Vietcombank to lower lending rate for exporters

Accordingly, the preferential lending interest rate of 17-19% per year will be offered to customers in sectors of production, export, agriculture and rural area. Particularly, customers subject to aforementioned borrowers in HCM City will enjoy the preferential lending interest rate of 16.5% per year. Exporters who use payment services via Vietcombank will be given the most preferential lending interest rate of only 16% per year. In addition, Vietcombank also set aside of four trillion dong to launch lending program for enterprises in the sectors of export of seafood and processing and export of wooden products whereby the preferential lending interest rate for this program will be only 16% per year.

Vietnam experiences surge in export to RoK

The RoK imported mainly rubber, minerals, garments, seafood, electric wire and cable, giving high estimations to garments. Vietnam is currently the second biggest supplier of garment products to the RoK after China. In the first three months, its garment export value to the RoK surged over 176 percent.

Exports to Japan remain strong

Contrary to initial forecasts that Viet Nam's exports to Japan have dropped sharply after the latter was hit by an earthquake and tsunami, Vietnamese companies, especially seafood exporters, are very busy completing contracts to export to Japan, according to Ly Van Thuan, general secretary of the Ca Mau Province's Association of Seafood Exporters and Processors. Orders from Japanese partners to import Vietnamese commodities, including food, rose sharply in recent days, with prices still at high levels, Thuan said.

Opportunity to boost seafood exports to Japan

General Secretary of the Ca Mau Association of Seafood Processors and Exporters Ly Van Thuan said contrary to a forecast that seafood exports to the Japanese market will face difficulties due to earthquake and tsunami impacts, the number of orders to export seafood to Japan have skyrocketed in recent days, especially frozen shrimp and fillet tra fish products.

Seafood processors waste energy, says study

The survey was conducted in 11 shrimp and 10 tra fish processing factories in the Cuu Long (Mekong) Delta by International Finance Corporation (IFC), in co-operation with the Viet Nam Association of Seafood Exporters and Producers (VASEP).

WWF not yet to remove Tra fish from Red List

Immediately after the signing of a cooperation memorandum of understanding (MoU) on sustainable development of Vietnam’s Tra fish between WWF International and WWF Vietnam along with the VASEP and the Vietnam Fishing Association (VFA),the WWF’s Global Seafood Programme Director Mark Powell confirmed his organisation’ removal of Vietnam’s Tra fish from the Red List.

Vietnam’s catfish industry looks to higher quality

The ministry held a meeting in Can Tho City on January 18 to review tra fish production and consumption in 2010 and make plans for 2011. Nguyen Huu Dung, chairman of the Vietnam Association of Seafood Exporters and Producers (VASEP), was of the view that farmers should not raise more tra fish than needed which causes redundancy and devaluation in the market.

Tax cut by up to 6% on 1,000 imports

Director of the department Vu Van Truong said the items would mainly include agricultural produce, seafood, construction materials and electrical appliances. The average drop for most items would be 2-3 per cent, said Truong. The cut, part of Viet Nam's commitment to the World Trade Organisation, was expected to benefit domestic consumers, giving them a wider choice of reasonably priced imported goods, Truong said.

Vietnam stock market to rise for 7 reasons: analysts

Analysts from the Au Viet Securities Company(AVS) said that Vietnam’s stock market has ended the medium term downtrend since 2010 and the indices will rally in 2011 for the 7 reasons and also suggest the investors five potential sectors to invest in 2011 including bank, real estate, seafood, mineral and shipping.

VN targets high, sustainable export value in 2011

At a meeting on import-export operation held in Hanoi on Dec. 30, Nguyen Huu Dung, Vice President of the Vietnam Association of Seafood Exporters and Producers (VASEP) informed that the fisheries sector will reduce export volume of some products, including tra and basa fish from over 600,000 tonnes in 2010 to about 300,000 tonnes in 2011 with the aim of raising revenue from products’ quality.

Producing 6 million tonnes of seafood by 2015

In 2010, total output of fisheries industry reached over 5.1 million tonnes, increasing by 3 percent compared to the initial target, and total exports reached nearly US$5 billion, up by 6 percent. The fisheries industry aims to produce 6 million tonnes by 2015.

Farm exports hit record high

Three export items had surpassed the $3 billion threshold this year: seafood, timber products and rice. The product which had seen the most significant increase in market value was rubber latex. This year, Viet Nam exported a total of 773,000 tonnes for a turnover of $2.32 billion.

Hanoi CPI to rise 1.3%-1.5% in Jan 2011

The price of meat is forecast to rise by between 5%-7%. Others including seafood and processed food will increase. The domestic demand tends to sharply increase in the end of the year which pushing the price level higher. However, the goods supply has ensured as the city has stored enough goods for this holiday, the department affirmed.

OTC shares attract eye of institutional investors

According to Dau tu chung khoan (Securities Investment) newspaper, Ha Noi Building Bank has finalised the purchase of a 5-per-cent stake in Binh An Seafood Company. The bank will help the company improve its corporate governance and develop its business strategy.

Shortages force tra-fish exporters to close

Nguyen Huu Dung, deputy chairman of the Viet Nam Association of Seafood Exporters and Producers (VASEP), said the export price of tra fish had reached US$3 per kilo and would increase. The purchase price of tra fish in the Cuu Long (Mekong) Delta increased from VND19,500 per kilo in early December to the current VND23,500. According to the Viet Nam Fisheries Association, scarce supplies and the slippage in the VND/US dollar exchange rate caused the tra fish price hike.

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