The price of Cao Phong orange, a fruit of the northern province of Hoa Binh, has almost doubled after it was registered for GI protection several years ago. — VNA/VNS Photo Viet Nam has so far protected 69 products with geographical indications (GI) and six foreign ones. Over the past 10 years, the number of protected GIs has increased by 3.5 times. The figures were released by Director of the Ministry of Science and Technology’s National Office of Intellectual Property (NOIP) Dinh Huu Phi at a seminar entitled ‘Information and communication on intellectual property’, held in Ha Noi on Tuesday. Phi said there were 34 provinces and cities with protected GIs. Some 47 per cent of the products are fruits, 23 per cent are cash crops and forestry products, 12 per cent are seafood, 8 per cent are rice and the rest are other products. There are also five non-food items including Hue conical hat, Tien Lang pipe tobacco, Vinh Bao pipe tobacco, Nga Son papirus and Yen Tu … [Read more...] about Viet Nam protects 75 domestic and foreign products
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Credit growth moderation positive for Viet Nam’s banks: Moody’s
Lower credit growth encourages banks to focus on borrowers of better quality. — VNA/VNS PhotoViet Nam News HÀ NỘI — A moderation in Vietnamese banks’ credit growth is a positive for their asset quality and capitalisation, Moody’s Investors Service said in a recent report. The rating agency cited data from the State Bank of Việt Nam (SBV) that showed Vietnamese banks’ total credit grew 14 per cent in 2018, the lowest growth rate since 2014. The slower growth is primarily due to the central bank’s tightening of credit growth limits for banks. According to Moody’s, tighter credit can lead to rising problem loan ratios, reflecting the seasoning of banks’ loan portfolios. However, lower credit growth encourages banks to focus on borrowers of better quality, which will improve asset quality in the long term. The moderation in credit growth will also lower pressure on capital, especially for State-owned banks, Moody’s … [Read more...] about Credit growth moderation positive for Viet Nam’s banks: Moody’s
Viet Nam’s tra fish exports exceed $2b for the first time
Viet Nam’s tra fish export value has exceeded US$2 billion for the first time, with the figure hitting $2.05 billion in the first 11 months of this year. — VNA/VNS Photo Viet Nam’s tra fish export value has exceeded US$2 billion for the first time, with the figure hitting $2.05 billion in the first 11 months of this year, a year-on-year increase of 27.4 per cent, according to the General Department of Customs. Duong Nghia Quoc, chairman of the Viet Nam Pangasius Association, said the total export value of tra fish (pangasius) this year is expected to reach a record high at about $2.2 billion. In October and November, the consumption of tra fish in the US increased about 40 per cent due to a reduction in anti-dumping duties on Vietnamese tra fish, while tra fish demand recovered in the EU and China maintained good consumption. To meet demand, Mekong Delta provinces should maintain tra fish output of 1.3-1.5 million tonnes per year, Quoc said. They should focus on … [Read more...] about Viet Nam’s tra fish exports exceed $2b for the first time
French businesses find Viet Nam attractive destination
French Prime Minister Edouard Philippe, along with economic officials, talk with Vietnamese start-ups. — VNA/VNS Photo Viet Nam, with its impressive growth, has become an attractive destination for French investors, said participants at the France-Viet Nam business forum (HCM City French Tech), which took place in HCM City on Sunday. Henri-Charles Claude, President of the French Chamber of Commerce and Industry in Viet Nam (CCIFV), highlighted the significant growth of Viet Nam in recent years, which he said creates big opportunities for foreign investors, including those from France. According to Claude, Viet Nam and France have recorded positive steps in economic co-operation but are yet to fully tap their potential. He named a number of fields for stronger bilateral engagement, like infrastructure, digital technology, health, culture, and education. Jean-Jacques Bouflet, Vice Chairman of the European Chamber of Commerce in Viet Nam (Eurocham), said Viet Nam is among … [Read more...] about French businesses find Viet Nam attractive destination
Viet Nam signs deal with EU to fight illegal logging
Rangers patrolling the natural forest areas of Sơn Phú Commune, Na Hang District of the northern mountainous province Tuyên Quang. — VNA/VNS PhotoViet Nam News BRUSSELS — Prime Minister Nguyễn Xuân Phúc witnessed the signing of the Forest Law Enforcement Governance and Trade Voluntary Partnership Agreement (FLEGT-VPA) between Việt Nam and the European Union which aims to fight illegal logging, in Brussels yesterday on the sidelines of the 12th Asia-Europe Meeting (ASEM) Summit. Vietnamese Minister of Agriculture and Rural Development Nguyễn Xuân Cường, Austrian Prime Minister Sebastian Kurz, and Vice President of the European Commission Federica Mogherini signed the document. The core of the deal is the Việt Nam Timber Legality Assurance System (VNTLAS), which ensures that wood and timber products exported from Việt Nam to the EU have legal origins. The issuance of FLEGT licences is only applicable … [Read more...] about Viet Nam signs deal with EU to fight illegal logging
Xiaomi’s smart-home plans for Viet Nam
Xiaomi’s new robot vacuum cleaner, which costs $320. VNS Photo Viet Nam News HCM CITY — Xiaomi is the largest consumer Internet of Things platform in the world, the company’s Việt Nam country manager, Jack Yung, said. Speaking at the opening of a showcase flat, Mi Apartment, in HCM City, he said: “Xiaomi is a company unlike any other. We are a company founded on the notion that we can deliver amazing products at honest prices to everyone, and we have created a comprehensive suite of products that revolve around our smartphones, including smart hardware and lifestyle products. “The Mi Apartment clearly demonstrates for guests how you can work, live and play in an eco-system that puts together all these products to deliver the convenience of a smart home.” Using the latest Mi 8 smartphone as a hub, the apartment features a robot vacuum cleaner, air purifier and water purifier to keep the family breathing and drinking clean … [Read more...] about Xiaomi’s smart-home plans for Viet Nam
Viet Nam needs reforms for new FDI strategy
Viet Nam needs breakthrough reforms in the national foreign direct investment (FDI) approach to sustain the country’s rapid economic development, competitiveness and inclusive prosperity. – VNA/VNS Photo Viet Nam needs breakthrough reforms in the national foreign direct investment (FDI) approach to sustain the country’s rapid economic development, competitiveness and inclusive prosperity, according to a report launched by the International Finance Corporation (IFC) and the Ministry of Planning and Investment (MPI) yesterday. The Recommendations on Viet Nam Next Generation FDI Strategy and Vision 2020-30 report says Viet Nam has been an attractive destination for FDI for about 30 years. FDI capital has become a major driver of Viet Nam’s economic development and international integration, creating large numbers of jobs, diversifying exports, improving technology and facilitating economic restructuring. In the last decade, annual FDI inflows shot up by a factor … [Read more...] about Viet Nam needs reforms for new FDI strategy
Thailand’s SCG says Viet Nam its new manufacturing hub
Viet Nam will become its second manufacturing hub after Thailand, South-east Asian conglomerate SCG has announced. — VNS Photo Viet Nam will become its second manufacturing hub after Thailand, South-east Asian conglomerate SCG has announced. On the sidelines of an interaction with the media in HCM City, Marty Lin Mahaplerkpong, vice president of SCG Vietnam Company Ltd, told Viet Nam News: “It means that we will invest more in the Vietnamese market.” SCG, which has been in Viet Nam since 1992, had 22 operations with more than 8,600 employees in this country as of the first quarter of last year. Its core businesses are cement-building materials, chemicals and packaging. At the beginning of this year it invested $5.4 billion in its flagship project, Long Son Petrochemicals. The Thai company has consistently undertaken community programmes as part of its corporate social responsibility. They include “sharing the dream playground” under which it installed … [Read more...] about Thailand’s SCG says Viet Nam its new manufacturing hub
Viet Nam climbs up on UL safety index
Representatives of UL speak about the latest safety index in Việt Nam.-- VNS Photo Viet Nam is becoming a safer nation relative to many others, and once again improved its safety ranking in 2017, according to the latest report released by Underwriters Laboratories (UL), a global safety science company. In the latest UL Safety Index, Viet Nam moved up 11 places to 76th. The overall injury rates in the country decreased sharply last year, with drowning deaths falling by 15 per cent, poisoning by 14 per cent and transport deaths by 8 per cent, according to the report. “Our mission is to help advance safe living and working environments for people in Việt Nam and around the world, and contribute to the discourse on public health and safety,” David Wroth, director, Data Science– UL, said. “The findings from the study this year illustrate that Việt Nam is performing better in its overall efforts to improve safety.” The index attributes the … [Read more...] about Viet Nam climbs up on UL safety index
Viet Nam imports flowers worth $18m for Tet
Red apricot blossom from Taiwan. Viet Nam imported flowers and ornamental plants worth US$18 million for the Lunar New Year 2018. — File Photo Viet Nam imported flowers and ornamental plants worth US$18 million from December 1, 2017, to January 31, 2018, for the Lunar New Year. This is a sharp increase of 46.8 per cent against last year, according to the General Department of Customs. The countries witnessing a high surge in export value of these products to Viet Nam included the Netherlands (up 76 per cent to $5 million compared to before Tet last year) and China (up 80.8 per cent to $3.6 million). This year’s imported products included fresh flowers and living ornamental plants reaching $7.9 million, accounting for 43.8 per cent of the total import value. They included orchids, rhododendron, dumb cane plants and cedrus bonsai trees. Of these, flowers and plants worth $3.3 million, including orchids reaching over $2 million, were imported from mainland China, while the … [Read more...] about Viet Nam imports flowers worth $18m for Tet