#Waste Tyre Recycling Plant Exporter

[rmechmachines]

Article Scrap Plastic Washing Machine in Lebanon

R Mech Machines LLP is a leading Manufacturer and Exporter of Article Scrap Plastic Washing Machine in Lebanon. Our manufacturing unit is in Ahmedabad, Gujarat, India. Our Scrap Plastic Washing Machines handle a variety of plastics, including PET, HDPE, LDPE, PVC, and PP. They ensure that the recycled plastic is of high quality and suitable for further processing, minimizing environmental impact and enhancing resource recovery. The washing machine uses a combination of mechanical agitation, high-pressure water jets, and detergent solutions to thoroughly clean plastic scrap. It ensures the complete removal of contaminants like dirt, oils, labels, and residues from plastic materials. Designed for high-capacity cleaning, the machine offers large-scale processing capabilities, making it ideal for recycling plants and facilities handling large volumes of scrap plastic. Scrap Plastic Washing Machine is built to minimize energy consumption while maximizing cleaning efficiency. The advanced design ensures that the washing process is cost-effective, reducing operational costs for businesses. The machine features an automated control system that allows for easy operation. The settings for water pressure, temperature, and washing time adjust according to the material being processed. Materials Used in Scrap Plastic Washing Machine: Stainless Steel, Heavy-duty Motors, Advanced Water Pumps, Rubber and Plastic Components, Automated Control Panel. Is the Scrap Plastic Washing Machine energy-efficient? The Scrap Plastic Washing Machine is designed to minimize energy consumption and ensure optimal cleaning performance. Is the washing machine suitable for small-scale recycling operations? Yes, the Scrap Plastic Washing Machine is available in various models to suit both small-scale and large-scale operations. Whether you're handling small batches or large volumes of plastic waste, we have a solution for your needs. R Mech Machines LLP is an Exporter of Article Scrap Plastic Washing Machine in Lebanon including locations like Beirut, Tripoli, Sidon, Baalbek, Tyre, Nabatieh, Jounieh, Aley, Zahle, Zgharta-Ehden, Byblos, Batroun. Contact us today for inquiries or to place an order! View Product: Click Here Read the full article

[fornnaxrecycling]

FORNNAX EXPANDS PRIMARY SHREDDER SERIES WITH SR-200 HD 

Mumbai India, March 20th, 2024: Fornnax, a global pioneer in recycling machinery, is pleased to introduce the SR-200 HD Dual-Shaft Primary Shredder, a groundbreaking invention. The prestigious India Rubber Expo (IRE) at the Bombay Exhibition Centre in Mumbai will debut on March 20, 2024. The SR-200 HD marks a significant leap in recycling technology, demonstrating Fornnax's dedication to engineering excellence and sustainability.

FORNNAX has always been aggressive about constant innovation and new product development. Based on growing customer demand for high-capacity pre-shredders from Fornnax, the SR-200 HD, the new HD model of the SR series that replaces the standard SR200 model, was developed. The Primary Shredder SR-200 HD is more powerful and has the highest input capacity model in the SR series of machines.

Ideal Industrial Applications

The SR-200 HD is primarily designed for tyre shredding applications. It can also be utilized for other applications, including high-volume municipal solid waste, wood pallets, industrial and commercial waste, and many more.

As a result of the stringent waste treatment policies in place, there is a growing global demand for competitive pre-shredders. The introduction of the SR-200 HD presents significant opportunities for industries in the Middle East, Australia (due to full-tyre export bans from Australia and steel export bans from the Middle East) and Europe, where an increasing need for advanced recycling solutions is evident. 

Primarily targeting large-scale recyclers and cement plants that require high-capacity machinery. We have secured six pre-launch orders from India, Australia, the Middle East, and Europe, reflecting the trust built in the global market over the years. Industries are seeking machinery with enhanced output capabilities that comply with industry-leading standards to meet their recycling needs effectively.

[bestonrecycling]

Tire Shredder Machines And Further Equipment Required For Eco-Friendly Rubber Recycling

If your looking to start up a tyre recycling company, one of the first pieces of equipment you must buy is actually a tire shredder machine. This sort of machine is able to cut a great deal of second hand car tires into tiny pieces at a high working efficiency. You might also hear such a machine referred to as a tire grinder or grinding machine. Each of the best machines are created to process tires for any size, including tractor and HGV tires to improve the processing capabilities of your own rubber waste recycling business.

Beston's tyre shredding machine can process full-steel radial tires, bias tires, and semi-steel radial tires, including airplane, tractor, bicycle, car, and motorbike tires. They transform tires into rubber powder or <50mm rubber blocks depending on the operational mode selected by the user. The black rubber powder can be set to 30 to 200 mesh depending on the consistency required for additional processing processes.

The main parts of a typical tire grinder configuration include a chain conveyor, tire shredder, secondary chain conveyor, rubber rasper, dust collector, belt conveyor, rubber granulator, vibrating screen, and cyclone.

Here are some of the benefits of Beston tire shredders for sale:

Compact structure.

Easy maintenance access and side-by-side configurations.

Competitive pricing.

Equipped with a durable, wear-proof shredding blade.

Low energy consumption.

Fast processing times.

Highly-rated after-sales services.

Beston's 900 model has an hourly processing capacity of 2T and weighs 6.8T. The brand's 1200 model, meanwhile, has double the hourly processing capacity and weighs 18T. You can obtain a free quotation for each of the models by contacting a customer representative. You should expect a reply within 24 hours.

If you want to be able to process large rubber waste items, such as sports hall flooring, rubber mats, carpet liners, horse racing tracks, etc. you will need to invest in a crushing machine. The crushing machine will transform large items into pieces small enough to enter the tire-shredding machine.

After you have purchased a tire shredder machine and optional crushing machine, you need to start looking for an energy-efficient rubber pyrolysis plant to get your eco-friendly recycling business operational. While scrap tires have traditionally been disposed of via incineration and landfill burial, a pyrolysis plant enables you to convert used rubber into profitable commodities, including steel wire, carbon black, combustible gas, and fuel oil. Incidentally, Beston has both tyre shredding machines and rubber pyrolysis reactors for sale on its official website, which you can visit here.

There are of course other tire shredder manufacturers in the marketplace and it's worth exploring the different models for sale. While Beston exports to most countries around the world, it's possible that local suppliers in your region might have equipment better suited to the climate conditions and main types of rubber waste near your factory.

Remember that price is not the only factor you should take into account when comparing different tire grinding machines for sale online. You also need to consider the reputation of the supplier and the durability of the machine's construction.

[theindiantradebirdworld-blog]

[devoted1989]

world vegan month november 2019

leather - a thriving business based on the misery & suffering of billions

 It is a common misbelief that leather is a by-product of the meat industry – a by-product which will go to waste if we don’t eat it. This is not the case.

 Leather is produced not to minimize waste, but to meet consumer demand. It is produced because it is a highly profitable and lucrative business and is actually used to maximize profits.

 Leather is worth 10 percent of the total value of the cow, making it the most economically important product once the meat has been taken. As with dairy, leather and meat are mutually sustaining industries. Leather helps make the meat industry—and animal farming—profitable.

 Along with cattle, leather is also made from the skins of other animals - pigs, goats, and sheep as well as exotic animals such as alligators, ostriches, kangaroos, elephants, lizards, ostriches, snakes and zebras.

 Most leather comes from India’s cows, who are used to make leather for high street stores. As India forbids the slaughter of cows, these innocent animals are forced to endure brutal and gruelling journeys where they are confronted with an unimaginable end.

 When travelling by train, anywhere up to 900 cows are crammed into a wagon that is supposed to hold a maximum of 80 to 100, and upon arrival 400 to 500 are dead. On some routes they are forced to travel on foot. They are not allowed to rest or drink and if they collapse, their tails are broken and hot chilli peppers and tobacco are rubbed in their eyes to get them to rise.

China, the world’s leading exporter of leather, annually skins an estimated 2 million dogs and cats a year, which is then unknowingly purchased by consumers due to mislabelling and inaccurate indications of the origin.

Slink is a soft and thin material that comes from the skin of unborn calves and lambs It is found on high-end products due to its rarity and expense.

 China, the world’s leading exporter of leather, annually skins an estimated 2 million dogs and cats a year, which is then unknowingly purchased by consumers due to mislabelling and inaccurate indications of the origin.

 Slink is a soft and thin material that comes from the skin of unborn calves and lambs It is found on high-end products due to its rarity and expense.

cruelty-free alternatives

 If you don’t want to contribute to the brutal leather industry, you don’t have to - there are many innovative cruelty-free alternatives available, both natural and synthetic.

some of these include:

- Faux Leather

- Microfiber

- Ocean Leather

- Canvas or Textiles

- Vinyl or PVC

- Paper

- Cork Leather

- Recycled Rubber

- Waxed Cotton

- Coolstone Leather

- Tree Bark Leather

- Apple Fibres

- Recycled Tyres

- MuSkin (From mushrooms)

- The Hana Plant (Agave Plant)

- Teak Leaves

- Piñatex™ (Pineapple) 

retailers who sell goods made from cruelty free alternatives to leather

Here you may find a comprehensive list of retailers who sell goods made from cruelty free alternatives to leather, by The Vegetarian Resource Group:http://www.vrg.org/nutshell/leather.php more information

here you may find an extensive article about the leather industry, by Viva!

https://www.viva.org.uk/leather-report

With thanks to Vegan Mainstream, Gentle World, Care 2, allcreatures.org,  The Leather Council, vegetarian.org,  PETA, Wikipedia. Animalrights.org, , Animal Legal Defence League, Vegetarian Resource Group & One Green Planet.

*Please note: All the images are of cruelty - free products.

[fabhind01-blog]

FABHIND is a hot mix plant manufacturers, exporters in India, we Supplies Asphalt hot mix plant, Waste Tyre, Tire Recycling Plant, Asphalt Plant for more details – www.fabhind.com

[wastetoenergyindonesia]

How To Decide On The Best Tire Recycling Pyrolysis Machine

A tire recycling machine is a crucial element of any recycling business. This machine takes waste tires and quickly and safely turns them into oil. This oil enables you to run machines, heat buildings, and it can also be refined into gasoline. This waste tyre recycling pyrolysis plant for sale is protected for your environment in fact it is eco-friendly which means you won't be concerned about hurting the surroundings if you use it.

The tire recycling machine is a good investment in your business and it will help you increase profits and be more efficient. The appliance takes many different types of used tires and it also takes used rubber and converts it into fuel oil.The machine relies on a process called pyrolysis to convert the rubber into oil. The rubber is safely and expense-effectively heated into a quite high temperature where it reduces into oil. The equipment handles the entire process from start to finish to ensure that you want to use the very least amount of work and labor. See waste tyre pyrolysis plant project report.

The device was designed to use small quantities of energy that makes it an affordable strategy to produce oil. The tires might be had free of charge or even for a very cheap price that can maximize your profits with this machine. There are many different machines from which to choose that makes this machine a smart investment in your business.

The appliance is made out of high-quality materials which helps to ensure that you end up with a machine that will be considered a hard worker for your business. The appliance is guaranteed and is particularly going to work 24 / 7 to help you to produce lots of oil. View oil extraction from tyres.

You may enjoy a quality after-sales service whenever you put money into this machine. You will get help as long as you will have the machine in operation. You will additionally enjoy quality before sales service which implies the manufacturer will allow you to create the device and in many cases provide training for all your employees which means you don't have any issues.

The appliance might be exported around the globe and that means you can take advantage of every one of the benefits associated with the machine irrespective of where you live. The cost is quite affordable and also the manufacturer will work everything to hold the costs down so you don't must spend a lot of cash on shipping. You wish to try to keep your costs down as much as possible which is easier to complete when you choose the best recycling.

Another big plus of this machine is basically that you won't need to worry about pollution and the machine comes with lots of anti-pollution devices and other devices that are going to make the machine safer and simpler to operate.

If you need to convert tires into oil the tire recycling machine is the perfect choice. You can find this machine to get a very inexpensive price and you also won't need to bother about issues and problems by using this machine. This machine might be a great selection for your business. Look at this case: https://bestonmachinery.com/semi-continuous-oil-sludge-pyrolysis-plant-shipped-to-nigeria/.

[earaercircular]

An entrepreneur in Nigeria has found value from used car tires

Entrepreneur Ifedolapo Runsewe has set up Freetown Waste Management Recycle, an industrial plant dedicated to transforming old tires. The company transforms old tires into high-demand goods such as paving bricks and floor tiles. This has proven to be a safe and valuable method of waste management in Nigeria.

In Nigeria, a country heavily reliant on revenues from its oil exports, entrepreneur Ifedolapo Runsewe has identified another type of black gold: used car tires.

She has set up Freetown Waste Management Recycle, an industrial plant dedicated to transforming old tires into paving bricks, floor tiles and other goods that are in high demand in Africa's most populous nation.

"Creating something new from something that will otherwise be lying somewhere as waste was part of the motivation," Runsewe told Reuters at her factory in the city of Ibadan in southwest Nigeria.

"We are able to create an entire value chain around the tires," she said, holding a paving brick that is one of the company's best-selling products.

Waste management in Nigeria is patchy at best. In villages, towns and cities, piles of waste are a common sight, and residents often burn them at night for lack of a safer method of disposal. Tires are routinely dumped and abandoned.

Freetown relies on scavengers who collect old tires from dumping grounds. They are paid 70 to 100 naira ($0.17-$0.24) per tyre.

Some tires are also supplied directly by mechanics, like Akeem Rasaq, who is delighted to have found a place where he can make some money from old tires.

"Most of the tires end up in public drainage clogging up the drain, but things have changed," he said at his roadside workshop.

Freetown started operations in 2020 with just four employees, and growth has been so rapid the workforce has jumped to 128. So far, more than 100,000 tires have been recycled into everything from speed bumps to soft paving for playgrounds.

"It is important to support anybody that recycles in our country," said Houssam Azem, founder of the Lagos Jet Ski Riders Club, which has purchased paving bricks from Freetown for a children's play area.

"Taking tires, which is an environmental nuisance, and turning them into what children can play on, I think it is a win-win for everybody."

Source

Fikayo Owoeye, Seun Sanni , An entrepreneur in Nigeria has found value from used car tyres, Reuters, 08 Oct 2021, Old car tyres are being recycled in Nigeria into goods | World Economic Forum (weforum.org)

[theafricanmedia]

A new type of black gold in Nigeria: used car tyres

A new type of black gold in Nigeria: used car tyres.....read more

IBADAN, Nigeria, Oct 7 (Reuters) – In Nigeria, a country heavily reliant on revenues from its oil exports, entrepreneur Ifedolapo Runsewe has identified another type of black gold: used car tyres. She has set up Freetown Waste Management Recycle, an industrial plant dedicated to transforming old tyres into paving bricks, floor tiles and other goods that are in high demand in Africa’s most…

[tiozambia]

Death of Copperbelt mining part II

By Peart Siwale in Ndola Mining in the Copperbelt faces a crisis. This crisis involves technical, economic, managerial and political issues. In the October edition of The Independent Observer, I looked at technical and political challenges. In this article I shall focus on managerial problems alone then the last part will handle economic challenges in the mines. Copper deposits in Zambia were discovered in the 1920s while those in Katanga (DRC) were discovered earlier in the 1890s. In fact, if Belgian geologists had not made an error in mapping, the whole Copperbelt would have been part of Belgian, Congo. It is that same geological error that explains the unusual geographical feature known as the Pedicle. Copper mining in Zambia has gone on for nearly 100 years. During that period the industry has experienced many ups and downs—the ups in times of war or rapid industrialisation, the downs in times of economic recessions. The most recent up sage in demand and price for copper has come from China and India in their rapid industrialization. This article explains the nature of that crisis and proposes measures to mitigate adverse consequences. Managerial issues: There are some serious managerial issues in the mines. For example, expatriate employees and contractors are paid higher salaries and rates than Zambians counterparts doing the same work. Why does the government and the unions condone this practice in this day and age? In 1972, I was a member of a team which went to DRC (then Zaire) to study operations of GECAMINES. One of the differences we found was the treatment of expatriate and local graduates. All graduates, local and expatriates, were categorised as Les Cadres and were paid the same salaries. Expatriates who had highly sought out critical skills were paid an “inducement” allowance outside Zaire. It was this differential treatment that made me and many others to leave the mines. For the practice to have continued to this day is a shame and is nothing but shameful. The International Monitory Fund (IMF) and the World Bank have been advising government to privatise Zesco. Is it always the case that private companies are run more professionally? Who would suffer if private owners mismanaged Zesco? The US government recently “nationalised” several financial institutions to save them from collapse due to mismanagement. Managers in private companies can play politics. We see this in the saga going on in South Africa with the so called state capture. The socialist government of President Allende privatised Chilean Copper mines. When the socialist government was removed the new leaders retained government ownership, but had the discipline and integrity to avoid interfering in the running of the mines. Chilean mines, though government owned, have been run professionally and the country has benefited immensely. It is a sad fact that current African leaders, with few exceptions, do not have the self-discipline, self-pride and integrity to avoid dipping their fingers into state owned companies’ coffers. Managers in private companies often play politics and are not always professional. Stories coming from South Africa about state capture are a case in point. The IMF and the World Bank can do a lot to stop governments from interfering in state owned companies following the good example of Chile and Botswana. Zambia’s dependency on copper When I went to the Royal School of Mines at Imperial College in 1967, there were three Malaysian students in my class. I was the only African. At the time Malaysia was the largest producer of tin in the world. Tin, palm oil and rubber made up 80per cent of the value of Malaysian exports, while copper accounted for 80 per cent of Zambian exports. When I went to Malaysia in 1999, tin, palm oil and rubber accounted for only 10 per cent of the value of Malaysian exports, whereas copper had enhanced its position and made up 90 per cent of the value of Zambian exports. What happened? The prime minister of Malaysia, Dr Mahathia Mohammed had posed the question in the 1970s. “Can we develop our country depending on exports of products whose price we cannot determine? “The answer was, no. So what did they have to do? Malaysia enacted a law whereby companies setting up manufacturing operations in Malaysia would get a 10-year corporate tax holiday. They reasoned that the loss in tax revenue would be recovered from Pay As You Earn (PAYE) tax as the number of people employed increased. The prime minister personally travelled to America, Europe and Japan to sell his country and give credence to this law. Japanese companies were the first to take advantage of the law and almost uprooted factories from Japan to reestablish them in Malaysia. European and American companies followed. Hence by 1999 Malaysia was the largest exporter in the world of air conditioners, natural rubber products and refined palm oil. What lessons can we learn from this? Revenue from PAYE is more reliable than income from corporate tax. Companies frequently manipulate their corporate tax liabilities to pay less tax. Private sector jobs add more value to the economy than jobs in government bureaucracies.   Look out for part three of Death of Copperbelt mining as I focus on economic challenges and provide the measures and mitigations to arrest the problem. Death of Copperbelt mining part II By Peart Siwale in Ndola Mining in the Copperbelt faces a crisis. This crisis involves technical, economic, managerial and political issues. In the October edition of The Independent Observer, I looked at technical and political challenges. In this article I shall focus on managerial problems alone then the last part will handle economic challenges in the mines. Copper deposits in Zambia were discovered in the 1920s while those in Katanga (DRC) were discovered earlier in the 1890s. In fact, if Belgian geologists had not made an error in mapping, the whole Copperbelt would have been part of Belgian, Congo. It is that same geological error that explains the unusual geographical feature known as the Pedicle. Copper mining in Zambia has gone on for nearly 100 years. Diversification of the economy When the price copper goes down and income from copper falls our leaders begin to talk about diversification of the economy. When the price goes up, diversification is quickly forgotten. The contribution of mining to the Zambian economy has been meagre compared to South Africa, Australia, Zimbabwe among others. An International magazine compared foreign exchange contribution to the economy of mining in South Africa, Zimbabwe and Zambia. The findings were: in South Africa: US $100 earned by mining the industry itself exported US $20 In Zimbabwe: US $100 earned the industry exported US $60 in Zambia: US $100 earned the industry exported US $80. The situation for Zambia is not surprising and may have worsened. The mines and virtually all suppliers to the mines are importers —every little bolt and nut is imported. Mining companies in Zambia operated with a “mining camp” mentality. Look at their own main offices at Nchanga, Mufulira, Nkana among others as compared to their offices in Johannesburg and London. At one time the Anglo American group of companies controlled 60 per cent of the South African economy because they retained money in South Africa by investing in many areas of the economy. A local value adding company, Metal Fabricators of Zambia (ZAMEFA), has not been expanded to a world class size, befitting Zambia’s status in copper production. I was visiting Sumitomo Electric in Japan in 1995 and asked a factory official if they wouldn’t prefer to import copper rod instead of cathode or wire bar. Of course they would. Why haven't we added value to our copper exports? Copper is a wasting asset if you export it. In importing countries copper is recycled indefinitely. For example, 70 per cent of copper used annually in the US is recycled, only 30 per cent is “new” copper. As exporters we are just shifting our mines to importing. Countries such as China and India. As these countries accumulate sufficient stocks of copper in their domestic economies, they will require less and less new copper and the price of copper will continue to fall. Manufacturing in my town, Ndola, was completely wiped out by erroneous policies introduced by President Chiluba’s regime. Government allowed an influx of used (salaula) tyres from North Korea which contributed to the demise of a local tyre manufacturer, Dunlop. I was Managing Director of neighbouring Boart Longyear and I know how hard the MD of Dunlop, Bob May, tried to save local production of tyres. The closure of Dunlop lost the country close to 1,000 jobs. The company left Zambia and set up a plant in Zimbabwe and now exports tyres to Zambia. Continuous improvement The Japanese quality guru, Shigeo Shingo, used to say, “If you are poor you must use your brains until you feel the pain.” Most of us do not want to do this. Thinking is the hardest work in the world and leaders must accept their role in inculcating a culture of hard accurate thinking. When the MMD came into power in 1991 almost all the good things President Kaunda had initiated were destroyed. In total quality management we accept the existence of a productivity paradox. Every new quality or productivity programme causes a dip in quality or productivity. If you are wise, you persevere with the programme. The duration of this dip can be long or short depending on your focus and the intensity of effort. When quality or productivity begins to rise, it will reach a level you could not have attained without going through the learning period. Most people do not want to go through this, however short, period of hardship and end up forever wallowing in mediocrity. President Kaunda used to talk about the need to tighten our belts. Nobody these days’ talks about the need to go through periods of hardship in order to achieve a better future. Conclusions •Copper mining in the Copperbelt will decline rapidly unless certain strategic decisions are taken involving all stakeholders • Among the major stakeholders is the government. The existing laissez fare attitude must end • A new spirit of mutual trust and commitment between government and mining companies must be found. • A team of experts comprising geologists, mining engineers, metallurgists, accountants, management experts and lawyers, representing government and the companies, be appointed to carry out a deep analysis of problems facing the Copperbelt mines, formulate a way forward and ensure implementation • Stop the current unhelpful politicking, such as calls for re-nationalisation of the mines. • Take to heart Shigeo Shingo’s admonition to find problems before problems find you. • Work with the new owners to seek opportunities for growing ZAMEFA to world class status. Read the full article

[fabhind01-blog]

FabHind is a  leading manufacturer and Exporter  of waste tyre recycling plant, FabHind offers you the superior high-quality waste tire recycling plants for you for more details visit – www.fabhind.com

[megadarkbouquettidalwavethings]

News VietNamNet

Shortage in labour after Tet minimal The issue of worker shortage in Ho Chi Minh City after the Lunar New Year has subsided more quickly than ever this year.

The rate of workers returning on time after the holidays is higher than ever in Ho Chi Minh City 

On February 21, most firms in the city’s industrial parks (IPs) and export processing zones (EPZs) resumed normal operations. Compared to previous years, they were faced with less difficulty in recruiting new workers and trying to bring current ones back to work post-holiday.

Over 1,000 workers returned to work at Truong Thanh Garment and Textile in Linh Trung IP 1 in Thu Duc district. Truong Thi Tham, the firm’s deputy director, stated that 95 per cent of workers are now back, compared with a figure of 70 per cent this time last year.

“As the company has been receiving large amounts of orders, we have taken measures to ensure that workers leaving for their hometowns for the holidays are going to come back. The company has arranged buses to take them home as well as saved part of their Tet bonuses for after they have returned to work,” she said.

In Linh Trung IPs 1 and 2, only 20 companies registered to resume operation on February 21; the majority are to do so five days later, so their staff can be back on time.

According to Nguyen Van Hung, HR manager of a seafood processing company in District 7’s Tan Thuan EPZ, the number of workers returning on time has increased sharply this year.

“90 per cent of our 650 workers have come back after the festive period, up 30 per cent against the previous year,” he said, attributing the high rate to the firm’s supportive policies as well as workers’ awareness of workplace discipline.

Tran Cong Khanh, head of the Labour Department under the Ho Chi Minh City Export Processing and Industrial Zones Management Authority, said that the returning rate in the city were at 70 per cent as of February 21. Most companies in IPs have given lucky money to their staff as a means of encouragement on their first day back at work.

According to a survey carried out by VIR, the returning rate has indeed increased significantly in Ho Chi Minh City and neighbouring provinces. The Duc Hoa and Xuyen A IPs in the southern province of Long An have seen 80 per cent of workers back after Tet, constituting the highest such rate in recent years.

Similarly, the situation has been much improved in both Binh Duong and Dong Nai. In the latter’s Amata IP, over 30 companies have now resumed their operations, with 90 percent of staff having returned.

According to Tran Thi Anh Dao, director of the Dong Nai Human Resources Forecast and Labour Market Information Centre, the rate of worker shortage in the province after the holidays remains low at 3-5 per cent, compared to 10 per cent the previous year. This rate stands at 8-10 per cent for labour-intensive businesses.

Dao noted that there has been a tendency in recent years for workers to secure and stick with stable jobs. At the same time, in order to retain staff, companies have introduced more incentives and supporting policies regarding wages and bonuses.

2018 started with major FDI inflows 5 Print EmailVietnam continues to be a lucrative target for a raft of foreign investors in the first two months of 2018.

A week ago, Japanese newswire Nikkei reported that the Japanese government and more than 20 large Japanese firms — including Sumitomo, Mitsubishi, Panasonic, and Tokyo Metro — are planning to join a gigantic project worth over $37 billion to build a smart city project in northern Hanoi.

The 310-hectarea project, with property developer BRG being the Vietnamese partner, is expected to be completed in 2023. It is also expected that in October 2018, construction of about 7,000 buildings and commercial works will begin. This may be completed in late 2019.

Early this month, private firm Hoa Phat Dung Quat Steel JSC, part of leading steel maker Hoa Phat Group, teamed up with Italy’s Danieli, one of the world’s largest suppliers of metallurgical equipment, on a giant stainless steel production project. The project will have a designed capacity of 600,000 tonnes per annum, which could be increased to one million tonnes per annum.

Located at the Hoa Phat Dung Quat iron and steel production complex in Dung Quat Economic Zone in the central province of Quang Ngai, the project will be completed by 2020 and will seek to help the country reduce its reliance on imported stainless steel products. Stainless steel importation came to 560,000 tonnes in 2017, up 10 per cent against the previous year.

In a meeting with Prime Minister Nguyen Xuan Phuc on February 8, Cho Hyun Joon, chairman of leading South Korean textile and chemical firm Hyosung, said that the group commits to strengthening co-operation with Vietnam, not only in processing spandex and yarn for automotive tyres, but also in chemicals and heavy industries.

The group is showing a keen interest in Vietnam’s power projects, particularly the supply of various kinds of transformers that are in dire need in the Vietnamese market.

Last year, Hyosung poured a total of $1.3 billion into a polypropylene manufacturing plant and liquefied petroleum gas (LPG) underground storage facility in Cai Mep Industrial Zone in the southern province of Ba Ria-Vung Tau.

In 2007, Hyosung invested $1.5 billion in a plant at Nhon Trach 5 Industrial Zone to produce textiles and core industrial raw materials.

Early this year, Japanese industrial giant Mitsubishi Motors unveiled a plan to build its second automotive manufacturing facility in Vietnam, valued at $250 million in total investment capital. The plant is slated to be completed in 2020 with an annual production capacity ranging from 30,000 to 50,000 car units, serving both domestic and export markets.

According to a recent Dong Nai Department of Planning and Investment report, the southern province solicited $62.2 million in foreign direct investment (FDI) capital in the first month of the year, a 50 per cent jump on-year. The sum came from four newly-committed projects valued at a total of $22.7 million in combined investment value, and three existing projects which sought $39.5 million in combined supplemental capital.

This year, Dong Nai aims to attract $1 billion in FDI capital, focusing on priority fields such as high-tech, supporting industries, and environmentally-friendly projects.

Representatives from a slew of foreign-invested enterprises based in the southern province of Binh Duong also revealed intentions to continue investment expansion this year.

Ricardo Vasques, Southeast Asia director of major US brewer AB Inbev, said in a recent meeting with Binh Duong leaders that the company will increase investment this year to boost production at its factory based in My Phuoc 2 Industrial Park (IP), and will launch a new beer brand, Hoegaarden.

AB Inbev currently runs two breweries based in My Phuoc 2 and VSIP 2 IPs, which produce the Budweiser beer brand serving the domestic and the export market.

SCIC to auction more than 2.4mn Maritime Bank shares The State Capital Investment Corporation (SCIC) will put more than 2.4 million shares of Maritime Bank up for public auction on the Hanoi Stock Exchange on March 28.

The initial price will be VND12,400 ($0.54) per share, and interested investors must register to buy the entire offering.

This is the second attempt by SCIC to offload Maritime Bank’s shares since its failure in November 2015. Experts, however, have predicted that this auction too will fail due to overpricing, since Maritime Bank’s shares are being traded at some VND7,000 ($0.3)-VND8,000 ($0.35) per share on the over-the-counter (OTC) market.

Moreover, the share offering accounts for only 0.3 per cent of the bank’s charter capital, which would allow little influence by the investor over the bank’s management.

Founded in 1991 in the northern port city of Hai Phong, Maritime Bank had initial charter capital of VND40 billion ($1.7 million). It was relocated to Hanoi in 2005 and acquired the Mekong Development Commercial Joint Stock Bank in 2015, lifting its charter capital to VND11.75 trillion ($516.39 million), with total assets of some VND104 trillion ($4.5 billion).

The Vietnam Posts and Telecommunications Group (VNPT) previously announced a third auction of more than 71 million shares of Maritime Bank, equivalent to 6.09 per cent of its capital, at a minimum price of VND11,900 ($0.52) per share. Its two previous auctions, in March 2017 and January 2018, failed to draw investors.

The lender is one of the most aggressive commercial banks to sell bad debts to the Vietnam Asset Management Company, with a total value of almost VND10 trillion ($439.48 million) by the end of 2015.

Prices of Maritime Bank’s shares on the OTC market have doubled in the last year, from VND4,000 ($0.17) to VND8,000 ($0.35), owing to active divestment by stakeholders.

US-Vietnamese tie up to develop $50-million recycling facility GFSI-MHE Manufacturing of Texas LLC signed a memorandum of understanding with Minh Hung Group of Vietnam to build and operate Southeast Asia’s largest recycling production facility in Vietnam.

Located in the Mekong Delta province of Tien Giang, the facility has an estimated investment of $50 million. Once put into operation in 2019, the facility will manufacture plywood from recycled fibre glass.

Under the agreement, GFSI-MHE Manufacturing of Texas LLC will provide the technology, operational experience, and equipment for this process. MH Group, along with Minh Hung Group, will provide the investment and commercial expertise to drive the initiative.

According to statistics from the Ministry of Natural Resources and Environment, Vietnam discharges around 28.5 million tonnes of solid waste per year, most of which is buried in landfills. There are several polluted landfills due to the lack of an adequate collection system, leachate treatment, and recycling technologies.

The large waste discharge poses challenges to environmental protection but presents opportunities to convert it into industrial materials and energy. The solution offered by GFSI-MHE Manufacturing of Texas LLC will help recycle a large volume of waste, including old composites and fibre glass.

Minh Hung Group is among the 80 enterprises holding the Vietnam Value 2016 certification by the Vietnamese government and has received many important and coveted awards, such as the Top 500 Fastest Growing Enterprises in Vietnam and the Top 500 Biggest Private Enterprises in Vietnam.

GFSI-MHE Manufacturing of Texas LLC is a joint venture (JV) between the US’ Global Fiberglass Solutions Inc. (GFSI) and Canada’s MHGroup. The company recycles spent and damaged fibre glass wind turbine blades into a plywood and sheetrock substitute material known as Ecopolypanel™ at its large-scale JV manufacturing facility in the US.

Hotel project in Danang found to violate construction regulations A hotel project in the central city of Danang has been found to violate construction regulations after adding more floors without permission from authorities.

7 Seven Sea hotel project is located on Vo Nguyen Giap Street, Son Tra District was allowed to build one basement and 18 floors, however the investor, Ly Bang Services and Trade Ltd. Co. added another floor and some others items without seeking approval.    Le Van Tuan, chief inspector from the municipal Department of Construction, said that the investor will be fined VND614 million (USD27,909), equal to half of the value of the illegally-built items. 

Construction violations have been reported in Danang for many years, including Bien Tien Sa resort on the Son Tra Peninsular. Dozens of villas and bungalows in The Song Resort project have also been found to be built without licenses along Danang beach.

Danang City’s Son Tra District authorities are inspecting violations by Muong Thanh Son Tra hotel and apartment complex project complex project invested by Muong Thanh Group. 

The project has 42 storeys and two basement levels. The second to fifth storeys in the apartment block are for parking lots, gymnasium, swimming pools and kindergarten and public area. However, during the construction process, the investor failed to follow the approved designs and turned these four storeys into a total 104 apartments for sale.

According to Vu Quang Hung, director of the Danang Department of Construction, the department will co-operate with local agencies to tighten control over construction activities to detect violations which will be strictly punished.

Eight Viettel products at world mobile expo Military-run telecom group Viettel brought eight products it has developed in education, mobile finance, network security, tourism, customer-protection solutions and others to the world’s biggest annual mobile event, the annual Mobile World Congress (MWC) in Barcelona, Spain, from February 26 to March 1.

This was the fourth time Viettel has taken part in the event.

“By displaying our products, Viettel would like to confirm that Vietnamese are able to create modern technologies which can compete globally,” Tao Duc Thang, the company’s Deputy General Director, said.

This year, MWC attracted 200 nations, 60 percent from Europe, 18 percent from America, and 15 percent from Asia with 2,200 kiosks.

“Creating a better future” was the theme for this year’s event. 

Market research to promote exports to Middle East Vietnamese export companies will have opportunities to set up distribution channels in the Middle East thanks to a market research programme launched by the Investment and Trade Promotion Centre in Ho Chi Minh City and the Vietnamese Embassy’s Commercial Affair Office in the United Arab Emirates (UAE).

The research will be carried out from March 4-9 this year. It aims to help rice, food and fruit exporters seek opportunities in Middle Eastern nations.

According to the Ministry of Industry and Trade, trade between Vietnam and the Middle East reached 12.8 billion USD in 2017, up 17.4 percent from 2016.

Vietnam’s main exports were mobile phones, computers and accessories, seafood, footwear, garment and textiles, fibre, rice, pepper, wood products, cashew nuts, natural rubber, vegetables and fruit and coffee beans.

The country mostly imported materials for domestic production, such as plastic, liquefied gas, electronic spare parts, machines and animal feed, from the Middle East.

February’s CPI edges up due to strong demand during Tet The consumer price index (CPI) in February edged up 0.73 percent monthly and 3.15 percent annually, largely driven by people’s high demand for commodities and services to be used in the Lunar New Year (Tet) festival, the country’s largest holiday in a year, according to the General Statistics Office (GSO). 

The CPI rose by 1.24 percent from December 2017, pushing the index up 2.9 percent in the first two months this year. 

Among 11 goods and services categories, nine saw price increases, including food and catering services (1.53 percent); transportation (0.79 percent); beverages and cigarettes (0.75 percent); other goods and services (0.74 percent); culture, entertainment and tourism (0.72 percent). 

Director of the GSO’s Price Statistics Department Do Thi Ngoc attributed the hike to strong demand for food, beverages, cigarettes and electricity use during the Tet and massive rice purchase for exports to Indonesia and the Philippines. 

Public transportation costs also went up 3.34 percent due to surging travelling demand. 

Other factors reined in CPI growth such as falling gas and vegetable prices with respective decreases of 5.14 percent and 1.72 percent. 

The price of gold rose 1.83 percent month on months while the price of US Dollar remained stable. 

According to the GSO, core inflation in February (CPI exclusive of fresh food, energy and State-run health and education services) moved up 0.49 percent month-on-month and 1.47 percent year-on-year. The index for the first two months this year rose by 1.32 percent. 

Can Tho: Early industrial restructuring needed for breakthrough growth The Mekong Delta city of Can Tho needs to accelerate industrial restructuring, towards creating breakthroughs in its economic growth, a local official has said. 

During a recent meeting with representatives from departments and sectors, Vice Chairman of the municipal People’s Committee Truong Quang Hoai Nam urged the municipal Department of Industry and Trade to devise measures to promote industrial restructuring, especially high-tech industries. 

It is also necessary to adjust policies to encourage the development of support industry, and expand and development of new industries, he said.

According to reports at the meeting, Can Tho’s industrial production index (IPI) in the first two months of 2018 increased only 5.63 percent compared to the same period last year. 

Nguyen Minh Toai, Director of the municipal Department of Industry and Trade, said rice production and seafood processing are the main industrial sectors of Can Tho. 

He said the decreased IPI was resulted from the moderate operation of mechanical, seafood and construction firms, and production pause of consumer goods producers, food processors, and textiles plants during the country’s largest holiday – the Lunar New Year (Tet) Festival. 

Meanwhile, Nam said Can Tho is focusing too much on the rice production and seafood processing, so there were no changes in its industrial production structure for years. 

Chairman of the municipal People’s Committee Vo Thanh Thong asked the Department of Industry and Trade to roll out solutions to the issue, towards restructuring the local industry in the direction of increasing production value. 

He also requested the People’s Committees of districts to pay attention to facilitating construction projects in the locality because the sector is also one of the contributors to the IPI.

411 new FDI projects licensed in two months Vietnam granted investment licences to 411 new projects of foreign investors as of February 20, with a total registered capital of 1.39 billion USD which is equivalent to 68.6 percent of the figure for the same period last year.

In addition, 133 FDI projects registered for capital adjustment with additional investment of 700 million USD, a year-on-year fall of 8 percent, according to the Ministry of Planning and Investment’s Foreign Investment Agency.

Disbursements were estimated at 1.7 billion USD, up over 9.7 percent year-on-year.

In the reviewed period, there were 873 deals made by foreign investors to contribute capital to businesses and to buy shares of Vietnamese businesses with total capital of 1.25 billion USD, a year-on-year rise of 102 percent.

In total, the country attracted FDI worth 3.34 billion USD, or 98.2 percent of the figure of the same period last year.

Manufacturing-processing attracted the most FDI in the period with 1.83 billion USD, accounting for 54.6 percent of the total. Construction ranked second with 345 million USD and estate trading was third with 312 million USD, accounting for 10.3 percent and 9.3 percent of the total, respectively.

Among 60 nations and territories investing in Vietnam in the first two months, the Republic of Korean (RoK) was the biggest investor with 851.2 million USD, making up 25.5 percent of the total. It was followed by British Virgin Islands with approximately 450 million USD and Singapore with 418 million USD.

Ho Chi Minh City was the top destination for foreign investors, attracting 1.05 billion USD, or 31.27 percent, followed by Binh Duong (434 million USD), Ninh Thuan (253 million USD), or 12.98 percent and 7.6 percent respectively.

Large projects licensed in January-February included the 150 million USD Hanbaram wind-power project in Ninh Thuan province and the 80 million USD garment project funded by Ramatex Nam Dinh in Nam Dinh province, both of Singapore.

A project producing motor vehicle spare parts in Hai Duong province of the Kefico Vietnam Company added 120 million USD to its investment, and a solar panel factory of the Vina Cell Technology Company added 100 million USD.

January saw nearly 1.25 billion USD of FDI poured into Vietnam, equal to 75.9 percent of the figure in the same period last year.

In 2017, Vietnam remained an attractive destination for foreign investors with total FDI capital registered in the country hitting a record high of 35.88 billion USD, up 44.4 percent year on year.

FDI disbursement last year also reached a record high, increasing by 10.8 percent to 17.5 billion USD. 

Hanoi, HCM City both see CPI rise in February The consumer price index (CPI) of Hanoi and Ho Chi Minh City in February rose by 0.89 percent and 0.34 percent over the previous month, and up 2.86 percent and 2.41 percent year-on-year, respectively.

The rise was driven by the high demand for commodities and services during the Lunar New Year (Tet) festival, the country’s largest holidays in a year.

According to the Hanoi Statistics Office, compared with the previous month, increases were seen in most of the commodity groups, especially food and catering (2.17 percent). The prices of food, including pork, beef, poultry, seafood and vegetables, also surged in the period.

Housing, electricity, fuel and construction materials went down 0.08 percent while post and telecommunications declined 0.32 percent. 

In February, the city served 848,000 domestic visitors. Earnings from accommodation and catering services reached about 10 trillion VND (439.37 million USD) in the first two months of 2018, rising 11.5 percent against same period last year.

Hanoi’s export revenue is estimated to hit 2.09 billion USD in the Jan-Feb period, up 25.1 percent year-on-year while its import is valued at 2.49 billion USD, up 15.4 percent.

In the southern largest economic hub of HCM City, the prices of eight out of 11 commodity baskets recorded growth, with the highest rate seen in food and catering at 0.81 percent, reported the municipal Statistics Office on February 28.

Other goods with higher prices were other goods and services (0.75 percent); beverage and cigarettes (0.72 percent); culture, entertainment, and tourism (0.33 percent); telecommunications (0.18 percent); medicine and healthcare services (0.12 percent); transportation (0.6 percent) and education (0.01 percent).

Meanwhile, decreases were seen in housing, electricity, fuel and construction materials (0.1 percent); beverage and equipment and home appliances (0.03 percent).

The price of gold increased by 0.71 percent, while the price of US dollar declined 0.51 percent from that of January 2017.

Japanese bank to open office in Hanoi Japan’s Juroku Bank Ltd will open a representative office in Hanoi in the time ahead after getting a licence from the State Bank of Vietnam (SBV) in early February.

On February 2, SBV issued License No 32/GP-NHNN, permitting Juroku Bank to establish its representative office in Hanoi for five years.

Accordingly, the office will function as a liaison office for market research and promotion of investment projects of Juroku Bank in Vietnam.

The office will promote and monitor the implementation of contracts and agreements signed between the bank and credit institutions and businesses, as well as the bank’s financed projects in Vietnam.

It will also address the demand for loans from Japanese companies operating in Vietnam, especially those in the Tokai sub-region, where the bank’s headquarters is located.

The opening of the bank is a new opportunity for Japanese investment in Vietnam in 2018, with a predicted wave of investment coming from local, small and medium enterprises instead of giant corporations.

In a recent interview to the Vietnam Government Portal, Karashima Hiroshi, President of Japan Business Association in Vietnam (JBAV), said Vietnam was emerging as the No. 1 market in Asia for Japanese investors, as evident from a survey by Japan Bank for International Cooperation. The number of JBAV’s member enterprises investing and operating in Vietnam has increased by 1,750 companies (second only to Japanese firms in Thailand).

This partly shows that the business efficiency of Japanese firms in Vietnam is approaching closer to and catching up with those operating in Thailand, Hiroshi said.

Last year, Japan was the largest investor in Vietnam among 115 countries and territories with investment projects worth 9.11 billion USD in the country.

Import-export surges nearly 40 percent Vietnam’s import-export revenue amounted to 57.12 billion USD from the beginning of 2018 to mid-February, up 37.2 percent compared to the same period last year.

According the General Department of Vietnam Customs, a trade surplus of 1.67 billion USD was recorded in the period.

The foreign-invested sector’s import-export turnover was close to 11 billion USD within the first 15 days of February, down 18.1 percent from the last half of January.

Vietnam’s total foreign trade value was 425 billion USD in 2017. The value of exports was estimated at 213.77 billion USD, a year-on-year increase of 21 percent, higher than the annual growth rate of 9 percent in export value in 2016.

 Meanwhile, the value of imports in 2017 was estimated at 211.1 billion USD, 20.8 percent higher than 2016.

As a result, the country maintained a trade surplus of about 2.7 billion USD, the same figure as 2016. 

Businesses faces Tra fish material shortages Businesses are facing shortages of material Tra fish whereas the prices of Tra fish (pangasius) in the Mekong Delta is setting a record high, outstripping VND30,000 VND per kilo, thereby generating high profit to local farmers.

According to Duong Nghia Quoc, Chairman of the Vietnam Pangasius Association has attributed shortages of material Tra fish to a lack of breeding tra fish stocks, noting that there will be limitations in the supply of material Tra fish for exports in 2018 and the prices of exported Tra fish stand high throughout the year.

A representative of a seafood processing firm in Chau Doc city of southern An Giang province says  the company needs up to 200 tonnes of  Tra fish a day to meet growing export demand but it is suffering from the shortages.

Tra fish exports surged 4% to US$1.8 billion last year with China, the US and the EU still being Vietnam’s largest importers, says the Vietnam Association of Seafood Exporters and Producers (VASEP).

Binh Phuoc enterprises resume operation after Tet All enterprises in the southern province of Binh Phuoc have resumed their operation with 40,438 workers, or nearly 100 percent, returning to work after the week-long Lunar New Year (Tet) holiday.

In Dong Xoai II industrial park, many factories have reached 100 percent of their production capacity.

Vice President of the Binh Phuoc Labour Federation Do Thanh Lai said that many companies wish to recruit more workers to expand their production. A provincial survey showed that 88 firms in the province’s industrial parks need additional 12,000 unskilled labourers in 2018.

Meanwhile, the job floor under the provincial job placement centre revealed that this year local firms are in need of 30,000 workers, mostly unskilled labourers in garment and footwear sectors.

To attract more workers, the firms have offered numerous incentives to workers, vowing salary, bonuses and allowances totalling up to 8 million VND per month.

Wooden products, handicrafts to be showcased in HCM City The Vietnam International Furniture and Home Accessories Fair (VIFA – EXPO 2018) will take place in Ho Chi Minh City from March 7 to 10, said the city’s Handicraft and Wood Industry Association (HAWA) on February 28.

The event, covering an area of 30,000 square metres of the Saigon Exhibition and Convention Centre, will feature 1,980 booths, up 29 percent compared to the previous year.

HAWA Vice Chairman Huynh Van Hanh said VIFA – EXPO 2018 is the largest annual event of the wood industry as it gathers all wooden products, handicrafts, furniture and supporting services, meeting demand of consumers from all over the world.

More than 2,000 visitors from 95 countries and territories had registered to attend the event as of February 27.

Nghi Son oil refinery ready for operation The Nghi Son Oil Refinery and Petrochemical (NSRP) complex in the central province of Thanh Hoa is ready for official operation from February 28.

The refinery is scheduled to produce the first commercial oil products in May this year. 

Once become operational, the project will help ensure the national energy security. It is expected to contribute 10 trillion VND (436 million USD) to the local budget in 2018. 

Addressing a ceremony to announce the milestone held on February 28, General Director of the complex Turki Alajmi highlighted the strategic importance of the project, saying that it will help meet Vietnam’s increasing demand of petrochemical products to serve the country’s industrialisation and modernisation. 

He thanked the Vietnamese Government and local authorities for their support and facilitation to the project.

The NSRP is built in Nghi Son economic zone in Tinh Gia district. This is the largest national oil and gas project of the country with total investment of over 9 billion USD.

Japanese firm Idemitsu Kosan and the Kuwait Petroleum International Company (KPI) each contributed 31.1 percent of the total investment, while capital contribution rates of the Vietnam Oil and Gas Group (PetroVietnam) and another firm of Japan – Mitsui Chemicals are 25.1 and 4.7 percent, respectively. 

With its capacity of 10 million tonnes of petrochemical products per year, the Nghi Son petrochemical refinery complex is expected to help improve the self-reliance of Vietnam in producing refinery and petrochemical products.

Businesses striving to gain foothold for exports to Australia Vietnamese businesses need to make greater efforts to overcome barriers if they desire to gain entry into the Australian market which is seen as having untapped potential.

According to statistics from the General Department of Vietnam Customs,  last year’s bilateral trade between the countries increased by 22.1% to US$6.46 billion with Vietnam’s exports to Australia accounting for US$3.3 billion, a year-on-year rise of 15.1% while imports were increased  by 30.5% to US$3.1 billion.

Some of the products behind the strong export growth are cameras and components (up 329.3%), crude oil (up 69%), vehicles and spare parts (up 62%), and steel (up 61.7%). While the product areas in which Vietnam holds a distinct advantage made no significant breakthroughs in export earnings.

Nguyen Thi Hoang Thuy, head of the Vietnam Trade Office in Australia notes Australia as a choosy market with strict regulations on technical and product quality standards for imported goods based on its consumer protection policies.

This is seen as the reason why the volume of Vietnamese products in the market stands at less than 2%.

Substandard Vietnamese products and little investment in building brand names remain a major obstacle hindering domestic businesses from boosting exports to the highly lucrative market, especially most of its products exported to Australia are primarily raw and unprocessed materials.

However, Vietnam needs to capitalize on the ASEAN-Australia-New Zealand Free Trade Agreement (AANFTA) by fully grasping the details of the deal to bolster exports to Australia, particularly when 90-100% of total tax lines have been cut for the period covering 2010 to 2020.

Regarding the Australian market, exporters to the oceanic country say Australian customers pay no or little attention to the origins of imported products whereas they care about the quality, patterns, and prices, which are inherently weak points of Vietnamese products.

For their success in the potential market, Ms Thuy has urged domestic businesses to stay active in access to up-to-date market information, take full advantage of FTA preferences, and put product quality first.

In addition, it is essential for businesses to intensify proper investment in developing a material zone which is up to international standards and  partner with each other to form production chains in order to sharpen competitive edge, she says.

She also assures the Vietnam Trade Office in Australia’s readiness to provide domestic businesses with updated information on tax policies, distribution networks, import regulations, and FTA preferences via its website to facilitate their market penetration.

Giant solar power plant to start operation this year Gia Lai Electricity JSC’s Phong Dien solar power plant is expected to start operation in September and generate power for 32,628 households.

Gia Lai Electricity JSC, a subsidiary of TTC Group, has just signed an EPC contract with the consortium of Asian electronics giant Sharp Corporation (Japan), Sharp Solution Asia (SSSA) (Thailand), and NSN Construction and Engineering JSC to construct the Phong Dien solar power plant.

Sharp is a multinational electronics corporation based in Sakai, Japan, and has been an integral part of Taiwan-based Foxconn Group since 2016.

The plant is located on 45 hectares in Phong Dien district of Thua Thien-Hue province in the Central Coast. The plant is expected to start operations in September 2018, generating enough power for 32,628 average households in Vietnam, or around 0.1 per cent of the country’s population.

The supply will help reduce CO2 emissions by around 20,500 tonnes a year compared to coal-fired power plants, which play a key role in Vietnam’s energy chain.

The total project investment is nearly VND700 billion ($31 million), 40 per cent of which comes from investors and the remaining 60 per cent from banks.

This is the first solar power plant that TTC Group will start in the country, while planning to deploy other projects in Tay Ninh (324MW), Binh Thuan (300MW), Ninh Thuan (300MW), and Gia Lai (49MW).

Thai Van Chuyen, general director of TTC Group, said that solar and wind power are two sectors to keep an eye on in the coming time as total investment capital will reach around US$1billion by 2020.

Solar power currently accounts for 0.01 per cent of the country’s total power output, but the government plans to increase the ratio to 3.3 per cent by 2030 and 20 per cent by 2050.

Vietnam is aiming to produce 10.7 per cent of its electricity through renewable energy by 2030, mainly through solar and wind energy.

Sharp rise in January exports of cement and clinker Vietnam’s cement and clinker exports for the first month of the year have seen a marked increase, according to the General Department of Vietnam Customs.

The country’s exports of cement and clinker bore out respective increases of 121% in volume and 112% in value compared to the same period last year, reaching 2.9 million tons, valued at US$101.12 million. 

The export price of cement and clinker in January dropped by 4.6% against December 2017, to an average of US$34.8 per ton.

Bangladesh remains the largest of the 12 major consumers of Vietnam’s cement and clinker products, accounting for 31.3% of the country’s total exports, trailed by the Philippines.

Cement and clinker exports to nearly all foreign markets in January witnessed a rise against last year’s corresponding period. 

Especially, exports to Taiwanese market increased remarkably with a 545.6% rise over the reviewed period comprising 161,407 tons valued at US$4.88 million.

Kido acquires manufacturing and processing firm Vietnam’s leading food firm Kido Corporation (Kido) has completed the negotiations for the purchase of a food manufacturing and processing firm which has an annual revenue of VND1.6-2 trillion ($70.4-87.9 million).

This was announced by Tran Le Nguyen, the general director of Kido. Nguyen added that in 2018, Kido expects to achieve a breakthrough in business results with the aim to acquire VND12 trillion ($527.68 million) in revenue and VND800 billion ($35.2 million) in pre-tax profit, signifying increases of 68 and 40 per cent.

According to Nguyen, this year, the company estimated to earn an additional VND2.5 trillion ($109.9 million) in revenue from instant noodles, beverages, and sauces. 

Especially, in the instant noodle segment, Kido will co-operate with an unidentified Thai firmto expand manufacturing and distributing operations.

Besides, Kido will partner up with another Thai firm to establish a joint venture company specialising in manufacturing tea and drinks mixed with milk.

Furthermore, in order to realise these targets, Kido spent massive efforts to integrate Vocarimex and Tuong An, which had different corporate cultures as well as working processes.

The highlight of Kido’s business results last year was the soaring revenue thanks to the contribution of newly acquired Vocarimex and Tuong An.

Notably, Kido reported a net revenue of over VND7 trillion ($308.2 million), doubling the 2016 figure, with a gross profit of VND1.49 trillion ($65.6 million) and pre-tax profit of VND569 billion ($25.05 million).

Along with the acquisition of Vocarimex and Tuong An, Kido teamed up with TTC Group to produce and distribute sugar. 

The two signed a strategic partnership in Ho Chi Minh City to increase market presence. Accordingly, Kido will distribute 60,000 tonnes of Bien Hoa Sugar in 2018. The sum is projected to reach 200,000 tonnes by 2020.

Under the plan, Kido will exclusively distribute some of TTC’s refined sugar products via its network of 200 distributors and 450,000 retail points. In addition to distribution, Kido will be responsible for achieving annual sales targets and expanding product coverage. 

Meanwhile, TTC will produce sugar and grant distribution rights over some of its products to Kido.

BSR’s share value reaches ceiling price on first day on UpCOM Binh Son Refining and Petrochemical Company Limited (BSR)’s shares soared in value on the first day of transaction on the Unlisted Public Company Market (UpCOM), reaching the ceiling price of VND31,300 ($1.38) from the reference price of VND22,400 ($0.98).

This morning, BSR listed 241.4 million shares on the UpCOM. Within the morning, share value increased by 40 per cent compared to the reference price. Ending the transaction this morning, 11.73 million shares were traded at the average unit price of VND31,000 ($1.36).

Previously, BSR reported a successful initial public offering (IPO) with a complete take-up of the offered shares and the record selling unit price of VND14.8 million ($651.69).

The average selling price was VND23,043 ($1.01), 57.8 per cent higher than the initial price. The lowest selling price was VND20,800 ($0.92). Of particular note, an individual investor succeeded in buying 10,000 shares at the record price of VND14.8 million ($651.69) apiece.

Regarding the race to become the strategic investor, to date, Petrolimex and Indian Oil have officially submitted the applications.

Numerous foreign investment funds won at the IPO with high buying prices, two of which are Vietnam Opportunity Fund (VOF)—a member of VinaCapital—and Dragon Capital. VOF spent $25 million acquiring a 10 per cent stake in BSR.

After the IPO, BSR earned VND5.57 trillion ($245.26 million) in proceeds, 1.5 times more than it expected.

Besides, Russia’s top energy firms Rosneft and Gazprom Neft, Thailand’s PTT, and Kuwait Petroleum Corporation signalled intentions to join the race. However, no official movements have been implemented.

The post News VietNamNet appeared first on Breaking News Top News & Latest News Headlines | Reuters.

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