Healthy pigs are now being sold at a cheaper rate, putting pressure on the entire industry Pham Van Luong, a pig feed salesman in Hai Hau district of the northern province of Nam Dinh, said that his family previously sold an average of 20 tonnes of rice bran per month. Since the outbreak of African swine fever (ASF), over the past three months they have managed to sell just five or six tonnes of animal feed per month. “I sell animal feed and bran on credit to farmers. However, for some months now, pigs have been infected and culled, and farmers have no money to pay me. Currently, I am owed nearly VND2 billion ($87,000),” said Luong. Dao Van Bac, director of BB Sun Vietnam Co., Ltd. which manufactures animal feed in the northern province of Hai Duong, said, “While our company supplied around 2,000 tonnes of animal feed monthly to the market before ASF, it has reduced to 1,200-1,400 tonnes now. We have already decreased the price by VND5,000-10,000 ($0.21-0.43) for a … [Read more...] about Farms under threat as ASF fails to ease
Farm produce delivery
BUSINESS IN BRIEF 5/7
1H FDI disbursement at $8.37 bn FDI projects were estimated to have disbursed $8.37 billion in the first half of this year, up 8.4 per cent year-on-year. Vietnam had 25,953 valid projects as at the end of the first half, with total registered capital of $331.24 billion. Total disbursed FDI capital was estimated at $180.74 billion, or 54.6 per cent of total registered capital in valid projects. Foreign investors have invested in 19 out of the 21 sectors in Vietnam to date, in which processing and manufacturing accounted for the highest proportion, with $189.13 billion, or 57.1 per cent of total investment capital, followed by real estate with $56.2 billion, or nearly 17 per cent, and the production and distribution of electricity, water and gas, with $21.92 billion, or 6.6 per cent. Valid projects come from 128 countries and territories. South Korea ranks first, with total registered capital of $61.67 billion, accounting for 18.6 per cent of the total. Japan ranked second, with $55.45 … [Read more...] about BUSINESS IN BRIEF 5/7
BUSINESS IN BRIEF 27/6
Industrial production expands 18 percent in Tien Giang Workers at a seafood processing factory at the My Tho Industrial Park of Tien Giang province The Mekong Delta province of Tien Giang saw a record yearly growth of 18 percent in industrial production value in the first half of this year, to nearly 51.1 trillion VND (2.245 billion USD), according to Director of the province’s Department of Industry and Trade Ngo Van Tuan. The director said most major industries of the province such as food processing, beverages, garment making, shoes and metal production posted good growth compared to 2017. He noted that foreign-invested enterprises operating in key local industrial parks were the driving force behind the strong growth. Tuan cited as an example Heineken Vietnam Brewery Tien Giang whose beer output rose by 39.4 percent year on year. The local shoe making industry enjoyed a 25 percent growth with many orders from foreign partners, especially from China. The for-export tra … [Read more...] about BUSINESS IN BRIEF 27/6
BUSINESS IN BRIEF 22/6
VN Central Bank asks banks to rectify hotline issues The State Bank of Viet Nam (SBV) has asked banks to provide enough switchboard operators and improve technical infrastructure to process complaints efficiently. The SBV said it found through monitoring that the hotlines of some banks were not operating effectively, making it very difficult for customers and cardholders to request assistance in emergency cases. This has been a cause for concern and has been reported in different forms of mass media. In order to ensure the quality of services, the State Bank has required banks to address the issue to promptly receive and handle the inspection and complaints of customers. Banks must take the initiative in explaining and promptly responding to opinions expressed on mass media regarding the quality of card payment services to avoid pulling down consumer trust in the quality of payment services offered by banks and the development of non-cash payment regulations by the … [Read more...] about BUSINESS IN BRIEF 22/6
BUSINESS IN BRIEF 19/6
Nawaplastic still hungry for Binh Minh Plastic shares Owning a dominant stake in Binh Minh Plastic (BMP) did not quench Nawaplastic Industry Co., Ltd. (Nawaplastic)’s thirst for BMP shares. Most recently, Nawaplastic registered to buy an additional 1.17 million BMP shares to increase its holding to 44.525 million shares, equalling 54.39 per cent of the charter capital. The transaction is expected to occur between June18 and July16. The registered share volume is the remaining part of the 2.86 million shares that Nawaplastic failed to buy during previous transactions. Notably, Nawaplastic registered to buy 2.86 million BMP shares during transactions on May 14-June 12, however, the Thai investor ended up buying 1.69 million of the registered shares as BMP did not match Nawaplastic’s target price. BMP manufactures and trades civil and industrial products made of plastic and rubber. The company also designs, manufactures, and trades in plastic moulds for the casting industry; … [Read more...] about BUSINESS IN BRIEF 19/6
BUSINESS IN BRIEF 16/6
Vietnam targets US$200 bn garment, textile exports by 2035 With import tax cuts presented by free trade agreements (FTAs) to which, Vietnam is a member, increasing automation in production and quite favourable factors in the world market, the country’s garment and textile exports are forecast to hit US$200 billion by 2035. Vu Duc Giang, president of Vietnam Textile and Apparel Association (VITAS), says the US remains Vietnam’s largest garment importer, trailed by the EU and member countries of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP). Giang optimistically told the Japanese and Vietnamese media that the garment sector is likely to earn US$34.5 billion from exports this year. It is expected that after the CPTPP comes into effect in August 2018 and export taxes drop to zero, the country’s garment exports will surge by 3% compared to the estimated figure because Canada, Australia, Mexico, and New Zealand, major importers, currently import about … [Read more...] about BUSINESS IN BRIEF 16/6
BUSINESS IN BRIEF 22/4
Vietnam to attend China International Import Exposition Vietnam will display various kinds of products such as farm produce, processed food, consumer products and trade services in 60 pavilions at the China International Import Exposition (CIIE) 2018 which is scheduled to take place in Shanghai city from November 5-10. The Vietnam Trade Promotion Agency (VTPA) under the Ministry of Industry and Trade introduced the event during a press conference in Ho Chi Minh City on April 13. VTPA Director Vu Ba Phu said the expo will create an excellent opportunity for Vietnamese businesses to make inroads into the market, helping narrow the trade gap with China, as well as expand cooperation with Chinese partners and hundreds of other participating economies. To boost exports to China, businesses need to increase the quality of products, build brand names, and improve packaging and designing. At the same time, they need to update information about the market, import-export policies, and … [Read more...] about BUSINESS IN BRIEF 22/4
BUSINESS IN BRIEF 16/4
Poultry breeding heats up again General manager CP Vietnam Montri Suwanposri said that Vietnam’s poultry prices are closer with prices of other countries; accordingly, CP Vietnam will sell chicken to Japan after finishing paper works as per the partners’ requirement. Montri Suwanposri added that C.P in Thailand is the leading firm exporting chicken meat to Japan for years with the quantity of five million a week. There has been an increase in poutry meat orders lately because many countries banned import chicken from Brazil , an exporter of chicken to Japan, after food safety scandal. These countries switched to import chicken meat from Asian countries especially Thailand. At present, prices of poultry in hi-tech farms in Vietnam is similar to chicken prices in other Asian countries, accordingly, C.P Thailand will share its orders with Vietnamese firms and C.P Vietnam has planned to sell chicken meat to Japan in 2019. In 2017, Vietnam’s livestock sector marked its … [Read more...] about BUSINESS IN BRIEF 16/4
BUSINESS IN BRIEF 4/4
Hapro and Protrade Corp. report successful IPOs Both state-owned Hanoi Trade Corporation (Hapro) and Binh Duong Producing and Trading Goods Corporation (Protrade Corp.), the owners of several golden land plots and industrial parks, conducted successful IPOs. On March 28, Protrade, the third largest state-owned firm in the southern province of Binh Duong, offered 30 million shares for sale, equalling 10 per cent of its stakes, at its IPO with the initial price of VND12,000 ($0.53). As a result, 63 investors joined the auction, four of whom won with the highest bid of VND21,000 and the lowest bid of VND16,600. The average selling price was VND17,474, which was 46 per cent higher than the initial price. After the IPO, the state’s holding in Protrade decreased to 50 per cent, equalling 150 million shares. Besides, Protrade Corp. will put 119.7 million shares, equalling 39.91 per cent of the stakes, on sale to strategic investors. Previously, Protrade Corp. also published the … [Read more...] about BUSINESS IN BRIEF 4/4
Gov’t figures out key tasks for 2018 (part I)
The following is the first part: STT Tasks Line ministries Coordinators Deadlines I Enhancing macro-economic stability, controlling inflation, ensuring major balances of the economy, accelerating fast and sustainable growth 1 Comprehensively and flexibly regulate monetary tools to stabilize the monetary market, contributing to control inflation and create favorable conditions for credit organizations to reduce lending rates The State Bank of Viet Nam … [Read more...] about Gov’t figures out key tasks for 2018 (part I)