(VEN) - Finding growing consumer demand in Vietnam for organic food products, more than 40 European food and beverage companies visited Vietnam from May 18-20 to survey this potential market, seek distribution channels and present their goods. Potential market Concerned about unsafe food, more and more Vietnamese consumers tend to seek chemical-free organic products. Higher earnings and standard of living make such products increasingly affordable. According to the Vietnam Organic Agriculture Association, Vietnamese people consume about 1.7 million euros worth of organic foods each year. Director Florian Mathieu of the French winemaker Chateau de Manissy believes plentiful agricultural land resources and high consumer demand will offer opportunities to develop organic products in Vietnam. Joonas Puvi, a representative of Salvest, an Estonian manufacturer of organic foods for children, also believes in the promise of the Vietnamese organic food market. “We see great … [Read more...] about From baby food to wine, organic is hot in Vietnam
Hoa Sen and Nam Kim not threatened by new Indonesian tariffs
Domestic steel giants Hoa Sen Group and Nam Kim Group do not expect negative impacts from the Indonesian government’s high anti-dumping duties imposed on colour-coated steels. Indonesian government imposed taxes on Chinese and Vietnamese colour-coated steel. Source: vtc.vn Indonesia imposes anti-dumping duty on Vietnamese and Chinese colour-coated steel Indonesia has just announced applying anti-dumping duty of 12.01-28.49 per cent on colour-coated steel products imported from China and Vietnamfor five years. vietnamfinance.vn stated that accordingly, the two domestic steel manufacturers Hoa Sen Group and Nam Kim Group will be imposed tariffs of 12.01 and 19.16 per cent. Previously, Indonesia has been imposing similar taxes of 13.5-36.6 per cent on cold-rolled steel products imported from Vietnam, China, Korea, Japan, and Taiwan since 2013 and has continued to maintain the safeguard measures after the country’s anti-dumping investigation in September 2015. New tax … [Read more...] about Hoa Sen and Nam Kim not threatened by new Indonesian tariffs
Developer of Hanoi Haiphong Expressway loses $110,000 a day
After more than two years in operation, VIDIFI JSC is facing difficulties as total revenue cannot cover its interest payments. Hanoi-Haiphong Expressway was put into operation in December 2015 Vietnam Infrastructure Development and Finance Investment JSC (VIDIFI) has just submitted its report to the Ministry of Transport (MoT) on the 2017 business results of the Hanoi-Haiphong Expressway project. Accordingly, the revenue from the seven tolls booths on Hanoi-Haiphong Expressway in 2017 hit only VND1.258 trillion ($55.42 million), equivalent to VND3.4 billion ($150,000) per day. Meanwhile, the revenue of two tolls booths on National Route 5 running nearly parallel to th Hanoi-Haiphong Expressway reached VND832.9 billion ($36.7 million) in 2017. The total revenue of the entire project was VND2.091 trillion ($92.12 million), equivalent to VND5.7 billion ($251,100) per day, excluding the costs that VIDIFI spent to operate the nine tolls booths and maintain the two roads. … [Read more...] about Developer of Hanoi Haiphong Expressway loses $110,000 a day
BSR considers second share sale before listing
Binh Son Refining and Petrochemical Co., Ltd. (BSR), the operator of Dung Quat Refinery, is considering putting more shares on sale before listing its shares on the Ho Chi Minh City Stock Exchange in April next year. BSR consider second stake sale before listing shares in April next year BSR chief exclusive Tran Ngoc Nguyen told Reuters that in order to attract more interested investors, BSR will not limit the sale to only strategic investors as previously planned. The sale is expected to take place via a public auction. The money from the sale will be used to upgrade Dung Quat Refinery’s capacity to at least 192,000 from the 148,000 barrels per day (bpd) now and to allow it to process more types of crude oil. Nguyen added that BSR selected one from seven contractors bidding for the contract to upgrade its facility, but refused to disclose the selected contractor’s name. According to the approved equitisation plan, after selling 7.79 per cent of charter capital to … [Read more...] about BSR considers second share sale before listing
Vietnamese logistics industry short of personnel
Despite its huge potential and forecasted annual growth rate of 12 per cent, as well as import-export turnover reaching $623 billion by 2020, the Vietnamese logistics industry is facing difficulties in enlisting personnel, especially skilled employees. Logistics training should have more substance to cater to the needs of firms Do Huu Anh, FedEx Vietnam’s manager of the training department, assessed that the rate of successful parcel deliveries in Vietnam is lower than in other Southeast Asian countries. Furthermore, logistics skills in Vietnam, including order processing, storehouse controlling, , packaging, and broken goods handling, remain in great demand. “The only way to deal with the issue is to teach personnel for each stage under specialised standards,” Anh added. Vu Ninh, the representative of Gemadept Group, stated that the segment requires many skills, including working under high pressure, ability to handle problems, and analysing and evaluating … [Read more...] about Vietnamese logistics industry short of personnel