PM Hue said Vietnam is focusing on developing roads and railways along the North-South route without due attention to East-West and coastal routes.  

He called on the WB to take this issue into account, calculating its impacts at national, regional and international levels. 

The Vietnamese Government will call for the participation of the private sector in infrastructure development and  professional inspection over exports and imports under the Public-Private Partnership (PPP) model and, he said. 

The official urged the WB to help the Vietnamese Government with the framework, function, tasks and structure of the committee to facilitate trade, logistics and one-stop-shop model.

Binh Son company receives quality assurance system 2017 certificate

The Binh Son Refinery and Petrochemical Company Limited (BSR),which runs the Dung Quat oil refinery, has received the certifications of top 10 Quality Assurance System 2017 and the Quality Brands Outstanding 2017.

The certificates were awarded by the InterConformity Assessment and Certification and the Asia-Pacific Quality Network (APQN), which are announced by the Global Trade Alliance (Global GTA) annually.

Earlier, the Vietnam Enterprise Institute coordinated with the Global GTA, the InterConformity and the International Accreditation Forum, rated the BSR as the Golden Quality Provider 2017.

After seven years of operation, the BSR has produced and sold 47 million tonnes of products, meeting about 40 percent of domestic petroleum demand.

Its revenue hit 36 billion USD with profit reaching over 13 trillion VND at the end of the first quarter of this year. It contributed more than 7 billion USD to the State budget, more than two times higher than the investment of the Dung Quat oil refinery.

Bac Giang’s six-month export earnings hit 2.7 billion USD

The northern province of Bac Giang earned 2.7 billion USD from exports in the first half of 2017, up 33 percent from a year earlier, marking the highest growth rate compared to the same period of the last three years.

The provincial People’s Committee said the figure is equivalent to 56.3 percent of this year’s target, which was set at 4.8 billion USD. 

Most of the export items were electronic products, apparel and agricultural products which were mainly shipped to the US, China, the Republic of Korea and the European Union.

Bac Giang eyes an annual export growth rate of 20-21 percent between 2016 and 2020. It expects to rake in 6.5 billion USD from exports by 2020 with industrial, agricultural, food and handicraft products being its key export staples.

To that end, Bac Giang will push ahead with administrative reform in the customs sector, thus facilitating export and import activities. 

It will also promote the development of agricultural brands in order to boost the shipment of processed products such as canned agricultural products, lychees, Yen The hill chicken, Chu noodles, and rice wine of Van village.

The People’s Committee added that it will also step up communication activities, shifting the economic structure, developing markets, and fine-tuning financial, credit and investment policies for export-oriented manufacturing. Efforts will also be made to develop logistics infrastructure, human resources and local businesses’ competitiveness.

Kien Giang develops fisheries exploitation

The Mekong Delta province of Kien Giang is focusing on fisheries exploitation on the back of its favourable natural conditions. 

Quang Trong Thao, Vice Director of the provincial Department of Agriculture and Rural Development, said Kien Giang currently offers fisheries logistics services and builds high-capacity fishing vessels for offshore fishing, particularly those with engines of more than 400 horsepower. 

The province’s fisheries output rose from 311,000 tonnes in 2006 to 520,000 tonnes in 2016 and 268,000 tonnes in the first half this year, or half of the yearly target. 

Vice Chairman of the provincial People’s Committee Mai Anh Nhin said before 1990, the province issued regulations on the management of fisheries resources exploitation and protection. In compliance with the Fisheries Law and the Vietnam Marine Strategy until 2020, the province has amended and supplemented such regulations many times. 

At present, the province has embarked on a project to rearrange fisheries exploitation and production, a programme on fisheries protection and development until 2020, and built a major fisheries centre. 

Kien Giang has approved the building and upgrade of 75 fishing vessels worth more than 671 billion VND (29.1 million USD), 21 of them have been put into operation. 

Nhin said the province has partnered with Cambodia and Thailand to manage and tap fisheries resources, particularly migratory species with the support of the Swedish International Development Cooperation Agency and the Southeast Asian Fisheries Development Centre. 

With the support of Japan, Kien Giang is developing high-tech fishing vessel fleets, fishing port, modern fishing markets and several infrastructure. 

In order to fully develop marine-based economy, the locality plans to step up offshore fishing, fishing logistics services and infrastructure in combination with ensuring national defence-security. 

Between now and 2020, further attention will be paid to increasing high-capacity fishing vessels and scaling down low-capacity ones used for inshore fishing. 

At the same time, Kien Giang revised and supplemented planning for disaster-proof wharves until 2020 with orientations to 2030. As scheduled, 23 fishing ports and wharves will be put into operation in Chau Thanh, Phu Quoc, Kien Hai, Kien Luong, Hon Dat, An Minh, An Bien and Ha Tien township. 

According to Nhin, the province will extend external work to attract more investment in the field, and suggest the State provide support for infrastructure construction on populated islands as well as search and rescue and patrol equipment.

Korea’s Hanwha, BCG Bang Duong ink deal to build solar power plant     

BCG Bang Duong Joint Venture and South Korea’s Hanwha Group have signed an agreement to set up a US$100 million solar power plant in Long An Province.

The 125ha plant in Thanh Hoa District will have a capacity of 100MW.

Construction is expected to start in the first quarter of next year, and it will begin to generate electricity in 2019.

Under the agreement, BCG Bang Duong will arrange capital sources, obtain the licence for the project, implement the project and negotiate a power purchase contract with Electricity of Viet Nam, the country’s sole power distributor.

Hanwha will provide the technology and equipment, carry out the installation and arrange international funding for the project.

Nguyen Ho Nam, chairman of BCG – one of the two companies in the joint venture – said, “Understanding the importance and benefits of renewable energy amid rising electricity demand, BCG has chosen to enhance investment in renewable energy projects.

“With Hanwha Group’s experience and modern technologies in the renewable energy field, we believe that [the plant] will [help] mitigate climate change and protect the environment.”

The agreement was signed in Long An on June 22 in the presence of provincial leaders and officials.

Hanwha, founded in 1952, is the eighth largest Korean corporation and has interests in petrochemicals, aerospace, construction, finance, renewable energy, and others.

BCG Bang Duong Joint Venture, a joint venture between Bamboo Capital JSC (BCG) and Bang Dương Investment - Construction - Trading Company, specialises in infrastructure development, real estate and renewable energy. 

ABAC prioritises regional integration, sustainable growth     

Strengthening regional integration, promoting sustainable, innovative and inclusive growth, and enhancing the competitive edge of micro-, small- and medium-sized enterprises (MSMEs) are among the Asia-Pacific Economic Cooperation’s (APEC) 2017 priorities. 

Business Advisory Council (ABAC) chairman Hoang Van Dung unveiled this information at a press conference held in Ha Noi on June 21 by the Vietnam Chamber of Commerce and Industry (VCCI) to provide information on activities being held towards the APEC High-Level Week 2017.

Dung said ABAC’s work plan in 2017 will also focus on encouraging innovations in the digital era, ensuring food security and promoting sustainable and smart agriculture adaptive to climate change.

Regarding the second ABAC meeting in Seoul, Republic of Korea, he said APEC members agreed to focus their recommendations on the benefits of trade liberalisation and development as well as reduction of non-tariff barriers to goods.

The council emphasised the importance of the World Trade Organisation and values of free trade agreements such as the Free Trade Area of the Asia-Pacific, Dung said.

ABAC also noted that a stronger global supply chain will create opportunities to realise the huge potential of the digital economy and lenient policies will enable MSMEs to get easier access to international markets and global value chains and strengthen the participation of women in the economy.

The VCCI will also host ABAC’s third meeting in Canada and the fourth meeting in Viet Nam’s Da Nang City to discuss and give business recommendations. ABAC’s report will be submitted to APEC leaders at the APEC High-level Week to be held in Da Nang in November.

ABAC is the private sector arm of the APEC. APEC economic leaders decided to establish ABAC in November 1995 to advise them and other APEC officials on issues of interest to business. ABAC also responds to requests from various APEC sub-groups for information about the business perspective of specific areas of cooperation.

This private sector body presents recommendations to APEC leaders at an annual dialogue and advises APEC officials on business sector priorities and concerns.

ABAC comprises up to three senior business people from each APEC economy. Appointments are made by the leader of the member economy concerned. The chair of ABAC comes from the economy that is hosting APEC and therefore changes annually. ABAC represents a diverse range of sectors and includes small and large enterprises.

Level the field to foster private sector: forum     

The nation’s private sector needs less intrusive management rather than short-term policy support, some economists said at a forum on Thursday.

They also argued that a genuinely level playing field is the only way that the Vietnamese private sector, mostly comprising small and medium-sized enterprises, can pull its real economic weight.

At the 2017 Viet Nam Business Development Forum (VBDF) held in Ha Noi, they said the private sector was becoming more crucial for attaining national economic growth targets, but it could only progress further with right incentives and support from the Government.

Ho Sy Hung, deputy head of the Department of Enterprise Development under the Ministry of Planning and Investment (MPI), said that the private sector in Viet Nam consists mostly of micro, small and medium-sized enterprises.

These firms account for 97.7 per cent of the total labour and 94.8 per cent of total capital in the private sector, he said.

As such, the majority of private companies fail to generate enough return on sales (ROS), since they lack the capital to upgrade facilities and improve productivity.

As of 2016, the ROS for these small businesses was around 1.72 per cent, compared to the public sector’s 6.04 per cent and the foreign direct investment (FDI) sector’s 6.95 per cent.

Hung urged policy makers to take these low numbers into consideration and issue suitable policies for the private sector, instead of just accommodating the State and FDI sectors.

He said he firmly believed in the potential of the private sector, which contributed 43.22 per cent of the GDP in 2016, while the State sector accounted for 28.69 per cent.

In the first five months of 2017, more than 50,000 new private businesses have been established and an additional VND1.2 billion (US$53,492) has been put into circulation, said.

Vu Dinh Anh, deputy director of the Price and Market Research Institute under the Ministry of Finance, agreed with Hung, saying that the private sector must be given the same treatment as the State and foreign-owned sector if it is to drive Viet Nam’s economic progress.

However, he said, small and very small enterprises are also undermining themselves by not taking the initiative to follow relevant regulations even as they demanded preferential treatment.

Anh noted that policy makers cannot give further priority to these firms in terms of rentals and loan rates.

He said the current interest rates for small and very small businesses of 7 to 9 per cent per annum were already normal, and the only help the Government can provide is to make loans more accessible.

Regardless, the current set of Vietnamese business regulations sometimes prevent small enterprises from growing, said Dau Anh Tuan, director general of the Legal Department of the Viet Nam Chamber of Commerce and Industry (VCCI).

He also said that he’d observed a trend in which the larger a business is, the more likely it is subjected to several inspections by different agencies.

Such approaches do not provide businesses incentives to grow, he said, adding a study found 14 per cent of businesses reporting “duplicated” inspections in 2016, while 65 per cent said they’d had trouble dealing with administrative procedures.

Hung from the MPI recommended that the Government lifts the burden on the private sector by helping reduce production costs in terms of logistics, insurance and transportation, and by simplifying administrative procedures.

The forum was jointly organised by the MPI and the Economy and Forecast Review Journal.

More than 300 representatives of various ministries and economic sectors attended the forum. 

Fivimart hosts "In-store Promotion for Thai Products 2017"     

Ten branches of the Fivimart supermarket chain have displayed Thai commodities as part of the “In-store Promotion for Thai Products 2017 in Ha Noi” programme lasting from June 22 to 25.

The event has been co-organised by the Department of International Trade Promotion under the Ministry of Commerce of Thailand and the Thai Embassy at Ha Noi’s Office of Commercial Affairs in cooperation with Viet Nam National Trade Fair and Advertising Company VINEXAD and Fivi Mart, owned by Nhat Nam JSC.

Along with exhibiting and trading activities through a series of fairs, exhibitions and B2B events, which have been organised to promote Thai products in the Viet Nam market for years, this event, held for the third time in Ha Noi, aims to enhance trade relations between Viet Nam and Thailand, Thai Ambassador to Viet Nam Manopchai Vongphakdi said during the opening ceremony of the event held on June 22.

“Besides promoting Thai products, we also have a Thai dancing show, Thai cooking and fruit carving demonstration to promote Thailand’s traditional culture to Vietnamese customers,” Vongphakdi said.

According to Vu Thi Hau, deputy general director of the Nhat Nam JSC, Thai commodities, comprising of food products, household appliances and fruit, have been showcased at the Fivimart supermarket chain’s 10 branches -- Fivimart Chuong Duong Do, Fivimart Dai La, Fivimart Hoang Quec Viet and Fivimart Truong Dinh, as well as Fivimart My Dinh, Fivimart Nhat Tan, Fivimart Ly Thai To and Fivimart Vo Thi Sau, along with Fivimart Truc Khe and Fivimart Xuan Dieu.

“It is expected that in the next four days, Fivimart will attract more than 10,000 visitors, and sales of Thai products at these 10 Fivimart supermarkets during these days are estimated to increase 300 per cent over 2016,” Hau said.

Doosan and partners agree on Vietnamese market accessing     

South Korea’s Doosan Heavy Industries & Construction Company signed a Memorandum of Understanding (MoU) with five partners at its Vietnamese operation Doosan Heavy Industries Viet Nam Company (Doosan Vina) to help them enter the Vietnamese market, the company said.

As per the June 18 agreement, Doosan will provide consulting on administration, financial management and business management to support the partners to establish their subsidiaries or manufacturing facilities at the site of Doosan Vina plant.

It will also enter into negotiations with local authorities to help the partners receive benefits like tax cuts.

The power generation market in the Southeast Asian country has a strong growth potential, as the country is expected to add new facilities generating 100 gigawatts of energy by 2030.

Doosan Vina, situated in the Dung Quat Economic Zone in Binh Son District of the central province, is a high-tech industrial complex with nearly 2,500 employees, supplying mega infrastructure products for thermal power plants, desalination plants, cranes and chemical processing equipment for export.

The company exported $300 million worth of goods in 2015. 

Quang Ninh’s GRDP growth sets five-year record     

Quang Ninh Province’s gross regional domestic product (GRDP) expanded by 9.6 per cent in the first half of this year against 9.2 per cent in the same period last year.

In the first quarter, the province’s GRDP grew 8.3 per cent while the figure recorded in the second quarter was 10.7 per cent, the fastest pace since 2012.

With this performance, Quang Ninh has been listed among the leading cities and provinces in the northern key economic region and nationwide.

Sectors posting the highest growth rate include services at11.5 per cent, industry and construction at10 per cent, and agriculture-forestry-fishery at 2.2 per cent.

To reach the target of 10 per cent growth rate, the province will focus on drastically instructing the implementation of socio-economic development tasks and solutions set for 2017.

The locality will remove difficulties facing businesses, support startups, facilitate production and business, and spur growth. At the same time, it will accelerate administrative reform and intensify investment, tourism and trade promotion to attract more resources for local socio-economic development.

Located on the northern coast with advantages in location and natural resources, Quang Ninh is striving to tap its full potential in maritime economic development.

As part of efforts to implement Resolution 09-NQ/TW on Viet Nam’s Sea and Island Strategy until 2020, Quang Ninh has applied measures to boost its sea-based economy in line with ensuring national security and defence.

In recent years, the province has focused on building infrastructure to boost maritime economic development, especially tourism and aquaculture.

Currently, all seaports in Quang Ninh have been upgraded to strengthen their capacity in providing services and connecting the mainland and islands in the region.

Some seaports in the locality are being expanded to national and regional scales, including Hai Ha, Cai Lan and Cua Ong.

Quang Ninh has also mobilised resources for the comprehensive development of infrastructure in coastal economic zones and industrial parks (IPs), including the Van Don EZ and Hai Ha, Dam Nha Mac, Viet Hung and Hai Yen IPs, attracting more investment.

Investment promotion activities have been used to call for investment in major projects, including Van Don airport, Van Tien bridge, major seaports and roads, as well as other projects in entertainment, resorts, aquaculture and fishing.

In 2016, Quang Ninh welcomed 8.3 million tourists, a year-on-year increase of 7 per cent, earning over VND13 trillion (US$571 million) in revenue, up 23 per cent, according to the provincial Department of Tourism.

By 2020, the province aims to serve 15-16 million tourists, including seven million foreigners, and rake in VND30-40 trillion ($1.3-1.7 billion) in revenue. The tourism sector is expected to contribute 14-15 per cent to the GRDP.      

New department launched to accelerate agricultural export     

The Ministry of Agriculture and Rural Development (MARD) on Wednesday launched Agro Processing and Market Development Authority (AgroTrade).

The new department will advise the minister on the implementation of laws on developing markets of agro-forestry and seafood products and salt; it will coordinate activities to expand markets; and organise the management, processing and preservation of agro-forestry and seafood products and salt, as per the minister’s instructions.

Speaking at the launch ceremony in Ha Noi on Wednesday, Minister Nguyen Xuan Cuong said agriculture played an important role in the country’s economy and the society’s sustainability. After 30 years of doi moi (renewal) period, Viet Nam had evolved from being a rice deficit nation to one that meets local demand as well as has enough for export.

In 2016, the country earned US$32 billion from export. Of this, 10 types of goods crossed more than $1 billion in value each.

Cuong said the country now faced three challenges. Firstly, with 10 million farmer households, agricultural production is less, as is the labour, which is lower than that in the region and the world.

Secondly, Viet Nam is among the top five countries in the world most affected by climate change, especially in agriculture. And finally, integration is weak.

The minister said the sector needed to be restructured and efforts must be focused on concentration and sustainability using technology and a deep value chain that is adaptable to climate change. “At the present, processing and marketing are weak, and the processing value chain is not closed because production is still separate from the market. This leads to having to take measures to rescue agricultural products from plummeting prices,” Cuong said.

The world market is fluctuating unpredictably, especially when it comes to agricultural products, the minister said. At such a time, the AgroTrade would play a critical role by closely co-ordinating with ministries, sectors, localities, associations and businesses to better organise production and market in order to optimally exploit the global market, which has a population of seven billions, and the domestic market, which has around 92 million people.      

Maritime Bank provides auto cashback for Clingme users     

Maritime Bank on Thursday signed an agreement with Gingatum Viet Nam to provide auto cachback services for users of the startup’s shopping app Clingme.

Accordingly, Clingme users with accounts at Maritime Bank will receive money immediately in their bank accounts when they want to withdraw money from Clingme accounts.

Normally, it takes five days to withdraw cash from Clingme accounts.

Clingme is an app via which users will get cashback of up to 40 per cent on their shopping bills from the company’s partner stores. At present, Clingme has partnered with 2,700 stores in Ha Noi and HCM City.

Founded in 2013, Gigatum has raised funding of US$3 million. The company plans to have one million users at Clingme and 10,000 partner stores by the end of this year.      

Isuzu launches SPV models     

Isuzu Vietnam on June 23 launched its Special Purpose Vehicle (SPV) line-up, marking an important step for the brand in Viet Nam’s market.

With the basic structure of an Isuzu truck, special rear bodies can be installed on the SPV, depending on customer demand.

At the launch, typical SPV models were showcased, including a refrigerated truck, fork-lift truck, garbage truck, dumper truck, breakdown truck, 10-door van truck, full-wing van truck and crane truck.

“We studied and collaborated with our inbound and outbound partners who specialise in van manufacturing to create the high-end SPV under the brand of Isuzu,” said Hidekazu Noto, general director of Isuzu Vietnam. “We continue to improve both after-sale services and accessories.”

Isuzu Vietnam will focus on developing a short chassis line-up to serve the diverse demands of the SPV segment.

In Viet Nam, Isuzu has focused on developing and diversifying its products, including light-duty, medium-duty and heavy-duty trucks and durable and fuel-efficient tractor heads, as well as pick-up trucks and seven-seater SUVs.

EVN exports 0.7 billion kWh of electricity in H1

The Electricity of Vietnam (EVN) exported about 0.7 billion kWh of electricity in the first half of 2017.

In January-June, the company generated and purchased 95.7 billion kWh of electricity, a yearly increase of 7.9 percent, ensuring supply for domestic needs.

Commercial electricity reached 84.1 billion kWh, a year-on-year rise of 10.05 percent.

The EVN accounts for 61.5 percent of the total national power generation capacity of 43,010 MW.

In 2017, the company aims to generate and purchase 196.8 billion kWh of electricity, up 11.1 percent year-on-year, and sold 177.8 billion kWh of power, up 11.3 percent against the previous year.

To realise this goal, the group will make full use of electricity plants, especially the Vinh Tan 2 and Duyen Hai 1, 3 thermal power plants, as well as gas and coal-fired plants to provide sufficient electricity for the dry season of 2018.

It plans to reduce the import of electricity from China while increasing the power-generating capacity at domestic plants.

The EVN will consider increasing the sale of electricity to Cambodia and ensure safe operation of power transmission grid, particularly the 500kV North-South system.

It strives to reduce electricity losses by 7.47 percent in 2017, and take saving measures so that the total production cost will be slashed by over 2.9 trillion VND (127 million USD) against the yearly target.

VNA/VNS/VOV/SGT/SGGP/TT/TN/Dantri/VNEVET