Industrial and trade developments from the press review on December 5, 2019
I. Administration and Media Cooperation
- Communication Strategy: Specifically, the Ministry of Industry and Trade (MoIT) signed a cooperation agreement with Vietnam Television.
- Interactive Mechanism: Furthermore, they aim to build an interactive communication mechanism to improve transparency.
- Bureaucracy Issues: However, experts highlight that businesses still face a heavy administrative burden.
- Permit Challenges: Specifically, some companies must visit ten different ministries for a single work content permit.
- High Costs: Consequently, this lack of coordination leads to high training fees and repeated procedures.
II. Macroeconomics and Retail Trends
- Unlocking Resources: Regarding the economy, the Prime Minister wants to unlock private investment for development.
- Future Focus: Therefore, the government will prioritize institutional reforms throughout 2020.
- Market Mergers: Moreover, the merger between Vingroup and Masan is expected to increase retail competitiveness.
- Retail Appeal: Notably, Vietnam’s retail market remains highly attractive to foreign investors from Singapore.
III. Energy and Renewable Projects
- Project Expansion: Regarding petroleum, a Thai investor wants to increase capital for the Long Son project to $5.1 billion.
- Project Delays: Conversely, a solar power project in Thanh Hoa remains empty after three years of development.
- Price Controversy: Meanwhile, there are concerns regarding the low electricity prices offered by the Bac Lieu LNG project.
- Water Shortages: Additionally, many hydropower reservoirs currently have water levels much lower than the yearly average.
- Land Issues: Finally, a wind power project in Gia Lai is accused of using agricultural land at very low prices.
IV. Industrial and Export Performance
- Footwear Growth: Specifically, footwear exports increased by 12.5% due to the EVFTA and CPTPP agreements.
- Steel Barriers: In contrast, the steel industry is facing difficulties due to trade defense measures abroad.
- Raw Materials: Therefore, MoIT advises steel firms to become self-sufficient in raw materials to avoid lawsuits.
- Auto Struggles: Regarding manufacturing, many large automakers are suffering losses despite heavy investments.
- Cassava Forecast: Notably, cassava prices are not expected to drop further due to limited supply.
V. Domestic Market and E-commerce
- Pork Crisis: Regarding food, pork prices are rising across the entire country,.
- Supply Solutions: Consequently, authorities suggest extending the pig-raising period to increase the national meat supply.
- National Brands: Furthermore, MoIT issued three specific criteria for selecting products for the National Brand program.
- Amazon Entry: Notably, Amazon officially entered Vietnam by partnering with T&T Group and SHB,.
- Corporate Welfare: Finally, EVN is providing free electrical repairs for over 7,500 poor households nationwide.
Clarification: Would you like more details on the new National Brand criteria or the specific debt status of the Long Son project?
