Woodwork, seat satisfactory targets home marketplace for domestic products
The annual Viet Nam Furniture and Home Furnishing Fair, to be reason in HCM City subsequent week, aims to foster locally done furniture, home decor, and trade products in a domestic market.
Huynh Van Hanh, a Handicraft and Wood Industry Association of HCM City (Hawa)’s station clamp chairman, pronounced VIFA Home 2014 has captivated 115 internal and unfamiliar firms endangered in timber processing, interior decoration, and consulting, an boost of 20 per cent from final year.
On arrangement will be outside and indoor furniture, handicrafts and home decor, domicile appliances, garden decor, support services, gifts, souvenirs, trade items, and materials for a timber estimate industry.
With a Vietnamese housing marketplace nonetheless to recover, a seat and home taste attention faces difficulties, and their domestic sales is approaching to customarily boost marginally from final year’s US$1.9 billion, Hanh said.
From subsequent year, when a ASEAN Economic Community comes into effect, internal producers would face extreme foe even in a domestic market, he said.
To sojourn competitive, firms need to map out long-term business strategies and urge product peculiarity and patron use among other measures, he said.
The satisfactory would offer them a good possibility to investigate consumer tastes and lift their placement network in a domestic market, he said.
Exports of timber and timber products were value $4.44 billion in a initial 9 months of a year, and are approaching to tip $6.5 billion this year, he said.
VIFA Home 2014, organized by Hawa, will be reason during a Tan Binh Exhibition and Convention Centre from Nov 6 to 9.
Viet Nam targets Egyptian market
Vietnamese and Egyptian businesses should attend in trade fairs and investment graduation conferences in their particular countries to settle approach partnerships and equivocate risks compared with third celebration go-betweens.
Dao Thanh Chung, a Vietnamese Ambassador to Egypt, delivered this summary during a forum on graduation Viet Nam’s agro-forestry-fishery products in a Egyptian marketplace final Thursday.
Chung pronounced untapped co-operation opportunities awaited a business communities of Viet Nam and Egypt, given a former has been a vast exporter of agro-forestry-fishery products in a universe while a latter has seen a poignant arise in approach for these goods.
Adel Aref of a Federation of Egyptian Chambers of Commerce cited a miss of marketplace information as one of a biggest barriers for Egyptian companies who wanted to deposition in a Southeast Asian country.
He stressed a significance of frequently organising mercantile conferences where Egyptian companies could accept a latest information on business opportunities in Viet Nam.
Some Egyptian businesses during a eventuality showed interests in importing solidified seafood products from Viet Nam while others hoped to find domestic counterparts in a prolongation and placement of animal feed.
In annoy of poignant swell in common trade from 2009 to 2012, trade volume decreased neatly by 24 per cent in 2013 following domestic disturbance in Egypt, according to a Viet Nam Chamber of Commerce and Industry.
However, Vietnamese exports to Egypt have rebounded to US$200 million given a commencement of this year and are approaching to surpass $300 million by year-end, with pivotal trade equipment including seafood; rural products such as pepper, cashew nuts and coffee; automotive gangling parts; and cellphones and components.
Malaysia-VN trade to strech $10b
Bilateral trade value between Malaysia and Viet Nam is approaching to hoard some-more than US$10 billion in 2014.
Malaysian Ambassador to Viet Nam Datuk Azmil Mohammed Zabidi done this matter after attending a cooking with a Malaysian fortuitous to a ASEAN Skills Competition here final Monday.
Datuk told Bernama that nonetheless a trade value seemed small, it was an enlivening figure given Viet Nam was still in a early stages of a development.
The Viet Nam News Agency quoted a envoy as observant trade ties between a dual countries should be offer extended to capacitate Kuala Lumpur and Ha Noi to advantage from closer relations.
Datuk suggested that Malaysia’s investment in Viet Nam reached $20 billion in a past 20 years and currently, some-more than 400 Malaysian companies were doing business with Viet Nam, mostly in genuine estate projects.
Malaysian companies seeking unfamiliar work should spin to Viet Nam, as it is equipping a youths with skills for a camp and prolongation sectors before promulgation them to work abroad, Azmil said, adding that currently, about 20,000 Vietnamese workers were operative in Malaysia.
With a race of about 90 million, Viet Nam provides a poignant eventuality in genuine estate enlargement and Malaysian products, explained Azmil.
“In fact, Malaysian companies are endangered in about 450 projects value $11 billion, possibly unconditionally owned or on a corner try basis,” he noted.
He suggested that currently, about 1,500 Malaysian entrepreneurs were purebred with a Malaysian Embassy in Viet Nam, with 700 of them doing business in HCM City and a rest in Ha Noi.
Azmil combined that detached from enhancing trade and investment between both countries, a embassy was also ironing out constraints faced by Malaysian companies doing in Viet Nam.
Tax talks prominence routine deficiencies
Difficulties in taxation and etiquette policies surfaced a bulletin of a discourse that a Ministry of Finance (MoF) and Viet Nam Chamber of Commerce and Industry (VCCI) conducted with enterprises yesterday.
The annual event, that aims to yield a business village with latest information on taxation and etiquette issues, drew a appearance of a vast array of companies and was deliberate a many straightforward and open assembly between State officials and enterprises concerning solutions to problems and problems confronting enterprises.
This was a eventuality for enterprises to have a approach discourse with a leaders of a MoF, as good as etiquette and taxation administrators.
At a dialogue, Doan Duy Khuong, VCCI emissary chairman, pronounced a Government was actively compelling mercantile restructuring and enlargement to speed adult a country’s socio-economic enlargement and ubiquitous integration.
Khuong combined that Viet Nam was building a marketplace economy and delving deeper into ubiquitous integration.
Besides implementating World Trade Organisation commitments and giveaway trade agreements, Viet Nam is now negotiating for trade agreements with heading mercantile giants such as a United States and European Union, as good as Canada, Russia, China and South Korea.
Also, with a investiture of a ASEAN mercantile village subsequent year, Viet Nam will spin a overpass joining Asean economies with informal and a tellurian markets.
Deputy Finance Minister Do Hoang Anh Tuan pronounced a discourse was one of a annual MoF activities that directed to assistance businesses overcome problems in taxation and etiquette declarations, as good as support a MoF in collecting petitions from businesses to effectively remodel executive procedures in a margin of taxes and customs.
Tuan told participants that nonetheless a mercantile enlargement rate augmenting by 5.8 per cent year-on-year, an estimated 57,000 businesses were possibly dissolved or dangling operations given of problems in business performance. Only 29 per cent of businesses are profitable, he added.
Tuan pronounced a array of exporters remained unchanged, and a unfamiliar approach investment zone remained a largest writer to trade turnover during 66 per cent.
Viet Nam’s ongoing trade negotiations are approaching to pierce advantages as good as challenges, he added, and urged participants to plead good policies as good as problems with stream mechanisms and make recommendations that would support businesses in overcoming challenges.
Cao Anh Tuan, emissary executive of a General Department of Taxation (GDT), supposing updates on taxation policy, taxation administration and measures to palliate problems of corporate and particular taxpayers.
To assistance taxpayers overcome difficulties, a MoF, GDT and Government have released circulars, decrees and dispatches. In addition, a MoF has submitted to a Government and a National Assembly a breeze law on Special Consumption Tax and supplemented 5 laws on VAT, as good as corporate income tax, personal income tax, apparatus taxation and taxation administration.
The amendments are also associated to a extent on waste for advertising, marketing, trade, graduation and reception, and are approaching to cut about 80 hours of executive taxation and etiquette procedures.
Regarding taxation remodel implementation, an estimated 416,689 enterprises, accounting for 85.5 per cent of a sum number, have so distant filed electronic taxation declarations, and it is approaching that by a finish of this year, about 95 per cent of businesses will record electronic taxation declarations.
The GDT has worked with Vietcombank and Agribank, as good as BIDV, MB and Vietinbank, to lift out e-tax payment. This indication has been carried out in 18 provinces and is approaching to be implemented in a remaining provinces soon.
Vu Ngoc Anh, GDT emissary ubiquitous director, supposing updates on a new essence of a Customs Law that a National Assembly upheld final Jun and that will take outcome in January.
Pham Thi Loan, arch executive officer of Viet A Group, pronounced etiquette authorities indispensable to hearing their opening after post-clearance investigation to beget incentives for businesses.
Loan suggested that her association alien visual wire for a domestic wiring and telecommunications attention with marker numbers during 0 per cent. However, etiquette authorities practical a three-per cent taxation on her company.
She remarkable that a post-clearance investigation directed to equivocate trade rascal by companies, nonetheless authorities’ opening has done it some-more formidable for businesses.
Loan also submitted her petition job on agencies to effectively urge procedures for doing complaints from businesses and entirely hearing a tariff list to equivocate saddling businesses with concerns and losses.
Nguyen Hoai Nam, emissary ubiquitous secretary of a Viet Nam Association of Seafood Exporters and Producers, pronounced about 90 per cent of businesses always encountered problems in post-clearance investigation and shocking systems of overdue taxation on a electronic remuneration system.
Nam combined that businesses now approaching a doing and coordination of etiquette and taxation authorities to be unchanging to make it easier for all concerned.
NA urges faster SOE restructuring
Lawmakers are seeking a Government to speed adult a restructuring of State-owned enterprises, a banking zone and open investment to boost mercantile growth.
This came out in a news that Nguyen Van Giau, authority of a National Assembly Committee on Economic Affairs, presented on Saturday.
The news of a NA Standing Committee on a organisation of a mercantile restructuring process, that is partial of NA’s Resolution 10/2011/QH13 on a socio-economic enlargement devise for 2011 to 2015, pronounced mercantile restructuring in a final 3 years had generated formula nonetheless were still subsequent expectations.
The NA remarkable that from 2011 to 2014, a Government cut 1,550 projects and restructured 272 State-owned enterprises. From 2011 to 2013, a Government was also means to deprive about VND3.94 trillion (US$185.5 million) from State-owned enterprises.
However, a NA combined that a doing of some reforms was still slower than approaching as restructuring policies were not effective enough.
In addition, a Government had not done a extensive comment of a economy and a miss of co-ordination still existed between parties in a restructuring process, it added.
Average mercantile enlargement from 2011 to 2015 is approaching to strech customarily 5.78 per cent, that is revoke than a Government aim of 6.5 to 7 per cent. Trade over-abundance is unsustainable given of domestic companies’ onslaught in prolongation and accompanying rebate of imports.
The economy’s competitiveness has nonetheless to be extended and work capability stays low, according to a NA Standing Committee.
State bill overspending stays high, with sum debt underneath simple construction from a State bill and organisation holds as of Aug 30 estimated to be about VND44,594 billion (about $2.1 billion).
Deputy Nguyen Thi Kha of Tra Vinh Province pronounced State-owned craving restructuring had not seen critical breakthroughs, as divestment fell brief of expectations and a intensity strengths of a private zone had not been entirely tapped.
He combined that those drawbacks came as craving leaders were not confidant adequate in their actions, so seeking a Government to discharge a disastrous change of seductiveness groups and reason State-owned enterprises accountable.
Regarding a banking system, a NA Standing Committee pronounced a fast arise in a array of blurb banks in new years had caused instability, as it had not been accompanied by extended governance.
Deputy Trinh Ngoc Phuong of Tay Ninh Province pronounced resolution bad debts in a banking complement compulsory classification out a mixed of cross-ownership and cross-investment in a sector.
Public investment also came underneath a spotlight as a array of deputies remarkable that a zone was tormented with problems such as over-diversification, inefficiency and unsound organisation over construction.
Deputies Nguyen Van Hien of Ba Ria-Vung Tau and Do Manh Hung of Thai Nguyen Province remarked that given singular capital, a Government should control a hearing of open investment projects and organize them according to set priorities.
Regarding open investment, lawmaker Y Khut Nie of Dak Lak Province pronounced officials who had authorized ineffectual investment projects contingency be reason obliged for their actions.
Some NA members suggested that a volume of debt underneath collateral construction could be aloft than 44 trillion dong, and a clearer comment was indispensable of such debts.
Others wanted a Government to take note of a array of construction projects that cost trillions of dong nonetheless have nonetheless to grasp their full potential, causing open conflict and a slack in a quarrel opposing corruption.
Hien pronounced restructuring companies also meant restructuring staff supervision during State agencies and their responsibilities.
Investment and Planning Minister Bui Quang Vinh certified that a routine still faced critical hurdles, and areas of restructuring could take many years. He suggested that a Government sequence any method and zone to arise their possess restructuring plans. The lawmakers celebrated that a Government indispensable to feature a anti-corruption efforts and offer remodel executive procedures to lift a potency of open investment projects.
Deposit rate cut has tiny effect
Le Ngoc Huong of HCM City’s Tan Binh District has motionless not to lift out her deposition of VND1 billion from a bank nonetheless a seductiveness rate has depressed from 5.6 per cent to 5.1 per cent.
She says she brave not deposition a income in anything else given of a high risk involved.
Analysts contend many of a idle income stays in banks even after a State Bank of Viet Nam motionless to revoke a seductiveness rate tip on deposits of reduction than 6 month from 6 per cent to 5.5 per cent late final month.
After a move, many lenders including tiny and medium-sized ones, have slashed their deposition seductiveness rates. Asia Commercial Bank for instance reduced a rates for one- and two-month deposits from 5.3 per cent to 4.9 per cent and for 3 and 9 months to 5.1 and 6 per cent.
Orient Commercial Joint Stock Bank has also cut seductiveness rates on short-term deposits, nonetheless this has had no impact on mobilization, according to emissary ubiquitous executive Truong Dinh Long.
“[This] year a bank’s deposits have augmenting by 11 per cent,” he told Dau Tu Chung Khoan (Securities Investment) newspaper.
He attributed it to a fact that other item classes like property, stocks, gold, and unfamiliar currencies are not appealing yet.
With acceleration being contained during a rather low spin (estimated during 3-4 per cent for this year), depositors suffer a certain genuine seductiveness rate even after a rate on short-term deposits was cut to 5.5 per cent and on longer tenure deposits to 6-8 per cent per year, he said.
Trinh Minh Thao, Techcombank’s conduct of sell banking in a south, concurred, adding that many people now elite long-term deposits on that rates are 1-1.5 per cent aloft than for brief terms.
Vietcombank has always taken a commencement in slicing seductiveness rates nonetheless a deposits had augmenting by 17.67 per cent as of late September, according to a ubiquitous executive Nghiem Xuan Thanh.
Its seductiveness rate now stands during 4.3-5 per cent for one- and three-month deposits and during 6.3 per cent for 24 months, he said.
According to a executive bank, as of Oct 24 deposits had grown by 11.88 per cent this year.
After obscure a seductiveness rate tip for short-term deposits, a executive bank called on State-owned banks to revoke their lending seductiveness rates for 5 priority sectors, and lenders have responded positively.
Deputy ubiquitous executive of Vietcombank, Nguyen Danh Luong, pronounced final week his bank had lowered a seductiveness rate on short-term loans to a 5 priority sectors from 8 per cent to 7 per cent.
“Vietcombank is prepared to tweak a distinction skeleton in a approach that … also supports businesses.”
BIDV ubiquitous executive Tran Xuan Hoang pronounced that in a final 3 years his bank has always taken a commencement to share businesses’ problems by slicing loan seductiveness rates nonetheless that strike a bottom line.
“In response to a executive bank’s call, BIDV would continue to adjust lending seductiveness rates.”
OCB emissary ubiquitous executive Dinh Duc Quang pronounced he upheld a executive bank’s routine of obscure lending seductiveness rates.
“Though a economy shows signs of recovery, domestic enterprises still face with many difficulties. So, revoke lending seductiveness rates would emanate conditions for a businesses to arise their prolongation and business activities.”
Dr. Tran Du Lich, a member of a National Monetary and Financial Policy Advisory Council, pronounced a cut in lending rates, quite for medium- and long-term loans, would have a certain impact on a economy.
According to HSBC, a cut in a deposition rate tip is partial of a executive bank’s efforts to boost credit growth, that is approaching to accelerate by year end.
PetroVietnam told to finish refinery plan
Deputy Prime Minister Hoang Trung Hai has asked a Viet Nam National Oil and Gas Group (PetroVietnam) to finish a Dung Quat Oil Refinery enlargement devise proposal, reports news portal Vneconomy.
According to a Deputy PM’s order, PetroVietnam is obliged for giving full reason for a coercion of a project, and for evaluating and comparing a potency of opposing measures that can be taken to lift a oil refinery.
Hai also asked PetroVietnam to calculate a potency of a enlargement if a devise is postulated investment priority, and in box it is not.
He suggested that PetroVietnam should cruise adding a wanton oil storage trickery to a enlargement project.
The devise offer contingency be submitted to a Ministry of Industries and Trade (MoIT) for offer hearing before Nov 11.
The MoIT has been asked to set adult a cabinet with member from a applicable branches and a Quang Ngai People’s Committee to scrutinize a Dung Quat oil refinery enlargement project, and news to a Prime Minister in November.
The People’s Committee has also been asked to be prepared with a skeleton for land clearance, resettlement and remuneration for internal residents, to concede doing of a devise as shortly as a offer is approved.
Once a enlargement devise is completed, a Dung Quat oil refinery’s ability will be augmenting to 10 million tonnes of wanton oil submit per year from a stream spin of 6.5 million tonnes.
This pierce is enclosed in a intrigue to arise petrochemicals given if a submit is confirmed during 6.5 million tonnes, a outlay will be about 6 million tonnes, and hence, there will be roughly no proposal element for petrochemicals.
The investment for a enlargement devise is estimated to be US$1.8 million to $2 billion.
PetroVietnam is also deliberating a sale of 49 per cent of a shares of a oil refinery to unfamiliar partners, including Gazprom Group of Russia.
Garment zone restyles prolongation model
Viet Nam’s panoply and textiles zone is exerting efforts to reconstruct a prolongation methods so it could say a standing as a tip universe panoply producer.
The pierce comes in a light of advantages offering by a Trans Pacific Partnership (TPP) and other giveaway trade agreements that a nation has entered into with informal trade blocs around a world.
Le Tien Truong, Viet Nam Textiles and Garment Group (Vinatex) ubiquitous director, pronounced that after years of prolongation processed products, enterprises had gained many knowledge in manufacturing, supervision and labour.
This resources of knowledge serves as a substructure for enterprises to change to FOB (freight on board) and strange pattern manufacturer (ODM) models, according to a ubiquitous director.
Vinatex is dynamic to request as shortly as probable a ODM model, that will concede a association to conclude a sequence linkage of dye-textile-garment and urge a business efficacy index.
The organisation will hearing and urge operations to accommodate prolongation targets for a domestic and ubiquitous markets.
Nguyen Xuan Duong, supervision house authority of Hung Yen Garment Corporation Joint Stock Company, pronounced that to be means to furnish with a ODM model, endangered sectors such as textiles, panoply and dyes had to arise during a same time.
However, a panoply and textiles zone was diseased in 3 areas: product development, offering and sequence linkage. To arise a ODM model, businesses contingency overcome these weaknesses, generally marketing, as good as explain targets for a zone and breeze a element attention enlargement plan.
Viet Nam’s panoply exports in a initial 9 months of a year reached US$18 billion, a 19-per cent year-on-year increase, and a panoply imports reached $11 billion, pronounced a Ministry of Industry and Trade (MoIT). As a result, a zone achieved a $6.2-billion trade surplus.
Dang Phuong Dung, ubiquitous secretary of a Viet Nam Textile and Apparel Association (VITAS), pronounced that in annoy of a high trade turnover, a combined value remained modest.
This was attributed to sectoral coherence on alien materials, as a nation could customarily yield 1 per cent of approach for string and 20.2 per cent of approach for textiles.
Although a zone could furnish 6 million twine bundles any year, customarily 30 per cent of a twine bundles could be used given peculiarity stays subsequent standard.
Sectoral appearance in a tellurian supply sequence is deliberate passive, according to Dung. The zone is generally focused on prolongation processed products and lacks product indication designers. Businesses that furnish processed products are also pacifist in seeking and expanding markets.
Ho Thi Kim Thoa, emissary attention and trade minister, pronounced a stream universe trend in panoply enclosed a enlargement of a package supply sequence and e-commerce trading, both of that remained a plea to Viet Nam.
In line with this, a MoIT final Apr authorized a panoply and textiles enlargement devise from 2020 to 2030 that aims to make a zone a pivotal trade attention and capacitate it to accommodate augmenting domestic demand, emanate some-more jobs, lift competitiveness and resolutely confederate with a informal and ubiquitous economy.
In a past few years, a zone has been relentless in improving a investment environment, extenuation favoured policies, expanding co-operation and luring capital.
Separate giveaway trade agreements that Viet Nam has entered into with a European Union and a Customs Union of Russia, Belarus and Kazakhstan, as good as a TPP, would offer as outrageous opportunities for a zone to offer entrance universe markets, combined Thoa.
Viet Nam, Slovakia aim to foster trade
A convention was reason in Bratislava, a collateral city of Slovakia, to yield Slovakian businesses and financial institutions with information on Viet Nam’s investment climate.
The Viet Nam Trade Office in Slovakia and a Czech Republic assimilated Bratislava’s Chamber of Commerce and Industry in organising a mid-week convention that directed to foster trade between Viet Nam and Slovakia.
At a event, Nguyen Thang Long, Head of a Viet Nam Trade Office in Slovakia and a Czech Republic, pronounced common trade between a dual countries augmenting 6 – to seven-fold in a past 3 years.
The certain outcome laid a plain substructure for a destiny enlargement of extensive co-operation between a dual nations, explained Long.
In addition, he stressed a need to offer a Slovakian business village with some-more present information on Viet Nam’s socio-economic conditions, adding that Vietnamese enterprises in Slovakia and a Czech Republic would play a critical purpose in compelling common co-operation and investments.
For his part, Juraj Majtan, executive of Bratislava’s Chamber of Commerce and Industry, spoke rarely of a normal co-operation between a dual business communities, indicating that they common a good intensity for partnership in a fields of machine manufacturing, information record and tourism.
Vietnamese products gained a clever foothold in a Slovakian marketplace in new years, according to Vietnamese Ambassador to Slovakia Ho Dac Minh Nguyet.
Miroslav Lajcak, Slovakian emissary primary apportion and point unfamiliar and European affairs minister, will compensate an executive revisit to Viet Nam on Nov 4 and 5 during a invitation of his Vietnamese counterpart, Pham Binh Minh. He will be accompanied by member of vast Slovak companies.
Deposit rate cut boosts optimism
Investors were upbeat over news of a State Bank of Viet Nam’s seductiveness rate cut final week, nonetheless slow counsel over marketplace opinion calm a arise of Vietnamese batch indices.
Last Wednesday, a SBV motionless to revoke a roof seductiveness rates on Vietnamese dong deposits from 6 per cent to 5.5 per cent and on US dollar deposits from one per cent to 0.75 per cent.
This is a second time that a SBV has slashed regulatory seductiveness rates this year.
According to Dang Bao Khanh, ubiquitous executive of SeABank, this preference will approaching pierce investment to other channels, including a bonds market.
“The batch marketplace will accept new collateral investment flows, nonetheless not surging, as a economy is still undergoing difficulties,” Khanh said.
Many experts also establish that a SBV preference will have a certain impact on a Vietnamese batch markets given batch prices customarily changed in a instruction opposing that of seductiveness rates.
At a HCM City Stock Exchange, a benchmark VN-Index once some-more augmenting by some-more than 600 points, adding a accumulative 1.58 per cent during a week to tighten during 600.84 points.
Blue chips recovered as a VN30, that marks a tip 30 shares by marketplace value and liquidity, softened by 1.47 per cent to finish during 638.78 points.
Ocean Group rebounded late final week after several disappearing sessions due to a detain and apprehension of a former leader.
Other large-cap shares were actively traded, including PV Gas, Masan Group, Bao Viet Holdings and Vietcombank, as good as Sacombank and Vietinbank.
Liquidity softened somewhat compared with that of a prior week, with daily marketplace volume augmenting by some-more than 8 per cent to an normal of 110 million shares value VND1.874 trillion ($88.8 million) per session.
Foreign investors finished their eight-week offering strain and returned as net buyers in a HCM City market. Their net squeeze value was medium nonetheless helped palliate financier pessimism.
They were obliged for a sum net squeeze of some-more than VND375 billion ($17.8 million), focusing on blue chips such as PetroVietnam Drilling and Wells Service, Kinh Do Corp and Hoa Phat Group.
They remained net sellers in a Ha Noi marketplace nonetheless with a tiny value of usually VND26 billion ($1.2 million).
Foreign purchases are critical to a liberation of a market, that could decrease during some sessions this week nonetheless is compulsory to exam a approach and establish a trade trend of foreigners, according to analysts during FPT Securities Company.
At a Ha Noi Stock Exchange, a HNX-Index also climbed by 1.14 per cent to finish during 88.03 points, nonetheless trade volume decreased by some-more than 14 per cent from that of a prior week, averaging 51.4 million shares value some-more than VND725 billion ($34.4 million).
Mobile World hits yearly aim in 9 months
Giant mobile phone tradesman Mobile World Investment Corporation announced on Friday that it had achieved a full year distinction aim in usually 9 months.
At a media lecture in HCM City, a association reported after-tax boost of VND488 billion (US$23 million) for a initial 9 months on revenues of over VND10.9 trillion ($519 million), a 66 per cent year-one-year rise.
MWG authority and CEO Nguyen Duc Tai hailed a grant done by online sales.
“The income from online business in 9 months was over VND608 billion ($29 million), double a figure for a whole of 2013. By a finish of this year a income is approaching to be over VND800 billion ($38 million).”
During a duration in hearing a association non-stop 60 some-more stores. In Oct only, 28 stores were non-stop nation-wide.
Tai pronounced thegioididong.com has a marketplace share of 28-30 per cent and would stop expanding when it reaches 40 per cent.
MWG skeleton to concentration on building a consumer wiring and home reserve sequence dienmay.com subsequent and targets care of that marketplace too with a share of 8-10 per cent.
SBV moves to boost VAMC licence capital
The State Bank of Viet Nam (SBV) has asked a Government to boost a licence collateral of Viet Nam Asset Management Company (VAMC).
SBV Deputy Governor Nguyen Thi Hong done a announcement, observant a pierce aims to lift a company’s financial ability to buy and sell bad debts during prevalent marketplace prices.
VAMC’s stream licence collateral is VND500 billion (US$23.58 million), that is usually medium in comparison with a sum non-performing debts that a association has to understanding with.
SBV sum showed that in a initial 10 months of 2014, VAMC bought bad debts value around VND125 trillion ($5.9 billion) and resold bad debts value VND4 trillion ($190.4 million) to a public. There was a offer to boost a VAMC licence collateral to VND2 trillion.
The sum also showed that from time a devise to solve bad debts in a Vietnamese banking complement was implemented in 2012, a country’s bad debt ratio was reduced from 17 per cent, during VND460 trillion, to 5.43 per cent, during VND252 trillion.
Hong pronounced a SBV and credit institutions differed in a approach they accounted for bad debts, ensuing in opposing figures.
Reports of credit institutions showed that a bad debt ratio had declined from 4.17 per cent by end-June to 3.88 per cent by end-September.
The SBV pronounced regulations on VAMC operations that limited a association from regulating a State bill to solve bad debts were placed underneath hearing to revoke a company’s difficulties.
Mastercard looks during internal non-cash remuneration sector
Viet Nam with a 90 million race and vast suit of immature people as good as high internet entrance offers has outrageous intensity for a non-card remuneration business, a MasterCard executive has said.
Arn Vogels, a label company’s Indochina director, pronounced Viet Nam had recently been holding stairs towards non-cash remuneration interjection to a array of factors including a enlargement of a label acceptance network.
“With a augmenting e-commerce and a renouned use of intelligent phones, non-cash remuneration will certainly spin indispensable here,” he told a media on Wednesday.
“We cruise Viet Nam a many earnest marketplace in a region.”
There are around 30,000 taxis operated by scores of companies in a country, nonetheless customarily any one in HCM City and Ha Noi accept cards, according to a director.
The country’s half million tiny and medium-sized enterprises and micro businesses and approach sales and word companies are also untapped opportunities for non-cash payment.
The array of merchants usurpation cards in Viet Nam, during 1.06 per 1,000 persons final year, is low by Southeast Asian standards. The allied rates are 2.51 in Indonesia, 4.88 in Thailand, and some-more than 10 in Singapore. In Australia, it goes adult to 31.62.
But a network was flourishing quickly, he said, citing statistics from a Vietnam Bankers Association display there were some-more than 132,000 merchants and 15,000 ATMs as of Jun end.
The State Bank of Vietnam has set a aim of 250,000 merchants by a finish of subsequent year.
Speaking about a hurdles to popularising non-cash payment, he pronounced even organisation disbursements like stagnation stipend were still in cash, that was discouraging.
The routine of compelling non-cash payments and expanding a merchants’ network could not be achieved overnight and would take time and corner efforts by a Government, use providers, and consumers, he said.
Nguyen Hoa Binh, authority of e-commerce solutions provider Peacesoft, whose auxiliary MPOS Tech Vietnam recently began producing mobile label readers — that are now many cheaper than normal ones — pronounced given a designation and operation of a businessman network was expensive, banks were heedful of investing in it. This, in turn, confirmed people’s robe of regulating cash.
With few non-cash transactions, a investments they had done naturally outcome in losses, creation banks heedful even more.
Another jump to popularising non-cash payments was a fear of burglary by hacking and phishing attacks.
Nguyen Minh Khang, who works for a unfamiliar association in HCM City and mostly travels abroad, pronounced he customarily used his credit label on these trips.
“When we lapse home, we get a bank to close my label until a subsequent trip. My comment has been stolen several times,” he told Viet Nam News.
“Each time it was a sum of around US$10. So angry for such a tiny volume is not value a effort. But we can’t let it go on like that and so we have my comment sealed when we come behind home.”
He forked out that tiny sums supplement adult to poignant amounts generally if stolen from many cards.
HCM City ups informal business links
Links between businesses in HCM City and other cities and provinces in a southern segment have softened as a outcome of a team-work programme begun in late 2011.
Le Hoang Quan, authority of a HCM City People’s Committee, pronounced underneath a programme, 520 contracts value some-more than VND19 trillion (US$894.7 million) had been sealed between city businesses and companies in a southeastern and southwestern regions.
Of a total, HCM City firms purchased products value VND13 trillion ($621.1 million) from these regions, and granted products value VND6,000 trillion to a area.
Quan was vocalization yesterday during a assembly in HCM City reason to hearing a formula of a programme.
Every day, 3 indiscriminate markets in a city accept an normal of 8,000 tonnes of plantation furnish and food products ecstatic to localities.
Truong Quang Hoai Nam, emissary authority of a Can Tho City People’s Committee, pronounced a programme had helped businesses benefit entrance to a placement channel of HCM City.
He pronounced that farmers and animal breeders were now some-more peaceful to make investments to supply peculiarity products during reasonable prices to HCM City firms.
Do Thang Hai, emissary apportion of Industry and Trade, praised a achievements of a programme nonetheless urged HCM City and other cities and provinces to code intensity businesses to urge product peculiarity and code building.
Other goals embody a impediment and control of feign products and trade fraud, as good as a enlargement of sterilizing brands, he said.
Nam suggested that HCM City emanate conditions to assistance businesses lift outlets for products done in Can Tho and a Mekong Delta, and build logistic centres in a segment to cut ride costs.
The assembly also enclosed linkages between producers and distributors. More than 1,100 producers, distributors, indiscriminate markets, restaurants, hotels, and eateries from 38 areas national have participated.
Le Ngoc Dao, emissary executive of a Department of Industry and Trade, pronounced a linkages assistance yield outlets for companies’ products.
Distributors yield businesses and co-operatives with compulsory information about peculiarity standards compulsory by a city’s placement system, Dao said.
More and some-more businesses have assimilated in a programme, she added.
Last year, 23 provinces and 347 companies attended a second event, with 229 contracts signed. In 2012, 14 provinces and 198 businesses took part.
At a eventuality yesterday, 347 contracts were sealed between producers and supermarkets, indiscriminate markets, and distributors like Co-opmart, Citimart, Maximark and Big C.
Nguyen Thi Hanh, Saigon Co.op ubiquitous director, pronounced Saigon Co.op had combined enlightened conditions to assistance producers sell their products to a sell chain.
Under contracts sealed with internal producers, a association in a past year helped companies make better, safer, well-packaged products during reasonable prices.
Phan Thanh Binh, ubiquitous executive of Bich Chi Food Company, pronounced distributors who had sealed contracts with a association offering instruction in food hygiene and reserve processes, and wrapping of products. Beginning subsequent year, when a ASEAN Economic Community comes into effect, internal producers are approaching to face extreme foe in a domestic market.
Developing closer linkages in prolongation and trade would be critical for internal companies, Quan said.
Japan organises ICT satisfactory in Ha Noi
Japan ICT Day non-stop in Ha Noi on Thursday, with a concentration on team-work between Viet Nam and Japan in large-scale information record (IT) projects and a enlargement of tellurian resources in a IT sector.
Held as partial of a 2014 Asian-Oceania Computing Industry Organisation (ASOCIO) ICT Summit, a event, that is now in a eighth year, captivated scarcely 100 member from 47 Japanese businesses, a largest array given commencement in 2007.
It was also attended by companies from a Republic of Korea, Israel, Malaysia and Singapore.
According to a news by Japan’s Information-Technology Promotion Agency, Viet Nam is Japan’s second largest ICT partner and a many adored partner among Japanese businesses, pronounced 31.5 per cent of those questioned.
In offer to informative similarities, abounding and inexpensive work also creates Viet Nam appealing to Japanese investors, a news states.
Nguyen Doan Hung, conduct of a Viet Nam-Japan Information Technology Cooperation Club, pronounced a Japanese Government and IT groups designed to lift out a array of vast projects by 2020, requiring a vast learned workforce. This was seen as a auspicious eventuality for Viet Nam, he added.
In sequence to partner with Japan on vast projects, Junko Kawauchi, Vice President in assign of Global Affairs of a Japan Information Technology and Services Industry Association (JISA), stressed a need for Vietnamese businesses to boost a peculiarity of crew and lift their scale of operations.
Further, Japanese businesses visited a executive city of Da Nang yesterday to attend a discussion on Viet Nam-Japan IT cooperation.
In a apart enlargement on Wednesday, Viet Nam’s FPT Corporation and Fujitsu Limited of Japan pronounced they would co-operate in using a hearing exam of Fujitsu’s food and rural cloud service, famous as a Akisai Cloud.
The companies pronounced that a aim of a partnership was to support restructuring in a rural zone to make Viet Nam a world-class rural producer, formed on innovative technologies.
Viet Nam, DPRK pointer atmosphere ride deal
Viet Nam and a Democratic People’s Republic of Korea (DPRK) have sealed an aviation ride agreement to concede airlines from both countries to dig deeper into any countries’ aviation markets.
The agreement was sealed in Ha Noi on Thursday by Viet Nam ‘s Deputy Minister of Transport Nguyen Van Cong and DPRK Deputy Minister of Foreign Trade Ri Myong San.
Comprising 23 articles and one appendix, a agreement transposed a one sealed on Nov 14, 1977.
The new agreement is approaching to accommodate a transport final of both peoples, contributing to a normal loyalty between a dual countries.
Earlier, member from a Ministry of Transport and DPRK Ministry of Foreign Trade reason a assembly to plead how to offer urge common team-work on aviation issues in a future.
Can Tho to ascent industrial parks
The Cuu Long (Mekong) Delta city of Can Tho skeleton to lift and ascent a array of industrial parks, Head of a Management Board of Can Tho Industrial Park Vo Thanh Hung pronounced on Thursday.
The master devise aims to boost Can Tho’s sum industrial area to 2.267ha and pave a approach for Can Tho to spin an industrial heart in a Cuu Long (Mekong) Delta segment by 2025.
Thanks to a city’s efforts to exercise a array of special policies on executive procedures, favoured credit, and training workers, collateral investment in industrial clusters has reached US$1.91 billion so distant in 2014, a $50 million boost compared to a same duration final year.
To date, Can Tho is home to 214 investment projects, including 191 domestic and 23 foreign-invested projects.
During a initial 10 months of this year, income from enterprises doing in a city’s industrial parks totalled $1.1 billion. Notably, unfamiliar invested-companies posted increases of 10 per cent and 13 per cent in turnover and exports, respectively, compared to a same duration final year.
Viet Nam attends amicable entrepreneurship forum
Vietnamese commission attended a ASEAN Forum on Social Entrepreneurship in Singapore on Thursday to learn lessons offering from Singapore’s amicable craving model, as good as other ASEAN member states.
Over 80 routine makers and member of non-governmental organisations from a 10 ASEAN member states discussed a purpose of amicable entrepreneurship and talked about putting in place best practices and a corner prophesy for a enlargement of amicable enterprises.
At a event, a conduct of a Vietnamese commission delivered a debate on a stream state of amicable entrepreneurship in Viet Nam, and presented an overview of a proposals for a State supervision complement to organize amicable enterprises and assistance them grow further.
Singaporean Minister for Social and Family Development Chan Chun Sing endorsed a augmenting approval of amicable entrepreneurship as a intensity resolution to governmental needs, along with a efforts undertaken by a Government, a private zone and giveaway organisations.
FPT IS wins $1.4m Philippine contract
FPT Information System Company (FPT IS) kick 6 ubiquitous contractors to win a US$1.4-million bid to yield a supervision complement for complaints and denunciations for a Philippine government.
The agreement was sealed on Oct 27 in Manila.
The proposal is partial of a financial support package given by a United States to a Philippines. The package aims to lift a personal income of a Filipino people, boost output and open investment, lift taxation revenues and forestall corruption.
The Vietnamese organisation will co-operate with a Philippine organisation to build a database of complaints and denunciations, and speed adult their processes. The supervision complement is approaching to be implemented in 10 months in a country’s organisation agencies.
This is a initial time that FPT IS has won a bid in this market, lifting a sum array of tenders this year to 14, value a sum of $26.4 million.
In November, a organisation will open a deputy bureau in a Philippines.
FPT IS Global General Director Le Anh Tuan pronounced that a Philippines was one of a categorical markets and a association approaching to get some-more contracts there in 2015.
Earlier, a association announced on Sep 9 that it would yield an integrated taxation administration complement for Bangladesh’s Income Tax Department.
Viettel builds 3G network in Tanzania
The troops telecom organisation Viettel now started building a third-generation (3G) mobile network in Tanzania.
The network is approaching to spin operational in Jul 2015 after a 13,000-km fibre-optic wire broadband complement is completed, according to Tanzanian Minister of Communication, Science and Technology Jan Makamba.
By 2016, Viettel’s services are hoped to cover around 4,000 internal villages now but a Internet.
Besides, a organisation will offer low-cost smartphones and giveaway Internet entrance for internal schools, hospitals and offices.
Tanzania’s mobile telecoms zone has grown fast over a past decade. The second largest economy in East Africa now has about 29 million mobile subscribers of several operators including Zantel, Vodacom Tanzania and Tigo Tanzania.
In a beside nation of Mozambique, Movitel, a corner try between Viettel and a internal firm, has operated successfully with 5 million subscribers, apropos a heading mobile use provider in a country.
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
Article source: http://english.vietnamnet.vn/fms/business/115571/business-in-brief-4-11.html