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Rice export hits record high of 6 million tonnes   2009-12-29 - VietNamNet/VNA


Vietnam’s rice export reached twenty-year record high till the end of December this year, said the Vietnam Food Association (VFA).

The nation exported six million tonnes of rice in 2009, earning over 2.4 billion USD. The export volume saw a year-on-year increase of 28 percent, exceeding the set target of one million tonne. The VFA was quoted by the Sai Gon Giai Phong newspaper as saying.

Currently, rice harvested in the autumn-winter crop in Mekong Delta provinces is sold at prices ramping from 5,800-5,900 VND/kg to 7,550-7,650 VND/kg.

Vietnam’s main rice importers are Indonesia, the Philippines, Cuba and Iraq.

Retail turnover surges 18.6 percent in 2009

Total retail sales this year are estimated to reach 1,197 trillion VND (64.8 billion VND), up 18.6 percent over last year, an impressive growth in the context of economic downturn, according to the Ministry of Industry and Trade.

Total retail sales of goods and services in December reached 120.56 trillion VND (6.5 million USD), an increase of 4.2 percent over the previous month, according to the ministry.

Experts attributed the increase to a series of consumption stimulus measures taken by the Government and the enterprises.

Bank to let loose 60 million share issue

Vietnam International Bank has been given permission to issue 60 million shares to existing stockholders to raise its charter capital to 3 trillion VND ( 157 million USD) from 2.4 trillion VND (126 million USD).

The individual face value of the shares will be 10,000 VND.

FPT Securities will act as consultant for the issuance, which will be traded from February 10.

The Hanoi-based bank on December 25 paid a 13.2 percent dividend for 2009.

In October, the bank announced that it planned to raise its charter capital to 4 trillion VND (210 million USD) by the end of the year. VIB did not explain why it had changed its plans.

Up until the end of the third quarter, VIB earned 496 billion VND ( 20.11 million USD) in pretax profit – twice that of the same period last year. It has also exceeded its revenue plan for the whole year.

Total deposits reached 44 trillion VND (2.3 billion USD), up 38 percent on the same period last year. Total outstanding loans were 25.5 trillion VND ( 1.3 billion USD), up 29 percent on the same period last year.

The bank’s bad debt ratio was under 1.5 percent.

Vietnam produces 60 aquatic varieties

Vietnam has owned technologies of producing varieties of over 60 key export aquatic species, according to the Ministry of Science and Technology.

They include tra and basa fish, sugpo prawn, white-leg shrimp, unisexual tilapia and two-shell mollusc.

Many rare species of seafood such as Pacific oyster, sea crab, sweet snail, Siamese giant carp (or Satlocarpio siamensis), Anh Vu fish (or Semilabeo Obscous) and sea ornamental fish have been successfully produced.

To date, local research and breeding establishments have produced 40 billion shrimps 20 billion fish and 20 million crabs and sweet snails for breeding per year.

Almost 70 trillion VND for agricultural development

Prime Minister Nguyen Tan Dung has approved a project worth 69.9 trillion VND (3.8 billion USD) to develop plant, livestock and aquatic varieties from now until 2020.

A large part of the sum will be used to develop high-yield varieties of rice, fruit trees, vegetables, coffee trees, tiger prawns and basa catfish in a bid to improve competitiveness of their products, thus increasing value of exports.

The project will also produce hybrid maize, rice, sugarcane and poultry varieties to replace imported ones, according to a Prime Minister decision.

All economic sectors both in and outside the country will be encouraged to participate in the project, the decision stated.

Rubber company receives licence for Laos project

Ha Tinh Rubber Company of Vietnam has been licensed to invest in a project planting rubber trees on 600 ha in Borikhamsay province of Laos.

The company has also signed a memorandum of understanding with the province’s youth union to carry out the project.

Under the memorandum, the investor will provide technique for plantation of rubber trees and exploitation of rubber latex to local workers.

The project is scheduled to start in April 2010.

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