03/12/2013 10: 39
This is the exchange rate between the Vietnamese Dong against USD is maintained from August to date.
Accounting rates between the Vietnamese Dong to euros is 1 Euro = 28,651 plunged 227 Dong/Euro compared with November.
With the pound: 1 GBP = 34,425, 698/GBP compared to November.
With Japanese Yen: the Yen plunged 205 = 1 9/JPY compared to November.
The French franc: 1 franc = 2,832, unchanged from November.
With the Chinese Yuan: 1 CNY = 3,453, unchanged from November.
The accounting rate is applied in the business: accounting and currency conversion, GOVERNMENT EXCESSIVE spending in foreign currency including original material revenues in foreign currency; Redeem accounting and bookkeeping of the State Treasury.
An Thoi International Seaport.— Photo phuquoctv
KIEN GIANG (VNS)— Authorities in Kien Giang Province are reluctant to take over Phu Quoc Island's An Thoi International Seaport even though the Viet Nam Maritime Administration is planning to hand it over.
The Mekong Delta province fears that it will not have the budget to maintain the port, which is seriously underused.
Pham Vu Hong, deputy chairman of the province's People's Committee, was quoted in Tuoi Tre (Youth) newspaper as saying that the seaport was bringing in very little revenue.
Under the government's zoning plan to develop Phu Quoc Island by 2030, the An Thoi Port, worth roughly VND158 billion, will have the capacity to handle 500,000 – 700,000 tonnes and 360,000 passengers every year.
According to Nguyen Dinh Viet, director of Kien Giang Port Authority, few international cargo or passenger vessels have arrived at the port, besides those that carried asphalt and barges used for the construction of Phu Quoc International Airport.
Viet said major construction projects were being built in the central and northern parts of the island, while the port is located in the southern area of the island.
Recently, the port received a barge and three foreign vessels to support the installation of the Ha Tien – Phu Quoc undersea power cable line.
The port's total revenue came from 39 turns of vessels, 19 turns of barges and three tug boats, or roughly VND583 million, Viet told the paper.
"Currently, the port has areas for 3,000DWT that is now accommodating only fishing boats and small cargo boats of local residents," he said.
The biggest hurdle for the port's effective operation is the inefficiency of an approach road that links the port with the North – South road on the island.
In order to reach the port, only vans can travel through a market.
Heavy trucks cannot access the port, according to Lam Minh Thanh, chairman of Phu Quoc District's People's Committee.
He said the An Thoi Port was placed in an inappropriate location near a military port and traditional fishing ports of local residents.
Without a well-built approach road, the port would not operate effectively, Thanh said.
It is estimated that at least VND1 trillion would be needed for land clearance compensation if the local government wants to build the road linking the island's North – South road to the port.
The local government said it could not afford to pay compensation to displaced residents.
Pham Vu Hong, deputy chairman of Kien Giang Province's People's Committee, suggested that the Viet Nam Maritime Administration complete infrastructure linking the port before handing it over to the local government.
Local authorities are discussing the matter before making a final decision.
Under the government's plan, Phu Quoc will be an administrative unit at the same level as a city directly under control of the central government, with 10 wards and communes.
Besides the An Thoi International Port, the government of Kien Giang is calling for investment in at least four other ports, including the 675-ha Nam Du deepwater port with VND16.8 trillion ($840 million) on Nam Du Islet, Bai Dat Do Port worth VND10.5 trillion, the VND1.1 trillion ($55 million) Hon Chong Port, and Bai No Port. — VNS
VietNamNet Bridge – Digital ads, including online ads and mobile ads, are a growing tendency in Vietnam and is believed to witness high growth in the time to come.
Nguyen Tien Dung from Maxus Vietnam, a subsidiary of GroupM, affirmed that advertisement on social networks has become the choice of a lot of enterprises and brands.
According to Dung, more than 30 million Vietnamese access to Internet every day, of whom, 86 percent access to social networks. 81 percent of the social network’s members have the habit of sharing their shopping activities with friends and relatives.
Facebook is the most popularly used social network in Vietnam which has attracted 14 million members, including the 11 million accessing to social networks with their mobile phones. It is estimated that every user spends 40 minutes every day on social networks.
The two actions that the Vietnamese Facebook users in Vietnam most commonly take is pressing “like” and pressing “comment,” according to Dung.
This is unlike the developed markets, where Facebook users more usually use their operation to “check in” and post photos.
The findings about the high number of social network members and their habits show the great potentials of the digital ad market and the high efficiency of this type of ad. However, speaking at the dialogue about digital ads on November 20 in HCM City, Dung said it is still not easy to take full advantage of the digital ad.
Also according to Dung, the majority of businesses reserve limited budget for digital ad, just about 5 percent of the total budget for marketing and ads.
Phan Quoc Cong, General Director of ICP JSC, a consumer goods manufacturer, said his company began planning ad campaigns on Internet some years ago already, when it realized that more and more people spent their time surfing on Internet.
ICP’s marketing budget, according to Cong, has been set up in the 70-20-10 structure. 70 percent of the budget is spent to run on traditional mass media, mostly television. The other 20 percent is spent to run ads on new channels which the company can see the reasonable efficiency, while the remaining 10 percent on the newly discovered channels which still cannot show the exact profits.
An ICP’s ad campaign on television costs one million dollars on average. Meanwhile, an ad campaign on Internet costs $100,000 only, or 1/10 of the budget for television ads.
These are the total sums of money spent on all phases of the ad campaigns, from creation, production and posting.
Le Ho My Duyen, a senior executive of ICP, said she thinks that it would be better not to separate the ads on social networks, but it should be integrated into other traditional ad channels, from TV, print newspapers to other brand promotion activities.
According eMarketer, a market survey firm, the Internet ads brought the turnover of $26 million in 2012, accounting for 2.9 percent of the market’s total turnover.
The firm has forecast that the Internet ad turnover in Vietnam would rise to $32 million in 2013 before it reaches $45 million by 2015.
In the first half of 2013, the total ad revenue on mass media in Vietnam, according to Kantar Media Vietnam, reached VND11 trillion, of which 92 percent was created by television ads.
- Updated : 11/20/2013 7:08:19 PM
(VOV) -International donors have pledged US$78.195 billion in official development assistance (ODA) for Vietnam over the next 20 years.
Of this figure, agreements worth US$58.463 billion have been signed, and US$37.597 billion have been disbursed.
Many ODA-funded projects have already been implemented, providing fresh impetus for socio-economic development and contributing greatly to poverty reduction.
In recent years, ODA has become a crucial tool for developing infrastructure, stimulating economic growth and improving living standards for local Vietnamese people.
At recent policy talks, regarding Japanese ODA loan for Vietnam, international donorspraised Vietnam’s ODAmanagement and disbursement, stating the money has been invested properly
Japangranted ODA loans to assistVietnam indevelopingimportant infrastructure projects such as roads, bridges, and ports, creating a firm foundation for economic growth in Vietnam.
However, despite the substantial funding received over the years, ODA disbursement has failed to achieve the necessary breakthrough required for socio-economic development.
20/11/2013 7: 43
Trade deficit decreased 6.8%
According to the General Department of customs, October is the month of IMPORT-EXPORT turnover grew, reaching record levels so far – in particular, XK reached 12.61 billion u.s. dollars, up 12.8 percent and imports is 12.51 billion dollars, an increase of 11% compared with September, 2013.
From the beginning of the year to the end of October 2013, the total EXPORT of the country reached 217.59 billion, up 15.9 percent over the same period; in particular, EXPORT totaled 108.72 billion, an increase of 16% and imports of 15.9 billion dollars, up 108.87 is%.
As a result, the trade deficit in October 2013 reduced 146 million US dollars, down 6.8 percent from the same period.
The above mentioned results, the significant contribution of the block of business for foreign direct investment (FDI FIRMS). the last 10 months, the IMPORT-EXPORT turnover of FDI FIRMS
128.65 billion dollars accounted for 59.1% of total IMPORT-EXPORT turnover of the country. In particular, EXPORT totaled 66.71 billion, an increase of 28.3% and imports increased 25.6 billion, 61.94 is% compared to the results of the same period a year ago.
Chart: total value of exports (XK), imported (NK) from May 1, 2011 to October 2013.
Many items for EXPORT reached a record
Led by the Group found the device types and components. In October, for the first time reached XK 2.42 billion dollars, an increase of 13.5% compared to the previous month. Thereby bringing the total EXPORT value of this row group in the 10 months up 17.94 billion u.s. dollars, up 78.3 percent over the same period.
The European Union (EU) is the largest import partner group found the device types and Semiconductor components derived from the Philippines to the value of 7 billion dollars, an increase of 58% and accounted for 39% of the total EXPORT value of this row group of the country.
The second is the group rows of computers, electronic products and components. In October 2013, EXPORTING goods reached a record so far reached 1.04 billion with increased 12.2% compared with the previous month. Thereby, bringing the total EXPORT value in October 2013 reach 8.74 billion, an increase of 43% compared to same period in 2012.
In the past 10 months, the EU officially overtakes China in a partnership is the largest importer of Vietnamese goods. Specifically, EXPORTING to the EU reached 1.94 billion u.s. dollars, up 73.7%; China reached 1.8 billion u.s. dollars, up 22.9 percent; The United States reached 1.16 billion u.s. dollars, up 63.2 percent.
Third, wood products and wood products. XK in October reached almost 600 million US dollars, an increase of 15.5% compared with the previous month, bringing the total EXPORT turnover in January 2013 to 4.38 billion dollars, an increase of 15.8% over the same period.
The fourth group is the textiles also reached. In October 2013 XK reached 1.75 billion dollars, an increase of 5.5% compared to the previous month, thereby raising the value of EXPORT goods in January 2013 up near 14.8 billion dollars, an increase of 18.5% over the same period.
In particular, EXPORTING goods to the u.s. market reached 7.17 billion dollars, an increase of 14.6%; to the EU reached 2.2 billion dollars, an increase of 10.5%; to Japan totaled 1.97 billion u.s. dollars, up 21.7 percent; to Korea reached 1.35 billion dollars, an increase of 49.2%.
Thursday is, EXPORTING footwear of all kinds. After falling deeply in the previous month, in August this item XK in October 2013, reaching high levels, 717 million US dollars, up 30.5 percent from September.
Thus, as of end October 2013, this row group EXPORT reached almost 7 billion dollars, an increase of 15.2 percent over the same period. In particular, the EU market and the United States is the major market groups import 2 found this.
Friday 's, seafood items. XK in October reached 771 million dollars, an increase of 20.3% compared to the previous month, bringing the total EXPORT turnover in the 10 months to 5.43 billion dollars, an increase of 7.2% over the same period.
Saturday is, items of cashews. In October 2013, the country is EXPORTING 25.1 thousand tons of cashew nuts to the value of 152 million US dollars, an increase of 7.3% in terms of volume and 5.4% in terms of value compared with the previous month. As of April 10, the volume of EXPORT items is more than 214 thousand tons, an increase of 16.7% and the value reached 1.35 billion dollars, an increase of 9.4% over the same period .../.
Stiffer penalties for lip-syncers, dishonest businesses and others
Performers who lip-sync or wear inappropriate clothes will now have to pay fines of VND5- 10 million (US$238-476), according to a new decree taking effect on January 1.— File Photo
(VNS) — Performers who lip-sync or wear inappropriate clothes will now have to pay fines of VND5- 10 million (US$238-476), according to a new decree taking effect on January 1.
On November 12, the Government issued Decree No 158/2013/ND-CP, which sanctions administrative violations in the field of culture, sport, travel and advertisement.
Under the decree, sending emails providing information about products and services without prior acceptance from receivers can result in a fine of VND10-15 million ($476-714).
Those advertising sensitive products between 6-8pm will be fined VND20-30 million ($952-1,428). Producing a film with slanderous content can result in a fine of VND10-20 million ($476-952).
Decree 155/2013/ND-CP ("Decree 155") providing sanctions on administrative violations in the field of planning and investment.
This decree concerns administrative violations in the field of planning and investment, specifically State funded investment, domestic investment, offshore investment, bidding management and business registration for enterprises.
Organisations with dishonest and inaccurate business information registration will be fined VND10 -15 million ($476-714). Organisations that fail to publish business registration content on the National Business Registration Portal in a timely fashion and organisations that do not contribute enough registered capital will be fined from VND1-2 million ($47-95) or VND10-30 million ($476-1,428), respectively.
In addition to the above fines, depending on the nature and seriousness of the violations, other remedial measures may also be imposed.
Decree 155 takes effect on January 1, replacing Decree No 53/2007/ND-CP and Decree No 62/2010/ND-CP. — BIZCONSULT
13/11/2013 14: 59
Competition weight overall
Session online "retail markets, opportunities and challenges" due to the Newspaper industry and Trade Organization November 13, drew the attention of the press, as well as representatives from authorities, associations such as: Service the domestic market (industry), the retail Association of the Philippinesbusinesses.
Mr. Tran Nguyen-Deputy domestic market that foreign distributors in Vietnam is relatively strong. They have economic potentials as well as longstanding experience. This is the opportunity, challenge for retailers.
Many suggested that the domestic retail FIRMS are losing the advantage. Photo: M. N.
According to him, by the end of 2012, the Vietnam market has about 700 supermarkets, trade centers, in particular, foreign retailers accounted for about 40 percent. "The force correlation between domestic and foreign FIRMS in the retail sector is relatively high," he said.
However, President of the retailers Association of the Philippines, Ms. Dinh Thi My Loan, back to that problem on not worrying, though she acknowledged the Loan in foreign retail FIRMS are overwhelming.
"The idea that foreign retailers strong that the market share of domestic FIRMS are downsizing, we did not agree. I assume that the market share of domestic FIRMS is expanding and there are many opportunities to grow. Therefore, should not be too pessimistic with the market lost to foreign retail FIRMS ", her Loan said.
' Only links not enough ... '
At the session, many comments admit that, Vietnamese retailers are losing their advantage. If each DN does not make rational trading strategy is probably going to lose at home. And one of the solutions being put forward is the REAL inner need to have strong links with each other.
Ms. Vu Thi Hau-Deputy General Director of Jsc best male (Fivimart supermarket) that not only refers to the issue of links between ENTERPRISES that own each DN should also build the strategy linked to the manufacturer. Because the links are beneficial for both parties.
"I assume that this linkage is critical, the vendor is the bridge bringing goods to the consumers, should in the process of distributing the goods we always have very tight linkages with the manufacturer," she Later said.
In this regard, Ms. Dinh Thi My Loan share: just link it is not enough, the Vietnamese retailers need to focus on building the market, not only in urban areas, which should build both the retail system in the rural areas, since the retail system in this area remains weak and inadequate.
"The movement of free delivery to the countryside, the ENTERPRISE should have a longer strategy, sustainability, restore the retail system in the rural areas, like purchasing cooperatives to have stable selling point", her Loan said./.
Staff at the Ha Noi Stock Exchange. Blue chips dragged the HNX30 more than 1 per cent lower to 120.12 points. — VNA/VNS Photo Tuan Anh
HA NOI (VNS)— Shares reversed Monday's gains to tumble on both stock exchanges yesterday as investors sold off penny and mid-cap stocks.
On the HCM City Stock Exchange, the VN-Index slid 0.68 per cent to 497.65 points. Losers overwhelmed gainers by 128-87.
The value of trades jumped by roughly 47 per cent over Monday's session to VND1.47 trillion (US$69.3 million). Trading volume also surged to nearly 122 million shares.
Profit-taking occurred to a series of small stocks. FLC Investment Group (FLC) hit its ceiling price in the morning session but finally closed at 1.9 per cent.
Other construction and real estate stocks, including Tan Tao (ITA), An Duong Thao Dien (HAR), Hoang Quan (HQC) and Licogi 16 (LCG), saw high trading volume between 4-8 million shares. However, many of these codes ultimately retreated.
Two-thirds of the 30 leading shares in terms of capitalisation and liquidity tracked by the VN30 ended in the red.
Notably, financial conglomerate Ocean Group (OGC), PetroVietnam Drilling Services (PVD), Becamex Infrastructure (IJC) and logistics company Gemadept (GMD) each lost 2-5 per cent.
The VN30 dropped almost 0.8 per cent, reaching 555.11 points.
On the Ha Noi Stock Exchange, the HNX-Index declined 0.3 per cent to 63.85 points. Blue chips dragged the HNX30 more than 1 per cent lower to 120.12 points.
Massive sales drove market value up 32.3 per cent to VND456.5 billion ($21.5 million) on a volume of 66.1 million shares.
Although foreign investors were net buyers in Ha Noi by over VND7 billion ($330,100), they could not offset the net selling value of VND47.8 billion ($2.2 million) in HCM City.
Foreign investors mostly unloaded blue chips such as private equity group Masan (MSN) and property developers Vingroup (VIC), Hoang Anh Gia Lai (HAG) and ITA.
Economic information such as the small reduction in fuel prices did not affect the market.
"Investors' cash is hovering around different groups of stocks to seek liquidity," FPT Securities Co analysts wrote in a note.
"However, as the cash focused on small stocks rather than larger ones, it does not support substantial growth," they further said. — VNS
Last update 15:23 | 13/11/2013
VietNamNet Bridge – The People's Court of HCM City on Tuesday, Nov 11, proposed the death sentence for former banking chief executive Vu Quoc Hao, who has been charged with embezzling VND531 billion (US$25.3 million) worth of State property.
Former banking chief executive Vu Quoc Hao.— File Photo
Hao, 58, former director general of Agribank Financial Leasing Company No 2 (ALCII), has been accused of abusing his position by deliberately violating State regulations on economic management, causing serious consequences.
The company's deputy general director, Nguyen Van Tai, also faced 18-20 years in jail on similar charges.
Hao and 10 other defendants have been charged on the ground of misappropriating State property - and on using more than VND80 billion ($3.8 million) for personal gain.
As part of the alleged violations, said to have taken place from April 2008 to March 2009, Vu Quoc Hao and Nguyen Van Tai, 54, are alleged to have signed 10 contracts for financial leasing and asset purchasing and granted loans worth hundreds of billions of dong to a number of companies for asset investment.
Despite ALC II not being allowed to grant credit loans, it appears the companies spent the loan money on non-fixed assets. This will make retrieval of the money difficult, if not impossible.
These companies include; Quang Vinh Construction and Trade Co Ltd, Ham Rong JSC, Xuan Viet Trading and Service Co Ltd, and Dai Phu Gia company.
The court heard that Hao used his power and position to sign financial leasing contracts to withdraw VND75 billion ($3.5 million) for his personal use.
Prosecutors also proposed the death sentence for Dang Van Hai, 56, chairman of management board of of Quang Vinh Construction and Trade, for embezzling assets, trade fraud and deliberately violating State regulations on economic management, causing serious outcomes.
All defendants involved in the case have been asked to pay back VND386.9 billion to ACLII. Vu Quoc Hao was asked to repay VND83.85 billion.
ALCII is member of the State-run Viet Nam Bank for Agriculture and Rural Development located in District 5 in HCM City.
The trial is expected to run until November 20.
Fishermen need foreign help as Haiyan approaches
The ministry made the note after receiving information from the National Steering Committee for Flood and Storm Prevention and Control and the Committee for Search and Rescue about the super typhoon, which is crossing the East Sea.
Vietnamese Embassies in the foreign countries have also been directed to keep a close watch on the storm and work with local agencies to come up with measures supporting endangered Vietnamese fishermen.-VNA