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PRESS WATCH

March 29

Released at: 16:08, 29/03/2018 PRESS WATCH

March 29

VET's round-up of news from Vietnamese media for March 29.

Vinamilk opens high-tech dairy farm in Thanh Hoa

Vinamilk opened a high-tech dairy farm in north-central Thanh Hoa province on March 28. Covering a total area of 40 ha in Thong Nhat town, Yen Dinh district, the facility was built with investment of VND700 billion ($30.5 million). With a designed cattle population of 4,000, the farm was granted GLOBAL GAP (Good Agricultural Practice) certification in recognition of its farm management, raw milk quality, and application of state-of-the-art technology. The farm is the first of its kind to be built at the Vinamilk Thanh Hoa dairy farm complex, which is designed to have four high-tech farms with a combined milk supply of 110 million liters per annum by 2020.

PM gives new Tan Son Nhat terminal the green light

Prime Minister Nguyen Xuan Phuc has decided to expand Tan Son Nhat International Airport in accordance with a proposal from ADPi. A new 20-ha terminal will be built with a capacity of 20 million passengers at the southern end of the airport, next to the existing terminals. It is estimated to cost a total of VND18 trillion ($800 million).


Q1 GDP growth projected at over 7%

Vietnam’s GDP is projected to grow over 7 per cent this quarter, the highest first-quarter rate in ten years, Deputy Minister of Planning and Investment Le Quang Manh told a meeting on March 27. The meeting of the macro-economic management group, comprising the Ministries of Planning and Investment, Finance, and Industry and Trade, together with the State Bank of Vietnam, heard that the industry and construction sector lies behind the strong economic growth, increasing 11 per cent. The service sector has also been performing well, backed by rising consumption. Agricultural growth has been positive thanks to favorable weather conditions and production restructuring, while aquaculture has also improved.


Trade up 37% in March

Total trade revenue in March is estimated at $38.8 billion, a rise of 36.8 per cent against February, according to the General Department of Vietnam Customs. Exports are calculated at $19.8 billion, a rise of 38.2 per cent month-on-month, while imports are $19 billion, up 35.4 per cent. Total trade revenue is likely to hit $107.32 billion in the first quarter, up 17.7 per cent year-on-year, including exports of $54.31 billion and imports of $53 billion.


2017 trade with Canada at $4.76bn

Trade between Vietnam and Canada reached C$6.136 billion ($4.76 billion) in 2017, the Consulate General of Canada in Ho Chi Minh City announced in a press release. Canada has seen Vietnam become its largest trading partner in ASEAN. Agri-food and seafood are both important components of bilateral trade.

MoIT seeks report from Grab on Uber purchase

The Ministry of Industry and Trade (MoIT) has requested Grab report on its purchase of Uber in the Southeast Asian market, including Vietnam. Deputy Head of the Ministry’s Vietnam Competition Authority (VCA) Trinh Anh Tuan said his office has sent a dispatch asking the Singapore-based GrabTaxi Holdings Pte Ltd to provide all related information and documents on the deal. The requirement conforms to Clause 2, Article 7 of the Law on Competition, which stipulates that MoIT has the responsibility for controlling all economic concentration activities in Vietnam. Under the Law, merger and acquisition (M&A) deals that greatly affect market competition are limited.


Australian steel import investigation finds in Vietnam’s favor

A year-long Australian investigation into steel rods imported from Vietnam has concluded that there was no breach of anti-dumping policies, the Vietnam Steel Association (VSA) said. The Australian Anti-Dumping Commission (ADC) released the results of the investigation on March 26, concluding a lawsuit filed against Vietnam, Indonesia and South Korea by an Australian firm. The dumping rate for steel rods in coil exported to Australia by the Hoa Phat Group, the Vietnamese defendant, was only 1.3 per cent, lower than the maximum legal threshold of 2 per cent. Thus, the ruling was in Vietnam’s favor and the ADC decided to end the investigation.

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