Iran's Rice Import Ban to Stay
Until November 21 
Thursday, September 07, 2017
The ongoing seasonal ban on rice imports will be in effect until
Nov. 21, Deputy Agriculture Minister Yazdan Seif said, noting that the ban
started as of August. “Every year and during the rice harvest season, the
government bans rice imports in support of local farmers and domestic production.
Traders who have already made order registrations can import their cargos after
the deadline. During the ban period, no imports will take place,” he was quoted
as saying by Mehr News Agency.
On Monday, the Islamic Republic
of Iran Customs Administration announced that rice importers have until Friday
to clear their shipments from customs terminals.
The ban pertains to grain order
registrations during the abovementioned period, meaning orders placed before
the ban may be entitled to customs clearance past the deadline.
Iranians consume 3 million tons
of rice a year while domestic production stands at 2.2 million tons. Therefore,
there is need for around 800,000 tons of imports every year.
The Agriculture Ministry expects
domestic rice production to increase by 10-15% in the current Iranian year
(started March 21), because of favorable weather condition and timely
distribution of seeds, fertilizers, pesticides, machinery and equipment among
local farmers.
“We need imports, but imports
that are limited and controlled,” Agriculture Minister Mahmoud Hojjati has been
quoted as saying.
Imports are made mainly from the
UAE, India, Pakistan, Thailand, Turkey and Iraq.
The two northern provinces of
Gilan and Mazandaran are home to a majority of Iran’s paddy fields.
A total of 81% and 70% of rice
harvest in the two provinces respectively were mechanized in the last Iranian
year (ended March 20, 2017).
According to the Central and West
Asia Rice Center, with around 54% of Central and West Asia’s paddy fields
located in Iran, the country accounts for 61% of the regions’ combined rice
production
https://financialtribune.com/articles/economy-business-and-markets/71938/irans-rice-import-ban-to-stay-until-november-21
Punjab government plans mobile app to curb
stubble burning
Sources said the app will be on the lines of
Ola cab app, using which farmers can get information on availability, use of
such machinery across state
Written
by Anju Agnihotri Chaba | Jalandhar | Published:September 6, 2017 1:54 am
Ahead of paddy harvesting in state, the Punjab government, which has been under fire from the
National Green Tribunal (NGT) for some time, has asked the state’s agriculture
department to introduce a mobile app to provide farmers information about the
availability and use of machinery meant for “stubble management” so that they
do not set fields on fire. The paddy harvesting would start by the end of this
month.Sources said the mobile app will be on the lines of Ola cab app, using
which farmers can get information on availability and use of such machinery
across the state. It is also learnt that “machinery banks” would be developed
in the state to discourage stubble burning. Despite filing cases and imposing
fines on farmers for burning “crop residue”, the state government has little
success in its efforts to stop stubble burning and curb pollution.
In Punjab, rice is cultivated on around 29-30 lakh hectares, of which
25 lakh hectares go under paddy (Parmal rice) and remaining under ‘Basmati’.
Basmati rice stubble is used for making ‘fodder’, but in case of paddy, farmers
burn it in the fields to prepare it for the next crop. Following NGT order
against stubble burning, the Punjab government is faced with a huge challenge
to manage around 197 lakh metric tonnes of paddy stubble, out of which 70 to
75% is burnt in the fields only.
State’s director (agriculture) Dr Jasbir Singh Bains said the
government had directed the district administration to implement a three-year
“updated action plan” to stop crop residue burning by farmers and directed the
agriculture department to come up with a mobile app, which would be launched
for providing information to farmers on “available machinery through
cooperative societies, farm machinery banks and individual owners having
invested money on equipment”.
During the wheat harvesting season in April-May this year,
Punjab detected 788 field fires through satellite images in just one month and
more through district-level committees. As many as 226 errant farmers faced
fines totalling Rs 8 lakh and several were booked too. Most cases were reported
from Mansa, Barnala and Firozpur districts. These districts would be under
scanner, said officials
http://indianexpress.com/article/india/punjab-government-plans-mobile-app-to-curb-stubble-burning-4830567/
Government to evaluate implementation of rice ceiling price
5th September 2017 |
Jakarta (ANTARA News) - The government will evaluate
the implementation of the ceiling price of rice in modern and traditional
markets, with the commoditys average price currently at Rp10,610 per kilogram
(kg) for medium-quality rice.
Trade Minister Enggartiasto Lukita stated here on Tuesday that rice traders claimed they still had earlier rice stocks bought at a higher price due to which they will need a transition period before they can adhere to the ceiling price for medium- and premium-quality rice.
"The regulation (of the rice ceiling price) came into effect on Sept 1, and there are previous stocks. Next week, we will evaluate to review its implementation. We can warn (the traders)," Enggartiasto noted.
Ministerial Regulation No. 57 of 2017 on the rice ceiling price will be effective not only for modern markets but also for traditional markets.
"We have summoned the Indonesia Retailers Association, as they could sell their previous stocks, but the price must be lowered. In traditional markets, they still have a transition period, as they have to first sort out the rice types," the minister added.
The government has set the rice ceiling price for medium and premium quality in a bid to maintain the peoples purchasing power and control the inflation rate.
The ceiling price for medium-quality rice in the regions of Java, Lampung, South Sumatra, Bali, West Nusa Tenggara, and Sulawesi was set at Rp9,450 per kg while for premium quality at Rp12,800 per kg.
For Sumatra region except Lampung and South Sumatra, East Nusa Tenggara, and Kalimantan, the ceiling price for medium-quality rice was set at Rp9,950 per kg and Rp13,300 per kg for premium quality.
For Maluku, including North Maluku and Papua, the ceiling price of medium-quality rice was set at Rp10,250 per kg and Rp13,600 per kg for premium quality.
The government has categorized the commodity into three types based on Agriculture Ministers Decree No. 31 of 2017 on rice quality.
The first type is medium-quality rice, with minimum 95 percent of milling degree, maximum 14 percent of moisture content, and maximum quantity of broken rice at 25 percent.
Medium-quality rice can be sold in bulk or packages, with labels detailing the quality and its ceiling price.
The second type is premium-quality rice, with 95 percent of milling degree, maximum moisture content of 14 percent, and maximum quantity of broken rice at 15 percent.
This type of rice must be sold in packages, with labels detailing the quality and its ceiling price.
Another rice category was special rice including Thai Hom Mali, Japonica, Basmati, sticky rice, organic rice, and rice, with a geographical indication certificate.
The commoditys average price has also recorded an increase since the implementation of the ceiling price in early September.
According to the ministrys Basic Necessities Monitoring System, the national average price for medium-quality rice as of Tuesday was Rp10,610 per kg, a slight increase from Rp10,596 per kg on Monday.(*)
Trade Minister Enggartiasto Lukita stated here on Tuesday that rice traders claimed they still had earlier rice stocks bought at a higher price due to which they will need a transition period before they can adhere to the ceiling price for medium- and premium-quality rice.
"The regulation (of the rice ceiling price) came into effect on Sept 1, and there are previous stocks. Next week, we will evaluate to review its implementation. We can warn (the traders)," Enggartiasto noted.
Ministerial Regulation No. 57 of 2017 on the rice ceiling price will be effective not only for modern markets but also for traditional markets.
"We have summoned the Indonesia Retailers Association, as they could sell their previous stocks, but the price must be lowered. In traditional markets, they still have a transition period, as they have to first sort out the rice types," the minister added.
The government has set the rice ceiling price for medium and premium quality in a bid to maintain the peoples purchasing power and control the inflation rate.
The ceiling price for medium-quality rice in the regions of Java, Lampung, South Sumatra, Bali, West Nusa Tenggara, and Sulawesi was set at Rp9,450 per kg while for premium quality at Rp12,800 per kg.
For Sumatra region except Lampung and South Sumatra, East Nusa Tenggara, and Kalimantan, the ceiling price for medium-quality rice was set at Rp9,950 per kg and Rp13,300 per kg for premium quality.
For Maluku, including North Maluku and Papua, the ceiling price of medium-quality rice was set at Rp10,250 per kg and Rp13,600 per kg for premium quality.
The government has categorized the commodity into three types based on Agriculture Ministers Decree No. 31 of 2017 on rice quality.
The first type is medium-quality rice, with minimum 95 percent of milling degree, maximum 14 percent of moisture content, and maximum quantity of broken rice at 25 percent.
Medium-quality rice can be sold in bulk or packages, with labels detailing the quality and its ceiling price.
The second type is premium-quality rice, with 95 percent of milling degree, maximum moisture content of 14 percent, and maximum quantity of broken rice at 15 percent.
This type of rice must be sold in packages, with labels detailing the quality and its ceiling price.
Another rice category was special rice including Thai Hom Mali, Japonica, Basmati, sticky rice, organic rice, and rice, with a geographical indication certificate.
The commoditys average price has also recorded an increase since the implementation of the ceiling price in early September.
According to the ministrys Basic Necessities Monitoring System, the national average price for medium-quality rice as of Tuesday was Rp10,610 per kg, a slight increase from Rp10,596 per kg on Monday.(*)
http://www.antaranews.com/en/news/112518/government-to-evaluate-implementation-of-rice-ceiling-price
Indonesia
caps rice prices
Reuters / Khmer Time
September 6, 2017
JAKARTA
(Reuters) – Indonesia’s Trade Ministry has capped retail prices for most types
of rice, looking to “maintain stability” in the cost of the commodity which
lies at the heart of cuisine in the Southeast Asian nation.
Although
prices for the grain have been relatively steady this year, the step comes as
authorities intensify measures to ensure food prices remain in check as they
are politically-sensitive due to their impact on the poor.
Rice
prices also carry a heavy weighting in calculating the country’s consumer price
index.
The
decree, issued last week with immediate effect, puts ceiling prices at between
9,450 rupiah to 10,250 rupiah ($0.71 to $0.77) per kilogram for 25-percent
broken rice, or what authorities call “medium rice”, depending on where the
grain is sold in the archipelago.
Those
ceiling prices were below national average of medium rice prices in 2017, which
have so far fluctuated between 10,540 rupiah to 10,756 rupiah a kg, according
to Trade Ministry data.
The
government also set the maximum prices for 15-percent broken rice, or “premium
rice” at 12,800 rupiah to 13,600 rupiah per kg.
Other
types of rice the government considers “special” are exempt from the new rules.
The
move comes in the wake of a crackdown on some Indonesian rice companies. Last
month, police detained the chief executive of rice company PT Indo Beras
Unggul, a unit of food company PT Tiga Pilar Sejahtera Food, over allegations
of false product labelling.
Indonesia’s
annual inflation rate has been manageable so far in 2017, the central bank has
previously said. In August, the rate was 3.82 percent, comfortably inside Bank
Indonesia’s 3 to 5 percent target range for 2017, the statistics bureau
reported on Monday.
Meanwhile Thailand’s government
on Friday announced $2.2 billion in loans and handouts to help stabilise prices
for rice farmers, a politically influential group whose heartland is in regions
where opposition to the military junta is strongest
http://www.khmertimeskh.com/5081682/indonesia-caps-rice-prices/
New Farm Bill
Topic of Sept. 7 Webinar
Author: Bobby Coats, Professor of
Economics
By Bobby Coats, Professor of
Economics
Host: Bobby Coats, Professor in the
Department of Agricultural Economics and Agribusiness, University of Arkansas
System, Division of Agriculture, Cooperative Extension Service. E-mail:
recoats@uark.edu
Producer: Mary Poling, Coordinator
for Interactive Communications, University of Arkansas System Division of Ag,
Cooperative Extension Service, E-mail: mpoling@uaex.edu
Title: Will it be a 2017 or 2018
Farm Bill? (60 minutes)
Presenter: Mary Kay Thatcher, Senior
Director of Congressional Affairs, American Farm Bureau Federation
Description: Mary Kay will review
the status of ongoing discussions about the upcoming farm bill and give us some
“inside the Beltway” insight into what is likely to be debated and the
interaction of this Administration and budget negotiations.
Registration link for Sept. 7th at
10 AM CST webinar:
http://bit.ly/farm-bill-18
About the speaker, Mary Kay
Thatcher, Senior Director of Congressional Affairs, American Farm Bureau
Federation:
Mary Kay Thatcher has worked as a lobbyist for
the American Farm Bureau Federation for 30 years. She currently serves as
Senior Director of Congressional Relations where she lobbies primarily on
issues covering farm programs, crop insurance, conservation, and credit.
In the past few years, she has also
spearheaded AFBF’s participation about the topic of farm data, security and
privacy. She serves as President of the
Ag Data Transparency Evaluator, a tool developed by Ag Tech Providers and
farm/commodity groups to help farmers understand the contracts they sign to
share their farm data. She also serves
as Secretary of the Ag Data Coalition, a group of 14 members consisting of farm
groups, land grant universities, ag equipment manufacturers and technology
companies and providers. The coalition
is working to develop an ag data cooperative to confidentially maintain a
farmer’s data and to facilitate collaboration in the new era of data driven
agriculture.
Mary Kay served in the “first” Bush
Administration as a political appointee as the director of congressional and
public affairs of the Farm Credit Administration. In that capacity, she was
responsible for the policy direction and management of the agency’s
congressional and public affairs activities.
Prior to joining AFBF in 1982,
Thatcher served as a legislative assistant for agriculture and trade to Sen.
Roger Jepsen of Iowa. She is a graduate of Iowa State University where she
earned degrees in animal science and agricultural economics.
Thatcher is a fifth generation Iowa
farmer. She grew up on a 500-acre Iowa
beef, hay and corn farm. She now manages a farm in Iowa producing corn and
soybeans, as well as a cow/calf operation.
SEPTEMBER 7, 2017 / 12:51 PM
/ UPDATED 2 HOURS AGO
Nagpur
Foodgrain Prices Open- Septmember 07, 2017
Nagpur Foodgrain Prices – APMC/Open Market-September 7
Nagpur, Sept 7 (Reuters) – Gram and tuar prices declined further in
Nagpur Agriculture Produce
and Marketing Committee (APMC) here on lack of demand from local
millers amid increased arrival
from producing belts. Fresh fall in gram on NCDEX, weak trend
Madhya Pradesh pulses and high
moisture content arrival also pulled down prices.
About 600 of gram and 400 bags of tuar were available for auctions,
according to sources.
FOODGRAINS & PULSES
GRAM
* Desi gram reported down
in open market in absence of buyers amid good supply from
producing regions.
TUAR
* Tuar varieties ruled
steady in open market but demand was poor.
* Udid varieties and Batri
dal shot up in open market on good demand from local
traders amid weak arrival from producing
regions.
* In Akola, Tuar New –
4,300-4,500, Tuar dal (clean) – 6,300-6,500, Udid Mogar (clean)
– 8,600-9,200, Moong
Mogar (clean) 6,600-7,100, Gram – 5,500-5,800, Gram Super best
– 8,600-9,000
* Wheat, rice and moved in
a narrow range in scattered deals and settled at last
levels in thin trading
activity.
Nagpur foodgrains APMC
auction/open-market prices in rupees for 100 kg
FOODGRAINS Available prices Previous close
Gram Auction 5,000-5,700 5,000-5,900
Gram Pink Auction n.a. 2,100-2,600
Tuar Auction 3,800-4,190 3,800-4,275
Moong Auction n.a. 3,900-4,200
Udid Auction n.a. 4,300-4,500
Masoor Auction n.a. 2,600-2,800
Wheat Mill quality
Auction 1,600-1,650 1,600-1,670
Gram Super Best
Bold 8,500-9,200 8,500-9,200
Gram Super Best n.a. n.a.
Gram Medium Best 7,600-8,000 7,600-8,000
Gram Dal Medium n.a. n.a
Gram Mill Quality 5,900-6,000 5,900-6,000
Desi gram Raw 5,800-6,000 5,800-6,000
Gram Kabuli 12,500-13,500 12,500-13,500
Tuar Fataka
Best-New 6,700-7,000 6,700-7,000
Tuar Fataka
Medium-New 6,400-6,600 6,400-6,600
Tuar Dal Best
Phod-New 6,200-6,400 6,200-6,400
Tuar Dal Medium
phod-New 5,700-6,000 5,700-6,000
Tuar Gavarani New 4,400-4,600 4,400-4,600
Tuar Karnataka 4,800-5,000 4,800-5,000
Masoor dal best 5,200-5,400 5,200-5,400
Masoor dal medium 4,600-4,900 4,600-4,900
Masoor n.a. n.a.
Moong Mogar bold
(New) 7,200-7,500 7,200-7,500
Moong Mogar Medium 6,700-7,000 6,700-7,000
Moong dal Chilka 5,500-6,200 5,500-6,200
Moong Mill quality n.a. n.a.
Moong Chamki best 7,000-8,000 7,000-8,000
Udid Mogar best (100
INR/KG) (New) 9,000-10,000
8,600-9,600
Udid Mogar Medium (100
INR/KG) 6,500-8,000 6,500-7,600
Udid Dal Black (100
INR/KG) 5,000-5,600 4,800-5,300
Batri dal (100
INR/KG) 5,000-5,600 5,000-5,500
Lakhodi dal (100
INR/kg) 3,000-3,200 3,000-3,200
Watana Dal (100
INR/KG) 2,900-3,100 2,900-3,100
Watana White (100
INR/KG) 3,500-3,700 3,500-3,700
Watana Green Best (100
INR/KG) 3,600-4,800 3,600-4,800
Wheat 308 (100
INR/KG) 1,900-2,000 1,900-2,000
Wheat Mill quality (100
INR/KG) 1,850-1,950 1,800-1,900
Wheat Filter (100
INR/KG) 2,100-2,300 2,100-2,300
Wheat Lokwan best (100
INR/KG) 2,100-2,400 2,100-2,400
Wheat Lokwan medium (100
INR/KG) 1,900-2,000 1,900-2,000
Lokwan Hath Binar (100
INR/KG) n.a. n.a.
MP Sharbati Best (100
INR/KG) 3,000-3,600 3,000-3,600
MP Sharbati Medium (100
INR/KG) 2,200-2,700 2,200-2,700
Rice BPT best (100
INR/KG) 3,300-3,500 3,300-3,500
Rice BPT medium (100
INR/KG) 2,900-3,200 2,900-3,200
Rice Luchai (100
INR/KG) 2,600-2,900 2,600-2,900
Rice Swarna best (100
INR/KG) 2,500-2,700 2,500-2,700
Rice Swarna medium (100
INR/KG) 2,300-2,400 2,300-2,400
Rice HMT best (100
INR/KG) 3,800-4,200 3,800-4,200
Rice HMT medium (100
INR/KG) 3,500-4,000 3,500-4,000
Rice Shriram best(100
INR/KG) 5,000-5,500 5,000-5,2500
Rice Shriram med (100
INR/KG) 4,600-4,900 4,600-4,900
Rice Basmati best (100
INR/KG) 10,000-14,000 10,000-14,000
Rice Basmati Medium (100
INR/KG) 5,100-7,600 5,100-7,600
Rice Chinnor best 100
INR/KG) 4,800-5,000 4,800-5,000
Rice Chinnor medium (100
INR/KG) 4,300-4,500 4,300-4,500
Jowar Gavarani (100
INR/KG) 2,000-2,200 2,000-2,200
Jowar CH-5 (100
INR/KG) 1,800-2,000 1,800-2,000
WEATHER (NAGPUR)
Maximum temp. 34.1 degree Celsius, minimum temp. 24.2 degree
Celsius
Rainfall : 2.6 mm
FORECAST: Generally cloudy sky with one or two spells of rains or
thunder-showers. Maximum and
minimum temperature would be around and 34 and 24 degree Celsius
respectively.
Note: n.a.--not available
(For oils, transport costs are excluded from plant delivery prices,
but
included in market prices)
https://in.reuters.com/article/northkorea-missiles-southkorea-thaad/china-agrees-more-u-n-actions-needed-against-north-korea-after-nuclear-test-idINKCN1BI053
140,000 sacks
of Vietnam rice arrives in Albay to augment NFA stock
By: Mar S. Arguelles - Correspondent / @msarguellesINQ
Inquirer Southern Luzon / 04:19 PM September 06,
2017
LEGAZPI CITY
– As many as 140,000 sacks of imported rice from Vietnam will arrive late
afternoon Wednesday at the Tabaco Port in Tabaco City on board Vietnamese cargo
vessel MV Panh Ba, the National Food Authority (NFA) in Bicol said.
Customs and
NFA authorities said the vessel would dock and unload the rice cargo shipment
after import documents were submitted and customs and quarantine inspection
have been conducted, according to Beth Jacob, NFA Bicol spokesperson.
The rice
shipment is the first of the three batches of the 500,000 sacks of rice bought
from Vietnam. The other two shipments will arrive before the year ends.
ADVERTISEMENT
The sacks of
rice, once unloaded this afternoon, would be brought to NFA warehouses in six
Bicol provinces to augment the low rice stock.
The province
of Camarines Sur has the biggest allocation with 40,000 bags, followed by Albay
with 31,000 bags, Sorsogon with 25,000, Camarines Norte with 20,000, and 12,000
each for Catanduanes and Masbate.
Jacob said
NFA stocks inventory indicate that there are only 42,219 bags of rice available
in NFA warehouses which is not enough to last more than a day.
Rice
Webinar: Thursday September 7
Tune in Thursday, September 7, at 10:00
a.m. Central Time, for a new rice webinar hosted by Dr. Bobby Coats,
with the Department of Agricultural Economics and Agribusiness at the
University of Arkansas, with Mary Kay Thatcher, from the American Farm Bureau
Federation, who will review the status of ongoing discussions about the
upcoming farm bill and give us some "inside the Beltway" insight into
what topics are likely to be debated.
Go here to register for the webinar.
Go here to register for the webinar.
USA Rice Daily
USA
Rice Outlook Conference Bigger and Better
ARLINGTON, VA -- Registration for
the annual USA Rice Outlook Conference opened on Fridaywith more
programming announced than ever before.The largest North American gathering for
the rice industry is taking place from December 10-12, 2017 and is
expected to attract 1,000 rice farmers, millers, merchants, researchers,
exporters, and more to beautiful, fun San Antonio, Texas.
In
addition to Outlook Conference mainstays like the U.S. Department of
Agriculture's Nathan Childs, analyst Jim Wiesemeyer, and individual state
outlook and research reports, programming has been added for every segment of
the industry through concurrent breakout sessions.
"We
are planning sessions on understanding and utilizing the futures market,
complying with the Food Safety Modernization Act, detailed analysis of the Farm
Bill, and workshops on crop insurance options for organic rice farmers, and the
latest conservation techniques for all rice farmers," said Brian King, USA
Rice Chairman.
Important
international panels are also being offered with one focusing on the reimagined
North American Free Trade Agreement that involves two of the U.S.'s most
important markets - Mexico and Canada - and another on the much-anticipated
Chinese market, newly opened to U.S. rice exports.
"We've
also added a session called 'From Piles to Files' that features Lori Firsdon, a
renowned speaker and organization guru, who is going to teach attendees how to
get paperwork and office clutter under control, and a fun interactive session
on telling the rice story, featuring some growers who do it very well,"
King said.
The
anchor of the meeting is still the opening general session that will feature
welcomes from state officials, including Texas Comptroller Glenn Hegar, and a
keynote address from Mark McKinnon, one of the most successful, influential,
and respected political and media advisors in the modern era who is the
creator, executive producer, and co-host of Showtime's real-time documentary
series on the 2016 election and the Trump presidency, The Circus: Inside the
Greatest Political Show on Earth.
For
more on the 2017 Outlook Conference, including registration materials and information
on exhibiting, visit the Conference website and watch this space for further
details in the coming days.
USA
Rice Daily
New
GAO Report Analyzes Global Food Aid Programs
By Frank Leach
WASHINGTON, DC -- In response to a
request from House Agriculture Committee Chairman Michael Conway, the
Government Accounting Office (GAO) recently released a report analyzing the
impact of U.S. global food aid programs. The report comes at a critical
time for U.S. food assistance programs whose funding levels have been the
subject of frequent debates as part of the annual budget process.
U.S.
agricultural commodity groups, including USA Rice have been very vocal in
advocating for the full funding of food assistance programs as they are
critical in assisting countries from slipping into hunger and malnutrition and
play a key role in maintaining stability as part of the United States' soft
diplomacy.
"While
USA Rice opposes any cuts to U.S. food assistance programs, we support measures
that improve their effectiveness and efficiency in the donation of U.S.
commodities," said USA Rice Food Aid Subcommittee Chairman Bobby
Hanks.
The
report leant a critical eye to the documentation of processes and procedures of
food aid projects but also acknowledged the importance of these programs toward
promoting diplomacy and global stability. Most of the concerns noted in
the reported focused on improving the country and commodity selection process,
in particular emphasizing the need to ensure that any commodity donated, does
not distort local markets.
Under
the current operating guidelines, USDA and USAID food aid programs are required
to document their selection of countries receiving food aid, and monitor and
evaluate the impact on local markets. In its report, the GAO noted that
in several occurrences, USDA and USAID did not consistently document their
processes and procedures, leading to concerns of negative market impacts.
USA
rice has a long history as a leading participant in both USDA and USAID food
assistance programs and has always been insistent and careful about having
market analysis completed before any rice donations take place, particularly in
the case of USDA's Food For Progress monetization programs.
"Recently
our food aid participation has taken on a new enhanced dimension with the
addition of fortified rice to global food assistance programs, complementing
the milled rice already used in food rations," said Hanks.
"Fortified rice is a new product and not produced in any of the target
countries."
The
report also established the importance of U.S. food aid programs, and why it is
necessary for agencies to follow a prescribed set of procedures. This
included a critique of USDA's process of recipient country selection for the
McGovern Dole School Feeding program and Food For Progress, including the
donation of commodities to non-priority countries. Hanks said, "We
believe these programs should maintain some flexibility to respond to global
dynamics and also to allow for commodities to be reprogrammed if a country's
geopolitical situation changes."
Hanks
concluded, "Food aid programs are critical element of our international
diplomacy efforts. The GAO report takes a strong step toward highlighting
these benefits along with providing us with a critical view of how we can
improve these programs for the benefit of its recipients."
Go here to read the entire GAO report.
New Scientific Finding To Help Tackle Pest Attacks In Rice
The new finding identifies differences in microbes present
within the insect at different stages of its lifecycle.
Indian researchers have taken a significant step towards finding
a new strategy to fight Asian Rice Gall Midge, an insect pest that causes
significant losses in rice crop.
The scientists have discovered that the structure of bacterial
communities within the pest varied with the different stages of development of
the pest (from maggots and pupa to the adult fly) and also with reference to
the nature of the host rice crop (whether it was susceptible or resistant to
the pest).
The new finding is significant as it identifies differences in
microbes present within the insect at different stages of its lifecycle. The
study also suggests that microbes perhaps influence resistance and
susceptibility features of the rice host. This understanding can help evolve
new strategies to control the pest. Earlier studies have described the
mechanism involved during rice defense and ARGM counter-defense, but this is
the first time involvement of microbes in rice-ARGM interaction has been
reported, researchers said.
ARGM is a member of an insect family called cecidomyiidae. It is
found mainly in irrigated or rain-fed wetland areas during tillering stage of
rice crop. It is also common in upland and deep water rice. ARGM attacks can
cause significant yield losses. Several biological agents and chemical
pesticides are available to kill this pest. Scientists say that the finding of
the present study could lead to new strategies against ARGM.
The research team included Abhishek Ojha, Deepak Kumar Sinha and
Suresh Nair of New Delhi-based International Centre for Genetic Engineering and
Biotechnology (ICGEB); A.P. Padmakumari of Indian Institute of Rice Research,
Hyderabad and J.S. Bentur of Agri Biotech Foundation, Hyderabad. The research
results have been published in journal Scientific Reports.
(India Science Wire)
https://www.outlookindia.com/website/story/new-scientific-finding-to-help-tackle-pest-attacks-in-rice/301330
La Farm Bakery's Carolina Gold Rice
Bread Shares Gems of the Past
Carolina Gold Rice sourdough at La Farm Bakery
La Farm Bakery
4248 Northwest Cary Parkway, Cary
www.lafarmbakery.com
4248 Northwest Cary Parkway, Cary
www.lafarmbakery.com
Carolina Gold Rice sourdough at La
Farm Bakery photo by alex boerner
I have just enough clear-eyed
self-awareness to know that I would have become the crankiest of serial
killers.
One summer when I was little, my
mom decided to lose some weight. It worked; she went down six full dress sizes.
But the diet that worked so well for my uber-disciplined mother would have been
a no-fail recipe for disaster for me. She ruthlessly eliminated all white food.
Nope, nope, nope. Dairy would have
been tough enough; no cheese and ice cream make me extremely grouchy. Excluding
pasta, rice, and potatoes would have put even more potentially dangerous
pressures upon me.
But no bread? Yeah, that's gonna
end in a bloodbath with my neighbors and the folks I went to school with being
interviewed by correspondents from Inside Edition.
Last fall I had my first bite of
the bread that has become not only my favorite, but the yeasty benchmark
against which all others will be judged.
It comes from the heart and mind of
my favorite baker, chef Lionel Vatinet, owner of La Farm Bakery in Cary. Chef
Lionel holds the title of Master Baker and the respect of people like Jacques
Pepin.
In 1999, Vatinet opened La Farm
with his sweet wife, Missy. They and their business have become institutions in
the area, as well as boosters and supporters of Southern producers and
farmers.
In 2016 Vatinet decided to make a
bread that would pay homage to Southern food history. In the colonial era,
getting one's hands on fancy hard flour (high-gluten flour) was about as easy
as George Washington getting good phone reception at Valley Forge. So bakers
made do, using cereals and grains that were available.
Anson Mills is a South Carolina
producer and mill of rescued heirloom rice, corn, and wheat. Its founder, Glenn
Roberts, began the business with a commitment to revive the ubiquitous starch
in antebellum cuisine: Carolina Gold Rice.
The mad scientists at La Farm make
a porridge from Carolina Gold and mix it into a sourdough bread dough. They
then speckle the top with rice kernels.
The result is the best bread ever:
Carolina Gold Rice sourdough. The inside is moist and tender and the outside is
chewy, crusty, and crackles when you slice it. It's amazing on
sandwiches and makes toast that excites the spirit. Now when was the last
time you had exciting toast? Have you ever had exciting toast?
Unfortunately, this paragon of
bread is seasonal. But they start making it in August and always have plenty on
hand at the State Fair. So, do like me and stock up, freeze it, then ration it
to keep getting your toast on till August rolls around again.
The creations of master baker
Vatinet and La Farm are textbook examples of the technique and history of
French baking. But it's filtered through the lens of Southern culture.To that
intoxicating hybrid, I say, merci y'all
Of Rice and Men: Cultivating the Next Green Revolution
Alec Regino on
Sep 6, 2017
Yogendra Sahoo makes all of his
income from cultivating rice in his 5-acre farm in the Jajpur District of
Odisha, India. His village is situated a bit above the coast, and every year
Sahoo’s crops face rain, water scarcity, and damage from submergence. In 2015,
he was the first farmer in his village to grow BINA Dhan 11, a
submergence-tolerant rice variety developed by the International Rice Research
Institute (IRRI) in Los Baños, Philippines. While most farmers
faced a yield of 1,700 kg per acre for different varieties, Sahoo gained 1,200
kg per half an acre.
“The farmers who heard about the performance of this variety
came to me and asked for seeds for the next kharif season,” Sahoo says. “More
than 20 farmers from other villages also obtained the seeds from me.”
IRRI’s STRASA Project aims to create rice varieties that can
survive in various types of stress. (from irri.org)
Sahoo’s good fortune came from extensive research and testing
from IRRI’s STRASA(Stress
Tolerant Rice for Africa and South Asia) Project, funded by the Bill and
Melinda Gates Foundation and managed by Abdelbagi Ismail, Head of the Genetics
and Biotechnology division at IRRI. IRRI led the charge during the first Green
Revolution in the 1960s by developing IR8, a rice variety that saved the
developing world from a food insecurity disaster. Around this time, China had
suffered from a famine caused by the Great Leap Forward, and Paul
Ehrlich’s The Population Bomb warned of
mass starvation in the 70s and onwards due to overpopulation.
Nowadays, famines rarely occur in Asia and the mass starvation
that the world was set to face never came. In the Philippines, annual rice
production has increased from 3.7 million tons to 7.7 in the span of two decades. Meanwhile, India, which Ehrlich pointed to as one of the major
nations on the brink of starvation, is currently the world’s largest exporter of rice.
To many, rice production is a problem that has been solved. The
global per capita rice consumption has halted, and according to agricultural scientists
Shoichi Ito, E. Wesley F. Peterson, and Warren R. Grant in an article for
the American
Journal of Agricultural Economics, as Asian nations increase their
wealth, rice per capita consumption tends to decrease.
Despite this, it is unclear
whether IRRI’s success with IR8 has accomplished all its goals. While the
first Green Revolution targeted areas where there were good water control and
soil conditions, farmers in less favourable areas still use the traditional
rice varieties that can tolerate more stressful conditions. According to the
Food and Agricultural Organization, the increasing scarcity of land and water
is a growing threat to food security. As farmers age, there is a heightened
level of concern for who will take up their work when they pass. In Japan, the
age of the average farmer is 70, and in the Philippines and Indonesia, it’s 57 and 50, respectively.
While the global per capita rice consumption has stagnated,
population is still rising drastically. According to IRRI, the global rice
demand is estimated to increase from 439 million tons in 2010 to 555 million
tons in 2035. In Africa, where the population growth rate is
high, there is an exponentially increasing demand for rice.
Dr. Abdelgagi Ismail is the project leader of STRASA and the
head of Genetics and Biotechnology at IRRI. (from irri.org)
Moreover, the issue of climate change has already negatively
impacted rice production. “Rice yields decrease with climate warming, and the
increase in night temperature causes high sterility 
and reduced grain filling,
causing poor quality.” As IRRI’s Dr. Abdelgagi Ismail says, “In coastal areas,
we are seeing progressive rises in sea level and inland intrusion by a few
kilometres every year, especially in the coastal deltas of Vietnam, Bangladesh,
and Myanmar. These deltas are the major rice production areas in these
countries.” If the trends remain the same, yields are set to decline, and in
Asia, a continent where 90% of rice is consumed, this could have a disastrous
effect on the 560 million hungry people in the region who rely on rice to sustain their diet.
and reduced grain filling,
causing poor quality.” As IRRI’s Dr. Abdelgagi Ismail says, “In coastal areas,
we are seeing progressive rises in sea level and inland intrusion by a few
kilometres every year, especially in the coastal deltas of Vietnam, Bangladesh,
and Myanmar. These deltas are the major rice production areas in these
countries.” If the trends remain the same, yields are set to decline, and in
Asia, a continent where 90% of rice is consumed, this could have a disastrous
effect on the 560 million hungry people in the region who rely on rice to sustain their diet.
IRRI’s research in the 1960s was invaluable in stopping global
famine, and in the 21st century they may have to dramatically alter rice
agriculture again. This time, they’ll need to target the farmers that were left
behind the first time around.
“We are now integrating tolerances of abiotic factors into modern
varieties and bringing them to the areas that missed the first green
revolution.” Ismail says, “This is what we are referring to as the second green
revolution.”
As land becomes scarce and farmers grow older in Asia, it is
Africa who can make up the difference. “Africa is the potential future world
food basket,” he believes.
Unlike the first Green Revolution, which used a single miracle
variety to produce an exorbitant amount of rice, the second Green Revolution
involves tailoring seeds to thrive in particular environments (drought,
submergence, salinity, iron toxicity, heat and cold). IRRI’s research has made
it clear that it is possible to double the productivity in these areas, and
they hope to increase its nutritional value too.
“I am optimistic that with sufficient investment in research,
science will help us solve all hurdles and sustain our food supply, and
agriculture is the only source of food.” Ismail says, “The concept of the
second Green Revolution is a good example, besides investing more into areas
and resources that are not yet sufficiently exploited.”
As a result of this, the next Green Revolution is, in essence,
an undertaking aimed towards reducing hunger and poverty for the world’s
poorest. It is the impoverished, who are the most susceptible to global
warming, that stand to benefit the most from the development of rice science.
Farmers need more efficient production practices dominated by mechanization and
efficient varieties that require fewer resources to produce higher yields.
The next Green Revolution does not have a single variety that
has the same substantial effect that IR8 did. Instead, it will complete the
first one by improving various types of rice to work in vastly unalike
terrains, which will help farmers, like Sahoo, who need it most.
http://mironline.ca/rice-men-cultivating-next-green-revolution/
Does Uganda need GMOs? Scientists
look to gene editing to spur innovation
58211
Ugandan scientists converged this summer at a biosafety forum in
Kampala organized by Uganda’s national council for science and technology to
share experiences on biotechnology research. The forum that brings legislators
and communicators to join scientists, also had a visiting professor from Brazil
— Paulo Paes De Andrade. His presence was enriching,
especially his experience with biosafety regulations in Brazil and ongoing
works with gene editing.
The annual event brings technology
developers and regulators together. Uganda has the largest number of
transgenics in trials in Africa. But in the absence of a comprehensive
biosafety law, scientists are finding it difficult to proceed beyond confined
trials. To help spur government action, biotech supporters working
with the Uganda National Council for Science and Technology invited a
prominent Brazilian geneticist to reinforce their case.
Brazil is one of the world’s
leading biotech crop centers, and the professor of genetics at the Federal
University of Pernambuco, Recife, Brazil, is one its leading proponents. The
future in agriculture, he said rests not with aging transgenic technology but
in gene editing.
Brazilian Professor addresses Ugandan scientists at a Biosafety
Forum in Kampala.De Andrade explained how scientists worked together to
challenge the anti-GMO propaganda campaigns orchestrated by foreign-funded
Greenpeace and other advocacy groups — most based in Europe. Now
anti-technology groups are focusing on gene editing.
The battlefront became clear, he
said, in Cancun, Mexico in 2016 at the United Nation’s Convention on
Biological Diversities (CBD). Several “familiar” voices pushed
for the moratorium on gene editing, claiming the risks were not known and “more
studies” were necessary.
Will the CBD take the
“precautionary approach” on gene editing like they did in the Cartagena
Protocol on G.E Biosafety?
The Uganda representative at the talk, David Hafashimana, who
participated at the CBD conference, confirmed that the moratorium issue was
raised but no solid decision was made. It’s expected to be a hot issue at
subsequent CBD members meetings.
Anti-GMO activists frequently
invoke the so-called “precautionary principle” — an ideological notion that
argues that if absolute safety cannot be confirmed in the exercise of a new
technology, it should be banned. Of course nothing can be proven safe. But
support for the idea by biotechnology critics resulted in its inclusion in
the Cartagena Protocol on
Biosafety. It has since evolved into a potent tool used by GMO opponents to
restrict the introduction of crop biotechnology in the developing world.
Several African countries enact laws which cite ambiguous precautionary fears
to justify blocking or slowing research. Over the years some African countries
— notably Ethiopia and Tanzania — have pushed back against these precautionary
rules and NGO activist scare propaganda to amend their laws. Trials are now in
advanced stages in those countries.
Uganda looks to gene editing
(CRISPR/Cas9) to improve rice and other crops
As most African countries grapple with whether to adopt GE crops,
scientists globally are beginning to explore gene editing technology, especially
CRISPR/Cas9 in improving crops and medicine. The National Agricultural Crops
Resources Research Institute in Uganda has started the process of using CRISPR
to develop local rice varieties to resist bacterial blight. Bacterial
blight is caused by the bacterial pathogen Xanthomonas
campestris. It causes wilting of seedlings and yellowing and drying of leaves.
According to the International Rice Research
Institute, yield loss due to bacterial blight can be as high as
70 percent when susceptible varieties are grown in environments favorable to
the disease. In Uganda, most of the rice is grown in lowland areas where blight
is more virulent. Rice is becoming an important crop in Uganda partly because
of the availability of several productive areas around fresh water lakes. Rice
also takes little energy to prepare into a meal. The increase in production
though is causing environmental degradation of wetlands needed to protect Lake
Victoria from pollution but also facilitating rapid drainage during prolonged
drought leading to insufficient water for animals.
Other key issues discussed at
the Biosafety Forum 2017
Ugandan scientists working on several projects discussed a variety
of other issues including: Uganda’s readiness for the environmental impact if
GM crops are approved; recent advances in gene drive research in mosquitoes and
malaria control; how Africa and Uganda can benefit from synthetic biology;
progress made towards developing genetically enhanced vitamin A banana and
bacterial wilt resistant banana; and responding to climate change by improving
cassava and maize to resist viruses and drought respectively.
Scientists called upon their members of parliament to enact a
biosafety law that will help farmers who are losing yields to pests, diseases
and drought that could benefit from GE crops, many of which are in advanced
stages of development. This historic bill, if passed, has a potential to usher
Uganda into the modern age of agriculture.
Isaac Ongu is an agriculturist,
science writer and an advocate for science based interventions in solving
agricultural challenges in Africa. Follow him on Twitter @onguisaac.
https://geneticliteracyproject.org/2017/09/05/uganda-need-gmos-scientists-look-gene-editing-spur-innovation/
Last
update 14:28 |
Experts
at a recent conference in Ho Chi Minh City urged Vietnam agriculture to move away from
high-yield to superior quality rice varieties to best compete with other rice
exporters in the Asian region such as India and Thailand. The European Union
will offer the Vietnamese rice segment import duty-free
tariff rate on increased quotas when the EU-Vietnam Free Trade Agreement comes into
force, which should happen sometime in 2018, said Tran Ngoc Thach, director of
the Mekong Delta Rice Research.
Therefore, Mr Thach advises the segment to change production practices post haste to fully capitalize on the advantages posed by these beneficial quotas and lower border taxes.
According to the Agreement as approved by the Delegation of the EU to Vietnam, the European states will permit duty free import of 30,000, 30,000 and 20,000 metric tons milled rice, fragrant rice, and husked rice, respectively.
The agreement also provides for a 50% reduction in tariffs on broken rice with the remaining tariff phased out over a five year period, noted Mr Thach.
He emphasized the point that many experts believe that the preferential border tax could potentially save the Vietnamese rice segment US$20 million annually, which is a tremendous savings.
Mr Thach continued to say that though Vietnam has been hailed as the globe’s third largest rice exporter, its rice consignments to the EU over the past few years can be described as lacklustre at best.
He noted that over recent years, Vietnamese rice exports dipped because far too many actors in the segment focused too much on planting high-yield rice. Meanwhile, other countries are concentrating on higher-quality rice production.
According to a report by the Vietnam Food Association, Mr Thach said, that rice exports to the EU market dropped from 24,000 to 20,000 metric tons in 2014, a further 18,000 tons in 2015 and again in 2016.
The EU is a demanding market with strict requirements for factors ranging from product quality to environmental standards as well as the brand prestige and production process, Mr Thach said.
In addition, though not being regular rice eaters, EU customers prefer rice of higher quality than Vietnamese rice. That’s why Vietnam has become less competitive against other rice exporting nations.
It is no secret that European consumers are fonder of fragrant rice from Thailand, while the Vietnamese rice segment is only now just beginning to focus its efforts to elevate its image, Mr Thach concluded.
Huynh Van Nghiep, deputy director of the Mekong Delta Rice Research Institution, in turn said it is hard for the Vietnamese industry to compete on an equal footing with Thailand, but the country can learn from the experience of Cambodia.
The Cambodian rice segment is on the mend, Mr Nghiep noted, due to its winning the world’s ‘best rice’ title for three consecutive years.
He suggested if the Vietnamese segment would switch away from growing high-yield and short-term rice varieties that the improved production practices would help create better tasting varieties of rice.
Therefore, to better compete with other countries in the Asian region, farmers and other actors in the industry should expeditiously shift from high-yield to superior-quality rice varieties, Mr Nghiep said.
VN targets US$3.5 billion of rice exports by 2020
The Ministry of Industry and Trade has unveiled a strategy for developing rice exports in 2016-20 that targets reversing a declining trend over the last two years and increasing overseas sales to US$3 billion in 2017.
It also targets a gradual shift towards export of high-quality, high-value, organic, nutritional, specialty and Vietnam brands of rice and rice-based products.
The export of low-quality white rice is expected to fall to 15% of total shipments by 2020 and 10% by 2025.
In the latter year medium-quality white rice will account for 20% and high-quality white rice, fragrant rice and glutinous rice for 60%.
The ministry will make efforts to diversify export markets, with a focus on markets with demand for high-quality rice. The ministry has sent the draft strategy to relevant ministries and industries to solicit their opinions.
Middle East targeted for agro-exports
The Middle East is not only a large market for Vietnamese agricultural products but a bridge to the European market, according to the Ministry of Agriculture and Rural Development.
Minister of Agriculture and Rural Development Nguyen Xuan Cuong discussed the issue outside of the Middle East business co-operation conference held recently in Hanoi.
According to Cuong, the Middle East includes 16 core countries with a population of nearly 400 million. Vietnam can meet many demands for agricultural products from these markets. For example, the annual demand for rice from the Middle East is about five to seven million tonnes and there is huge demand for vegetables, fruits and aquaculture products.
Trade turnover between the Middle East and Vietnam was low because of payment difficulties. Both sides have to use banks in other countries such as China and Singapore for transactions, which increases the financial risks, Cuong said.
"Agricultural product export turnover to the Middle East could reach over US$10 billion," he said.
The ministry has carried out extensive research into the Middle East, especially Iran. They will speed up the process, expecting to earn about US$2 billion from Iran.
Cuong urged businesses to improve the management, technology and quality of the products. He also encouraged farmers to collaborate to set up co-operatives for different products.
Vietnam’s export turnover of agriculture, aquaculture and forestry products was valued at US$32 billion last year. Statistics from the Ministry of Industry and Trade show that trade turnover with the Middle East had been on the rise in recent years.
Last year, total turnover reached US$10.9 billion, double that of 2011. Import turnover was US$2.8 billion and export turnover US$8.1 billion.
Domestic maker exports mooncakes to US, China
Mooncakes under Mondelez Kinh Do’s brands have been exported to the US and China so far this year for the upcoming Mid-Autumn Festival.
A representative from Mondelez Kinh Do said Kinh Do mooncakes have been exported to the US for several years and this year they hit retail shelves in the US in late August to serve Asian customers in the Mid-Autumn Festival.
This is the second year Mondelez Kinh Do exports mooncakes to China. This year, the mooncakes called Oreo have hit retail shelves in China.
For domestic market, the company supplies 84 kinds of mooncakes with different flavours. Average prices for a traditional cake is VND40,000-470,000 and VND600,000-VND3.2 million for a cake of best quality.
Mondelez Kinh Do Vietnam is a new brand company between the two confectionery makers, Mondelēz International and Kido Group.
Binh Duong urges investment in hi-tech fields
The southern province of Binh Duong will focus on the attraction of investment in hi-tech industries that are less labour intensive and more environmentally friendly.
The statement was made by Tran Thanh Liem, chairman of Binh Duong People’s Committee, at his meeting with James Ha, chairman of South Korea-based Sae-A Group, held in Binh Duong on Tuesday. Besides the existing industrial parks, Binh Duong Province plans to establish new industrial zones to welcome investment from foreign investors, Liem said, adding that by 2020, 14,000ha will be utilised for industrial parks in the province.
Binh Duong will also develop a number of specific beneficial policies related to administrative procedures, land and facility construction to attract foreign investment, with the expectation that enterprises will continue to invest and expand their production, contributing to economic development of the locality, Liem said.
The province expects to receive feedback and sincere comments from enterprises on issues related to business operation to make reasonable adjustments and avoid difficulties and obstructions in the investment progress, he said.
Speaking at the meeting, James Ha said that at present, Sae-A group has more than 70,000 employees, of which nearly 19,000 are working in Viet Nam.
The group currently operates in the field of textile and garments, however, Ha said, the group plans to expand its investment into electronics and hi-tech in the future.
According to the provincial People’s Committee, South Korea is Binh Duong’s third-largest investor after Taiwan, China and Singapore, with 619 projects valued at more than US$2.69 billion.
In the first months of 2017, many South Korean investors continued to pour investment capital into Binh Duong with 16 new projects and 17 projects registered to increase capital, amounting to total investment of $306 million.
Top Asia-Pacific reps to mull small business help
The 24th APEC Small and Medium Enterprises Ministerial Meeting (SMEMM) and related meetings, scheduled to take place in HCM City from September 10-15, are expected to enhance the competitiveness and creative capacity of micro-, small- and medium-sized enterprises (MSMEs) in the digital era.
The event will create valuable opportunities for businesses to exchange effective cooperation ideas in the context of globalisation and integration, said Ho Sy Hung, Director of the Enterprise Development Agency under the Ministry of Planning and Investment at a press conference in Ha Noi on Tuesday.
Ministers will discuss measures to facilitate business access to markets and deeper engagement in global value chains; enable MSMEs to get access to new technologies, improve management capacity, and increase their competitive edge; and promote entrepreneurship and business ethics.
They are also expected to adopt a number of documents, including a declaration on promoting start-up businesses, and a strategy developing green, sustainable and innovative SMEs.
A series of related meetings will take place during the event such as the 45th APEC Small and Medium-sized Enterprise Working Group Meeting, APEC Online to Offline (O2O) Forum, APEC Startup Forum, and Forum on APEC Digital Economy.
Established in 1989, APEC comprises 21 economies, including Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand, the US and Viet Nam.
Viet Nam joined APEC in 1998. SMEs employ more than 50 per cent of the workforce and contribute over 40 per cent of the GDP in Viet Nam.
HCM City sees retail sales boom during National Day holiday
Supermarkets and shopping malls as well as traditional markets in HCM City saw a strong uptick in sales during the National Day holidays, which this year lasted from September 2 to 4.
Co.opmart outlets on Nguyen Dinh Chieu, Ly Thuong Kiet, Dinh Tien Hoang, and Binh Trieu and Co.opXtra were crowded from September 1.
Do Quoc Huy, marketing director of Saigon Co.op, which owns the chain, said sales had been up 40 per cent from normal while footfall had doubled.
Fresh and processed foodstuffs and beverages were the top sellers, while sales of household utensils and clothes increased slightly.
Huynh Kim Thu Thuy, director of Co.opmart Dinh Tien Hoang, said the supermarket had increased stocks by 15-20 per cent and kept adding them to ensure there was no short supply.
It had also increased the number of checkout counters, she said.
Programmes to promote consumption of Vietnamese goods launched by many retailers on the occasion greatly contributed to higher sales.
Saigon Co.op has for instance launched the “Tu hao hang Viet” (Proud of Vietnamese Goods) programme, its largest promotion of the year, offering discounts of up to 50 per cent on thousands of products, hundreds of valuable gifts and many times higher points that normal.
Big C, which offered discounts of up to 50 per cent on more than 1,000 essential products during the holidays, said sales had risen by more than 30 per cent.
Fresh and processed foods, beers and other beverages were among the bestsellers, the supermarket said.
Ho Quoc Nguyen, public relations manager at Big C, said stocks had been increased by 30 per cent for the holidays.
The number of customers was up strongly thanks to the promotion programme and also daily entertainment activities held at its outlets, he said.
Sales also doubled at Lotte Mart supermarket, with processed products, seafood, beers and soft drinks being the biggest sellers.
A large number of people visited the Phu Tho Indoor Stadium for the 2017 Sales Promotion Fair, where Vietnamese goods were promoted.
According to the city Department of Industry and Trade, sales at the fair had been higher than expected thanks to many companies offering discounts of up to 49 per cent on products such as food, fashion, electronics and others, with fashion products being the most popular.
At traditional markets like Tan Dinh, Ba Chieu and Thi Nghe, business was slightly better than on normal days, with fresh and processed foods and beverages being the biggest sellers.
With supply being abundant, prices were steady during the holidays.
On September 4-5, sales of fruits, flowers and vegetarian foods at traditional markets increased sharply as customers shopped for the occasion of the full moon.
Vietnam, Laos sign cooperation deal in agriculture, forestry for 2017-18
The agriculture ministers of Vietnam and Laos signed a cooperation agreement on agriculture, forestry, fisheries, and rural development in 2017-2018 at a meeting in Hanoi on September 5.
Vietnam’s Minister of Agriculture and Rural Development Nguyen Xuan Cuong and Laos’ Minister for Agriculture and Forestry Liane Thykeo co-chaired the annual event on bilateral agro-forestry-fisheries ties.
Under the agreement, the two countries will focus on cooperating in science-technology and human resources training. The two sides will also increase trade promotion of Vietnamese and Lao agro-forestry products.
They agreed to promote investment, production and processing cooperation programmes in agriculture and forestry while removing difficulties for Vietnamese firms to expand investment in manufacturing activities in Laos.
Minister Cuong particularly underlined a joint programme on cattle breeding development, which he said is important to both Vietnam and Laos, and expected to be a breakthrough in agricultural development.
At the meeting, the two ministers also reviewed the implementation of the agreement signed between Vietnamese and Lao governments in agriculture and rural development in 2016-2017.
In the period, the two countries actively coordinated to carry out projects using non-refundable aid of the Vietnamese government for the Lao counterpart.
Specifically, an agricultural technical service centre in the north-eastern province of Xiangkhouang, built with total investment of 35.6 billion VND (1.5 million USD), was put into operation in December 2016.
The construction of a similar centre in the Laos’ eastern province of Houaphanh was launched in February 2017.
The two sides also held regular visits by high-level delegations, experts and technicians to share experience in agriculture, forestry, water resources, agricultural encouragement, and food safety.
The Vietnamese ministry pledged to support Laos to develop rural areas and diversify goods production, as the Lao side said the country is concentrating on developing production of agro-forestry-fishery products and building new rural areas.
Petrol price continues rising slightly
The Ministries of Industry and Trade, and Finance decided to raise the retail price of RON 92 petrol by 306 VND to maximum 17,792 VND (78 US cents) per litre from 3pm on September 5.
The price of E5 bio-fuel also rose by 285 VND to a maximum of 17,539 VND per litre, while the prices of diesel and kerosene up 155 VND and 149 VND to 13,950 VND a litre and 12,547 VND a litre, respectively.
Meanwhile, the maximum price of mazut was 11,148 VND per kilogram, an increase of 43 VND.
The average global price of RON 92 during the last 15 days prior to September 5 was 65.827 USD per barrel, while the figures for diesel 0.05S and kerosene were 63.823 USD and 63.547 USD per barrel, respectively.
An Giang earns over 500 million USD from export in 8 months
The Mekong Delta province of An Giang earned 506.3 million USD in the past eight months, up 6.5 percent year on year, fulfilling 61.7 percent of the yearly plan, reported the provincial Department of Industry and Trade.
The high result was mostly due to growth in exports of rice and frozen tra fish. In the reviewed time, the province shipped abroad 243,400 tonnes of rice for 112.6 million USD, equal to 92.7 percent of the revenue in the same period last year.
The province raked in 156.5 million USD for selling 81,300 tonnes of aquatic products.
At the same time, An Giang also earned 64 million USD in exports of garment and textile, up 2.9 percent year on year.
Vo Nguyen Nam, Director of the An Giang Department of Industry and Trade said that the province will continue providing local firms with market information, especially developments and policies of the Chinese market, while removing obstacles facing enterprises in case of negative developments in the markets.
The province will also provide early forecast on the demand and prices of major export products, thus helping local businesses design production plans, he added.
Vinacomin mines 24.58 million tonnes of coal in 8 months
The Vietnam National Coal and Mineral Industries Group (Vinacomin) has produced 24.58 million tonnes of coal in the first eight months of the year, accounting for 68.3 percent of the annual plan.
Of the total output, 21.38 million tonnes were consumed domestically while 866,000 tonnes were exported, raking in over 35.3 trillion VND (1.55 billion USD) in revenue.
In September, the group plans to mine 2 million tonnes of coal and sell 2.5 million tonnes, including 2.34 million tonnes in the domestic market and 155,000 tonnes for export.
Building a production and business plan for 2018 in accordance with the market demand and rational inventory balance will be the main target of the group. Vinacomin will pay due attention to its restructuring, with a focus placed on renovating techniques and technologies, organisation and management system, finance and workforce.
In addition, Vinacomin will also tighten management of natural resources and product quality, and join hands with local authorities to prevent coal losses.
Ho Chi Minh City’s economy on steady growth track
Ho Chi Minh City’s economy continued its steady growth in the first eight months this year, said the municipal authorities during a working session reviewing the city’s performance in the period on September 5.
Speaking at the event, Director of the municipal Department of Planning and Investment Su Ngoc Anh said the total retail value rose 10.3 percent annually to surpass 599.1 trillion VND (26 billion USD) during the period. The total export is estimated at 22.8 billion USD, up 13.6 percent while the industrial production index went up 7.31 percent.
Four key industries, namely mechanical engineering, electronics, chemicals – rubber – plastics, and food processing, continued expanding their markets. Investment in advanced equipment to improve quality and competitiveness surged 11.8 percent year-on-year.
Since early this year, the city has granted licences to 26,614 new firms with a total registered capital of over 358.89 trillion VND, marking 13.1 percent and 82.9 increases in the number of businesses and registered capital, respectively.
Up to 1,171 business households have switched their status to businesses. Meanwhile, the total foreign direct investment attraction hit 3.23 billion USD, representing a 1.57-fold increase annually.
Anh attributed the growth to the city’s support in delivering innovation, improving the business climate and refining start-up ecology. At the same time, the city has also facilitated technological transfer in agriculture to produce safe and quality farm produce.
The total agro-forestry-fisheries value was estimated at over 7.63 trillion VND, up 6.5 percent on the yearly basis.
Director of the municipal Department of Finance Phan Thi Thang said the city collected in excess of 224 trillion VND to the State budget, or 64.39 percent of the estimate and up 11.47 percent from the same period last year. The total spending stood at 33.58 trillion VND, or 47.54 percent of the estimate and up 20.64 percent.
Chairman of the municipal People’s Committee Nguyen Thanh Phong took the occasion to request agencies concerned to continue perfecting start-up ecology, encouraging innovation and improving the business climate.
Binh Duong calls for investment in less labour-intensive industries
The southern province of Binh Duong will focus on attracting investment in hi-tech, less labour-intensive and environmentally friendly industries in the time ahead.
Chairman of the provincial People’s Committee Tran Thanh Liem made the remark while meeting with CEO of the Republic of Korea (RoK)’s Sae-A group James Ha on September 5.
Liem noted his province will enlarge existing industrial parks and build new ones to welcome more foreign investors, thus expanding the total industrial park area to 14,000ha by 2020.
It is going to devise a number of concrete policies to attract foreign investment, hoping that foreign firms will step up operations in Binh Duong and help fuel local economic growth.
The provincial People’s Committee, departments and sectors are ready to provide favourable conditions in terms of administrative procedures, land and factory construction so as to give investors the best possible business environment, he said.
The official added Binh Duong also wants to receive sincere feedback on relevant issues from entrepreneurs in order to make appropriate adjustments.
For his part, James Ha said more than 7,000 of his group’s 19,000 employees in Vietnam are working in Binh Duong. Sae-A is currently concentrating on apparel production, but it intends to expand investment to electronics and high technology, which suits the local industrial development orientation.
According to the Binh Duong administration, the RoK is the third biggest foreign investor in the province, following China’s Taiwan and Singapore, with 619 projects worth over 2.69 billion USD in total. RoK investors have invested 306 million USD in 16 new projects and 17 existing ones so far this year.
Can Tho eyes partnership with Japan tourism agency
The Mekong Delta city of Can Tho wants to establish a strategic partnership with the Japan National Tourism Organization (JNTO)’s Vietnam office to attract more Japanese tourists to the city, said an official of the city.
Vice Chairman of the Can Tho People’s Committee Truong Hoai Nam made the proposal during a working session with Takahashi Ayumi, head of the JNTO’s Vietnam office, on September 9.
Nam said while Can Tho is a socio-economic hub of the Mekong Delta region, the number of tourists visiting the city is low compared to other localities in the region. Therefore, the city wants to cooperate with other partners to give a boost to the tourism sector.
The official also noted that the number of Japanese tourists visiting the Mekong Delta, including Can Tho, has to date increased nearly 10 percent from last year. He attributed the outcome to effective collaboration to promote tourism and tourist exchanges between the sides.
For his part, Takahashi Ayumi said Vietnam-Japan political relationship is at its best ever since it was established in 1973, thus opening up cooperation opportunities across multiple fields, including tourism.
He unveiled that JNTO Vietnam has planned a number of promotion events to introduce the Japanese tourism market to Vietnamese while helping Vietnam promote tourism in Japan.
The agency will also work with the Japanese Embassy in Vienam to organize more international cultural events, and lobby for easing Japan’s visa policy for Vietnamese tourists, among others.
Takahashi asked the Can Tho authorities to consider opening more air routes from Can Tho to Japanese major cities to facilitate travel between the sides.
According to JNTO’s statistics, Vietnamese visitors to Japan saw strong growth in the past 5 years. In the first 6 months of 2017, over 234,000 Vietnamese travelled to Japan, up 28 percent compared to the same period last year. Vietnamese were also among top spenders in Japan with an average spending of 237,000 JPY ( 2,166 USD) per person per trip.
Vietjet carries 260,000 passengers during holiday
The low-cost airline Vietjet Air operated about 1,500 flights, serving nearly 260,000 passengers during the National Day holiday (September 2-4).
The number of Vietjet Air’s passengers this holiday increased 27 percent year-on-year, with punctuality rate reaching 88.3 percent.
The airline also launched various programmes during its flights, such as presenting gifts and domestic flight tickets to customers.
On the occasion, the carrier announced a new route from Ho Chi Minh City to Jakarta (Indonesia) and opened the Hanoi – Yangon (Myanmar) route.
Currently, Vietjet Air boasts a fleet of 45 aircraft, including A320s and A321s, and runs over 350 flights per day. It currently operates 73 routes in Vietnam and across the region to Singapore, the Republic of Korea, China, Thailand, Indonesia, Myanmar, Malaysia and Cambodia.
Public disagree with toll cut of controversial BOT tollbooth
The Ministry of Transport, the People’s Committee of the Mekong Delta province of Tien Giang and investors yesterday met and agreed to cut down tolls for all vehicles through controversial Cai Lay BOT (Build-Operate-Transfer) tollbooth.
However, the toll cut has yet to reach public expectation while the BOT tollbooth has continued halting operation to wait for decision from the Ministry of Transport.
Therefore, Mr Thach advises the segment to change production practices post haste to fully capitalize on the advantages posed by these beneficial quotas and lower border taxes.
According to the Agreement as approved by the Delegation of the EU to Vietnam, the European states will permit duty free import of 30,000, 30,000 and 20,000 metric tons milled rice, fragrant rice, and husked rice, respectively.
The agreement also provides for a 50% reduction in tariffs on broken rice with the remaining tariff phased out over a five year period, noted Mr Thach.
He emphasized the point that many experts believe that the preferential border tax could potentially save the Vietnamese rice segment US$20 million annually, which is a tremendous savings.
Mr Thach continued to say that though Vietnam has been hailed as the globe’s third largest rice exporter, its rice consignments to the EU over the past few years can be described as lacklustre at best.
He noted that over recent years, Vietnamese rice exports dipped because far too many actors in the segment focused too much on planting high-yield rice. Meanwhile, other countries are concentrating on higher-quality rice production.
According to a report by the Vietnam Food Association, Mr Thach said, that rice exports to the EU market dropped from 24,000 to 20,000 metric tons in 2014, a further 18,000 tons in 2015 and again in 2016.
The EU is a demanding market with strict requirements for factors ranging from product quality to environmental standards as well as the brand prestige and production process, Mr Thach said.
In addition, though not being regular rice eaters, EU customers prefer rice of higher quality than Vietnamese rice. That’s why Vietnam has become less competitive against other rice exporting nations.
It is no secret that European consumers are fonder of fragrant rice from Thailand, while the Vietnamese rice segment is only now just beginning to focus its efforts to elevate its image, Mr Thach concluded.
Huynh Van Nghiep, deputy director of the Mekong Delta Rice Research Institution, in turn said it is hard for the Vietnamese industry to compete on an equal footing with Thailand, but the country can learn from the experience of Cambodia.
The Cambodian rice segment is on the mend, Mr Nghiep noted, due to its winning the world’s ‘best rice’ title for three consecutive years.
He suggested if the Vietnamese segment would switch away from growing high-yield and short-term rice varieties that the improved production practices would help create better tasting varieties of rice.
Therefore, to better compete with other countries in the Asian region, farmers and other actors in the industry should expeditiously shift from high-yield to superior-quality rice varieties, Mr Nghiep said.
VN targets US$3.5 billion of rice exports by 2020
The Ministry of Industry and Trade has unveiled a strategy for developing rice exports in 2016-20 that targets reversing a declining trend over the last two years and increasing overseas sales to US$3 billion in 2017.
It also targets a gradual shift towards export of high-quality, high-value, organic, nutritional, specialty and Vietnam brands of rice and rice-based products.
The export of low-quality white rice is expected to fall to 15% of total shipments by 2020 and 10% by 2025.
In the latter year medium-quality white rice will account for 20% and high-quality white rice, fragrant rice and glutinous rice for 60%.
The ministry will make efforts to diversify export markets, with a focus on markets with demand for high-quality rice. The ministry has sent the draft strategy to relevant ministries and industries to solicit their opinions.
Middle East targeted for agro-exports
The Middle East is not only a large market for Vietnamese agricultural products but a bridge to the European market, according to the Ministry of Agriculture and Rural Development.
Minister of Agriculture and Rural Development Nguyen Xuan Cuong discussed the issue outside of the Middle East business co-operation conference held recently in Hanoi.
According to Cuong, the Middle East includes 16 core countries with a population of nearly 400 million. Vietnam can meet many demands for agricultural products from these markets. For example, the annual demand for rice from the Middle East is about five to seven million tonnes and there is huge demand for vegetables, fruits and aquaculture products.
Trade turnover between the Middle East and Vietnam was low because of payment difficulties. Both sides have to use banks in other countries such as China and Singapore for transactions, which increases the financial risks, Cuong said.
"Agricultural product export turnover to the Middle East could reach over US$10 billion," he said.
The ministry has carried out extensive research into the Middle East, especially Iran. They will speed up the process, expecting to earn about US$2 billion from Iran.
Cuong urged businesses to improve the management, technology and quality of the products. He also encouraged farmers to collaborate to set up co-operatives for different products.
Vietnam’s export turnover of agriculture, aquaculture and forestry products was valued at US$32 billion last year. Statistics from the Ministry of Industry and Trade show that trade turnover with the Middle East had been on the rise in recent years.
Last year, total turnover reached US$10.9 billion, double that of 2011. Import turnover was US$2.8 billion and export turnover US$8.1 billion.
Domestic maker exports mooncakes to US, China
Mooncakes under Mondelez Kinh Do’s brands have been exported to the US and China so far this year for the upcoming Mid-Autumn Festival.
A representative from Mondelez Kinh Do said Kinh Do mooncakes have been exported to the US for several years and this year they hit retail shelves in the US in late August to serve Asian customers in the Mid-Autumn Festival.
This is the second year Mondelez Kinh Do exports mooncakes to China. This year, the mooncakes called Oreo have hit retail shelves in China.
For domestic market, the company supplies 84 kinds of mooncakes with different flavours. Average prices for a traditional cake is VND40,000-470,000 and VND600,000-VND3.2 million for a cake of best quality.
Mondelez Kinh Do Vietnam is a new brand company between the two confectionery makers, Mondelēz International and Kido Group.
Binh Duong urges investment in hi-tech fields
The southern province of Binh Duong will focus on the attraction of investment in hi-tech industries that are less labour intensive and more environmentally friendly.
The statement was made by Tran Thanh Liem, chairman of Binh Duong People’s Committee, at his meeting with James Ha, chairman of South Korea-based Sae-A Group, held in Binh Duong on Tuesday. Besides the existing industrial parks, Binh Duong Province plans to establish new industrial zones to welcome investment from foreign investors, Liem said, adding that by 2020, 14,000ha will be utilised for industrial parks in the province.
Binh Duong will also develop a number of specific beneficial policies related to administrative procedures, land and facility construction to attract foreign investment, with the expectation that enterprises will continue to invest and expand their production, contributing to economic development of the locality, Liem said.
The province expects to receive feedback and sincere comments from enterprises on issues related to business operation to make reasonable adjustments and avoid difficulties and obstructions in the investment progress, he said.
Speaking at the meeting, James Ha said that at present, Sae-A group has more than 70,000 employees, of which nearly 19,000 are working in Viet Nam.
The group currently operates in the field of textile and garments, however, Ha said, the group plans to expand its investment into electronics and hi-tech in the future.
According to the provincial People’s Committee, South Korea is Binh Duong’s third-largest investor after Taiwan, China and Singapore, with 619 projects valued at more than US$2.69 billion.
In the first months of 2017, many South Korean investors continued to pour investment capital into Binh Duong with 16 new projects and 17 projects registered to increase capital, amounting to total investment of $306 million.
Top Asia-Pacific reps to mull small business help
The 24th APEC Small and Medium Enterprises Ministerial Meeting (SMEMM) and related meetings, scheduled to take place in HCM City from September 10-15, are expected to enhance the competitiveness and creative capacity of micro-, small- and medium-sized enterprises (MSMEs) in the digital era.
The event will create valuable opportunities for businesses to exchange effective cooperation ideas in the context of globalisation and integration, said Ho Sy Hung, Director of the Enterprise Development Agency under the Ministry of Planning and Investment at a press conference in Ha Noi on Tuesday.
Ministers will discuss measures to facilitate business access to markets and deeper engagement in global value chains; enable MSMEs to get access to new technologies, improve management capacity, and increase their competitive edge; and promote entrepreneurship and business ethics.
They are also expected to adopt a number of documents, including a declaration on promoting start-up businesses, and a strategy developing green, sustainable and innovative SMEs.
A series of related meetings will take place during the event such as the 45th APEC Small and Medium-sized Enterprise Working Group Meeting, APEC Online to Offline (O2O) Forum, APEC Startup Forum, and Forum on APEC Digital Economy.
Established in 1989, APEC comprises 21 economies, including Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand, the US and Viet Nam.
Viet Nam joined APEC in 1998. SMEs employ more than 50 per cent of the workforce and contribute over 40 per cent of the GDP in Viet Nam.
HCM City sees retail sales boom during National Day holiday
Supermarkets and shopping malls as well as traditional markets in HCM City saw a strong uptick in sales during the National Day holidays, which this year lasted from September 2 to 4.
Co.opmart outlets on Nguyen Dinh Chieu, Ly Thuong Kiet, Dinh Tien Hoang, and Binh Trieu and Co.opXtra were crowded from September 1.
Do Quoc Huy, marketing director of Saigon Co.op, which owns the chain, said sales had been up 40 per cent from normal while footfall had doubled.
Fresh and processed foodstuffs and beverages were the top sellers, while sales of household utensils and clothes increased slightly.
Huynh Kim Thu Thuy, director of Co.opmart Dinh Tien Hoang, said the supermarket had increased stocks by 15-20 per cent and kept adding them to ensure there was no short supply.
It had also increased the number of checkout counters, she said.
Programmes to promote consumption of Vietnamese goods launched by many retailers on the occasion greatly contributed to higher sales.
Saigon Co.op has for instance launched the “Tu hao hang Viet” (Proud of Vietnamese Goods) programme, its largest promotion of the year, offering discounts of up to 50 per cent on thousands of products, hundreds of valuable gifts and many times higher points that normal.
Big C, which offered discounts of up to 50 per cent on more than 1,000 essential products during the holidays, said sales had risen by more than 30 per cent.
Fresh and processed foods, beers and other beverages were among the bestsellers, the supermarket said.
Ho Quoc Nguyen, public relations manager at Big C, said stocks had been increased by 30 per cent for the holidays.
The number of customers was up strongly thanks to the promotion programme and also daily entertainment activities held at its outlets, he said.
Sales also doubled at Lotte Mart supermarket, with processed products, seafood, beers and soft drinks being the biggest sellers.
A large number of people visited the Phu Tho Indoor Stadium for the 2017 Sales Promotion Fair, where Vietnamese goods were promoted.
According to the city Department of Industry and Trade, sales at the fair had been higher than expected thanks to many companies offering discounts of up to 49 per cent on products such as food, fashion, electronics and others, with fashion products being the most popular.
At traditional markets like Tan Dinh, Ba Chieu and Thi Nghe, business was slightly better than on normal days, with fresh and processed foods and beverages being the biggest sellers.
With supply being abundant, prices were steady during the holidays.
On September 4-5, sales of fruits, flowers and vegetarian foods at traditional markets increased sharply as customers shopped for the occasion of the full moon.
Vietnam, Laos sign cooperation deal in agriculture, forestry for 2017-18
The agriculture ministers of Vietnam and Laos signed a cooperation agreement on agriculture, forestry, fisheries, and rural development in 2017-2018 at a meeting in Hanoi on September 5.
Vietnam’s Minister of Agriculture and Rural Development Nguyen Xuan Cuong and Laos’ Minister for Agriculture and Forestry Liane Thykeo co-chaired the annual event on bilateral agro-forestry-fisheries ties.
Under the agreement, the two countries will focus on cooperating in science-technology and human resources training. The two sides will also increase trade promotion of Vietnamese and Lao agro-forestry products.
They agreed to promote investment, production and processing cooperation programmes in agriculture and forestry while removing difficulties for Vietnamese firms to expand investment in manufacturing activities in Laos.
Minister Cuong particularly underlined a joint programme on cattle breeding development, which he said is important to both Vietnam and Laos, and expected to be a breakthrough in agricultural development.
At the meeting, the two ministers also reviewed the implementation of the agreement signed between Vietnamese and Lao governments in agriculture and rural development in 2016-2017.
In the period, the two countries actively coordinated to carry out projects using non-refundable aid of the Vietnamese government for the Lao counterpart.
Specifically, an agricultural technical service centre in the north-eastern province of Xiangkhouang, built with total investment of 35.6 billion VND (1.5 million USD), was put into operation in December 2016.
The construction of a similar centre in the Laos’ eastern province of Houaphanh was launched in February 2017.
The two sides also held regular visits by high-level delegations, experts and technicians to share experience in agriculture, forestry, water resources, agricultural encouragement, and food safety.
The Vietnamese ministry pledged to support Laos to develop rural areas and diversify goods production, as the Lao side said the country is concentrating on developing production of agro-forestry-fishery products and building new rural areas.
Petrol price continues rising slightly
The Ministries of Industry and Trade, and Finance decided to raise the retail price of RON 92 petrol by 306 VND to maximum 17,792 VND (78 US cents) per litre from 3pm on September 5.
The price of E5 bio-fuel also rose by 285 VND to a maximum of 17,539 VND per litre, while the prices of diesel and kerosene up 155 VND and 149 VND to 13,950 VND a litre and 12,547 VND a litre, respectively.
Meanwhile, the maximum price of mazut was 11,148 VND per kilogram, an increase of 43 VND.
The average global price of RON 92 during the last 15 days prior to September 5 was 65.827 USD per barrel, while the figures for diesel 0.05S and kerosene were 63.823 USD and 63.547 USD per barrel, respectively.
An Giang earns over 500 million USD from export in 8 months
The Mekong Delta province of An Giang earned 506.3 million USD in the past eight months, up 6.5 percent year on year, fulfilling 61.7 percent of the yearly plan, reported the provincial Department of Industry and Trade.
The high result was mostly due to growth in exports of rice and frozen tra fish. In the reviewed time, the province shipped abroad 243,400 tonnes of rice for 112.6 million USD, equal to 92.7 percent of the revenue in the same period last year.
The province raked in 156.5 million USD for selling 81,300 tonnes of aquatic products.
At the same time, An Giang also earned 64 million USD in exports of garment and textile, up 2.9 percent year on year.
Vo Nguyen Nam, Director of the An Giang Department of Industry and Trade said that the province will continue providing local firms with market information, especially developments and policies of the Chinese market, while removing obstacles facing enterprises in case of negative developments in the markets.
The province will also provide early forecast on the demand and prices of major export products, thus helping local businesses design production plans, he added.
Vinacomin mines 24.58 million tonnes of coal in 8 months
The Vietnam National Coal and Mineral Industries Group (Vinacomin) has produced 24.58 million tonnes of coal in the first eight months of the year, accounting for 68.3 percent of the annual plan.
Of the total output, 21.38 million tonnes were consumed domestically while 866,000 tonnes were exported, raking in over 35.3 trillion VND (1.55 billion USD) in revenue.
In September, the group plans to mine 2 million tonnes of coal and sell 2.5 million tonnes, including 2.34 million tonnes in the domestic market and 155,000 tonnes for export.
Building a production and business plan for 2018 in accordance with the market demand and rational inventory balance will be the main target of the group. Vinacomin will pay due attention to its restructuring, with a focus placed on renovating techniques and technologies, organisation and management system, finance and workforce.
In addition, Vinacomin will also tighten management of natural resources and product quality, and join hands with local authorities to prevent coal losses.
Ho Chi Minh City’s economy on steady growth track
Ho Chi Minh City’s economy continued its steady growth in the first eight months this year, said the municipal authorities during a working session reviewing the city’s performance in the period on September 5.
Speaking at the event, Director of the municipal Department of Planning and Investment Su Ngoc Anh said the total retail value rose 10.3 percent annually to surpass 599.1 trillion VND (26 billion USD) during the period. The total export is estimated at 22.8 billion USD, up 13.6 percent while the industrial production index went up 7.31 percent.
Four key industries, namely mechanical engineering, electronics, chemicals – rubber – plastics, and food processing, continued expanding their markets. Investment in advanced equipment to improve quality and competitiveness surged 11.8 percent year-on-year.
Since early this year, the city has granted licences to 26,614 new firms with a total registered capital of over 358.89 trillion VND, marking 13.1 percent and 82.9 increases in the number of businesses and registered capital, respectively.
Up to 1,171 business households have switched their status to businesses. Meanwhile, the total foreign direct investment attraction hit 3.23 billion USD, representing a 1.57-fold increase annually.
Anh attributed the growth to the city’s support in delivering innovation, improving the business climate and refining start-up ecology. At the same time, the city has also facilitated technological transfer in agriculture to produce safe and quality farm produce.
The total agro-forestry-fisheries value was estimated at over 7.63 trillion VND, up 6.5 percent on the yearly basis.
Director of the municipal Department of Finance Phan Thi Thang said the city collected in excess of 224 trillion VND to the State budget, or 64.39 percent of the estimate and up 11.47 percent from the same period last year. The total spending stood at 33.58 trillion VND, or 47.54 percent of the estimate and up 20.64 percent.
Chairman of the municipal People’s Committee Nguyen Thanh Phong took the occasion to request agencies concerned to continue perfecting start-up ecology, encouraging innovation and improving the business climate.
Binh Duong calls for investment in less labour-intensive industries
The southern province of Binh Duong will focus on attracting investment in hi-tech, less labour-intensive and environmentally friendly industries in the time ahead.
Chairman of the provincial People’s Committee Tran Thanh Liem made the remark while meeting with CEO of the Republic of Korea (RoK)’s Sae-A group James Ha on September 5.
Liem noted his province will enlarge existing industrial parks and build new ones to welcome more foreign investors, thus expanding the total industrial park area to 14,000ha by 2020.
It is going to devise a number of concrete policies to attract foreign investment, hoping that foreign firms will step up operations in Binh Duong and help fuel local economic growth.
The provincial People’s Committee, departments and sectors are ready to provide favourable conditions in terms of administrative procedures, land and factory construction so as to give investors the best possible business environment, he said.
The official added Binh Duong also wants to receive sincere feedback on relevant issues from entrepreneurs in order to make appropriate adjustments.
For his part, James Ha said more than 7,000 of his group’s 19,000 employees in Vietnam are working in Binh Duong. Sae-A is currently concentrating on apparel production, but it intends to expand investment to electronics and high technology, which suits the local industrial development orientation.
According to the Binh Duong administration, the RoK is the third biggest foreign investor in the province, following China’s Taiwan and Singapore, with 619 projects worth over 2.69 billion USD in total. RoK investors have invested 306 million USD in 16 new projects and 17 existing ones so far this year.
Can Tho eyes partnership with Japan tourism agency
The Mekong Delta city of Can Tho wants to establish a strategic partnership with the Japan National Tourism Organization (JNTO)’s Vietnam office to attract more Japanese tourists to the city, said an official of the city.
Vice Chairman of the Can Tho People’s Committee Truong Hoai Nam made the proposal during a working session with Takahashi Ayumi, head of the JNTO’s Vietnam office, on September 9.
Nam said while Can Tho is a socio-economic hub of the Mekong Delta region, the number of tourists visiting the city is low compared to other localities in the region. Therefore, the city wants to cooperate with other partners to give a boost to the tourism sector.
The official also noted that the number of Japanese tourists visiting the Mekong Delta, including Can Tho, has to date increased nearly 10 percent from last year. He attributed the outcome to effective collaboration to promote tourism and tourist exchanges between the sides.
For his part, Takahashi Ayumi said Vietnam-Japan political relationship is at its best ever since it was established in 1973, thus opening up cooperation opportunities across multiple fields, including tourism.
He unveiled that JNTO Vietnam has planned a number of promotion events to introduce the Japanese tourism market to Vietnamese while helping Vietnam promote tourism in Japan.
The agency will also work with the Japanese Embassy in Vienam to organize more international cultural events, and lobby for easing Japan’s visa policy for Vietnamese tourists, among others.
Takahashi asked the Can Tho authorities to consider opening more air routes from Can Tho to Japanese major cities to facilitate travel between the sides.
According to JNTO’s statistics, Vietnamese visitors to Japan saw strong growth in the past 5 years. In the first 6 months of 2017, over 234,000 Vietnamese travelled to Japan, up 28 percent compared to the same period last year. Vietnamese were also among top spenders in Japan with an average spending of 237,000 JPY ( 2,166 USD) per person per trip.
Vietjet carries 260,000 passengers during holiday
The low-cost airline Vietjet Air operated about 1,500 flights, serving nearly 260,000 passengers during the National Day holiday (September 2-4).
The number of Vietjet Air’s passengers this holiday increased 27 percent year-on-year, with punctuality rate reaching 88.3 percent.
The airline also launched various programmes during its flights, such as presenting gifts and domestic flight tickets to customers.
On the occasion, the carrier announced a new route from Ho Chi Minh City to Jakarta (Indonesia) and opened the Hanoi – Yangon (Myanmar) route.
Currently, Vietjet Air boasts a fleet of 45 aircraft, including A320s and A321s, and runs over 350 flights per day. It currently operates 73 routes in Vietnam and across the region to Singapore, the Republic of Korea, China, Thailand, Indonesia, Myanmar, Malaysia and Cambodia.
Public disagree with toll cut of controversial BOT tollbooth
The Ministry of Transport, the People’s Committee of the Mekong Delta province of Tien Giang and investors yesterday met and agreed to cut down tolls for all vehicles through controversial Cai Lay BOT (Build-Operate-Transfer) tollbooth.
However, the toll cut has yet to reach public expectation while the BOT tollbooth has continued halting operation to wait for decision from the Ministry of Transport.
Specifically,
the toll will decrease from VND35,000 to VND25,000 for group 1 including less
than 12 seater vehicles, less than two ton trucks and buses; from VND50,000 to
VND35,000 for group 2 comprising 12-30 seater vehicles, 2-4 ton trucks; from
VND60,000 to VND40,000 for group 3 including 31 seater and wider vehicles, 4-10
ton trucks.
The
toll will be slashed from VND100,000 to VND70,000 for Group 4 of 10-18 ton
trucks and 20 feet container trucks; from VND180,000 to 140,000 for group 5 of
18 ton and heavier trucks and 40 feet container lorries.
The
new toll levels will be applied from August 21, 2017.
Owners
of vehicles in Groups 1 and 2 who are permanent residents in Phu Nhuan, My
Thanh Nam, Binh Phu and Phu An communes in Cai Lay district can travel through
the tollgate free of charge. They must not do transport business to enjoy the
fee exemption.
The
remaining vehicles in the four communes and buses operating in Tien Giang
province will see 50 percent reduction. The toll exemption and cut will be
effective before September 10 this year.
After
knowing the information, drivers and transport firms in the Mekong Delta have
disagreed with the toll reduction, saying that the tollbooth should be placed
in 12 kilometer Cai Lay bypass road not National Highway 1A where vehicles have
already paid road maintenance fee.
A
transport expert said that Cai Lay bypass road is separated from another
project to fortify road face along 26.5 kilometers of National Highway 1
although they were built by the same investor.
Specifically,
the Ministry of Transport permitted the investor to set up the investment
project of a road bypassing Cai Lay town on July 28, 2009 at Decision 2174.
The
ministry made Decision 3054 to approve the investment project, the bypass’
outline and survey estimates on October 20, 2009.
Meanwhile,
the Directorate for Roads of Vietnam Road sent Statement No.95 on
developing a bypass of National Highway 1A and fortifying the highway face in
Cai Lay town under BOT form on December 4, 2013.
Afterwards,
the ministry made Decision 4173 to approve the bypass and road face
reinforcement project. So the road face fortifying was just a pretext for the
investor to place the BOT tollbooth in the national highway, said the expert.
Replying
to the press, the Ministry of Transport still affirmed that the tollbooth
position is in accordance with the law.
Citing
Circular 159 by the Ministry of Finance that toll stations must be built in the
scope of projects, Mr. Nguyen Danh Huy, head of Public Private Partnership
Projects Management Board under the Ministry of Transport said that Cai Lay
tollbooth locates within the scope of the project.
Expenses for Long Thanh Airport's land clearance compensation rise
The People’s Committee of Dong Nai province yesterday had a working session with authorities of Long Thanh district to discuss and make the final decision about land clearance compensation and resettlement assistance of Long Thanh International Airport project.
Accordingly, total capital for the clearance compensation, building resettlement areas is estimated to be up to VND 23 trillion, an increase of VND 33 billion compared with the general estimation issued 6 months ago. Of these, VND 4 trillion will use for building two resettlement areas for 4,300 residents of the Long Thanh district.
According to Mr. Nguyen Ngoc Hung, Vice Director of Natural Resources and Environment Department of Dong Nai province, the fund for clearance, properties and plants compensation has been sharply increased up to VND 500 billion.
Today, the working delegation of Dong Nai province has a working session with the Ministries of Planning and Investment, Finance, Natural Resources and Environment to agree the feasibility study report before submitting for the Prime Minister’s approval.
More overseas Vietnamese companies invest in SHTP
Three overseas Vietnamese enterprises in the US have been granted with investment certificates in Saigon Hi-Tech Park (SHTP) in HCMC, which is an initial result from an investment promotion trip by SHTP management board to the country this year.
Three projects include US$215 million KNT Asia, $27 million Onsky Asia and $1 million Reqes software development center.
Expenses for Long Thanh Airport's land clearance compensation rise
The People’s Committee of Dong Nai province yesterday had a working session with authorities of Long Thanh district to discuss and make the final decision about land clearance compensation and resettlement assistance of Long Thanh International Airport project.
Accordingly, total capital for the clearance compensation, building resettlement areas is estimated to be up to VND 23 trillion, an increase of VND 33 billion compared with the general estimation issued 6 months ago. Of these, VND 4 trillion will use for building two resettlement areas for 4,300 residents of the Long Thanh district.
According to Mr. Nguyen Ngoc Hung, Vice Director of Natural Resources and Environment Department of Dong Nai province, the fund for clearance, properties and plants compensation has been sharply increased up to VND 500 billion.
Today, the working delegation of Dong Nai province has a working session with the Ministries of Planning and Investment, Finance, Natural Resources and Environment to agree the feasibility study report before submitting for the Prime Minister’s approval.
More overseas Vietnamese companies invest in SHTP
Three overseas Vietnamese enterprises in the US have been granted with investment certificates in Saigon Hi-Tech Park (SHTP) in HCMC, which is an initial result from an investment promotion trip by SHTP management board to the country this year.
Three projects include US$215 million KNT Asia, $27 million Onsky Asia and $1 million Reqes software development center.
The
certificates have recently granted at a ceremony in the US with the attendance
by the representative of the Consulate General of Vietnam in San Francisco.
Head
of SHTP management board Le Hoai Quoc welcomed the three new investors, once
again introduced that Saigon Silicon City (SSC) in SHTP is the place which HCMC
reserves for overseas Vietnamese businesses and committed to
strongly supporting companies during operation.
During
the trip, the board also witnessed a cooperation signing ceremony between
Allied Telesis and SSC to develop a $50 million smart operation center in SSC.
This is estimated to be a landmark in the development of SSC and a premise for
SHTP to create breakthrough in the near future.
After
the two events, many overseas Vietnamese companies have contacted the
management board to discuss investment in SHTP and SSC.
HoREA petitions to support low-income buyers
The Ho Chi Minh City Real Estate Association (HoREA) petitioned the State Bank of Vietnam to offer housing credit stimulus package to directly support buyers of social and commercial houses with the price of VND1 billion ($43,986).
In its document to the bank to give the feedback on amendment for the circular 36/2014, HoREA urged the bank to offer the credit package soon to help low-cost apartments. As per the HoREA’s petition, when housing market was frozen in 2008-2009 and 2011-2013, the inventories and bad debt in the sector were serious.
HoREA petitions to support low-income buyers
The Ho Chi Minh City Real Estate Association (HoREA) petitioned the State Bank of Vietnam to offer housing credit stimulus package to directly support buyers of social and commercial houses with the price of VND1 billion ($43,986).
In its document to the bank to give the feedback on amendment for the circular 36/2014, HoREA urged the bank to offer the credit package soon to help low-cost apartments. As per the HoREA’s petition, when housing market was frozen in 2008-2009 and 2011-2013, the inventories and bad debt in the sector were serious.
The
VND30 trillion (US$1.32 billion) housing credit package, which the Government
has provided for low income people has helped reducing inventories and clearing
bad debt. Thanks to the package, 56,000 beneficiaries have bought their own
houses.
Accordingly,
HoREA petitioned the bank to continue offering a such credit package.
In its opinion on amendment, HoREA said that the continuance of mid-term and long-term loans until 2018 will be a boost in supporting the economy’s growth because real estate markets is one of sector which boosts huge consumption.
Mining industry indicator continues to dip
Even though mining industry plays a pivotal role in the country’s economy, the industry dipped in two years because of difficult exploitation and dependence on world markets.
The mining production indicator in August has seen a year-on-year rise of 8.4 percent.
Amongst them, the mining sector dropped by 5 percent; the manufacturing sector increased by 12.4 percent; electricity production and distribution soared by 9.6 percent; and water supply and waste treatment sector leaped by 7.3 percent.
In eight months of the year, the industry production indicator represented a 6.7 percent year-on-year rise, 7.2 percent lower than the same period last year. For instance, mining sector dipped by 4.8 percent; meanwhile process sector increased by 10.4 percent; electricity production and distribution soared by 12.3 percent and water supply and waste treatment sector is up by 6.8 percent.
Accordingly, the manufacturing sector rose by 10.8 percent contributing 7.5 percentage point to the general increase; electricity production and distribution was up by 8.6 percent attributing 0.6 percentage point to the whole.
Amongst second level industries, metal production, computer and electronic product manufacturing, rubber and plastic product production, paper and paper product rose. Meantime, medical, pharmaceutical and herbal sector fell by 2.1 percent and crude oil and natural gas exploitation dipped by 10.1 percent.
Amongst localities, the northern province of Hai Phong has drastic growth of20.6 percent in industry indicator in eight months compared to same period followed by the northern province of Thai Nguyen with 18.1 percent; Bac Ninh with 14.1 percent and Ho Chi Minh City with 7.3 percent.
LHG issues 1.3mln shares to invest in Long Hau 3 industrial park
Long Hau Joint Stock Company (LHG) will issue 1.3 million shares at a cost of VND 13,000 per share for its current shareholders.
In its opinion on amendment, HoREA said that the continuance of mid-term and long-term loans until 2018 will be a boost in supporting the economy’s growth because real estate markets is one of sector which boosts huge consumption.
Mining industry indicator continues to dip
Even though mining industry plays a pivotal role in the country’s economy, the industry dipped in two years because of difficult exploitation and dependence on world markets.
The mining production indicator in August has seen a year-on-year rise of 8.4 percent.
Amongst them, the mining sector dropped by 5 percent; the manufacturing sector increased by 12.4 percent; electricity production and distribution soared by 9.6 percent; and water supply and waste treatment sector leaped by 7.3 percent.
In eight months of the year, the industry production indicator represented a 6.7 percent year-on-year rise, 7.2 percent lower than the same period last year. For instance, mining sector dipped by 4.8 percent; meanwhile process sector increased by 10.4 percent; electricity production and distribution soared by 12.3 percent and water supply and waste treatment sector is up by 6.8 percent.
Accordingly, the manufacturing sector rose by 10.8 percent contributing 7.5 percentage point to the general increase; electricity production and distribution was up by 8.6 percent attributing 0.6 percentage point to the whole.
Amongst second level industries, metal production, computer and electronic product manufacturing, rubber and plastic product production, paper and paper product rose. Meantime, medical, pharmaceutical and herbal sector fell by 2.1 percent and crude oil and natural gas exploitation dipped by 10.1 percent.
Amongst localities, the northern province of Hai Phong has drastic growth of20.6 percent in industry indicator in eight months compared to same period followed by the northern province of Thai Nguyen with 18.1 percent; Bac Ninh with 14.1 percent and Ho Chi Minh City with 7.3 percent.
LHG issues 1.3mln shares to invest in Long Hau 3 industrial park
Long Hau Joint Stock Company (LHG) will issue 1.3 million shares at a cost of VND 13,000 per share for its current shareholders.
Total
revenue from selling shares will be used for land clearance compensation work
of Long Hai 3 Industrial Park project.
The
park covers an area of 124 hectares with total investment capital up to VND
1,1trillion. It is expected to be completed and put into operation in the 4th
quarter of 2019.
For the first half this year, LHG said it profited VND 26.7billion, decrease of 31 percent compared with the same period last year.
SVC sets revenue target at VND 14,5trln
The Sai Gon General Service Corp (Savico- SVC) shareholders have just approved the plan to distribute 12 percent dividend payment rate in 2016.
For the first half this year, LHG said it profited VND 26.7billion, decrease of 31 percent compared with the same period last year.
SVC sets revenue target at VND 14,5trln
The Sai Gon General Service Corp (Savico- SVC) shareholders have just approved the plan to distribute 12 percent dividend payment rate in 2016.
As
plan, SVC will close the shareholder list for this payout on September 15 and
is planning a cash dividend payout at a ratio of 12 percent.
The
12 percent dividend is estimated to pay on September 27.
In 2017, SVC said the revenue target will reach at VND 14,5trillion, pre-tax & after-tax profit at VND 250billion and VND 200 billion respectively.
HOREA reports no new case of social housing loan
After the housing credit package worth VND30 trillion (US$1.32 billion) ended last year, there has been no new case getting social housing loan according to Housing Law 2014 so far.
That is quoted from a report which chairman of HCMC Real Estate Association (HOREA) Le Hoang Chau has recently sent to authorized agencies.
According to a decision signed by the Prime Minister, social housing buyers will continue enjoying the preferential interest rate of 4.8 percent a year after the package ended last year.
However, the extension has not been materialized for new cases partly because the Government has yet arranged budget funds for four banks Vietcombank, Vietinbank, Agribank and BIDV to carry out the policy. So far, only VND1.5 trillion has been allocated for the Vietnam Bank for Social Policies to loan social housing buyers.
HOREA has proposed the Ministry of Planning and Investment, the Ministry of Finance, the Ministry of Construction to soon submit to the Government and the National Assembly’s Standing Committee a budget capital arrangement plan to implement the social housing policy.
CII to spend VND3.4 trillion on infrastructure projects
HCMC Infrastructure Investment JSC (CII) plans to spend VND3.4 trillion on infrastructure and real estate projects in the next three years.
Between 2018 and 2020, CII will pour VND3.4 trillion into some of its key projects, including VND1.64 trillion for infrastructure projects and VND1.76 trillion for the property segment, the company said in a statement sent to investors on August 29.
The company will invest VND300 billion in the second stage of the Binh Trieu road and bridge project and VND520 billion to expand Hanoi Highway. In addition, CII will purchase shares at potential projects and companies where it has yet to become a major investor.
According to CII, mergers and acquisitions (M&A) projects will help it secure long-term growth and raise holdings at large projects such as the Trung Luong-My Thuan Expressway. CII will focus on the Mekong Delta and HCMC, where it has developed a solid portfolio of build-operate-transfer (BOT) projects.
For the property sector, CII will invest VND950 billion in Thu Thiem Riverpark high-class condo project in cooperation with Hong Kong Land. Besides, it will develop a high-rise building project with a total cost of VND310 billion.
At the Thu Thiem area in HCMC’s District 2, CII will develop a lake project and get more land there in exchange.
Meanwhile, CII will focus on its existing water supply projects, especially the key ones such as Tan Hiep 2 and Cu Chi. In the next three years, however, the firm will not invest in new water supply projects or conduct M&A deals with water supply companies.
To mobilize capital for the scheme, CII will issue additional shares for existing shareholders at a 2-for-1 ratio within this year. It expects to sell the shares at VND15,000 each, raising VND1.85 trillion.
Besides, CII will use its own equity and take out loans worth VND1.55 trillion. It targets to obtain nearly VND1.5 trillion in revenue next year and VND2 trillion in 2020 while its profit growth is estimated at 18% a year during the period.
Regarding risks at BOT projects, CII general director Le Quoc Binh said the firm has stopped seeking investment opportunities at small BOT projects since 2015. It is difficult to find out a profitable BOT project due to sensitive issues at present.
CII will concentrate on large BOT projects with investment capital from VND10 trillion as their scale and procedures are different from small ones, he said.
Price of material shrimp increases in August
Price of material shrimp, especially tiger prawn, was on the rise in August, said the Ministry of Agriculture and Rural Development.
The surge is attributed to increasing demand of aquatic product processing plants due to a shortage of material shrimp.
In Bac Lieu, for example, the price of tiger prawn rose 20,000 VND against last month to 215,000 VND while that of white leg shrimp slightly climbed 1,000-3,000 VND to 130,000 VND per kilo.
Raining in August made a huge change in pond temperature, resulting in a drop in salinity level. Sudden change of weather also weakened shrimp’s resistance and growth.
However, local authorities have increased monitoring of breeding facilities and warning of diseases on aquatic products, ensuring stable growth of brackish water shrimp.
Breeding areas for brackish water shrimp nationwide reached more than 679,000ha in eight months, a rise of 4.2 percent year-on-year. Meanwhile, white-leg shrimp farms covered 63,000ha and that of tiger prawn was 580,900ha.
Over 12,400 new firms set up in August
As many as 12,404 new enterprises were set up in August with total capital of 131 trillion VND (5.76 billion USD), up 6.2 percent in volume and 39 percent in value, reported the General Statistics Office (GSO).
In the first eight months of this year, 85,357 firms were established with combined capital of 822 trillion VND (36.16 billion USD), up 16 percent and 44.8 percent over the same period last year, respectively.
Total capital pumped into the economy in the period was 1,930 trillion VND (84.92 billion USD), including 1,108 trillion VND added to nearly 24,700 existing firms.
The GSO revealed that 19,154 enterprises resumed their operation, an increase of 2.4 percent year on year.
Wholesale and retail sector drew the largest new businesses with 30,700 firms, followed by construction sector with 11,000 enterprises and processing-manufacturing sector, 11,000 firms.
In eight months, the northern midland and mountainous regions saw the highest rise in new firms, with 3,700 enterprises, up 31.8 percent, and the Central Highlands region, with 2,200 firms, a rise of 25.4 percent.
The GSO also reported that the number of dissolved enterprises in eight months were 7,754, an increase of 3.7 percent year on year, including 7,146 firms with capital of 10 billion VND, accounting for 92.2 percent.
At the same time, 45,776 firms halted their operation, a rise of 13.3 percent, including 28,545 enterprises waiting for dissolving.
Vietnamese company installs equipment in Brunei
Lilama 69-2 Company, a subsidiary of the Lilama Corporation, has completed the installation of its equipment at an Air Liquide plant in Kuala Belait, Brunei.
This is the first equipment installation project of Lilama 69-2 overseas.
To date, all equipment of the production line has been installed at the plant. A system comprising of five storage tanks for liquid Argon (LAR) and two tanks for liquid Nitrogen (LIN) has been completed. Meanwhile, pipeline and measurement system installation is underway.
Lilama 69-2 is scheduled to finish the whole project in October for the operation of the plant.
Air Liquide is one of the traditional partners of Lilama 69-2. The two sides have signed many contracts related to production line installation of the Brunei company’s plants in Vietnam.
After the completion of this project, Lilama 69-2 will continue its work in other plants of Air Liquide in Brunei and Singapore.
Bargasse-based electricity a possibility
The Vietnam Sugarcane and Sugar Association (VSSA) hopes to set up power plants that run on sugarcane by-products.
VSSA Chairman Pham Quoc Doanh said at the fifth annual International Sugarcane Conference recently held in the central province of Binh Thuan, that Vietnam's 41 sugar factories annually produced up to 4.5 million tonnes of bagasses, the fibrous remains after the juice is extracted from the cane. He said this could generate up to 1.4 billion kilowatts of electricity per year.
By 2020, the country will produce about 20 million tonnes of sugarcane which can turn out 2,400 megawatts of electricity.
Doanh said that if Vietnam could manage to process these sugar by-products, they should eventually produce 10 percent of the national electricity turnover. Countries within the Asia Pacific region, such as Brazil, Thailand or the Philippines, have successfully used bagasse to generate electricity.
Electricity generated by bagasse is a clean alternative source which lessens dependence on thermal power or fossil fuels and help reduce hydro power plant production during the dry season.
Pham Hong Duong, Chairman of TTC Bien Hoa Sugar Corporation, told the conference that the price difference between bagasse-based electricity in Vietnam and Thailand and the Philippines was the main reason why not many power plants have invested in this form of energy.
According to Duong, the current price for each kilowatt of electricity generated by bagasse in Vietnam is roughly 0.05 USD, while the same amount costs 0.11 USD in Thailand and 0.13 USD in the Philippines.
The conference, held in Phan Thiet city, was co-organised by the VSSA and TTC Group.
Dong Nai records 1.4 billion USD trade surplus in eight months
The southern province of Dong Nai enjoyed a trade surplus of nearly 1.4 billion USD in the first eight months of the year, according to the provincial Statistics Office.
In the eight-month period, the province shipped nearly 11 billion USD worth of products to foreign countries, a year-on-year increase of 11 percent.
The trade surplus was contributed by key staples like footwear (1.9 billion USD, up 9.4 percent), garments (over 1 billion USD, up 8.2 percent) and wooden furniture (722 million USD, up 12.3 percent).
The provincial People’s Committee said that the footwear sector has witnessed the highest export turnover in the past years. Foreign direct investment (FDI) companies like Changsin, Taekwang Vina and Pouchen have enjoyed sound and stable growth. They are committing to raising production capacity to meet orders from the world’s big footwear brands in the coming time.
Despite facing fierce competition with Chinese, Indian and Bangladeshi enterprises, Vietnamese garment businesses still ensure stable orders thanks to their prestige and product quality.
Regarding wooden products, numerous firms have sought new markets while taking advantage of the free trade agreements signed with the Republic of Korea and Japan to boost their exports.
Meanwhile, several products saw high export growth like fibre (795 million USD, up 25.6 percent), machines and equipment (670 million USD, up 22.9 percent), computers and electronic products (318 million USD, up 22.8 percent).
High export prices of agricultural products also contributed to the province’s export revenue.
The largest importers of Dong Nai goods in the period were the US with revenue of 2.54 billion USD, China with 944 million USD and Japan with 934 million USD.
Gov’t cuts inspections on some imports
Prime Minister Nguyen Xuan Phuc has issued a decision repealing a list of 114 products and goods subject to pre-import quality inspection, cutting inspections on these products from two times to one.
The list was issued by then-PM Nguyen Tan Dung on March 7, 2006.
The repeal will take effect from October 5, 2017, aiming to reduce customs clearance time spent on these 114 products, which currently undergo two inspections, before and after they are officially imported.
This move is expected to aid businesses as well as consumers. The listed products will now only be inspected once they’ve already been imported.
The goods, which will no longer receive pre-import quality inspections, include medical equipment and facilities, vaccines, aquaculture feed, instant seafood products, pesticides, fertilisers, veterinary drugs and raw materials for veterinary medicine and animal feed.
The list also contains protective helmets for motorcyclists, children’s helmets, kettles, irons, electric cookers, electric ovens, electric pans, electric grills and toys for children under 36 months of age.
Some types of explosive products, explosion-proof equipment used in mining, cranes, construction machines for traffic works, tractors, some types of cement products, reinforced concrete beams, industrial safety helmets, insulated gloves, elevators and escalators will also no longer be inspected twice.
Vietnamese firm starts building fish trawler for Canada
Ha Long Shipbuilding Co., Ltd held a keel-laying ceremony on August 31 to mark the start of the construction of a fishing trawler for Hill Enterprises from Canada.
The ship for offshore fishing will be 29m in length, 10m wide and 5m high, following Canada’s and international fishing vessel safety regulations.
It will have special equipment for locating fish and a cold cellar for fish storage.
It will be the first fishing vessel Ha Long Shipbuilding Company builds for a Canadian partner.
August retail sales in huge surge
Vietnam’s total revenue from retail sales and services reached 2.58 quadrillion VND (114.7 billion USD) in the first eight months of this year, a year on year increase of 10.3 percent, reported the General Statistics Office (GSO).
The figure amounted to an 8.9 percent increase, excluding the price factor, the highest rise recorded since the beginning of this year, said GSO domestic trade expert Vu Manh Ha, adding that the figure was also higher than 8.5 percent growth of the same period last year.
Ha attributed the growth in purchasing power to surges in demand for accommodation and catering services after high school graduation and university examinations as well in essential goods for the new school year which starts in September.
Recovery in revenue from accommodation and catering services in four central provinces – Ha Tinh, Quang Binh, Quang Tri and Thua Thien-Hue - after last year’s environmental disaster caused by Formosa also contributed to the retail sales increase, he said.
From January to August, revenue of retail sales reached 1.93 quadrillion VND (86.1 billion USD), accounting for three quarters of total revenue, a yearly rise of 10.3 percent. Sectors posting significant growth included textile and garments, up 14 percent; equipment and home appliances, up 11.6 percent; food and foodstuff, up 10.6 percent; and transportation, up 7.6 percent.
Revenue from accommodation and catering services stood at 318 trillion VND (14.1 billion USD), an increase of 11.3 percent against the figure in the same period last year.
Meanwhile, the tourism sector experienced a revenue increase of 11 percent year-on-year in the first eight months to 23.1 trillion VND (1.26 billion USD), with several localities witnessing significant growth, such as the northern province of Bac Giang with 25.1 percent; the central province of Khanh Hoa (23 percent); HCM City (12.2 percent) and the southern province of Ba Ria – Vung Tau (12 percent).
The Association of Vietnam Retailers has forecast that the country’s retail turnover will rise to 179 billion USD by 2020.
Vietnam-Australia trade rises 4.7 percent each year: MoIT
Six years after implementing the ASEAN-Australia-New Zealand Free Trade Area, trade between Vietnam and Australia has increased 4.7 percent each year on average, according to the Ministry of Industry and Trade (MoIT).
Last year, trade between the two countries reached 5.26 billion USD, up 6.5 percent from 2015, with Vietnam’s trade surplus sitting at 480 million USD.
During a conference held by the Department of Asian Market on August 31, the MoIT said that Australia has high demand for goods from Asia-Pacific and has become an important market for Vietnam.
Popular Vietnamese exports to Australia include aquatic products, consumer goods, apparel, footwear and wooden products due to preferential tax deals in the ASEAN-Australia-New Zealand Free Trade Area, added the ministry.
HCM City calls for foreign investments
Ho Chi Minh City authorities, on August 31, held a meeting with foreign consuls general in the city to discuss orientations to develop the southern metropolis and joint works to increase foreign capital.
Speaking at the function, Chairman of the municipal People’s Committee Nguyen Thanh Phong stated HCM City is committed to improving the local business climate to welcome long-term operations of foreign investors.
Phong said the city wants to learn from experience of cities around the world in terms of growth and living quality, asking participating consuls general to share initiatives and collaboration to help tackle the municipal development challenges.
HCM City leaders presented the hub’s master planning for growth by 2020 and nine major projects as well as its progress of becoming a smart city.
They expected the consuls general to become bridges connecting potential foreign investors to the city’s projects.
Singaporean Consul-General Leow Siu Liu acknowledged the city’s efforts to ensure strong development and boost people’s living standards.
Expressing her delight at the local development planning and seven breakthrough programmes for 2016-2020, she stressed the consuls general will inform business associations and firms at home on investment opportunities in the city.
At the meeting, the authorities also fielded questions by the diplomats.
In the first half of 2017, the municipal Gross Regional Domestic Product grew 7.76 percent, up 7.47 percent from the same period last year. As of August, the city recorded 22.8 billion USD in export revenue, an annual increase of 13.6 percent, and 650 new and extended FDI projects totalling 1.4 billion USD.
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.
The information has been revealed by 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, said deputy director of the provincial Department of Industry and Trade.
Currently, there are 4,200 enterprises with a total registered capital of 45 trillion VND (2 billion USD) in Hau Giang. The province has so far attracted 40 foreign and domestic investors, who have poured capital worth 760 million USD and 66.4 trillion VND, respectively, in the local industrial zones and complexes.
PV Drilling secures 6 million USD deal with KrisEnergy
The PetroVietnam Drilling & Well Service Corporation (PV Drilling) has signed a contract worth over 6 million USD to offer jack-up drilling services to Singapore-based KrisEnergy.
Accordingly, the PV Drilling I jack-up rig will be used for the exploration of six fixed and two optional wells in the Gulf of Thailand’s block G10/48, where KrisEnergy holds an effective 89% working interest in and is the operator.
The work is scheduled to start in October 2017.
The contract is the second drilling deal that PV Drilling has secured this year with foreign partners.
Previously, it served Total E&P Myanmar’s 164-day drilling campaign in blocks M5 and M6 of Myanmar's sea.
Military Bank, VPBank to augment charter capital
The State Bank of Vietnam recently approved proposals to raise charter capital at the Military Commercial Joint Stock Bank (MB) and the Vietnam Prosperity Joint Stock Commercial Bank (VPBank).
The MB plans to augment its charter capital from nearly 17.13 trillion VND (753.72 million USD) to 18.15 trillion VND (798.6 million USD).
Meanwhile, VPBank aims to boost its charter capital from nearly 14.06 trillion VND (618.64 million USD) to 15.7 trillion VND (690.8 million USD).
The increases were agreed by MB and VPBank shareholders at their annual meetings last April.
The central bank requested MB and VPBank raise charter capital in line with legal regulations, including those on share ownership limits for shareholders.
Nearly 102,000 labourers register in August
A total of 101,700 labourers were registered at newly-established businesses in August, up 8.8 percent year-on-year, according to the General Statistics Office.
The number of workers at industrial firms also increased by 4.3 percent in August compared with the same period last year.
The number of labourers at State-owned enterprises fell by 4 percent while the figure at non-State enterprises rose by 0.9 percent and at foreign direct investment (FDI) firms, up 7.6 percent.
Last month, there were 12,404 newly-established enterprises with total registered capital at 131.4 trillion VND (5.78 billion USD), up 6.2 percent in volume and 39 percent in capital against the previous month.
Hà Nội enjoys steady growth in all key sectors
Hà Nội’s economy has expanded since the beginning of this year with steady growth recorded in all key sectors of industry, trade, tourism and services and agriculture, reported the municipal People’s Committee.
The city’s industrial production index grew 6.5 per cent in the first eight months of 2017, of which the mining industry rose 7.1 per cent. The manufacturing and processing sector expanded 6.6 per cent while electricity production and distribution registered a 6.1 per cent increase. The water supply and waste treatment sector saw growth of 3.1 per cent.
During the January-August period, Hà Nội’s export turnover enjoyed a year-on-year increase of 8.5 per cent to $7.6 billion.
Since the beginning of the year, Hà Nội has welcomed more than 2.3 million foreign visitors, up 22.7 per cent year-on-year.
The number of newly-established business in Hà Nội rose by 14 per cent to 16,714 in the first eight months of 2017, with combined registered capital of approximately VNĐ130 trillion, up 4 per cent year on year. Statistics showed that over 223,900 enterprises are operating in the capital city. In the reviewed period, some 93,000 business registration applications were submitted online.
The municipal administration has provided free consultancy for nearly 50,000 firms and individuals, both in and outside the country, who are doing business in the city.
The city welcomed 114 non-budget investment projects, worth VNĐ71 trillion; 22 Public-Private Partnership (PPP) projects with a total investment of VNĐ60 trillion; and $1.74 billion in foreign direct investment (FDI) projects. So far, Hà Nội has had 128 PPP projects with a combined investment of VNĐ333 trillion, of which eight projects have been completed and 120 others are underway or preparing procedures.
Chairman of the municipal People’s Committee Nguyễn Đức Chung emphasised that attracting investment is a very important task for the city though many challenges remain. Hà Nội has taken a wide range of measures to create favourable conditions for investors by stepping up the application of information technology and holding dialogues with businesses to remove difficulties they face, he added.
In the remaining months, Hà Nội will focus on stimulating consumption, exchanging goods with other localities, and promoting exports while managing the domestic market and developing tourism products.
The city will approve a planning scheme for developing industrial clusters by 2020 with a vision to 2030 while calling on more investors to build local industrial parks. It will take measures to remove difficulties in terms of procedures for investors and pay attention to big domestic and foreign-invested projects so that they could be licensed in 2017.
Military Bank, VPBank to augment charter capital
The State Bank of Vietnam recently approved proposals to raise charter capital at the Military Commercial Joint Stock Bank (MB) and the Vietnam Prosperity Joint Stock Commercial Bank (VPBank).
The MB plans to augment its charter capital from nearly 17.13 trillion VND (753.72 million USD) to 18.15 trillion VND (798.6 million USD).
Meanwhile, VPBank aims to boost its charter capital from nearly 14.06 trillion VND (618.64 million USD) to 15.7 trillion VND (690.8 million USD).
The increases were agreed by MB and VPBank shareholders at their annual meetings last April.
The central bank requested MB and VPBank raise charter capital in line with legal regulations, including those on share ownership limits for shareholders.
Gov’t urges focus on transport
Deputy Prime Minister Trinh Dinh Dung has asked ministries, localities and relevant agencies to address stumbling blocks facing key transport projects in order to accelerate their progress.
Dung said some transport projects have been slowed down due to difficulties in land clearance, slow procedure completion, or inappropriate investment allocation. The delayed projects include Tan Vu-Lach Huyen road, Da Nang-Quang Ngai expressway, Ca Pass tunnel, and the HCM highway running through Central Highlands.
The Deputy Prime Minister asked the transport ministry, relevant sectors, and localities to review the documents and procedures of these projects as well as clarify authority for their completion to the National Assembly, Government, Prime Minister, sectors and localities.
Difficulties which are slowing down the projects must be reported to authorized agencies.
During the project implementation, land clearance, compensation and resettlement must be put in focus. Sectors must also step up supervision to improve projects’ quality and efficiency and reduce waste, he said.
He ordered the transport ministry to ask investors and project management boards to work closely with local authorities in project implementation, especially land clearance, and to continue to collaborate with construction ministry to control project costs.
He urged early procedure completion for key projects such as North-South expressway in the east, expansion of Tan Son Nhat Aiport and Long Thanh Aiport.
People’s committees of central-level cities have been ordered to stabilise supply and costs of materials to meet construction progress.
The Ministry of Natural Resources and Environment is in charge of reviewing mines of construction materials to ensure their reserves.
Vinatex visits Armenia
After a new trade deal, a Vietnamese company is hoping to add a new country to their roster of important trading partners: Armenia.
A delegation of the Viet Nam National Textile and Garment Group (Vinatex) has recently made a fact-finding trip to Armenia to seek partners for production projects. Viet Nam is the first country to sign a free trade agreement with the Eurasian Economic Union (EAEU) that includes Armenia.
Vinatex general director Le Tien Truong said that during their stay, the group’s representatives held working sessions with a deputy foreign minister, the minister of economic development and investment, and some major businesses in Yerevan, the capital city of Armenia.
He said Vinatex will consider establishing production and business cooperation with big companies in Armenia that already have distribution networks in Russia and the EU. In the initial stage, Vinatex will mainly contribute machinery and production administration.
At the meetings, the Armenian Government expressed its desire to cooperate with major firms with much experience in production management like Vinatex, so as to revive the local garment industry and boost exports.
It also promised to encourage investment, create favourable conditions for foreign investors, and provide special mechanisms for Vietnamese investors through cooperation policies, multilateral and bilateral cooperation agreements, and granting of work visas, Truong added.
According to Vinatex, 94 businesses are operating in the textiles and garment industry of Armenia. The country exported US$50 million and imported $170 million worth of textile and garment products in 2014.
Despite their small scale, Armenian firms have experience in working with big fashion brands of Italy and Germany such as La Perla, Moncler, Armani and Porsche.
New kinds of mooncakes ready
A new full-moon season starts in one month and confectioneries nationwide are ready with many kinds of mooncakes with new flavours.
Along with improving product quality, companies have invested in creating new products with attractive designs and packaging.
In 2017, SVC said the revenue target will reach at VND 14,5trillion, pre-tax & after-tax profit at VND 250billion and VND 200 billion respectively.
HOREA reports no new case of social housing loan
After the housing credit package worth VND30 trillion (US$1.32 billion) ended last year, there has been no new case getting social housing loan according to Housing Law 2014 so far.
That is quoted from a report which chairman of HCMC Real Estate Association (HOREA) Le Hoang Chau has recently sent to authorized agencies.
According to a decision signed by the Prime Minister, social housing buyers will continue enjoying the preferential interest rate of 4.8 percent a year after the package ended last year.
However, the extension has not been materialized for new cases partly because the Government has yet arranged budget funds for four banks Vietcombank, Vietinbank, Agribank and BIDV to carry out the policy. So far, only VND1.5 trillion has been allocated for the Vietnam Bank for Social Policies to loan social housing buyers.
HOREA has proposed the Ministry of Planning and Investment, the Ministry of Finance, the Ministry of Construction to soon submit to the Government and the National Assembly’s Standing Committee a budget capital arrangement plan to implement the social housing policy.
CII to spend VND3.4 trillion on infrastructure projects
HCMC Infrastructure Investment JSC (CII) plans to spend VND3.4 trillion on infrastructure and real estate projects in the next three years.
Between 2018 and 2020, CII will pour VND3.4 trillion into some of its key projects, including VND1.64 trillion for infrastructure projects and VND1.76 trillion for the property segment, the company said in a statement sent to investors on August 29.
The company will invest VND300 billion in the second stage of the Binh Trieu road and bridge project and VND520 billion to expand Hanoi Highway. In addition, CII will purchase shares at potential projects and companies where it has yet to become a major investor.
According to CII, mergers and acquisitions (M&A) projects will help it secure long-term growth and raise holdings at large projects such as the Trung Luong-My Thuan Expressway. CII will focus on the Mekong Delta and HCMC, where it has developed a solid portfolio of build-operate-transfer (BOT) projects.
For the property sector, CII will invest VND950 billion in Thu Thiem Riverpark high-class condo project in cooperation with Hong Kong Land. Besides, it will develop a high-rise building project with a total cost of VND310 billion.
At the Thu Thiem area in HCMC’s District 2, CII will develop a lake project and get more land there in exchange.
Meanwhile, CII will focus on its existing water supply projects, especially the key ones such as Tan Hiep 2 and Cu Chi. In the next three years, however, the firm will not invest in new water supply projects or conduct M&A deals with water supply companies.
To mobilize capital for the scheme, CII will issue additional shares for existing shareholders at a 2-for-1 ratio within this year. It expects to sell the shares at VND15,000 each, raising VND1.85 trillion.
Besides, CII will use its own equity and take out loans worth VND1.55 trillion. It targets to obtain nearly VND1.5 trillion in revenue next year and VND2 trillion in 2020 while its profit growth is estimated at 18% a year during the period.
Regarding risks at BOT projects, CII general director Le Quoc Binh said the firm has stopped seeking investment opportunities at small BOT projects since 2015. It is difficult to find out a profitable BOT project due to sensitive issues at present.
CII will concentrate on large BOT projects with investment capital from VND10 trillion as their scale and procedures are different from small ones, he said.
Price of material shrimp increases in August
Price of material shrimp, especially tiger prawn, was on the rise in August, said the Ministry of Agriculture and Rural Development.
The surge is attributed to increasing demand of aquatic product processing plants due to a shortage of material shrimp.
In Bac Lieu, for example, the price of tiger prawn rose 20,000 VND against last month to 215,000 VND while that of white leg shrimp slightly climbed 1,000-3,000 VND to 130,000 VND per kilo.
Raining in August made a huge change in pond temperature, resulting in a drop in salinity level. Sudden change of weather also weakened shrimp’s resistance and growth.
However, local authorities have increased monitoring of breeding facilities and warning of diseases on aquatic products, ensuring stable growth of brackish water shrimp.
Breeding areas for brackish water shrimp nationwide reached more than 679,000ha in eight months, a rise of 4.2 percent year-on-year. Meanwhile, white-leg shrimp farms covered 63,000ha and that of tiger prawn was 580,900ha.
Over 12,400 new firms set up in August
As many as 12,404 new enterprises were set up in August with total capital of 131 trillion VND (5.76 billion USD), up 6.2 percent in volume and 39 percent in value, reported the General Statistics Office (GSO).
In the first eight months of this year, 85,357 firms were established with combined capital of 822 trillion VND (36.16 billion USD), up 16 percent and 44.8 percent over the same period last year, respectively.
Total capital pumped into the economy in the period was 1,930 trillion VND (84.92 billion USD), including 1,108 trillion VND added to nearly 24,700 existing firms.
The GSO revealed that 19,154 enterprises resumed their operation, an increase of 2.4 percent year on year.
Wholesale and retail sector drew the largest new businesses with 30,700 firms, followed by construction sector with 11,000 enterprises and processing-manufacturing sector, 11,000 firms.
In eight months, the northern midland and mountainous regions saw the highest rise in new firms, with 3,700 enterprises, up 31.8 percent, and the Central Highlands region, with 2,200 firms, a rise of 25.4 percent.
The GSO also reported that the number of dissolved enterprises in eight months were 7,754, an increase of 3.7 percent year on year, including 7,146 firms with capital of 10 billion VND, accounting for 92.2 percent.
At the same time, 45,776 firms halted their operation, a rise of 13.3 percent, including 28,545 enterprises waiting for dissolving.
Vietnamese company installs equipment in Brunei
Lilama 69-2 Company, a subsidiary of the Lilama Corporation, has completed the installation of its equipment at an Air Liquide plant in Kuala Belait, Brunei.
This is the first equipment installation project of Lilama 69-2 overseas.
To date, all equipment of the production line has been installed at the plant. A system comprising of five storage tanks for liquid Argon (LAR) and two tanks for liquid Nitrogen (LIN) has been completed. Meanwhile, pipeline and measurement system installation is underway.
Lilama 69-2 is scheduled to finish the whole project in October for the operation of the plant.
Air Liquide is one of the traditional partners of Lilama 69-2. The two sides have signed many contracts related to production line installation of the Brunei company’s plants in Vietnam.
After the completion of this project, Lilama 69-2 will continue its work in other plants of Air Liquide in Brunei and Singapore.
Bargasse-based electricity a possibility
The Vietnam Sugarcane and Sugar Association (VSSA) hopes to set up power plants that run on sugarcane by-products.
VSSA Chairman Pham Quoc Doanh said at the fifth annual International Sugarcane Conference recently held in the central province of Binh Thuan, that Vietnam's 41 sugar factories annually produced up to 4.5 million tonnes of bagasses, the fibrous remains after the juice is extracted from the cane. He said this could generate up to 1.4 billion kilowatts of electricity per year.
By 2020, the country will produce about 20 million tonnes of sugarcane which can turn out 2,400 megawatts of electricity.
Doanh said that if Vietnam could manage to process these sugar by-products, they should eventually produce 10 percent of the national electricity turnover. Countries within the Asia Pacific region, such as Brazil, Thailand or the Philippines, have successfully used bagasse to generate electricity.
Electricity generated by bagasse is a clean alternative source which lessens dependence on thermal power or fossil fuels and help reduce hydro power plant production during the dry season.
Pham Hong Duong, Chairman of TTC Bien Hoa Sugar Corporation, told the conference that the price difference between bagasse-based electricity in Vietnam and Thailand and the Philippines was the main reason why not many power plants have invested in this form of energy.
According to Duong, the current price for each kilowatt of electricity generated by bagasse in Vietnam is roughly 0.05 USD, while the same amount costs 0.11 USD in Thailand and 0.13 USD in the Philippines.
The conference, held in Phan Thiet city, was co-organised by the VSSA and TTC Group.
Dong Nai records 1.4 billion USD trade surplus in eight months
The southern province of Dong Nai enjoyed a trade surplus of nearly 1.4 billion USD in the first eight months of the year, according to the provincial Statistics Office.
In the eight-month period, the province shipped nearly 11 billion USD worth of products to foreign countries, a year-on-year increase of 11 percent.
The trade surplus was contributed by key staples like footwear (1.9 billion USD, up 9.4 percent), garments (over 1 billion USD, up 8.2 percent) and wooden furniture (722 million USD, up 12.3 percent).
The provincial People’s Committee said that the footwear sector has witnessed the highest export turnover in the past years. Foreign direct investment (FDI) companies like Changsin, Taekwang Vina and Pouchen have enjoyed sound and stable growth. They are committing to raising production capacity to meet orders from the world’s big footwear brands in the coming time.
Despite facing fierce competition with Chinese, Indian and Bangladeshi enterprises, Vietnamese garment businesses still ensure stable orders thanks to their prestige and product quality.
Regarding wooden products, numerous firms have sought new markets while taking advantage of the free trade agreements signed with the Republic of Korea and Japan to boost their exports.
Meanwhile, several products saw high export growth like fibre (795 million USD, up 25.6 percent), machines and equipment (670 million USD, up 22.9 percent), computers and electronic products (318 million USD, up 22.8 percent).
High export prices of agricultural products also contributed to the province’s export revenue.
The largest importers of Dong Nai goods in the period were the US with revenue of 2.54 billion USD, China with 944 million USD and Japan with 934 million USD.
Gov’t cuts inspections on some imports
Prime Minister Nguyen Xuan Phuc has issued a decision repealing a list of 114 products and goods subject to pre-import quality inspection, cutting inspections on these products from two times to one.
The list was issued by then-PM Nguyen Tan Dung on March 7, 2006.
The repeal will take effect from October 5, 2017, aiming to reduce customs clearance time spent on these 114 products, which currently undergo two inspections, before and after they are officially imported.
This move is expected to aid businesses as well as consumers. The listed products will now only be inspected once they’ve already been imported.
The goods, which will no longer receive pre-import quality inspections, include medical equipment and facilities, vaccines, aquaculture feed, instant seafood products, pesticides, fertilisers, veterinary drugs and raw materials for veterinary medicine and animal feed.
The list also contains protective helmets for motorcyclists, children’s helmets, kettles, irons, electric cookers, electric ovens, electric pans, electric grills and toys for children under 36 months of age.
Some types of explosive products, explosion-proof equipment used in mining, cranes, construction machines for traffic works, tractors, some types of cement products, reinforced concrete beams, industrial safety helmets, insulated gloves, elevators and escalators will also no longer be inspected twice.
Vietnamese firm starts building fish trawler for Canada
Ha Long Shipbuilding Co., Ltd held a keel-laying ceremony on August 31 to mark the start of the construction of a fishing trawler for Hill Enterprises from Canada.
The ship for offshore fishing will be 29m in length, 10m wide and 5m high, following Canada’s and international fishing vessel safety regulations.
It will have special equipment for locating fish and a cold cellar for fish storage.
It will be the first fishing vessel Ha Long Shipbuilding Company builds for a Canadian partner.
August retail sales in huge surge
Vietnam’s total revenue from retail sales and services reached 2.58 quadrillion VND (114.7 billion USD) in the first eight months of this year, a year on year increase of 10.3 percent, reported the General Statistics Office (GSO).
The figure amounted to an 8.9 percent increase, excluding the price factor, the highest rise recorded since the beginning of this year, said GSO domestic trade expert Vu Manh Ha, adding that the figure was also higher than 8.5 percent growth of the same period last year.
Ha attributed the growth in purchasing power to surges in demand for accommodation and catering services after high school graduation and university examinations as well in essential goods for the new school year which starts in September.
Recovery in revenue from accommodation and catering services in four central provinces – Ha Tinh, Quang Binh, Quang Tri and Thua Thien-Hue - after last year’s environmental disaster caused by Formosa also contributed to the retail sales increase, he said.
From January to August, revenue of retail sales reached 1.93 quadrillion VND (86.1 billion USD), accounting for three quarters of total revenue, a yearly rise of 10.3 percent. Sectors posting significant growth included textile and garments, up 14 percent; equipment and home appliances, up 11.6 percent; food and foodstuff, up 10.6 percent; and transportation, up 7.6 percent.
Revenue from accommodation and catering services stood at 318 trillion VND (14.1 billion USD), an increase of 11.3 percent against the figure in the same period last year.
Meanwhile, the tourism sector experienced a revenue increase of 11 percent year-on-year in the first eight months to 23.1 trillion VND (1.26 billion USD), with several localities witnessing significant growth, such as the northern province of Bac Giang with 25.1 percent; the central province of Khanh Hoa (23 percent); HCM City (12.2 percent) and the southern province of Ba Ria – Vung Tau (12 percent).
The Association of Vietnam Retailers has forecast that the country’s retail turnover will rise to 179 billion USD by 2020.
Vietnam-Australia trade rises 4.7 percent each year: MoIT
Six years after implementing the ASEAN-Australia-New Zealand Free Trade Area, trade between Vietnam and Australia has increased 4.7 percent each year on average, according to the Ministry of Industry and Trade (MoIT).
Last year, trade between the two countries reached 5.26 billion USD, up 6.5 percent from 2015, with Vietnam’s trade surplus sitting at 480 million USD.
During a conference held by the Department of Asian Market on August 31, the MoIT said that Australia has high demand for goods from Asia-Pacific and has become an important market for Vietnam.
Popular Vietnamese exports to Australia include aquatic products, consumer goods, apparel, footwear and wooden products due to preferential tax deals in the ASEAN-Australia-New Zealand Free Trade Area, added the ministry.
HCM City calls for foreign investments
Ho Chi Minh City authorities, on August 31, held a meeting with foreign consuls general in the city to discuss orientations to develop the southern metropolis and joint works to increase foreign capital.
Speaking at the function, Chairman of the municipal People’s Committee Nguyen Thanh Phong stated HCM City is committed to improving the local business climate to welcome long-term operations of foreign investors.
Phong said the city wants to learn from experience of cities around the world in terms of growth and living quality, asking participating consuls general to share initiatives and collaboration to help tackle the municipal development challenges.
HCM City leaders presented the hub’s master planning for growth by 2020 and nine major projects as well as its progress of becoming a smart city.
They expected the consuls general to become bridges connecting potential foreign investors to the city’s projects.
Singaporean Consul-General Leow Siu Liu acknowledged the city’s efforts to ensure strong development and boost people’s living standards.
Expressing her delight at the local development planning and seven breakthrough programmes for 2016-2020, she stressed the consuls general will inform business associations and firms at home on investment opportunities in the city.
At the meeting, the authorities also fielded questions by the diplomats.
In the first half of 2017, the municipal Gross Regional Domestic Product grew 7.76 percent, up 7.47 percent from the same period last year. As of August, the city recorded 22.8 billion USD in export revenue, an annual increase of 13.6 percent, and 650 new and extended FDI projects totalling 1.4 billion USD.
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.
The information has been revealed by 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, said deputy director of the provincial Department of Industry and Trade.
Currently, there are 4,200 enterprises with a total registered capital of 45 trillion VND (2 billion USD) in Hau Giang. The province has so far attracted 40 foreign and domestic investors, who have poured capital worth 760 million USD and 66.4 trillion VND, respectively, in the local industrial zones and complexes.
PV Drilling secures 6 million USD deal with KrisEnergy
The PetroVietnam Drilling & Well Service Corporation (PV Drilling) has signed a contract worth over 6 million USD to offer jack-up drilling services to Singapore-based KrisEnergy.
Accordingly, the PV Drilling I jack-up rig will be used for the exploration of six fixed and two optional wells in the Gulf of Thailand’s block G10/48, where KrisEnergy holds an effective 89% working interest in and is the operator.
The work is scheduled to start in October 2017.
The contract is the second drilling deal that PV Drilling has secured this year with foreign partners.
Previously, it served Total E&P Myanmar’s 164-day drilling campaign in blocks M5 and M6 of Myanmar's sea.
Military Bank, VPBank to augment charter capital
The State Bank of Vietnam recently approved proposals to raise charter capital at the Military Commercial Joint Stock Bank (MB) and the Vietnam Prosperity Joint Stock Commercial Bank (VPBank).
The MB plans to augment its charter capital from nearly 17.13 trillion VND (753.72 million USD) to 18.15 trillion VND (798.6 million USD).
Meanwhile, VPBank aims to boost its charter capital from nearly 14.06 trillion VND (618.64 million USD) to 15.7 trillion VND (690.8 million USD).
The increases were agreed by MB and VPBank shareholders at their annual meetings last April.
The central bank requested MB and VPBank raise charter capital in line with legal regulations, including those on share ownership limits for shareholders.
Nearly 102,000 labourers register in August
A total of 101,700 labourers were registered at newly-established businesses in August, up 8.8 percent year-on-year, according to the General Statistics Office.
The number of workers at industrial firms also increased by 4.3 percent in August compared with the same period last year.
The number of labourers at State-owned enterprises fell by 4 percent while the figure at non-State enterprises rose by 0.9 percent and at foreign direct investment (FDI) firms, up 7.6 percent.
Last month, there were 12,404 newly-established enterprises with total registered capital at 131.4 trillion VND (5.78 billion USD), up 6.2 percent in volume and 39 percent in capital against the previous month.
Hà Nội enjoys steady growth in all key sectors
Hà Nội’s economy has expanded since the beginning of this year with steady growth recorded in all key sectors of industry, trade, tourism and services and agriculture, reported the municipal People’s Committee.
The city’s industrial production index grew 6.5 per cent in the first eight months of 2017, of which the mining industry rose 7.1 per cent. The manufacturing and processing sector expanded 6.6 per cent while electricity production and distribution registered a 6.1 per cent increase. The water supply and waste treatment sector saw growth of 3.1 per cent.
During the January-August period, Hà Nội’s export turnover enjoyed a year-on-year increase of 8.5 per cent to $7.6 billion.
Since the beginning of the year, Hà Nội has welcomed more than 2.3 million foreign visitors, up 22.7 per cent year-on-year.
The number of newly-established business in Hà Nội rose by 14 per cent to 16,714 in the first eight months of 2017, with combined registered capital of approximately VNĐ130 trillion, up 4 per cent year on year. Statistics showed that over 223,900 enterprises are operating in the capital city. In the reviewed period, some 93,000 business registration applications were submitted online.
The municipal administration has provided free consultancy for nearly 50,000 firms and individuals, both in and outside the country, who are doing business in the city.
The city welcomed 114 non-budget investment projects, worth VNĐ71 trillion; 22 Public-Private Partnership (PPP) projects with a total investment of VNĐ60 trillion; and $1.74 billion in foreign direct investment (FDI) projects. So far, Hà Nội has had 128 PPP projects with a combined investment of VNĐ333 trillion, of which eight projects have been completed and 120 others are underway or preparing procedures.
Chairman of the municipal People’s Committee Nguyễn Đức Chung emphasised that attracting investment is a very important task for the city though many challenges remain. Hà Nội has taken a wide range of measures to create favourable conditions for investors by stepping up the application of information technology and holding dialogues with businesses to remove difficulties they face, he added.
In the remaining months, Hà Nội will focus on stimulating consumption, exchanging goods with other localities, and promoting exports while managing the domestic market and developing tourism products.
The city will approve a planning scheme for developing industrial clusters by 2020 with a vision to 2030 while calling on more investors to build local industrial parks. It will take measures to remove difficulties in terms of procedures for investors and pay attention to big domestic and foreign-invested projects so that they could be licensed in 2017.
Military Bank, VPBank to augment charter capital
The State Bank of Vietnam recently approved proposals to raise charter capital at the Military Commercial Joint Stock Bank (MB) and the Vietnam Prosperity Joint Stock Commercial Bank (VPBank).
The MB plans to augment its charter capital from nearly 17.13 trillion VND (753.72 million USD) to 18.15 trillion VND (798.6 million USD).
Meanwhile, VPBank aims to boost its charter capital from nearly 14.06 trillion VND (618.64 million USD) to 15.7 trillion VND (690.8 million USD).
The increases were agreed by MB and VPBank shareholders at their annual meetings last April.
The central bank requested MB and VPBank raise charter capital in line with legal regulations, including those on share ownership limits for shareholders.
Gov’t urges focus on transport
Deputy Prime Minister Trinh Dinh Dung has asked ministries, localities and relevant agencies to address stumbling blocks facing key transport projects in order to accelerate their progress.
Dung said some transport projects have been slowed down due to difficulties in land clearance, slow procedure completion, or inappropriate investment allocation. The delayed projects include Tan Vu-Lach Huyen road, Da Nang-Quang Ngai expressway, Ca Pass tunnel, and the HCM highway running through Central Highlands.
The Deputy Prime Minister asked the transport ministry, relevant sectors, and localities to review the documents and procedures of these projects as well as clarify authority for their completion to the National Assembly, Government, Prime Minister, sectors and localities.
Difficulties which are slowing down the projects must be reported to authorized agencies.
During the project implementation, land clearance, compensation and resettlement must be put in focus. Sectors must also step up supervision to improve projects’ quality and efficiency and reduce waste, he said.
He ordered the transport ministry to ask investors and project management boards to work closely with local authorities in project implementation, especially land clearance, and to continue to collaborate with construction ministry to control project costs.
He urged early procedure completion for key projects such as North-South expressway in the east, expansion of Tan Son Nhat Aiport and Long Thanh Aiport.
People’s committees of central-level cities have been ordered to stabilise supply and costs of materials to meet construction progress.
The Ministry of Natural Resources and Environment is in charge of reviewing mines of construction materials to ensure their reserves.
Vinatex visits Armenia
After a new trade deal, a Vietnamese company is hoping to add a new country to their roster of important trading partners: Armenia.
A delegation of the Viet Nam National Textile and Garment Group (Vinatex) has recently made a fact-finding trip to Armenia to seek partners for production projects. Viet Nam is the first country to sign a free trade agreement with the Eurasian Economic Union (EAEU) that includes Armenia.
Vinatex general director Le Tien Truong said that during their stay, the group’s representatives held working sessions with a deputy foreign minister, the minister of economic development and investment, and some major businesses in Yerevan, the capital city of Armenia.
He said Vinatex will consider establishing production and business cooperation with big companies in Armenia that already have distribution networks in Russia and the EU. In the initial stage, Vinatex will mainly contribute machinery and production administration.
At the meetings, the Armenian Government expressed its desire to cooperate with major firms with much experience in production management like Vinatex, so as to revive the local garment industry and boost exports.
It also promised to encourage investment, create favourable conditions for foreign investors, and provide special mechanisms for Vietnamese investors through cooperation policies, multilateral and bilateral cooperation agreements, and granting of work visas, Truong added.
According to Vinatex, 94 businesses are operating in the textiles and garment industry of Armenia. The country exported US$50 million and imported $170 million worth of textile and garment products in 2014.
Despite their small scale, Armenian firms have experience in working with big fashion brands of Italy and Germany such as La Perla, Moncler, Armani and Porsche.
New kinds of mooncakes ready
A new full-moon season starts in one month and confectioneries nationwide are ready with many kinds of mooncakes with new flavours.
Along with improving product quality, companies have invested in creating new products with attractive designs and packaging.
About
50 trademarks have joined the market this year, including Mondelez Kinh Do,
Thanh Long, Huu Nghi, Dong Khanh, Hy Lam Mon, ABC, Duc Phat, Tous Les Jours and
Dong Khanh.
Speaking
with Viet Nam News, Modelez Kinh Do said they were ready to offer 84 different
kinds of mooncakes this year.
The
company first launched Oreo mooncakes in 2007, which are designed based on the
modern technologies of Mondelez International and Kinh Do’s traditional
experiences in making mooncakes.
These
Oreo moon cakes will be made for the Vietnamese and Chinese market, the company
said, noting that many other products had been exported to the US.
Other
companies including Bibica and Dong Khanh have also begun introducing products
for the mid-autumn festival season.
In
HCM City, many booths selling mooncakes from these companies can be seen
throughout the city.
A
representative from Bibica told Viet Nam News that the company this year would
introduce 600 tonnes of mooncakes with 60 different kinds, up by 10 per cent
year-on-year.
The
company added that this year it would make mooncakes in a Japanese style with
materials imported from other countries.
He
added that the company was focusing on design and packaging as well as using
healthy ingredients.
Traders
have also started their full-moon season by importing a big volume of mooncakes
to sell on social networks like Facebook or websites.
These
mooncakes are mostly imported from Hong Kong, Japan, Malaysia and Thailand.
A trader said that she started to import mooncakes from the beginning of August, and that customers had been buying the moonackes out of curiosity.
A trader said that she started to import mooncakes from the beginning of August, and that customers had been buying the moonackes out of curiosity.
Le
Thi Thanh Xuan from the Delicacy shop said that her company’s full-moon imports
this year will jump by 60 per cent. Last year, they imported 1,000 boxes.
Handmade
moon cakes are also in high demand.
Dinh
Truc, mooncake makers in Binh Tan District, said that the company had made
mooncakes for years and most of his customers prefer those shaped like one the
12 animals of the zodiac.
He
has received dozens of orders from customers. This year he will design more
shapes and create mooncakes, with many new flavours.
Confectioneries
said the price this year had slightly increased by between 3 per cent and 5 per
cent.
They
attributed the price hike to the increasing income costs for power, water,
human resources and transportation.
Some
traders, however, said that well-designed packaging had increased the prices of
the cakes.
The cost for packaging accounts for 20 per cent of the total cost, according to traders.
New regulations on import and export
The Ministry of Finance has held a meeting to introduce changes in the list of Viet Nam’s export and import goods as per Circular No 65/2017 / TT-BTC.
The new circular will take effect from January 1 next year.At the meeting on Friday, Dao Thu Huong, Deputy General Director of the General Department of Customs, said that the change focuses on a number of industries including automobile, fishery, chemicals, porcelain tiles, machinery and equipment.
The industries have had technological and commercial development so they need to have an enhancement in State management of the environment and toxic chemicals, Huong said.
Notable changes have been made in the automobile sector with an addition of new subdivisions such as electric cars, electric vehicles, gasoline-electric or oil-electric hybrid vehicles.
The machinery and equipment sector is also added new codes reflecting new technologies such as LED diodes or multi-component integrated circuit (MCO) products.
The fishery industry details the names of some types of fish, molluscs that have high trade turnover or supplements the scientific names of fish and fish by-products to facilitate the State management.
Circular No 65 also introduces a draft decree to replace Decree 122/2016/NÑ-CP on export and import tariffs, under which it proposes two import tax reduction options on automobile components.
In the first option, the ministry proposes to reduce the most favoured nation (MFN) import tax rate of 163 tariff lines for imported cars to be assembled for two groups of vehicles to zero per cent. Accordingly, the average duty rate for whole sets will be cut from 14-16 per cent to about 7 per cent for cars under nine seats and about 1 per cent for trucks under 5 tonnes.
In the second option, the MFN import tax rate of 19 tariff lines for engines, gearboxes, actuators and high pressure pumps to be assembled for two groups of vehicles will be exempted.
The import tax rate of 42 tariff lines under Group 8708 for components assembled for the two groups of vehicles above will be cut so that the average duty rate for whole sets will be cut from 14-16 per cent to about 7 per cent for cars under nine seats and about 1 per cent for trucks under 5 tonnes.
According to Huong, the tax adjustment aims to harmonise the interests of the State, enterprises and consumers besides maintaining the stable growth rate of production and assembly for vehicles under nine seats and trucks.
Bao Viet Insurance boosts international co-operation
Bao Viet Insurance Corporation’s main policy this year is to strengthen co-operation with reputed international partners to provide new products and services in Viet Nam’s market.
Deputy CEO of Bao Viet Insurance Nguyen Quang Hung stated this during the launch of “One Storm” insurance product, which was introduced for the first time in Viet Nam by Munich Reinsurance Company and Bao Viet Insurance on Thursday.
According to Hung, the new product is designed to protect organisations, power plant operators, large corporations, industrial enterprises and Government agencies against losses caused by typhoons in Viet Nam, with compensation limit from VND10 billion (US$440,000) to VND100 billion per insured location.
Due to its tropical monsoon climate, Viet Nam is on the path of many major storms, which regularly cause devastating losses.
This non-traditional insurance solution is a parametric trigger typhoon risk cover, which protects fixed assets in operation or under construction, determined by the exact insured location through latitude and longitude, both onshore and offshore. Unlike traditional insurance products that only cover a policyholder’s losses following physical damage, “One Storm” claims to handle pay-outs fast and is uncomplicated in case of pre-defined triggers even without any physical damage incurred.
Risk holders can check their triggered pay-out in real time after a storm takes place at onestorm.munichre.com, with data being identified and verified by the Japanese Meteorological Agency, an independent third party.
During the ceremony on Thursday, Bao Viet Insurance also introduced another new product called Baoviet Intercare.
Cooking gas price up VND16,000 in southern regions
The price of cooking gas in HCM City and the southern provinces has been raised by VND16,000 (70 US cents) for a 12kg canister with effect from September 1.
Thus, the retail price for consumers will now be VND320,000-325,000 per 12kg canister.
Gas traders said the latest hike is on account of the $50 per tonne increase in world gas price this month compared to the previous month, adding up to $490 per tonne. The price of domestic gas had to be adjusted in accordance with the global market, traders said.
With this hike, September becomes the second consecutive month to post a rise in gas prices. In August too, there had been a hike of VND27,000 per 12kg canister.
Agents, gas shops and consumers in HCM City and the southern provinces have been informed about the new rates.
VN seafood has potential in China
With the largest population in the world and an increasing affluent one, China is a lucrative market for Vietnamese seafood products.
But the market also comes with potential risks and unpredictability, requiring Vietnamese firms to be cautious when exporting there, a conference heard in HCM City on August 30.
Le Hang, deputy director of the VASEP (Viet Nam Association of Seafood Exporters and Producers) Training and Trade Promotion Centre, told “China Seafood Market: Potential for Viet Nam’s Suppliers” that fisheries exports to China soared from US$152 million in 2007 to $860 million last year.
Shrimp and tra fish saw the strongest increase, but continue to have the potential for double digit growth rate in the coming years, she said.
Chinese are increasingly eating more fish than meat, while local output from aquaculture and fishing is shrinking, offering Vietnamese exporters a good opportunity, she said.
But the market also has risks, she warned.
China could tighten hygiene, food safety and quarantine regulations, she said.
Yang Yong, chairman of GuangZhou Nutriera Biotechnology Co Ltd, said Chinese consumers are increasingly looking at product quality, safety and convenience.
Brands are one of the key factors for them in choosing a product, and are willing to pay 20-30 per cent more, he said.
Therefore, Vietnamese exporters could increase processing to make products more convenient or nutritious for Chinese consumers, he said.
For instance, Vietnamese firms could add vegetable extracts to tra fish to increase the omega-3 content or additives to improve flavour, he said.
Hang said Chinese consumers’ tastes change rapidly and so producers must keep a close eye on the market to come up with appropriate products.
Nguyen Phu Hoa, deputy director of the Ministry of Industry and Trade’s Foreign Trade Department, said Vietnamese companies should export products that meet US and Japanese standards and have strategies to build their brands in China.
Truong Tuyet Hoa of Vinh Hoan Corporation said her company’s tra fish exports to China have increased sharply.
Chinese importers have diverse demands in all segments, and her company focuses on processed products and products with high added value, she said.
Many importers send chefs to her company’s factory to adjust the spices to make the products suitable for Chinese palates, she said.
To avoid risks, her company does not sell through the border with China and only supplies goods after getting the payment, she added.
Viet Nam shipped $749 million worth of aquatic products abroad in August, bringing the total in the first eight months of 2017 to $5.13 billion, up 18.1 per cent from the same period last year.
According to the Ministry of Agriculture and Rural Development, the largest buyers of Vietnamese aquatic products included the United States, Japan, China and the Republic of Korea, accounting for 55.6 per cent of total exports.
Export value to China showed the biggest increase of 57.2 per cent, followed by Japan (30.8 per cent), the United Kingdom (30.1 per cent), the RoK (28.8 per cent), the Netherlands (25.3 per cent) and Canada (20.7 per cent).
MARD to get involved in promoting organic farming
The Ministry of Agriculture and Rural Development (MARD) should coordinate with relevant ministries to promulgate a decree on organic agriculture.
This was said by Nguyen Xuan Hong, former director of the ministry’s Plant Protection Department, at a conference on organic farming held in Ha Noi on Thursday.
The event is designed to get opinions from experts, producers and enterprises to finalise a decree on organic farming before submitting it to ministries and departments for comments. Then, it will be sent to the Government for approval.
Once issued, the decree will contribute to developing Viet Nam’s organic agriculture sector, meeting the needs of domestic and international consumers, increasing income for farmers and businesses, and creating biodiversity and sustainable landscape.
At the conference, delegates revised the TCVN 11041: 2015 national standard for the producing, processing, labeling and marketing of organic food.
Participants spoke about the strict management of production, business and the certification of organic products.
Experts encouraged enterprises to invest in producing and trading organic products, investing in the production of organic fertilisers, biological fertilisers and biological plant protection products.
Hong said it was necessary to invest in scientific and technical research, create a favourable business environment for organic enterprises, and support cooperative groups who wanted to take up organic agriculture.
MARD deputy minister Tran Thanh Nam said domestic enterprises had invested in organic farming and actively applied international standards to meet the demands of the domestic market and exports.
Currently, many types of products are labelled organic, but most do not yet meet organic standards and safety requirements, causing lack of trust by consumers.
Therefore, Nam said it was necessary to develop a legal document to facilitate the development of organic griculture.
The conference was organised by MARD, in accordance with European Trade Policy and Investment Support Project (EU-MUTRAP).
It drew the participation of scientists, researchers, enterprises and producers of organic farming products.
Coal imports reduce in seven months
Viet Nam imported 7.9 million tonnes of coal worth US$801 million in the first seven months of the year.
The imports represented a 5.1 per cent decrease in terms of quantity and a 49.2 per cent increase in term of value compared the same period last year.
Statistics from the General Department of Customs revealed that in the seven-month period, Indonesia was Viet Nam’s largest coal exporter with 2.9 million tonnes and turnover worth $192.7 million, posting an increase of 48.2 per cent and 65.2 per cent year-on-year in terms of quantity and value, respectively.
Australia came second in coal exports by Viet Nam with 2.3 million tonnes worth almost $283 million, reducing 12.4 per cent in quantity but increasing 40.2 per cent in value.
Notably, the country’s coal imports from China in the period were sharply reduced from the corresponding period last year, from 1.16 million tonnes to 614,125 tonnes. However, export turnover increased from $93.8 million at the end of last year to $110.4 million.
The department said the main reason was the continuous increase in coal import price from China in the last seven months.
Sales Promotion Fair opens in HCM City
Scores of businesses are displaying a wide range of products at the 2017 Sales Promotion Fair that opened in HCM City’s Phu Tho Indoor Stadium on on August 30.
Organised by the Department of Industry and Trade, it has over 450 booths showcasing food and beverages, garments and textiles, footwear, electronic and electrical products, home appliances, handicrafts, cosmetics, interior and exterior decoration items, real estate projects, and tourism services, with many offering discounts of up to 49 per cent.
In response to the "For a Green Environment" movement, the fair’s organisers are providing free bags to shoppers.
The department has co-ordinated with the city Market Management Department and Commodities and Trademark magazine to display fake goods and identify genuine goods to warn consumers to be cautious.
Speaking at the opening ceremony, Nguyen Phuong Dong, the department’s deputy director, said the fair is an important activity for stimulating consumption and attracting visitors to the city.
The fair is part of the city’s 2017 Sales Promotion Month in which 3,000 enterprises and 5,300 business households are participating.
The fair will go on until September 4.
Thua Thien-Hue’s export turnover up 21%
The central province of Thua Thien-Hue shipped US$530 million worth of products to foreign countries in the first eight months of 2017, a year-on-year surge of 21.16 per cent.
The foreign-invested sector contributed $298 million, up 24.82 per cent, while $150 million came from the private sector, up 21.61 per cent.
The United States continued to be the largest purchaser, accounting for 40 per cent of the province’s export revenue. Along with traditional markets such as China, the European Union, Japan, South Korea and Taiwan, local products have also been shipped to Cambodia, India, Slovakia and Sri Lanka.
The export value registered a year-on-year surge of 17.47 per cent for industrial processed products, and 35.79 per cent for agro-forestry-fishery products. Notably, the export of aquatic products has doubled to $35.25 million, up 24.78 per cent against 2016.
Leading Thua Thien Hue’s textile market, Hue Textile and Garment Joint Stock Company earned VND1.57 trillion ($69 billion) in revenue and its export turnover was $85 million. The average monthly income of its employees is VND7.3 million per person.
In order to achieve the targeted growth of 10 per cent in 2017, Hue Textile and Garment JSC has started construction of two factories to increase production, including a VND70 billion garment factory in Phu Da Industrial Zone and another factory valued at VND35 billion in Nam Dong District.
Thua Thien Hue Province has spent $345 million purchasing materials from foreign countries, a 6.76 per cent rise compared to the same period last year. Most of the imports have been garment-support materials and spares, with China remaining its primary source for these imports.
Viet Capital Bank signs deal to distribute Bao Minh’s insurance products
Viet Capital Bank and Bao Minh Insurance Corporation on August 31 signed a bancassurance deal for non-life insurance.
Bao Minh Insurance Corporation will distribute its insurance products for assets, cargo, private homes, automobiles, personal health and accident, family health, domestic and international travel and others through Viet Capital Bank’s network of more than 62 branches in the country.
According to Viet Capital Bank, the tie-up will enable it to deliver the most cost effective and practical insurance products and services to customers.
Le Van Thanh, general director of Bao Minh, said after nearly 10 years of involvement in bancassurance, his company is confident of co-ordinating with Viet Capital Bank to offer appropriate product packages to customers.
New owner for unfinished AZ Lam Vien Complex
The Ha Noi People’s Committee allowed Lam Vien Construction and Investment Joint Stock Company to sell the entire AZ Lam Vien Complex to AZ Land, according to an announcement by the municipal Department of Construction.
Lam Vien Construction and Investment Joint Stock Company is responsible for handling any problems that may arise and ensure the rights of buyers and relevant parties.
Construction of the AZ Lam Vien, located on Nguyen Phong Sac Street, Cau Giay District, began in 2009 but its construction had been stagnant since then, despite the contractor changing from Vinaconex 1 to Lac Hong Investment in 2014. Its construction has stopped on the 13th floor for years.
The project has 29 floors and two basements with total investment of VND690 billion (US$30.4 million).
Phu Yen revokes VND800b hotel project
The People’s Committee of central Phu Yen Province has decided to revoke a VND800 billion (US$35.2 million) hotel complex project in Tuy Hoa City of Dien Bien No 1 Construction Company due to stagnant construction.
Muong Thanh Phu Yen’s investment policy was approved in July 1, 2016, covering 14,400sq.m. with 27 floors consisting of 200 five-star hotel rooms and 300 luxury apartments.
Accordingly, the developer was asked to complete legal procedures by September 2016, start construction of the project in October of the same year and complete it within one year.
Until now, the developer has, however, failed to start construction.
In June, the provincial People’s Committee asked the developer to submit the investment plan but received no response before the deadline.
Vinpearl to purchase 13.5m Nha Trang Port shares
Khanh Hoa Province People’s Committee has registered with the Ha Noi Stock Exchange to offload 13.5 million shares, or 55 per cent stake, in Nha Trang Port JSC.
The transaction is scheduled for between September 5 and October 4 and the shares will be sold via put-through trading.
The Khanh Hoa provincial government is holding more than 15 million shares of the Nha Trang port operator, equal to 61.4 per cent of the company’s charter capital.
The number of shares to be sold by Khanh Hoa Province’s government is also equal to the amount of shares that will be bought by Vinpearl JSC – a member company of property developer Vingroup.
If the deal is completed, Vinpearl JSC will raise its ownership in Nha Trang Port JSC to 85.5 per cent from the current 30.5 per cent. Vinpearl became a shareholder of Nha Trang Port JSC in 2015.
Shareholders of Nha Trang Port JSC approved the deal at the company’s shareholder meeting in early August.
The main business activities of Nha Trang Port JSC include loading, storage, logistics and marine transportation.
In the first half of 2017, the company posted VND28.4 billion (US$1.26 million) in revenue and VND2.57 billion in post-tax profit.
HNX raises $140m from Government bonds in August
The Ha Noi Stock Exchange (HNX) announced it has mobilised nearly VND3.2 trillion, or US$140 million, from 17 government bond auctions in August.
HNX said the number of bonds mobilised in the primary market decreased 79 per cent compared with July.
The bonds were offered for four tenures -- five years, seven years, 10 years, 15 years and 30 years.
The coupon rates of five-year term bonds were 4.6 per cent per annum, seven-year term bonds were at 4.8 per cent per annum, 10-year term bonds were at 5.38 per cent per annum, 15-year term bonds were at 5.75 per cent per annum and 30-year term bonds were at 6.1 per cent per annum.
Compared with July, coupon rates in August of five-year bonds dropped 0.12 per cent per annum, seven-year bonds reduced 0.15 per cent per annum and 30-year bonds declined 0.12 per cent per annum.
Coupon rates of 10-year and 15-year bonds saw no change in August.
In the secondary market, the total number of government bonds in outright transactions reached 902.5 million, which was equivalent to VND99.5 trillion, down 10.3 per cent in value month-on-month.
The total volume of government bonds in repo (repurchase agreement) trading reached 1,186 million, equivalent to VND119 trillion, up 20.4 per cent in value month-on-month.
Foreign investors also made outright purchases of more than VND4.9 trillion and outright sale transactions of over VND5.5 trillion. They made repo sales of over VND98.9 trillion and no repo buys in August.
Toyoda to build airbag plant in VN
Toyoda Gosei Co., Ltd. on Wednesday released plans on its website to establish a new plant for producing airbag parts in the northern province of Thai Binh, Viet Nam.
According to the announcement, the factory has total investment capital of US$24.6 million and construction is expected to start in March, 2018.
The plant is planned to be built on an area of 2.08ha in Thai Binh Province’s Tien Hai Industrial Park and is designed to meet growing demand for airbags, as safety regulations become more stringent in regions around the world.
The new plant will be established as a branch plant of Toyoda Gosei’s subsidiary Toyoda Gosei Hai Phong Co., Ltd. (TGHP), and will start production of airbag parts and steering wheels in July 2019 for export to final airbag assembly plants in Japan, North America, Europe and other regions.
In 2004, Toyoda Gosei established the first plant to manufacture airbag parts in Hai Phong City with investment capital of $74.95 million. To date, Toyoda Gosei has three plants in operation in Hai Phong’s Nomura Industrial Zone.
In 2016, the plants’ production capacity was 14.5 million airbag parts and 2.2 million steering wheels. The company targets to increase these figures to 23 million airbag parts and 3.2 million steering wheels by 2023.
Established in 1949 and headquartered in Kiyosu, Japan, Toyoda Gosei is a leading specialty manufacturer of rubber and plastic automotive parts and LEDs. Today, Toyoda Gosei Group provides a variety of high-quality products internationally, with a network of some 100 plants and offices in 18 countries and regions.
Airbags and other safety system products are a key business segment for Toyoda Gosei and the company is moving to strengthen its production capacities for these products globally.
International shipbuilding expo returns to Ha Noi
The 9th International Exhibition of Shipbuilding, Shipping, and Offshore Technology (Vietship 2018) will return to the capital early next year, the event’s organisers announced on Thursday.
The forthcoming expo will draw the participation of leading enterprises, including those from foreign countries having developed maritime industries, such as Japan, South Korea, Singapore, China, France, Norway, Belgium and the Netherlands.
The biennial event will offer a good chance for businesses and investors to approach useful information, share state-of-the-art technologies and seek investment opportunities to further accelerate the development of the shipbuilding industry, organisers said.
Hosted by the Shipbuilding Industry Corporation (SBIC), Vietship 2018 will take place at the National Convention Centre from January 24 to January 26. It is expected to attract more than 10,000 visitors. Conferences on the shipbuilding and maritime industries will be held on the sideline of the expo.
The previous event saw 19 contracts and agreements worth over VND500 billion (US$22.4 million) inked between domestic and foreign partners. It had 220 stands from 130 companies, including 78 foreign firms.
VNA/VNS/VOV/SGT/SGGP/TT/TN/Dantri/VNEVET
The cost for packaging accounts for 20 per cent of the total cost, according to traders.
New regulations on import and export
The Ministry of Finance has held a meeting to introduce changes in the list of Viet Nam’s export and import goods as per Circular No 65/2017 / TT-BTC.
The new circular will take effect from January 1 next year.At the meeting on Friday, Dao Thu Huong, Deputy General Director of the General Department of Customs, said that the change focuses on a number of industries including automobile, fishery, chemicals, porcelain tiles, machinery and equipment.
The industries have had technological and commercial development so they need to have an enhancement in State management of the environment and toxic chemicals, Huong said.
Notable changes have been made in the automobile sector with an addition of new subdivisions such as electric cars, electric vehicles, gasoline-electric or oil-electric hybrid vehicles.
The machinery and equipment sector is also added new codes reflecting new technologies such as LED diodes or multi-component integrated circuit (MCO) products.
The fishery industry details the names of some types of fish, molluscs that have high trade turnover or supplements the scientific names of fish and fish by-products to facilitate the State management.
Circular No 65 also introduces a draft decree to replace Decree 122/2016/NÑ-CP on export and import tariffs, under which it proposes two import tax reduction options on automobile components.
In the first option, the ministry proposes to reduce the most favoured nation (MFN) import tax rate of 163 tariff lines for imported cars to be assembled for two groups of vehicles to zero per cent. Accordingly, the average duty rate for whole sets will be cut from 14-16 per cent to about 7 per cent for cars under nine seats and about 1 per cent for trucks under 5 tonnes.
In the second option, the MFN import tax rate of 19 tariff lines for engines, gearboxes, actuators and high pressure pumps to be assembled for two groups of vehicles will be exempted.
The import tax rate of 42 tariff lines under Group 8708 for components assembled for the two groups of vehicles above will be cut so that the average duty rate for whole sets will be cut from 14-16 per cent to about 7 per cent for cars under nine seats and about 1 per cent for trucks under 5 tonnes.
According to Huong, the tax adjustment aims to harmonise the interests of the State, enterprises and consumers besides maintaining the stable growth rate of production and assembly for vehicles under nine seats and trucks.
Bao Viet Insurance boosts international co-operation
Bao Viet Insurance Corporation’s main policy this year is to strengthen co-operation with reputed international partners to provide new products and services in Viet Nam’s market.
Deputy CEO of Bao Viet Insurance Nguyen Quang Hung stated this during the launch of “One Storm” insurance product, which was introduced for the first time in Viet Nam by Munich Reinsurance Company and Bao Viet Insurance on Thursday.
According to Hung, the new product is designed to protect organisations, power plant operators, large corporations, industrial enterprises and Government agencies against losses caused by typhoons in Viet Nam, with compensation limit from VND10 billion (US$440,000) to VND100 billion per insured location.
Due to its tropical monsoon climate, Viet Nam is on the path of many major storms, which regularly cause devastating losses.
This non-traditional insurance solution is a parametric trigger typhoon risk cover, which protects fixed assets in operation or under construction, determined by the exact insured location through latitude and longitude, both onshore and offshore. Unlike traditional insurance products that only cover a policyholder’s losses following physical damage, “One Storm” claims to handle pay-outs fast and is uncomplicated in case of pre-defined triggers even without any physical damage incurred.
Risk holders can check their triggered pay-out in real time after a storm takes place at onestorm.munichre.com, with data being identified and verified by the Japanese Meteorological Agency, an independent third party.
During the ceremony on Thursday, Bao Viet Insurance also introduced another new product called Baoviet Intercare.
Cooking gas price up VND16,000 in southern regions
The price of cooking gas in HCM City and the southern provinces has been raised by VND16,000 (70 US cents) for a 12kg canister with effect from September 1.
Thus, the retail price for consumers will now be VND320,000-325,000 per 12kg canister.
Gas traders said the latest hike is on account of the $50 per tonne increase in world gas price this month compared to the previous month, adding up to $490 per tonne. The price of domestic gas had to be adjusted in accordance with the global market, traders said.
With this hike, September becomes the second consecutive month to post a rise in gas prices. In August too, there had been a hike of VND27,000 per 12kg canister.
Agents, gas shops and consumers in HCM City and the southern provinces have been informed about the new rates.
VN seafood has potential in China
With the largest population in the world and an increasing affluent one, China is a lucrative market for Vietnamese seafood products.
But the market also comes with potential risks and unpredictability, requiring Vietnamese firms to be cautious when exporting there, a conference heard in HCM City on August 30.
Le Hang, deputy director of the VASEP (Viet Nam Association of Seafood Exporters and Producers) Training and Trade Promotion Centre, told “China Seafood Market: Potential for Viet Nam’s Suppliers” that fisheries exports to China soared from US$152 million in 2007 to $860 million last year.
Shrimp and tra fish saw the strongest increase, but continue to have the potential for double digit growth rate in the coming years, she said.
Chinese are increasingly eating more fish than meat, while local output from aquaculture and fishing is shrinking, offering Vietnamese exporters a good opportunity, she said.
But the market also has risks, she warned.
China could tighten hygiene, food safety and quarantine regulations, she said.
Yang Yong, chairman of GuangZhou Nutriera Biotechnology Co Ltd, said Chinese consumers are increasingly looking at product quality, safety and convenience.
Brands are one of the key factors for them in choosing a product, and are willing to pay 20-30 per cent more, he said.
Therefore, Vietnamese exporters could increase processing to make products more convenient or nutritious for Chinese consumers, he said.
For instance, Vietnamese firms could add vegetable extracts to tra fish to increase the omega-3 content or additives to improve flavour, he said.
Hang said Chinese consumers’ tastes change rapidly and so producers must keep a close eye on the market to come up with appropriate products.
Nguyen Phu Hoa, deputy director of the Ministry of Industry and Trade’s Foreign Trade Department, said Vietnamese companies should export products that meet US and Japanese standards and have strategies to build their brands in China.
Truong Tuyet Hoa of Vinh Hoan Corporation said her company’s tra fish exports to China have increased sharply.
Chinese importers have diverse demands in all segments, and her company focuses on processed products and products with high added value, she said.
Many importers send chefs to her company’s factory to adjust the spices to make the products suitable for Chinese palates, she said.
To avoid risks, her company does not sell through the border with China and only supplies goods after getting the payment, she added.
Viet Nam shipped $749 million worth of aquatic products abroad in August, bringing the total in the first eight months of 2017 to $5.13 billion, up 18.1 per cent from the same period last year.
According to the Ministry of Agriculture and Rural Development, the largest buyers of Vietnamese aquatic products included the United States, Japan, China and the Republic of Korea, accounting for 55.6 per cent of total exports.
Export value to China showed the biggest increase of 57.2 per cent, followed by Japan (30.8 per cent), the United Kingdom (30.1 per cent), the RoK (28.8 per cent), the Netherlands (25.3 per cent) and Canada (20.7 per cent).
MARD to get involved in promoting organic farming
The Ministry of Agriculture and Rural Development (MARD) should coordinate with relevant ministries to promulgate a decree on organic agriculture.
This was said by Nguyen Xuan Hong, former director of the ministry’s Plant Protection Department, at a conference on organic farming held in Ha Noi on Thursday.
The event is designed to get opinions from experts, producers and enterprises to finalise a decree on organic farming before submitting it to ministries and departments for comments. Then, it will be sent to the Government for approval.
Once issued, the decree will contribute to developing Viet Nam’s organic agriculture sector, meeting the needs of domestic and international consumers, increasing income for farmers and businesses, and creating biodiversity and sustainable landscape.
At the conference, delegates revised the TCVN 11041: 2015 national standard for the producing, processing, labeling and marketing of organic food.
Participants spoke about the strict management of production, business and the certification of organic products.
Experts encouraged enterprises to invest in producing and trading organic products, investing in the production of organic fertilisers, biological fertilisers and biological plant protection products.
Hong said it was necessary to invest in scientific and technical research, create a favourable business environment for organic enterprises, and support cooperative groups who wanted to take up organic agriculture.
MARD deputy minister Tran Thanh Nam said domestic enterprises had invested in organic farming and actively applied international standards to meet the demands of the domestic market and exports.
Currently, many types of products are labelled organic, but most do not yet meet organic standards and safety requirements, causing lack of trust by consumers.
Therefore, Nam said it was necessary to develop a legal document to facilitate the development of organic griculture.
The conference was organised by MARD, in accordance with European Trade Policy and Investment Support Project (EU-MUTRAP).
It drew the participation of scientists, researchers, enterprises and producers of organic farming products.
Coal imports reduce in seven months
Viet Nam imported 7.9 million tonnes of coal worth US$801 million in the first seven months of the year.
The imports represented a 5.1 per cent decrease in terms of quantity and a 49.2 per cent increase in term of value compared the same period last year.
Statistics from the General Department of Customs revealed that in the seven-month period, Indonesia was Viet Nam’s largest coal exporter with 2.9 million tonnes and turnover worth $192.7 million, posting an increase of 48.2 per cent and 65.2 per cent year-on-year in terms of quantity and value, respectively.
Australia came second in coal exports by Viet Nam with 2.3 million tonnes worth almost $283 million, reducing 12.4 per cent in quantity but increasing 40.2 per cent in value.
Notably, the country’s coal imports from China in the period were sharply reduced from the corresponding period last year, from 1.16 million tonnes to 614,125 tonnes. However, export turnover increased from $93.8 million at the end of last year to $110.4 million.
The department said the main reason was the continuous increase in coal import price from China in the last seven months.
Sales Promotion Fair opens in HCM City
Scores of businesses are displaying a wide range of products at the 2017 Sales Promotion Fair that opened in HCM City’s Phu Tho Indoor Stadium on on August 30.
Organised by the Department of Industry and Trade, it has over 450 booths showcasing food and beverages, garments and textiles, footwear, electronic and electrical products, home appliances, handicrafts, cosmetics, interior and exterior decoration items, real estate projects, and tourism services, with many offering discounts of up to 49 per cent.
In response to the "For a Green Environment" movement, the fair’s organisers are providing free bags to shoppers.
The department has co-ordinated with the city Market Management Department and Commodities and Trademark magazine to display fake goods and identify genuine goods to warn consumers to be cautious.
Speaking at the opening ceremony, Nguyen Phuong Dong, the department’s deputy director, said the fair is an important activity for stimulating consumption and attracting visitors to the city.
The fair is part of the city’s 2017 Sales Promotion Month in which 3,000 enterprises and 5,300 business households are participating.
The fair will go on until September 4.
Thua Thien-Hue’s export turnover up 21%
The central province of Thua Thien-Hue shipped US$530 million worth of products to foreign countries in the first eight months of 2017, a year-on-year surge of 21.16 per cent.
The foreign-invested sector contributed $298 million, up 24.82 per cent, while $150 million came from the private sector, up 21.61 per cent.
The United States continued to be the largest purchaser, accounting for 40 per cent of the province’s export revenue. Along with traditional markets such as China, the European Union, Japan, South Korea and Taiwan, local products have also been shipped to Cambodia, India, Slovakia and Sri Lanka.
The export value registered a year-on-year surge of 17.47 per cent for industrial processed products, and 35.79 per cent for agro-forestry-fishery products. Notably, the export of aquatic products has doubled to $35.25 million, up 24.78 per cent against 2016.
Leading Thua Thien Hue’s textile market, Hue Textile and Garment Joint Stock Company earned VND1.57 trillion ($69 billion) in revenue and its export turnover was $85 million. The average monthly income of its employees is VND7.3 million per person.
In order to achieve the targeted growth of 10 per cent in 2017, Hue Textile and Garment JSC has started construction of two factories to increase production, including a VND70 billion garment factory in Phu Da Industrial Zone and another factory valued at VND35 billion in Nam Dong District.
Thua Thien Hue Province has spent $345 million purchasing materials from foreign countries, a 6.76 per cent rise compared to the same period last year. Most of the imports have been garment-support materials and spares, with China remaining its primary source for these imports.
Viet Capital Bank signs deal to distribute Bao Minh’s insurance products
Viet Capital Bank and Bao Minh Insurance Corporation on August 31 signed a bancassurance deal for non-life insurance.
Bao Minh Insurance Corporation will distribute its insurance products for assets, cargo, private homes, automobiles, personal health and accident, family health, domestic and international travel and others through Viet Capital Bank’s network of more than 62 branches in the country.
According to Viet Capital Bank, the tie-up will enable it to deliver the most cost effective and practical insurance products and services to customers.
Le Van Thanh, general director of Bao Minh, said after nearly 10 years of involvement in bancassurance, his company is confident of co-ordinating with Viet Capital Bank to offer appropriate product packages to customers.
New owner for unfinished AZ Lam Vien Complex
The Ha Noi People’s Committee allowed Lam Vien Construction and Investment Joint Stock Company to sell the entire AZ Lam Vien Complex to AZ Land, according to an announcement by the municipal Department of Construction.
Lam Vien Construction and Investment Joint Stock Company is responsible for handling any problems that may arise and ensure the rights of buyers and relevant parties.
Construction of the AZ Lam Vien, located on Nguyen Phong Sac Street, Cau Giay District, began in 2009 but its construction had been stagnant since then, despite the contractor changing from Vinaconex 1 to Lac Hong Investment in 2014. Its construction has stopped on the 13th floor for years.
The project has 29 floors and two basements with total investment of VND690 billion (US$30.4 million).
Phu Yen revokes VND800b hotel project
The People’s Committee of central Phu Yen Province has decided to revoke a VND800 billion (US$35.2 million) hotel complex project in Tuy Hoa City of Dien Bien No 1 Construction Company due to stagnant construction.
Muong Thanh Phu Yen’s investment policy was approved in July 1, 2016, covering 14,400sq.m. with 27 floors consisting of 200 five-star hotel rooms and 300 luxury apartments.
Accordingly, the developer was asked to complete legal procedures by September 2016, start construction of the project in October of the same year and complete it within one year.
Until now, the developer has, however, failed to start construction.
In June, the provincial People’s Committee asked the developer to submit the investment plan but received no response before the deadline.
Vinpearl to purchase 13.5m Nha Trang Port shares
Khanh Hoa Province People’s Committee has registered with the Ha Noi Stock Exchange to offload 13.5 million shares, or 55 per cent stake, in Nha Trang Port JSC.
The transaction is scheduled for between September 5 and October 4 and the shares will be sold via put-through trading.
The Khanh Hoa provincial government is holding more than 15 million shares of the Nha Trang port operator, equal to 61.4 per cent of the company’s charter capital.
The number of shares to be sold by Khanh Hoa Province’s government is also equal to the amount of shares that will be bought by Vinpearl JSC – a member company of property developer Vingroup.
If the deal is completed, Vinpearl JSC will raise its ownership in Nha Trang Port JSC to 85.5 per cent from the current 30.5 per cent. Vinpearl became a shareholder of Nha Trang Port JSC in 2015.
Shareholders of Nha Trang Port JSC approved the deal at the company’s shareholder meeting in early August.
The main business activities of Nha Trang Port JSC include loading, storage, logistics and marine transportation.
In the first half of 2017, the company posted VND28.4 billion (US$1.26 million) in revenue and VND2.57 billion in post-tax profit.
HNX raises $140m from Government bonds in August
The Ha Noi Stock Exchange (HNX) announced it has mobilised nearly VND3.2 trillion, or US$140 million, from 17 government bond auctions in August.
HNX said the number of bonds mobilised in the primary market decreased 79 per cent compared with July.
The bonds were offered for four tenures -- five years, seven years, 10 years, 15 years and 30 years.
The coupon rates of five-year term bonds were 4.6 per cent per annum, seven-year term bonds were at 4.8 per cent per annum, 10-year term bonds were at 5.38 per cent per annum, 15-year term bonds were at 5.75 per cent per annum and 30-year term bonds were at 6.1 per cent per annum.
Compared with July, coupon rates in August of five-year bonds dropped 0.12 per cent per annum, seven-year bonds reduced 0.15 per cent per annum and 30-year bonds declined 0.12 per cent per annum.
Coupon rates of 10-year and 15-year bonds saw no change in August.
In the secondary market, the total number of government bonds in outright transactions reached 902.5 million, which was equivalent to VND99.5 trillion, down 10.3 per cent in value month-on-month.
The total volume of government bonds in repo (repurchase agreement) trading reached 1,186 million, equivalent to VND119 trillion, up 20.4 per cent in value month-on-month.
Foreign investors also made outright purchases of more than VND4.9 trillion and outright sale transactions of over VND5.5 trillion. They made repo sales of over VND98.9 trillion and no repo buys in August.
Toyoda to build airbag plant in VN
Toyoda Gosei Co., Ltd. on Wednesday released plans on its website to establish a new plant for producing airbag parts in the northern province of Thai Binh, Viet Nam.
According to the announcement, the factory has total investment capital of US$24.6 million and construction is expected to start in March, 2018.
The plant is planned to be built on an area of 2.08ha in Thai Binh Province’s Tien Hai Industrial Park and is designed to meet growing demand for airbags, as safety regulations become more stringent in regions around the world.
The new plant will be established as a branch plant of Toyoda Gosei’s subsidiary Toyoda Gosei Hai Phong Co., Ltd. (TGHP), and will start production of airbag parts and steering wheels in July 2019 for export to final airbag assembly plants in Japan, North America, Europe and other regions.
In 2004, Toyoda Gosei established the first plant to manufacture airbag parts in Hai Phong City with investment capital of $74.95 million. To date, Toyoda Gosei has three plants in operation in Hai Phong’s Nomura Industrial Zone.
In 2016, the plants’ production capacity was 14.5 million airbag parts and 2.2 million steering wheels. The company targets to increase these figures to 23 million airbag parts and 3.2 million steering wheels by 2023.
Established in 1949 and headquartered in Kiyosu, Japan, Toyoda Gosei is a leading specialty manufacturer of rubber and plastic automotive parts and LEDs. Today, Toyoda Gosei Group provides a variety of high-quality products internationally, with a network of some 100 plants and offices in 18 countries and regions.
Airbags and other safety system products are a key business segment for Toyoda Gosei and the company is moving to strengthen its production capacities for these products globally.
International shipbuilding expo returns to Ha Noi
The 9th International Exhibition of Shipbuilding, Shipping, and Offshore Technology (Vietship 2018) will return to the capital early next year, the event’s organisers announced on Thursday.
The forthcoming expo will draw the participation of leading enterprises, including those from foreign countries having developed maritime industries, such as Japan, South Korea, Singapore, China, France, Norway, Belgium and the Netherlands.
The biennial event will offer a good chance for businesses and investors to approach useful information, share state-of-the-art technologies and seek investment opportunities to further accelerate the development of the shipbuilding industry, organisers said.
Hosted by the Shipbuilding Industry Corporation (SBIC), Vietship 2018 will take place at the National Convention Centre from January 24 to January 26. It is expected to attract more than 10,000 visitors. Conferences on the shipbuilding and maritime industries will be held on the sideline of the expo.
The previous event saw 19 contracts and agreements worth over VND500 billion (US$22.4 million) inked between domestic and foreign partners. It had 220 stands from 130 companies, including 78 foreign firms.
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Agricultural
Biotechnologies in Asia-Pacific
Update: September,
06/2017 - 15:35
The many uses of biotechnology in helping to feed the world’s hungriest region – Asia and the Pacific
As an economist by profession, understanding
the complex world of agricultural sciences involves a learning curve. When we
talk about employing biotechnologies in agricultural production and sustainable
food systems for better nutrition it’s easy to get lost in the jargon. You’ve
probably heard some of it – use of molecular markers, microbial food
fermentation, reproductive technologies in livestock, DNA-based kits to
diagnose diseases in farmed fish and of course genetic modification.
For our part, at the UN’s Food and Agriculture Organisation,
we are encouraging governments, researchers and the private sector to take bold
steps to ensure safe, evidence-based agricultural biotechnology is
placed into the hands of smallholder farmers, fishers and pastoralists.
And we need to get on with that now, as our
Asia-Pacific region
is increasingly facing some predictable and unpredictable results of climate
change and the future effects these will have on agricultural production,
particularly for smallholders who are the least equipped to deal with
climate-related shocks.
The challenges we already face are enormous –
and that’s why we need to make use of all available technologies that we know
are safe – both old and new. This region has nearly half a billion hungry and
malnourished people – more than 60 per cent of the world’s total. Consider the
2030 deadline to deliver all 17 of the world’s Sustainable Development Goals,
and the 2050 mid-century point where our children will be living among some
nine to ten billion people competing for limited natural resources and you get
the picture.
FAO has a number of good case studies on the
use of agricultural biotechnologies, but I want to look at just two here.
In several countries in this region, floodwater
incursions into rice paddies has long been a major problem. But scientists at
the International Rice Research Institute, working with partners, have
developed a version of rice that can still thrive when submerged in floodwater.
This flood-tolerant rice, known better by its nickname “Scuba Rice” is a good
example of how scientists and farmers can come together in tackling some of the
more complex problems that the environment can
throw at those who often struggle to produce the food we eat each day.
In India, where
some 10 per cent of the land used for growing rice is prone to submergence,
this has led to low rice yields and sometimes complete loss of the crop. Using
molecular markers, which enable genes to be associated with the traits they
encode, IRRI’s scientists and partners were able to identify the gene
responsible for this tolerance when submerged. In short, through breeding
techniques, the gene for submergence tolerance could be bred into popular rice
varieties, generating new submergence-tolerant rice without losing flavour and
still producing high yields. It is now grown by millions of farmers in India.
Other rice varieties tolerant to submergence are being grown in Bangladesh and Việt
Nam.
In Thailand, a
global seafood hub, breeding a hybrid catfish using artificial insemination
from two species has resulted in a hybrid which performs better than the
average of either parental species. Researchers noted that the local Thai
broad-headed catfish, a favourite food due to its favourable colour and
texture, was slow to grow and susceptible to diseases, making it difficult to
culture on a commercial scale. By contrast, the African sharp-tooth catfish,
was known for its high growth rate and low susceptibility to diseases. Breeding
the two catfish species together has resulted in a ‘hybrid vigour’ (both
palatable and fast growing), making it ideal for aquaculture in Thailand.
Production of hybrid catfish has skyrocketed from less than 18,000 tonnes in
1990 to more than 150,000 tonnes.
Use of this biotechnology has
created a huge expansion of aquaculture and related industries in Thailand and
has provided greater access to high-quality protein food for poorer people in
rural areas.
With the clock ticking toward 2030 and 2050,
FAO is convening high-level regional meetings on agricultural uses of
biotechnologies to achieve sustainable food systems and better nutrition. The
first such meeting is taking place in Kuala Lumpur, on September 11-13,
co-organised by FAO and the Malaysian Government. The purpose is to offer an
open and neutral forum for the exchange of ideas and practices between representatives
of member countries, intergovernmental organisations, research institutions,
farmer organisations, cooperatives, academia, civil society and
the private sector. The participants will study examples where the use of
biotechnologies has worked well and areas where it has worked less well in the
production of crops, fisheries, forestry and livestock. With more than half a
billion hungry and malnourished people in this region, we need to work together
while looking at all forms of food production – and without delay.
*Kundhavi Kadiresan, assistant director-general
and regional representative (Asia-Pacific)
of the Food and Agriculture Organization
of the United Nations
Read more at http://vietnamnews.vn/opinion/op-ed/393316/agricultural-biotechnologies-in-asia-pacific.html#CIQ2gLWA5yOHZgWK.99 http://vietnamnews.vn/opinion/op-ed/393316/agricultural-biotechnologies-in-asia-pacific.html#kMt4JGghspzF6zbV.97
http://vietnamnews.vn/opinion/op-ed/393316/agricultural-biotechnologies-in-asia-pacific.html#q48pDDXEZZoVSEpk.97
Does Uganda need GMOs? Scientists
look to gene editing to spur innovation
PRINTER FRIENDLY
58211
Ugandan scientists converged this
summer at a biosafety forum in Kampala organized by Uganda’s national council
for science and technology to share experiences on biotechnology research. The
forum that brings legislators and communicators to join scientists, also had a
visiting professor from Brazil — Paulo Paes De Andrade. His presence was enriching,
especially his experience with biosafety regulations in Brazil and ongoing
works with gene editing.
The annual event brings technology developers and regulators
together. Uganda has the largest number of transgenics in trials in Africa. But
in the absence of a comprehensive biosafety law, scientists are finding it
difficult to proceed beyond confined trials. To help spur government action,
biotech supporters working with the Uganda National Council for Science
and Technology invited a prominent Brazilian geneticist to reinforce their
case.
Brazil is one of the world’s leading biotech crop centers, and the
professor of genetics at the Federal University of Pernambuco, Recife, Brazil,
is one its leading proponents. The future in agriculture, he said rests not
with aging transgenic technology but in gene editing.
Brazilian Professor addresses Ugandan scientists at a Biosafety
Forum in Kampala.
De Andrade explained how scientists worked together to challenge
the anti-GMO propaganda campaigns orchestrated by foreign-funded Greenpeace and
other advocacy groups — most based in Europe. Now anti-technology groups are
focusing on gene editing.
The battlefront became clear, he
said, in Cancun, Mexico in 2016 at the United Nation’s Convention on
Biological Diversities (CBD). Several “familiar” voices pushed
for the moratorium on gene editing, claiming the risks were not known and “more
studies” were necessary.
Will the CBD take the
“precautionary approach” on gene editing like they did in the Cartagena
Protocol on G.E Biosafety?
The Uganda representative at the talk, David Hafashimana, who
participated at the CBD conference, confirmed that the moratorium issue was
raised but no solid decision was made. It’s expected to be a hot issue at subsequent
CBD members meetings.
Anti-GMO activists frequently
invoke the so-called “precautionary principle” — an ideological notion that
argues that if absolute safety cannot be confirmed in the exercise of a new
technology, it should be banned. Of course nothing can be proven safe. But
support for the idea by biotechnology critics resulted in its inclusion in
the Cartagena Protocol on
Biosafety. It has since evolved into a potent tool used by GMO opponents to
restrict the introduction of crop biotechnology in the developing world.
Several African countries enact laws which cite ambiguous precautionary fears
to justify blocking or slowing research. Over the years some African countries
— notably Ethiopia and Tanzania — have pushed back against these precautionary
rules and NGO activist scare propaganda to amend their laws. Trials are now in
advanced stages in those countries.
Uganda looks to gene editing
(CRISPR/Cas9) to improve rice and other crops
As most African countries grapple with whether to adopt GE crops,
scientists globally are beginning to explore gene editing technology,
especially CRISPR/Cas9 in improving crops and medicine. The National
Agricultural Crops Resources Research Institute in Uganda has started the
process of using CRISPR to develop local rice varieties to resist bacterial
blight. Bacterial blight is caused by
the bacterial pathogen Xanthomonas campestris. It causes wilting of
seedlings and yellowing and drying of leaves.
According to the International Rice Research
Institute, yield loss due to bacterial blight can be as high as
70 percent when susceptible varieties are grown in environments favorable to
the disease. In Uganda, most of the rice is grown in lowland areas where blight
is more virulent. Rice is becoming an important crop in Uganda partly because
of the availability of several productive areas around fresh water lakes. Rice
also takes little energy to prepare into a meal. The increase in production
though is causing environmental degradation of wetlands needed to protect Lake
Victoria from pollution but also facilitating rapid drainage during prolonged
drought leading to insufficient water for animals.
Other key issues discussed at
the Biosafety Forum 2017
Ugandan scientists working on several projects discussed a variety
of other issues including: Uganda’s readiness for the environmental impact if
GM crops are approved; recent advances in gene drive research in mosquitoes and
malaria control; how Africa and Uganda can benefit from synthetic biology;
progress made towards developing genetically enhanced vitamin A banana and
bacterial wilt resistant banana; and responding to climate change by improving
cassava and maize to resist viruses and drought respectively.
Scientists called upon their members of parliament to enact a
biosafety law that will help farmers who are losing yields to pests, diseases
and drought that could benefit from GE crops, many of which are in advanced
stages of development. This historic bill, if passed, has a potential to usher
Uganda into the modern age of agriculture.
Isaac Ongu is an agriculturist,
science writer and an advocate for science based interventions in solving
agricultural challenges in Africa. Follow him on Twitter @onguisaac.
https://geneticliteracyproject.org/2017/09/05/uganda-need-gmos-scientists-look-gene-editing-spur-innovation/
Nutrient availability in model
wetlands helps regulate microbial metabolism and soil carbon cycling rates
September 6, 2017
Study co-author Rhonzhong Ye and graduate student Jennifer Morris
collecting greenhouse gas fluxes from the rice fields studied on Twitchell
Island, Calif. Credit: Wyatt Hartman
Studying microbial communities in San Joaquin Delta rice fields,
researchers linked microbial metabolism and nutrient availability to soil
carbon cycling rates.Establishing the inter-relationships among microbial
metabolism, nutrient availability and soil
carbon cycling rates is critical to applying genomic
information to understand the global
carbon cycle. In showing how microbial
metabolism is regulated by coupled nutrient cycling and soil
carbon availability, researchers demonstrate how genomics studies of microbial
communities can be scaled up to the ecosystems level, which
will contribute to a deeper understanding of ecological processes and will aid
the development of better global carbon cycling models.
In order to better understand the relationship between carbon
cycling, nutrient availability, and microbial communities in
soil it is necessary to conduct studies across a nutrient gradient. Rice fields
are model wetland systems that allow researchers to focus on chosen
biogeochemical variables, while factors such as water and vegetation are
controlled. Adjacent to the Twitchell Island restored wetlands are rice fields
with soil carbon contents that can vary between 2.5 percent and 25 percent,
covering much of the global range of carbon found in soils. Wetlands are of
interest to the U.S. Department of Energy to understand the roles of microbial
communities in long-term impacts on carbon emissions and carbon sequestration.
These ecosystems can trap as much as 30 percent of global soil carbon but
contribute nearly 40 percent of global methane emissions, providing an
opportunity to understand their roles as both carbon sinks and carbon sources.
Researchers at the Joint Genome Institute, a DOE Office of Science User
Facility, studied the ecosystems of Twitchell Island in the Sacramento-San
Joaquin Delta, where the U.S. Geological Survey had a pilot study on restored
wetlands.
A combination of metagenomic sequencing of soil samples,
biogeochemical characterization and weekly greenhouse gas emission measurements
led to the team's results, published in the ISME Journal. The
findings suggest that the microbial metabolic rates align with Biological
Stoichiometry Theory, a metabolic theory of ecology that suggests organisms
with faster growth rates require more phosphorus to increase nitrogen-rich
protein synthesis. Until now, this theory had not been applied to soil microbes
in situ due to methodological limitations, which the scientists addressed using
a novel genomic approach.
Studying the microbial communities in these soils, the researchers
found that the rate at which microbes break down organic matter is coupled to
the availability of carbon, nitrogen and phosphorus in the soils. Specifically,
the availability of phosphorus is a key factor in determining soil carbon
cycling rates. An abundance of phosphorus increases microbial activity and
metabolic rates, which in turn means higher carbon turnover. Lower phosphorus
in high carbon soils may help stabilize accumulated carbon, while high
phosphorus soils may more rapidly lose carbon stores. These associations at the
ecosystem scale were also reflected in genomic data from the soil microbes
which drive soil element cycling.
Soil metagenome sequence data were assessed for microbial
potential to metabolize carbon, nitrogen and phosphorus, while predictive
functional profiling software allowed the researchers to compare tradeoffs in
these functions among microbial lineages. This approach revealed clusters of
genome sequences that could be grouped into "guilds" based on genomic
profiles of metabolic genes, which the researchers used to develop novel
predictive models of microbial community composition and soil carbon cycling.
This work is an important advance toward understanding the relationship between
microbial communities and soil nutrients and the effects of those
interactions on ecosystem activity and health.
More information: Wyatt H Hartman et al. A
genomic perspective on stoichiometric regulation of soil carbon cycling, The
ISME Journal(2017). DOI: 10.1038/ismej.2017.115
https://phys.org/news/2017-09-nutrient-availability-wetlands-microbial-metabolism.html
Helping farmers dispose off
agricultural residues better 
1 India is a country whose population largely depends
on agriculture, with 50% of its population being employed in agriculture, and
revenue from agriculture and other allied fields contributing 13.7% of our
country’s GDP. Most farmers in India face various challenges on a day-to-day
basis and disposing off the agricultural residue that remain after a crop is
successfully harvested, is one such major issue faced by millions of farmers.
Agricultural residues include
various parts of the crop that cannot be used as food, like the stalk,
stubbles, leaves, husks and seed pods. Conventional ways of disposing these
residues have generally relied on using these residues as fodder, as
fertilizers after being ploughed into the ground, or burning them completely.
Additionally, newer methods of utilizing and disposing these crop residues,
like converting them into biofuels, are all promising, but have not yet been
fully developed. Thus, there is a genuine need for further study and research
in this area to come up with more functional, practical and efficient ways of
disposing or recycling the crop residues. One such study by the scientists from
CSIR- Indian Institute of Petroleum and AS College, looks at enhancing and
optimising the burning efficiencies of four agricultural residues: corn cob, wheat
straw, rice straw and rice husk, in order to produce the maximum amount of
bio-oils as a by-product.
The scientists carefully studied
the pyrolysis of crop residues. Pyrolysis refers to the thermal degradation of
organic matter in the absence of oxygen under high temperatures, and is known
to release liquid and gaseous by-products, while leaving a carbon- enriched
char behind. The process of pyrolysis is frequently used to get rid of
vegetation and agricultural residues as it is quick, easy and convenient. The
scientists studied the effect of pyrolysis temperatures and biomass type on the
yield of bio-oils as a by-product. While wheat and rice straw yielded maximum
bio-oils at 400 ℃, corn cob and rice husk yielded maximum bio-oils when burnt at
450℃. Corn cob was also shown to
yield the maximum amount of bio-oils, while rice husk yielded the least. Such
studies could help our farmers dispose off these agricultural residues in more
efficient ways in the future
US rice mills want China
to hurry up and seal the deal
It took more than a decade to get China to agree to the protocols that were officially signed on July 19, but now U.S. government and industry officials are optimistic it will be just a few more months until China begins importing its first shipments of U.S. rice.
But first a delegation of officials from China’s General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) – the Chinese equivalent of USDA’s Animal and Plant Health Inspection Service (APHIS) - has to visit and confirm that U.S. rice mills, storage and port facilities conform to the protocols that were agreed upon.
A U.S. government official tells Agri-Pulse that the USDA has invited the Chinese delegation to make its trip later this month, but AQSIQ has not yet responded. If the Chinese do come in late September – and U.S. officials say they are optimistic that they will – that will pave the way for U.S. exports. Exactly how long the AQSIQ team stays and how many facilities they visit will be up to the Chinese.
“They’re not going to be able to visit every facility, obviously,” the U.S. government source said. “They will randomly select a number of facilities and they will go out to see that they are meeting the conditions that were agreed to.”
If the Chinese allow the USDA to choose which facilities will be inspected, the USDA is ready for that, another government official told Agri-Pulse.
“APHIS has identified processing and storage facilities for AQSIQ to inspect and verify compliance with the terms and conditions of the protocol,” the official said. “The U.S. rice industry is aware of this requirement and is prepared to support these inspections … AQSIQ will also provide to APHIS a list of designated ports of entry in China eligible to import U.S. rice.“ U.S. officials asked not to be identified as they have not been authorized to comment on the China-rice deal.
One of the main things the Chinese will be looking for is bugs. A major hurdle during the protocol negotiations were Chinese demands in 2015 that the U.S. prove that its rice supplies were not contaminated with the Trogoderma granarium. The voracious bug, better known as the Khapra beetle, can do major damage in grain warehouses.
As part of the protocols – which have been shared with the industry but not yet made public -- owners of mills and storage facilities have to set traps for the pests. China is demanding access to data gained from the traps. The USDA does not collect that data, a USDA official said, but APHIS does do audits to make sure the facilities are following the proper procedures.
Khapra beetle
The Khapra beetle, which looks like a small brown lady bug, historically has been a major problem in countries like China, but the pest has rarely been found in the U.S. and then usually in imported containers. China’s concern is understandable because the beetle is considered one of the world’s most damaging pests when it comes to grain. An infestation can easily destroy 70 percent of an entire grain bin and the pests are very hard to kill because of their resistance to most insecticides.
Related pests that the U.S. has to show the rice industry is free of include Pharaxonotha kirschi, Tribolium audax, Trogoderma anthrenoides, Trogoderma sternale and Trogoderma versicolor.
One Louisiana miller, who asked not to be named, said he is maintaining the traps and is fully prepared if the Chinese choose his facility to inspect.
There was some initial resistance from U.S. millers at maintaining the traps and keeping records that could be accessed by U.S. and Chinese government officials, but eventually, most agreed.
That was likely because the rice industry is heavily dependent on exports and China is the world’s largest rice importer. Officially, China imported about $1.6 billion worth of rice last year, according to USDA data. Unofficially, however, the country buys a lot more, say analysts and farm group representatives. Industry data show that China purchases about 2 million tons of rice annually, but analysts say the real amount is closer to 5 million tons, including a lot of unrecorded shipments from Vietnam and other countries.
#30
For more information, go to: www.Agri-Pulse.com
https://www.agri-pulse.com/articles/9798-us-rice-mills-want-china-to-hurry-up-and-seal-the-deal
Among the plethora of FTAs being
negotiated or re-negotiated is the Pakistan Gulf Cooperation Council FTA.
Comprising of UAE, Bahrain, Saudi Arabia, Oman, Qatar, Kuwait, and Yemen, the
GCC countries is oil exporting bloc with an average per capita income of $30.5
thousand and annual imports of $432 billion. Pakistan’s exports to GCC
countries are less than $2 billion, accounting for less than 10 percent of
Pakistan’s total exports. On the other hand, $14 billion of Pakistan’s imports
were from GCC countries, comprising of 34 percent of Pakistan’s total
imports.There is definitely potential for Pakistan’s exports. For example, Pakistan has only a 12 percent market share in the rice imports of GCC countries whereas India has the lion’s share of the $2.2 billion market. Medical instruments market is another that can be tapped. GCC’s imports in 2016 were $1.6 billion of which Pakistan’s share was less than 1 percent.
Imports from GCC countries is obviously comprise heavily of oil with the bulk of imports originating from UAE, followed by Saudi and then Kuwait. The average tariffs levied on oil imports from these countries as per ITC data was 8 percent in 2016.
Keeping the politics of Qatar crisis aside, trade with GCC can be beneficial. If savvy ministry officials can negotiate favourable tariffs and terms for Pakistan’s exports, there is a huge appetite for consumption in the GCC countries that prefer to export oil and import everything else.
However, the GCC countries are among the richest in the world. Their dependency on oil exports is so high that they prefer to import manufactured goods and high end items like gold jewellery, diamonds, and cars. Pakistan’s top exports are resource based, not value added. In that itself, Pakistan’s exports have a limited market. For example, there is little potential for cotton since these countries tend to import readymade garments rather than make their own.
But the biggest risk of an FTA with GCC countries lies in Pakistan’s oil imports. An FTA skewed towards GCC countries may result in an exponential increase in the trade deficit if it raises Pakistan’s petroleum bill. After the FTA with China, a potential FTA with GCC countries can pose the biggest threat to Pakistan’s current account.
Given Pakistan’s history in negotiating FTAs, the efficacy of this FTA in promoting Pakistan’s exports and improving its trade deficit remains highly doubtful. If this FTA is negotiated on lines similar to other trade agreements, Pakistan stands to lose a lot.
http://www.brecorder.com/2017/09/06/367838/another-mistake-in-the-making/
Ghana’s rice production to match demand; cause reduction in
importation
Source: Ghana | Luv FM | Kwasi Debrah
Date: 05-09-2017 Time: 01:09:52:pm 
Rice production in Ghana has the
potential to meet local and international demand in the next few years.That’s a
projection by Senior Research Scientist and rice breeder at the Crops Research
Institute, Dr. Maxwell Asante.His comment follows the release of six lowland
rice varieties developed by the research organization in Kumasi.
Rice is the second most important
cereal and major staple in Ghana, besides maize.Figures from the Ministry of
Food and Agriculture show current annual per capita consumption of about 40kg
per person is expected to hit 63 kg by next year.
Unfortunately, the rice industry is
characterized by low production, low average yield and poor grain quality,
resulting in heavy dependence on imports.The need to increase production to
meet increasing consumer demand of the disease-resistant and preferred local
variety is ever imperative.
Crops Research Institute breeders
have therefore set out to develop new high-yielding jasmine and conventional US
long grain rice types in Ghana.For the first time, six new varieties, four of
which were wholly developed in Ghana, have been out-doored.
Experts say besides their pest and
disease-tolerance as well as high-yielding features, the varieties are of high
cooking and aromatic quality.Initial consumer acceptability test has already
been carried out in the Ashanti Region and Afife in the Volta Region.All the
varieties, cooked or otherwise, received approval from consumers in both
locations.
The National Varietal Release Committee has also
accepted all six varieties for release onto the local market.Dr. Asante is
hopeful the newly- released varieties would go help reduce Ghana’s dependence
on foreign rice imports
https://www.myjoyonline.com/news/2017/September-5th/ghanas-rice-production-to-match-demand-cause-reduction-in-exportation.php
Customs delists 197 bidders from e-auction
Owing to bogus bidding in the
ongoing e-auction exercise of the Nigeria Customs Service
(NCS), it has delisted 197 Tax Identification Numbers (TIN) of fraudulent
bidders from the platform.
The Public Relations Officer
(PRO), Mr. Joseph Attah disclosed this to The Nation in his officer at Abuja
Tuesday.
He said that the NCS has
generated N161, 194,908 into the federation account from the exercise that has
recorded 4,764 bidders among whom 4,345 e-wallets were enabled or recharged.
According to him, from July
3 that the e-auction was launched, the NCS has recorded nine
windows of 48hours each. Attah said that
“from these nine Windows, a total of 649 winners have emerged so far. And this
process has already generated N161, 194,908 to the federal government account.
Statistics shows that a total of 4 764 people registered and that those who
were able to recharge their e-wallet and were properly enabled were 4,345
persons.”
He told The Nation that the
initial challenges that were recorded in the exercise have been overcome since
the 4th edition of the e-auction the process has been seamless.
On the complaints that associated
with the exercise, the PRO said that “the first complaint was that it was only
one bank. Eventually all the banks have come in. And that has been dealt
with. Then we noticed some criminal
tendencies, where people arrange with themselves and somebody will bid and
another person will bid bogus and unrealistic figure. The intention was that
after you win you won’t go and take it so that your friend who is the next
bidder will take it.
“That has been taken care of
because the system has been reconfigured in such a way that there is a certain
amount you cannot bid beyond. If you bid a bogus amount it will not even accept
it. So that has been dealt with.
“The second highest bidder option
which was a motivation for that practice has been jettisoned. If you win and
you are not able to pay within five days, we take it that you are not a serious
person and therefore we just deactivate your TIN from the platform.”
He said that rice importation
through sea has decreased drastically following the rise in the cultivation of
rice in the country.
We believe that with the increase
in locally produced rice we don’t need to advise the importers of rice to begin
to think twice to either return home to start cultivating rice or reduce their
amount of import instead of coming to sell at a giveaway price.”
Attah noted that in as much as we
have Nigerians that are willing to consume the local rise than imported rice,
it behoves on the importers to reduce their volume of rice importation.
His words: “We have more local
production today than two years back. Local production is on the increase, more
Nigerians prefer to eat the local rice to the foreign one. It makes economic
sense for those into the importation of rice to reduce.”
http://thenationonlineng.net/customs-delists-197-bidders-e-auction/
Government to evaluate
implementation of rice ceiling price
5th September 2017 |
Jakarta (ANTARA News) - The government will evaluate
the implementation of the ceiling price of rice in modern and traditional
markets, with the commoditys average price currently at Rp10,610 per kilogram
(kg) for medium-quality rice.
Trade Minister Enggartiasto Lukita stated here on Tuesday that rice traders claimed they still had earlier rice stocks bought at a higher price due to which they will need a transition period before they can adhere to the ceiling price for medium- and premium-quality rice.
"The regulation (of the rice ceiling price) came into effect on Sept 1, and there are previous stocks. Next week, we will evaluate to review its implementation. We can warn (the traders)," Enggartiasto noted.
Ministerial Regulation No. 57 of 2017 on the rice ceiling price will be effective not only for modern markets but also for traditional markets.
"We have summoned the Indonesia Retailers Association, as they could sell their previous stocks, but the price must be lowered. In traditional markets, they still have a transition period, as they have to first sort out the rice types," the minister added.
The government has set the rice ceiling price for medium and premium quality in a bid to maintain the peoples purchasing power and control the inflation rate.
The ceiling price for medium-quality rice in the regions of Java, Lampung, South Sumatra, Bali, West Nusa Tenggara, and Sulawesi was set at Rp9,450 per kg while for premium quality at Rp12,800 per kg.
For Sumatra region except Lampung and South Sumatra, East Nusa Tenggara, and Kalimantan, the ceiling price for medium-quality rice was set at Rp9,950 per kg and Rp13,300 per kg for premium quality.
For Maluku, including North Maluku and Papua, the ceiling price of medium-quality rice was set at Rp10,250 per kg and Rp13,600 per kg for premium quality.
The government has categorized the commodity into three types based on Agriculture Ministers Decree No. 31 of 2017 on rice quality.
The first type is medium-quality rice, with minimum 95 percent of milling degree, maximum 14 percent of moisture content, and maximum quantity of broken rice at 25 percent.
Medium-quality rice can be sold in bulk or packages, with labels detailing the quality and its ceiling price.
The second type is premium-quality rice, with 95 percent of milling degree, maximum moisture content of 14 percent, and maximum quantity of broken rice at 15 percent.
This type of rice must be sold in packages, with labels detailing the quality and its ceiling price.
Another rice category was special rice including Thai Hom Mali, Japonica, Basmati, sticky rice, organic rice, and rice, with a geographical indication certificate.
The commoditys average price has also recorded an increase since the implementation of the ceiling price in early September.
According to the ministrys Basic Necessities Monitoring System, the national average price for medium-quality rice as of Tuesday was Rp10,610 per kg, a slight increase from Rp10,596 per kg on Monday.(*)
Trade Minister Enggartiasto Lukita stated here on Tuesday that rice traders claimed they still had earlier rice stocks bought at a higher price due to which they will need a transition period before they can adhere to the ceiling price for medium- and premium-quality rice.
"The regulation (of the rice ceiling price) came into effect on Sept 1, and there are previous stocks. Next week, we will evaluate to review its implementation. We can warn (the traders)," Enggartiasto noted.
Ministerial Regulation No. 57 of 2017 on the rice ceiling price will be effective not only for modern markets but also for traditional markets.
"We have summoned the Indonesia Retailers Association, as they could sell their previous stocks, but the price must be lowered. In traditional markets, they still have a transition period, as they have to first sort out the rice types," the minister added.
The government has set the rice ceiling price for medium and premium quality in a bid to maintain the peoples purchasing power and control the inflation rate.
The ceiling price for medium-quality rice in the regions of Java, Lampung, South Sumatra, Bali, West Nusa Tenggara, and Sulawesi was set at Rp9,450 per kg while for premium quality at Rp12,800 per kg.
For Sumatra region except Lampung and South Sumatra, East Nusa Tenggara, and Kalimantan, the ceiling price for medium-quality rice was set at Rp9,950 per kg and Rp13,300 per kg for premium quality.
For Maluku, including North Maluku and Papua, the ceiling price of medium-quality rice was set at Rp10,250 per kg and Rp13,600 per kg for premium quality.
The government has categorized the commodity into three types based on Agriculture Ministers Decree No. 31 of 2017 on rice quality.
The first type is medium-quality rice, with minimum 95 percent of milling degree, maximum 14 percent of moisture content, and maximum quantity of broken rice at 25 percent.
Medium-quality rice can be sold in bulk or packages, with labels detailing the quality and its ceiling price.
The second type is premium-quality rice, with 95 percent of milling degree, maximum moisture content of 14 percent, and maximum quantity of broken rice at 15 percent.
This type of rice must be sold in packages, with labels detailing the quality and its ceiling price.
Another rice category was special rice including Thai Hom Mali, Japonica, Basmati, sticky rice, organic rice, and rice, with a geographical indication certificate.
The commoditys average price has also recorded an increase since the implementation of the ceiling price in early September.
According to the ministrys Basic Necessities Monitoring System, the national average price for medium-quality rice as of Tuesday was Rp10,610 per kg, a slight increase from Rp10,596 per kg on Monday.(*)
http://www.antaranews.com/en/news/112518/government-to-evaluate-implementation-of-rice-ceiling-price
Lolo Peak Fire at 45,000 acres, Rice Ridge Fire at 100,000 Acres
Michael Coats
Sep 04, 2017 10:17 PM MDT
Sep 04, 2017 10:25 PM MDT
Lolo Peak Fire Update Sept 4th
The Lolo Peak fire burning south
of Missoula has grown to over 45,000 acres.
The National Forest Service
reports the fire is a long duration wildfire with the potential to
reach the corridors of Highway 12 And Highway 93. The fire was very active
Sunday night and early Monday, thanks to gusty winds.
Evacuation orders are still in
place for areas west of Highway 93 and south of Highway 12.
"The following evacuation
zones are under an Evacuation Order: Sweeney Creek, Larry Creek, and North Bass
Creek. The fire was vey active overnight due to a strong thermal belt. Torching
Sub-alpine fir trees caused spot fires west of division Bravo. The spots grew
to a 300 acre area outside the primary containment line. Indirect lines will be
identified, constructed, and used to contain this new fire edge. This
uncontained fire has potential to threaten Highway 12 and private property and
structures along that route. Resource needs reflect this additional work.
Unified command remains in place between Turman's Type 1 Incident Management
Team, Missoula County Rural Fire and Ravalli County Fire Warden. Reported
containment reflects portions of the perimeter where the fire has been engaged
at control lines and has been contained. A large portion of the fire along the
southwest, south, and southeast perimeter has not reached containment lines at
this time."
The Rice Ridge fire north of
Missoula near Seeley Lake continues to grow. That fire is now at 101,424
Acres and 7% contained. "The Rice Ridge Fire, caused by lightning,
started July 24th. The fire is located northeast of Seeley Lake, Montana on the
Lolo National Forest. The community of Seeley Lake and surrounding areas are
threatened by this fire, multiple evacuation orders and warnings are in effect
for Missoula and Powell counties " the Forest Service says.
Copyright 2017 NPG of Idaho. All rights reserved. This material
may not be published, broadcast, rewritten or redistributed.
http://www.localnews8.com/news/lolo-peak-fire-at-45000-acres-rice-ridge-fire-at-100000-acres/616549589
Located in Edmonds, Howard
Chermak is selling Chermak Construction after 37 years. (Ian Terry / The
Herald)
Why going
against grain helped Edmonds’ Chermak Construction grow
Tue
Sep 5th, 2017 1:30am
EDMONDS
— For 37 years, Howard Chermak has run a construction business a little bit
different than other construction companies.For instance, he and his wife Judy
would meet with a counselor every other week to talk about their thoughts and
feelings about the business and personnel.“I don’t think you and I could sell any of my construction friends on it now,” Chermak said. “That’s not a path very many people would take. Yet, for me, it was excellent.”
He credits it with helping Chermak Construction grow and get through tough times. The Edmonds firm, which specializes in home remodeling, also has won praise from clients and acclaim through a host of industry honors, including several national and regional awards.
Now, the Chermaks have sold the business at 655 Edmonds Way to Noah France, who owns France Construction, a wood finishing business in Woodinville. France is moving his operations to Edmonds and will continue Chermak Construction under its original name.
The Chermaks said they have had a few other serious offers over the years, but they felt France would be best to carry on the company.
“We have a wonderful new owner,” Judy Chermak said. “We’re very pleased and excited about him. He’ll be a wonderful asset to the business and the community.”
Howard Chermak didn’t set out to enter the construction business. He trained as a teacher and speech therapist. His family moved to Edmonds from Minnesota in 1962 when he was 15.
After graduating from Western Washington University in 1969, he served a couple of years in Vietnam in an artillery unit. When he got back to the states, Chermak was hired to teach in northern Minnesota where he was originally from. He didn’t see a future for himself teaching.
“I couldn’t see a clear path for where a speech therapist would go,” Chermak said. “You might be the regional person, but there’s one of those for 50 therapists. There’s not a lot of upward motion for speech therapy.”
In the summer months, he’d head to Minneapolis for construction. After a couple of years, he moved back to Edmonds and went to work full time in construction doing a series of jobs painting, wallpapering, framing and tiling.
For six years, he worked for an architect who doubled as a builder. Chermak became the superintendent working on custom homes with often hard excavations, difficult foundations and sophisticated designs. When interest rates for mortgages shot up in the late 1970s, the architect couldn’t continue the business.
“He gave me the truck and tools I had been using for his business,” Chermak said. “He gave them to me and he shook my hands and said, ‘I’m sorry I can’t employ you anymore.’ That was completely understandable, however. I just went out and started working for people by word of mouth.”
And that’s how Chermak started his own business. Things started slowly at first. During a divorce, Chermak started seeing a family counselor, Frank Miller.
Although most counselors maintain a professional distance from clients, Miller and Chermak became friends and he met Judy Rice, Miller’s significant other, who took a job with Chermak Construction.
Chermak brought Miller and Rice onto the board of the company. Chermak brought the construction skills, but Miller and Rice added business acumen and knowledge of people.
It turned out to be an inspired match. Chermak Construction found its footing and began to grow.
Then, Miller died in 1995. Judy Rice remained working for Chermak Construction and became close friends with Howard Chermak. In 1996, they took the company out to lunch to announce their intentions to start dating.
“All the women in the unit said, ‘We knew it … ,’” Howard Chermak said. “All the men went, ‘Huh? You and Judy?’”
The couple were married a year later.
One of the ways the company went against the grain was on staffing. Traditionally, most construction firms have separate sales and production staffs, figuring each side needs its own expertise.
Chermak Construction has its project developers oversee contracts from the sale to the completion, with the idea that continuity would make the best project and best experience for the client.
The disadvantage is it’s difficult to find people who are good at construction and sales. The former is a must, Chermak said. So they look for people with construction experience who can be trained in sales.
Another key to the business has been its location on Edmonds Way just before going down into downtown. It was a 1,400-square-foot doctor’s office. He and his team expanded it to 4,000 square feet.
“It’s a nice connection to the town,” Chermak said. “It’s very visible with a lot of traffic because the road here goes to the ferry dock and downtown Edmonds. It’s a beautiful place to be.”
Howard Chermak points to the human side of the business that Judy Chermak has helped nurture and grow. She was the one who made sure birthdays sre observed, birth of children are acknowledged and Christmas parties are celebrated at the Edmonds Yacht Club with bonuses.
Tension will always be present in a construction company, but it’s dealt with in the open and people move on at Chermak, they said.
“Everybody is there to lift one another up,” Judy Chermak said. “No one is there to compete with one another, I think that’s the harmony that makes Chermak what it is.”
That’s helped the company navigate through difficult times. In 2007, the company did $9 million in business, but that fell in half in just a few years after. They cut subcontractors, but the company didn’t lay off anyone.
“We went to people and said we either need each of you to take a 10-percent cut in pay or we’re going to have to let somebody go,” Howard Chermak said. “They chose to a person to take a 10-percent cut in pay. That’s the thing that Judy brings. We took it, too. I took quite a bit more than that. I took a 50-percent cut in pay, but I made a lot of money and that was fair. ”
In their meetings with a counselor, they have been talking about transitioning out of the company. Howard Chermak’s daughter, Dana, works for the business and will remain. He said she saw how hard it was to meet payroll and didn’t want to become an owner.
While they’re leaving, they hope they’ve left a path forward for the company.
“I brought the construction knowledge and (Judy) brought the heart and caring and collaboration into a rough-and-tumble construction company,” Howard Chemak said. “She taught me it’s OK to care. It’s OK to help someone do something that may cost you a little bit, but in giving you’ll receive more.”
https://www.heraldnet.com/business/why-going-against-grain-helped-edmonds-chermak-construction-grow/
Punjab government plans mobile app
to curb stubble burning
Sources said the app will be on the lines of
Ola cab app, using which farmers can get information on availability, use of
such machinery across state
Written
by Anju Agnihotri Chaba |
Jalandhar | Published:September 6, 2017 1:54 am
Ahead
of paddy harvesting in state, the Punjab government, which has been under fire
from the National Green Tribunal (NGT) for some time, has asked the state’s
agriculture department to introduce a mobile app to provide farmers information
about the availability and use of machinery meant for “stubble management” so
that they do not set fields on fire. The paddy harvesting would start by the
end of this month.
Sources
said the mobile app will be on the lines of Ola cab app, using which farmers
can get information on availability and use of such machinery across the state.
It is also learnt that “machinery banks” would be developed in the state to
discourage stubble burning. Despite filing cases and imposing fines on farmers
for burning “crop residue”, the state government has little success in its
efforts to stop stubble burning and curb pollution.
In
Punjab, rice is cultivated on around 29-30 lakh hectares, of which 25 lakh
hectares go under paddy (Parmal rice) and remaining under ‘Basmati’. Basmati
rice stubble is used for making ‘fodder’, but in case of paddy, farmers burn it
in the fields to prepare it for the next crop. Following NGT order against
stubble burning, the Punjab government is faced with a huge challenge to manage
around 197 lakh metric tonnes of paddy stubble, out of which 70 to 75% is burnt
in the fields only.
State’s
director (agriculture) Dr Jasbir Singh Bains said the government had directed
the district administration to implement a three-year “updated action plan” to
stop crop residue burning by farmers and directed the agriculture department to
come up with a mobile app, which would be launched for providing information to
farmers on “available machinery through cooperative societies, farm machinery
banks and individual owners having invested money on equipment”.
During
the wheat harvesting season in April-May this year, Punjab detected 788 field
fires through satellite images in just one month and more through
district-level committees. As many as 226 errant farmers faced fines totalling
Rs 8 lakh and several were booked too. Most cases were reported from Mansa,
Barnala and Firozpur districts. These districts would be under scanner, said
officials
http://indianexpress.com/article/india/punjab-government-plans-mobile-app-to-curb-stubble-burning-4830567/
Sri Lankan Energy Sector NAMA Receives GEF Support, Uganda
Develops NAMA on Climate-Smart Dairy Value Chains
5 September 2017
Peter Luethi, Biovision Foundation
STORY
HIGHLIGHTS
An energy NAMA submitted by Sri Lanka in
July 2017 secured support from the GEF, with a total of US$1.8 million going
towards developing a “robust, transparent and functional NAMA framework
targeting energy generation and end use sectors”.
The UNDP announced a NAMA on climate-smart
dairy livestock value chains in Uganda, developed with the country’s Ministry
of Agriculture, Animal Industry and Fisheries.
A stakeholder workshop organized in Hanoi by
the CCAFS and the International Rice Research Institute, in collaboration with
two local institutions, focused on NAMA formulation in the rice sector in
support of the implementation of Viet Nam’s NDC.
4 September 2017: This Update
focuses on individual nationally appropriate mitigation actions (NAMAs) by
developing countries and related support, events and activities for the month
of August 2017. During this period, Sri Lanka secured US$1.8 million in
multilateral support for a NAMA targeting energy sector emissions. Also, the UN
Development Programme (UNDP) and Uganda released a NAMA for climate-smart dairy
value chains, and the NAMA Facility explored ways to cooperate with the Green
Climate Fund (GCF) on finance.
NAMAs, first introduced in the
UNFCCC Cancun Agreements, are actions that reduce greenhouse gas (GHG)
emissions relative to business-as-usual (BAU) emissions in 2020 in developing
countries. They are prepared under the umbrella of a governmental initiative
aligned with the country’s national development goals, and are supported by
finance, technology and capacity building.
NAMAs are becoming an
increasingly important vehicle supporting implementation of the Paris
Agreement, with significant co-benefits for the 2030 Agenda for Sustainable
Development due to their alignment with national development strategies.
Increasing attention is also being paid to bridging the existing gap between support
requested by developing countries and that received. The NAMA-related
activities reported in this Update contribute to the implementation of the 2030
Agenda’s Sustainable Development Goals (SDGs), particularly SDG 13 (climate
action) and SDG 7 (affordable and clean energy), among others.
NAMA Update: Sri Lanka Receives
GEF Support for Energy Framework NAMA
During the month of August, no
new NAMAs seeking support or new sources of NAMA support were submitted to the
UNFCCC Registry. However, an energy NAMA submitted by Sri Lanka in July 2017
secured support from the Global Environment Facility (GEF). A total of US$1.8
million, provided under GEF Cycle 5, will go towards developing a “robust,
transparent and functional NAMA framework targeting energy generation and end
use sectors.” The framework will comprise a measurement, reporting and
verification (MRV) system for quantifying GHG emissions and benefits of
mitigation interventions in the energy sector, and will include a host of
supporting institutions, including a secretariat and an MRV committee. The
framework will be tested through pilot projects, which will include 1,000
bio-digesters, 1,300 high-efficiency motors in tea factories and 205 solar
photovoltaic (PV) net metering systems. [UNFCCC NAMA Registry] [UNFCCC Registry Entry on Sri Lanka] [SDG Knowledge Hub July 2017 NAMA Update] [Mitigation and Transparency Exchange Story]
Uganda and UNDP Develop NAMA on
Climate-Smart Dairy Value Chains
The UNDP announced a NAMA on
climate-smart dairy livestock value chains in Uganda, developed with the
country’s Ministry of Agriculture, Animal Industry and Fisheries. The NAMA,
which is estimated to require US$530,000 in policy and regulatory support, will
include interventions related to policy development, access to finance and
technical assistance. Technical assistance will consist of “train-the-trainers”
activities aimed at local farmers’ organizations and cooperatives. Measures
under the NAMA will target emissions from enteric fermentation and animal
manure management with the ultimate aim of making the Ugandan dairy sector more
low-carbon and climate-resilient. [UNDP Press Release]
Viet Nam Explores Mitigation
Actions in Rice Production
Following the development of a
rice NAMA in Thailand, expert organizations have been exploring mitigation
potential in this sector in Viet Nam. Currently, Viet Nam has the highest GHG
emissions from rice production in Southeast Asia. A stakeholder workshop
organized in Hanoi by the CGIAR Research Program on Climate Change, Agriculture
and Food Security (CCAFS) and the International Rice Research Institute (IRRI),
in collaboration with two local institutions, focused on NAMA formulation in
the rice sector in support of the implementation of Viet Nam’s nationally
determined contribution (NDC). The workshop explored mitigation potential,
policy gaps, constraints to planning and implementation, and steps required
from the government, among other issues. [CCAFS Story] [SDG Knowledge Hub July 2017 NAMA Update]
GCF, NAMA Facility Discuss
Collaboration
Members of the secretariats of
the UK-German NAMA Facility and the GCF held a workshop in Songdo, Republic of
Korea, to explore opportunities for cooperation in areas, including project
preparation, pipeline development, and monitoring and evaluation. The meeting
agreed on future cooperation around both ad hoc exchanges on
specific projects and a regularly occurring strategic dialogue. [NAMA Facility Press Release on GCF]
The NAMA Facility also reported
that 2,433 Costa Rican coffee producers were trained on “good agricultural
practices” over a total of eight workshops offered in June and July 2017, which
included training modules offered by the NAMA Facility-supported ‘NAMA Café.’
Sectoral Initiatives Explore
Mitigation Potential
On transport, the German Ministry
for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB)
reported on results achieved through its Transfer of Climate-Friendly Transport
Technologies and Measures (TRANSfer) initiative, which has been running since 2010.
Activities implemented under the initiative have included public transport
vehicle substitution in the Philippines, a new cycling infrastructure in
Colombia and an investment promotion programme for sustainable urban transport
in Peru. [BMUB Project Update]
http://sdg.iisd.org/news/sri-lankan-energy-sector-nama-receives-gef-support-uganda-develops-nama-on-climate-smart-dairy-value-chains/
I’ve never looked
better’: Top male model got a six-pack by eating ‘six to seven cups of rice a
day’
September 6, 2017
8:31am
6 expert weight
loss tips
FOR nearly two decades, New Jersey-based dad
Brad Kroenig has been one of America’s top male models, walking on runways for
designers like Chanel and Versace while fronting fashion campaigns for brands
such as Fendi, Hermès and Tommy Hilfiger.
The
38-year-old also has the quasi-Zoolander lifestyle to match. He and
his wife, Nicole, and sons Hudson, 9, and Jameson, 5, have just returned from a
three-week vacation with family friend Karl Lagerfeld at his villa in Saint-Tropez.
“Karl
shot me for a V Man spread years ago in Biarritz,” Kroenig says. “And now he’s
both of my kids’ godfather.”
Yet even
Kroenig — who, at 6 feet 1, clocked in at 180 pounds at his heaviest — felt
there was room for improvement. He started feeling moody, sluggish and
exhausted by his coffee-and-cardio-fuelled regimen, the New York Post reports.
“I
started to see that I was not in my usual great shape,” he says.
RADICAL DIET
And so,
in June 2016, he embarked upon a diet that was radical, at least for members of
the fashion tribe. No, his weight-loss plan didn’t involve periodic fasting or
extreme juicing. Rather, Kroenig started eating carbs — cups and cups of them
each day.
Now,
more than a year in, his tummy is flatter, his face fresher and he’s lost an
impressive 20 pounds while maintaining lean muscle mass.
“I’m
almost 40,” he says proudly, “and in the best physical and mental shape of my
life,” he told nypost.com.
Kroenig
concedes that most folks find consuming starch and losing fat a contradiction
in terms. In fact, he used to be one of them.
“I spent
most of my modelling career avoiding carbs, doing CrossFit and relying on
energy pills to keep me going,” he says.
“The
program initially sounded too good to be true. I thought I would begin and
immediately balloon up to 300 pounds.”
HOW HE DID IT
Kroenig’s
new pro-carb eating plan was devised by Nate Miyaki, a San Francisco-based
author, certified personal trainer and sports nutritionist, whose latest book
is “The 6-Pack Checklist.”
Miyaki
takes what he describes as an “informed and efficient approach” to diet and
exercise. The focus, he says, is on “strength training and targeted
micronutrient intakes” that finely calibrate total protein, carb and fat
consumption.
To
promote initial fat loss, Miyaki calculated Kroenig’s daily calorie intake by
multiplying his target body weight number by 10 to 15 calories for a total of
1,500 calories a day. Carbs were slashed and protein boosted to maintain
Kroenig’s lean muscle mass.
Six
weeks after Kroenig started the diet, he upped his daily carb intake by 50
grams every three weeks to his current daily intake of 325 grams.
“As
Brad’s lean-muscle-to-body-fat ratio, insulin sensitivity and conditioning
improved, and the volume and intensity of his training program increased,” says
Miyaki, “we were actually able to increase his carbohydrate intake by quite a
bit.”
Kroenig’s
current maintenance diet allows him 2,400 calories a day: precisely measured
portions of grains, simply grilled meats and steamed vegetables for lunch and
dinner — along with three hard-boiled eggs for breakfast, plus some black
coffee and the occasional piece of fruit thrown in.
Sometimes
he’ll swap the usual basmati rice for sweet potatoes, but he almost never
cheats. “Maybe some pizza or cake for my kid’s birthday,” he says, “but,
really, that’s all.”
All
told, Kroenig eats six to seven cups of rice a day spread mainly between lunch
and dinner. “This is what keeps me full,” says Kroenig.
The key,
he says, is opting for quality carbs, such as basmati rice and sweet potatoes,
over the refined carbs typically found in snacks or diet foods.
WORKING OUT
For
exercise, Miyaki worked with Kroenig to devise a strength-based plan that
replaces endless cardio with thrice-weekly workouts. Each routine is 38 minutes
long and easily replicated either at home (with weights) or with resistance
bands when travelling.
“No one
believes I work out for less than two hours each week to stay this ripped,” he
says.
He
supplements that by regularly walking or hiking with his boys, who’ve adopted
the basic tenets of Kroenig’s eating plan — with more kid-friendly items such
as fruit. (He says once a week they’re allowed “cheat days,” which can include
“pizza, ice cream or dessert from a trendy new restaurant.”)
Miyaki
describes his overall method as both “practical and sustainable” — though not
without its challenges. “You have to put in some [initial] work breaking bad
habits,” he says. “But if you approach it correctly from the beginning, it’s
easier than most physique transformations.”
Meanwhile,
Kroenig says he’s no longer obsessing over every calorie or sit-up. He’s also
found a new sense of confidence and vigour as well as an increase in blue-chip
fashion work, including a pair of prestigious September-issue campaigns for
Polo Ralph Lauren and Chanel.
“I feel
like a rebel eating so many carbs,” says Kroenig. “It’s like I was brainwashed
for 15 years by the fitness world [about] how bad carbs are.”
Still,
he admits it can be hard to stick to his program day after day, meal after
meal. But the pay-off of a hot bod and clear mind is well worth the effort.
“Karl
said I’ve never looked better,” he says, “and this is really the biggest
compliment of all.”
BRAD’S DAILY DIET
BREAKFAST: 3
hard-boiled eggs, ½ cup of rice, black coffee
LUNCH: About
230g of lean protein, 1 cup of steamed basmati rice and unlimited steamed
vegetables
DINNER: About
230g ounces of lean protein, 5 cups of steamed basmati rice and unlimited
steamed vegetables
http://www.geelongadvertiser.com.au/lifestyle/health/ive-never-looked-better-top-male-model-got-a-sixpack-by-eating-six-to-seven-cups-of-rice-a-day/news-story/1879ad18f9e63d6ae2d6958e85b37143
Basmati
millers in Punjab rue hike in mandi fee, RDF
Sep 06, 2017, 05.57 PM IST
The millers are worried that the trade would
hugely tilt in favour of mills set up under mega project category that are
completely exempted from mandi tax and market fee for first ten-years of operations.
Basmati millers in Punjab
are seeking rollback of increase in Market Development Fee and Rural Development Fund (RDF)
that is set to increase cost by 8-10 per cent compared to other mills set up
under the mega project category. The millers rue that the additional cost
burden will also dent their cost competitiveness in domestic as well as
international trade compared to counterparts in Haryana, Rajasthan,
Jammu & Kashmir and Western Uttar Pradesh. "It
will affect domestic as well as international business of millers based in
Punjab," president Punjab Basmati Rice Millers Association, Balkrishan Garg said.
Garg said that the basmati trade is already margin stressed due to lower price
realisation in export market and the additional cost will dent export prospects
of basmati grown in Punjab.
The Punjab cabinet, in the last week, announced to increase market fee and RDF by one per cent each. The market fee and RDF stood at 2 per cent each in the past. The millers are worried that the trade would hugely tilt in favour of mills set up under mega project category that are completely exempted from mandi tax and market fee for first ten-years of operations. Garg said that the lower mandi fee in other basmati growing states like 1.6 per cent in Rajasthan, 2.4 per cent in Uttar Pradesh, 0.2 per cent in Madhya Pradesh is set to affect the rice processing industry in Punjab. He said that the association has written to chief minister Amarinder Singh raising the plight of local industry.
"The disparity in RDF and mandi fee defeats the purpose of One Nation One Tax under Goods and Sales Tax," says Vijay Sethia, former president of All India Rice Exporters Association.
Ranjam Kamra, a basmati trader, lamented that many rice mills will be shut due to the additional costs and disparity in levy. "The cost difference will be more than Rs 275 per quintal enough to push millers out of business," Kamra said.
The Punjab cabinet, in the last week, announced to increase market fee and RDF by one per cent each. The market fee and RDF stood at 2 per cent each in the past. The millers are worried that the trade would hugely tilt in favour of mills set up under mega project category that are completely exempted from mandi tax and market fee for first ten-years of operations. Garg said that the lower mandi fee in other basmati growing states like 1.6 per cent in Rajasthan, 2.4 per cent in Uttar Pradesh, 0.2 per cent in Madhya Pradesh is set to affect the rice processing industry in Punjab. He said that the association has written to chief minister Amarinder Singh raising the plight of local industry.
"The disparity in RDF and mandi fee defeats the purpose of One Nation One Tax under Goods and Sales Tax," says Vijay Sethia, former president of All India Rice Exporters Association.
Ranjam Kamra, a basmati trader, lamented that many rice mills will be shut due to the additional costs and disparity in levy. "The cost difference will be more than Rs 275 per quintal enough to push millers out of business," Kamra said.
This top male model stays fit
eating six cups of rice a day
For nearly two decades, New Jersey-based dad Brad
Kroenig has been one of America’s top male models, walking on
runways for designers like Chanel and Versace while fronting fashion campaigns
for brands such as Fendi, Hermès and Tommy Hilfiger.The 38-year-old also has
the quasi-Zoolander lifestyle to match. He and his wife, Nicole, and sons
Hudson, 9, and Jameson, 5, have just returned from a three-week vacation with
family friend Karl Lagerfeld at his villa in Saint-Tropez.
“Karl shot me for a V Man spread
years ago in Biarritz,” Kroenig says. “And now he’s both of my kids’
godfather.”Yet even Kroenig — who, at 6 feet 1, clocked in at 180 pounds at his
heaviest — felt there was room for improvement. He started feeling moody,
sluggish and exhausted by his coffee-and-cardio-fueled regimen.“I started to
see that I was not in my usual great shape,” he says.
And so, in June 2016, he embarked
upon a diet that was radical, at least for members of the fashion tribe. No,
his weight-loss plan didn’t involve periodic fasting or extreme juicing.
Rather, Kroenig started eating carbs — cups and cups of them each day.
Now, more than a year in, his
tummy is flatter, his face fresher and he’s lost an impressive 20 pounds while
maintaining lean muscle mass.“I’m almost 40,” he says proudly, “and in the best
physical and mental shape of my life.”Kroenig concedes that most folks find
consuming starch and losing fat a contradiction in terms. In fact, he used to
be one of them.
Modal
TriggerBrian Zak/NY Post
“I spent most of my modeling
career avoiding carbs, doing CrossFit and relying on energy pills to keep me
going,” he says.“The program initially sounded too good to be true. I thought I
would begin and immediately balloon up to 300 pounds.”Kroenig’s new pro-carb
eating plan was devised by Nate Miyaki, a San Francisco-based author, certified
personal trainer and sports nutritionist, whose latest book is “The 6-Pack
Checklist.”Miyaki takes what he describes as an “informed and efficient
approach” to diet and exercise. The focus, he says, is on “strength training
and targeted micronutrient intakes” that finely calibrate total protein, carb
and fat consumption.
To promote initial fat loss,
Miyaki calculated Kroenig’s daily calorie intake by multiplying his target body
weight number by 10 to 15 calories for a total of 1,500 calories a day. Carbs
were slashed and protein boosted to maintain Kroenig’s lean muscle mass.
Six weeks after Kroenig started
the diet, he upped his daily carb intake by 50 grams every three weeks to his
current daily intake of 325 grams.“As Brad’s lean-muscle-to-body-fat ratio,
insulin sensitivity and conditioning improved, and the volume and intensity of
his training program increased,” says Miyaki, “we were actually able to
increase his carbohydrate intake by quite a bit.”
Modal TriggerKroenig with Karl
LagerfeldGetty Images
Modal TriggerKroenig with Karl
LagerfeldGetty Images
Kroenig’s current maintenance
diet allows him 2,400 calories a day: precisely measured portions of grains,
simply grilled meats and steamed vegetables for lunch and dinner — along with
three hard-boiled eggs for breakfast, plus some black coffee and the occasional
piece of fruit thrown in.Sometimes he’ll swap the usual basmati rice for sweet
potatoes, but he almost never cheats. “Maybe some pizza or cake for my kid’s
birthday,” he says, “but, really, that’s all.”
All told, Kroenig eats six to seven
cups of rice a day spread mainly between lunch and dinner. “This is what keeps
me full,” says Kroenig.
The key, he says, is opting for
quality carbs, such as basmati rice and sweet potatoes, over the refined carbs
typically found in snacks or diet foods.
For exercise, Miyaki worked with
Kroenig to devise a strength-based plan that replaces endless cardio with
thrice-weekly workouts. Each routine is 38 minutes long and easily replicated
either at home (with weights) or with resistance bands when traveling.“No one
believes I work out for less than two hours each week to stay this ripped,” he
says.
He supplements that by regularly
walking or hiking with his boys, who’ve adopted the basic tenets of Kroenig’s
eating plan — with more kid-friendly items such as fruit. (He says once a week
they’re allowed “cheat days,” which can include “pizza, ice cream or dessert
from a trendy new restaurant.”)
‘No one believes I work out for less than two hours each week to
stay this ripped.’
Miyaki describes his overall method
as both “practical and sustainable” — though not without its challenges. “You
have to put in some [initial] work breaking bad habits,” he says. “But if you
approach it correctly from the beginning, it’s easier than most physique
transformations.”
Meanwhile, Kroenig says he’s no
longer obsessing over every calorie or situp. He’s also found a new sense of
confidence and vigor as well as an increase in blue-chip fashion work,
including a pair of prestigious September-issue campaigns for Polo Ralph Lauren
and Chanel.“I feel like a rebel eating so many carbs,” says Kroenig. “It’s like
I was brainwashed for 15 years by the fitness world [about] how bad carbs are.”Still,
he admits it can be hard to stick to his program day after day, meal after
meal. But the payoff of a hot bod and clear mind is well worth the effort.
“Karl said I’ve never looked
better,” he says, “and this is really the biggest compliment of all.”
BRAD’S DAILY DIET
Breakfast: 3 hard-boiled eggs, ½ cup of rice, black coffee
Lunch: 8 ounces of lean protein, 1 cup of steamed basmati rice and unlimited steamed vegetables
Dinner: 8 ounces of lean protein, 5 cups of steamed basmati rice and unlimited steamed vegetables
Lunch: 8 ounces of lean protein, 1 cup of steamed basmati rice and unlimited steamed vegetables
Dinner: 8 ounces of lean protein, 5 cups of steamed basmati rice and unlimited steamed vegetables
http://nypost.com/2017/09/05/this-top-male-model-stays-fit-eating-six-cups-of-rice-a-day/
This is a busy time of year for
Arkansas rice farmers like Jennifer James, a fourth-generation rice farmer from
Newport. Across the Rice Belt, farmers are driving combines through their
fields harvesting this year’s crop, and trucks are hauling the crop to the
mill. This is a fitting time to celebrate the rice industry as we recognize
September as National Rice Month. As the nation’s leading rice producing state,
Arkansas rice farmers have a unique perspective on the rules, regulations and
trade deals involving this commodity.
At a recent hearing held by the
Senate Committee on Agriculture, Nutrition, and Forestry, James shared her
experiences as a rice farmer to guide my colleagues and me as we prepare to
write the next Farm Bill. She testified about the economic impact of the industry
and the merits of increasing markets for rice.
Last year’s rice crop directly
generated $5.6 billion. On top of this, $34 billion in total value added to the
U.S. economy was generated from rice production, milling and selected end
users. The industry provides jobs to more than 128,000 people across the
country including 25,000 in Arkansas alone.
Nearly half of the rice produced
in the U.S. is exported to more than 120 countries including the top markets of
Mexico, Haiti, Japan, Central America and the Middle East. We are hopeful that
soon our rice producers will finally have access to one of the world’s largest
markets, China.
This summer, the U.S. Department
of Agriculture (USDA) completed negotiations with Chinese officials on a
protocol permitting the import of U.S. milled rice into China for the first
time in history. This is great news for Arkansas rice producers and our state’s
economy. As the world’s largest consumer of rice, the Chinese market holds
great potential for our rice farmers. James told the Senate committee that she
looks “forward to hopefully exporting rice to China.”
It’s expected that Chinese
inspectors will come to the U.S. within the next few weeks to examine the rice
mills to ensure they meet the country’s sanitation requirements. Considering
that American rice farmers grow a high quality, safe product, these visits
should result in good news.
There are other markets where
challenges remain. In her testimony, James offered the example of access to the
Cuban market. One barrier facing Arkansas famers when trying to export to Cuba
is that lenders are prohibited from providing lines of credit to export goods
to the country. I’m working to eliminate this hurdle.
Together with Sen. Heidi Heitkamp
(D-ND), I introduced legislation to increase the export of American
agricultural commodities to Cuba. The Agriculture Export Expansion Act would
lift the ban on private banks and companies offering credit for agricultural
exports to Cuba. This is commonsense reform that ensures Arkansas farmers and
agriculture producers across the country can compete fairly for the Cuban
marketplace.
Rice is a staple of the Cuban
diet, so for rice farmers like James, this increase in demand would be good for
business.
Given the significant downturn
the farm economy is grappling with, the next Farm Bill will be very important
for producers and rural communities that rely on agriculture. As Congress
writes this legislation and considers changes to agriculture policies, I am committed
to being a strong voice for Arkansas rice farmers and all of our state’s
producers
http://www.boonevilledemocrat.com/opinion/20170901/celebrating-arkansas-rice
USA Outlook Conference San Antonio,TX
Date:December 10-12 December,2017
Join us for the annual USA Rice
Outlook Conference in San Antonio, Texas. The USA Rice Outlook Conference
is where the U.S. rice industry meets, bringing together rice farmers, millers,
merchants, and representatives of allied businesses from all rice-producing
states and beyond for information and interaction. The conference also
features a trade show devoted to rice-related farm equipment, technology, products,
and services.
Ghana’s rice production to
match demand; cause reduction in exportation
06.09.2017
Rice production in Ghana has the
potential to meet local and international demand in the next few years.That’s a
projection by Senior Research Scientist and rice breeder at the Crops Research
Institute, Dr. Maxwell Asante.His comment follows the release of six lowland
rice varieties developed by the research organization in Kumasi.Rice is the
second most important cereal and major staple in Ghana, besides maize.Figures
from the Ministry of Food and Agriculture show current annual per capita
consumption of about 40kg per person is expected to hit 63 kg by next year.
Rice New
Unfortunately, the rice industry is characterized by low production, low average yield and poor grain quality, resulting in heavy dependence on imports.The need to increase production to meet increasing consumer demand of the disease-resistant and preferred local variety is ever imperative.Crops Research Institute breeders have therefore set out to develop new high-yielding jasmine and conventional US long grain rice types in Ghana.For the first time, six new varieties, four of which were wholly developed in Ghana, have been out-doored.
Rice New
Experts say besides their pest and disease-tolerance as well as high-yielding features, the varieties are of high cooking and aromatic quality.Initial consumer acceptability test has already been carried out in the Ashanti Region and Afife in the Volta Region.All the varieties, cooked or otherwise, received approval from consumers in both locations.The National Varietal Release Committee has also accepted all six varieties for release onto the local market.Dr. Asante is hopeful the newly- released varieties would go help reduce Ghana’s dependence on foreign rice imports.
http://www.blackseagrain.net/novosti/ghana2019s-rice-production-to-match-demand-cause-reduction-in-exportation
Research firm
calls for FOFA-like broker reforms
07 Sep 2017
Mortgages are not simple
consumer credit products and broker commissions create a poor alignment between
broker and consumer interests, according to one independent financial consultancy.These
sentiments come from a Treasury submission sent by research firm Rice Warner on
the Australian Securities & Investments Commission’s (ASIC’s) review of
mortgage broker remuneration.
The submission, which was prepared by senior consultant Alun Stevens and peer reviewed by CEO Michael Rice, suggested that the duties and remuneration structure of mortgage brokers be brought into alignment with those of financial planners implemented after the Future of Financial Advice (FOFA) reforms.In the current process to determine how broker remuneration should work, Rice Warner recommended that “the principles and provisions established by the [FOFA] reforms in respect of remuneration, and especially conflicted remuneration, should be the industry benchmark”.
The firm proposed outlawing commissions, claiming they created “a poor alignment of interests”.
“Mortgage brokers would be able to charge an establishment fee which could be charged at the time of the transaction. Trail commissions make no sense for consumers,” Stevens wrote.
“We consider that trail commissions should not be paid when no service is being provided.”
The firm also recommended a ‘Best Interests’ duty for brokers and aggregators which was equivalent to that imposed on financial advisers.
“Financial advisers and mortgage brokers give advice that impacts on the long-term financial positions of their clients and they should have equal obligations to act in those clients’ best interests.”
“We believe that the lack of formal ‘Know Your Client’ obligations that properly recognise the long-term nature of mortgages is a deficiency that should be remedied. Mortgages are long-term financial commitments that impact on all other long term financial plans and need to be recognised as such.”
Consumer interests could best be served by reclassifying mortgages as financial products, Stevens wrote, as this would “immediately and definitively” resolve issues related to conflicts of interest around remuneration.
“It would also address the quality of advice, the qualifications of brokers, the oversight and disclosure regime, and the need to act in consumers’ best interests. It would also recognise mortgages for what they are, long-term financial instruments, and not simply consumer credit.
The submission, which was prepared by senior consultant Alun Stevens and peer reviewed by CEO Michael Rice, suggested that the duties and remuneration structure of mortgage brokers be brought into alignment with those of financial planners implemented after the Future of Financial Advice (FOFA) reforms.In the current process to determine how broker remuneration should work, Rice Warner recommended that “the principles and provisions established by the [FOFA] reforms in respect of remuneration, and especially conflicted remuneration, should be the industry benchmark”.
The firm proposed outlawing commissions, claiming they created “a poor alignment of interests”.
“Mortgage brokers would be able to charge an establishment fee which could be charged at the time of the transaction. Trail commissions make no sense for consumers,” Stevens wrote.
“We consider that trail commissions should not be paid when no service is being provided.”
The firm also recommended a ‘Best Interests’ duty for brokers and aggregators which was equivalent to that imposed on financial advisers.
“Financial advisers and mortgage brokers give advice that impacts on the long-term financial positions of their clients and they should have equal obligations to act in those clients’ best interests.”
“We believe that the lack of formal ‘Know Your Client’ obligations that properly recognise the long-term nature of mortgages is a deficiency that should be remedied. Mortgages are long-term financial commitments that impact on all other long term financial plans and need to be recognised as such.”
Consumer interests could best be served by reclassifying mortgages as financial products, Stevens wrote, as this would “immediately and definitively” resolve issues related to conflicts of interest around remuneration.
“It would also address the quality of advice, the qualifications of brokers, the oversight and disclosure regime, and the need to act in consumers’ best interests. It would also recognise mortgages for what they are, long-term financial instruments, and not simply consumer credit.
http://www.brokernews.com.au/news/breaking-news/research-firm-calls-for-fofalike-broker-reforms-240919.aspx
Taiwan youth agricultural ambassadors to visit
Indonesia, Philippines
By Taiwan Today,
2017/09/06 18:29
https://www.taiwannews.com.tw/en/news/3247559
Half-cup rice ordinance approved
in Iloilo
Jennifer Garcia, ABS-CBN News
Farm machinery expo opens today in
Iloilo
Published
By Tara Yap
Iloilo City – The latest
agricultural machinery will be featured in a national exposition hosted by this
city.Remelyn Recoter, Department of Agriculture (DA) director for Western
Visayas, said 3,000 participants from all over the country will join the
“Makina Expo” on September 7-9.
Sen. Cynthia Villar, who was in
Iloilo City Tuesday for the Global Light of Peace event, said she is
joining Agriculture Secretary Manny Piñol and Swedish Ambassador Harald Fries
in opening the expo.
“This is a venue to update
farmers on the latest mechanization technologies in the Philippines and in
other countries,” Recoter said.
A technical conference will
discuss topics like irrigation technologies, water management in rice
cultivation, machinery’s insurance program of the Philippine Crop Insurance
Corp. financing program of Agricultural Credit Policy Council; and the
micro-finance program of the Land Bank of the Philippines.
Experts from the Philippine
Center for Postharvest Development and Mechanization (PHilMech) will present
developments in machines used for transplanting and hulling rice, onion
farming, and cassava digging
http://news.mb.com.ph/2017/09/06/farm-machinery-expo-opens-today-in-iloilo/
Quote of the
Day
"Not all of us can do great
things. But we can do small things with great love."
- Mother Teresa
- Mother Teresa
