Strong marketing strategy needed to bolster tra fish exports

Vietnam strives to improve SOE equitisation efficiency Vietnam is grappling with inefficiencies as it works towards the equitisation of State-owned enterprises (SOEs). Vietnam has carried out continual reforms over the past two decades, reducing the number of SOEs from more than 12,000 in the 1990’s to the current 5,600, only 800 of which are completely owned by the State. However, the proportion of equitised funds at privatised firms is still limited, even less than 5 percent at some major groups. Minister of Planning and Investment Bui Quang Vinh said since 95 percent of the stake in those instances are owned by the State, their operations and administration remain unchanged despite their privatisation. Director of the Central Institute for Economic Management Nguyen Dinh Cung said the critical question is not the number of equitised SOEs but rather how to improve the management and use of the State capital at those firms as well as the efficiency of their administration, production, and business activities, he added. Minister Vinh said the SOE privatisation will not be efficient unless the presence of shareholders is increased and they are capable of changing the business administration. Many economists pointed to an excess of objectives set for SOEs as an obstacle to their performance. Meanwhile, almost all SOEs are operating in various fields and have complicated finances, demanding too much time to prepare and call for major investors. To enhance equitisation, the Ministry of Finance plans to deploy an array of measures such as pushing SOE equitisation…... [read more]

HCM CITY (VNS) — Viet Nam's exports to the European Union will rise by 75 per cent by 2020, Dr Vu Huyen Phuong from the Foreign Trade University predicted. The surge will lead to expanded production activities, increased attraction of foreign investment and job opportunities, Phuong said at a conference in HCM City on Saturday that focused on supporting non-state entities to join the Viet Nam-EU Free Trade Agreement (EVFTA). Phuong also held that Viet Nam's export of labour will enjoy a sharp growth, as well. Moreover, Nguyen Thi Quynh Nga from the Multi-Trade Policy Department of the Ministry of Industry and Trade noted that the EVFTA was an ambitious and comprehensive agreement on trade, services, investment and government procurement. Apart from removing non-tariff barriers, the agreement would also settle other matters related to legal procedures, competitiveness, and intellectual property, including geographical indications. Furthermore, some experts at the conference argued that the agreement was expected to pave the way for the increase of Viet Nam's exports, as factors supporting export growth had been saturated. However, they pointed out a number of challenges that Viet Nam might face when the agreement is signed, especially with regard to procedures to prove the origin of goods. In addition, Vietnamese firms and farmers should work harder to compete against products imported from the EU, which require stronger market strategies, information and predictions. — VNS... [read more]

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A National Assembly deputy, journalism expert and lawyer have urged for tightened control and radical problem-solving regarding the management of newswires in Vietnam after a news website was closed and fined earlier this week for publishing an insulting article to attract views. Tri Thuc Tre (Young Intellectuals) newswire after it ran an article titled "Gái miền Tây và 3 chữ 'N' nổi danh thiên hạ" (Mekong Delta Girls and 3 Famous N's) at on August 12. The newswire, under the management of the Vietnam Association of Young Scientists and Engineers, was penalized for seriously violating local regulations on journalism, according to a decision announced the same day by the ministry. It was also required to pay a fine of VND207 million (US$9,773), the ministry said in the decision. In the article, the author used extremely rude content to degrade women coming from the Mekong Delta and thus incite regional discrimination. The article sparked fury and harsh criticisms from many people, especially those coming from the delta, which is also known as the southwestern part of Vietnam. The case is the latest example of view attracting which has been increasingly rampant among local newswires that usually publish stories conveying sensational, slanderous, and defamatory information. Le Nhu Tien, a National Assembly deputy, pointed to the loopholes in the management of local newswires and news portals. He also urged for regular inspection, drastic measures, and harsh penalties on violators. Meanwhile, Associate Professor Nguyen Van Dung, dean of the Academy of Journalism and…... [read more]

Blogging has only been around in Viet Nam for a little over a year, but it has already created huge controversy. The pending lawsuit of famous singer Phuong Thanh against blogger Huong Tra is just the beginning. Prior to Phuong Thanh's September concert, "Mua" (Rain), in Ho Chi Minh City, freelance journalist Huong Tra wrote on blogsite "Hoi Nhung Nha Bao Tu Te" (association of decent journalists) that the show was free to all. Organizers tried to confirm that everyone needed a ticket; however, the damage had been done and several fans were disappointed. Thanh also complained that prior to the aforesaid show, Tra listed the location incorrectly, writing that "Mua" would take place at a different venue than true—causing yet-undetermined financial losses. Thanh immediately lodged complaints at competent authorities accusing Tra, under blogger Co Gai Do Long, of "tarnishing her fame." Thanh also claimed that she tried to contact Tra to correct the matter, but in vain. Tra explained on her own blog that Tra did not pick up her cell phone as Tra "knows too well her [Thanh's] character." Meanwhile, Tra's blog has been deleted by the blog administrator on the grounds that "Phuong Thanh's fans have written some comments that degrade the blogsite." However, the blogging war did not stop there. Tra, in a new blog, wrote that it is her duty to "purify Vietnamese musical life," and that bloggers will support her. In her new blog, she did not use Thanh's name directly, but only alluded…... [read more]

Thaco’s first bus parts and components shipment is exported to Kazakhstan from Chu Lai - Truong Hai Port. — Photo Truong Hai Auto Corporation (Thaco) will export 230 sets of parts and components of the County bus to Kazakhstan from now to 2018. Thaco did not disclose the export value. This is the second batch to be exported to Kazakhstan – part of the contract on exporting bus components and parts to Kazakhstan and the Commonwealth of Independent States (CIS). The first batch of 30 sets of County bus components and parts, which were manufactured by Thaco Bus Manufacturing Company Limited, was shipped to Hyundai Trans Auto (HTA) in Kazakhstan as authorised by Hyundai Motor Company. Thaco quoted its partner as saying that demand for the use of public vehicles in central Asian countries was rising, however the region’s products were unable to match the demand. The situation was challenging local automakers in Kazakhstan, along with opening cooperation opportunities for foreign businesses in meeting the demand of the local market and exports. Thaco said its County bus components and parts will be installed with car chassis imported from South Korea. The completed built-up buses were being distributed in the local market and would be exported to other countries, including Russia and Belarus. Director of Thaco Bus Nguyen Quang Bao said Thaco manufactured bus components and parts according to modern technologies, which had high level of automation, with facilities imported…... [read more]

A wind farm in the Mekong Delta province of Bac Lieu. Illustrative image (Photo: VNA) Hanoi (VNA) – A carbon market will be one of the means for Vietnam to achieve the committed greenhouse gas (GHG) emission reduction targets, according to Nguyen Van Tue – Director of the Department of Meteorology, Hydrology and Climate Change. At a recent regional workshop on mechanism for a carbon market, Tue said for developing countries like Vietnam, participating in the carbon market is a chance to access modern technologies, create financial revenues, and join hands with the global community in reducing GHG emissions and coping with climate change. Building and developing a carbon market is also part of international efforts to realise the Paris Agreement on climate change so as to curb the increase of GHG concentration in the atmosphere at low expenses, he noted. To help carry out the UN Framework Convention on Climate Change, the Kyoto Protocol suggested flexible mechanisms for developed and developing countries to cooperate to reduce GHG emissions. In the protocol’s initial commitment period from 2008 to 2012, the carbon market was vibrant with the Joint Crediting Mechanism (JCM). Some carbon credit mechanisms that are not within the framework of the Kyoto Protocol, also called voluntary carbon credits, also developed rather strongly. However, the number of newly registered JCM projects has fallen down considerably since 2013, which was attributable to the Doha Amendment to the Kyoto Protocol not taking effect yet. As a…... [read more]

A group of South Korean actors, singers and artists from the band TWICE, JYP Entertainment, and the nationwide cable TV network and broadcasting company JTBC are making a video about the central province of Thua Thien Hue.  One scene in the video clip. Photo: The filming has been organized by the provincial Department of Culture, Sports and Tourism in cooperation with the Hanatour Service Corporation, one of the largest South Korean travel companies, to introduce the beauty and cultural heritage of Thua Thien Hue to the South Korean public. The video is being filmed at the UNESCO World Heritage’s the Hue Citadel, the Khai Dinh Tomb, the Huong River, with its charming natural scenery, and at exhibitions of ao dai (Vietnam’s traditional dress). The crew also filmed neighboring Da Nang and Quang Nam province. The video is an opportunity for the local tourism sector to promote tourism in the central region to attract more international tourists, especially South Koreans. South Korea topped the list of foreign visitors to Thua Thien Hue in the first half of this year, with over 97,000, accounting for 26 per cent of the total of 414,500, which was up 6.76 per cent year-on-year.  Acknowledging the increasing number of South Korean visitors, local investors and enterprises are paying greater attention to upgrading My An and Thanh Tan hot springs, which is a popular spot among South Korean and Japanese tourists. The department also has plans to invite South Korean experts to help local businesses select…... [read more]

A worker of the Huy Long An Ltd. in the southern province of Long An clean bananas for export. The company used to export bananas to the Middle East market but face difficulties in payment. — Photo Around 40 leading Vietnamese export firms attended a conference on Viet Nam-Middle East business co-operation in Ha Noi on Monday. Addressing the event, Minister of Agriculture and Rural Development Nguyen Xuan Cuong said that the Middle East market is huge as well as a gateway to the European market. Viet Nam hopes to export many agricultural products, including rice, tea, coffee, peppercorn, rubber, cashew, fruit and aquaculture products, to the 400 million population Middle East market, which comprises 16 countries. However, Cuong pointed out that the trade revenue between the two countries remains low because of difficulties in payment as both sides mostly pay via intermediary banks in Dubai, China and Singapore, or some European countries that incur a high cost. The Middle East is a promising market for Vietnamese bananas, said Vo Quan Huy, director of Huy Long An Ltd., and asked for more effective measures to support exporters in payment as well as to improve the standards of goods exported to this market. Le Thanh, head of the Organic Agriculture Institute, said the growth in vegetable exports to the Middle East is high at 24 per cent, which shows that it is a promising option for Vietnamese firms. However, logistics…... [read more]

Long Bien JSC (Lobico) is ready to transfer back the land the golf course is currently situated on at the government’s request, so long as it receives compensation for the huge investment earmarked for the project, company deputy chairman Tran Van Tinh has said. Tinh currently owns a 48.5% stake in Lobico, the owner of the 36-hole Tan Son Nhat Golf Course. The facility is said to occupy a huge space that should otherwise have been allocated to the overloaded Tan Son Nhat International Airport which is to be expanded. The airport currently receives 32 million passengers per annum, compared to its design capacity of 25 million. “If the government wants to revoke [our] project to serve eco-social development or national defense, any business should comply to the request, and we will do the same with the Tan Son Nhat Golf Course,” Tinh told Tuoi Tre (Youth) newspaper. Even though Lobico has channeled investment worth trillions of dong into the project, Tinh said that he would not be upset if the golf course was withdrawn. (VND1 trillion = US$44.05 million) “I do not feel anything abnormal,” he said. “Businesses have to be ready to take risks, especially policy risks, on every investment and this is the case here.” Tinh added that some of the Lobico shareholders may be sad, “but things will be alright.” The Lobico deputy chairman claimed that he had nothing to worry about as the golf course has been…... [read more]

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