The Vietnam Association of Seafood Producers and Exporters (VASEP) said it plans several measures to help its members further penetrate the global supply chain and enable the fisheries sector to reach its export target of 12 billion USD in 2025, 40 percent higher than this year.

The target was announced at VASEP’s sixth congress held in HCM City on December 22 to review its 2015-20 activities and make plans for 2020-25.

Truong Dinh Hoe, VASEP general secretary, said despite difficulties due to unfavourable weather, trade barriers such as anti-dumping taxes on shrimp and tra fish in the US and the EU’s ‘yellow card’ for illegal, unreported and unregulated fishing, and others, Vietnam’s seafood exports increased by 2.5 percent on average in the last five years and it now ranks in the top three in the world with China and Norway.

The COVID-19 pandemic reduced exports significantly in the first half of this year, but they have recovered since July. The export this year is estimated to reach 8.58 billion USD, equal the figure of last year.

Trade deals such as the EU-Vietnam FTA, CPTPP and others with major markets such as the Republic of Korea, Japan, and ASEAN have helped Vietnamese seafood products become competitive in those markets, he said.

During the last five years the association worked with the Government to advocate sound policies, created business opportunities for its members through exhibitions and trade promotions and diversified the operation of its product committees, he said.

Talking about the new term, he said, “The association will work to achieve the export target of 12 billion USD by 2025, increase to 300 members from the current 160 and increase connectivity among them.”

The shrimp committee would work to reduce production cost, improve product competitiveness, enable traceability, and enhance processing to add value to the products.

Vietnam’s shrimp exports are expected to exceed one million tonnes by 2025, helping it surpass India to become the world’s largest exporter, he said.

The association also plans to work to promote consumption of shrimp and other seafood in the domestic market, he said.

The marine product committee would seek to increase export to markets with which Vietnam has FTAs, and the association is striving to get rid of the EC’s yellow card as soon as possible and diversify raw material sources, he said.

With this five-year strategic vision, the association wants to make the seafood sector to improve profitability and value addition for the industry, and promote the Vietnamese seafood brand globally, he added.

Deputy Minister of Agriculture and Rural Development Le Quoc Doanh hailed the association’s contribution to the country’s economic development over the last year.

“The agri-forestry-fishery sector is one the country’s key economic sectors with its exports estimated to reach 41.2 billion USD this year. Of this, seafood accounted for 8.5 billion USD.

“The 14 FTAs the country has signed will open the door wide for the sector to boost exports.”

But the sector also faces shortcomings and challenges like small scale of production, erratic raw material supply and trade barriers, he warned.

He urged the sector to focus on resolving these issues, getting the EC to lift its yellow card soon and increasing the processing rate to add value to its products.

Vietnamese seafood is exported to over 160 markets around the world, with the US, Japan, the EU, China, the Republic of Korea, and ASEAN being the largest.

VASEP received the Emulation Flag from the Ministries of Agriculture and Rural Development and Industry and Trade for its achievements over past years.

The congress elected a 31-member executive board and re-elected Ngo Van Ich as the association chairman for the 2020-25 term./.

SBV says will not print small banknotes for Tet

The State Bank of Vietnam (SBV) will not be printing low-denomination banknotes for the upcoming Lunar New Year holiday, or Tet, said SBV deputy governor Dao Minh Tu.

At a press briefing on December 24 to discuss SBV’s performance in 2020 and plans for 2021, Tu said the decision to stop issuing new notes in low denominations in the past few years has helped save a cost of VND3.5 trillion, the local media reported.

As for the banking system’s performance this year, Tu informed that inflation would definitely remain below 4%. The foreign currency and gold markets as well as interest rates have been kept stable.

Moreover, the central bank has reduced the policy rates three times this year with a total reduction of 1.5%-2%, facilitating commercial banks to cut their lending rates by 1%-1.5%.

SBV will continue keeping interest rates stable, even low, if the economy is stable and Covid-19 is brought under control.

As of December 21, the credit growth stayed at 10.14% over 2019, and is expected to hit 11% for the whole year. The central bank set a credit growth rate target of 12% for next year.

Credit was mainly offered for agriculture and rural development and small and medium enterprises.

To support customers, credit institutions have extended debt payment deadlines for some 270,000 customers affected by the pandemic with a total outstanding loan of VND355 trillion, and reduced and exempted interest for nearly 590,000 customers with a combined outstanding loan of over VND1,000 trillion.

Credit institutions have offered loans worth VND2,300 trillion with interest rates that were 0.5-2.5% lower than the pre-pandemic rates for more than 390,000 customers.

Quang Ninh maintains GRDP growth of over 10 percent

The northeastern province of Quang Ninh’s gross regional domestic product (GRDP) has been estimated at 10.05 percent in 2020 despite the adverse impact of COVID-19.

The province’s State budget collection is projected at 49.3 trillion VND (2.13 billion USD), surpassing the year’s target by 9.4 percent and up nearly 7 percent compared to the same period of 2019.

Budget collection from export-import activities surged by 29 percent against the estimates, while domestic collection fulfilled the set target with 37 trillion VND, rising 7 percent.

Secretary of the provincial Party Committee and Chairman of the People’s Council Nguyen Xuan Ky said the province will spare no efforts in carrying out the dual targets of protecting people’s lives and boosting socio-economic development in the coming year, especially keeping its GRDP growth in the double digits.

The province has set a goal to have modern industry and service sectors and become one of the region’s comprehensive and dynamic development hubs by 2025./.

Thailand rice exports likely to fall 12 percent in 2020

Thailand’s rice export volume is estimated to reach 5.7 million tonnes in 2020 with revenue of about 3.8 billion USD, down 12 percent year on year, according to Thai Rice Exporters Association (TREA) Honorary President Chookiat Ophaswongse.

He explained that Thai rice export has faced many obstacles throughout the year, including higher price when compared to competitors.

The TREA held that the situation has been aggravated by the increased baht price, along with the shortage of containers for transporting rice.

Chookiat Ophaswongse said that it would be the first time that Thai exports would be lower than that of Vietnam, which is expected to export a total of 6 million tonnes.

In recent years, Thailand has lost its position of world top rice exporters to India and Vietnam. The Southeast Asian nation produces over 20 million tonnes of rice each year, a half of which is exported.

In 2019, Thailand exported 7.58 million tonnes of rice, earning 131 billion baht (4.13 billion USD), down 32 percent in volume and 25 percent in value year-on-year. Earlier this month, Chookiat Ophaswongse predicted that Thailand’s total rice export volume this year would reach 5.8 million tonnes in 2020 and 7 million tonnes in 2021./.

A challenging year ahead for fisheries sector in 2021

The fisheries sector is anticipated to face numerous challenges in 2021 due to the negative impact of the COVID-19 pandemic globally, whilst working relentlessly to combat illegal, unreported, and unregulated fishing (IUU) in line with the European Council's (EC) recommendations to boost exports, according to insiders.

Seafood exports to key Vietnamese markets such as the EU, the United States, China, the Republic of Korea, and Japan, suffered from the negative impact of the epidemic during the first and second quarters of 2020, declining 10% and 7%, respectively, compared to the same periods from last year. Only the US and Chinese markets maintained positive growth, rising 13% and 5%, respectively.

The Association of Seafood Exporters and Producers (VASEP) said seafood exports began to witness a recovery during the closing months of the year, achieving a growth rate of between 10% and 13%. Statistics show seafood exports during the past 11 months reached US$7.8 billion, and the figure for the entire year is expected to hit US$8.58 billion, matching last year’s figure.

Shrimp exports for instance saw robust growth, with 11-month exports increasing by 14% to approximately US$3.5 billion against the same period from last year. Shrimp processors expected to rake in over US$3.85 billion from exports this year, a rise of 15% compared to 2019.

However, the VASEP believes that the fisheries sector will continue to encounter an array of difficulties moving into next year due to consumption trends in COVID-19 affected markets expected to see changes. In line with this, there will be a reduction in consumption at restaurants and hotels despite an increase in consumption at supermarkets and retail outlets.

Moreover, the COVID-19 pandemic has severely disrupted global supply chains, making it difficult for the seafood sector to ship its key products such as shrimp and pangasius abroad, leading to high inventories at cold storage systems.

Despite the COVID-19 epidemic brought under control, it has adversely affected the domestic labour market as workers at seafood processing factories were laid off, coupled with rising costs in the production chain and freight costs. Additionally, a number of businesses either faced financial shortages or slipped into bank debts.

Meanwhile, technical barriers such as anti-dumping tax on shrimp and pangasius in the US market are projected to show no signs of being removed over the course of the following five years.

In line with this, import markets tend to pay close attention to food safety and hygiene requirements, origin traceability, sustainable production procedures, as well as standards of labour and social security.

Tran Dinh Luan, director general of the Directorate of Fisheries, said local authorities and Vietnamese fishermen and businesses have made great strides in combating acts of illegal, unreported, and unregulated fishing (IUU) based on the European Council's (EC) recommendations. This has served to pave the way to make the most out of opportunities brought about by the enforcement of the EU-Vietnam Free Trade Agreement (EVFTA).

Luan revealed that future moves by the Government will largely focus on restructuring the local fisheries sector, with the aim of grossing an export value of between US$18 and US$20 billion by 2030. Indeed, these efforts will generate jobs for 3.5 million workers and contribute 30% of GDP to the agriculture-forestry-fishery sector.

Sixty-one enterprises honoured with Viet Nam National Quality Awards 2020

Prime Minister Nguyen Xuan Phuc has decided to present the Viet Nam National Quality Awards 2020 to 61 enterprises, with 21 receiving the golden prize.

Among the 21 businesses honoured with the golden prize, 18 are production enterprises and three operate in services.

Meanwhile, the remaining 40 award winners include 33 production enterprises, and seven service companies.

The Viet Nam National Quality Awards are the Prime Minister’s annual recognition of organisations and enterprises with remarkable quality achievements in production, business activities and services, thus helping to promote the standing of Vietnamese products and services in domestic and foreign markets.

The awards, first presented in 1996, were initiated by the Directorate for Standards, Metrology and Quality under the Ministry of Science and Technology. 

South Korean investors fancy VN education sector

South Korea was the top investor in education in Viet Nam in the first 11 months of this year with US$8.2 million, or 57 per cent of the country’s total FDI in the sector.

A third of the 112 investors from 15 countries and territories were also from the South Korea.

Visang Education Inc invested $3.34 million in its subsidiary in Viet Nam to become the leader.

Le Khac Anh, head of its marketing department, said the demand for studying Korean is very high, giving his company plenty of scope to expand even further.

Durable Newtech JSC announced it is investing $2.59 million in the Korea Global School, a new international school in Ha Noi.

The International College of Arts invested a further $2.74 million in its Ha Noi-based centre to add to the $4.24 million it had already invested.

Poly Educational Services Co., added $950,000 to the $3.1 million it had invested in a foreign language centre in District 7, HCM City.

The fact that South Korea has remained Viet Nam’s top FDI source for many years has seen a number of Korean specialists and guest workers come to the country, triggering an increase in demand for education from the growing South Korean community in the country.

The number of South Koreans in Viet Nam has risen nearly 50-fold in the last decade to around 100,000, according to the report of Savills.

Some 80 per cent live in HCM City, and the rest in Ha Noi, Binh Duong, Dong Nai, Vung Tau, Bac Ninh, and elsewhere.

The figure is likely to increase in the years to come, opening up new business opportunities in products and services, such as education, exclusively targeted at Korean customers. 

Goods demand for Tet up due to domestic confidence on economic recovery

The purchasing power in the domestic market is expected to increase by between 15-20 per cent from now until the 2021 Tet (Lunar New Year), with food products seeing the strongest rise, said Tran Duy Dong, director of the Ministry of Industry and Trade (MoIT)’s Domestic Market Department.

The higher purchasing power is due to consumer confidence in macro-economic stability, along with increasing income of people at the end of the year, he said.

Therefore, enterprises have plans to prepare enough supply of goods and consumption stimulus programmes to meet people's needs, Dong said.

Those plans would not cause a great change in selling prices, according to the ministry.

Meanwhile, at local markets, the prices of fresh food items will regularly fluctuate in the days approaching Tet due to strong increase in food demand. However, growth rate of the prices may be curbed partly because of stable prices at supermarkets and commercial centres and points selling stabilised-priced goods in localities, Dong said.

According to Nguyen Quoc Toan, director of the Ministry of Agriculture and Rural Development (MARD)’s Department of Agricultural Product Processing and Market Development, all agricultural sectors such as cultivation, husbandry and fisheries are promoting production and processing to meet the needs of consumers at year-end and the Lunar New Year festival.

Toan said the demand for livestock products, especially meat and eggs, until Tet is expected to increase by 5-10 per cent compared to the monthly average demand at about 250,000-350,000 tonnes of meat and 1-1.7 billion eggs.

With the maintenance of stable cattle and poultry herds after re-production and disease is strictly controlled, the market will keep a balance between supply and demand for all kinds of meat to avoid a shortage of food.

Tran Thi Phuong Lan, deputy director of the Ha Noi Department of Industry and Trade, said by the end of 2020 and until the Lunar New Year in 2021, shopping demand in Ha Noi will increase by between 3-20 per cent for each commodity group.

To meet the needs of the people, the department has asked businesses in Ha Noi to prepare sufficient supply for commodities with high demand before and during Tet, such as dried agricultural products (up 25-33 per cent against normal months); gasoline (up 20 per cent); and flowers and ornamental plants (up 25-35 per cent).

The total value of goods for Tet in Ha Noi is estimated to reach about VND39.4 trillion, up about 5 per cent compared to that for Tet in 2020.

Besides diversified supply sources, Lan said, the department opened 12 local markets and 300 mobile vendors to bring products to the people in suburban districts and mountainous communes, as well as employees in industrial zones.

Retailers will also sell goods for Tet at 28 shopping malls, 142 supermarkets, 455 markets, 11,382 e-commerce websites, thousands of convenience stores and agricultural product distribution chains.

Ha Noi will open 28 sales points for producers and traders from other localities to sell their regional specialties, ensuring quality, origin and reasonable price, said Lan.

At the same time, the departments of industry and trade of localities in the Mekong Delta region have also completed preparation of goods for Tet.

According to the Department of Industry and Trade of Kien Giang, the province has a total volume of 51,500 tonnes of goods for Tet worth about VND2.3 trillion, an increase of 6.73 per cent over the same period last year.

In Tien Giang, the provincial People's Committee has plans to ensure the supply of essential goods for Tet in 2021. Under the plan, enterprises and cooperatives will store goods worth about VND443.6 billion, including VND98.4 billion in essential goods such as rice, sugar, cooking oil, meat and poultry.

A representative of the Department of Industry and Trade of An Giang Province said 22 businesses have registered to sell stabilised-price goods such as rice, canned products, fresh and processed foods, instant noodles, sugar and milk at 430 places, including seven supermarkets, 54 Bach Hoa Xanh stores and 20 Vinmart + stores and 343 petrol stations.

To Nguyen Kieu Trinh, purchasing director of Big C supermarket system, said that since October, purchasing power and consumption of goods have increased again. Purchasing power at Big C until the Tet festival is expected to increase sharply by 30-40 per cent. Therefore, the supermarket must order more goods and also look for more sources of goods from localities, especially regional specialties, reported the Cong thuong (industry and trade) newspaper.

Meanwhile, Nguyen Van Vo, director of Co.opmart Cai Lay in Tien Giang Province, said this supermarket is coordinating with suppliers to prepare goods according to the plan on stockpiling and supply of goods that are registered to the Tien Giang Department of Industry and Trade.

He said this year, prices of cattle and poultry meat are likely to increase due to shortage of supply. 

Credit still increases more than 10 per cent: SBV

Deputy Governor of the State Bank of Viet Nam (SBV) Dao Minh Tu has said despite the COVID-19 pandemic, the bank has operated local monetary policy effectively and flexibly this year.

Tu informed the press of the banking sector's tasks in 2021 in Ha Noi on Thursday saying that the central bank has coordinated with the fiscal policy and other macroeconomic policies to control inflation, stabilise the macro-economy, money market and foreign exchange as well as supporting economic recovery during the pandemic.

At the same time, he said the bank has directed credit institutions to drastically implement measures to cope with impacts, supporting businesses and people to overcome difficulties caused by COVID-19 and the serious floods that caused devastation in the country while it has also continued to drastically restructuring the industry and handling bad debt.

He said: "Despite being heavily affected by the pandemic, monetary policy management and banking operations still achieved many positive results in all aspects."

According to a representative of SBV’s Credit Department, the central bank has managed credit growth in a reasonable manner in accordance with the level of absorption of the economy with a focus on production, consumption, priority sectors.

He said such management has made an important contribution to the recovery of production and business activities, maintaining economic growth after the pandemic while still strictly controlling credit in the sectors most at risks.

Though the credit growth was slower due to the weaker credit demand from the negative impacts of the pandemic, as of December 21, 2020, credit still increased by 10.14 per cent compared to the end of 2019 and 11.6 per cent from the same term of 2019.

As of December 18, 2020, the total means of payment known as the ratio of deposits in foreign currency to the total money supply, increased by 12.83 per cent from the end of 2019 and up 14.62 per cent over the same period last year.

The bank said: “The liquidity of the credit institution system is smooth.”

Regarding interest rate management, from the beginning of 2020 up to now, the central bank has adjusted and reduced interest rates three times, with a total reduction of 1.5 to 2 per cent per year.

At the same time, it has directed credit institutions to save costs and reduce lending interest rates, especially in priority areas. As a result, as of November 2020, lending interest rates in Viet Nam decreased by an average of 1 per cent per year compared to the end of 2019 and the maximum interest rate for short-term loan in the local dong for some priority sectors and industries was at 4.5 per cent per year.

Moody's upgrades Agribank’s long-term foreign-currency deposit rating

Credit rating agency Moody's recently announced its rating upgrade for Agribank's long-term foreign-currency deposit rating from B1 to Ba3.

Agribank has been assigned Ba3 for issuer rating and ratings for long-term domestic and foreign currency deposits, equivalent to Viet Nam's national ratings. The outlook for Agribank's ratings of the issuer and long-term is negative, equivalent to a negative outlook for Viet Nam's national rating.

According to Moody’s assessments, Agribank has made remarkable progress in handling legacy problem assets in recent years, contributing to improving asset quality stability.

Its capital mobilisation and liquidity are at a good level, mainly from individual customers and less affected by market fluctuations.

Agribank has the advantage of having the largest branch network in Viet Nam and strong support from the Government due to its policy role as a provider of financial services in rural Viet Nam, with a special mission in supporting and developing the agricultural and rural sector in Viet Nam.

As of June 30, Agribank is the largest bank in Viet Nam in terms of deposits and the second largest in terms of assets, with the market share of deposits and assets in Viet Nam’s banking system of 14 per cent and 12 per cent, respectively.

Quang Binh moves to welcome back visitors after COVID-19

Still suffering from losses due to the COVID-19 pandemic, Quang Binh province was hit hard by the recent historic rains and floods in early October. However, the provincial hospitality sector has exerted every effort to overcome its difficulties, poured more investment into upgrading tourist infrastructure, and implemented tourism stimulus programmes to welcome back visitors after the pandemic.

According to the provincial People’s Committee, rains and floods caused serious damage to the tourist infrastructure system and services at Phong Nha - Ke Bang National Park.

As the site’s management board utilise natural materials such as bamboo and rattan, most of the infrastructure at the park was severely destroyed and required a lot of time to repair.

Meanwhile, at Chay River - Dark Cave tourist site, hundreds of metres of wooden stairs as well as equipment for tourist activities inside the caves were swept away by floodwaters, with total damage of nearly VND750 million.

At the same time, the Mooc stream ecotourism area temporarily closed its gate for visitors due to torrential rain and flooding. 

Thien Duong cave tourist site also faced a similar situation as the fast flowing flood waters washed away everything in their path

Statistics from the Phong Nha - Ke Bang Tourist Centre showed that floods caused more than VND3.8 billion in losses across the tourist sites in the complex.

According to experts, it is more difficult to implement tourist activities in localities which are commonly affected by floods, like Quang Binh, as investors may have to invest in these works many times. For example, soon after Thien Duong cave opened for visitors in 2010, floods swept away the wooden stair system inside the cave, requiring the Truong Thinh Group, the manager and investor of the site, to reinvest money and build new ones. This year, the stair system was destroyed again due to floods.

In mid-December, Quang Binh provincial People's Council approved a resolution on reducing entrance fees at local tourism destinations, which will take effect from January 1, 2021 to the end of December 31, 2021.

Accordingly, tourists in the province next year will enjoy a 20% discount on entrance fees to Phong Nha, Tien Son and Thien Duong caves, Mooc stream ecotourism area, and Song Chay River - Dark Cave tourist site.

Up to 50% discounts are also available on tours to En caves, Sinh Ton (Survival) valley, Va, Nuoc Nut and Tu Lan caves.

In response to the resolution, Oxalis Adventure company has launched a tourism stimulus program for their adventure tours in 2021. Accordingly, when booking a Hang Va Expedition 2 Days, visitors will receive a bonus of one night stay at Chay Lap Farmstay, prior to the departure date.

For the Tu Lan Expedition 4 Days, guests will be given 2 nights at Chay Lap Farmstay before and after the tour. In addition, they will get a free two-way transfer from Oxalis between Dong Hoi Centre and Chay Lap Farmstay when participating in the Tu Lan 4 Day Expedition.

The company has also upgraded the facilities used in its tours, such as adding Jungle Steambath to help visitors enjoy a steam bath upon arriving at the campsite in the afternoon, improving the environmentally-friendly toilet, enhancing the professional skills of tour guides, and operating training courses for chefs to increase the quality of the meals on the tours.

Other travel businesses in Quang Binh have provided discounts of 10% to 30% off on their products and services while affirming tourist’s safety in accordance with current regulations on COVID-19 prevention and control.

It is expected that the close coordination between local authorities and travel businesses will result in encouraging outcomes for the provincial hospitality sector, helping it rejuvenate after COVID-19.

Vietnam sees significant improvements to road infrastructure in past five years

Vietnam has recorded significant improvements to its road infrastructure in the past five years with many expressways now in service, according the Ministry of Transport at a conference held on December 24.

In the north, Vietnam has completed expressways connecting Hanoi with neighbouring provinces and the coastal Hai Phong-Ha Long-Van Don expressway while in the south, two expressways are now connecting Ho Chi Minh City with the Mekong Delta and south-eastern provinces.

The central region has two expressways: Da Nang-Quang Ngai and Lien Khuong-Da Lat.

During the 2011-2020 period, the Ministry of Transport completed 1,074 kilometres of expressway, raising the total length of expressway in service to 1,163 kilometres.

The national highway system covers a total length of 24,598 kilometres, with the proportion of roads covered with asphalt concrete increasing to 64%.

Despite such achievements, there remain certain drawbacks in the transport sector, notably financial resources for infrastructure development are not commensurate with the demand.

The mobilisation of non-state resources for infrastructure projects is also facing difficulties as such projects require significant funds while there is a lack of incentives to attract investors.

Furthermore, the transport system remains insufficiently interconnected, leading to higher costs and reducing logistical efficiency.

Ninh Thuan to build Ca Na LNG power center

Ninh Thuan Province has approved construction of the first phase of a liquefied natural gas (LNG) power center project, with a capacity of 1,500 MW and total investment of over VND49 trillion.

The first phase of the project, which will cover 120 hectares of water surface and land in Phuoc Diem Commune of Thuan Nam District, is set to consist of four main components such as a gas power plant, a material feeding system, a power transmission system and some facilities.

Work on the first phase of the Ca Na LNG power center project will start in the third quarter of 2021, while it will be put into service in the third quarter of 2024, Thanh Nien Online reported.

As planned, the Ca Na LNG power center will comprise a gas plant and warehouse complex located at the Ca Na Industrial Zone and Phuoc Diem Commune, with a total area of 163 hectares of land and 126 hectares of water surface and a total capacity of 6,000 MW.

The prime minister had earlier agreed to add the Ca Na LNG power center project with a capacity of some 6,000-7,500 MW to the adjusted National Power Development Plan VII.

Enterprises launch programs to boost purchasing power for Tet goods

The Economy and Budget Division of the People's Council of Ho Chi Minh City made a field trip and had a meeting with key enterprises of the city on the preparation of goods for the upcoming Lunar New Year on December 23. 

At the meeting, enterprises said that the preparation of goods was smooth and on schedule. However, enterprises are concerned that the purchasing power at the peak of Tet holidays this year will not increase as high as expected because consumers cut down on spending due to the impact of Covid-19.

Mr. Nguyen Vu Toan, Deputy General Director of Saigon Co-op, said that this year, Saigon Co.op prepared goods with a worth of more than VND4.92 trillion, up nearly 20 percent compared to the same period last year. Of which, nearly 40 percent of the capital source is for nine groups of essential goods covered by the price stabilization program, including rice, sugar, cooking oil, pork, poultry meat, poultry eggs, processed foods, vegetables, fruits, and seafood. The remaining 60 percent is for other food and non-food items. Saigon Co-op plans to increase the frequency of quality control of goods by 5 to 10 times higher than ordinary months, especially the group of food products for the Lunar New Year.

At this time, Saigon Co-op simultaneously reduces its prices early to help consumers to shop thriftily and prevent the situation that shopping demand cumulates at the year’s end. During the days near the Lunar New Year, consumers only need to buy fresh foods or order processed dishes from supermarkets, convenient and time-saving. The distributor will also carry out a series of direct discount programs of up to 50 percent for thousands of products for the Tet holidays. And during ten days before the Lunar New Year, it will continue to lower prices further to stimulate consumer demand.

Saigon Trading Group (Satra) said that it was also focusing on preparing more than 2,421 tons of key products, such as rice, processed food, and cattle meat, to stabilize the market during Tet holidays, an increase of 63 percent compared to ordinary months and 43 percent compared to the plan assigned by the city, equivalent to the capital level of VND277 billion.

Of which, pork reaches 2,142 tons; the remaining products, including rice, processed foods, and fish sauce, are nearly 300 tons. Moreover, Satra's retail network also prepares a plan to source and reserve goods with a value of about VND526 billion, an increase of 13 percent, to ensure supply safety for the Tet market.

Mr. Nguyen Phuc Khoa, Deputy General Director of Satra, said that the new point in Tet goods preparation this year is that Satra focuses on food safety inspections. In which, inspection will be enhanced from the root and the beginning, including items that are already on the shelves. Besides, Satra also increases stockpiles of products for Covid-19 prevention and extends service times by three to four hours from February 1, 2021, or the 20th day of the twelfth month in the lunar calendar.

The price of pork has been stable because pig repopulation has been done quite well domestically, and the amount of imported frozen meat has arrived fully in cold stores of Satra. According to Mr. Khoa, the price of frozen pork imported from Russia was up to VND128,000 per kilogram in the past, but now it has decreased sharply to only around VND70,000 per kilogram. Satra will actively present more frozen pork products, with packaging sizes from 2 to 3 kilograms, to the market in case pork products heavily attract customers. On the other hand, Satra and its member companies will add about 20 new products, such as seasoned meat and spring rolls, to best serve the shopping needs of people during the Tet holidays.

Similarly, Saigon Co-op has prepared 3,500 tons of safe pork at lower prices than the market from large suppliers, namely Vissan, CP, Anh Hoang Thy, Meat Ha Nam, Nam Phong, and Feddy, so consumers should not worry about pork. Besides, Saigon Co-op also prepares a large amount of beef, poultry meat, and seafood and offers discounts in turn for consumers to have more choices.

Regarding purchasing power, most enterprises concern that at this time, the purchasing power not only has not increased yet but also decreased slightly over the same period. Even orders for Tet gift baskets have not shown any positive signs. To boost demand, enterprises will continuously run discount programs for a wide range of essential goods, develop more sales network for Tet goods, strengthen linkage with partners, namely Grab, Baemin, Now, and Sen Do, to sell products online and increase coverage of Tet products. They will also offer more utilities for customers, such as door-to-door delivery and free gift-wrapping, and strengthen mobile sales trips to remote and rural areas, creating conditions for people to buy Tet goods.

Hanoi agricultural sector estimated to expand at record rate of 4.2% in 2020

For next year, Hanoi targets growth of the agricultural sector by at least 3%.

Hanoi’s agricultural sector in 2020 is set to expand at 4.2% - the highest rate in recent years, and cements its role as a strong foundation for the economy during a difficult period of time.

 Overview of the online conference from the Hanoi People's Committee. Photo: Trong Tung. 
Vice Chairman of the Hanoi People’s Committee Nguyen Manh Quyen revealed the data at a national online conference discussing the performance of Vietnam’s agriculture in 2020 and targets for 2021 on December 24.

Total production value of agro-forestry-fishery in the city rose by 4.5% against the same period of last year to VND38.1 trillion (US$1.67 billion), which is a positive result despite numerous challenges and difficulties in 2020, including the African Swine Fever, H5N6 avian influenza, and especially the Covid-19 pandemic, noted Mr. Quyen.

“To help the sector overcome these problmes and further contribute to socio-economic development, Hanoi has been pushing for greater production in agriculture, including pig herds repopulation and setting up measures against potential diseases during the production process,” Mr. Quyen continue.

There have also been positive changes in the structure of the city’s agriculture towards a greater focus on market demand, which helps create more jobs and better incomes for farmers, he suggested.

“Hanoi will continue to develop hi-tech farming with higher added-value and safety standards,” Mr. Quyen added.

In 2020, the average income of locals in rural areas is estimated at VND55 million (US$2,378) per year, up VND3.5 million (US$151.37) against last year.

During the 2018-20 period, Hanoi allocated VND82 billion (US$3.54 million) to classify 800-1,000 goods and products under the OCOP program and acknowledge other 500 as OCOP products. So far, 700 products have been classified as OCOP products in 2020, exceeding the original target.

For next year, Hanoi targets growth in the agricultural sector by at least 3%. Mr. Quyen said the city would request the government to revise the Land Law to address its existing shortcomings, including the issue of land consolidation and creating more favorable conditions to encourage further investment in the sector, especially in hi-tech farming.

Cambodian gov’t extends COVID-19 aid for aviation, tourism

The Cambodian government on December 24 announced a seventh round of stimulus measures for the aviation and tourism sectors, aiming to boost their business activities and ease their financial burden in the face of severe challenges stemming from the spread of COVID-19.

The measures will extend the 10 percent minimum tax exemption for all airlines registered in Cambodia for a period of three months from January to March next year, the government said in a press release.

At the same time, the government has extended the payment of civil aviation fees for three months and allowed the airlines to arrange for the payment of debts outstanding in installments after the extension period.

The government will also extend its 40 USD payments to suspended employees in tourism-related businesses, including hotels, guesthouses, restaurants and travel agencies based in Phnom Penh, Kampot, Preah Sihanouk, Kep and Siem Reap provinces or Bavet and Poipet towns.

Cambodia Chamber of Commerce vice-president Lim Heng noted that this latest round of stimulus measures would better serve to alleviate the burden on the public sector and allow businesses to stay afloat during this time.

According to data from the Ministry of Tourism released early this month, international tourist arrivals to Cambodia in the first 10 months of this year dropped 76.1 percent year-on-year./.

PM requests impact assessment for Gia Lai golf course project

Prime Minister Nguyen Xuan Phuc has requested the Ministry of Agriculture and Rural Development (MARD) assess the environmental impact of the Dak Doa golf course project in the Central Highlands province of Gia Lai.

According to a document imparting the Government leader’s instructions, the media has recently quoted many experts as saying that construction would change the land use of hundreds of hectares of forests, including 156 ha of 50-year-old pine forests, thus destroying vegetation and affecting the locality’s ecological balance.

The PM asked the MARD to study and evaluate the environmental impact and report back to him.

Earlier, the Vietnam Administration of Forestry at the MARD required that Gia Lai province reconsider its proposal to use 174 ha of forest land for the golf course.

In its document sent to the province, the administration said that climate change has caused extreme weather phenomena and disasters.

Even though there is no official conclusion as yet, National Assembly deputies and experts have questioned if a decline in forest areas is a contributing factor.

The Dak Doa golf course project is part of a high-end eco-tourism resort and entertainment complex of the FLC Group. It is to cover 197.3 ha and the land will be leased for 50 years. Total investment is over 1.3 trillion VND (56 million USD)./.

Source: VNA/VNN/VNS/SGGP/VOV/NDO/Dtinews/SGT/VIR