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.

Mekong Expo 2011 opens in Can Tho

The fair showcased economic achievements, the potential and specialities of each province and city as well as fine art and handicraft products, machinery, advanced technologies, food processing, and environmental protection tools.

Registered FDI down, disbursement still up

The ministry reported FDI disbursement continued to rise. During the period, about $1.15 billion of FDI has been disbursed, posting a year-on-year increase of 4.5 per cent. Processing and manufacturing industries topped FDI attraction with registered capital of $1.2 billion in the two-month period, followed by construction with $71.7 million and retail and wholesale, $48.8 million.

January FDI plunges to $187.6 mln

The processing and manufacturing sector remained the most attractive area for foreign investors, receiving $70 million, followed by construction with $63.6 million.

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).

Vietnam attends India’s North East Summit

The summit, which ended on Jan. 22, discussed issues related to the Indian government’s development strategies for its northeastern region which has a great tourism and economic potential, especially in mining, infrastructure, agriculture, and food processing.

City furniture firms enlists UN help to get competitive

The Small- and Medium-Sized Enterprise Cluster Development Project, funded by Italy, chose the wood processing and furniture cluster in Binh Duong Province and HCM City as a pilot site for development interventions, Francesco Russo, its chief technical advisor, said.

Puffer export: the high hope dashed

Vietnamese puffer exporters are complaining that the unexpected import interruption has led to the loss of billions dong as tens thousands of puffers have not been exported. Nearly two years ago, Vietnamese farmers and enterprises were bustling with joy when the Government allowed them to carry out the project on processing and exporting puffer fish. The exports were hoped to bring more jobs and more money to farmers and enterprises.

Vietnam tops world’s cashew and pepper exports

Nguyen Thai Hoc, chairman of the Vietnam Cashew Association (Vinacas), said Vietnamese cashew nuts had penetrated into 52 countries and territories worldwide. The US, China and the EU still remained the country’s major import markets with market share making up 35 per cent, 20 per cent and 25 per cent, respectively. Vietnam planned to earn $1.5 billion from cashew exports in 2011, up 32 per cent in value as compared with last year, Hoc said, noting that this was a “hard task” due to several obstacles from the shortage of materials and labour to undiversified products and increasing processing costs.

Expansion of handicraft village model needed in VN

Statistics show that export turnover of handicraft products to over 100 countries has increased on year-on-year basis, standing at US $273 million, US $850 million and US $900 million in 2000, 2008 and 2009 respectively. About 43% of handicraft villages locate in the Red River Delta, while some 12.2% and 10.5% are in the Northwest Region and Mekong Delta respectively. Major handicraft villages are involved in rattan and bamboo weaving, fabric knitting, and wood processing.

FDI disbursement in 2010 gets big increase

In the year, the newly registered capital reached US $18.5 billion, of which US$ 6.8 billion belongs to the leading real estate sector, followed by the processing and manufacturing industries with US $5 billion, the water production and supply and electricity distribution  with US $2.9 billion, according to  the report released by Foreign Investment Agency, under Ministry of Planning and Investment.

Measures taken to ensure food safety

A survey into six wards in central Thanh Hoa City this year revealed that 33 per cent of food sold on the street was contaminated with bacteria. As many as 33.3 per cent of meat and meat products were found to be contaminated with bacteria; with 23.3 per cent infected with E.coli.  Another survey conducted in Minh Khai handicraft village in Hoai Duc District in Ha Noi this year by the Food Technology Centre, revealed that 15 per cent of food processing enterprises were too closely located to pigsties. Food was left to dry outside, and half of the households used sodium hydrogen sulphate which could cause gastritis.

Vietnam estimated attracting $18.1Bln FDI in 2010

The processing and manufacturing industry sector remained the most attractive destination for foreign investors for 10 years. However, the foreign investment has recently tended to pour 74.5% capital in service sector, especially real estate. Korean took the second position in the list of foreign investors in Vietnam with registered capital of $22.5 billion.

FDI in 2010 witnesses big changes

The disbursement rate has been improvedsignificantly, while the registered investment capital has been decreasing sharply. In previous years, real estate was the sector which attracted most of FDI capital. However, in 2010, processing and manufacturing have become more attractive in the eyes of foreign investors. The Netherlands has become the biggest foreign investor in Vietnam instead of South Korea or the US.

Vietnamese Tra fish industry committed to improving quality

Many Tra fish breeding areas in Vietnam adopted international standards, allowing their products to be exported to more than 120 countries and territories around the world. Since 2003, the provinces of Dong Thap and An Giang and Can Tho city, the biggest Tra fish suppliers for seafood processing factories, have been following international standards including the Global Good Agriculture Practices (Global GAP), the highest international standard.

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