Highland strawberry prices bloom
Da Lat’s strawberry growers have benefited from heavy rains during the last two weeks, which have damaged crops and reduced the number of strawberries, causing prices to rise. The rises are forecast to continue.
Traders are buying strawberries at VND15,000 – 17,000 a kilogram, up to three times higher than in the beginning of the year.
At the market, the finest variety was sold at VND50,000 – 60,000 a kilo. The second class variety was sold at VND30,000 – 40,000 a kilo.
Strawberry growers are expected to make profits of VND5 - 6 million per 1,000 square meters a month.
Da Lat strawberry fields cover an area of 200 hectares.
PM okays interest subsidy for needy
Prime Minister Nguyen Tan Dung signed Wednesday a decision to provide interest subsidies for poor people taking loans from the Vietnam Bank for Social Policies.
The interest subsidy will last two years and apply to loans taken between May 1, 2009 and December 31, 2011.
According to the decision, the government will provide a 4 percent interest subsidy on loans with annual interest rates of more than 4 percent and subsidize all interest on loans that have lower interest rates.
Dung has asked local governments to work with the bank’s local branches to provide the interest-subsidized loans for needy people and ensure that they are used for the purposes stated in the loan agreements.
The decision took effect on Wednesday.
Northern port city re-exports frozen food containers
Hai Phong City’s port authorities said Thursday that nearly 400 frozen food containers had been cleared by customs for re-export to other countries.
The containers had been held up in the northern city for the past three days.
The local Customs Bureau Area 3 completed procedures Wednesday to re-export about 60 containers, lowering the backlog at this particular port to around 500, Hai Phong’s customs department said.
Thanh Nien reported Monday that thousands of frozen food containers imported for re-export were stuck at several ports in the northern city, with unconfirmed reports saying importers from other countries were reluctant to accept shipments because of swine flu fears.
An estimated 2,500 frozen food containers are still held up at Hai Phong ports, according to the city’s customs department.
Vinalines urges Can Tho to complete paperwork for projects
Vietnam National Shipping Lines (Vinalines) Thursday asked the Can Tho City People’s Committee to complete documentation for its three projects in the Mekong Delta, the committee said.
Vinalines asked city authorities to finish land rental documents for a 17 hectare area at Cai Cui Port, where the company is preparing for its second stage of a project that will be able to receive two 20,000 DWT ships simultaneously.
The company also urged the city to provide it with a planning certificate and help clear a site for its logistics warehouse project; as well as provide land for the construction of a high-rise building that will serve as a commercial maritime information center.
Vinalines is expected to invest more than VND1.4 trillion (US$78.83 million) in the three projects.
TNT Vietnam expands express services to Cambodia
TNT Vietnam, a provider of express delivery services, Thursday announced the extension of its road service network into the Cambodian capital Phnom Penh.
It would add more than 1,500 kilometers to the existing 6,000- kilometer Asia Road Network (ARN) across Southeast Asia and connecting to China, TNT Vietnam said.
Mark van den Assem, the company’s managing director, said the connection between Vietnam and Cambodia is a “key development” to complement the ARN.
Ministry warning over low sugar supplies due to fallen sugarcane crop
Vietnam may lack enough sugar in August and September, the Ministry of Agriculture and Rural Development warned May 7.
At a conference for sugar farmers and businesses, the ministry said that the country has 40 sugar refineries with a capacity of 106,000 tons of sugar cane a day.
It is estimated that 9.65 million tons of cane would be processed into 915,000 tons of sugar. However, the current crop output will fall by 20 percent compared with the previous sugar crop. Current stocks total 173,600 tons, with 61,000 tons of imported sugar.
With sugar refineries only beginning new production in September, it will take sometime before new stocks appear on the market. Supply may not meet demand in late August and September.
In order to prevent this from happening and subsequent high prices, it is necessary to calculate sugar imports in July to balance supply and demand, the ministry said.
Domestic sugar prices have increased to VND8,800 to 9,000 a kilogram, up VND500 to 700 over March and VND900- 1,700 since the beginning of the year.
Sugar prices are forecast to increase to VND10,200-10,500 a kilogram in May.
Touring secrets of Hanoi
Vietran Tour announced a Thang Long – Hanoi Discovery Tour on May 6.
Joining the tour, visitors will be shown 1000 years of Hanoi’s history and discover the secrets behind traditional festivals, long-standing Vietnamese architecture and culinary delights from around Vietnam.
Tours can be had from four hours up to four days.
Thang Long, now the old quarter of Hanoi, was chosen by Ly Thai To, the founding king of the Ly Dynasty, as the capital of Dai Viet Kingdom (modern day Vietnam) in 1010.
Thang Long means ‘ascending dragon,’ symbolizing the will and thirst for independence of the Vietnamese people after more than one thousand years of Chinese domination.
Hanoi will celebrate its millennium in 2010, with many events planned throughout the year.
Vietnam joins HOFEX 2009
Vietnamese enterprises have joined the 13th Asian International Exhibition of Food & Drink, Hotel, Restaurant & Foodservice Equipment, Supplies & Services (HOFEX 2009) in Hong Kong from May 6 – 9.
There are more than 1,800 pavilions displayed at the exhibition coming from 41 countries and organisations in Asia.
HOFEX is the biggest food and foodservice equipment exhibition in Asia which is held every two years. Compared to the last exhibition, this year exhibition sees a 70% increase in the number of enterprises, especially there is a considerable increase in the number of enterprises from new emerging markets.
Within the framework of the exhibition, several activities are organised such as conference on the Hong Kong International Culinary Challenge (HKICC) and Regional Hotel General Managers Forum.
First oil refinery produces petrol
The first flow of petrol with an octane rating of 102 RON came out of technology unit No13 of the Dung Quat Oil Refinery – the first of its kind in Vietnam – on May 6.
After tests, Made-in-Vietnam commercial petrol products will be launched on to the market in early June, according to Dinh Van Ngoc, general director of the Binh Son Petrochemical Company under the Vietnam National Oil and Gas Group.
The refinery is expected to supply 400,000-500,000 tonnes of petrol and oil to the market every month. Its products will help stabilise the domestic oil market amidst unexpected fluctuations in global oil prices.
Vietnam attends the Asia’s largest food expo
Vietnamese enterprises are participating the 2009 Asian International Exhibition of Food and Drink, Hotel, Restaurant and Food Service Equipment, Supplies and Services (HOFEX 2009) in Hong Kong from May 6-9.
The Expo has more than 1,800 stands from 41 countries and regions.
The event, held every two years, is the largest food expo in Asia. The number of businesses at the Expo this year is 70 percent higher than last year and the number of visitors from the newly rising markets is ever increasing.
Alongside the Expo, a conference on international cuisine named Hong Kong International Culinary Classic 2009 (HKICC) and a forum for Regional Hotel Managers will also take place.
Electronics assoc. to seek partners in EU, America
The Vietnam Electronic Industries Association (VEIA) intends to join the World Electronic Forum in the coming years to seek out cooperative ties with partners in Europe and America.
VEIA unveiled its plan at its 3rd congress for the 2009-2013 tenure in Hanoi on May 6, where the association agreed to admit more members, particularly telecoms and FDI enterprises along with a number of major distributors.
It will also strengthen cooperative ties with overseas counterparts such as the Japan Electronics and Information Technology Industries Association (JEITA), the Korean Electronics Association (KEA), the Taiwanese Electrical and Electronic Manufacturers Association (TEEMA) and the Chinese Electronic Chamber of Commerce (CECC).
During the 2nd term, VEIA admitted an additional 51 members and none of its member businesses went bankrupt or were taken over in spite of challenges after Vietnam joined the World Trade Organisation (WTO) and the ASEAN Free Trade Area (AFTA).
VEIA has assisted the government, ministries and localities to map out policies regarding electronics, information technology and telecoms. It has also successfully organised four expos in Vietnam and sponsored 10 delegations for more than 100 businesses to take part in trade fairs and conduct fact-finding tours overseas.
FDI disbursement rate remains low
The disbursement of FDI reached only 5 percent of the registered capital in the first three months of this year, much lower than the previous years’ figures, according to the Ministry of Planning and Investment.
The rate of FDI disbursement was nearly 18 percent of the total registered capital in 2008, and 37 percent of the 2007 figure.
In the first quarter of the year, foreign investment capital injected into production activities remained low as registered capital has decreased by 40 percent (around US$6 billion). In addition, Vietnam’s overseas remittances, mostly from the US, have also plummeted this year due to the global economic downturn.
Phu My Fertilisers to train Ca Mau staff
PetroVietnam has chosen PetroVietnam Fertiliser and Chemicals Corporation (Dam Phu My), which is listed at the HCM City Stock Exchange as DPM, to recruit and train staff for its Ca Mau Fertiliser Factory.
Nguyen Xuan Thang, DPM’s chairman, said the company’s experience in running its factory and maintaining an effective distribution network were the reasons for the choice.
The Ca Mau Project, located in the southernmost province of Ca Mau, begins production in early 2012. DPM will operate the future plant and organise the distribution of its products.
Thang said details of the hiring contract have not been specified, but confirmed that it would ensure the interests of related sides, including DPM’s shareholders.
PetroVietnam is the owner of the Ca Mau Fertiliser Project, which has a total investment of US$900 million.
It has a designed capacity of 800,000 tonnes of products per annum.
Speaking at yesterday’s press briefing on DPM performance in the first four months of the year, Thang said DPM had achieved a turnover of VND2.479 trillion (US$138 million), which yielded a pre-tax profit of VND467 billion, with both figures representing around 43 per cent of the year’s targets.
The southern Ba Ria-Vung Tau Province-based DPM has the capacity to turn out 740,000 tonnes of fertiliser per year and is upgrading to increase the capacity to 800,000 tonnes, according to deputy general director Nguyen Duc Thanh. It now meets around 40 per cent of domestic demand.
The company has sold its product to Laos on a trial basis in order to diversify outlets in the future.
Viet Nam’s demand this year is forecast at around 1.7 million tonnes. Another fertiliser factory in the northern province of Bac Giang produces 150,000 tonnes each year. Several others are under development.
Thang disclosed that DPM was exploring opportunities to list on an overseas exchange, and said Singapore was among the options.
PV
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