Vietnam imports 70% of its agro machines By Tu Phong - The Saigon Times Daily HCMC - Nearly 70% of agricultural machines in Vietnam are imported while the nation can produce better-quality machines, said Nguyen Van Vu, general director of Vikyno & Vinappro Co. Many traders have also imported second-hand Japanese products, selling them on the market for 50% less than local machine prices. "Local farmers still like Japanese machines as they are cheap and because they believe that Japanese products are good quality. That is why imported commodities have overwhelmed the market," Vu explained. Meanwhile, the price of Vietnam-made machines is higher than imported products as local enterprises have to import nearly 70% of the components required to build them, Vu added. The nation has issued two decisions to provide lending rate subsidies over 24 months for farmers to buy locally-made agricultural equipment. However, few farmers have accessed the loans, as the subsidy term is too short, … [Read more...] about Vietnam imports 70% of its agro machines
Why agricultural subsidies are good
VietNamNet Bridge – The voice of the farmers does not have a rightful place in policies and economic development orientations. Inequality in giving the State's priority and support for the agricultural sector compared with other sectors still exists, commented VietNamNet’s readers. What VN has after 24 years as a “rice exporting power”? After publishing the article “What Vietnam gets after 24 years as a rice exporting power?,” there were hundreds of enthusiastic comments from readers have been sent to VietNamNet. We may see this as a good sign, showing that the agricultural sector and farmers have received a lot of attention and sharing. Foretold death Most of readers agreed that the difficulties and barriers for farmers come from all aspects, from production to the market for agricultural products. Reader Cao Tien … [Read more...] about Rescue the rich or the poor?
Stronger production chain for tuna fishing a must Spontaneous and uncoordinated production and obsolete post-harvest technology are the major weaknesses of the tuna fishing industry that needs to be addressed soon. Due to a recent sharp decline in tuna export price, experts have advised more effective measures should be applied to promote the sustainable development of tuna fishing and processing, including a pilot project launched by the Ministry of Agriculture and Rural Development (MARD). Tuna exports have increased rapidly in recent years from US$188.9 million in 2008 to a record high of US$570 million in 2012. However, export value dropped by 10% in 2013, despite volume rising by 30% as export price declined by 40% compared to 2012. Currently, Vietnamese tuna products are exported to 99 markets including the US, Japan, Germany, Italy, Spain, Israel, Canada, Tunisia and Mexico. Vu Dinh Dap, Chairman of the Vietnam Tuna Association, said tuna prices were quite stable before 2011, … [Read more...] about BUSINESS IN BRIEF 24/6
SMEs need more clarity, confidence Small enterprises can succeed if the leaders adopt clear business strategies and show self-confidence, stated Central Institute for Economic Management (CIEM) former director Le Dang Doanh. This was reported by Viet Nam Economic News yesterday. According to data furnished by the General Statistics Office in January 2014, Viet Nam had 6,900 newly-established enterprises, which is a 15.7 per cent increase in the number of enterprises. However, registered capital only reached VND43.7 trillion (US$2.08 billion), an increase of 11.5 per cent as compared to December 2013. The number of newly-established enterprises increased more as compared to the registered capital. Viet Nam had 76,955 newly-established enterprises in 2013, an increase of 10.1 per cent as compared to 2012. However, registered capital only reached VND398.7 trillion ($18.98 billion), a decline of 14.7 per cent as compared to 2012. General Statistics Office General Director Nguyen Bich Lam … [Read more...] about BUSINESS IN BRIEF 12/3
Indonesian President Joko Widodo is heading home after telling U.S. President Barack Obama that Indonesia intends to join the Trans-Pacific Partnership. That went down well at the White House, but there are obstacles to implementation in a country where economic nationalism runs deep. The TPP, agreed between the U.S. and 11 other nations on Oct. 5, goes far beyond typical trade agreements that focus on reducing tariffs, and highlights issues such as stricter safeguards for patents and leveling the playing field for companies that compete with government-backed businesses. “It would be beyond even the most trade liberalist’s point of view in the country,” said Riza Noer Arfani, a researcher at the Center for World Trade Studies at Gadjah Mada University in Yogyakarta, Indonesia. “I’d say that the conditions for the TPP for Indonesia are way too high.” The TPP still needs to be ratified by individual countries before new members can join, a process … [Read more...] about Here’s why Indonesia joining the TPP is easier said than done