Mytel reaches five million subscribers in Myanmar

Viettel signed up five million subscribers in Myanmar after only eight months in the country.

 Mytel – Viettel’s brand in Myanmar – reached five million subscribers on Thursday just eight months after its launch. Mytel targeted to reach the milestone of 10 million subscribers this year.

Viettel officially inaugurated Mytel in Myanmar on June 9, 2018 – its 10th international mobile phone network. Mytel is the fourth largest network provider in Myanmar and aims to become the biggest in terms of both infrastructure and business results.

Prior to launching Mytel, Viettel Global, an arm of Viettel Group set an ambitious target of reaching 2-3 million customers in 2018. Just one month after launch, however, this target has been changed to four million customers in 2018 and Mytel is expected to be profitable by the end of 2019. Among Mytel’s more than four million active customers, more than 70 per cent are using 4G services. This is also a record for Viettel’s global markets.

A survey on mobile phone use in Myanmar showed that more than 90 per cent of surveyed people were impressed with Mytel. In addition, 94 per cent of respondents knew that Mytel is the fourth operator in Myanmar and was from Viet Nam.

In Myanmar, Mytel is the only telecommunications company that can provide a complete package of mobile, fixed line, transmission line and IT services nationwide.

The high number of business customers was due to careful preparation of infrastructure, mechanisms and services. In addition, Mytel has advantages of co-operating with big distributors, especially Skynet – the biggest TV provider in Myanmar. With more than 400 agents, 130,000 sales locations and over one million customers nationwide, Skynet presented a big opportunity for Mytel in 2018 and following years.

Among Viettel’s 10 international markets, Myanmar is the largest and has the highest potential in terms of growth, although at the beginning of operations, planned losses would be substantial due to high costs and depreciation.

Mytel’s growth rate is rare, especially in the context of slowing development in the international telecommunications market.

Mytel was expected to soon record profit and would contribute significantly to Viettel Global’s profit in the future.

In an interview with Reuters, Le Dang Dung, Chairman of Viettel, said that growth in Myanmar was rare in the telecommunications market and they still have growth potential. He rated Myanmar as one of the most promising markets for Viettel. Viettel wants to double the number of subscribers in Myanmar by the end of 2019 to about 10 million subscribers.

Viettel and its local partners including Myanmar National Holding Public and Star High Public deployed a 4G network worth US$1.5 billion in June 2018.

Dung also revealed that Viettel is negotiating to buy shares in Malaysian and Indonesian telecom firms but refuses to provide more information. 

Masan’s core profit jumps by 57 per cent

Masan Group Corporation’s core profit in 2018 surged by 57.1 per cent to VND3.478 trillion (US$151.2 million). — Photo courtesy of Masan

 The Masan Group Corporation (Masan), which saw an increase of more than 57 per cent in profit last year, has set a target of double-digit growth for 2019.

Its profits totalled VND3.478 trillion (US$151.2 million) last year.

Masan launched its branded fresh meat platform “MEATDeli” in 2018, and shifted Masan Nutri-Science to a fast-moving consumer-goods (FMCG) business, driving long-term revenue and profitability growth across pig price cycles.

Masan expects net revenue growth of 18-30 per cent in the 2019 financial year.

“With the launch of MEATDeli, Masan Nutri-Science will become a branded FMCG business by converting the $10.2 billion pork meat market through setting the new standard for safe fresh and processed meat products,” said chairman and CEO Nguyen Dang Quang.

Masan Consumer, Masan’s key subsidiary, has achieved a new record for the business. Premium product sales in seasonings delivered growth of 40 per cent for the 2018 financial year and accounted for 10 per cent of the portfolio.

The seasonings portfolio’s net revenue grew by 34.9 per cent for the financial year and 25.5 per cent for the fourth quarter of 2018 against the same period in 2017, while convenience foods premium portfolio delivered 50 per cent growth for the financial year and represented 40 per cent of the group’s portfolio, up 29.3 per cent for the year, and 17.4 per cent for the fourth quarter of 2018 against the same period the previous year.

In the beverage segment, net revenue increased by 55.8 per cent in the fourth quarter of 2018 and 36.4 per cent for the 2018 financial year, led by energy drinks.

The energy drink segment grew by 60 per cent year-on-year due to the drink Wakeup 247, improved brand power, and more points of sales, from 75,000 last year to 160,000, as of the fourth quarter of 2018.

Instant coffee achieved VND643 billion ($28 million) in net revenue during the fourth quarter of 2018, up 3.8 per cent compared to the fourth quarter of 2017. For the full year, this segment achieved 11.5 per cent growth in net revenue.

In addition, beer underperformed against management expectations, net revenue in fourth quarter of 2018 dropped by 33.2 per cent year-on-year, and full year net revenue delivered 23.3 per cent growth.

In the fourth quarter of 2018, Masan Consumer built a dedicated sales force, key to scaling up the business this year.

Processed meat delivered 24.5 per cent growth in net revenue for the fourth quarter of 2018, but declined by 4.8 per cent for the 2018 financial year.

The first co-product launched with Jin-Ju in the fourth quarter of 2018, the “Ponnie”, a premium sausage brand, drove fourth quarter sales growth in 2018.

The innovation pipeline to cater to Vietnamese tastes and preferences for 2019 will be key to driving business growth for Masan.

Masan Resource, another subsidiary of Masan, maintained a high growth momentum with net revenue growth of 47.4 per cent in the fourth quarter of 2018 and 27 per cent in the 2018 financial year.

Masan Resource recently acquired 49 per cent of HC Starck, and renamed it Masan Tungsten Limited Liability Company, contributing to the outstanding performance.

Masan Resource plans to increase capacity to 12,000 mtu, making it one of the world’s largest mid-stream tungsten producer.

In the new financial year, Masan expects to achieve net revenue of VND45.2-50 trillion ($1.26-2.18 billion), a growth of 18-31 per cent.

Masan Resource’s net revenue is expected to grow by 20-30 per cent. The feed business is expected to grow by 10-15 per cent.

Net revenue from fresh meat is expected to contribute 10 per cent of Masan Resource’ consolidated net revenue.

A key potential risk would be a pig disease outbreak, which would impact feed sales growth. 

Vinamilk Q4 post-tax profit grows

Vinamilk’s Lam Son Dairy Factory in Thanh Hoa Province. On Thursday, the dairy producer announced that its post-tax profit for the fourth quarter of 2018 jumped 32 per cent to VND2.3 trillion (US$98.9 million). 

 Vietnam Dairy Products Joint Stock Company (Vinamilk) has reported a year-on-year post-tax profit jump of 32 per cent to VND2.3 trillion (US$98.92 million) for the fourth quarter of 2018.

The company recorded 5.3 per cent annual growth in net revenue, which reached VND13 trillion for the quarter.

The company’s selling cost was 52.6 per cent of net revenue, down by two percentage points from a year earlier. It posted VND6.16 trillion in combined profit, up 10 per cent from the same period the prior year, and a two percentage point rise in profit margin to 47.4 per cent.

According to the company’s financial statement, released on Thursday, revenue fell by nearly VND20 billion to VND179 billion in the fourth quarter while costs doubled to VND25.2 billion.

According to Vinamilk, the strong gains in post-tax profit were due to the firm’s continued efforts to shake up its business activities and focus on selling products with high added value.

Operation costs, including sale and management costs, were cut. In addition, subsidiary companies and associate businesses performed well and brought higher profits.

General director Mai Kieu Lien said in at a recent meeting with shareholders and investors that the dairy sector had overcome its toughest period and recorded strong growth in the fourth quarter.

Vinamilk recorded a total of VND52.56 trillion in net revenue in 2018, up 3 per cent year on year. However, its post-tax profit slid to VND10.2 trillion from VND10.3 trillion in 2017.

Vinamilk failed to meet its full-year earning targets by 5.3 per cent in revenue and 4.9 per cent in post-tax profit.

As of December 31, 2018, total equity capital and total assets were VND26.3 trillion and VND37.3 trillion, respectively. The company’s total cash was VND1.52 trillion and total savings were VND8.7 trillion.

Vinamilk is the third largest listed company by market capitalisation with more than 1.74 billion shares on the Ho Chi Minh Stock Exchange.

The company’s shares edged down 0.4 per cent to end Thursday at VND135,000 ($5.8) per share, valuing the company at VND235.13 trillion. 

Vietnam-Czech Republic trade ties improving

Coffee is among the Vietnamese agricultural products most exported to the Czech Republic. — Photo 24h.com.vn

 Investment and trade ties between Viet Nam and the Czech Republic have shown encouraging signs as political and diplomatic relations continue to thrive.

According to Vietnamese Ambassador to the Czech Republic Ho Minh Tuan, two-way trade increased at a rate of about 15 per cent in recent years. Import-export turnover between the two nations was reported at US$1.2 billion in 2018, doubling the amount recorded in the previous year.

As a member of the European Union with a traditional friendship with Viet Nam, the Czech Republic stands ready to co-operate with the Southeast Asian country in its fields of strength like manufacturing, mining, food processing technology, agriculture and beer production.

The Vietnamese diplomat said that the Czech Republic sees Viet Nam as a potential trade partner and a bridge to bolster exports to the Association of Southeast Asian Nations (ASEAN). The country hopes to receive support from competent authorities in Viet Nam in finding partners.

Once the EU- Viet Nam Free Trade Agreement (EVFTA) takes effect, Czech enterprises will have more opportunities to land long-term investments in Viet Nam and boost exports of machines, equipment, pharmaceuticals, chemicals and means of transportation.

The deal will also facilitate conditions for Viet Nam’s shipments of footwear, garments and textiles, tropical agricultural products, seafood, wood products and industrial products.

Czech Deputy Minister of Industry and Trade Vladimir Bartl said Vietnamese coffee, pepper, fruits, tea, seafood, fine art, footwear and clothes have been exported to the Czech Republic while the European country has shipped electronic products, milk and chemicals to Viet Nam.

Viet Nam currently enjoys a trade surplus of $800 million with the Czech Republic, he added.

Czech enterprises have been present in many Vietnamese localities, especially in the city of Da Nang, where they are expanding investment in engineering, manufacturing and bio-technology. 

More than 37.6 million shares on sale in HNX in Feb

More than 37.6 million shares will be up for sale in the Hanoi Stock Exchange (HNX) in February, according to the HNX.

The shares are in the water supply companies of Thai Hoa, Dien Chau, Cua Lo, Quynh Luu and Ninh Binh, Ha Tinh urban environment company, Lilama 69-3 JSC and Lilama 10 JSC.

The HNX reported that in January, the floor auctioned the People’s Committee of Hai Duong province’s shares in Hai Duong Cable Television Joint Stock Company.

During the auction, the committee sold 575 million shares, 83 percent of the total for sale, earning more than 7.1 billion VND.

In 2018, the HNX held 40 auctions, including 10 initial public offerings (IPO). Some 2.01 billion shares were listed for sale, of which 1.09 billion shares were sold, three times more than in 2017. 

Total revenue from the auctions was 21.07 trillion VND, four times higher than in 2017.

At the IPO auctions, 573.4 million shares were sold for 8.47 trillion VND.

Retail sales up 12.2 percent in January

Shoppers at Vinmart in Times City, Hanoi. 

Total revenue from retail trade and services in Vietnam reached an estimated 402.2 trillion VND (17.26 billion USD) in January, up 4.4 percent month-on-month and 12.2 percent year-on-year, the latest report from the General Statistics Office (GSO) showed.

GSO statisticians attributed the first month’s positive increase to the rising purchasing demand of local people for the upcoming Tet holiday and efforts of enterprises in stockpiling goods to better serve the peak demand.

The retail value of goods totaled 305.4 trillion VND, surging 5.2 percent over last December and 13.1 percent over the same month last year with significant sale increases seen in food and foodstuffs (13.1 percent), and textile and garments (13.4 percent), according to the report.

Among localities nationwide, the capital city of Hanoi posted the highest growth in retail sales of goods at 15.1 percent. It was followed by the northern port city of Hai Phong at 14.5 percent; northern Bac Ninh province at 14 percent; the central city of Da Nang at 13.1 percent and HCM City at 13 percent.

As per the data, retail sales of services topped 43 trillion VND, representing a monthly rise of 1.8 percent and a yearly increase of 7.4 percent.  

Meanwhile, revenue from restaurants, accommodation and catering services was also up 1.4 percent month-on-month and 7.7 percent year-on-year to 49.5 trillion VND and that from tourism hit 4.3 trillion VND, a hike of 8 percent over last year’s corresponding month.  

According to the Vietnam Institute for Trade Research, the goods retail market is seeing a blooming trend of minimarts and convenience stores.

The institute forecast that convenience stores would see double-digit growth in the next three years and reach 37.4 percent growth in 2021.

Under the domestic trade development strategy, total sales of goods and services would grow by 13 percent each year through 2020 and by 14 percent per year in the 2021-2025 period.

The Ministry of Planning and Investment’s statistics showed the wholesale and retail sector ranked third in attracting foreign direct investment in 2018 with total registered capital of 3.37 billion USD, accounting for 10.3 percent of the country’s FDI.

Last year, total retail sales of goods and services in Vietnam reached nearly 4.4 quadrillion VND, representing a rise of 11.7 percent against the previous year. That reflected strong purchasing power in the domestic market, the GSO said.

HNX raises over 36 trillion VND from G-bonds in January

More than 36.3 trillion VND (over 1.55 billion USD) was mobilised for the State Treasury of Vietnam from the auction of Government bonds (G-bonds) at the Hanoi Stock Exchange (HNX) in January, a month-on-month fall of 19.2 percent. 

According to the HNX, it held 18 auction sessions in the month. The rate of successful bids was at 87.5 percent in January.

The bonds were offered for six tenures: five years, seven years, 10 years, 15 years, 20 years and 30 years. 

In particular, the interest rates of five-year bonds were between 3.8 - 3.82 percent per annum while those for seven-year bonds fetched 4.17 - 4.35 percent per annum.

Ten-year bonds fetched annual interest rates of 4.8 - 5.1 percent; and 15-year bonds fetched 5.12 - 5.3 percent per annum. 

The annual interest rates for 20-year bonds ranged from 5.59 - 5.6 percent; while the that for 30-year bonds was 5.8 percent.

On the secondary G-bond market, the total volume of G-bonds sold by the outright method reached over 694 million, worth 75.6 trillion VND, down 2 percent in value compared to that of December 2018. 

Meanwhile, the trading volume through repurchase agreements (repos) reached over 814 million bonds valuing at over 81.8 trillion VND, down 2 percent in value month-on-month.  

Foreign investors made outright purchases of more than 5.1 trillion VND and outright sales of over 3 trillion VND.

State budget revenue rises 7.5 percent in January

The headquarters of the Hanoi Taxation Department. The state budget revenue increased 7.5 percent year on year in January

The state budget revenue is estimated at 144.6 trillion VND (over 6.2 billion USD) in January, up 7.5 percent from a year earlier, the Ministry of Finance said on February 1.

The figure includes 120.5 trillion VND in domestic revenue and 4.5 trillion VND in crude oil revenue, up 5.3 percent and 5.7 percent, respectively. The revenue from import-export is about 19.5 trillion VND.

Meanwhile, the state budget’s spending was some 92.9 trillion VND in January, meeting the demand of regular expenditure on socio-economic development, defence, security, state management, social welfare and debt repayment.

The ministry noted that under the direction of Prime Minister Nguyen Xuan Phuc, it has delivered nearly 44,000 tonnes of rice sourced from the national rice reserve for underprivileged people in the between-crop period and students in disadvantaged areas ahead of the Lunar New Year festival.

In the coming months, the Finance Ministry will continue working to ensure sufficient funding for the approved activities and necessary circumstances. It will also step up tax inspections and post-customs clearance examinations so as to ensure budget collection.

Thua Thien-Hue licenses more investment projects in January

In Phu Bai industrial zone, Thua Thien-Hue 

The central province of Thua Thien-Hue announced it has licensed eight investment projects, including four foreign ones worth over 60 million USD and four domestic ones valued at over 5.7 trillion VND (247.8 million USD), in January. 

Notably, the Kim Long Motors Hue manufacturing and assembly complex in Chan May – Lang Co economic zone registered to increase its capital from 21 million EUR (24 million USD) to 30 million EUR. 

In 2019, the province will continue attracting investment to key projects such as the second stage of Laguna Lang Co resort, Minh Vien - Lang Co international tourist area, wharves No.2 and No.3 of Chan May port, and Saigon – Chan May industrial infrastructure and non-tariff area. 

The Chan May – Lang Co economic zone has so far lured over 76 trillion VND in about 50 projects. 

The Minh Vien – Lang Co international tourist area invested by Minh Vien International Joint Stock Company will cover a site of 102ha, including a world-class hotel, a resort, a convention centre and facilities. It is expected to be put into operation in the first quarter of 2024. Its first stage will be completed in the late 2019 with a total investment of over 1 trillion VND. 

The Chan May – Lang Co economic zone handles over 2 million tonnes of cargo and welcomes 60 cruise liners with nearly 200,000 tourists aboard each year, including luxury vessel Queen Elizabeth of the UK carrying 2,000 tourists. 

Together with Chu Lai, Dung Quat and Nhon Hoi economic zones, the Chan May – Lang Co is expected to become a growth nucleus of the region, becoming a bridge linking with the northeast of Thailand, the south-central of Laos and northeast of Cambodia. 

Le Van Tue, deputy head of the provincial economic and industrial zone management board, said in the first quarter of this year, the board will grant licenses to Lang Co – Lap An Lagoon project worth 8 trillion VND, Bai Ca tourist area with 2.5 trillion VND, and Lang Co market with 85 billion VND.

Ministry to step up SOEs restructuring, equitisation in 2019

The Ministry of Industry and Trade has announced that its Department of Finance and Enterprise Innovation will step up the restructuring and equitisation of State-owned enterprises (SOEs), together with listing them on the stock market. 

The ministry will also publicise equitised SOEs which are eligible and yet to register for listing and consider the responsibility of their leaders. 

Deputy Minister of Industry and Trade Hoang Quoc Vuong said the ministry restructured the Electricity of Vietnam (EVN), the Vietnam National Coal – Mineral Industries Holding Corporation (Vinacomin) and the Vietnam National Chemical Group in 2018, and approved a list of businesses under the Vietnam National Oil and Gas Group (PetroVietnam) subject to equitisation and divestment for the 2017-2020 period. 

The ministry also directed the EVN and PetroVietnam to successfully conduct their equitisation and switch Binh Son Refining and Petrochemical (BSR), the PetroVietnam Power Corporation (PVPOWER), the PetroVietnam Oil Corporation (PVOIL), the Power Generation Joint Stock Corporation 3 (EVENGENCO 3) into joint stock companies. 

It is also hastening divestment from the Vietnam Engine and Agricultural Machinery Corporation (VEAM), the Machines and Industrial Equipment Corporation (MIE), the Vietnam National Petroleum Group (Petrolimex) and the Hanoi Alcohol Beer and Beverage Company (Habeco) as directed by the Prime Minister. 

Procedures are being processed to transfer six businesses to the Commission for the Management of State Capital at Enterprises

Vietjet Air starts sale of tickets for Phu Quoc – Hong Kong route

Vietjet Air has started selling tickets for the Phu Quoc – Hong Kong (China) route. (Photo: Vietjet Air)

Vietjet Air has started selling tickets for the Phu Quoc – Hong Kong (China) route in anticipation of the coming traditional lunar New Year, according to the budget carrier.

Four return flights will be conducted every week, starting from April 14, it said, adding each leg will take two hours and 45 minutes. Flights will start from Phu Quoc at 10:50 and from Hong Kong, at 15:40.

The flights are expected to offer more choices for travellers and help boost exchanges as well as accelerate investment to the locality.

Customers can book their tickets online and pay with various kinds of credit cards.

Vietjet Air is currently operating 40 domestic routes and 66 international ones, with highest safety ratings in Asia-Pacific and the world over.

Forestry product exports rise 11 percent in January

Forestry product exports in January is estimated at 903 million USD, a rise of 11 percent over the same period in 2018.

The Ministry of Agriculture and Rural Development said export revenue of wood and wooden products reaches over 850 million USD, a rise of 10 percent year on year, while that of non-wood products is 51 million USD, up 20 percent over the same time of 2018.

The major markets of the sector are the US, Japan, the EU, China and the Republic of Korea, which consume about 87 percent of the total forestry products of Vietnam.

The Vietnam Administration of Forestry targets over 10.5 billion USD in wood and forestry products this year.

VietGAP certificates given to 81,500 hectares of crops

Farmers in Ba Don town in the central province of Quang Binh grow safe vegetables under VietGap standards 

To date, Vietnam has nearly 1,900 establishments getting Vietnamese Good Agricultural Practices (VietGAP) certificates with a total area of 81,500 hectares.

The figures represent respective rises of 297 and 60,373 from 2017, according to the Department of Crop Production under the Ministry of Agriculture and Rural Development.

Specifically, coffee area has reached 200 hectares (up 100 hectares); tea nearly 4,000 hectares (up 2,231 hectares); rice 3,760 hectares (up 2,100 hectares); fruit 68,250 hectares (up 54,200 hectares); and vegetables 5,300 hectares (up 700 hectares).

Businesses applying VietGAP production models have reduced expenses on pesticides, fertiliser and varieties by an average 30 million VND (1,290 USD) per hectare per year.

The expansion of crop areas meeting VietGAP standards not only helps protect public health but also contributes to meeting the goals of restructuring the agricultural sector towards sustainable development and increased export value.-

Thai Nguyen moves to preserve Tan Cuong tea

The northern province of Thai Nguyen is now home to 22,000 ha of tea plantations, with Tan Cuong tea accounting for around 30 percent. The province is now working hard to preserve and improve this kind of tea plant, which have been grown for 70 years, towards producing high quality tea leaves.

While most tea bush varieties that have been around for 50-70 years have been replaced by hybrid species in many other households, the Tan Cuong midlands tea cooperative insists on preserving and even expanding the growing area of the ancient tea.

Nguyen Thanh Duong, Director of the Tan Cuong tea cooperative said he has a passion for tea farming and wants to preserve the original aromatic flavour of Tan Cuong tea.

Tan Cuong commune is known as a tea cradle in Thai Nguyen province with biggest area of tea plantations in the province. After 20-70 years of growing the crop, a large proportion of tea bushes have deteriorated with low yield. Since 2015, several projects have been implemented to preserve and improve the yield of Tan Cuong tea.

Pham Tien Sy, Chairman of the Tan Cuong commune People’s Committee in Thai Nguyen city said “the projects’ purpose is to maintain the trademark of local tea bushes. On the other hand, they also aim to combine them with other kinds of tea plants to diversify tea products”.

Midland tea now accounts for around one third in the total area of tea plantations in Thai Nguyen province. The preservation of midland tea is necessary to conserve the traditional tea flavour, which has been loved by generations of hot beverage consumers.

Binh Duong eyes GRDP growth of 8.4 – 8.6 percent

The southern province of Binh Duong has targeted a GRDP (Gross Regional Domestic Product) growth of 8.4 – 8.6 percent and per capita income of 140 million VND (more than 6,030 USD) this year.

To reach the targets for economic growth for the 2016 – 20 period, Binh Duong will focus on eight major works this year to encourage new investment.

Provincial authorities will urge site clearance and facilitate construction work to improve the investment climate and help the private sector to develop.

The province will open industrial parks and zones to welcome new investment trends, said Mai Hung Dung, Deputy Chairman of the Binh Duong People’s Committee.  

In addition to efforts to improve the quality of urban management, Binh Duong will conduct research and invest in multi-mode transportation, and move polluting facilities in residential areas to industrial zones and parks.

Dung said the province will also improve the province’s public investment and accelerate construction of major work, and focus on training of human resources for the Industry 4.0 era.

The province has set 12 targets for sustainable economic growth, with major growth focused on the service sector.

It will also continue to invest in infrastructure, with the aim of turning Binh Duong into a first-grade city, thus contributing to efforts to improve the living standards of Binh Duong residents and to build Binh Duong into a smart city.

The province’s socio-economic development attained significant growth in 2018 with 27 of 29 targets set by the provincial authority for the year fulfilled.

The provincial Department of Planning and Investment reported significant improvement in the investment environment, with total foreign investment (FDI) of more than 1.6 billion USD in the first 10 months of 2018, bringing total FDI registration in the province to 31.75 billion USD.

FPT’s pre-tax profit exceeds 2018 plan

FPT Corporation’s revenue and pre-tax profit in 2018 were 23.2 trillion VND (almost 1 billion USD) and 3.85 trillion VND, respectively.

These figures were equal to 106 percent and 111 percent of the year’s target, achieving strong growth of 17 percent and 30 percent year on year, respectively, (excluding one-off profit from divestment in FPT Retail and Synnex FPT as well as incorporating ones under the equity method).

Compared to the reported number (no adjustment) of 2017, revenue and pre-tax profit are down 47 percent and 9 percent year-on-year, respectively.

After-tax profit attributable to parent company’s shareholders was 3.23 trillion VND and 2.6 trillion VND, up 30 percent and 35 percent in like for like, down 8 percent and 11 percent compared with the report of 2017, respectively.

Earnings per share was 3,897 VND, up 35 percent in like for like and down 13 percent year-on-year.

The technology sector recorded revenue and pre-tax profit of nearly 13.4 trillion VND and 1.5 trillion VND, equal to 110 percent and 104 percent of the target, up 21 percent and 34 percent year-on-year, respectively.

In 2018, overseas markets brought FPT revenue of 9.097 trillion VND, up 26 percent year-on-year and pre-tax profit of 1.472 trillion VND, up 27 percent year-on-year.

The overseas revenue contributed 39 percent to the corporation’s total revenue, from 16 percent in 2017. 

An Giang targets organic agriculture development

An organic rice cultivation, shrimp farming model (Source: baoangiang.com.vn)

The Mekong Delta province of An Giang has targeted shifting from traditional agricultural production, which is heavily dependent on fertilisers and chemicals, to more sustainable production and organic standards, said a provincial official. 

Nguyen Si Lam, Director of the Department of Agriculture and Rural Development, said the province was focusing on environmental protection, emission reductions and climate change adaptation, and calling for more local and foreign investment in green agricultural production.

The province since 2013 has had a Jasmine rice production area under GlobalGAP standards in Chau Phu district and a bio-safe rice production area in An Phu district on 400-600 ha per year, with profits increasing for farmers, he said.

In addition, it has piloted an organic rice-shrimp model on 1ha in An Phu district, and has grown high-quality organic rice in Tan Chau town, Lam added.

All of these results have created an important foundation for the area to gradually shift from traditional production to safer and organic standards.

Despite this progress, he said the agricultural sector faced a number of challenges. 

The rice yield is very high, but farmers’ incomes are still modest, and investment in agricultural production has not been effective, with excessive use of fertilisers and chemicals. 

In addition, the quality of agricultural products has not met the expectations of consumers, who increasingly demand food safety and clean agricultural products. Imported agricultural products are also putting pressure on local products. 

The province wants, from now to 2025, to develop its strongest products, including 300ha of rice; mangoes with VietGap standards covering 500ha, of which 100ha of mango is expected to be organic; and VietGap-certified vegetables on 6,000ha, of which 1,000ha will receive organic certification.

According to Alan Broughton, Vice President of the Australian Organic Agriculture Association, Australian agriculture has much to share with An Giang province through research and training to ensure safety and efficiency in the supply chain.

The core of organic agriculture is to improve the health of farmers and consumers of agricultural products, restore organic soil, and reduce production costs.

The most important step is to change farming practices through practical experiences and short-term training courses with “hands-on experience” for farmers. This will help farmers see the benefits of organic agriculture.

The Australian Association will continue to support An Giang province to develop organic agriculture through technology transfer to bring practical benefits to farmers, especially for ethnic women and families.

Tran Anh Thu, Vice Chairman of the An Giang People’s Committee, said he hoped that Australia would continue to support the province in organic agriculture development, through short-term training courses for agriculture officials, scientists and farmers.

The first Mekong Delta Forum on Developing Partnerships Between Australia and Vietnam for Organic Agriculture Movement is one of four components of a project to promote partnership between Australia and Vietnam.

The project has four work packages.

The first package is to build capacity for three Australian Awards Scholarship (AAS) Alumni from An Giang University (AGU) in agriculture development in Australia, provided by Organic Agriculture Association (OAA), National Association of Sustainable Agriculture Australia (NASAA), Canberra Organic Grower Society (COGS), Fenner School of Environment & Society, and the Australian National University.

In the second package, the AAS alumni team from AGU, including Dr Nguyen Van Kien, Nguyen Van Thai, and Le Ngoc Hiep, will develop an organic agriculture research centre called the “Mekong Organics Hub” to promote linkages between agriculture, nutrition and public health in the Mekong Delta Region. 

For the third package, the Hub will partner with the An Giang Department of Agriculture and Rural Development and An Giang Province People’s Committee to organise the first Mekong Delta Forum on Developing Partnerships Between Australia and Vietnam for an Organic Agriculture Movement. 

The forum aims to share the experiences of organic agriculture research and development with organic growers, organic agriculture associations, farm extension staffs, local governments, business sectors, and NGOs. It will also develop a partnership for organic industry development in the two countries. 

The fourth package is the piloting of a home-based organic vegetable farm with female Khmer farmers in An Giang province to promote nutrition and population health outcomes for the communities.

The forum in the province was co-funded by Aus4Skills Small Grants for AAV alumni and An Giang People’s Committee’s Department of Agriculture & Rural Development and An Giang University. It aimed to develop partnerships between Australia and Vietnam for Organic Agriculture Movement. 

Nearly 200 delegates, including scientists and organic agricultural experts, participated in the forum organised by An Giang province’s People’s Committee.

EVNNPT to launch 33 power transmission projects

The National Power Transmission Corporation (EVNNPT) said it plans to launch 33 power transmission projects and put into operation 47 projects, with a total capital of 19.5 trillion VND in 2019.

The 33 projects to be launched include three 500-kV power transmission project and 30 220-kV power transmission projects, while the 47 projects to be completed comprise 14 500-kV power projects, 30 220-kV power projects and three 110-kV power projects.

EVNNPT, a subsidiary of the state-owned Vietnam Electricity (EVN) group, transmitted 184.5 billion kWh of electricity in 2018, up 11.03 percent from the previous year.

It has set the target of 203.2 billion kWh of electricity transmitted in 2019, up 10.15 percent from 2018.

Da Nang to prioritise tourism industry

Da Nang in the evening. The city is focusing on attracting investments and developing its tourism and high-tech agriculture sectors. — Photo travel.com.vn

 The central city of Da Nang will prioritise the development of tourism and services associated with commercial real estate for resorts.

This was one of the five key areas given in the Politburo’s newly issued Resolution 43 on the city’s construction and development by 2030.

According to the resolution, Da Nang needs to have a policy focusing on developing five key sectors, including travel and high quality services associated with resort real estate; seaports and airports; high-tech industry associated with creative urban construction and start-ups; information technology, electronics and telecommunications associated with the digital economy; and high-tech agriculture and fisheries.

In particular, there will be policies to develop Da Nang into a marine economic centre, forming a logistics service supply chain in the central region with the city as a central hub.

Da Nang must develop its high-tech park into a competitive, scientific and technological urban area in accordance with international standards to ensure competitiveness. At the same time, it is necessary for the city to become a centre for entrepreneurship and innovation in the Central Highlands region.

The resolution also requires the city restructure the agricultural sector towards building a new countryside and developing high-tech agriculture. It must promote the development of large-scale commodity production and focus on products with competitive advantages and high economic value.

The city must also focus on deal with land management violations to protect the interests of organisations, individuals and sources of State budget revenue.

The resolution says the city must create a favourable investment and business environment, actively attract foreign-invested projects, promote socialization and build a mechanism to effectively mobilise domestic and foreign investments.

The Politburo asked the city to focus on developing modern infrastructure to connect the city traffic system with neighbouring, regional and international provinces by road, rail, sea and air.

The city should encourage enterprises from all economic sectors to develop telecommunications infrastructure, universalise services and develop modern public services, the resolution said.