ADB provides US$300m loan to BIDV to support SMEs in Viet Nam The Asian Development Bank (ADB) and Joint Stock Commercial Bank for Investment and Development of Viet Nam (BIDV) signed a US$300 million loan agreement on Wednesday to support the growth and productivity of small and medium-sized enterprises (SMEs) in Viet Nam. “The agreement includes a $200 million loan provided by ADB and a $100 million loan arranged by ADB from 12 commercial lenders,” BIDV Chairman Phan Duc Tu said at the signing ceremony. “This is the biggest commercial loan ADB has provided to an Asian commercial bank so far, affirming the development finance institution’s positive evaluation of Viet Nam’s stability and economic growth as well as its trust in Viet Nam’s banking operations in general and BIDV in particular.” He said the loan would support SMEs in Viet Nam and reaffirm their partnership with ADB in achieving poverty reduction, economic … [Read more...] about BUSINESS NEWS IN BRIEF 14/12
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AEC broadens its effects on Vietnam
Pranoto Soenarto, director of Indonesian coffee company PT Asia Mina Sejahtera, flew from Jakarta to Hanoi last month, with only one goal in mind: seeking Vietnamese partners to co-operate with in its potential coffee projects. “We’re expanding production, and we need to seek more suppliers of input materials. Vietnam is our best market,” Soenarto said. PT Asia Mina Sejahtera is among 16 Indonesian coffee firms which recently came to Vietnam for the first time to look for Vietnamese suppliers. They include big brands like Harro Coffee Group, PT Sabani Internasional, Gabungan Perusahaan Petani Indonesia, and PT Pamora Coffee Indonesia. They met with several Vietnamese firms, including Me Trang Coffee, Minh Tien Coffee, IDD Vietnam, Cuong Anh Import-Export, and Hapro Distribution. A number of deals were agreed on, without details revealed. According to the Vietnam Coffee-Cocoa Association (Vicofa), Indonesian firms spent over $33 million importing coffee from Vietnam … [Read more...] about AEC broadens its effects on Vietnam
Supporting farmers sell watermelons is only a temporary solution
Farmers in the central provinces of Quảng Nam and Quảng Ngãi have been struggling to sell enough watermelons to turn a profit, as the price of the farm produce sharply dropped from VND7,000 (US$0.3) per kilo last month to VND1,000 (US$0.04) or VND1,200 ($0.05) per kilo in recent days. A farmer walks through a pile of harvested watermelon on a farm in Bình Sơn District of Quảng Ngãi Province - VNS Photo The decreased price has left nearly 5,000 tonnes of watermelon on farms in Phú Ninh District of Quảng Nam and Bình Sơn District of Quảng Ngãi – the two major localities with the largest watermelon farms in the central region. Some farmers in Quảng Nam Province had to sell water melons at VND500 (US$0.02), just to make a few cents and avoid cleaning up rotting water melon. Dương Văn Hòa, a farmer in Tam Phước Commune of Quảng Nam Province’s Phú Ninh … [Read more...] about Supporting farmers sell watermelons is only a temporary solution
Mass water melon unsold at farms in central region
Viet Nam News QUẢNG NAM — Farmers in the central provinces of Quảng Nam and Quảng Ngãi have been struggling to sell enough watermelons to turn a profit, as the price of the farm produce sharply dropped from VNĐ7,000 (US$0.3) per kilo last month to VNĐ1,000 ($0.04) or VNĐ1,200 ($0.05) per kilo in recent days. The decreased price has left nearly 5,000 tonnes of watermelon on farms in Phú Ninh District of Quảng Nam and Bình Sơn District of Quảng Ngãi – the two major localities with the largest watermelon farms in the central region. Some farmers in Quảng Nam Province had to sell water melons at VNĐ500 ($0.02), just to make a few cents and avoid cleaning up rotting water melon. Dương Văn Hòa, a farmer in Tam Phước Commune of Quảng Nam Province’s Phú Ninh District, said traders rushed to buy watermelon but only paid VNĐ1,300 or … [Read more...] about Mass water melon unsold at farms in central region
Vietnamese farm owner shines in Russian region
Tran Ngoc Tuan is the Chairman of the Vietnamese Association in the Bashkortostan Republic (Photo: Anh Tu - Thanh Phuong/ VOV) Tran Ngoc Tuan has lived in Bashkortostan for nearly 30 years. An experienced investor in commercial centers and industrial production, Tuan decided to pour his money in agricultural cultivation. Tuan was born in Thai Binh province, the granary of North Vietnam, and for him, agriculture is important: “I set up a farm in Bashkortostan 3 years ago, out of a great interest in agriculture. My 700-hectare farm is mainly used for growing wheat, breeding cows, sheep, and horses, producing organic agricultural products”. Tuan manages to grow vegetables and breed cattle despite freezing weather. His farm has a heated water system and the cattle are fed with clean food. Tuan’s farm produce is certified as organic by the State Committee of the Republic of Bashkortostan on Trade and Consumer Protection. The farm receives a lot of orders from the … [Read more...] about Vietnamese farm owner shines in Russian region