21-02-2009
TIEN GIANG — Southern Tien Giang Province’s Tu Quy rice, grown in Cai Lay District, has become the first domestic rice to meet Global Good Agriculture Practices (GAP) standards.
Totally pesticide-free, the rice grown in Cai Lay District met 211 strict assessment criteria to be granted a GAP certificate by German accreditation firm TUV SUD PSD Vietnam.
"This is an important achievement marking the end of the small-scale and backward agriculture production of farmers in the country," said Vo Tong Xuan, an expert in rice production and former rector of An Giang University.
"With this step, the country’s agriculture can move into a period of quality production, which means we can build trade marks, boost scales of production and better ensure quality."
The GAP-accredited rice has only been grown by members of My Thanh Co-operative in Cai Lay District, where the rice farmers have cultivated a total area of 11.4 ha, according to Nguyen Van Bay, chairman of the co-operative.
Shortly after the co-operative received certificates for their rice, ADC Company committed to buying all the co-operative’s rice at above-market prices, according to Bay.
Le Huu Hai, head of the Agriculture and Rural Development Department of Cai Lay District, said the co-operative in particular and the province in general had come a long way to achieve the result.
Since 2004, provincial authorities have backed programmes to improve the quality and productivity of local rice farming. Farmers were assisted in learning to apply new technology in rice production.
In 2008, the district registered to produce rice which would meet the Global GAP standard.
Farmers proposed establishing a co-operative, in which they could exchange modern technology and techniques, as well as receive help in finding the best wholesale contracts.
"Before the co-operative was set up, farmers had to find their own buyers and had less control over deciding the price of their products," said Nguyen Van Khang, director of the Department of Agriculture and Rural Development in Tien Giang Province.
"But now, things have changed. Members not only have more knowledge on production technology but are also able to better control their production costs and profits," he said.
The profits farmers make from one hectare of rice grown in accordance to the Global GAP production process can reach more than VND30 million (US$1,750) per year, while other kinds of rice promise annual profits of about VND15 million ($880), according to Truong Van Bay.
The co-operative has signed contracts to sell 50 tonnes of Tu Quy rice to ADC Company, and will sell 100 tonnes more by early March, said Bay.
Nguyen Ngoc Son, vice general director of ADC Company, said he was optimistic about the future of the rice, adding that there had been several export orders for this type of rice already.
Nice price
"The quality of this rice is quite high, it does not cause any harm to customers since it is pesticide-free and the price is very competitive," said Son.
He added that the price of the rice would be lower than VND20,000 per kg ($1.1), while the price for Thai rice was about VND20,000 per kg.
Nguyen Huu Chi, chairman of the provincial People’s Committee, decided to allocate part of the local budget to support farmers in widening the growing area Tu Quy rice, expecting to reach 100ha by the end of 2009.
— VNS
Monday, February 23, 2009
Black Market Price For The Dollar Climbs
HA NOI — A single dollar cost as much as VND18,000 on the street yesterday.
The price represented a VND200-300 depreciation against the dollar within a day and a VND350-450 fall since Thursday morning.
Gold shops on Ha Trung and Tran Nhan Tong streets, Ha Noi, bought a single dollar at VND17,750-17,800 and sold at VND17,950-18,000.
The rate at small shops ranged from VND17,600-17,750.
In the non-deliverable-forward, or NDF, market – where investors anticipate the value of currencies – the monthly cost of the dollar was expected to rise to VND18,300 within three months – up VND700 against late last year – and VND19,200 within six months.
The dollar is expected to cost VND19,900 by December.
But the State Bank of Viet Nam reduced the daily inter-bank exchange rate by VND3 to VND16,974 on the mandated market.
Vietcombank’s buying and selling price was the same at VND17,483 and the exchange rates at commercial banks remained at the upper limit of the adjustable peg.
The Vietcombank’s rate at the end of 2008 was VND17,494 compared with VND16,025 the previous year.
Several bankers described the demand for the dollar as normal.
"Purchasing power in the domestic market is not growing and demand from enterprises to pay for imports remains limited," said Asia Commercial Bank deputy general director Nguyen Thanh Toai.
The currency, at its most volatile, had ranged between VND15,825 and VND17,495 throughout last year.
Why the high price?
So why the high price on the street?
Senior economist Le Dang Doanh believes that both business and individuals are seeking safety in the dollar.
Others believe the Government decision, announced last Friday, to issue bonds denominated in the dollar to fund key national projects and help offset the budget deficit has added to the currency’s popularity.
People believe policy makers will allow the depreciation of the domestic currency to make the bonds more attractive.
As PXP Viet Nam Asset Management’s Kevin Snowball explained: "Investors will buy bonds if the foreign currency is stronger because they’ll make money.
"They won’t buy bonds if the foreign currency is weaker because they’ll lose money."
Also gold traders, who sold to take advantage of the high international price for the precious metal, are turning their dong into the dollar because the interest banks now offer for deposits is not as attractive as several months ago.
The likelihood that the interest paid for dong deposits will fall as low inflation in Asia, including Viet Nam, allows the central bank to further reduce the interest rate also promotes the dollar.
In addition, the Harvard Kennedy School of Government and some international banks have advised a further, orderly depreciation of the dong this year to boost exports and narrow the trade deficit.
Then, as Asian stocks slide and insolvent banks face the prospect of public ownership, investors are choosing the safety of the dollar, US Treasury bonds and gold.
And many bankers agree, the Government is unlikely to intervene in the market.
Hot gold
Gold jumped slightly to VND19.67 million (US$1,130) a tael yesterday, up VND20,000 per tael against late Thursday.
The price followed the world price for the precious metal, which had reached $978.20 an ounce – up $4.80 and its highest for more than six months.
A tael equals 1.2 troy ounces.
On the Sai Gon Gold Trading Exchange in Ha Noi, gold cost VND20.47 million ($1,133) per tael.
In Ha Noi, the Phu Nhuan Jewellery Co, PNJ-DAB, the buy-sell price for gold leaf was VND19.58/19.66 million ($1,125-1,129) per tael.
At Bao Tin Minh Chau Jewellery Co (BTMC), gold traded at about VND19.54/19.62 million ($1,122-1,127) per tael while at the Sai Gon Jewellery Holding Co, it was about VND19.60/19.67 million ($1,126-1,130) per tael.
Sellers, who offered not only gold leaf but also gold jewellery, heavily outnumbered buyers in the morning and early afternoon.
Viet Nam Gold Trading Association member Tran Quoc Quynh forecast that domestic gold prices would increase during the next few days because of the international trend upward.
It could plateau at $1,050 per ounce because of the heavy demand in the US, Russia, China, Switzerland and France, he said.
— VNS
The price represented a VND200-300 depreciation against the dollar within a day and a VND350-450 fall since Thursday morning.
Gold shops on Ha Trung and Tran Nhan Tong streets, Ha Noi, bought a single dollar at VND17,750-17,800 and sold at VND17,950-18,000.
The rate at small shops ranged from VND17,600-17,750.
In the non-deliverable-forward, or NDF, market – where investors anticipate the value of currencies – the monthly cost of the dollar was expected to rise to VND18,300 within three months – up VND700 against late last year – and VND19,200 within six months.
The dollar is expected to cost VND19,900 by December.
But the State Bank of Viet Nam reduced the daily inter-bank exchange rate by VND3 to VND16,974 on the mandated market.
Vietcombank’s buying and selling price was the same at VND17,483 and the exchange rates at commercial banks remained at the upper limit of the adjustable peg.
The Vietcombank’s rate at the end of 2008 was VND17,494 compared with VND16,025 the previous year.
Several bankers described the demand for the dollar as normal.
"Purchasing power in the domestic market is not growing and demand from enterprises to pay for imports remains limited," said Asia Commercial Bank deputy general director Nguyen Thanh Toai.
The currency, at its most volatile, had ranged between VND15,825 and VND17,495 throughout last year.
Why the high price?
So why the high price on the street?
Senior economist Le Dang Doanh believes that both business and individuals are seeking safety in the dollar.
Others believe the Government decision, announced last Friday, to issue bonds denominated in the dollar to fund key national projects and help offset the budget deficit has added to the currency’s popularity.
People believe policy makers will allow the depreciation of the domestic currency to make the bonds more attractive.
As PXP Viet Nam Asset Management’s Kevin Snowball explained: "Investors will buy bonds if the foreign currency is stronger because they’ll make money.
"They won’t buy bonds if the foreign currency is weaker because they’ll lose money."
Also gold traders, who sold to take advantage of the high international price for the precious metal, are turning their dong into the dollar because the interest banks now offer for deposits is not as attractive as several months ago.
The likelihood that the interest paid for dong deposits will fall as low inflation in Asia, including Viet Nam, allows the central bank to further reduce the interest rate also promotes the dollar.
In addition, the Harvard Kennedy School of Government and some international banks have advised a further, orderly depreciation of the dong this year to boost exports and narrow the trade deficit.
Then, as Asian stocks slide and insolvent banks face the prospect of public ownership, investors are choosing the safety of the dollar, US Treasury bonds and gold.
And many bankers agree, the Government is unlikely to intervene in the market.
Hot gold
Gold jumped slightly to VND19.67 million (US$1,130) a tael yesterday, up VND20,000 per tael against late Thursday.
The price followed the world price for the precious metal, which had reached $978.20 an ounce – up $4.80 and its highest for more than six months.
A tael equals 1.2 troy ounces.
On the Sai Gon Gold Trading Exchange in Ha Noi, gold cost VND20.47 million ($1,133) per tael.
In Ha Noi, the Phu Nhuan Jewellery Co, PNJ-DAB, the buy-sell price for gold leaf was VND19.58/19.66 million ($1,125-1,129) per tael.
At Bao Tin Minh Chau Jewellery Co (BTMC), gold traded at about VND19.54/19.62 million ($1,122-1,127) per tael while at the Sai Gon Jewellery Holding Co, it was about VND19.60/19.67 million ($1,126-1,130) per tael.
Sellers, who offered not only gold leaf but also gold jewellery, heavily outnumbered buyers in the morning and early afternoon.
Viet Nam Gold Trading Association member Tran Quoc Quynh forecast that domestic gold prices would increase during the next few days because of the international trend upward.
It could plateau at $1,050 per ounce because of the heavy demand in the US, Russia, China, Switzerland and France, he said.
— VNS
VIETNAM BUSINESS NEWS UPDATE
19-02-09
• The Electricity of Vietnam has reported that it is to invest almost 50 trillion VND in electricity generation sources during 2009, including nuclear power plants. The State-run business revealed that it has raised 44.39 trillion VND so far and is actively seeking the remaining 5.6 trillion VND. The group said that it would make full use of official development assistance (ODA) and preferential credit sources, seek commercial loans, and ensure the smooth progress of an approved plan to issue 4 trillion VND worth of bonds. With the planned investment, EVN will strive to put into operation nine electricity plants with a combined capacity of 2,696 MW and commence construction of four thermal-electricity plants, capable of producing 3,800 MW in total, this year.
• Germany’s Metro Cash & Carry Group began construction of a 20 million USD wholesale trade centre in southern Dong Nai province on January 16. This is Metro Cash & Carry’s 9th wholesale trade centre in Vietnam and the first in the southeastern region. Once operational in June 2009, the 50,000 sq.m centre is expected to provide a wide range of goods for local consumers, including food and agro-forestry products.
• International call charges from Vietnam are lower than any other country in the region thanks to the 50% discount offered by the Vietnam Post and Telecommunications Group (VNPT) last September. The group’s 2008 revenue increased 19% against over 2007, at more than 55 trillion VND (3.2 billion USD). In 2008, VNPT added 22 million subscribers to its list of phone users, increasing the number of its subscribers to 49 million. VNPT plans to increase its revenue during 2009 to around 60 trillion VND whilst making further reductions to call charges.
• A total of 115 businesses from Vietnam, Laos and Cambodia have been honored for their outstanding achievements in production and contributions to the neighborly friendship between the three countries. The Vietnamese award-winners included the Ministry of Defense’s Corporation 15, the Vietnam-Laos Rubber Joint Stock Company, the Hoang Anh-Gia Lai, and the Truong Son Construction Corporation. A ceremony to grant awards was held by the Vietnam Association of Small and Medium-sized Enterprises (Vinasme) in Hanoi on Jan. 18.
• The total number of ATM cards issued last year was 1.1 million, equal to the number in 2007, according to the year-end report of the State Bank of Vietnam’s Ho Chi Minh City Branch. The total value of ATM card transactions reached 69,000 billion VND (4 billion USD), up 32% compared with 2007, the report said. The number of cards now amounts to more than 4.2 million and the number of ATM machines is 2,257, according to the report. More than 146,000 civil servants in the city received salaries through ATMs in 2008, accounting for 92.9% of government employees.
• Vietnam’s footwear and garment exports to the Czech Republic reached 64 million USD in 2008, up by 50% compared with the previous year, according to the Ministry of Industry and Trade. The Vietnamese Embassy’s Trade Commission in the Czech Republic said garment and footwear was now the two major Vietnamese imports to the country. The ministry said Vietnam was expected to earn export revenue of 330 million USD from the Czech Republic in 2009, a year-on-year increase of 27%. That projected figure includes 80 million USD from garment and footwear products, an increase of 26% compared with 2008. Other major Vietnamese exports to the Czech Republic include coffee, tea, pepper, seafood and furniture.
• Gas supplier MTGas Joint Stock Company (MTG) on Jan. 15 became the latest firm to list at the HCMC Stock Exchange, bringing the total number of companies on the board to 172. The firm, with a chartered capital of 80 billion VND (4.5 million USD), provides liquefied petroleum gas and petrol to industrial and household customers. It also engages in goods transportation, warehouse business, infrastructure development, real estate and financial investment. The company, headquartered in Long An province, earned a net profit of 1.5 billion VND in the first nine months of 2008 with a turnover of 106 billion VND. This was down from the 12.7 billion VND it earned in 2007 when its revenue was 103 billion VND.
• Asia Commercial Bank (ACB), Vietnam's fifth largest lender, said it made a gross profit of 2.56 trillion dong ($151 million) last year, up 36.9 percent from the previous year. The total assets of the Ho Chi Minh City-based bank rose 35 percent to 115.24 trillion dong, it said in a statement seen on Monday. The 2008 results were not audited.
- Culled from Vietnam News Service VNS.
• The Electricity of Vietnam has reported that it is to invest almost 50 trillion VND in electricity generation sources during 2009, including nuclear power plants. The State-run business revealed that it has raised 44.39 trillion VND so far and is actively seeking the remaining 5.6 trillion VND. The group said that it would make full use of official development assistance (ODA) and preferential credit sources, seek commercial loans, and ensure the smooth progress of an approved plan to issue 4 trillion VND worth of bonds. With the planned investment, EVN will strive to put into operation nine electricity plants with a combined capacity of 2,696 MW and commence construction of four thermal-electricity plants, capable of producing 3,800 MW in total, this year.
• Germany’s Metro Cash & Carry Group began construction of a 20 million USD wholesale trade centre in southern Dong Nai province on January 16. This is Metro Cash & Carry’s 9th wholesale trade centre in Vietnam and the first in the southeastern region. Once operational in June 2009, the 50,000 sq.m centre is expected to provide a wide range of goods for local consumers, including food and agro-forestry products.
• International call charges from Vietnam are lower than any other country in the region thanks to the 50% discount offered by the Vietnam Post and Telecommunications Group (VNPT) last September. The group’s 2008 revenue increased 19% against over 2007, at more than 55 trillion VND (3.2 billion USD). In 2008, VNPT added 22 million subscribers to its list of phone users, increasing the number of its subscribers to 49 million. VNPT plans to increase its revenue during 2009 to around 60 trillion VND whilst making further reductions to call charges.
• A total of 115 businesses from Vietnam, Laos and Cambodia have been honored for their outstanding achievements in production and contributions to the neighborly friendship between the three countries. The Vietnamese award-winners included the Ministry of Defense’s Corporation 15, the Vietnam-Laos Rubber Joint Stock Company, the Hoang Anh-Gia Lai, and the Truong Son Construction Corporation. A ceremony to grant awards was held by the Vietnam Association of Small and Medium-sized Enterprises (Vinasme) in Hanoi on Jan. 18.
• The total number of ATM cards issued last year was 1.1 million, equal to the number in 2007, according to the year-end report of the State Bank of Vietnam’s Ho Chi Minh City Branch. The total value of ATM card transactions reached 69,000 billion VND (4 billion USD), up 32% compared with 2007, the report said. The number of cards now amounts to more than 4.2 million and the number of ATM machines is 2,257, according to the report. More than 146,000 civil servants in the city received salaries through ATMs in 2008, accounting for 92.9% of government employees.
• Vietnam’s footwear and garment exports to the Czech Republic reached 64 million USD in 2008, up by 50% compared with the previous year, according to the Ministry of Industry and Trade. The Vietnamese Embassy’s Trade Commission in the Czech Republic said garment and footwear was now the two major Vietnamese imports to the country. The ministry said Vietnam was expected to earn export revenue of 330 million USD from the Czech Republic in 2009, a year-on-year increase of 27%. That projected figure includes 80 million USD from garment and footwear products, an increase of 26% compared with 2008. Other major Vietnamese exports to the Czech Republic include coffee, tea, pepper, seafood and furniture.
• Gas supplier MTGas Joint Stock Company (MTG) on Jan. 15 became the latest firm to list at the HCMC Stock Exchange, bringing the total number of companies on the board to 172. The firm, with a chartered capital of 80 billion VND (4.5 million USD), provides liquefied petroleum gas and petrol to industrial and household customers. It also engages in goods transportation, warehouse business, infrastructure development, real estate and financial investment. The company, headquartered in Long An province, earned a net profit of 1.5 billion VND in the first nine months of 2008 with a turnover of 106 billion VND. This was down from the 12.7 billion VND it earned in 2007 when its revenue was 103 billion VND.
• Asia Commercial Bank (ACB), Vietnam's fifth largest lender, said it made a gross profit of 2.56 trillion dong ($151 million) last year, up 36.9 percent from the previous year. The total assets of the Ho Chi Minh City-based bank rose 35 percent to 115.24 trillion dong, it said in a statement seen on Monday. The 2008 results were not audited.
- Culled from Vietnam News Service VNS.
Friday, February 20, 2009
Nigeria To Partner Vietnam to Develop Textile Industry
Federal Government has expressed willingness to partner Vietnam on the development of the textile industry.
The Minister of Commerce and Industry, Chief Achike Udenwa, who was represented by the Permanent Secretary, Mrs. Elizabeth Emuren, disclosed this at the Nigeria-Vietnam Chamber of Commerce and Industry stakeholders’ forum in Lagos on Tuesday.
He said the government was poised to foster trade ties with Vietnam and facilitate the development of the textile industry.
He said, “We must also take full advantage of our vast market in Africa, especially in the West African sub-region to work closely with our Vietnamese trading partners, not only to boost trade, but also to work assiduously in developing all our industrial potential.
“Especially in the area of textile industries, an area which Vietnam is reputed for its expertise. To attain this goal, the Nigerian-Vietnam Chamber of Commerce and Industry and other stake holders must work with their Vietnamese counterparts.”
He said the effort was to improve mechanism for better bilateral cooperation and increase coordination with relevant agencies of Vietnam and Nigeria to remove difficulties and obstacles hindering Vietnam’s investment flow into the country.
The President of the chamber, Mr. Oye Akinsemoyin, said Vietnam had established strong and virile economic relations with most countries, the world.
He said Vietnam was a trusted partner in progress to many countries, resulting in an enviable and constant elevation of her position on the international front.
He said despite the huge constraint imposed by geographical distance, Vietnam and Nigeria had mutually desired to develop unique friendship as the bedrock to trade, commercial and industrial collaboration between the two.
-By Sulaiman Adenekan Punch News
The Minister of Commerce and Industry, Chief Achike Udenwa, who was represented by the Permanent Secretary, Mrs. Elizabeth Emuren, disclosed this at the Nigeria-Vietnam Chamber of Commerce and Industry stakeholders’ forum in Lagos on Tuesday.
He said the government was poised to foster trade ties with Vietnam and facilitate the development of the textile industry.
He said, “We must also take full advantage of our vast market in Africa, especially in the West African sub-region to work closely with our Vietnamese trading partners, not only to boost trade, but also to work assiduously in developing all our industrial potential.
“Especially in the area of textile industries, an area which Vietnam is reputed for its expertise. To attain this goal, the Nigerian-Vietnam Chamber of Commerce and Industry and other stake holders must work with their Vietnamese counterparts.”
He said the effort was to improve mechanism for better bilateral cooperation and increase coordination with relevant agencies of Vietnam and Nigeria to remove difficulties and obstacles hindering Vietnam’s investment flow into the country.
The President of the chamber, Mr. Oye Akinsemoyin, said Vietnam had established strong and virile economic relations with most countries, the world.
He said Vietnam was a trusted partner in progress to many countries, resulting in an enviable and constant elevation of her position on the international front.
He said despite the huge constraint imposed by geographical distance, Vietnam and Nigeria had mutually desired to develop unique friendship as the bedrock to trade, commercial and industrial collaboration between the two.
-By Sulaiman Adenekan Punch News
VIETNAM-NIGERIAN TRADES BILATERAL RELATIONS HIGHLIGHTS SERIES (2)
Vietnam-Nigeria Joint Statement
At the invitation of Vietnamese President Tran Duc Luong, Nigerian President Olusegun Obasanjo paid an official visit to Vietnam from April 17-18.
During his stay in Vietnam, President Obasanjo and his entourage were warmly welcomed by Vietnamese leaders and people. President Obasanjo met with General Secretary of the Communist Party of Vietnam Nong Duc Manh, held talks with President Tran Duc Luong, met Prime Minister Phan Van Khai and visited General Vo Nguyen Giap. He laid a wreath at the Monument of Fallen Soldiers, paid a floral tribute to President Ho Chi Minh at his mausoleum, and visited the Institute for Agricultural Scientific Research and several economic and cultural establishments in Ha Noi.
During their talks, President Luong and President Obasanjo exchanged information on their experiences in the political, social and economic fields in their own countries. The two sides agreed that the two countries have many similarities and therefore they can assist each other. They also agreed that their potential for co-operation are great.
President Luong extolled the achievements obtained by the Nigerian people in their national construction and development, and the renovation programmes and efforts for democracy in Nigeria.
President Obasanjo expressed his admiration of Vietnam's brave struggle for national independence in the past and the important results of the renovation process obtained by the Vietnamese people.
The two sides were satisfied with the results of the visit. Reviewing the progress of the diplomatic ties over nearly three decades, the two leaders were delighted to see the bilateral relations are developing to a new height for the interests of both countries. They agreed to encourage investment and technical co-operation. On this issue, they instructed their officials to negotiate soon to reach agreements in the fields of agriculture, forestry, underground water exploitation and irrigation work, infrastructure, economy and trade, science and technology, environment, health care, culture and others.
The Nigerian President lauded Vietnam for successfully organising the "Vietnam - Africa: Co-operation and Development Opportunities in the 21st Century" forum in Hanoi in May 2003, describing it as reflective of Vietnam's desire to boost relations with Africa.
The two sides reaffirmed their attachment to the Asia-Africa partnership, which is regarded as part of the South-South Co-operation. They applauded the Asian and African leaders' decision to sign a joint declaration at the upcoming Asia - Africa Summit in Bandung, Indonesia.
President Luong spoke highly of the establishment of the African Union, of which President Obasanjo is Chairman, and the approval of the New Partnership for Africa's Development (NEPAD).
Regarding international affairs, the two Presidents held that Vietnam and Nigeria have common interest security defence. They, therefore, agreed to co-ordinate with other countries which have the same viewpoint to ensure a judicious and humane international, political and economic order. They shared the same view that the regions and the world should make more efforts to resolve problems such as poverty, slow development, and diseases.
The two Presidents supported the proposal to expand the United Nations Security Council in order to make the group more representative and democratic.
President Obasanjo thanked President Luong and Vietnamese officials and people for their warm welcome. He invited President Luong to visit Nigeria and President Luong accepted his invitation with thanks.
At the invitation of Vietnamese President Tran Duc Luong, Nigerian President Olusegun Obasanjo paid an official visit to Vietnam from April 17-18.
During his stay in Vietnam, President Obasanjo and his entourage were warmly welcomed by Vietnamese leaders and people. President Obasanjo met with General Secretary of the Communist Party of Vietnam Nong Duc Manh, held talks with President Tran Duc Luong, met Prime Minister Phan Van Khai and visited General Vo Nguyen Giap. He laid a wreath at the Monument of Fallen Soldiers, paid a floral tribute to President Ho Chi Minh at his mausoleum, and visited the Institute for Agricultural Scientific Research and several economic and cultural establishments in Ha Noi.
During their talks, President Luong and President Obasanjo exchanged information on their experiences in the political, social and economic fields in their own countries. The two sides agreed that the two countries have many similarities and therefore they can assist each other. They also agreed that their potential for co-operation are great.
President Luong extolled the achievements obtained by the Nigerian people in their national construction and development, and the renovation programmes and efforts for democracy in Nigeria.
President Obasanjo expressed his admiration of Vietnam's brave struggle for national independence in the past and the important results of the renovation process obtained by the Vietnamese people.
The two sides were satisfied with the results of the visit. Reviewing the progress of the diplomatic ties over nearly three decades, the two leaders were delighted to see the bilateral relations are developing to a new height for the interests of both countries. They agreed to encourage investment and technical co-operation. On this issue, they instructed their officials to negotiate soon to reach agreements in the fields of agriculture, forestry, underground water exploitation and irrigation work, infrastructure, economy and trade, science and technology, environment, health care, culture and others.
The Nigerian President lauded Vietnam for successfully organising the "Vietnam - Africa: Co-operation and Development Opportunities in the 21st Century" forum in Hanoi in May 2003, describing it as reflective of Vietnam's desire to boost relations with Africa.
The two sides reaffirmed their attachment to the Asia-Africa partnership, which is regarded as part of the South-South Co-operation. They applauded the Asian and African leaders' decision to sign a joint declaration at the upcoming Asia - Africa Summit in Bandung, Indonesia.
President Luong spoke highly of the establishment of the African Union, of which President Obasanjo is Chairman, and the approval of the New Partnership for Africa's Development (NEPAD).
Regarding international affairs, the two Presidents held that Vietnam and Nigeria have common interest security defence. They, therefore, agreed to co-ordinate with other countries which have the same viewpoint to ensure a judicious and humane international, political and economic order. They shared the same view that the regions and the world should make more efforts to resolve problems such as poverty, slow development, and diseases.
The two Presidents supported the proposal to expand the United Nations Security Council in order to make the group more representative and democratic.
President Obasanjo thanked President Luong and Vietnamese officials and people for their warm welcome. He invited President Luong to visit Nigeria and President Luong accepted his invitation with thanks.
VIETNAM-NIGERIAN BILATERAL TRADE RELATIONS HIGHLIGHTS SERIES (1)
Vietnam - Nigeria Investment and Business Cooperation Opportunities
Nearly 60 representatives of leading Nigerian organisations and businesses and many Vietnamese enterprises witnessed the signing ceremony of cooperation agreement between the VCCI and Nigeria - Vietnam Chamber of Commerce and Industry (NVCCI) at the Forum of Vietnam - Nigeria Investment and Business. The Forum is held by the VCCI in cooperation with Nigeria Investment Promotion Commission – NIPC and NVCCI on October 22 in Hanoi.
Wishing to boost cooperation
Prince Oye Akisemoyin, NCCI Chairman, said the Nigerian delegation to Vietnam this time included governmental officials of the Federation of Nigeria, some state Governors, and big economic groups, associations and corporations that are leading Nigerian businesses specialising in petroleum, energy, electricity, electronics, rice, agricultural produce, pharmaceuticals, finance, banking, coal, telecommunication, shipping, transportation, construction, machinery, general import and export, etc.
“We wish to boost investment and trade cooperation with Vietnamese enterprises. At present, there are few Vietnamese enterprises choosing Nigeria their destination for doing business. Therefore, the two countries should push up the relationship further”, said Adesoji Adesugba, Director of NIPC.
He added, many countries currently considered Nigeria as their appealing investment destination, many of them coming from Asia. "In 2001, China invested around USD1 billion in Nigeria. In the first six months of 2008, China has poured another investment of USD3 billion in Nigeria. We hope that we will attract a total amount of USD5 billion from China this year”, he provided an evidence.
Engr.Mustafa Bello, Secretary General of NIPC, said Nigerian businesses cared about Vietnam's assembly line and technology of processing cashew nuts and highly appreciated qualification of Vietnamese experts in agriculture and electronics.
In particular, Nigeria has a huge demand for rice, which is strength of Vietnam. According to H.E. Mr.Sani Bako, Chargé d'affaires, Nigerian Embassy in Hanoi, Nigeria has to import around 1.5 - 1.7 million tonnes of rice every year. Nigeria's Government has removed all tariff and fees of rice import in order to cool down its food crisis. Accordingly, rice imported into Nigeria will not pay all tariffs and fees since May 7, 2008. "This is a big chance for Vietnam's rice exporters", emphasised H.E.Mr.Sani Bako.
It is also known that under the framework of the Programme of Strengthening trade exchange among members of Central African Economic and Monetary Community, West Africa and members of Mekong River Sub-region, by the end of November, the VCCI will cooperate with the Ministry of Industry and Trade of Vietnam and the Vietnam Food Association to hold the Meeting of Rice Sellers and Buyers in Hochiminh city aimed at establishing a direct food exchange channel with 14 Western and Central African countries.
Bilateral trade turnover grows
Vu Tien Loc, Chairman of the VCCI, evaluated that Vietnam and Nigeria had good traditional relationship. The two countries had mutually exchanged high-rank official delegations. In 2001, the two countries signed the Trade Agreement, which included the MFN article to establish favourable legal corridor for bilateral business operations. At present, bilateral cooperation frameworks continue to be perfected.
Vietnam has exported to Nigeria since 1995 and started to import from Nigeria since 1998. The two-way import and export turnover has increased constantly, where Vietnam's trade balance is usually surplus. As from statistics of General Customs Office, Vietnam exported roughly USD33 million to and imported nearly USD22 million from Nigeria in 2007. In the first six months of 2008, Vietnam exported USD20.5 million to and imported USD26 million from Nigeria.
“Being one of the largest markets in Africa, Nigeria has a demand for a lot of commodities every year, many of them are strength of Vietnam", said Mr Loc. Main articles exported from Vietnam to Nigeria include textile and garment, computers, electronic products and components, medicine, plastic ware, auto and motorbike components and spare-parts. Vietnam mainly import such articles from Nigeria as raw cashew nuts, cotton, timber, plastic, raw materials, fertilisers, of which raw cashew nuts occupies 83 per cent of total import value from Nigeria (in 2007). Nigeria is at present the largest supplier of cashew nut for Vietnam.
Mr Loc said, the construction of Vietnam - Africa Portal as well as cooperation to establish the NVCCI would be a model to develop a relationship with African countries. Simultaneously, enterprises in the two countries would have good chances to tighten trade and investment relations.
However, Mr Le Duong Quang, Deputy Industry and Trade Minister, pointed out that achievements did not match potentials of the two countries. The main reason is the lack of information and cross-learning between the two business communities, limited commercial promotion.
Mr Quang suggested that the two countries should strengthen exchanging delegations of high rank, ministerial level and branch level, and business delegations as well as tightening cooperation relationship between functional ministries and branches, associations, chambers of commerce and industry in two countries in order to solve problems and utilise big potentials. “The two partners need also to boost exchanging information related to policies, trade and investment, commercial, investment, and tourism promotion activities, list of exhibitions and trade fairs in each country, list of import and export that each partner has comparative advantages. In particular, direct business delegation visits are the most useful information channel to fully exploit”, said Mr Quang.
Lan Anh
Nearly 60 representatives of leading Nigerian organisations and businesses and many Vietnamese enterprises witnessed the signing ceremony of cooperation agreement between the VCCI and Nigeria - Vietnam Chamber of Commerce and Industry (NVCCI) at the Forum of Vietnam - Nigeria Investment and Business. The Forum is held by the VCCI in cooperation with Nigeria Investment Promotion Commission – NIPC and NVCCI on October 22 in Hanoi.
Wishing to boost cooperation
Prince Oye Akisemoyin, NCCI Chairman, said the Nigerian delegation to Vietnam this time included governmental officials of the Federation of Nigeria, some state Governors, and big economic groups, associations and corporations that are leading Nigerian businesses specialising in petroleum, energy, electricity, electronics, rice, agricultural produce, pharmaceuticals, finance, banking, coal, telecommunication, shipping, transportation, construction, machinery, general import and export, etc.
“We wish to boost investment and trade cooperation with Vietnamese enterprises. At present, there are few Vietnamese enterprises choosing Nigeria their destination for doing business. Therefore, the two countries should push up the relationship further”, said Adesoji Adesugba, Director of NIPC.
He added, many countries currently considered Nigeria as their appealing investment destination, many of them coming from Asia. "In 2001, China invested around USD1 billion in Nigeria. In the first six months of 2008, China has poured another investment of USD3 billion in Nigeria. We hope that we will attract a total amount of USD5 billion from China this year”, he provided an evidence.
Engr.Mustafa Bello, Secretary General of NIPC, said Nigerian businesses cared about Vietnam's assembly line and technology of processing cashew nuts and highly appreciated qualification of Vietnamese experts in agriculture and electronics.
In particular, Nigeria has a huge demand for rice, which is strength of Vietnam. According to H.E. Mr.Sani Bako, Chargé d'affaires, Nigerian Embassy in Hanoi, Nigeria has to import around 1.5 - 1.7 million tonnes of rice every year. Nigeria's Government has removed all tariff and fees of rice import in order to cool down its food crisis. Accordingly, rice imported into Nigeria will not pay all tariffs and fees since May 7, 2008. "This is a big chance for Vietnam's rice exporters", emphasised H.E.Mr.Sani Bako.
It is also known that under the framework of the Programme of Strengthening trade exchange among members of Central African Economic and Monetary Community, West Africa and members of Mekong River Sub-region, by the end of November, the VCCI will cooperate with the Ministry of Industry and Trade of Vietnam and the Vietnam Food Association to hold the Meeting of Rice Sellers and Buyers in Hochiminh city aimed at establishing a direct food exchange channel with 14 Western and Central African countries.
Bilateral trade turnover grows
Vu Tien Loc, Chairman of the VCCI, evaluated that Vietnam and Nigeria had good traditional relationship. The two countries had mutually exchanged high-rank official delegations. In 2001, the two countries signed the Trade Agreement, which included the MFN article to establish favourable legal corridor for bilateral business operations. At present, bilateral cooperation frameworks continue to be perfected.
Vietnam has exported to Nigeria since 1995 and started to import from Nigeria since 1998. The two-way import and export turnover has increased constantly, where Vietnam's trade balance is usually surplus. As from statistics of General Customs Office, Vietnam exported roughly USD33 million to and imported nearly USD22 million from Nigeria in 2007. In the first six months of 2008, Vietnam exported USD20.5 million to and imported USD26 million from Nigeria.
“Being one of the largest markets in Africa, Nigeria has a demand for a lot of commodities every year, many of them are strength of Vietnam", said Mr Loc. Main articles exported from Vietnam to Nigeria include textile and garment, computers, electronic products and components, medicine, plastic ware, auto and motorbike components and spare-parts. Vietnam mainly import such articles from Nigeria as raw cashew nuts, cotton, timber, plastic, raw materials, fertilisers, of which raw cashew nuts occupies 83 per cent of total import value from Nigeria (in 2007). Nigeria is at present the largest supplier of cashew nut for Vietnam.
Mr Loc said, the construction of Vietnam - Africa Portal as well as cooperation to establish the NVCCI would be a model to develop a relationship with African countries. Simultaneously, enterprises in the two countries would have good chances to tighten trade and investment relations.
However, Mr Le Duong Quang, Deputy Industry and Trade Minister, pointed out that achievements did not match potentials of the two countries. The main reason is the lack of information and cross-learning between the two business communities, limited commercial promotion.
Mr Quang suggested that the two countries should strengthen exchanging delegations of high rank, ministerial level and branch level, and business delegations as well as tightening cooperation relationship between functional ministries and branches, associations, chambers of commerce and industry in two countries in order to solve problems and utilise big potentials. “The two partners need also to boost exchanging information related to policies, trade and investment, commercial, investment, and tourism promotion activities, list of exhibitions and trade fairs in each country, list of import and export that each partner has comparative advantages. In particular, direct business delegation visits are the most useful information channel to fully exploit”, said Mr Quang.
Lan Anh
Thursday, February 19, 2009
VIETNAM BUSINESS NEWS UPDATE
Vietnam's Ministry of Information and Communications is aiming to migrate the country's government to open source software by the end of 2010. The ambitious plan calls for rapid adoption of open source software and extensive training to ensure that IT staff and government employees will be able to adjust to the change. The first stage of the plan, which entails migrating all of the backend server infrastructure and training the IT personnel that manage it, is scheduled for completion by the end of June 2009. The next stage is the desktop rollout, which mandates adoption of OpenOffice.org, Firefox, and Thunderbird. The government expects this transition to be completely by the end of 2010.
The domestic garments and textiles sector has targeted to earn US$9.2-9.5 billion from exports in 2009, up 5% against 2008. In order to achieve the target, the sector has worked out measures including strengthening the apparatus of the Vietnam garments and textiles group, increasing productivity, developing human resources, boosting investment in to selected projects of effectiveness, accelerating trade promotion activities and expanding export markets in the Middle East, Eastern Europe and Africa. 2009 has been forecast to be a year of continued great difficulties for the sector due to the global economic recession and competition pressure from Chinese products. In 2008, the garments and textiles sector grew by 18% and earned US$9.1 billion from exports.
Vietnamese dairy farmers have filed a civil suit seeking compensation from the health ministry for erroneously saying the company they supplied sold melamine-laced products. Nearly 100 farmers in the northern province of Vinh Phuc said they were unable to sell their milk for three months after the health ministry announced that Hanoi Milk Joint Stock Co.'s products were tainted by the industrial chemical, the Vietnam News reported on Wednesday. The ministry recently said the company's products were in fact melamine-free, but the farmers said their situation had not improved. Hanoi Milk, Vietnam's third largest dairy product company, has reported that its revenue fell 70% in September due to the melamine scare.
Vietnam’s optimistic economic outlook ranks 7th amongst 36 countries and territories, said Grant Thornton International Ltd on January 5. The Grant Thornton International Business Report shows optimism in Vietnam to have fallen from +87 to +31, but as major world economies enter into recession, Vietnam remains one of the most optimistic countries in the world. Their macro view of the world economic stage explains the overall slump in optimism, but while privately held businesses are preparing for a prolonged and painful downturn, those in the emerging economies realize that at their own micro level it could offer real opportunities," said Kenneth Atkinson, Managing Partner of Grant Thornton Vietnam
Vietnam's central bank set the dollar's exchange rate lower at VND16,970 Thursday. The state-owned Vietcombank sold lower at VND17,479, compared with VND17,481 Wednesday. Gold shops sold flat at VND17,540. Dealers said they expect the exchange rate to rise toward the weekend on rising demand for the dollar.
A Hanoi court is believed to sentence two Malaysians - Tan Wei Hong, 26, and Cham Tack Choi, 23, to seven years in prison on Wednesday on charges of using fake credit cards. The two Malaysians were arrested on Dec. 21, 2007 when they went on a shopping spree at the Louis Vuitton fashion shop in Hoan Kiem district Hong later admitted to the police that he had visited Vietnam on three occasions and used fake credit cards to pay for 293 million VND (US$17,000) worth of goods. Meanwhile Choi had made two visits to Vietnam for the same purpose and had used fake cards to rack up more than 275 million VND (US$16,200) in goods.
The Advertising Research and Training Institute of Vietnam (ARTI Vietnam) and the Institute for Advertising of Singapore (IAS) will cooperate in training personnel for Vietnam’s fledging advertising sector. The two sides will ink a cooperation deal in Ho Chi Minh City on Jan. 9. On the occasion, ARTI Vietnam, which was officially set up in Sept. 2008, will grant certificates for its first graduates.
The Ministry of Planning and Investment (MoPI) has submitted to the Prime Minister for approval a 1 billion USD project to build a golf course, five-star hotels and hostels in Vientiane, Laos. If approved, it will be Vietnam’s ever largest investment project abroad. The project’s investor, Long Thanh Golf Investment and Business Joint Stock Company, said it plans to mobilize capital from share holders, domestic and foreign partners and bank loans. According to the MoPI, Vietnam is the largest foreign investor in Laos with 146 projects worth 1.5 billion USD. In the first 11 months of 2008, Vietnamese businesses invested in 52 projects in Laos with total registered capital of 450 million USD.
Kinh Bac City Development said it may buy Saigon Telecommunication & Technology Corp. to improve telecommunications services within its industrial zones. Kinh Bac, a real estate and industrial zone developer in Bac Ninh province, is considering acquiring or merging with SaigonTel this year, Chief Accountant Tran Ngoc Diep said.
The acquisition plan requires shareholder approval, he said. Kinh Bac already owns about 19% of SaigonTel, according to Diep. The phone company rose 3% to close at VND27,300 on the Ho Chi Minh Stock Exchange Tuesday. The stock lost 67% of its value last year, giving it a market value of VND1.6 trillion (US$91 million).
The domestic garments and textiles sector has targeted to earn US$9.2-9.5 billion from exports in 2009, up 5% against 2008. In order to achieve the target, the sector has worked out measures including strengthening the apparatus of the Vietnam garments and textiles group, increasing productivity, developing human resources, boosting investment in to selected projects of effectiveness, accelerating trade promotion activities and expanding export markets in the Middle East, Eastern Europe and Africa. 2009 has been forecast to be a year of continued great difficulties for the sector due to the global economic recession and competition pressure from Chinese products. In 2008, the garments and textiles sector grew by 18% and earned US$9.1 billion from exports.
Vietnamese dairy farmers have filed a civil suit seeking compensation from the health ministry for erroneously saying the company they supplied sold melamine-laced products. Nearly 100 farmers in the northern province of Vinh Phuc said they were unable to sell their milk for three months after the health ministry announced that Hanoi Milk Joint Stock Co.'s products were tainted by the industrial chemical, the Vietnam News reported on Wednesday. The ministry recently said the company's products were in fact melamine-free, but the farmers said their situation had not improved. Hanoi Milk, Vietnam's third largest dairy product company, has reported that its revenue fell 70% in September due to the melamine scare.
Vietnam’s optimistic economic outlook ranks 7th amongst 36 countries and territories, said Grant Thornton International Ltd on January 5. The Grant Thornton International Business Report shows optimism in Vietnam to have fallen from +87 to +31, but as major world economies enter into recession, Vietnam remains one of the most optimistic countries in the world. Their macro view of the world economic stage explains the overall slump in optimism, but while privately held businesses are preparing for a prolonged and painful downturn, those in the emerging economies realize that at their own micro level it could offer real opportunities," said Kenneth Atkinson, Managing Partner of Grant Thornton Vietnam
Vietnam's central bank set the dollar's exchange rate lower at VND16,970 Thursday. The state-owned Vietcombank sold lower at VND17,479, compared with VND17,481 Wednesday. Gold shops sold flat at VND17,540. Dealers said they expect the exchange rate to rise toward the weekend on rising demand for the dollar.
A Hanoi court is believed to sentence two Malaysians - Tan Wei Hong, 26, and Cham Tack Choi, 23, to seven years in prison on Wednesday on charges of using fake credit cards. The two Malaysians were arrested on Dec. 21, 2007 when they went on a shopping spree at the Louis Vuitton fashion shop in Hoan Kiem district Hong later admitted to the police that he had visited Vietnam on three occasions and used fake credit cards to pay for 293 million VND (US$17,000) worth of goods. Meanwhile Choi had made two visits to Vietnam for the same purpose and had used fake cards to rack up more than 275 million VND (US$16,200) in goods.
The Advertising Research and Training Institute of Vietnam (ARTI Vietnam) and the Institute for Advertising of Singapore (IAS) will cooperate in training personnel for Vietnam’s fledging advertising sector. The two sides will ink a cooperation deal in Ho Chi Minh City on Jan. 9. On the occasion, ARTI Vietnam, which was officially set up in Sept. 2008, will grant certificates for its first graduates.
The Ministry of Planning and Investment (MoPI) has submitted to the Prime Minister for approval a 1 billion USD project to build a golf course, five-star hotels and hostels in Vientiane, Laos. If approved, it will be Vietnam’s ever largest investment project abroad. The project’s investor, Long Thanh Golf Investment and Business Joint Stock Company, said it plans to mobilize capital from share holders, domestic and foreign partners and bank loans. According to the MoPI, Vietnam is the largest foreign investor in Laos with 146 projects worth 1.5 billion USD. In the first 11 months of 2008, Vietnamese businesses invested in 52 projects in Laos with total registered capital of 450 million USD.
Kinh Bac City Development said it may buy Saigon Telecommunication & Technology Corp. to improve telecommunications services within its industrial zones. Kinh Bac, a real estate and industrial zone developer in Bac Ninh province, is considering acquiring or merging with SaigonTel this year, Chief Accountant Tran Ngoc Diep said.
The acquisition plan requires shareholder approval, he said. Kinh Bac already owns about 19% of SaigonTel, according to Diep. The phone company rose 3% to close at VND27,300 on the Ho Chi Minh Stock Exchange Tuesday. The stock lost 67% of its value last year, giving it a market value of VND1.6 trillion (US$91 million).
Wednesday, February 18, 2009
2009 NIGERIAN IMPORT/EXPORT AND FRANCHISE BUSINESS OPPORTUNITIES CONFERENCE!
ULTIMATE WEALTH EMPOWERMENT SEMINARS SERIES,In conjunction with,VIETNAMESE EMBASSY TRADE OFFICE in Nigeria and PISKOYE NIGERIA LTD & Partners, sole franchise right holders, to promote and market Vietnamese business and investment opportunities window to Nigerians, Presents a one day conference in major Nigerian cities, titled,
EXPLORING BUSINESS AND INVESTMENT OPPORTUNITIES IN VIETNAM: The Emerging Asian Super ‘Tiger’.
The Vietnamese Embassy Trade Office in Nigeria is pleased to inform Nigerians that the Vietnamese Government is interested in doing business with Nigeria. In order to achieve this laudable objective, the office of the commercial counselor in charge of trade and business promotions was established in Nigeria in 2006. The main aim for setting up this office is to encourage and promote businesses and entrepreneurial opportunities between Nigeria and their Vietnamese counterparts so that they can partner in diverse areas of their business interests.
There are numerous opportunities in the Import/Export business industry especially for small, medium and large scale investors.
Export Business opportunities:
The good news to Nigerians is that, a lot of Vietnamese manufacturing companies are in need of Nigerians to supply them with raw materials such as Cashew nut, sesame seed, cotton-wool, wood, Kola-nut, bitter-cola, cattle horns & honey, precious stones, iron ore, minerals and lots more. This is an open Invitation to Nigerians who have access to any of these products to come to the seminar venue and meet with the Vietnamese Government Representatives.
Import Business Opportunities:
Vietnam has a wide range of products ranging from mobile phones and accessories, Medical & Gym Equipments, Automobile Products with spare parts, all kinds of Electronics, Computers and Laptops with accessories ( DVDs, Cd’s, TVs, Antennas, Video Game, Air-Conditioners, Home Theatre), Books, Banking and Security Products, Kitchen Utensils (micro-waves, Refrigerators, Freezers, Toasters, Blenders, Juice-extractors, ice-cream makers, slicing-machine, grillers, Gas-cookers, Electric-oven, Electric-kettles,)
Also Motorcycles, Generators, Cosmetics, Jewelleries, Trucks, Agricultural, Industrial and Engineering Equipments, Home and Office Furniture, Tricycle and Bicycles, Printing Machines, Mobile Toilets, Digital Cameras, Camcorders, Building Materials, Office Machines (Copier Machines, Paper Printers, Spiral Binding Machine, Fax machine) Soap Dispenser, Water Dispenser, Fashion and General Accessories/ Spare Parts.
And Lots More.
Individual & corporate bodies who may be interested in importing from Vietnam should take advantage of this golden opportunity and profit.
BENEFITS FOR ATTENDEES:
Assistance on how to travel to Vietnam.
Physical visitation and free consultancy with the Vietnamese (embassy) trade office in Nigeria.
Opportunities for individuals and corporate bodies to attend international trade shows, exhibitions, and expos in Vietnam.
Access to product Manufacturers in Vietnam (Import).
List of the ten fastest selling products will be revealed.
Opportunities to be a sales representative to Vietnamese companies in Nigeria.
Access to buyers of Nigerian exportable products in Vietnam (Export)
Free support on verification of Vietnamese manufacturers and their offers
The head of Vietnamese trade office and commercial counselor in Nigeria gave the assurance that only good quality products ‘‘certified by the Vietnamese products high quality Trade mark’’ will be sold to Nigerians.
Email alert of business opportunities in Vietnam.
General Information on feeding, Accommodation & flight will be provided.
Cd’s and catalogues of Vietnamese Products will be given on request.
List of Nigerian import and export prohibits (contra bound) will be given to attendees.
Our company in collaboration with the Vietnamese (embassy) trade office will give you all the support you need to succeed in this business.
And lots more
WHO SHOULD ATTEND?
Individuals and corporate bodies that are interested in small, medium & large scale import-export and franchise business opportunities.
Market/Trade unions should take advantage of this opportunity by encouraging and enlightening their members to diversify and take early positions in this emerging market – THE NEW WORLD DESTINATION IN ASIA, just like what happened in China some years back.
Group attendance by trade associations like the Importers Council of Nigeria, major market/traders unions in seminars cities will attract special discount for 'group registration of members'. Executives of such bodies should call PIUS on 08025564948 for friendly partnership/collaborative terms.
RESOURCE PERSONS IN ATTENDANCE:
Mr. Pam Vong Cong, Head and Commercial Counselor of the Vietnamese Embassy Trade Office in Nigeria.
Mr. Le Hong Quang and other delegates of the trade office will be physically present at this conference.
Mr. Emmanuel Excel Ogbeide, CEO. Business Builders Nig. Ltd.
Mr. Okoye Okechukwu Pius, President, Ultimate Wealth Empowerment Seminars Series, CEO, Piskoye Nig. Ltd.
NATIONWIDE CONFERENCES: CITIES AND DATES.
ONITSHA-MARCH, 7TH, 2009.
LAGOS-MARCH, 20TH, 2009.
ABUJA-APRIL, 3TH, 2009.
ABA-APRIL, 18TH, 2009.
KANO-MAY,2nd, 2009
CALABER-MAY,16TH 2009
P’HARCOURT-MAY,29TH,2009
TIME: 11am – 3.30pm
REGISTRATION TIME: 10am
SEMINAR REGISTRATION FEE: N20, 000.00
PAYMENTS @ BANKS BRANCHES NATIONWIDE, BELOW,
UBA NIG. PLC,
A/C NAME: PISKOYE NIG. LTD.
A/C NOS.: 01150030003401,
And also,
FIRST BANK NIG. PLC,
A/C NAME: PISKOYE NIG. LTD.
A/C NO: 5152030002233
After Payment Send An SMS, “I Have Paid, Reserve My Vietnam Seat “stating, full names/phone/teller nos. & city of choice to 08025564948 or email to ultimatewealthmastermind@gmail.com.
Please come to venue with payment teller for registration!
FOR FURTHER ENQUIRIES:
Send SMS “I must attend, reserve my seat” stating full names, active phone/gsm numbers, city of choice, functional email address to 08025564948, 08078682111 and 08079909008
EXPLORING BUSINESS AND INVESTMENT OPPORTUNITIES IN VIETNAM: The Emerging Asian Super ‘Tiger’.
The Vietnamese Embassy Trade Office in Nigeria is pleased to inform Nigerians that the Vietnamese Government is interested in doing business with Nigeria. In order to achieve this laudable objective, the office of the commercial counselor in charge of trade and business promotions was established in Nigeria in 2006. The main aim for setting up this office is to encourage and promote businesses and entrepreneurial opportunities between Nigeria and their Vietnamese counterparts so that they can partner in diverse areas of their business interests.
There are numerous opportunities in the Import/Export business industry especially for small, medium and large scale investors.
Export Business opportunities:
The good news to Nigerians is that, a lot of Vietnamese manufacturing companies are in need of Nigerians to supply them with raw materials such as Cashew nut, sesame seed, cotton-wool, wood, Kola-nut, bitter-cola, cattle horns & honey, precious stones, iron ore, minerals and lots more. This is an open Invitation to Nigerians who have access to any of these products to come to the seminar venue and meet with the Vietnamese Government Representatives.
Import Business Opportunities:
Vietnam has a wide range of products ranging from mobile phones and accessories, Medical & Gym Equipments, Automobile Products with spare parts, all kinds of Electronics, Computers and Laptops with accessories ( DVDs, Cd’s, TVs, Antennas, Video Game, Air-Conditioners, Home Theatre), Books, Banking and Security Products, Kitchen Utensils (micro-waves, Refrigerators, Freezers, Toasters, Blenders, Juice-extractors, ice-cream makers, slicing-machine, grillers, Gas-cookers, Electric-oven, Electric-kettles,)
Also Motorcycles, Generators, Cosmetics, Jewelleries, Trucks, Agricultural, Industrial and Engineering Equipments, Home and Office Furniture, Tricycle and Bicycles, Printing Machines, Mobile Toilets, Digital Cameras, Camcorders, Building Materials, Office Machines (Copier Machines, Paper Printers, Spiral Binding Machine, Fax machine) Soap Dispenser, Water Dispenser, Fashion and General Accessories/ Spare Parts.
And Lots More.
Individual & corporate bodies who may be interested in importing from Vietnam should take advantage of this golden opportunity and profit.
BENEFITS FOR ATTENDEES:
Assistance on how to travel to Vietnam.
Physical visitation and free consultancy with the Vietnamese (embassy) trade office in Nigeria.
Opportunities for individuals and corporate bodies to attend international trade shows, exhibitions, and expos in Vietnam.
Access to product Manufacturers in Vietnam (Import).
List of the ten fastest selling products will be revealed.
Opportunities to be a sales representative to Vietnamese companies in Nigeria.
Access to buyers of Nigerian exportable products in Vietnam (Export)
Free support on verification of Vietnamese manufacturers and their offers
The head of Vietnamese trade office and commercial counselor in Nigeria gave the assurance that only good quality products ‘‘certified by the Vietnamese products high quality Trade mark’’ will be sold to Nigerians.
Email alert of business opportunities in Vietnam.
General Information on feeding, Accommodation & flight will be provided.
Cd’s and catalogues of Vietnamese Products will be given on request.
List of Nigerian import and export prohibits (contra bound) will be given to attendees.
Our company in collaboration with the Vietnamese (embassy) trade office will give you all the support you need to succeed in this business.
And lots more
WHO SHOULD ATTEND?
Individuals and corporate bodies that are interested in small, medium & large scale import-export and franchise business opportunities.
Market/Trade unions should take advantage of this opportunity by encouraging and enlightening their members to diversify and take early positions in this emerging market – THE NEW WORLD DESTINATION IN ASIA, just like what happened in China some years back.
Group attendance by trade associations like the Importers Council of Nigeria, major market/traders unions in seminars cities will attract special discount for 'group registration of members'. Executives of such bodies should call PIUS on 08025564948 for friendly partnership/collaborative terms.
RESOURCE PERSONS IN ATTENDANCE:
Mr. Pam Vong Cong, Head and Commercial Counselor of the Vietnamese Embassy Trade Office in Nigeria.
Mr. Le Hong Quang and other delegates of the trade office will be physically present at this conference.
Mr. Emmanuel Excel Ogbeide, CEO. Business Builders Nig. Ltd.
Mr. Okoye Okechukwu Pius, President, Ultimate Wealth Empowerment Seminars Series, CEO, Piskoye Nig. Ltd.
NATIONWIDE CONFERENCES: CITIES AND DATES.
ONITSHA-MARCH, 7TH, 2009.
LAGOS-MARCH, 20TH, 2009.
ABUJA-APRIL, 3TH, 2009.
ABA-APRIL, 18TH, 2009.
KANO-MAY,2nd, 2009
CALABER-MAY,16TH 2009
P’HARCOURT-MAY,29TH,2009
TIME: 11am – 3.30pm
REGISTRATION TIME: 10am
SEMINAR REGISTRATION FEE: N20, 000.00
PAYMENTS @ BANKS BRANCHES NATIONWIDE, BELOW,
UBA NIG. PLC,
A/C NAME: PISKOYE NIG. LTD.
A/C NOS.: 01150030003401,
And also,
FIRST BANK NIG. PLC,
A/C NAME: PISKOYE NIG. LTD.
A/C NO: 5152030002233
After Payment Send An SMS, “I Have Paid, Reserve My Vietnam Seat “stating, full names/phone/teller nos. & city of choice to 08025564948 or email to ultimatewealthmastermind@gmail.com.
Please come to venue with payment teller for registration!
FOR FURTHER ENQUIRIES:
Send SMS “I must attend, reserve my seat” stating full names, active phone/gsm numbers, city of choice, functional email address to 08025564948, 08078682111 and 08079909008
Vietnam: The Land Of Opportunity Awaiting To Be Tapped By Savvy Investors And Business!
Vietnam is one of the fastest growing in the Southeast Asian region with the GDP growth coming in at 8.4% in 2006, according to the International Monetary Fund. The country has recently become the 150th member of the World Trade Organization. The investment bank Citigroup has also hailed it as "the new powerhouse of southeast Asia".
The investment opportunities in this country are tremendous. With a dynamic, hardworking population of over 80 million, Vietnam is an attractive location for investors as manufacturing workers here are the cheapest in the world.
The country needs almost everything. A fundamental renovation of the infrastructure. The rapid development of the power industry. The modernization of all its airports. The development of its enormous tourist potential. Bridges, ports, railways, irrigation systems, waste disposal and effluent control, city transport, telecommunications, services of all descriptions. The list is endless.
The stock-market was created in July 2000 with a daily trading volume of about $50m. This is relatively small in scale in comparison with other countries in the region. But 70 large state-owned companies are set to list by 2010 and analyst say the total value of listed shares could rocket to around $20bn to $45bn by the end of 2007.
The command economic system has become history. The Money Week said deregulation, political and religious stability and a growing middleclass all add up to a very attractive investment story. American giants like Intel and Nike has been committing more and more resources to the country, aiming to expand their influences in the southeast Asian region.
As Merrill Lynch regional strategist pointed out Vietnam is a "10-year buy", the new Asian "Tiger" is now ready to take off.
ECONOMY
Vietnam is a densely-populated developing country that in the last 30 years has had to recover from the ravages of war, the loss of financial support from the old Soviet Bloc, and the rigidities of a centrally-planned economy. Since 2001, Vietnamese authorities have reaffirmed their commitment to economic liberalization and international integration. They have moved to implement the structural reforms needed to modernize the economy and to produce more competitive export-driven industries.
Vietnam's membership in the ASEAN Free Trade Area (AFTA) and entry into force of the US-Vietnam Bilateral Trade Agreement in December 2001 have led to even more rapid changes in Vietnam's trade and economic regime. Vietnam's exports to the US increased 900% from 2001 to 2007.
Vietnam joined the WTO in January 2007 following over a decade long negotiation process. WTO membership has provided Vietnam an anchor to the global market and reinforced the domestic economic reform process. Among other benefits, accession allows Vietnam to take advantage of the phase-out of the Agreement on Textiles and Clothing, which eliminated quotas on textiles and clothing for WTO partners on 1 January 2005.
Agriculture's share of economic output has continued to shrink from about 25% in 2000 to less than 20% in 2008. Deep poverty has declined significantly and is now smaller than that of China, India, and the Philippines. Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one-and-a-half million people every year.
The global financial crisis, however, will constrain Vietnam's ability to create jobs and further reduce poverty. As global growth sharply drops in 2009, Vietnam's export-oriented economy - exports were 68% of GDP in 2007 - will suffer from lower exports, higher unemployment and corporate bankruptcies, and decreased foreign investment. Real GDP growth for 2009 could fall between 4% and 5%. Inflation, which reached nearly 25% in 2008, will likely moderate to single digits in 2009.
THE VIETNAMESE?
The conquest of Vietnam by France began in 1858 and was completed by 1884. It became part of French Indochina in 1887. Vietnam declared independence after World War II, but France continued to rule until its 1954 defeat by Communist forces under Ho Chi MINH.
Under the Geneva Accords of 1954, Vietnam was divided into the Communist North and anti-Communist South. US economic and military aid to South Vietnam grew through the 1960s in an attempt to bolster the government, but US armed forces were withdrawn following a cease-fire agreement in 1973.
Two years later, North Vietnamese forces overran the South reuniting the country under Communist rule. Despite the return of peace, for over a decade the country experienced little economic growth because of conservative leadership policies.
However, since the enactment of Vietnam's "doi moi" (renovation) policy in 1986, Vietnamese authorities have committed to increased economic liberalization and enacted structural reforms needed to modernize the economy and to produce more competitive, export-driven industries.
The country continues to experience protests from various groups - such as the Protestant Montagnard ethnic minority population of the Central Highlands and the Hoa Hao Buddhists in southern Vietnam over religious persecution. Montagnard grievances also include the loss of land to Vietnamese settlers.
-OKOYE O. PIUS
http://ultimateinternetmarketingedge.blogspot.com
http://ultimateinvestorsedge.blogspot.com
www.ultimatewealthseminars.com
The investment opportunities in this country are tremendous. With a dynamic, hardworking population of over 80 million, Vietnam is an attractive location for investors as manufacturing workers here are the cheapest in the world.
The country needs almost everything. A fundamental renovation of the infrastructure. The rapid development of the power industry. The modernization of all its airports. The development of its enormous tourist potential. Bridges, ports, railways, irrigation systems, waste disposal and effluent control, city transport, telecommunications, services of all descriptions. The list is endless.
The stock-market was created in July 2000 with a daily trading volume of about $50m. This is relatively small in scale in comparison with other countries in the region. But 70 large state-owned companies are set to list by 2010 and analyst say the total value of listed shares could rocket to around $20bn to $45bn by the end of 2007.
The command economic system has become history. The Money Week said deregulation, political and religious stability and a growing middleclass all add up to a very attractive investment story. American giants like Intel and Nike has been committing more and more resources to the country, aiming to expand their influences in the southeast Asian region.
As Merrill Lynch regional strategist pointed out Vietnam is a "10-year buy", the new Asian "Tiger" is now ready to take off.
ECONOMY
Vietnam is a densely-populated developing country that in the last 30 years has had to recover from the ravages of war, the loss of financial support from the old Soviet Bloc, and the rigidities of a centrally-planned economy. Since 2001, Vietnamese authorities have reaffirmed their commitment to economic liberalization and international integration. They have moved to implement the structural reforms needed to modernize the economy and to produce more competitive export-driven industries.
Vietnam's membership in the ASEAN Free Trade Area (AFTA) and entry into force of the US-Vietnam Bilateral Trade Agreement in December 2001 have led to even more rapid changes in Vietnam's trade and economic regime. Vietnam's exports to the US increased 900% from 2001 to 2007.
Vietnam joined the WTO in January 2007 following over a decade long negotiation process. WTO membership has provided Vietnam an anchor to the global market and reinforced the domestic economic reform process. Among other benefits, accession allows Vietnam to take advantage of the phase-out of the Agreement on Textiles and Clothing, which eliminated quotas on textiles and clothing for WTO partners on 1 January 2005.
Agriculture's share of economic output has continued to shrink from about 25% in 2000 to less than 20% in 2008. Deep poverty has declined significantly and is now smaller than that of China, India, and the Philippines. Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one-and-a-half million people every year.
The global financial crisis, however, will constrain Vietnam's ability to create jobs and further reduce poverty. As global growth sharply drops in 2009, Vietnam's export-oriented economy - exports were 68% of GDP in 2007 - will suffer from lower exports, higher unemployment and corporate bankruptcies, and decreased foreign investment. Real GDP growth for 2009 could fall between 4% and 5%. Inflation, which reached nearly 25% in 2008, will likely moderate to single digits in 2009.
THE VIETNAMESE?
The conquest of Vietnam by France began in 1858 and was completed by 1884. It became part of French Indochina in 1887. Vietnam declared independence after World War II, but France continued to rule until its 1954 defeat by Communist forces under Ho Chi MINH.
Under the Geneva Accords of 1954, Vietnam was divided into the Communist North and anti-Communist South. US economic and military aid to South Vietnam grew through the 1960s in an attempt to bolster the government, but US armed forces were withdrawn following a cease-fire agreement in 1973.
Two years later, North Vietnamese forces overran the South reuniting the country under Communist rule. Despite the return of peace, for over a decade the country experienced little economic growth because of conservative leadership policies.
However, since the enactment of Vietnam's "doi moi" (renovation) policy in 1986, Vietnamese authorities have committed to increased economic liberalization and enacted structural reforms needed to modernize the economy and to produce more competitive, export-driven industries.
The country continues to experience protests from various groups - such as the Protestant Montagnard ethnic minority population of the Central Highlands and the Hoa Hao Buddhists in southern Vietnam over religious persecution. Montagnard grievances also include the loss of land to Vietnamese settlers.
-OKOYE O. PIUS
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Mr Pham Van Cong,The Head of Mission and Commercial Counsellor of Vietnam Trade Office in Nigeria,Mr Okoye O. Pius - Ceo, Piskoye Nig. Ltd, Mr Kingsley Chikezie,Sec. Gen., Importers Association of Nigeria And other members at a One day Importers Forum In Lagos.
Cross Section of Attendees Including Mr Pham Van Cong, Mr Okoye O. Pius at a One day Importers Forum organized by CBN's, Technical Committee on the Comprehensive Import supervision Scheme (CISS) in Lagos Nigeria