The recent signing of the EU-Vietnam Free Trade Agreement (EVFTA) has opened the door wider for Vietnamese farm produce to make inroads into the more than 500-million people strong market. According to Chairman of the Vietnam Pepper Association Nguyen Nam Hai, Vietnam exports about 40,000 tonnes of pepper to the EU each year, meeting 53 percent of the market’s demand. Along with pepper, other agricultural products are gaining foothold in EU countries such as fruits, vegetables and cashew nuts. Nguyen Quoc Toan, Director of the Agro Processing and Market Development Authority (Agrotrade) under the Ministry of Agricultural and Rural Development, said the EU is one of the three biggest importers of Vietnamese farm produce. In the first eight months of 2019, the EU market accounted for more than 12 percent of Vietnam’s agricultural exports, he noted. Deputy head of the European-American Market Department under the Ministry of Industry and Trade Tran Ngoc Quan said the EU is … [Read more...] about Door open wide for VN farm produce export to Europe
Experts warn that if state-owned enterprises (SOEs) make outward investments, the state would lose capital. Reports all show state-owned economic groups and general corporations have bad business performance and many of them have fallen into deadlock. VietinBank opens its branch in Laos The low capability of SOEs is blamed on the lack of a mechanism that promotes competition. In order to encourage competition, an economist, at a recent workshop on SOE reform, suggested a policy which forces SOEs to make outward investments. When doing this, SOEs will have to compete with rivals in the international market. If enterprises can export their products to choosy markets, this means that they have high competitive capability. When doing this, SOEs will have to compete with rivals in the international market. If enterprises can export their products to choosy markets, this means that they have high competitive capability. The economist cited China as an example. The country has … [Read more...] about Should SOEs make outward investments?
A series of landslides have been reported along a river in Nam Can District in the Mekong Delta Province of Ca Mau over the past few days, causing damage worth hundreds of millions of dong. Mekong Delta losing land from subsidence, landslides Ca Mau needs to move 5,700 houses out of landslide spots Local authorities help residents in Nam Can District to relocate. — VNA/VNS Photo The Anh The latest landslide was reported at 4am on Monday in Nam Can Town and affected eight houses. One of them was completely destroyed. Total losses are estimated at VND800 million (US$34,000). Local authorities are helping local residents to relocate to safer areas. Landslides on Saturday and Sunday caused losses of more than VND470 million ($20,000). Authorities have warned that more landslides can be expected during the upcoming rainy season. VNS … [Read more...] about Landslides cause huge losses in Ca Mau
Doing Business indicators have been improving significantly since implementing Resolution 19 Strengthening economic growth Improving the business environment and strengthening economic growth have been the top priorities of the government in recent years. The Vietnamese government has taken many actions, noticeably the issuance of different versions of Resolution 19 on improving the business environment and national competitiveness. This is an effort to create a strategic institutional transformation with the main focuses on regulatory and administrative reforms and the improvement of the business environment. “Resolution 19 sets out the very first improvement goals for business environment and national competitiveness in terms of global rankings, as well as develops our policy-making and policy implementation in line with international practices,” Deputy Minister of the Planning and Investment Nguyen Van Trung emphasised. “This is the new approach of the … [Read more...] about Resolution 19: improving business environment but a long way to go
Kido to conduct an M&A deal in food sector This was announced by Tran Le Nguyen, the general director of Kido. Nguyen added that in 2018, Kido expects to achieve a breakthrough in business results with the aim to acquire VND12 trillion ($527.68 million) in revenue and VND800 billion ($35.2 million) in pre-tax profit, signifying increases of 68 and 40 per cent. According to Nguyen, this year, the company estimated to earn an additional VND2.5 trillion ($109.9 million) in revenue from instant noodles, beverages, and sauces. Especially, in the instant noodle segment, Kido will co-operate with an unidentified Thai firmto expand manufacturing and distributing operations. Besides, Kido will partner up with another Thai firm to establish a joint venture company specialising in manufacturing tea and drinks mixed with milk. Furthermore, in order to realise these targets, Kido spent massive efforts to integrate Vocarimex and Tuong An, which had different corporate cultures as well as … [Read more...] about Kido acquires manufacturing and processing firm