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BUSINESS IN BRIEF 4/3   2010-03-04 - VietNamNet/VNA

New Vietnamese airline to be set up

 

 
Deputy Prime Minister Hoang Trung Hai has agreed a proposal by the national flag carrier Vietnam Airlines on the establishment of the VietAir Joint Stock Airline.

 

The Deputy PM asked Vietnam Airlines to consider the participation of the Vietnam Aircraft Leasing Company in VietAir to complete the project.

 

He also agreed in principle Vietnam Airlines’ involvement in several other forms of air transport.

 

Int’l manufacturing expo to open in Hanoi

 

More than 200 manufacturers from 20 countries will showcase their innovations, production methods and the latest technological services at an exhibition from May 20-22 in Hanoi.

 

Vietnam Manufacturing Expo 2010, which is seen as the largest manufacturing industry event in the first half of this year, is a combination of four smaller international exhibitions--“InterPlas Vietnam 2010”, “InterMold Vietnam 2010”, “Automotive Manufacturing Vietnam 2010,” and “Automation Vietnam 2010”--according to the Reed Tradex company, a leading exhibition organiser in Thailand and the Southeast Asian region.

 

The event will help equipment and machine providers seek potential manufacturing partners in such areas as mould making and automation. Several new fields such as safety and security will also be introduced at the event.

 

Before the opening ceremony, a forum entitled “Vietnam Manufacturing Expo and NEPCON Vietnam” will take place on March 18 to promote the manufacturing industry in Vietnam and help build stronger relationships among foreign and domestic partners.

 

Hanoi craft villages earn hundreds of billions of VND per year

 

Nearly 100 out of the 1,270 craft villages in Hanoi have posted revenues of between 10-50 billion VND per year--some even reaching the hundreds of billions.

 

Craft villages in Hanoi mainly operate in such industries as ceramics, garments, footwear, sculpture, embroidery, rattan-bamboo weaving, copper casting, jewellery, food processing and metallurgy.

 

In 2009, Hanoi ’s craft villages reached a combined production value of around 7 trillion VND, accounting for 10 percent of the city’s total industrial-handicraft production value.

 

The villages boasting the most impressive revenues included the Bat Trang Ceramics Village, with 283 billion VND; the La Phu Village – specialising in weaving and candy making, with 587 billion VND; and the Van Diem Carpentry Village, with 105 billion VND.

 

The villages now attract nearly 1 million labourers, making up over 42 percent of the total working in the city’s industrial-handicraft sector.

 

Hanoi has built programmes and projects to develop rural industries with a focus on restoring and developing traditional crafts and craft villages as well as seeking and expanding consumption markets in and outside the country.

 

The city has also issued a regulation on recognition of the “ Hanoi Traditional Craft Village ” and “Hanoi Artisan” titles in order to preserve and develop craft villages.

 

Positive outlook for Vietnam’s 2010 exports

 

Vietnamese exports are looking up this year, with many products seeing high growth and an increase in orders in the first two months.

 

Statistics released by the General Statistics Office show that garment exports raked in 1.5 billion USD in January and February - topping all other products in terms of value, and reflecting a 16.8 percent year-on-year increase.

 

Garments were followed by computers and electronics, with a year-on-year rise of 30.6 percent, then wood and wooden furniture, posting a 29.2 percent bump.

 

Many garment and textile exporters said that US and EU orders are up strongly. The Hung Yen Garment Joint Stock Company reported that its subordinate units have received orders for deliveries through the end of September.

 

The company is planning to operate a new production line in the near future to produce garments for export to Japan , taking advantage of tariff incentives offered by the Vietnam-Japan Economic Partnership Agreement.

 

Its export revenues are expected to reach 330 million USD in 2010, of which 65 percent will come from the US market, 20 percent from Japan , and 10 percent from the EU.

 

Handicraft enterprises have been favoured as well, receiving long-term orders from foreign partners.

 

Director of the Viet Tre (Bamboo) Company, Nguyen Ngoc Lien Hoa, said that since the beginning of this year, a number of businesses from Italy , Denmark and France have sought out her company’s products.

 

The Vietnam Handicraft Exporters’ Association said it plans to organise an exhibition in April to help local firms boost the sale of products both on domestic and overseas markets.

 

Vietnam ’s export revenue reached 56.6 billion USD in 2009, projected to hit almost 60 billion USD this year.

 

Aviation sector to grow by 15 percent

 

Vietnam’s aviation industry this year will grow by roughly 15 percent over last year, according to the Civil Aviation Administration of Vietnam (CAAV).

 

Previously, CAAV anticipated that the industry’s growth would be roughly more than 8 percent this year.

 

Head of the CAAV’s aviation transport division Vo Huy Cuong said that it had adjusted its forecast because a rebound in the global economy had been spotted.

 

Domestic and foreign airlines have so far also planned to increase flights to foreign markets.

 

With this year’s plans to receive an additional 16 new aircrafts, Vietnam Airlines expects to transport 11 million passengers, which is up 18 percent from the same period last year.

 

After officially opening its overseas representative office in France, the airline launched a direct route from Hanoi to Yangon on March 3 and plans to add nine new flights from Vietnam to Japan.

 

Jetstar Air Asia has also decided to increase its daily flights from eight to 14 on its SingaporeHCM City route starting in July.

 

Last year, the aviation industry grew by 8.4 percent over the previous year. The small increase was due to a decrease in foreign arrivals to the country in the wake of the global economic recession.

 

Despite the single-digit growth in passenger number and cargo volume, the performance of Vietnam’s aviation market remains encouraging. Last year, global airline companies had to cope with weak air travel demand, as a result of the global downturn and the H1N1 flu pandemic.

 

International medial quoted the Association of Asia-Pacific Airlines as saying that air travel in this region fell 5.7 percent in 2009, as its 17 member airlines flew 132.9 million passengers compared with the 140 million in 2008.

 

Petrolimex cuts down oil prices

 

The Vietnam National Petroleum Corporation (Petrolimex) has decided to slash its retail price of diesel by 300 VND per litre as of 7pm of March 3.

 

Retail price of kerosene was also reduced by 500 VND per litre and wholesale prices of 3S and 3.5S mazut fell by 300 VND per litre.

 

The price of petrol remains unchanged after the latest raise on Feb. 21.

 

At a press briefing on March 3, representatives of the Finance Ministry and Industry and Trade Ministry as well as major dealers said that the recent oil and petrol price adjustments were reasonable and transparent. They said the adjustment has taken into account possible effects on the market, preventing sudden changes in economic development and social consumption while still ensuring the interest of the State, enterprises and consumers.



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