(VEN) - Following decreases in volume and value in January, fertilizer exports have resumed their growth. In the first seven months, exports to markets that saw increases in volume accounted for 66.6 percent of the total, while exports to markets that saw decreases accounted for 33.3 percent. Binh Dien Fertilizer Joint Stock Company’s products have been exported to Cambodia According to the Ministry of Industry and Trade’s Vietnam Industry and Trade Information Center, Vietnam exported 77,700 tonnes of fertilizer in July 2018, up 18.8 percent in volume and 29.7 percent in value compared with July 2017. In the first seven months, exports reached 554,800 tonnes in volume and US$180.8 million in value, up 3.2 percent and 20.5 percent, respectively, compared with the same period last year. Southeast Asian countries are major importers of Vietnamese fertilizer. In the first seven months of this year, Vietnam exported 376,000 tonnes worth US$118.1 million … [Read more...] about Fertilizer export growth resumes
Japan vietnam fertilizer company
BUSINESS NEWS IN BRIEF 2/9
Agro-forestry-fishery exports generate 25.7 billion USD in 8 months The agro-forestry-fishery sector raked in 3.13 billion USD from exports in August, raising the total value in the first eight months of this year to 25.7 billion USD, up 7.3 percent year-on-year. According to the Ministry of Agriculture and Rural Development, the best performers in the period included rice, fruit and vegetables, key forestry products and seafood. Exports to major markets like the Association of Southeast Asian Nations (ASEAN), the Republic of Korea (RoK), China, the US and Japan increased significantly over the past eight months. The country exported about 4.4 million tonnes of rice worth 2.2 million USD between January-August, up 6.8 percent in volume and 22.1 percent in value from the same period last year. In August alone, 441,000 tonnes valued at 209 million USD was shipped abroad. China remained Vietnam’s largest rice importer, making up 24.7 percent of the market … [Read more...] about BUSINESS NEWS IN BRIEF 2/9
Sojitz continues its M&A spending spree in Vietnam
Japan’s Sojitz Corporation has become the newest aggressive buyer in Vietnam’s mergers and acquisitions scene, with a planned stake acquisition in PAN Group, reflecting Japanese investors’ quest to take over major Vietnamese companies before their Asian peers can. Sojitz continues its M&A spending spree in Vietnam, source: cafef.vn PAN Group last week revealed its plan to offload 14.86 million shares, equal to an 11 per cent stake, to Sojitz Corporation. If the plan gets the green light from shareholders, Sojitz will become a major shareholder and strategic partner of PAN Group. Under the plan, PAN Group proposed a minimum selling price of VND55,000 ($2.43) a share. The transaction is expected to be completed in either the third or the fourth quarter. Established in 1998, PAN Group has become one of the leading agricultural companies in Vietnam, with total assets of VND7.6 trillion ($336.3 million). Meanwhile, Sojitz has established a strong presence in … [Read more...] about Sojitz continues its M&A spending spree in Vietnam
Real estate fertile ground for foreign investors
There has been something of a real estate “fever” in recent times at the Thu Thiem Urban Area, the proposed new CBD and mixed-used urban area in Ho Chi Minh City’s District 2 and which is set to become the largest inner-city development in Southeast Asia. Investment into the urban area has been strong over the last few years, with a host of both local and foreign real estate developers seizing the opportunities on offer. Vietnam’s real estate market attracted $5.54 billion in FDI in the first half of this year, accounting for 27.25 per cent of total investment into the country, according to the General Statistics Office (GSO). 2018 marks ten years since the last real estate downturn and nearly five years of recovery. “Given that monetary policies are expected to stay neutral-to-accommodative to support growth when FDI inflows in the hundreds of millions of dollars are poised to enter the real estate market, the market is expected to continue stabilizing … [Read more...] about Real estate fertile ground for foreign investors
Manufacturing opportunities rising in Vietnam: Savills Vietnam
Manufacturing opportunities rising in Vietnam: Savills VietnamBy Thanh Thom A bird's eye view of the industrial park VSIP-I located in Binh Duong Province. According to Savills Vietnam, the local industrial real estate sector is forecast to boast a bright future - PHOTO: VSIP HCMC – Growing foreign direct investment (FDI) and a move up the value chain mean Vietnam’s industrial real estate sector has a bright future, according to real estate services provider Savills Vietnam. “This is very fertile ground,” said Troy Griffiths, Savills deputy managing director for Vietnam. “We see a lot of FDI in manufacturing from Japan, South Korea, Singapore and Thailand.” Vietnam attracted FDI flows of US$35.6 billion last year, up a hefty 44.4% from the previous year, with Japan contributing the largest, at US$9.11 billion. FDI flows in the manufacturing and processing industry made up a whopping 44.2% of the total. Asian manufacturers want to take … [Read more...] about Manufacturing opportunities rising in Vietnam: Savills Vietnam
Vietnam textile firm bets on eco-friendly products
For price conscious Vietnamese consumers, an organic product more expensive than its normal version is not an attractive option, but one firm has decided to be persistent. The Phong Phu Textile and Garment Company introduced its made-in-Vietnam eco-friendly towel brand last December, attracting media attention as one of the first firms in the country to produce an organic textile product. The Mollis Organic towels are made from 100 percent organic cotton. No genetically modified organism, chemical fertilizer or pesticides are used in the making of this product, the company asserts. The company would strive to bring organic products to its customers although their production costs are high and profits uncertain, Pham Xuan Trinh, CEO of the Phong Phu Textile and Garment Company, told VnExpres International. The company prices its organic towels from VND60,000-250,000 ($2.62-$10.91) depending on the size, about 20 percent higher than conventional products, while … [Read more...] about Vietnam textile firm bets on eco-friendly products
Tighter control over waste import into Vietnam urged
The Vietnamese government has urged tightened controls over waste imports in the context of the flooding of abandoned waste containers at local sea ports. A large number of abandoned waste containers at Vietnamese seaports The ministries of Finance, Natural Resources and Environment, Industry and Trade and Transport have been asked to closely supervise waste imports and trading activities. More than 3,000 containers of waste have been abandoned for more than 90 days at seaports in Vietnam. According to Sai Gon Port’s customs board, the abandoned waste has affected the port’s operation, meanwhile, the costs for destroying the waste is very expensive. A representative from a consumer goods company in HCM City said that “We want to import goods, but now Saigon Port is full of waste, so we have to wait”. Nguyen Nang Toan, director of the Sai Gon Newport Company’s logistics centre said that China halted the import of 24 kinds of waste from January 1. … [Read more...] about Tighter control over waste import into Vietnam urged
Producers want fertilizer to be subject to VAT
Producers want fertilizer to be subject to VAT A farmer is seen working on rice field in the Mekong Delta region - PHOTO: TL HCMC - Fertilizer producers have petitioned lawmakers to add fertilizer to the list of products subject to value added tax (VAT), reports the website of the Ministry of Industry and Trade. The Fertilizer Association of Vietnam (FAV), the Vietnam Farmers’ Union (VNFU) and the Vietnam Chamber of Commerce and Industry have also suggested imposing a VAT rate of 5% on fertilizer as earlier. At a seminar on tax policies for promoting production and business held by Tuoi Tre newspaper on June 2, attendees said since fertilizer was free from VAT, domestic fertilizer producers had not been entitled to VAT refunds for input materials, which had sent fertilizer prices rising 5-8%. The situation has paved the way for foreign fertilizer to enter the local market more easily as it is not subject to VAT either. Vietnam imported 3.7 million tons of fertilizer in … [Read more...] about Producers want fertilizer to be subject to VAT
Vietnam, Kuwait enhance economic cooperation
(VEN) - Vietnam Economic News’ My Phung spoke with Khaled Falah Al-Mutairi, Kuwaiti Consul General in Ho Chi Minh City, about achievements in bilateral cooperation especially in economic ties between Kuwait and Vietnam, after 42 years of diplomatic relations. What are major achievements in bilateral cooperation between Kuwait and Vietnam after more than four decades of diplomatic relations? Kuwait and Vietnam established diplomatic relations in 1976 and we were one of the first countries to establish the relationship with your country after the unification. Since then, our bilateral relationship has been unceasingly developed and continued to make progress and boom at all levels. We are proud that Kuwait is the first country in the Gulf Region where Vietnam established its embassy in 2003. Kuwait also opened its Embassy in Hanoi and the Consulate General in Ho Chi Minh City in 2007. In May 2016, His Highness the Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabah … [Read more...] about Vietnam, Kuwait enhance economic cooperation
Local firm to build fertilizer factory in Cambodia
Local firm to build fertilizer factory in CambodiaBy Quoc Hung and Hong Phuc - The Saigon Times DailyHCMC, HANOI - Nam Sao International Corp. plans to develop a large fertilizer factory in Cambodia through cooperation with a Cambodian partner, the corporation said.Nam Sao International signed a contract with Cambodia’s Investment and Development Corp. (IDCC) to develop The US$65 million project that is a 90:10 joint venture and whose work will start in the fourth quarter is scheduled for completion in 20 months.The factory will have the capacity to supply 350,000 tons of fertilizer of various types per year during the first phase and then 500,000 tons per year for the Cambodian market to help stabilize future market prices, according to Nam Sao International.Company chairman and general director Tran Van Muoi said in a statement that this was a major project which the governments of both countries had entrusted to the company and would include three modern production lines … [Read more...] about Local firm to build fertilizer factory in Cambodia