* Vietnam may fail to achieve its goal of attracting at least US$15 billion of committed foreign direct investment this year amid a faltering global recovery and a domestic growth slowdown. "It will be very hard to meet the target," said Do Nhat Hoang, head of the Foreign Investment Agency at the Ministry of Planning and Investment. "We are facing domestic economic difficulties, fueled by unfavorable developments in global markets that have negatively impacted foreign investment this year," he told reporters in Hanoi on Wednesday. * Progress in free-trade talks between the European Union and Vietnam may trigger a resurgence of investment in the Southeast Asian nation from companies within the 27-nation bloc, the EU's top representative in Vietnam said. Early headway in negotiations would boost interest in Vietnam even before an accord is signed, Ambassador Franz Jessen, head of the European Union delegation to Vietnam, said in an interview. * Several banks are waiting for the … [Read more...] about News briefs
Sports ministry official absent at news briefing Tu Hoang and Lan Nhi By Tu Hoang and Lan Nhi - The Saigon Times Daily HANOI - A representative of the Ministry of Culture, Sports and Tourism did not show up at a news briefing held on April 1 after the Government's regular meeting as public concerns are mounting over a patchy plan to host the Asian Games 18 in 2019 (Asiad 18). The media asked so many questions about Asiad that Minister and Head of the Government Office Nguyen Van Nen called for a stoppage of discussion about this. Nen, however, said, "This morning the Prime Minister assigned the Minister of Culture, Sports and Tourism to report on the matter at a meeting slated for next week so that the Prime Minister can decide. "We can believe that the Prime Minister will certainly make an appropriate conclusion." At the Government meeting on April 1 morning, Prime Minister Nguyen Tan Dung reproached the sports ministry for failure to inform him of the Asiad hosting plan. "I … [Read more...] about Sports ministry official absent at news briefing
By Dr. Tung Bui, Faculty Director of Vietnam Executive MBA, University of Hawaii There has been a bit of discussion about bananas lately. In Vietnam, the recent success of growing quality bananas and the export of high-yield banana flowers and leaves from the commune of Tan Long, Huong Hoa, Quang Tri, have been praised as a successful initiative by local farmers to reduce poverty. Bananas are one of the most important and traditional fruits in Vietnam. According to the FAO, annual commercial production of bananas is just over one million tons. This number seems small. And statistics should take into account the large number of additional bananas grown by family farms in small production outputs, for local and family use. According to Reuters, the global export market of bananas is worth $7 billion. If Vietnam wants to join the world's top producers of bananas for a share of this growing market, it has to quickly modernize its production. According to the United Nations, Uganda, China, … [Read more...] about NEWS BRIEF & COMMENT: The Chiquita-Fyffes Merger: Should Vietnamese banana farmers adopt mass production or product diversification?
Survey: Locals prefer foreign employers Employees in Vietnam have overwhelmingly chosen foreign-invested companies as the best places to work, with only a few local exceptions, according to a new survey by recruitment network JobStreet.com. The survey for the second quarter attracted more than 2,500 employees in various industries. Unilever Vietnam, a giant in fast moving consumer goods (FMCG), came first among the top 10 employers, followed by Vietnam Dairy Products Joint Stock Co (Vinamilk), Vingroup and technology firms Samsung, FPT, Viettel and Intel. Nestle, P&G Group and Suntory PepsiCo rounded up the top 10. Multinational corporations tended to be dominant in most industry-specific lists. For instance, Vinamilk was the only local player in the top five FMCG companies. Domestic enterprises only outnumbered foreign-invested ones in retail and finance-banking sectors. Vingroup, FPT Shop, Viettel Store and The Gioi Di Dong (Mobile World) took the lead in retail, with Japanese … [Read more...] about BUSINESS IN BRIEF 10/9
VWS proposes taking less waste for treatment Vietnam Waste Solutions (VWS), facing strong public criticisms over a foul smell from its waste management facility in southern HCMC, has written to the HCMC government proposing taking less waste for treatment from next week. The company said in a document sent to the city government on Wednesday that from October 10, it would scale down the daily volume of garbage it receives from the current 5,000 tons to 3,000 tons, which was exactly the amount its Da Phuoc integrated waste management facility handled a day before the city government allowed it to manage an additional 2,000 tons in November 2014. This 2,000-ton volume was transferred from Phuoc Hiep waste treatment complex in the outlying district of Cu Chi. According to VWS, this is a necessary step to reduce the volume of waste it treats amid public criticisms over the spread of the odor from Da Phuoc. The recent heavy downpours, especially on September 26 and 27, have caused leachate … [Read more...] about Social News 9/10