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During November, the price of domestic raw cassava rose slightly from October. In Tay Ninh province, cassava could be traded from the factory at a price of between VND2,650 to VND2,780 per kilo, an increase of VND100 per kilo in comparison to the end of October, while in Kon Tum, cassavas could be purchased at between VND1,950 and VND2,100 per kilo. In contrast to the same period from previous years, demand from the Chinese market has yet to experience an upward trend, although it is anticipated that prices will not fall further due to an insufficient supply of cassava starch. Throughout November, the export of cassava and cassava-based products reached 230,000 tonnes, worth US$88 million, an increase of 30.7 per cent in volume and up 23.7 per cent in value compared to October. This figure also represents a rise of 6.3 per cent in volume and a drop of 8.3 per cent in value over the same period last year, whilst the average export price has decreased by 13.8 per cent to US$383 per … [Read more...] about Cassava exports enjoy massive turnover increase throughout November

A corner of the Old Quarter walking street in downtown Hanoi is seen from above. (Photo: VNA) Hanoi (VNA) – Hanoi led Vietnam in foreign direct investment (FDI) inflow in the first nine months of 2018 with more than 6.26 billion USD, a 5.4-fold rise from the same period last year, according to a local official. Some 162.7 trillion VND (over 6.95 billion USD) in non-state investment was injected into 70 projects in the capital, with local investment for development estimated at 219.44 trillion VND (9.38 billion USD), up 10.3 percent, Director of the municipal Department of Planning and Investment Nguyen Manh Quyen told the 15th meeting of Hanoi’s 16th Party Committee on October 1. The meeting, chaired by Secretary of the city’s Party Committee Hoang Trung Hai, was held to review socio-economic development in the first three quarters of the year and tasks for the remaining months. The nine-month Gross Regional Domestic Product (GRDP) rose by 7.17 percent as … [Read more...] about Hanoi leads FDI injection in first three quarters

Deputy Prime Minister Vu Duc Dam speaks at the forum. — VNA/VNS Photo Minh Quyet He was speaking at the E-payment Eco-system Development Forum 2019 under the theme “Motivation by Chip Technology” in Hanoi on December 10. The forum was co-organised by Thoi bao Kinh te Vietnam (Vietnam Economic Times) and the National Payment Corporation of Vietnam (NAPAS). The Southeast Asian economy was dynamic with an internet economy of US$100 billion that was expected to triple in the next five years,” said Dam. In order to promote the internet economy, a consensus was needed between State agencies, enterprises and banks, he said. Infrastructure must be changed at a cost but it would be worthwhile for economic efficiency in the long run, he said. Technology had to be promoted to integrate information, including personal, health insurance and banking data, said Dam. Deputy Prime Minister Vu Duc Dam also noted that … [Read more...] about Promoting cashless payments to boost internet economy

  Local people in Đắk Lắk shop for goods. — Photo baodaklak.vn HÀ NỘI — Enterprises in the Central Highland province of Đắk Lắk have set aside nearly VNĐ261.5 (US$11.22 million) to prepare goods for the upcoming Lunar New Year (Tết) holiday, according to the provincial Department of Industry and Trade. Those which have spent a considerable amount of capital include Co.opmart Buôn Ma Thuột with VNĐ80 billion, Mega Market (VNĐ45 billion), Vinmart Buôn Ma Thuột (VNĐ41 billion), Ea Kar Trade Centre in Ea Kar District (VNĐ10 billion) and 721 Coffee One Member Co (nearly VNĐ5.5 billion), online newspaper baodaklak.vn cited the department as saying. These firms have focused on stockpiling consumer goods such as rice, meat, vegetables, fruits, meat, eggs, sugar, cooking oil and soft drinks.   Trần Thị Thành Nhân, Deputy Director of … [Read more...] about Đắk Lắk Province prepares goods for Tết, worth $11.2m

More and more foreign and domestic companies see M&A as an effective channel to fast-track their growth, Photo: Le Toan Vietnam’s largest dairy producer Vinamilk has recently snapped up over 90 million shares of GTNFoods, which holds Moc Chau Milk, Vinatea, and Ladofoods brands. With the share price of VND13,000 ($0.56), the total value of the deal is VND1.171 trillion ($50.91 million). Following the deal, Vinamilk has increased its holding in the dairy producer from 2.32 to 38.34 per cent. The move is significant as it reflects Vinamilk’s intention to milk the demand for dairy products in Vietnam amid unfavourable market conditions throughout 2018. According to its 2018 annual report, since the fourth quarter of 2017, the dairy industry had recorded negative growth, and there have only been signs of significant positive change only since the fourth quarter of 2018. To battle the dairy industry’s slowdown in 2018, Vinamilk is ready for mergers and … [Read more...] about M&A gateway to firms’ growth and expansion