Annual travel expo to move to new venue in HCM City

HCM CITY — The sixth edition of the International Travel Expo (ITE) in HCM City, the largest tourism event in Viet Nam, will be held September 30-October 2.

La Quoc Khanh, deputy director of the HCM City Department of Culture, Sports and Tourism, said the expo would be held at the new, modern Sai Gon Exhibition and Convention Centre (SECC) in the Phu My Hung area in District 7.

Yesterday, the organisers of ITE 2010 announced the participation of 155 buyers from 35 countries and regions, nine tourism promotional organisations including those from India, Turkey, China, Thailand, Myanmar, Malaysia, and 15 newspapers and magazines from 13 countries, including Sweden, Italy, Thailand, Australia, Canada, Germany, China, Russia and France.

During the event, several networking opportunities will be available, including the ASEAN Tourism Investment Forum; a conference with four ministers from Laos, Cambodia, Myanmar and Viet Nam; 2010 Tourism Alliance Awards; Viet Nam Night; Cambodia Night; and a lunch party hosted by the Thailand Ministry of Tourism.

ITE 2010 is open only to trade visitors and buyers on the first day and a half of the event. It is open to the public for a half day on October 1 and 2.

"ITE 2010, with the theme Three Countries One Destination, offers business opportunities for both inbound and outbound travel all at one event," said Nguyen Van Tan, the department director and manager of the city representative office of the Ministry of Culture, Sports and Tourism.

"Besides offering a channel for Cambodia, Laos and Viet Nam to promote themselves, the event is an opportunity for our tourism to look back and improve so that it can be better."

The previous ITE 2009 held last year at the Phu Tho stadium in District 11 attracted 186 exhibiting organisations and companies from 16 countries and regions, 109 buyers from 21 countries and regions, and 14,242 visitors (4,939 trade and 9,303 public visitors). — VNS

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PM approves fishing industry strategy

Photo: Tuoi Tre

The Prime Minister has approved the development strategy for Vietnam's fishing industry that will be completed by 2020.

The Government needs an estimated VND57.4 trillion (US$2.9 billion) to implement the strategy, according to Decision 1690/QD-TTg.

Under the plan, the fishing industry will be industrialised and developed to increase output, improve quality, and enhance the competitiveness.

The plan aims to improve fishermen's living standards, protect the country's environment and secure the country's coastline.

This strategy aims to increase production by 8-10 percent per year and to export 6.5-7 million tons of seafood worth $8-9 billion by 2020.

Vietnam will focus on developing freshwater fish, molluscs, sea fish, shrimp and crab sectors in the Red River Delta. The country will also work to improve the tra fish and shrimp sectors in the East Sea and the southern region so that the products are congruent with Global GAP standards. Plants will also be built in central Vietnam to produce feed that will sell domestically and in ASEAN.

The country will cooperate with ASEAN countries to develop the fishing industry, according to the strategy.

Vietnam expects to earn $4.5 billion in seafood exports this year. The country earned $2.9 billion from seafood exports during the first eight months of the year.

 

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PM approves fishing industry strategy

Photo: Tuoi Tre

The Prime Minister has approved the development strategy for Vietnam's fishing industry that will be completed by 2020.

The Government needs an estimated VND57.4 trillion (US$2.9 billion) to implement the strategy, according to Decision 1690/QD-TTg.

Under the plan, the fishing industry will be industrialised and developed to increase output, improve quality, and enhance the competitiveness.

The plan aims to improve fishermen's living standards, protect the country's environment and secure the country's coastline.

This strategy aims to increase production by 8-10 percent per year and to export 6.5-7 million tons of seafood worth $8-9 billion by 2020.

Vietnam will focus on developing freshwater fish, molluscs, sea fish, shrimp and crab sectors in the Red River Delta. The country will also work to improve the tra fish and shrimp sectors in the East Sea and the southern region so that the products are congruent with Global GAP standards. Plants will also be built in central Vietnam to produce feed that will sell domestically and in ASEAN.

The country will cooperate with ASEAN countries to develop the fishing industry, according to the strategy.

Vietnam expects to earn $4.5 billion in seafood exports this year. The country earned $2.9 billion from seafood exports during the first eight months of the year.

 

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EU sees Vietnam as a market economy by 2018

A senior EU trade official says that Vietnam will meet all the five criteria for the world’s largest trading bloc to recognise the country as having a market economy by 2018.

Stefan Depypere, Director of Trade Defence under the European Commission Directorate-General for Trade, stated this at a press briefing in Hanoi on September Friday at the end of his visit to Vietnam .

He said he saw the progress made by Vietnam ’s ministries and industries on the criteria for a market economy.

The EC trade representative also made public the positive outcomes of the ninth round of negotiations and said that Vietnam and the EU would sign a new partnership and cooperation agreement during a summit of the Asia-Europe Meeting (ASEM) due to take place in Belgium , in October.

In regard to the EU’s anti-dumping tariffs on Vietnam ’s leather shoes, which will expire in March, 2011, Depypere said that the EU’s next decision will largely depend on developments and the health of the footwear manufacturing industry in Europe .

He added however, that he felt positive after Vietnam ’s bicycles can now be exported to Europe once more.

During his stay in Vietnam, Depypere met with the Ministry of Industry and Trade, the State Bank of Vietnam and the Ministry of Finance, where both parties focused on research on the current accounting system in three major fields, from macro-economic policy to legal frameworks and progress in implementation by businesses.

EU and Vietnamese agencies have reached a consensus on conducting joint research with independent experts, to consider and scrutinise the Vietnamese economy to try and establish the country’s market economy status, said Depypere.

They will compare the outcomes of research with statistics released by prestigious international economic and financial institutions such as the World Bank and the International Monetary Fund before reaching a final conclusion, which should be an advantage for the Vietnamese economy, concluded the EU expert.

In February, 2010, the EC recognised Vietnam ’s achievements in meeting the first of five criteria needed to be recognised as a market economy, namely the Government’s allocation of human resources and business decisions, both direct or indirect.

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EU sees Vietnam as a market economy by 2018

A senior EU trade official says that Vietnam will meet all the five criteria for the world’s largest trading bloc to recognise the country as having a market economy by 2018.

Stefan Depypere, Director of Trade Defence under the European Commission Directorate-General for Trade, stated this at a press briefing in Hanoi on September Friday at the end of his visit to Vietnam .

He said he saw the progress made by Vietnam ’s ministries and industries on the criteria for a market economy.

The EC trade representative also made public the positive outcomes of the ninth round of negotiations and said that Vietnam and the EU would sign a new partnership and cooperation agreement during a summit of the Asia-Europe Meeting (ASEM) due to take place in Belgium , in October.

In regard to the EU’s anti-dumping tariffs on Vietnam ’s leather shoes, which will expire in March, 2011, Depypere said that the EU’s next decision will largely depend on developments and the health of the footwear manufacturing industry in Europe .

He added however, that he felt positive after Vietnam ’s bicycles can now be exported to Europe once more.

During his stay in Vietnam, Depypere met with the Ministry of Industry and Trade, the State Bank of Vietnam and the Ministry of Finance, where both parties focused on research on the current accounting system in three major fields, from macro-economic policy to legal frameworks and progress in implementation by businesses.

EU and Vietnamese agencies have reached a consensus on conducting joint research with independent experts, to consider and scrutinise the Vietnamese economy to try and establish the country’s market economy status, said Depypere.

They will compare the outcomes of research with statistics released by prestigious international economic and financial institutions such as the World Bank and the International Monetary Fund before reaching a final conclusion, which should be an advantage for the Vietnamese economy, concluded the EU expert.

In February, 2010, the EC recognised Vietnam ’s achievements in meeting the first of five criteria needed to be recognised as a market economy, namely the Government’s allocation of human resources and business decisions, both direct or indirect.

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Overseas Vietnamese given new property rights

Overseas Vietnamese living abroad who have maintained their Vietnamese citizenship are permitted to own unlimited property, according to the latest decree on implementation of the Land and Housing Law.

Deputy Minister of construction Nguyen Tran Nam said that this is a change from the previous decree, which has been in force since 2001, which stipulated that only selected groups of people of the Vietnamese origin could own unlimited property.

The new decree stipulates that overseas Vietnamese eligible to buy houses in Vietnam may also enjoy other privileges, such as the transfer of land-use rights when selling; using credit organisations to mortgage their land-use rights; or leasing out the property.

This change promotes further equality between overseas Vietnamese and Vietnamese citizens when it came to property ownership in Vietnam, said Truong Thi Hoa, a lawyer from the HCMC Bar Association.

Nam said this decree also provides specific guidance about the papers overseas Vietnamese are required to present to prove their eligibility to buy real estate.

"All the requirements are more concrete and transparent than before, which will hopefully pave the way for better implementation of the law at local levels," he said.

One of the major hurdles for overseas Vietnamese that hinders them from purchasing property in Vietnam is the procedure to prove their origin, Luong Bach Van, chairwoman of the Overseas Vietnamese Committee in HCM City, said.

"If they lose relevant papers, which is often the case for people who have lived abroad for a long time, the whole process may come to a standstill. For those who have already prepared the necessary certificates, it still takes at least three months to verify them," she said.

Chairman of the Overseas Vietnamese Businessmen Club Nguyen Ngoc My said that many overseas Vietnamese commonly get around the red-tape procedures by putting their real estate transactions under the name of a Vietnamese citizen.

Nguyen Thi Thu Van, who owns an auto dealership in San Francisco and divides her time between Vietnam and the US , said she has bought several houses in Vietnam but asked her relatives to register for ownership.

"This is much quicker, but I am luckier than other overseas Vietnamese who may not have trustees in Vietnam . The new decree is a good signal for all of us, but I am a little bit concerned about its implementation in practice," she said.

My, a Vietnamese Australian, said he bought a house at the beginning of this year but is still waiting for his property ownership certificate.

"I hope the changes in relevant legal documents will help procedures go more smoothly, which will in turn make it easier for overseas Vietnamese to take part in Vietnam's property market," he said.

Deputy Minister Nam said the new regulations will provide incentives for overseas Vietnamese to return to the country to buy houses, which would help boost the real estate market in Vietnam .

He also refuted the concern that overseas Vietnamese could utilise the loosened regulations to find their way into real estate speculation, potentially leading to a housing market bubble.

"In fact, property prices in Vietnam are comparatively high and the housing market is not that attractive," he said.

Nguyen Quang Tuyen, head of Hanoi Law University 's Land Law Department, said the new regulations may create more demand in the housing market but not enough to create a boom because the relevant administrative procedures are still not working very well.

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September CPI records highest rise in decade

Photo: Tuoi Tre

The country’s Consumer Price Index (CPI) in September went up by 1.31 percent over the previous month, the highest level for September of any year since 2000.

According to the General Statistics Office, the September CPI rose 8.92 percent over September 2009, increasing between 0.34-12.02 percent in 10 out of 11 groups of commodities.

The most significant increase was seen in educational products and services, generating 12.02 percent, followed by housing and construction materials, up 1.08 percent. Meanwhile, transport posted an increase of 0.91 percent, with restaurants and related services, up 0.79 percent.

Commodities and other services saw a 0.57 percent increase, while entertainment and tourism services were up by 0.48 percent and drinks and tobacco up 0.44 percent.

The prices of medicines and medical services rose by 0.35 percent.

Slight increases were seen in prices of garment and textiles, headwear and footwear, up by 0.34 percent, and household utensils and appliances, up 0.34 percent.

However, prices of post and telecoms continued to decrease, down by 0.07 percent.

Experts said the record increase of September CPI was due to many impacts, especially the increased prices of educational products at the beginning of the 2010-2011 school year.

In addition, the prices of many materials and essential commodities on world markets saw large increases, and the exchange rate between the Vietnamese dong and the US dollar was adjusted as the dollar strengthened.

The price of gas in September rose by nearly 6 percent or VND14,000 per 12kg cylinder over August. In mid-September, the price of steel in the south was up VND300,000 per tonne after it had increased five times in August.

Sharp increases in food and restaurant-related services, especially prices of rice - increasing 2.32 percent - markedly contributed to CPI rise. Moreover, people had a long holiday for National Day and the Mid-Autumn festival, and with both occurring in September, this increased demand for tourism, entertainment and shopping.

The CPI of the two economic hubs, Hanoi and Ho Chi Minh City increased nearly 1 percent against August - despite measures to stabilize eight essential goods - and exerted a dramatic impact on the country’s CPI.

In September, prices of gold and US dollars on the black market saw sharp increases. Gold prices went up by 3.58 percent from August, and by 34.35 percent against September 2009.

Meanwhile, the US dollar price rose 1.61 percent against August and 7.35 percent against September 2009.

However, experts have warned that the goal of maintaining inflation at 8 percent is not easy as the country will continue to face complicated impacts, including instability of the world economy, as well as epidemics and natural disasters. In addition, CPI regularly increases in the fourth quarter of every year.

Ministries, sectors and localities are urged to closely control prices of goods and services with support from the government and obey price registration and declaration instructions.

Experts also warned that the fourth quarter was the time for payment of imports of commodities and materials for production, and it is necessary to have flexible measures on exchange and bank interest rates to ease difficulties for enterprises in order to ensure the balance between demand and supply, and effectively curb price surges.

 

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