A merger reduces the number of firms in a product market

Illustrative image (Photo: laodong.vn) Hanoi (VNA) - Although the aquaculture industry have been facing many challenges, it continues to receive support from the Government, Director in charge of communications of the Vietnam Association of Seafood Exporters and Producers ( VASEP ) Le Hang told Lao dong newspaper. According to Hang, the Prime Minister has demanded the State Bank of Vietnam effectively manage credit operations to ensure the suitable provision of credit capital, and continue to reduce interest rates to support businesses, especially those in aquatic export . The bank has been required to implement supportive and preferential policies, including proposing a credit package worth 10,000 billion VND (over 425.4 million USD) to support businesses operating in forestry and aquatic production and processing industries. Credit programmes should be prioritised for the fisheries sector, towards creating favourable conditions for businesses involved in the … [Read more...] about Government support helps aquaculture industry weather difficulties

CUPERTINO, California - Apple on Monday unveiled a costly augmented-reality headset called the Vision Pro in its riskiest bet since the introduction of the iPhone more than a decade ago, barging into a market dominated by Meta. At its annual developer conference, Apple also introduced a raft of new products and features, including a 15-inch MacBook Air, a powerful chip called M2 Ultra, improvements to its iOS software and a long-awaited tweak to prevent its autocorrect from annoyingly changing a common expletive to "ducking". The Vision Pro will start at $3,499, more than three times the cost of the priciest headset in Meta's line of mixed and virtual reality devices. The headset will test a market crowded with devices that have yet to gain traction with consumers and put it in direct competition with Facebook-owner Meta after years of clashes between the companies over issues like user privacy and control of developer platforms. Apple emphasized the novelty of the headset's … [Read more...] about Apple to sell Vision Pro AR headset for triple Meta’s top-line price

The fifth plenary session of the 15th National Assembly has discussed and approved a number of important draft bills, including three new amendments to regulations that have significant impacts on the tourism industry in Vietnam. These policies are expected to boost the recovery and development of the tourism sector. Martin Koerner - Chairman EuroCham Vietnam’s Tourism and Hospitality Sector Committee The first law is to extend the visa exemption duration from the current 15 days to 45 days for citizens of countries that currently can travel to Vietnam visa exempt, including France, Germany, Italy, Spain, the UK, Japan, South Korea, Norway, Finland, Denmark, and Sweden. This law aims to attract more tourists from these key markets and encourage them to stay longer and spend more here. The second law is to expand the list of countries eligible for e-visa from 46 to 80, including markets such as India, Brazil, Mexico, and Argentina. The e-visa allows visitors to apply … [Read more...] about The future of tourism in Vietnam new visa policies and beyond

Asia’s increased borrowing in recent decades has augmented the region’s exposure to rising interest rates and heightened market volatility, said the International Monetary Fund (IMF). According to the IMF’s latest report on May 25, over 18 per cent of Vietnamese enterprises were found to have an interest coverage ratio (ICR) below one, indicating a high risk of default as of June 2022. Additionally, 18.32 per cent of companies had an ICR between 1-4, making them vulnerable to increased borrowing costs, while 63.36 per cent had an ICR of four, signalling a good debt repayment capacity. The report attributes the heightened risks to the rising cost of borrowing, as central banks tighten monetary policies and increase interest rates to combat inflation. Despite maintaining growth rates, companies face significant pressure due to higher borrowing costs, reducing their ability to repay debts. As of mid-2022, 17 per cent of Asia’s corporate debt was held by firms with interest … [Read more...] about IMF highlights rising debt risks for Asian companies

Currently, land rents in IPs in Vietnam are roughly 20 per cent less than in Thailand and Indonesia, according to Vu Minh Chi, senior manager of Industrial Services at Colliers Vietnam. "The reason is the quality and diversity of this market is inadequate," remarked Chi. Land tax has been reduced by 30 per cent this year, and it is proposed that the VAT rate be reduced to 8 per cent to support production enterprises. All showcase the appealing qualities of industrial real estate in Vietnam. Vietnam is still considered an attractive investment destination. According to the Foreign Investment Agency, the total registered foreign investment capital in Vietnam reached nearly $8.88 billion in April, representing an increase of 82.1 per cent on-year. The figure includes750 new projects receiving investment registration certificates, with a total registered capital of more than $4.1 billion. In addition, 386 projects were registered to modify investment capital, an increase of 19.5 per … [Read more...] about Vietnam’s industrial rents are rising swiftly

Illustrative photo (Photo: Breeding Magazine) Hanoi (VNA) – Vietnam spent 2.04 billion USD to import animal feed and raw material s for the production of this kind of commodity in the first five months of this year, according to the Ministry of Agriculture and Rural Development (MARD). The figure marks a year-on-year decrease of 2%. Animal feed and raw materials from Argentina to Vietnam accounted for 25.8% of the total market shares, followed by India (18.3%) and the US (15.2%). Compared to the same period last year, the imports from the three countries increased by 3.9%, 130%, and 28.3%, respectively. MARD recommends that to reduce reliance on imported animal feed, farmers in localities should make use of available domestic raw materials, produce animal feed by themselves to reduce cost, and find sources of raw materials for animal feed production. Ministries and agencies were asked to tighten control over the import of meat and by-products, support importers … [Read more...] about Vietnam spends over 2 billion USD on animal feed, material imports in 5 months

At a conference on solutions to develop and promote investment in real estate for agricultural tourism in Vietnam on May 25 in Hanoi, an action programme was discussed to create motivation for agro-tourism and rural development. Legal synchronisation can unlock agro-tourism potential Organised by the Vietnam National Administration of Tourism and the Vietnam National Real Estate Association (VNREA), it was the first time that a large-scale event discussed such issues. Nguyen Van Khoi, chairman of VNREA, said that the development of agricultural tourism is gradually becoming a trend in rural areas, especially in agricultural economy countries like Vietnam. It not only benefits the industry but also contributes to increasing the value of the land, raising opportunities for economic development, and improving the lives of local people. “In order to increase the value of the land through the development of agricultural and rural tourism, a sustainable development … [Read more...] about Legal synchronisation can unlock agro-tourism potential

The figure marks a year-on-year decrease of 2%. Animal feed and raw materials from Argentina to Vietnam accounted for 25.8% of the total market shares, followed by India (18.3%) and the U.S. (15.2%). Compared to the same period last year, the imports from the three countries increased by 3.9%, 130%, and 28.3%, respectively. MARD recommends that to reduce reliance on imported animal feed, farmers in localities should make use of available domestic raw materials, produce animal feed by themselves to reduce cost, and find sources of raw materials for animal feed production. Ministries and agencies were asked to tighten control over the import of meat and by-products, support importers to reduce the costs of products, as well as create favorable conditions for the development of material zones for animal feed production. … [Read more...] about Vietnam spends over $2B on animal feed, material imports in 5 months

The most effective competitive advantage for Vietnam's economy is creating a favorable business investment environment free of legal barriers. Prime Minister Pham Minh Chinh has signed a decree to urge ministries and provinces/cities to boost administrative reforms and improve the investment environment to support local enterprises. Electronics production at Katolec Vietnam in Quang Minh Industrial Park, Hanoi. Photo: Pham Hung/The Hanoi Times "A conducive investment environment is a fundamental platform helping businesses operate smoothly and drive growth. This, in turn, promotes job creation and contributes to overall socio-economic development," said the decree. Vietnam has been trying to cut administrative regulations and compliance costs as part of its national digital transformation effort. As of May 2023, the country's total number of administrative procedures was 6,422, 376 fewer than the same period in 2020. This is expected to improve the … [Read more...] about PM urges greater efforts to accelerate administrative reforms

In early April, the Board of Directors at Nam Viet JSC, a seafood producer in the southern region, gave the nod to the decision on dissolving Nam Viet Real Estate Co., Ltd. This company, based in Long Xuyen city in the Mekong delta province of An Giang, was founded in March 2022 to operate in real estate. Real estate might not always prove a fertile venture At the inception, the company had $3.5 million in chartered capital, which was scaled down to around $391,300 in mid-June 2022 before terminating operation in the recent past. At the company’s 2022 general annual shareholders meeting in June, CEO Doan Toi told shareholders that the company owned land, and that they would unveil two real estate projects later in the year, and another two in 2023. Last year, Nam Viet set an ambitious pre-tax profit target of VND1 trillion ($43.4 million) compared to a mere $6.5 million pre-tax profit posted in 2021, and committed to maintaining its profit in the range of a … [Read more...] about Core business key as companies pull out of real estate