Cement consumption rises 30 percent

Cement consumption in the country posted a 30 percent year-on-year rise in January 2015, reaching 5.87 million tonnes. The latest figures from the Department of Building Materials under the Ministry of Construction showed that local cement consumption in the first month of the year was higher than those in the previous month and in the same period last year. Specifically, the consumption was 4.37 million tonnes, which is 6 percent and 47 percent higher than last December and January, respectively. Of the total, the Vietnam Cement Industry Corporation (VICEM) sold 1.41 million tonnes of cement in local markets, 46 percent higher than its sales in the corresponding period last year. In addition, the amount of cement exported was estimated at 1.5 million tonnes. The department said that the selling price of cement last month was more stable than its price last year, thanks to the balance in supply and demand of cement production and consumption. By the end of last month, the … [Read more...]

Major Thai investors make strong showing in Vietnam

Kan Trakulhoon - Chairman and CEO of SCG.

VietNamNet Bridge - Large Thai corporations have been gradually penetrating the Vietnamese market and acquiring many domestic enterprises in the last year. Billionaire Charoen Sirivadhanabhakdi. Billionaire Charoen Sirivadhanabhakdi, the third richest man in Thailand, with net assets of $11.3 billion, is head of BJC, the group that acquired Metro Cash & Carry Vietnam. Through the two subsidiaries of ThaiBev and TCC Assets, the billionaire acquired a 51% stake in the largest beverage company of Singapore - Fraser & Neave (F&N) in 2013. F&N’s subsidiary - F&N Dairy Investment - is the largest foreign shareholder of Vinamilk, Vietnam’s largest dairy company, with the ownership percentage of 9.5%. Shortly after BJC acquired Metro Vietnam, F&N spent nearly $100 million to purchase additional shares of Vinamilk to reach 11%. Currently the shares held by F&N are valued at $540 million. F&N has many other large investments in Vietnam, for … [Read more...]

Breakfast @ Tuoi Tre News – January 21

Politics    -- Vietnamese Prime Minister Nguyen Tan Dung on Tuesday met with Cardinal Fernando Filoni, Prefect of the Congregation for the Evangelization of Peoples, during his pastoral visit to Vietnam.    Society

Enjoy your breakfast while skimming through these news items in brief on Tuoi Tre News today, January 21, 2015. -- Police in Ho Chi Minh City’s District 1 said on Tuesday that they had arrested a 26-year-old woman, who works as a tutor for an international school based in the district, for attempting to blackmail the director of the school. -- The local government and related agencies in Phu Quy Island District in the south-central province of Binh Thuan on Tuesday morning received 12 crew members. Their boat’s engine failed on Friday last week when it was around 110 nautical miles from Phu Quy and was adrift until they were found and rescued on Monday. -- The Vietnam Expressway Corporation said at a Tuesday meeting that the Ho Chi Minh City-Long Thanh-Dau Giay Expressway, which is 55 kilometers long, will be open to traffic on February 8. -- An official in Thach Ha District in the central province of Ha Tinh has confirmed two three-year-old children drowned on … [Read more...]

Vietnam expects USD1 billion from cement export

Photo for illustration (Source: baoxaydung.com.vn)

Vietnam could rake in USD1 billion from exporting 20-21 million tonnes of cement and clinker in 2014, up 15 percent in value compared to last year, according to the Vietnam Cement Association. Preliminary statistics from the Customs General Department showed that the shipment of cement and clinker increased in both volume and value in January-October, reaching nearly 18 million tonnes. Major cement companies have reported positive results over the past time, with stable export volumes and many new markets. Tran Viet Thang, Director General of the Vietnam Cement Industry Corporation (Vicem), which holds 34 percent of the sector's output, said his company exported about 1.8 million tonnes of the products in the first three quarters of 2014 and plans to sell 1 million tonne in the last three months to raise its total exports to 3 million tonnes, meeting the yearly target set early this year. Last month, the Thang Long Cement JSC shipped 4,000 tonnes of cement to the Philippines . The … [Read more...]

Vietnam expects US$1 billion from cement export

Vietnam could rake in US$1 billion from exporting 20-21 million tonnes of cement and clinker in 2014, up 15% in value compared to last year, according to the Vietnam Cement Association. Preliminary statistics from the Customs General Department showed that the shipment of cement and clinker increased in both volume and value in January-October, reaching nearly 18 million tonnes. Major cement companies have reported positive results over the past time, with stable export volumes and many new markets. … [Read more...]

Vietnam expects 1 billion USD from cement export

Vietnam could rake in 1 billion USD from exporting 20-21 million tonnes of cement and clinker in 2014, up 15 percent in value compared to last year, according to the Vietnam Cement Association. Preliminary statistics from the Customs General Department showed that the shipment of cement and clinker increased in both volume and value in January-October, reaching nearly 18 million tonnes. Major cement companies have reported positive results over the past time, with stable export volumes and many new markets. … [Read more...]

Thai firms spot opportunities in Vietnam

The recent increase in investment flows from Thai enterprises has shown that Vietnam is vital for Thailand's economy, especially after the ASEAN Economic Community comes into effect in 2015. Recent information from the Thailand Board of Investment shows that the country's outward investment in ASEAN-member countries has undergone an upward trend since 2007, with last year's investment at 4.5 billion USD, equal to Thailand's investment in the EU. Most of the Thai investment in ASEAN was in Singapore, Indonesia, Vietnam and Myanmar, according to Chokedee Kaewsang, Deputy Secretary General of the Thailand Board of Investment. … [Read more...]

Economic restructuring brings opportunities to investors

Investment opportunities from the equitisation of state-owned enterprises (SOEs), the acquisition of bad debts and investment in the consumer goods and retail sectors are of great interest to experts and investors in the current context, said the Vietnam Economic News. The Vietnamese securities market is said to offer great potential compared with other Southeast Asian countries and the equitisation of SOEs has attracted great attention from domestic and foreign investment funds. So far, Vietnam has equitised 4,100 SOEs. Under the Prime Minister's guidance, 432 SOEs must be equitised in 2014 and 2015. These include the Vietnam National Textile and Garment Group (Vinatex), three corporations established under Prime Ministerial Decision 91/TTg (Vietnam Airlines Corporation, Vietnam Cement Industry Corporation and Vietnam National Shipping Lines (Vinalines), 54 corporations established pursuant to Prime Ministerial Decision 90/TTg, and SOEs managed by different ministries, sectors and … [Read more...]

Building materials industry urged to foster export activities

The domestic building materials industry should promote efficiency in the export of its products in the future because the domestic market has yet to fully recover from crisis, experts said. The Industry and Trade newspaper quoted the Ministry of Construction (MoC) as saying the export of building materials was needed to reduce the pressure of high inventory, maintain production stability and improve competitiveness in the world market. Leading exporters of building materials in Vietnam are pottery and ceramic producers, including Viglacera, Vinaconex and Hoang Gia, as well as Hong Ha, Taicera and Toto. They have been scouting for export markets by joining international trade fairs and exhibitions and have so far exported products to 40 countries and territories. … [Read more...]

Cement consumption bounces back

The domestic consumption of cement in the first eight months bounced back to a sustainable status, which is being seen a relief for producers with surplus inventories. Chairman of Vietnam Cement Association Nguyen Quang Cung told Thoi Bao Ngan Hang (Banking Times) newspaper, "Cement plants are likely to run at full throttle." Chairman of Vietnam Cement Industry Corporation (Vicem) Luong Quang Khai said that his company's inventory has dramatically fallen. As of August 31, the total inventory was equal to 14 production days. … [Read more...]

Government praises businesses for cost savings

Vietnam Airlines is one of the companies that were praised for cost savings by the Government.

Deputy Prime Minister Vu Van Ninh on Monday sent a dispatch praising some ministries and state-owned economic groups and corporations for well implementing the Prime Minister's instruction on management cost saving and cost price reduction in 2013. The commended Ministries include Finance, Industry and Trade, National Defense, Transport and Construction. … [Read more...]

Social News Headlines 10/7

Vietnam among top five nations with highest abortion rate A July 8 meeting in HCM City marking World Population Day announced that on a per capita basis, Vietnam has one of the five highest abortion rates in the world. Delegates at the event reported that Vietnam has the highest abortion rate in the Southeast Asian region, and its birth rate among adolescents aged 15-19 years is rather high (46/1,000). They pointed out that Ho Chi Minh City has the highest abortion rate in Vietnam, particularly among adolescents whose rate increases year by year, from 2% in 2010 to 4% in 2013. … [Read more...]

State-own enterprises urged to quicken equitisation

Hanoi, July 4 (VNA) - Some 135 State-own enterprises (SOEs) listed in the 2014-2015 equitisation plan are urged to set up their own steering committees to hasten the process of their equitisation. They are expected to declare their asset values by the end of the second quarter in 2015 and have their privatization plans approved by the third quarter of the year. As many as 432 SOEs have been planned for equitisation in 2014 and 2015. By June 20, 38 SOEs were privatized, two dissolved, 15 others merged and three announced bankruptcy, according to the Ministry of Finance. … [Read more...]

Nghe An cement manufacturer enjoys booming sales

The Vicem Hoang Mai Cement Joint Stock Company has sold 765,600 tonnes of cement on the domestic market since the beginning of 2014, equivalent to 113 percent of the year's plan. The sales of Hoang Mai cement have risen in many localities. The central province of Ha Tinh accounts for 58 percent of the market share of the firm and Nghe An province, 30 percent. The success has been attributed to the manufacturer's efforts in applying advanced technologies in production, adopting innovative sales activities and improving its management structure. These helped the firm maximise the capacity of its machines and equipment and cut down considerably on production costs. … [Read more...]

Textiles and cement top export list

illustration photo

Textiles and garments led the field in terms of this year's exports in the first four months. Figures from the Ministry of Industry and Trade (MoIT) showed that Vietnam's four-month export turnover reached $46 billion, up 16.9 per cent on-year. Vietnam's four-month export turnover rose $6.6 billion on-year, of which $4.7 billion - with the exception of crude oil - was created by foreign invested firms. … [Read more...]

Government holds off cement loans on concerns of oversupply

A worker runs a production line at Tan Quang Cement Manufacturing Factory in northern mountainous Tuyen Quang Province. The Government is not encouraging more investment in cement projects despite the industry reporting a first quarter increase in consumption. — VNS Photo Hoang Hung

HA NOI (VNS)— The Government is not encouraging more investment in cement projects despite the industry reporting a first quarter increase in consumption due to higher domestic market demand. Industry observers say this makes sense because the market is still marked by significant oversupply. Citing the Viet Nam Cement Industrial Corporation, the Price Management Department has reported that the output and consumption of cement in March was higher than February as the "construction season" has begun. An output of 5.19 million tonnes and consumption of 1.92 million tonnes marked a month-on-month increase of 63.7 per cent and 69.5 per cent respectively. Corresponding first quarter figures of 11.58 million tonnes and 10.23 million tonnes marked respective year-on-year increases of 9.8 per cent and 6.7 per cent, the department said. Meanwhile, the Dau tu (Vietnam Investment Review) newspaper, cited the Construction Ministry as estimating total demand for cement this year increasing … [Read more...]

SOE Restructuring: Slow Progress, Limited Results

The conference promoting the restructuring of state owned enterprises (SOEs) was organised on April 2, reviewing the restructuring of groups, corporations and banks of the Block of Central Enterprises from 2011 to present, and working out a specific plan for 2015. Speaking at the conference, Nguyen Van Ngoc, Permanent Deputy Secretary of the Block's Party Committee, said that currently, the Party Committee of the Block of Central Enterprises has 32 groups, corporations, and banks. In the period 2011 - 2015, there are 28 units which need a restructuring scheme. Up to now, all 28 units have completed building their restructuring scheme, in which 24 projects have been approved. Under the scheme, all 24 units are organised in the model of the parent company-subsidiary; including 15 parent companies the State holding 100 percent charter capital; 9 parent companies which need to conduct equitisation. So far there are 3 parent companies which have conducted equitisation including Bao Viet … [Read more...]

Hanoi Electromechanical Manufacturing JSC

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Hanoi Electromechanical Manufacturing JSC (HEM), a member of the Vietnam Electrical Equipment Joint Stock Corporation (VEC), Ministry of Industry and Trade was founded in 1961. Over the years, the company has continually invested in its production facility so it now has six workshops of mechanical engineering, assembling, repairing and manufacturing generators, which are built in an area of 5,000m2 in Tu Liem, Hanoi. All the workshops are equipped with a system of modern production lines imported from industrialized countries. Particularly, the company has machines of corrugating power transformer tanks with the largest capacity in Vietnam. The process of corrugating and hermetically sealing transformer tanks is automatically run and all products are strictly checked by advanced equipment at the company's test room. The company is the pioneer in manufacturing power transformers, single phase and three phase-10-10,000 KVA with voltage up to 35kV, reaching IEC-76 standards by … [Read more...]