Can Tho’s export revenue grows 13 percent in Q1 Processing tra fish for export at the Southern Fishery Industries Co. Ltd in Can Tho city The Mekong Delta city of Can Tho exported 447.8 million USD worth of goods in the first three months of 2019, up 13.32 percent year on year, according to the municipal Department of Industry and Trade. Aquatic products and rice remained the key foreign currency earners for the city during the first quarter. Nearly 46,500 tonnes of aquatic products worth 132.57 million USD were shipped abroad, respectively rising by 27.29 percent and 10.78 percent against the same period last year. The biggest markets were Japan, Singapore, Mexico, Brazil, and Hong Kong (China). Seafood exporting companies said the shipment of shrimp and tra fish products has benefited from many preferential tariffs in other member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as from March. Therefore, they have been applying … [Read more...] about BUSINESS NEWS IN BRIEF 3/4
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EVN’s borrowings burden Vietnam’s public debt: World Bank
The Hanoitimes - Up to 70% of EVN`s loans are denominated in foreign currencies, leaving the company heavily exposed to foreign exchange risks. EVN ordered to ensure sufficient power for economic growth Vietnam may face power shortage in 2019 due to thin coal supply: EVN EVN's wholesale electricity price frame approved Vietnam's EVN gets closer to issuing USD bonds Fitch assigns Vietnam's EVN "BB" rating with stable outlook The Electricity of Vietnam (EVN) – the country's sole power distributor – has borrowed billions of dollars from foreign lenders through the Vietnamese government’s guarantees over the past years, burdening the country’s public debt, the World Bank has said. A national power grid. Photo: Internet EVN’s debt is split into two categories, namely direct loans from a variety of domestic and international commercial banks (backed by the Ministry of Finance (MOF) and on-lending loans which the MOF had … [Read more...] about EVN’s borrowings burden Vietnam’s public debt: World Bank
BUSINESS NEWS IN BRIEF 14/12
ADB provides US$300m loan to BIDV to support SMEs in Viet Nam The Asian Development Bank (ADB) and Joint Stock Commercial Bank for Investment and Development of Viet Nam (BIDV) signed a US$300 million loan agreement on Wednesday to support the growth and productivity of small and medium-sized enterprises (SMEs) in Viet Nam. “The agreement includes a $200 million loan provided by ADB and a $100 million loan arranged by ADB from 12 commercial lenders,” BIDV Chairman Phan Duc Tu said at the signing ceremony. “This is the biggest commercial loan ADB has provided to an Asian commercial bank so far, affirming the development finance institution’s positive evaluation of Viet Nam’s stability and economic growth as well as its trust in Viet Nam’s banking operations in general and BIDV in particular.” He said the loan would support SMEs in Viet Nam and reaffirm their partnership with ADB in achieving poverty reduction, economic … [Read more...] about BUSINESS NEWS IN BRIEF 14/12
BUSINESS NEWS IN BRIEF 1/9
Vinatex completes 65% of yearly revenue target Viet Nam National Textile and Garment Group (Vinatex) has completed 65 per cent of the yearly target set for total revenues with its eight-month result (excluding VAT) reaching over VND31.45 trillion (US$1.34 billion). This figure also represented a rise of 7 per cent against the same period last year, the textile group reported in a filing to the Ministry of Planning and Investment. In August alone, it earned VND4.48 trillion in revenue, down 5 per cent year-on-year, of which turnover of the parent company and subsidiaries with its holdings of over 50 per cent capital reached almost VND1.74 trillion. Revenues from other affiliate companies in which the group holds less than 50 per cent capital reached a combined VND2.74 trillion. Vinatex attributed the growth in total revenues to increases in sales of fibre products (96,051 tonnes, up 9.5 per cent year-on-year), fabric of all kinds (100.7 million m3, up 18.6 per cent) … [Read more...] about BUSINESS NEWS IN BRIEF 1/9
BUSINESS NEWS IN BRIEF 23/8
Vietnam fisheries int’l exhibition opens in HCM City Visitors to the Vietnam Fisheries International Exhibition (Vietfish) 2018 The Vietnam Fisheries International Exhibition (Vietfish) 2018 kicked off at the Saigon Exhibition and Convention Centre in Ho Chi Minh City on August 22. The event attracts 233 exhibitors from 14 countries and territories, including 153 of Vietnam, showcasing aquatic products in 374 booths. The numbers of both exhibitors and booths increase by 6.8 percent and 3.6 percent, respectively, from last year. Vietfish 2018, lasting through August 24, also features many workshops discussing the market situation, production trends and other hot topics in the fisheries sector at present. Ngo Van Ich, Chairman of the Vietnam Association of Seafood Exporters and Producers, said over the last 20 years, Vietfish has established itself as a leading and influential fisheries exhibition in Asia as seen in the surge of exhibitors, booths and visitors. He noted … [Read more...] about BUSINESS NEWS IN BRIEF 23/8