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BUSINESS IN BRIEF 5/4   2010-04-05 - VNA, Thanh nien, Nhan dan

An Giang to tap Cambodian vegetable market


The Mekong Delta province of An Giang should better exploit its great potential to export vegetables to Cambodia , experts advise.


As Cambodia can meet only 60 percent of the vegetable demand for its residents, it is having to import vegetables from Vietnam and Thailand , they say.


Vegetable exports to Cambodia have surged from 5-7 tonnes per day in 2007 to 70-80 tonnes per day in 2010.


Lim Sokun, secretary of state for foreign affairs of Cambodia ’s Ministry of Agriculture, Forestry and Fisheries, said wholesale turnover between Vietnam ’s An Giang province and Cambodia ’s Kampot province had soared from 40 million USD in 2007 to 60 million USD in 2008.


In An Giang, vegetables at the Long Binh wholesale market, sourced from various other provinces, are mostly exported to the Cambodian capital of Phnom Penh.


Advanced hearing aid technology on market


The world’ leading cochlear implant technology is now available for Vietnamese people with severe to profound hearing loss, medical experts said at a seminar on April 3.


“Hearing impaired people in HCM City as well as the southern provinces can access the advanced technology, Cochlear’s Nucleus Freedom, at costs twice as low compared to getting the implants done abroad,” said Dr Pham Khanh Phong Lan, deputy director of the HCM City Department of Health.


The costs are expected to be even lower in the future so that the advanced technology will not be limited to people with high incomes, Lan said.


The Ear, Nose and Throat Hospital in HCM City has performed surgeries using the Australian – invented Cochlear Nucleus Implant system on nine patients since it was first applied in the hospital last year, said Dr Nguyen Thi Ngoc Dung, director of the hospital.


Over the last 30 years, some 140,000 patients around the world have benefited from the Cochlear Nucleus Implant system, which holds 70 percent of the global market for hearing implants.


Italian businesses highlight Vietnam’s potential


Businessmen at a recent workshop on promoting investment of Italian enterprises in Vietnam described the country a young, dynamic and full of development and investment opportunities.


Addressing the workshop, ended in Italian northern city of Vicenza on April 3, Roberto Ditri, Vice President of the city’s Industrialists’ Association called Vietnam one of the most dynamic markets in the world with annual growth rate of over 7 percent.


Despite the negative impacts of the global economic crisis, the country still reached a GDP growth of 5 percent in 2009, he said.


In his opinion, the young market with 56 percent of the population under 30 years old has strong development and high consumption ability.


Vietnam ’s joining to the ASEAN free trade area has helped improve the country’s economic role in the region to become a bridge of industrial production and trade with other Asian countries.


Participants all agreed that Vietnam is an ideal investment destination for Italian businesses, who are ranking 34 th among countries and territories investing in Vietnam .


Representatives of enterprises from Vicenza affirmed their interest in investment in Vietnam ’s industrial parks and wish to meet Vietnamese partners to seek business opportunities.


Two-way trade value between Vietnam and Italy exceeded 1 billion USD for the first time in 2007, however, the value decreased slightly last year due to the global economic crisis.


Panasonic denies rumors it will close Vietnam plants


Panasonic has rejected speculation that the Japanese electronics maker plans to move its factories in Vietnam to Indonesia, saying it is committed to a long-term investment in the country.


Last week, Bloomberg quoted the chairman of Indonesia’s investment coordinating board in Jakarta as saying that Panasonic Corp. might move its factories in Vietnam and Japan.


But Panasonic Vietnam spokeswoman Nguyen Thi Thanh Minh said there were no plans to relocate the Vietnam factories to Indonesia. Minh was speaking on behalf of Shinya Abe, general director of Panasonic Vietnam.


Minh told Thanh Nien Weekly that the giant manufacturer had begun operations in Vietnam in 1996 by establishing factories in Ho Chi Minh City and three others in Hanoi to produce television sets, refrigerators, and electronic components for domestic and export markets.


The corporation has a total registered capital of US$140 million in Vietnam and 7,000 employees in the factories here, according to Minh.


“Our significant investment shows a long term commitment to contributing to Vietnamese society, in terms of developing manufacturing, and developing human resources for the country,” she said.


Japanese electronics maker Sony shut down production in Vietnam in 2008, transforming its 100 percent wholly owned affiliate to a 100 percent trading unit in 2008.


he move came just before the government opened the retail market for foreign businesses in 2009.


Sony, which had employed 200 local employees, said the decision was aimed at enjoying the new policy that offered electronics businesses the opportunity to trade imported products directly in Vietnam rather than manufacturing them in the country.


 Japanese electronics manufacturer Toshiba announced in February it would close its consumer product unit in Vietnam, but the timing of the move has yet to be decided upon.


Central Power Corporation put into operation


The Central Power Corporation (CPC) has officially been put into operation.


The CPC was established on a basis of reorganising the Electricity Company No.3 and receiving the owner representative’s right to State capital in the Khanh Hoa Electricity Joint Stock Company and the Da Nang One Member Company Ltd.


With 34 company members and a staff of 10,500 officials and workers, the CPC mainly involves in power business and production, telecommunications and information technology services and the import and export of electricity.


In 2009, its commercial power output reached 5.343 billion of Kwh, providing electricity for over 1.6 million clients in the region.


Lao Cai Industrial Park established


The Lao Cai Industrial Park has been recently established, covering an area of 830 hectares.


The industrial park includes the Bac Duyen Hai, Dong Pho Moi and Tang Loong Industrial Complexes with VND 5 trillion in the total investment capital for infrastructure construction.


Particularly, the development plan by 2015 of the Tang Loong Industrial Park Complex has already approved by the Government.


There have been 81 enterprises operating in industrial complexes in the province so far, with a total registered capital of over VND 20 trillion.

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Foreign dairy producers keep prices high, but launch promotions   2010-04-05

Advanced hearing aid technology on market   2010-04-05

Foreign-invested kitchen to serve Vietnam laborers, students   2010-04-05

Foreign economic assistance may cost too much   2010-04-05

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