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Vietnam took the lead in the number of foreign arrivals to Cambodia in the first five months of the year with 122,000 tourists, accounting for 12.8%. According to the Cambodian Ministry of Tourism, countries that recorded surges in arrivals to Cambodia during the period also included the US with 69,000 people, up 1.4%; the UK with 50,000 people, up 15.8%; and France with 47,000 people, up 5.5%. Lao tourists to Cambodia sharply rose by 149% over the same period last year with 41,000 people thanks to Cambodia’s simplified customs procedures and the completion of a road linking the two countries. However, the number of tourists from Cambodia’s traditional markets, including China, Japan, the Republic of Korea, Thailand and Australia have not increased in recent years. By the end of May, Cambodia attracted nearly 950,000 foreign tourists, a 2.3% decrease compared to last year’s correspondent period.
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Vietnam’s textile and garment exports to Japan are forecast to grow by 20% year on year to between 900 million USD and 1 billion USD this year. The expected increase is based on the fact that Vietnamese textile and garment businesses officially enjoyed preferential export tax rate of zero percent as of July 1, 2009, said the Vietnam Textile and Apparel Association. According to the Vietnam-Japan Economic Partnership Agreement, the nation’s textile and garment exports to Japan using materials imported from Japan and other members of the Association of Southeast Asian Nations (ASEAN) will enjoy a tax rate of zero percent instead of earlier 5-10 percent.
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Bach Dang Construction Corporation on July 1 started work on the Hanoi-Nghe An beer plant in the central province of Nghe An. The factory has an investment capital of 500 billion VND (28.1 million USD), with 330 billion VND (18.5 million USD), being financed by the Bank for Investment and Development of Vietnam. The facility has an initial capacity of 50 million litres per year. This can be upgraded to 100 million litre per year. The plant is a subsidiary of Hanoi Beer, Alcohol and Beverage Corporation.
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The Ben Tre People’s Committee Wednesday called on businesses to invest in the Mekong Delta province, saying it offered great potential in multiple sectors. Provincial administration officials said the projects with potential included riverside residential and urban complexes, coastal ecotourism resorts, human resource development, education and healthcare. At a seminar in Ben Tre Town attended by representatives of nearly 200 businesses, Nguyen Thai Xay, chairman of the committee, said the province’s private investment inflow in the first half of the year reached nearly VND3.6 trillion (US$200 million), a year-on-year growth of 17.9 percent.
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The major investor in the Hanoi Highway in Ho Chi Minh City is to move the location of a major toll booth on the highway to District 9, about two kilometers from its present location in District 2. The investor, the HCMC Infrastructure Investment Joint Stock Company (CII), said it has lost money since the Saigon Port moved to Cat Lai Port in District 2 last year as many trucks have been entering Cat Lai Port without going past the toll booth. However, the HCMC Goods Transportation Association has protested as the investor will begin collecting fees in the new area while it has neither finished enlarging the highway in District 9 nor begun needed construction work on Rach Chiec Bridge, which links districts 2 and 9. The booth’s new location will ensure toll collection from these trucks as well. The move is to be made from September.
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The national aquatic product output in the first six months is 1,161,000 tons, an increase of 7.7% compared to the same period last year, according to the Ministry of Agriculture and Rural Development. The Tra catfish and tiger prawn raising area increased slightly due to the increase in prices of these aquatic products. The country’s aquatic product output from aquaculture is estimated at 203,000 tons which brings the total volume in six months to 1.1 million tons, up 7.2% against the same period in 2008.
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Around 3.4 million tons of rice worth US$1.4 billion have been exported as of late June, reported the Vietnam Food Association. Rice is the only agricultural product achieving the growth rate in both export volume and export turnover. Rice imported from Vietnam also has a higher growth rate compared to the same period last year. The Philippines has imported over 50% of Vietnam’s exported rice. Recently, the rice market is rather animated with an increase of US$5 to 10 per ton in the exported rice prices.
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Vietnam Maritime Stock Bank reported Friday a first-half pretax profit of VND112 billion ($6.4 million). The bank didn't provide a comparative figure. The bank's total assets were VND46 trillion at the end of June, up 143% from end-2008, it said in a statement. Earlier this year, the Hanoi-based bank said it will raise its registered capital to VND3 trillion later this year from VND2.24 trillion.
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The Vietnam Securities Depository Authority said Thursday it issued licenses to 142 new foreign institutional investors to trade local stocks in the first half of this year, raising the total number to 1,031 by end- June. During the period, 175 foreign individuals also received permission, increasing the total number to 12,005, the VSD said on its Web site. Vietnam's share index, or VNindex, has risen 37.4% so far this year, and the Ho Chi Minh Stock Exchange has total market capitalization of VND342.2 trillion ($ 20 billion) as of Thursday.
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Foreign investors were net buyers of VND125 billion ($7.1 million) of Vietnamese stocks Thursday out of a total VND1.4 trillion traded, the Ho Chi Minh Stock Exchange said. Volume traded totaled 40.1 million shares, with foreigners accounting for 13% of that volume, the stock market operator said. Foreign investors have been net buyers of VND828 billion of Vietnamese stocks in the last six straight trading sessions. In the month to date, they have been net buyers of VND346.4 billion of Vietnamese stocks.
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Vietnam plans to host a series of investment forums in the U.S. this year to attract more foreign investors. Prime Minister Nguyen Tan Dung recently approved the concept, with the first forum to be held in New York on September 21, coinciding with the United Nations General Assembly. Vietnamese government ministers and senior officials will address the forum, providing potential investors with the latest information on Vietnam’s economic growth, financial markets, key industries and future prospects. To be coordinated by the Ministry of Planning and Investment and the Foreign Affairs Ministry, the New York forum will be designed to give investors first-hand information about new regulatory and legal developments in Vietnam.
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Dyechem Alliance Vietnam Co. Ltd. has opened a new chemical plant with a total investment capital of $2.5 million in Long Hau industrial zone, Long An province, informed the General Director of the Company, Mr. Lim Chin Ming. The plant will focus on producing chemicals for Vietnam’s textile and leather industries. It has been built with the main purpose to provide replacement to the currently imported materials by producing key chemical products for the domestic market. By making the investment in Long Hau Industrial zone, Dyechem Alliance Vietnam Co. Ltd. has become the 22nd investor among 44 enterprises. The plant occupies a total area of 10,000 square meters.
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