Sugar companies are in such danger that the Ministry of Agriculture & Rural Development (MARD) on April 3 had to organize a meeting with the sugar association to discuss ways to rescue them. In the Mekong Delta, which has a large sugarcane growing area, farmers are desperate. After the failure of the 2017-2018 crop, thousands of households do not have more capital for the new farming crop. Many of them chopped down sugarcane plants to grow other crops. In Tra Cu district, the ‘sugarcane metropolis’ of Tra Vinh province, hundreds of hectares of sugarcane growing area have been used for aquaculture, rice and crop cultivation. According to the district’s agriculture sub-department, only 3,300 hectares of sugarcane exist this year, a decrease of 30 percent compared with the previous crop. Meanwhile, the Tra Vinh sugar refinery has spent big money to increase its capacity. Now with the sugarcane output decrease, it is likely to lack material for production. In Hau … [Read more...] about Sugar companies in danger of going bankrupt
The proportion of automobile parts made in Vietnam remains modest because of problems in production costs and quality. According to Bui Thanh Nam, general director of Ha Noi Plastics JSC, the company is now a reliable partner of Honda, Toyota, Piaggio, VMEP, Panasonic and LG. In 2010, Ha Noi Plastics could only make two components for Toyota. But in 2018, it could make 30 components and the figure increased by 14 in 2019. The company has found new clients, including VinFast, Toyota Boshoku, Ler, Visteon and Hyundai.The last chance The proportion of automobile parts made in Vietnam remains modest because of problems in production costs and quality. According to Nguyen Trung Hieu from VAMA, it is now an important moment for Vietnam as it has the last opportunity to develop an automobile industry of its own. After 8-10 years, under the FTAs of which Vietnam is a member, the import tariff will be cut to zero percent. Kim Chi To develop Vietnam's supporting industries The … [Read more...] about VN automobile support-industry growth remains modest
Twenty years ago, five large automobile manufacturers asked Vietnam to open the automobile market. But the proposal was refused. The report from the Ministry of Industry and Trade (MOIT) to National Assembly Deputies showed that Vietnam’s automobile industry has been growing rapidly over the last two years. In 2017, Vietnam assembled 258,000 cars and the output of 250,000 products was maintained in 2018. About the achievements of the automobile industry, the report said many products have been exported to Laos, Cambodia, Myanmar and Central America. It has contributed billions of dollars to the state budget and generated 120,000 jobs. However, the ministry admitted too many problems in the industry, including the low locally made content ratio in products. The plan on raising the localization ratio for car models with less than 9 seats has failed. Under the plan, the ratio must be 40 percent by 2005 and 60 percent by 2010. However, the ratio is now 7-10 percent, far lower than … [Read more...] about Thai manufactured 3 million cars in 20 years, Vietnam assembled 250,000
Vietnam has increased imports of chicken from the US which have the surprisingly low price of VND18,000 per kilogram. According to the General Department of Customs (GDC), by the end of June, Vietnam had imported 62,400 tons of chicken from the US, worth $48.6 million. As such, the import price is dirt cheap, just VND18,000 per kilogram. The retail price at traditional market is VND80,000 per kilogram. Vietnam has increased imports of chicken from the US which have the surprisingly low price of VND18,000 per kilogram. In the US, chicken legs, wings and thighs are used to process bone powder for animal feed. However, these products are favored in Vietnam and are imported as food for humans. Nguyen Tat Thang, secretary general of the Vietnam Livestock Association, agreed with Duong, saying that in western countries, including the US, chicken breast is the most favored and the most expensive, while thighs, legs and wings are not. Thanh Lich Imported pork dirt cheap, domestic … [Read more...] about US chicken dirt-cheap in Vietnam
The CBU (complete built unit) imports to Vietnam in the first seven months of the year were five times higher in number than in the same period last year. Minister and Chair of the Government Office Mai Tien Dung has said that the government will soon amend Decree 116/2017 on conditions to manufacture, assemble, import and trade cars and maintenance services. It is expected that provisions related to car imports will be removed. Instead of examining cars by consignments as currently regulated, the government would amend the legal document, so that imports would be examined by vehicle type, while pre-customs clearance examinations would be replaced by post examination. Car importers believe that once the decree is amended, it will be easier for CBU imports to enter Vietnam. According to a representative of Thaco, ‘examination by type’ means that state agencies will take samples to test emissions and safety, and the results of the tests will be applied to the next … [Read more...] about Will car imports ‘crush’ domestically assembled cars?