Hau Giang seeks capital for key investment projects

The southern province of Hau Giang will organise an investment promotion conference in the middle of September to attract investment capital for its key projects, said Truong Canh Tuyen, vice chairman of the provincial People’s Committee. — VNS Photo The southern province of Hau Giang will organise an investment promotion conference in the middle of September to attract investment capital for its key projects, said Truong Canh Tuyen, vice chairman of the provincial People’s Committee. The key sectors that need investment include the infrastructure in industrial zones and complexes, the wholesale markets for farm produce, the processing and preserving systems for farm produce, the high-tech agriculture zones and tourism. The province leader said that the conference and the related activities, such as the trade fair, would draw the participation of some 300 investors. On this occasion, the province will grant investment certificates to the investors, as well as sign memoranda of understanding with enterprises, Huynh Thanh Hoang, deputy director of the provincial Department of Industry and Trade, said. Currently, there are 4,200 enterprises with a total registered capital of VND45 trillion (US$2 billion). The province has so far attracted 40 foreign and domestic investors, who have poured capital worth $760 million and VND 66.4 trillion, respectively, in the local industrial zones and complexes. — VNS ... [read more]

Hanoi, August 30 (VNA) – The Hanoi City People’s Committee signed a Memorandum of Understanding (MoU) on forming friendly and cooperative relations with the administration of the US state of Utah following a dialogue of Hanoi and Utah businesses in Hanoi on August 30. The dialogue, held on the occasion of a visit to Hanoi by Utah Governor Gary Herbert, was attended by representatives from 15 Hanoi enterprises and 25 from Utah.  Speaking on the occasion, Chairman of the municipal People’s Committee Nguyen Duc Chung wished that via the MoU signing, the two sides will officially decide on specific cooperative contents and implement them. He mentioned possible fields for cooperation such as general education, personnel training, technological transfer, transport infrastructure, information technology, pharmaceuticals, high-tech agriculture, energy, tourism and environment.  The Hanoi authorities pledge all possible support to foreign enterprises on the win-win basis, he said, adding that he hopes the Governor would serve as a bridge promoting Hanoi’s ties with the US administration and businesses and those in Utah in particular.  Herbert, for his part, said the Utah administration creates favourable conditions for foreign firms in the state by cutting taxes, simplifying administrative procedures and streamlining apparatus.  He revealed that though recording the highest economic growth in the US, Utah state has the smallest administration apparatus, which he said, has laid foundation for success. VNA/VNP ... [read more]

On June 9, 2015, the Government issued Decree 55/2015/ND-CP on credit policies for agricultural and rural development in replacement of Decree 41/2010/ND-CP. Over the past two years, the banking sector of Soc Trang province has achieved positive results, speeding up agricultural restructuring and helping sustain agricultural development and realise the National Target Programme for New Rural Area Construction. Benefits for agriculture, farmers Over the past two years of executing Decree 55, outstanding loans for agriculture have been on the rise. As of March 31, 2017, outstanding loans for agriculture and rural development in Soc Trang province reached VND13,551 billion, 0.24 per cent higher than that at the end of 2016 and equivalent to 53 per cent of total outstanding loans. Two years with Decree 55, the credit balance for agriculture and rural development areas in Soc Trang province more than doubled. While pushing up credit growth, credit quality in the province is under control. The rate of bad debts to agricultural and rural loans according to Decree 55 is on the fall. Mr Pham Kim Hung, Deputy Director of the State Bank of Vietnam (SBV) - Soc Trang Branch, said, Decree 55 created new breakthrough steps for agricultural and rural development thanks to a lot of changes from the replaced Decree 41 and strong support from farmers. Remarkable new changes include a wider scope of borrowers and higher limits for unsecured loans, thus facilitating customers in agriculture and rural areas to access more bank credit. This was also…... [read more]

After 25 years since re-establishment, Soc Trang province has achieved encouraging socio-economic development results. And, industry has made a spectacular breakthrough with a higher growth rate than the province’s GDP growth and thus contributing significantly to local industrialisation and modernisation. According to the Soc Trang Department of Industry and Trade, the province’s GDP growth averaged 10.52 per cent a year in 1993 to 2016 and the industry - construction sector climbed 14 per cent. Taking only industry into consideration, its industrial production value was only VND478 billion in 1992 but it soared to VND10,376 billion in 2015, with the average year on year growth of 14.32 per cent in this period. The value in 2016 was 16.16 per cent higher than in 2015. In addition to the spearhead processing industry, Soc Trang has great potential for developing energy industry such as thermal power, wind power and solar power. And, this industry is expected to open a new breakthrough direction for the province in some years to come. Typical energy projects include Long Phu Thermal Power Centre with three plants with a capacity of 4,320 MW covering 420 ha (Long Phu 1 with 1,200 MW invested by PetroVietnam Group and expected to have the first turbine generate electricity in 2018 and the second turbine to go into operation in 2019, Long Phu 2 with 1,320MW invested by TATA Power Group of India and expected to have the first turbine to start commercial power generation in…... [read more]

Illustrative image (Source: VNA) Hanoi (VNA) – The Ministry of Agriculture and Rural Development (MARD) has announced that it already granted certificates to 28 agricultural businesses applying high technologies.  Of them, nine firms specialise in growing vegetables and flowers, while 8 others breed animals and 11operate in aquaculture. The MARD is devising a draft decision amending and supplementing Decision No. 69/2010/QD-TTg regulating jurisdiction and procedures of recognising high-tech agricultural firms. Accordingly, the provincial People’s Committees will be authorised to grant certificates to eligible enterprises. Apart from Hau Giang and Phu Yen high-tech agricultural areas already approved by the Prime Minister, the provinces of Thai Nguyen, Thanh Hoa, Lam Dong and Quang Ninh have built schemes to establish high-tech agricultural zones to submit to the MARD for approval. The southern province of Binh Duong, the central province of Khanh Hoa and Ho Chi Minh City are now home to several effective high-tech farming models although they have yet to submit documents to the Prime Minister for endorsement. The Trung Son high-tech agricultural zone based in the southern province of Kien Giang, which raises white-leg shrimps on an industrial scale, is the only one that has gained recognition. In fact, a number of high-tech agricultural zones have been developed nationwide, which focus on rice, fruit and vegetable cultivation and cattle and poultry farming up to VietGAP, VietGAPH and GlobalGAPH standards.-VNA... [read more]

The problem has been compounded by the erosion of fertile soil and the salinization of the Mekong Delta brought about by climate change the speakers told the audience. And should the current trends remain constant, the arable land in Vietnam could decrease by as much as 3.2% by the end of the century, resulting in a decrease of 7.2 tons of rice per annum. Rising sea levels due to climate change have led to more saltwater entering and flowing upstream in the Mekong Delta causing increased flooding that erodes the river banks and results in intensified salinization of farmland making it unsuitable for rice farming. On a positive note, high-tech and climate-smart agriculture can mitigate this trend by formulating new farming techniques and better products more suitable for the changing environmental conditions, the speakers noted. High-tech farming utilizes technology to produce more efficient, environmentally-friendly farming processes that result in better quality crops, compared to existing more traditional methods. Effective high-tech farming introduces more cost-efficient operations for farmers and greatly enhance potential for higher top line sales and bottom line earnings because of improved quality of farm produce and consumer willingness to pay more for safer food. Climate-smart agriculture, which is somewhat analogous to high-tech agriculture, presents innovative farming methods to cope with the negative aspects brought to the forefront by climate change. Innovative farming, for example, would introduce hardier crops that could better withstand natural disasters and fluctuations in…... [read more]

Thanh Thanh Cong Tay Ninh Joint Stock Company (TTCS) will fully acquire Bien Hoa Sugar Joint Stock Company (JSC), becoming in the process the biggest sugar producer in Viet Nam. Thanh Thanh Cong Tay Ninh Joint Stock Company (TTCS) will fully acquire Bien Hoa Sugar Joint Stock Company (JSC), becoming in the process the biggest sugar producer in Viet Nam. - Photo nhadautu.vn TTCS will issue nearly 304 million shares in a stock swap to acquire all outstanding shares of Bien Hoa Sugar at a ratio of 1:1.02. The conversion ratio was calculated by a third-party company that valued the shares of TTCS and Bien Hoa Sugar at VND20,944 ($0.92) and VND21,356 ($0.94), respectively. The deal will be carried out within 90 days. After the merger is completed, the chartered capital of TTCS will increase by VND3.04 trillion ($133.75 million) to VND5.57 trillion ($245.07 million). The new company will be renamed Thanh Thanh Cong Bien Hoa-Dong Nai Sugar Co., Ltd. The combined turnover of the companies last year was VND8 trillion ($353.42 million) with its capital of VND10 trillion (US$$440.53 million) Thanh Thanh Cong is one of several major companies to invest in the agricultural sector through mergers and acquisitions (M&A). In recent years, though M&A activities in agriculture have admittedly not been as frequent as in other sectors, the agricultural sector too has seen a significant increase in the number…... [read more]

Vietnam has 3 high-tech agricultural zones in Hau Giang, Phu Yen, and Bac Lieu. The Ministry of Agriculture and Rural Development has licensed 26 high-tech agricultural enterprises. The government issued Decree 30 in March to allocate a credit package of US$4.4 million to loan high-tech enterprises. The State Bank of Vietnam launched a loan program for high-tech enterprises with interest rates of 0.5% to 1.5%. Nguyen Thi Hong, Vice Governor of the State Bank, said the number of high-tech enterprises is small and the incentive loan program has not been widely implemented.  “Enterprises are still studying the program and have not yet submitted loan applications. They need to study the criteria of high-tech and clean agriculture according to the government decree. Commercial banks say they are preparing documents to instruct local branches to launch the program.”, noted Ms Hong.  Enterprises say one problem is that their property and assets are not acceptable collateral for bank loans. Minister of Natural Resources and the Environment Tran Hong Ha said “High-tech enterprises have to invest large sums in their facilities. The Ministry has drafted a circular to acknowledge their asset values and will consult other ministries to finalize it.” Minister and Head of the Government Office Mai Tien Dung said some localities have proposed incentives for local businesses.  “The government has received proposals from the provincial Party Committees of Ha Nam and Thai Binh to allow them to rent land from farmers and lend…... [read more]

The event was co-organized by Thailand- Vietnam Enterprises Association, Kashikom Bank of Thailand, the Ministry of Planning and Investment of Vietnam and Vietnam Embassy to Thailand with the participation of 500 firms of the countries. At the forum, PM Nguyen Xuan Phuc said that the two- way trade turnover of Vietnam and Thailand reached more than US$ 12.5 billion after four years of the establishment of the strategic partnership ties. Thailand has had around 470 investment projects into Vietnam with total capital of over US$ 8 billion so far. In the tourism sector, around 830, 000 Vietnamese travelers had arrived in Thailand, and Vietnam had attracted nearly 270,000 tourists from Thailand. He said that Vietnam has been promoting Merge and Acquisition ( M& A) activities in combination with state-owned enterprises equalization in the fields of transport, infrastructure,food, agriculture, telecommunications, trade and services,tourism and construction… The country also continues encouraging startup activities between domestic and global enterprises and creating advantages for foreign investors into the market.   At the meeting with Thai Prime Minister Prayuth Chan-ocha, both sides discussed about organizing of annual and once in two year-meetings to solve difficulties for investors and other issues. Under the witness of the Prime Ministers, the nations’ enterprises exchanged the cooperation agreements and documents in the fields of electrical power, high-tech agriculture, goods distribution, agricultural product purchase, construction ... Prime Minister Nguyen Xuan Phuc attends in an opening ceremony of Vietnamese Goods Week in Bangkok capital of Thailand  Thai…... [read more]

Vegetables grown with hydroponic technology at the Bac Giang Science and Technology Application Centre. — Photo baobacgiang.com.vn The northern province of Bac Giang plans to spend VND1.5 trillion (US$66 million) to develop high-tech agriculture areas growing or rearing the locality’s key products such as vegetables, flower, mushrooms, tea, lychees, citrus, chickens and pigs. Twenty per cent of the investment will be sourced from the State budget, with the rest mobilised from banks, enterprises, organisations and individuals. As many as 35 hi-tech areas will be formed, aiming to raise high-tech agricultural product value to 30-32 per cent of the total value of the agriculture sector by 2030. Bac Giang also targets two or three enterprises in the province being recognised as high-tech agricultural firms. Specifically, the province will establish 17 hi-tech areas for vegetable farming with a total area of 1,710 hectares in Lang Giang, Luc Nam, Hiep Hoa, Yen Dung and Tan Yen districts, two areas for flower cultivation in Hiep Hoa district and one tea production area over 300 hectares in Yen The district. Three lychee areas will also be formed in Luc Ngan, Tan Yen and Luc Nam districts, along with two areas for citrus, three for mushrooms, two for pig breeding and five for chickens. An area will also be developed for the research of new agriculture technology, with close partnerships with agricultural production businesses. To implement the plan, Bac Giang will promote information dissemination on…... [read more]