Shrimp – Farm gate Prices – Andhra Pradesh – 28th June, 2015

Farm gate Market price for vannamei shrimp at Bhimavaram, Andhra Pradesh, India as on 28th June,2015 are as below. 

Count/ Kg	Price (Rs)
30	400
40	300
50	270
60	240
70	220
80	200
90	170
100	160
200	90

  * Prices were collected from Local traders, Farmers during purchases.

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SHRIMP PRICE DROPS DUE TO SLUGGISH MARKET

Shrimp exports from India are having a negative impact in the crustacean price as a consequence of demand slump, recession, Japanese currency weakening and overstocking in the main markets.

Sector sources consulted by FIS.com explained that these factors may affect Indian seafood exporters’ profitability in the current fiscal year, especially in the case of frozen shrimp sales, which account for 70 per cent of the total export value of the crustacean.

“Globally the buyers are going for smaller sizes which cost less. This seems to be the new trend across the US, Europe and Japan. While Europe is yet to come out fully from recession, increased health awareness is forcing the US consumers to buy smaller size shrimps,” said Kamlesh Gupta, founder chairman of WestCoast Fine Foods, an exporter who also operates aquaculture farms, The Economic Times reported.

According to Globefish, a unit of FAO fisheries and aquaculture department that reports on international fish trade, the demand has been muted in the US since January 2015 because of large unsold stocks imported in 2014.

Meanwhile, market experts pointed out that the global production of farmed shrimp increased from 3.4 million tonnes to 3.6 million tonnes in 2014, with Asian producers accounting for 3 million tones. These sources also explained that the demand is weak from all major markets of the US and Europe.

Another issue affecting purchases from the Asian market is the fact that the US Food and Drug Administration (FDA) has refused the entry of certain consignments of shrimp exported from India, Malaysia and Vietnam, since the shrimp was found contaminated with banned antibiotics, The Hindu informed.

The refusals involved six different companies from the three countries. Two Indian companies feature in the list – Sharat Industries and Sandhya Aqua Exports from Andhra Pradesh.

On the other hand, Abraham J Tharakan, President of the Seafood Exporters Association of India (SEAI), told BusinessLine that exhaustive testing of shrimps was conducted at various levels before exporting from India.

“Our shipments to the US are USD 2 billion. Stray cases do tend to go unnoticed, but these are very rare and the numbers (rejection) have fallen considerably,” he stressed.

Stating that the Marine Products Export Development Authority (MPEDA) guidelines were rather strict, an executive from Sharat Industries pointed out that the banned consignment would be brought back to India.

“We check the code under which is has been rejected, we reprocess the cargo, and if the residual level is acceptable, we re-export it. Usually, if one grade has failed, we test for other grades,” he stressed.

The spokesperson also remarked that around 40 containers from different Indian exporting companies are regularly rejected by the USFDA.

“Around 5 per cent of exports tend to get rejected. Though we have testing that is conducted in-house as well as by government agencies, minute testing facility is not available in India,” he admitted.

A reduction in the number of shrimp entry lines rejected by US Food and Drug Administration’s (FDA) for containing banned antibiotics was noted in May in comparison to the first four months this year, but the number is still deemed significant.

A report released by the FDA indicates that this federal agency in May prevented 103 seafood entry lines, of which 12 (12 per cent) were for shrimp contaminated with banned antibiotics.

So far this year, the agency has now refused a total of 203 entry lines of shrimp products for the same reason.

The shrimp lines rejected in May at various ports throughout the United States had been exported by six different companies from three Asian countries: Malasya, Vietnam and India:

• Seng Enterprise Seafood Supplier (Malaysia);
• Ria Budimas Trading (Malaysia);
• Fishergold Cold Storage Sdn. Bhd. (Malaysia);
• Quoc Viet Seaproducts Processing (Vietnam);
• Sharat Industries (India);
• Sandhya Aqua Exports Pvt. Ltd. (India).

Southern Shrimp Alliance stressed that so far this year, the FDA has reported refusing 138 entry lines of shrimp shipped from Malaysia for reasons related to veterinary drug residues, 30 entry lines of shrimp shipped from Vietnam, 25 entry lines of shrimp shipped from India, 9entry lines of shrimp shipped from China, and 1 entry line of shrimp shipped from Indonesia.

The organization also remarked that tor both Malaysia and India, there have now been more shrimp entry lines refused by the FDA for reasons related to antibiotics in the first five months of this year than in any prior year reported by the FDA.

Meanwhile, for Vietnam, the only year in which more shrimp entry lines were refused by the FDA for reasons related to antibiotics than 2015 was last year.

INDIA SEEKS TO EXPAND MARINE FOOD EXPORTS TO AFRICA

India, which has made a big impact at Africa’s biggest trade shows, wants to start exporting its marine products to the African continent.

A 50-member delegation from the Ministry of Commerce and Industry participated in Africa’s biggest trade fair — the South African international trade exhibition (SAITEX) — that started here yesterday.

“It is the first time we have come to such a large exhibition in South Africa to showcase India as the biggest producer of vannamei and a host of other aquaculture products with our land farming of fish,” said Leena Nair, Chairman of the Marine Products Export Development Authority.

“We are looking at value-added processed seafood coming in here,” Nair said.

Preetha George, a marine products exhibitor and Executive Director of Starfish Exports from Cochin, said there would be a market in South Africa for cultured shrimps known as ‘vannamei’ in India, as well as squid rings, both of which were quite popular here.

The Spices Board of India took up four of the stalls in the Indian section as its members attempted to grow its markets in Africa.

“Many of our members have been very happy with our participation at this fair in the past, hence there are more this year,” Spices Board chairman A Jayathilak told PTI.

“There is increasing demand for Indian spices with the great growth in the number of Indian restaurants and popularity of the spices with other communities as well,” Jayathilak said.

Jaspeer Kaur, deputy manager of the India Trade Promotion Organisation, which brings the delegation from India each year at SAITEX, said the subsidy provided by the Indian government enabled even the smallest companies to participate in the event.

Opening the Indian stand at SAITEX, High Commissioner Ruchi Ghanashyam said Indian business houses were participating in large numbers because South Africa has a mutually beneficial trade relationship with India.

HOW TO CONTROL MICROSPORIDIAN PARASITES IN SHRIMP FARMS

 A type of microsporidian parasite is severely affecting aquaculture in Asia. This report by Dr Stephen Newman addresses best practice in reducing the pathogen. Taken from the Global Aquaculture Advocate, a Global Aquaculture Alliance publication.

Enterocytozoon hepatopenaei (EHP), a microsporidian parasite that has been widely found in Asia and other parts of the world, is impacting aquaculture production by severely retarding the growth of cultured shrimp.

Although the most common pathology associated with microsporidians is a whitish discoloration in muscles due to spores that can stunt growth and cause other types of problems, EHP is different.

It only infects the tubules of the hepatopancreas in shrimp, which damages the ability of this critical organ to gain nutrition from feed. It is widely understood that EHP does not cause mortality but heavily limits growth.

Formerly classified as protozoa, genomic taxonomy has determined that microsporidians are closely related to fungi. About 100 genera of microsporidians are known to infect crustaceans and fish.

EHP is now endemic throughout China, Malaysia, Thailand, Indonesia and Vietnam, and likely present in India and possibly Mexico.

It can likely be found anywhere that has imported live feeds from China and animals from areas where EHP is endemic.

EHP is very difficult to eradicate. More than likely, we will only be able to control its levels.

HOW IS EHP DETECTED?

The pathogen can be detected using gene-based tools such as polymerase chain reaction (PCR) and loop-mediated isothermal amplification testing of feces from broodstock. These methods can also be used with postlarvae.

Light microscopy can be used, as well, although it can be very difficult to visualise the very small spores. Although effective, screening broodstock entails examination of individual animals, a costly practice.

In some areas, there may be no animals totally free of the pathogen.

EHP TREATMENT

Microsporidian infections are typically treated with a specific class of drugs that is unlikely to be effective against EHP because of its target tissue specificity.

Dealing with the problem entails a three-prong strategy incorporating biosecurity in the hatchery, proper pond preparation and proper pond management during the growth cycle.

Total elimination of microsporidians may not be possible. The best approach is to lessen the loads coming into ponds and control the levels the ecosystem allows. The direct vector of EHP in ponds has not yet been identified.

BIOSECURITY IN HATCHERIES

Proper practices and procedures for biosecurity in hatcheries can help control EHP.

No Live Feeds

Pond-reared adult broodstock, as well as those fed infected live feeds, can be infected and spread EHP through faeces.

The use of live animals – including polychaetes, clams, warmwater squid and locally produced Artemia – in broodstock maturation facilities poses a significant biosecurity risk and should be discouraged.

Live feeds such as krill do not pose a risk. If live feeds are used, they should be frozen, pasteurised or even irradiated.

Disinfection

Maturation facilities and hatcheries should be dried out completely, washed and then disinfected with a caustic solution of sodium hydroxide. It has been suggested that all equipment, pipes and tanks should be soaked in a 2.5% sodium hydroxide solution for at least three hours.

After this, the remaining caustic solution should be washed away, and all of the treated materials allowed to dry for an extended period. Rinse before use with acidified chlorine at 200 ppm and pH less than 4.5.

Microsporidian spores are extremely resistant to most treatments, and complete elimination will prove challenging. The goal is to substantially lower the load.

Clean Eggs, Nauplii

Proven strategies for washing and rinsing nauplii with the appropriate mix of freshwater and chemicals (iodine and formaldehyde, among others) that can weaken the passive attachment of spores to eggs and nauplii – thus lessening transmission – must become routine.

This is an effective tool against EHP, as well as for lowering the loads of the bacteria that cause early mortality syndrome that pass from broodstock to postlarvae.

POND PREPARATION

High organic loads typically relate to spore loads. There is likely some intermediate vector, and until we are sure what it is, use strategies to properly treat sediments before stocking.

As spores typically are resistant to a wide variety of environmental conditions, with different species displaying differential susceptibility, the general suggestions are to physically remove accumulated organic matter and treat pond bottoms with a very caustic material to bring the pH to 12 and kill many of the spores. Killing all of them may not be possible.

It has been recommended that earthen ponds be disinfected with very heavy use of calcium oxide, or quick lime, applied at a level of 6,000 kg/ha or greater.

Pond bottoms must be completely dry. Plow the quick lime into the dried sediments to a depth of 10 to 12 cm, then moisten the sediments to activate the lime.

If the application is done properly, the pH of the soils will rise to 12 or more within days and then gradually return to normal as the quick lime becomes calcium carbonate.

POND MANAGEMENT

After the soils have recovered, use suitable commercial products from the early stages of culture to prevent the accumulation of large amounts of organic matter. These can be used alone or in combination with water exchange.

The goal is to lessen the amount of accumulated organic matter and thus reduce the potential reservoir for spores that will be ingested and continue to infect shrimp. Consistent use at levels that lessen the amount of organic matter is important.

PERSPECTIVES

Reducing the load of spores in the production environment by reducing their false vertical transmission as a result of contaminated surfaces due to spawning, in combination with aggressively limiting the reservoirs for spores, will reduce the severity of EHP.

Consistent use of these methods should lessen the long-term impacts and reduce the environmental load of spores.

TWO CARGILL FEED MILLS ATTAIN BEST AQUACULTURE PRACTICES (BAP) CERTIFICATION

MINNEAPOLIS, June 30, 2015 /PRNewswire/ — As Cargill expands its presence in aquaculture, two of the company’s feed mills were recognized with the Best Aquaculture Practices (BAP) certification. The two feed mills, the Bufalo, Villanueva facility in Honduras and the Masaya, Carretera facility in Nicaragua, can now provide customers four-star BAP-certified feed, the highest designation in the BAP program.

Best Aquaculture Practices, a division of the Global Aquaculture Alliance (GAA), is an international certification program based on achievable, science-based and continuously improved performance standards for the entire aquaculture supply chain, from farms and hatcheries to processing plants and feed mills.

“Important to both our customers and the consumers they serve, the standards set by BAP address every element of responsible aquaculture, such as environmental responsibility, social responsibility, animal welfare, food safety and traceability, and are benchmarked against the latest Global Food Safety Initiative food-safety requirements,” said Gerardo Quintero, managing director of Cargill’s compound feed business in Central America.

“In Cargill’s animal nutrition business, we have a passion for aquaculture and a strong commitment to growing this business segment,” said Mario Chong, business development manager for Cargill’s aquaculture business in Central America. “By becoming BAP-certified inHonduras and Nicaragua, we can fuel that growth and demonstrate our commitment to our customers by delivering this additional benefit.”

“We are very excited with the growth and acceptance of the BAP program in both Central andSouth America,” said Peter Redmond, BAP vice president of market development. “The industry has recognized and reacted strongly to the fact that aquaculture is a supply chain in production, primarily starting with the feed mill and ending up with the processor. Cargill’s leadership position on this is a very bold move and enhances the value and importance of four-star BAP product being delivered to the actual marketplace, not a literary one.”

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Malaysian scientists recommend ways for sustainable tilapia farming, an important resource for the country’s freshwater fish needs.

Fish farming, or aquaculture, began in Malaysia as early as the 1920s, with the 1990s ushering in intensive commercial production. It is a rapidly growing sector that has witnessed a growth rate of ten percent in the last five years. According to the Food and Agriculture Organization, Nile tilapia accounts for 44.7 percent of the total freshwater aquaculture production in Malaysia, followed by catfish and carps.

Despite rapid growth in the sector and the high potential of tilapia fish farming in Malaysia, poor development of the fish, high mortality, and losses due to disease and low economic return are common in tilapia farms.

To achieve sustainably high yields, Malaysia’s department of fisheries began a breeding program in 2002 to develop genetically improved farm tilapia (GIFT). Scientists at Universiti Sains Malaysia, the National Prawn Fry Production and Research Centre, and the World Fish Centre examined the strain’s growth performance and how genetic selection affected harvest weight over a ten-year period.

They found significant genetic improvement in harvest weight in the GIFT population and concluded that the strain was a valuable genetic resource for the aquaculture industry. They recommended the implementation of a systematic approach to brood stock management and dissemination to ensure the effective use and sustainability of the strain.

Genetic improvement is one way to boost fish farming in Malaysia. However, there remains a need for other measures to prevent severe economic losses due to infection of cultured tilapia with Streptococcus. This is a gram-positive bacterium that has caused considerable morbidity and mortality in cultured fish stocks worldwide. It is estimated, for example, that streptococcosis resulted in a loss of US $250 million in the cultured fish industry in 2008 alone. Recent outbreaks have been reported all over the Malaysian peninsula in wild and cultured tilapia and have resulted in high mortality rates.

Scientists at Universiti Putra Malaysia and the Fisheries Research Institute reviewed recent research to analyse potential control and prevention measures for streptococcal infection in cultured tilapia. Among their recommendations based on the review was the establishment of tilapia fish farms in sites with moderate rates of water flow, such as upstream in rivers and in irrigation canals. They said that juvenile tilapia fish used for fish farming must come from disease-free hatcheries. Also, stock densities in fish farms need to be monitored and modified as fish size increases. And water quality must be continuously monitored, while antibiotics and vaccination regimes should be introduced, they said.

- See more at: http://aquaculturedirectory.co.uk/selective-breeding-and-immunization-improve-fish-farm-yields/#sthash.HkodOBTz.dpuf

New technology to grow all male prawns in Kerala

KOCHI: An Israeli scientist working from a laboratory in the Israeli desert of Negev has developed a breakthrough technology which could impart a significant impact on the revenues of the freshwater prawn (scampi) farmers in the salubrious lake districts of Kerala. 

Amir Sagi, a professor at Ben Gurion University of the Negev has developed the technology to grow all-male freshwater prawn population, which could grow three times larger than the female ones over a six month period. Marine Products Export Development Authority (MPEDA) had been working closely with Sagi in introducing this technology among farmers in major prawn farming states of India. 

According to Sagi, the most important aspect of the technology is that it is not genetically modified. "Totally normal technology, but producing only male prawns that was the concept," he said. 

"During 2006 we started working on the gene and then by 2007 we discovered the new technology. Initially we used scampi from Israel. Then we started working on three best different prawn lines of India - Gujarat, West Bengal and Kerala. We are working with Rajiv Gandhi Centre for Aquaculture (RGCA) and MPEDA and have found that the scampi from West Bengal and Kerala are the best in the country," Sagi said. Apart from India, China, Vietnam and Myanmar are currently using Sagi's technology to boost their productivity. 

Sagi and his team are now working on a similar technology to be used for brackishwater prawns. "For the seawater prawns, the females grow faster than males, hence you need to develop all-female technology. We are currently working on that, which will be ready sometime in the future," he said.

Prawn farmer Seafarms has big plans for northern Australia

The prawns are growing fast in the seawater ponds at Cardwell on the edge of the stunning Hinchinbrook channel in far north Queensland, owned by recently rebranded public company Seafarms Group.

It’s a sight that delights Seafarms’ aquaculture director Dallas Donovan, who has turned the poorly performing Cardwell prawn enterprise around since it was bought from Togo Group founder and Medina-Vibe accommodation mogul Ervin Vidor early last year for $11.2 million.

Already production has lifted from 600 tonnes to more than 1400 tonnes a year from the two existing Cardwell farms. A third farm has been purchased for $4.2m at nearby Ingham and the company has diversified from ­banana prawn farming into more popular tiger prawns.

Seafarms is now Australia’s biggest grower of cultivated prawns, supplying 25 per cent of the local market worth a highly profitable $15,000 a tonne, and has Australia’s largest commercial “baby” prawn hatchery at ­Innisfail.

With 150ha of prawn ponds in full production, major contracts with Coles and Woolworths, a revamped marketing strategy under its Crystal Bay prawn brand, and local consumer demand vastly exceeding supply, it sounds enough to keep Donovan both busy and happy. But for the experienced Australian-born prawn manager who previously ran a vast 3500ha prawn farm in Saudi Arabia, Seafarms’ north Queensland base is little more than a bright beginning — a profitable but small-scale pilot program.

The real game for ASX-listed Seafarms Group is Project Sea Dragon, an ambitious $1.5 billion aquaculture project it intends to build at ­Legune Station on the Northern Territory-Western Aus­t­ralia border.

The $56m company, previously listed as the Commodities Group, proposes to build 10,000ha of saltwater ponds stretching across the estuary and floodplains of the Victoria and Keep rivers, producing an astounding 150,000 tonnes of tiger prawns, mainly for export to Asia. But the company also has its eye on the high-priced Australian ­market.

It hopes to get its costs of production low enough with scale to replace the 30,000 tonnes of cheap prawn imports from Vietnam and Thailand now flooding into Coles and Woolworths every year at less than $20 a kilogram, and to compete with the 18,000 tonnes of wild-caught Australian prawns from the Gulf of Carpentaria and the Queensland coast, the supply of which is dwindling.

“Everything we do is not just about getting our Queensland farms running better but about getting ready to run Sea Dragon in the Northern Territory,” says Donovan. “Sea Dragon will all be about industrialised aquaculture on a scale never before seen in Australia. It has to be low-cost, highly automated production both because of our remote location and so we can compete, and that means we have to have the best genetics, the best management and farming systems and the people all in place before we start.”

There have been doubts about the Sea Dragon project ever since the idea was first floated in 2011 by the founder of the WA-based Seafarms Group, Ian Trahar.

Originally the aquaculture project was a vague concept based on big prawn ponds and algae tanks fed from underground aquifers and excess water expelled from some of the major mines in the Pilbara region. Prawn specialists ridiculed the scheme and said it would never happen.

But Seafarms may have the last laugh.

Since acquiring its north Queensland prawn farms early last year, turning the company into a major player with aquaculture expertise and marketing power, more observers have started watching the progress of Sea Dragon with interest.

A second big plank in the company’s advancement was its $57m acquisition — at this stage expressed as a three-year purchase option — over the 180,000ha Legune cattle station. The announcement instantly moved the project to a more credible coastal location with excellent access to plentiful freshwater and seawater, relative proximity to the fast-growing East Kimberley agricultural town of Kununurra, the potential for its own shallow barge jetty and good access to Kununurra airport and nearby Wyndham deep port.

In a third strategic move, Seafarms’ Innisfail prawn hatchery has just won the right to become the centre of excellence for the field of prawn genetics and genomic advancement as part of a $5m Australian Research Centre program, placing it way ahead of other companies in improving the potential growth rates and productivity of its prawn broodstock. Finally, when the federal government unveiled its northern Australia strategy last week, top of its list of priorities was expanding development in the Ord agricultural zone, and sealing the Keep River road towards Legune station, with the investment and export potential of Project Sea Dragon getting a special mention.

“It is the core focus of our business — in many ways, we are an Ord stage 4 development,” Seafarms executive chairman Ian Trahar said yesterday from China, in reference to the tripling of the size of the Ord’s irrigated area in three stages. “We will provide hundreds of jobs, we will have a processing factory at Kununurra, we will need 737 freighters flying fresh prawns out to Mumbai, Tokyo and China from a longer runway at Kununurra. Everything we do now as a company is about executing Project Sea Dragon.’’

The next stage for Seafarms is raising $20m for its feasibility study. Trahar is confident that task is almost complete.

Before pension funds and investors are prepared to throw their weight behind the project — and its first $150m phase with 1000ha of prawn ponds in production by 2017 — extensive government approvals, native title agreements and environmental impact studies must be completed around its Legune location.

“It sorts out the risks and reduces them to a level where banks and equity investors are prepared to look at the Sea Dragon project seriously,” says Seafarms’ business development manager and chief accountant Ian Leijer.

“It’s really saying we have a regulatory and approval licence to operate even before we start ­construction.”

Donovan says he is astounded by the potential of northern Australia for large-scale industrialised aquaculture.

Its remote location, away from industry, pollution and other aquaculture operations, means it is as protected as possible from unwanted diseases, the greatest risk to big prawn farms.

But its isolation also adds challenges, such as how to get large amounts of prawn pellets and feed to Legune and how to transport a constant supply of healthy young juvenile prawn stock from a future Seafarms hatchery in Darwin to the site. (A direct barge appears to be the best option at this stage.)

The company has also spent much time bringing seven international aquaculture managers from South America, the Middle East, The Philippines and India to Australia under 457 visas, together with their families — men such as Seafarms production manager Filipino Jairo Llanos, who will form the nucleus of the future ­Legune team. More than 200 workers will also be needed as the project expands on-site, with Trahar in discussions with indigenous owners about future training and aquaculture jobs for their community.

“The potential up there is so huge, from a prawn farming, water and environmental perspective, that, funnily, people ask ‘if it is so great, why hasn’t it been done before?’,” says Donovan.

“We could do so much with industrial aquaculture in the Gulf, in the Territory, not just Seafarms but other aquaculture projects, but unless someone like us starts and shows it can be done, it will never happen.”

FSSAI’s proposed metal limits in food items also meant to encourage responsible farming

NEW DELHI: The proposed regulations for heavy metal content in a whole range of food items would not only hold traders accountable but would also persuade Indian farmers to do responsible farming and adopt good practices, say senior officials as they look at ways to catch up with global standards.

India's food regulator, FSSAI has notified the draft regulations for limit on metal contents - lead, arsenic, tin, cadmium, mercury and -for food items such as fruits and vegetables including canned ones, processed food, meat, fish edible oils, pulses, canned juices, mango pickle and jams.

Citing how the new standard will help crate create an atmosphere where everyone in the production and supply chain behaves responsibly, an FSSAI official pointed out that the use of untreated sewage for cultivation of vegetables and other items around urban areas is the main reason of increasing level of heavy metals including lead. "If farmers become responsible and government agencies take note, things will improve," the official said. 

New ice plant for Indian harbour

Puducherry Fishing Harbour at Thengaithittu in India is being reconstructed and modernised, under the World Bank-funded Coastal Disaster Risk Reduction Project.

Chief Minister N Rangasamy has laid the foundation for the Rs 11 crore (approximately USD173,000) project, reports The New Indian Express, which includes construction of a modern mechanised slipway with winch rooms, boat making and repair yard and extension of the existing quay.

The extension of the existing quay will accommodate the increasing number of fishing boats and will provide them with suitable berthing and landing facilities.

A new chill/ice plant has also be inaugurated to supply 50 tonnes of ice per day. The 800m2 plant has a 54 tonne refrigeration capacity compressor, along with a 120hp motor. It also has sufficient power backup in the form of distributed generation (DG) and solar panels, to meet contingencies in case of power failure.

The ice plant will cater to the needs of boat owners, fish vendors, tradesmen, exporters and others operating in the harbour, and also adjacent landing centres such as Vambakeerapalayam and Veerampattinam. Boat owners from Puducherry, who go on multi-day fishing and deep sea fishing, will benefit from the plant, as they will be able to stock enough ice for their long voyages.

- See more at: http://www.worldfishing.net/news101/products/fish-processing/new-ice-plant-for-indian-harbour#sthash.tViNRe6S.dpuf

MALAYSIA TECH MAY BOOST FISHING IN STATE - Odisha-Malaysia collaboration

Genetically improved tilapia fish, an African specialty, is set to tickle the taste buds of Odias as it is going to be part of Odia menu, thanks to an Odisha-Malaysia collaboration. A protein-rich fish with low fat content, tilapia is popularly known as "aquatic chicken" because it is highly nutritious. It is now highly popular even in countries such as the US.  The State Government is now exploring the possibility of introducing the genetically improved farm tilapia (GIFT) to boost fish production in the State with an eye on exports as well.

 

Worldfish, a global aquaculture and genetic improvement organisation in Malaysia, has offered a partnership with Odisha in this venture to double the State's fish production in five years. Worldfish has also lent a helping hand to countries such as Bangladesh to boost their fish production as well.

Odisha has an area of 1.21 lakh hectares under tanks and ponds, 1.97 lakh hectares of reservoirs, 1.71 lakh hectares of rivers and canals, 32,587 hectares of cultivable brackish area, three lakh hectares of estuaries, brackish water and backwater area, besides the Chilika lake that spreads over 93,000 hectares. The State's 480-km-long coastline remains a boon, too.

 

All this notwithstanding, State's per capita fish consumption is 9.8 kg per annum which is below the national average. This despite consumption having increased to 9.40kg per annum in 2013-14 from 9.13kg per annum in the previous year. The State, which produced 4.67 lakh metric tonnes of fish in 2014-15, has a target of enhancing it by 20 per cent in the coming year. But, sources said, the production needed to be boosted further to meet the State's demand for fish. 

 

State Fisheries Department Secretary Bishnupada Sethi said a delegation from the Worldfish, headed by its director Michael Phillips, had last month made a presentation before Chief Minister Naveen Patnaik with the proposal to use the GIFT technology to enhance fish production in the State.Official sources said the State Government had decided to examine the feasibility of introducing the GIFT technology in selected reservoirs of the State. Though tilapia is the second most popular fish in the world, it is less known and less cultivated in India. It was introduced in the country during 1952 but not accepted well due to the prolific breeding of the species resulting in overpopulation and stunted growth of other fish species.

 

But, the selective and controlled breeding of tilapia is now being promoted in India with an objective of addressing the food security issue and cheap protein requirement in particular. Introduction of tilapia in the country's culture system is good, because its culture is not expensive and also eco-friendly, said sources. 

 

Tilapia culture is being carried out on one acre at the Central Institute of Fresh Aquaculture (CIFA) at Kausalayagang on the city outskirts on an experimental basis. Breeding and culture are being carried out by procuring the Chitralata variety of tilapia from Bangkok. A hatchery has also been set up there. "The experiment has shown good results. High protein and low fat tilapia is being produced here," said CIFA's principal scientist P Routray.

Environmentalists have, however, expressed concern over the impact of tilapia culture on the environment and hygiene. They apprehend that the intensive and unregulated tilapia farming may cause pollution and damage the eco-system.

 

Environmentalist SN Patro said: "Of course, it (tilapia culture) is a necessity as the State falls short by one lakh metric tonnes of fishes every year, and we have to procure fish from other States to meet our needs. But, we should carry out experiment on a small scale and wait for the results without rushing into large-scale culture."

 

He said the State should also be careful in studying this culture as genetically modified crops had shown adverse impact on health and hygiene in the past. "If the experiment satisfies us as to the environment, hygiene and nutritional parameters, the Government may go for large-scale culture of the fish," said Patro

Japanese firm invests in Vietnam's Vexere

Tokyo-based CyberAgent Ventures Inc., a venture capital arm of CyberAgent Inc., has announced its investment in Vexere Corporation, a start-up that operates an online bus ticket booking portal.

This is its second round of investment in the Vietnamese firm, in which Singapore-based Pix Vine Capital has also invested. The funds are said to be used for accelerating the growth of Vexere Corporation's users and partners. CyberAgent Ventures will contribute to raising Vexere's value by making the most of its resources such as existing operations, business experiences and know-how.

"The first round of investment has been used to build a bus management system used in the operation of 30 local bus operators. The owners can check the number of tickets sold at their offices, and the number of tickets sold for every route in Vietnam on their smartphones," Vexere Corporation's President and CEO Tran Nguyen Le Van said.

Work starts on infrastructure at Thu Thiem new urban area

The Ho Chi Minh City Infrastructure Investment JSC on June 27 commenced the construction of technical infrastructure at the northern residential quarter and the north-south road in Thu Thiem new urban area.

The residential area comprises 44 parcels of land with land-use functions as following: mixed use residential development, mixed use commercial development, and community facilities.

The total developing area is approximately 423,657 square metres.

The construction of the north-south road, which is 1,097 meters long and 44.7 meters wide, is conducted under the built-operate (BT) form.

Other facilities, including water supply, electricity and drainage systems, will be built.

The technical infrastructure project worth about 3.3 trillion VND ( 151.3 million USD) will be implemented within 18 months.

Vietnam expects for TPP at Asia-Pacific foreign trade forum

The Trans-Pacific Partnership (TPP) deal is expected to bring great opportunities to Vietnam , connecting the country with Mexico and other member countries, Vietnamese Ambassador Le Linh Lan told the Asia-Pacific Foreign Trade Forum recently held in the central Mexican state of Queretaro.

In her speech entitled “Market regionalisation, the global economic growth factor”, Lan mentioned the two economic blocs impacting Vietnam, including the Association of Southeast Asian Nations (ASEAN) and the TPP..

After its entry into ASEAN in1995, Vietnam recorded a gross domestic product growth of 6.77 percent in 1995-2014, higher than a 5.62 percent in 1985-1994, she said, adding during its first year of membership alone, the Vietnamese economy expanded by a record 9.95 percent.

When it comes to TPP, the ambassador said the deal will create the world’s largest free trade area covering a population of over 804 million, or 11.2 percent of the global total, making up 40 percent of the world’s GDP and 30 percent of its exports-imports.

Vietnam embarked on TPP negotiations in November 2008 while Mexico joined the talks in October 2012.

As Vietnam and Mexico are celebrating the 40th anniversary of diplomatic ties, Lan said both countries are working to promote economic and trade ties, with the ongoing negotiations of three memoranda of understanding on cooperation in trade and industry, plant and animal quarantine, and aquaculture that are expected to be signed this year.

Representatives from the Mexican Ministry of Agriculture, Livestock, Rural Development, Fisheries and Food Raul Urteaga Trani said Vietnam and Mexico are interested in coffee and rice, two commodities seen as sensitive in TPP talks.

Last year, two-way trade between Vietnam and Mexico reached 2.26 billion USD, up 39.7 percent annually, 1.91 billion USD of which was trade surplus run by Vietnam.

The forum, attracting representatives from India, the Philippines, Singapore, New Zealand and Perui, was presided over by the Mexican Business Council for Foreign Trade, Investment and Technology.

Agricultural and aquatic exports in decline

The export value of agricultural, aquatic and forestry products is currently estimated at 14.42 billion USD for the first half of the year, which marks a decrease of 2.8 percent compared to the same period last year, according to the Ministry of Agriculture and Rural Development.

The value of agricultural exports declined by 5.7 percent to 6.93 billion USD, and aquatic products fell in value by 16 percent to 2.97 billion USD, particularly on the US market.

During the period under review, rice exports exceeded 3 million tonnes, worth 1.3 billion USD, which represents a 10.5 percent decline in value compared to the same period last year.

The biggest tumble at 22.6 percent was observed on the Chinese market, the biggest importer of Vietnamese rice. In contrast, a remarkable increase was noted on the Malaysian market, which made it the third largest importer of Vietnamese rice.

Coffee recorded a significant decline of 35 percent, exporting 687,000 tonnes and generating 1.42 billion USD.

Other products, such as tea and rubber, saw a similar trend during the first half of the year.

Meanwhile, pepper, cashew nuts, and cassava exports still recorded double-digit growth in terms of value.

Exports in forestry products surged by 8 percent compared to the same period last year, generating 3.29 billion USD.

Disbursement of FDI up 9.6 percent in first half

The disbursement of foreign direct investment (FDI) in the first half of the year reached 6.3 billion USD, up 9.6 percent from a year ago.

The Ministry of Planning and Investment's Foreign Investment Agency said that the country attracted 5.49 billion USD in FDI during the January-June period, or 80.2 percent of the figure in the first six months of last year and the lowest since 2012.

In the first half of the year, 750 new FDI projects were granted investment certificates, with total registered capital worth 3.84 billion USD, or 79 percent of the number during the same period last year. Some 280 projects increased their registered capital by a total of 1.65 billion USD, or 83 percent of last year's figure in the first half.

According to the agency, the number of newly granted projects increased 15 percent year on year but there were no large-scale projects, which marked a reduction in registered capital.

During the period, most of the FDI went into the processing and manufacturing industries, with 338 new projects and 190 increasing capital worth 4.16 billion USD, accounting for 76 percent of the total capital.

The property sector took the second position, with 11 new projects registered and 7 increasing capital with a total of 465.5 million USD. It was followed by the wholesale, retail and repair sectors, with 119 new projects and 26 increasing capital, with total capital worth 276.5 million USD.

The Republic of Korea overcame 48 countries and territories to become the top investing country in Vietnam, with total registered capital worth 1.52 billion USD, followed by British Virgin Islands, with 684,8 million USD.

Turkey and Hong Kong held the third and fourth positions, with a total investment of 660.2 million USD and 627.5 million USD, respectively.

Some of the large projects that were granted licences during the period include the 660-million USD Hyosung Dong Nai, invested by Turkey to produce yarn in Dong Nai Industrial Zone; Worldon Vietnam Company, with 300-million USD investment to produce high-end garment and textile products in HCM City; Lu Thai Vietnam worth 160.8 million USD in Tay Ninh Province; and the 120-million USD Tra Vinh 1 wind power project in Tra Vinh Province. The ministry expects the annual FDI to reach 23 billion USD. As only 23.8 percent of the target could be met in the first six months, the country will need to attract new projects with larger investments over the remainder of the year to achieve the target.

Automobile imports on the rise

More than 56,000 completely built units (CBUs) of automobiles were imported during the first half of this year, an increase of 30,000 units over the same period last year.

The officials of the Ministry of Planning and Investment (MPI) said at a meeting on June 24 that of the total number of CBUs, 18,000 were vehicles with nine seats or less, while up to 36,000 were trucks and buses.

Earlier, the General Department of Customs reported that Vietnam imported more than 45,700 CBUs during the first five months, up nearly 130 percent year-on-year. Their combined value was 1.2 billion USD, a year-on-year increase of 183 percent.

In five months, cars with nine seats or less reached some 15,800 (up 74 percent) in number and 186 million USD (up 69 percent) in value. Trucks reached roughly 17,160 (up 95 percent) and 455 million USD (up 123 percent) in number and value, respectively.

The MPI officials said the latest data indicated that enterprises stepped up the import of vehicles that serve production and transportation.

The sharp rise in the number of trucks was due to a tighter policy of the Ministry of Transport for controlling vehicle weights to ensure safer road traffic, they added.

A sizable number of Chinese trucks reportedly entered the Vietnam market over the last few months, threatening similar vehicles manufactured and assembled domestically, as well as the national automobile industry. The MPI Deputy Minister Dang Huy Dong stressed that the situation required attention as some domestic policies were virtually stimulating demands for products from other countries.

Vietnam promotes investment and tourism in South Africa

Representatives of Vietnamese and South African authorities and businesses came together in Cape Town, South Africa, to explore the potential for investment and tourism in the two countries.

The event was jointly organised by local authorities, the Embassy of Vietnam in South Africa, and the Hanoi Small- and Medium-sized Enterprises Association (HASMEA) on June 26.

Addressing the opening ceremony, Vietnamese Ambassador to South Africa Le Huy Hoang hailed the event’s contribution to the promotion of investment and tourism cooperation between Western Cape Province and Cape Town in South Africa and Vietnamese localities, including Hanoi.

The Vietnamese Ambassador introduced a number of incentives provided by Vietnam and Hanoi to attract foreign investment, as well as other favourable conditions, including infrastructure and a skilled labour force.

He also highlighted Vietnam’s potential in terms of tourism, agricultural and seafood products, handicraft products, garments and textiles, and construction material.

For his part, Executive Deputy Mayor of Cape Town Ian Neilson praised the achievements made by Vietnam and Hanoi, and affirmed that Cape Town is keen to cooperate with Hanoi on urban management, economic development, market expansion and tourism.

Julius Okiror, representative of the Western Cape Agency of Trade and Tourism Promotion, gave an overview of the province’s key export products, including petroleum, wine and fruit.

He invited Vietnamese businesses to invest in construction, renewable energy, information and communication technology, agricultural product processing and financial services.

Businesses from the two countries introduced their products, potentials and needs during the event.

The Western Cape province, with a population of more than 7 million people or more than 10 percent of South Africa’s population, is considered a gateway to Africa.

During the first six months of this year, bilateral trade between Vietnam and South Africa reached nearly 700 million USD. It is expected to exceed 1.2 billion USD by the end of 2015.

RoK firms eye Thanh Hoa investment

Representatives of the Korea Chamber of Commerce and Industry, Korea Trade Centre, and Korean businesses have held a meeting with Vietnamese business executives in central Thanh Hoa province.

It was aimed at helping businesses from the two countries find partners and explore investment opportunities in the province for businesses from the Republic of Korea, reported Dau Tu (Vietnam Investment Review).

The two sides also signed a memorandum for developing bilateral trade cooperation, the paper said.

Nam Dinh strives to lure investment

More than 60 investors and representatives from apparel companies and financial institutes from different countries gathered in a workshop held in northern Nam Dinh provnce on June 27 to discuss policies to attract investment to the locality and its Rang Dong Garment and Textile Industrial Zone.

Participants learned about infrastructure, power capacity, waste and waste water treatment in the Rang Dong IZ, land for business expansion, and registration and administrative formalities, and local incentives for investors.

Chairman of the Nam Dinh People’s Committee Doan Hong Phong briefed the participants of the province’s potential of abundant, skilled and young workforce, convenient transport, improved telecommunication and healthcare infrastructure and services.

All industrial parks and clusters have solid and liquid waste treatment systems as well as residential buildings for workers, he noted.

The locality prioritises investment in the fields of industrial infrastructure development, green agricultural production, food processing and supporting industry for mechanics, electrics, electronics, textiles and garment, and footwear.

Investment in eco-tourism, education and healthcare services are also encouraged, he added.

Nam Dinh plans to have nine industrial parks, three of which have been put into use including the Hoa Xa, My Trung and Bao Minh IZs.

The 600-hectare Rang Dong Garment and Textiles IZ will be operational by the end of 2015.

Three cooperation projects between the province’s enterprises and foreign investors were inked during the event.

Awards given for best annual reports

Fifty companies were honoured on June 26 for issuing the best annual reports out of almost 600 companies listed on the Hochiminh and Hanoi stock exchanges that took part in the contest.

Of them, 37 are listed on HOSE and 13 on HNX.

The HCM Securities corp. (HSC), which also won the Best of the Best Award, Bao Viet Holdings (BVH), Vietnam Dairy Products JSC (VNM) and PetroVietnam Drilling & Well Services Corp. were among the Top 10.

HSC, VNM and BVH also won the top three prizes for Best Corporate Governance Content.

The Sustainability Reporting Awards were given to five firms – PVD, VNM, BVH, Imexpharm (IMP) and FPT Corp (Financing and Promoting Technology). The jury for selecting the winners from 87 reports that featured sustainable development issues included the World Bank's International Finance Corporation and the UK-based Association of Chartered Certified Accountants.

HOSE CEO Phan Thi Tuong Tam, who was the head of the organising committee and chairwoman of the selection board, said: "Thanks to tremendous efforts by the authorities, media partners, exclusive sponsor, listed firms and other participating institutions, throughout the past eight years the Annual Report Awards have seen the quality of reports rising substantially with more transparent and detailed contents and professional presentation.

"Even better, some firms have aligned their reports to fit international reporting standards. These are indeed remarkable improvements and a great force in making the Vietnamese stock market more transparent."

Pham Nguyen Vinh, business development director at Dragon Capital, said: "Improvements in the annual reporting process and increasing information transparency of listed companies in general will boost the competitiveness of the Vietnamese stock market in terms of attracting foreign capital and helping avoid excessive volatility in capital flows."

Nguyen Nguyet Anh, corporate governance officer at IFC Vietnam and member of the selection board, said: "Many firms have showed a dramatic development when they leverage annual reports as an important channel to connect with investors. The corporate governance section in many reports is also in line with the best international standards."

Experts judging the Sustainability Report Awards from the IFC and ACCA said it was exciting to see many more firms paying close attention to sustainability reporting during the three years since the awards were instituted.

To Vi Hung of the ACCA, the head of the selection board for the Sustainability Report Awards, praised the reports for having greater detail now and including more social and environmental objectives besides the firm's charity activities.

Another highlight of this year's award is the increasing number of firms that have used the IFC's criteria and GRI's G4 Standards as references. Such reports are often clearer, more detailed and more reliable, which results in better scores for the firms.

The ceremony this year also included a seminar on corporate governance attended by experts from the Central Institute of Economic Management, leading ASEAN firms, Dragon Capital, and HOSE.

Da Nang puts into use solid waste treatment complex

The first stage of the Khanh Son solid waste treatment complex in the central city of Da Nang was commissioned on June 27.

The two-phase project worth 900 billion VND (42.25 million USD) is being built on 10 hectares.

The fist stage of the project has an investment of nearly 400 billion VND (18.6 million USD) and is able to treat 200 tonnes of waste daily.

Meanwhile, the second phase is hoped to be completed by late 2016 with a designed daily capacity of handling 700 tonnes of waste.

Director of the Vietnam Environment JSC Nguyen Van Tuan said the complex is equipped with modern and environmentally-friendly technologies, which could fully treat unburied solid waste and produce renewable energy products from the waste.

Once fully operational, the complex is capable of treating nylon, organic waste and glass bottles, he added.

Director of the municipal Department of Natural Resources and Environment Nguyen Dieu said the project will help the city address environmental contamination issues and build a green city in the future.

Vietnam to boost export to Chinese market

A workshop focusing on strengthening business cooperation and boosting exports to the Chinese market was held in Ho Chi Minh City on June 26.

Addressing the workshop, Deputy Director of the Ho Chi Minh City branch of the Vietnam Chamber of Commerce and Industry (VCCI) Nguyen The Hung said two-way trade between Vietnam and China has seen notable growth but still failed to match the potential.

According to Hung, Vietnamese enterprises should actively update market information in order to boost exports to China, heading to a trade balance between the two countries.

The VCCI will speed up several activities in the coming time to help Vietnamese businesses penetrate effectively into the Chinese market, he added.

According to an official from the Chinese Consulate General in Ho Chi Minh City, China is willing to create favourable conditions for Vietnamese enterprises to access its market and increase investment and business activities in China.

In the next five years, Chinese direct investment overseas will exceed 500 billion USD, creating great opportunities to businesses in the Asia-Pacific region, including Vietnam, he said.

In the first five months of 2015, Vietnam exported goods worth 6.1 billion USD and imported 15.9 billion USD of commodities from China, resulting in a trade deficit of 9.8 billion USD.

Vietnam mainly exported crude oil, coal, computers, telephones, vegetables, and aquatic products while importing machines, equipments, steels, and fertilizer.

Online government bond transaction system launched

The Hanoi Stock Exchange (HNX) coordinated with the State Treasury to launch an online government bond transaction system (E-BTS) on June 26.

According to the HNX, the E-BTS is expected to make the government bond market more lucrative, attracting more domestic and international capital to Vietnam’s bond market, eventually contributing to liquidation.

Addressing the ceremony, Vice Chairman of the State Securities Committee Nguyen Thanh Long said the E-BTS is an important springboard to continually develop the government bond market, preparing it for integration into regional and international markets.

The HNX and relevant agencies, Long said, would continue improving infrastructure, develop new products, research and build legal documents for the derivatives market.

He believed that the HNX, the Vietnam Securities Depository, members of the market and relevant units would successfully build the derivatives and Vietnam securities markets, gradually integrating into regional and world markets.

The HNX also reported over 85 trillion VND (3.9 billion USD) worth of government bonds were sold in the first half of the year, down 37 percent annually.

Of which, the State Treasury mobilised 70 trillion VND (3 billion USD), the Bank for Social Policies drew six trillion VND and the Vietnam Development Bank fetched nine trillion VND (412.5 million USD).

It is a relatively positive picture of the secondary transaction market with the value of outright and repos transactions in the first six months continually on the rise from the same period last year.

Outright transactions amounted to 300 trillion VND (13 billion USD) while the amount of repos transactions was 141 trillion VND (6.5 billion USD). The average daily transaction value was 4.2 trillion VND (192 million USD).

Fair looks to develop agriculture seeds

A fair featuring nearly 300 booths on agriculture seeds was opened in Ho Chi Minh City on June 26 with the participation of 120 businesses from across the country.

Deputy Director of the municipal Department of Agriculture and Rural Development Nguyen Van Truc said the fair creates an opportunity for scientists and businesses to study new, high-yield and competitive strains suitable for the production conditions of each region.

Since 2000, HCM City has implemented a programme in the field, aiming to become one of the leading producers and suppliers of high-quality animal, crop and seafood varieties for cities and provinces nationwide.

Last year, local businesses created about 15,400 tonnes of seeds and 9.5 million flower varieties while supplying over 24,000 milk cow and 900,000 pig breeders.

The outcomes were attributed to the city’s investment in studying high-yield seeds for animals and plants, said Chairman of the municipal People’s Committee Le Hoang Quan.

It is also key to improving productivity and quality and opening up new prospects for the city’s agriculture restructuring, he added.

The three-day fair is expected to promote the city’s farm produce and increase goods value for farmers.

It is also intended to reduce dependence on seed imports and improve competitiveness, especially as free trade pacts with foreign countries are implemented.

HCM City responds to tax and customs inquiries

A dialogue was held on June 26 in Ho Chi Minh City between domestic enterprises working in the city’s export processing and industrial zones and several involved bodies concerning governmental regulation and tax policies.

Attendees included those from the Investment and Trade Promotion Centre of Ho Chi Minh City (ITPC), Ho Chi Minh City Export Processing and Industrial Zone Authority (HEPZA) and municipal taxation and customs departments.

During the meeting, tax and customs department representatives gave an overview of changes in tax and custom regulations regarding tax calculations, tax refunds and goods classification.

The departments recommended that enterprises should examine new regulations and actively seek government authority consultations to ensure smooth tax and custom clearance procedures.

The new law on customs allows companies from export processing and industrial zones to request customs bodies for advance declaration of tax prices, item codes and the goods’ country of origin, said an official from the department of customs.

The enterprises are required to make themselves fully aware of e-customs procedures to avoid rejections or mistakes, he added.

FDI projects: high quantity, small scale

There was a greater number of foreign-invested projects in the first six months of 2015 as compared to last year, but with smaller scale operation.

According to the Foreign Investment Department, the number of foreign direct investment (FDI) projects during the period increased 15.4 percent and 28.3 percent annually in terms of new businesses and ones registering additional capital, respectively.

Accordingly, 757 new FDI projects were licensed with a combined registered capital of 3.83 billion USD while 281 existing projects increased their registered capital, adding 1.65 billion USD.

The total capital of 5.49 billion USD reflected an annual funding drop of 19.6 percent, attributable to the small scale of 2015 projects.

The processing and manufacturing sector reeled in the most overseas capital worth 4.18 billion USD distributed among 338 new and 190 existing projects, followed by realty and commerce.

The Republic of Korea has been the top foreign investor in Vietnam with 1.52 billion USD poured into the country within the period. The British Virgin Islands, Turkey and Hong Kong (China) were close behind; each channelled more than 600 million USD into their local projects.

Among 42 FDI destinations nationwide, southern Ho Chi Minh City, Dong Nai province and northern Hai Phong city dominated, receiving 1.12 billion USD, 1.03 billion USD and 433.7 million USD respectively.

The mid-year disbursement of foreign funds reached 6.3 billion USD, up 9.6 percent year on year.

Six-month FDI export value reached 54.88 billion USD, a 15.3-percent annual rise and occupying 71 percent of Vietnam’s overall export turnover.-

Kien Giang picks shrimp, rice for farm restructuring

Kien Giang Province, the country's largest rice producer, has chosen rice and brackish-water shrimp as major products for agricultural restructuring.

Mai An Nhin, deputy chairman of the provincial People's Committee, said the area for rice cultivation would remain the same, but that crops would be rotated on paddy fields.

Areas unsuited to rice cultivation would be used to grow vegetables and cash crops.

This year, the province's Department of Agriculture and Rural Development plans to shift 4,000ha devoted to rice cultivation to corn, soybean and sesame.

Kien Giang has converted 135ha of fields from rice to corn and 379 ha from rice to sesame this year, mostly in Giang Thanh and Hon Dat districts.

Farmers who participate in rotating crops on paddy fields will be given financial support of 60 per cent to buy seedlings and 30 per cent to buy material inputs. They will also receive training in farming techniques.

Nguyen Van Tam, the department director, said restructuring aimed to ensure high efficiency, quality and added value via specialised and intensive farming.

Restructuring would also link agricultural production with outlets that can guarantee, process and export goods.

The province has 770,379ha of rice, with a total yield of 4.5 million tonnes in 2013.

This year, the total area for rice in the province fell to 761,184ha but the rice yield is expected to increase to 4.6 million tonnes, according to the department.

This year, the cultivation of high-quality rice rose from 67 per cent in 2013 to 70 per cent of the total rice crop.

Kien Giang has also invested in infrastructure for agricultural production, built closed dykes and set up electric pumping stations to reduce production costs.

The province targets developing large-scale rice fields to 57,000ha in 2017 and 100,000ha in 2020.

The province has 90 large-scale paddy fields with a total area of 10,790ha.

In the 2014-15 winter-spring rice crop, farmers have had an average yield of 7.25 tonnes per ha, up 0.04 tonne against the 2013-14 winter-spring rice crop.

With the increasing yield of rice in recent years, the lives of many farmers have improved.

Pham Thi Sang in Tan Hiep District's Tan Hiep A Commune said her family had harvested 7.8 tonnes of rice per ha in the 2014-15 winter-spring rice crop.

"With a bumper harvest, the life of my family is better," she said. "Other farmers in my area also had a bumper harvest."

In a related matter, the province has also decided to expand the shrimp breeding area under industrial and semi-industrial methods in the Long Xuyen Quadrangle and U Minh Thuong area.

The province has applied advanced techniques in breeding shrimp, including Global Good Agricultural Practices (GlobalGAP).

This year, farmers have bred more than 95,000ha of shrimp. Of the figure, 1,078ha were bred under industrial and semi-industrial farming methods and the rest under extensive farming and in fields rotating between shrimp and rice.

Ho Chi Minh City economy maintains growth momentum

The southern metropolis Ho Chi Minh City has maintained its growth momentum for four consecutive years, the municipal People’s Committee told a meeting on June 24.

The city’s gross domestic product (GDP) value reached 417 trillion VND in the first half of this year, up 8.55 percent annually – the highest rise in the past three years, buoyed by services, industry and construction, and agriculture with increases ranging from 6-9.8 percent, said Director of the municipal Department of Planning and Investment Thai Van Re.

Trade, export-import and banking credit also recorded impressive growth.

The total goods retail and service value was estimated at 323.2 trillion VND, up 10.9 percent year-on-year.

As of late June, local credit organisations raised more than 1.38 thousand trillion VND (63.48 billion USD), soaring 14.82 percent from last year’s corresponding period, while outstanding loans totalled 1.125 thousand trillion VND (51.75 billion USD), reflecting a good flow of capital.

Under a business-bank connectivity scheme, about 1,500 individual business clients have accessed over 65.7 trillion VND (3 billion USD) in loans.

In the industry area, the industrial production index expanded by 6.5 percent, with a gradual shift towards processing and manufacturing industries and less reliance on mining.

In industrial, processing and hi-tech zones, the new and additional investments surged 87 percent yearly to over 623 million USD, equivalent to 89 percent of the target.

On revenues to the State budget, the city contributed over 134.7 trillion VND (6.1 billion USD), 47 trillion VND (2.1 billion USD) of which was from exports.

For the rest of this year, the municipal authorities will continue assisting businesses in improving competitiveness by technology adoption and marketing.

The manufacturing sector will benefit from a support industry development strategy which is in the pipeline.

Le Hoang Quan, Chairman of the municipal People’s Committee, informed that the city is also reshuffling the Steering Board for International Economic Integration.

Trade and investment promotion activities will keep going on with the support of credit institutions, towards achieving goals mentioned in the Government’s banking restructuring scheme.

Hungarian firms updated on Vietnam’s investment incentive policies

Hungarian businesses were provided with updated information related to Vietnam’s investment and tariff incentive policies during a workshop held recently by the Vietnamese Embassy in Hungary and the Chamber of Commerce and Industry of Vas county.

Speaking at the event, Ambassador Nguyen Thanh Tuan shared that the Vietnamese Government regularly revises policies so as to facilitate business and investment of domestic and foreign enterprises.

As a developing economy, Vietnam has great demand of capital, technology, equipment and materials for production and consumption activities, he noted.

The ambassador stressed that the 65-year traditional friendship between the two countries serves as a firm foundation for closer link in the coming time.

President of Vas County Council Laszlo Majthenyi affirmed that the county authorities will create most favourable conditions for the two sides’ companies to do business with each other.

Meanwhile, President of the Chamber of Commerce and Industry of Vas county Kovacs Vince suggested textile and garment, food processing, pharmaceutical product and tourism as fields of good potential for partnership between Vietnamese and Hungarian firms.

Commercial counsellor Nguyen Trung Dung made detailed introduction on Vietnam’s socio-economic situation, investment climate, as well as the market and policies related to investment and taxation.

He pointed to possible problems due to geographical distance and differences in language, culture, business practices and consumption habits between the two countries, proposing that the two sides need to enhance the exchange of business delegations and organise more goods exhibitions and fairs to promote mutual understanding.

During the workshop, Vietnamese and Hungarian firms had direct meetings to share their demand and cooperation opportunities.

Vietnam Airlines offers special promotion on Japan route

The national flag carrier Vietnam Airlines is offering a promotion on its flights between Hanoi and Japan’s Haneda Airport in Tokyo on the occasion of the route’s one year anniversary.

Accordingly, return tickets for Hanoi- Haneda will be 10,750,000 VND (500 USD) for economic class, and 21,478,500 VND (999 USD) for business class.

The special rates will be applicable for flights departing from June 25 to July 31, 2015, and does not include taxes, fees, and additional charges.

Vietnam Airlines officially operated the route on July 1, 2014 with seven flights a week. It is the company’s ninth routes between Vietnam and Japan.

Tra Vinh distributes soft loans to develop agriculture

Banks and financial institutions in the Mekong Delta province of Tra Vinh have offered over 7.65 trillion VND (35 million USD) in soft loans as part of the State’s agricultural and rural development policies for local farmers during the first half of 2015.

According to the provincial Department of Agriculture and Rural Development, as many as 7.63 trillion VND worth of loans have been provided to some 214,000 farmers, representing of 55.7 percent of the province’s total gross loans.

Some 49 farming households have taken out a combined loan of 19.5 billion VND (nearly 894,000 USD) to purchase agricultural equipment, mostly combine harvesters, in accordance with Decision No. 68/2013/QD – TTg by the Prime Minister to reduce post-harvest losses.

Another 5.9 billion VND (over 270,000 USD) in credit was lent to help farmers switch from rice farming to fruit and vegetable growing.

In addition, the provincial authority has organised ten agricultural training courses for 250 local farmers to help them apply advanced technology in production.

Yen Bai mobilises 2.5 trillion VND to develop rural transport system

The northern mountainous province of Yen Bai has mobilised 2.5 trillion VND (116.3 million USD) over the past five years to develop rural transport systems, heard a conference held in the locality on June 24.

Of the total amount, 800 billion VND (37.2 million USD) was sourced from the state budget, 515 billion VND (23.9 million USD) from the provincial budget, 600 billion VND (27.9 million USD) was contributed by local residents and the remaining was from official development assistance and other social funds.

The fund has been used to build over 463 kilometres of concrete roads, enlarge over 966 kilometres of dirt roads and build 42 concrete bridges and 19 suspension bridges. Rural transport facilities in the locality have seen stellar improvement, creating an impetus to develop the local socio-economy.

Speaking at the event, Deputy Minister of Transport Nguyen Hong Truong spoke highly of the achievements made by the province in the past few years while calling for further activities to foster rural transport construction to meet local socio-economic development.

He added that the province should mobilise additional social resources and seek suitable mechanisms to improve rural transportation while ensuring traffic safety in the locality.

Ta Van Long, Standing Vice Chairman of the provincial People’s Committee, said that the province sees rural transport system development as a key mission for the next few years, adding that transport sector and relevant agencies need to study and build projects to develop rural transportation in 2016.

He also underscored that Yen Bai localities must enhance road maintenance and management to ensure sustainable transport infrastructure.

On the occasion, 12 organisations and five individuals were presented with certificates of merit from the Minister of Transport for their contributions to rural transportation development.

Binh Duong: FDI attraction already surpasses yearly target

The southern province of Binh Duong has attracted over one billion USD in foreign direct investment (FDI) in the first six months of 2015, surpassing its set target for the whole year.

According to Director of the province’s Planning and Investment Department Nguyen Thanh Truc, the province has licensed 102 new projects with registered investment of 712 million USD, and allowed 66 existing projects to increase their capital in the period.

Among total registered investment capital, 270 million USD has been poured into supporting industries.

According to Chairman of the province’s People Committee Tran Van Nam, three big FDI projects with a total investment of three billion USD are pending in 2015, including tourism projects in Dau Tieng and BacTann Uyen districts and a garment and textile project. They are in the process of evaluating the investments’ impacts on the environment.

The province is currently home to 2,490 valid FDI projects with a total capital of 21.3 billion USD, generating jobs for hundreds of thousands of workers.

Viet Uc Group eyes hi-tech shrimp farming in Ca Mau

The Viet Uc Group, Vietnam’s leading juvenile shrimp supplier, is looking to receive Ca Mau province’s approval to invest in hi-tech shrimp farming in the locality.

The group’s Chairman and CEO Luong Thanh Van said that Ca Mau city has the most favourable conditions to implement the project, should it be accepted.

The group has succeeded in carrying out hi-tech shrimp farming in several places in Vietnam. Scientific and technological advances will be applied in selecting and caring for seeds and processed shrimp products will meet international standards, he added.

Earlier, the group invested in a project producing juvenile shrimp in Ca Mau’s Ngoc Hien district. The 60-billion-VND farm, which began operations in May, is expected to produce 7 billion juvenile shrimp.

Director of the provincial Department of Planning and Investment Mai Huu Chinh pledged to create favourable conditions for the group to carry out the project once it receives local authorities’ seal of approval.

In 2014, the Viet Uc Group produced 51 billion juvenile shrimp, accounting for 22 percent of the country’s market share.

Fair held to market products to RoK importers

An exhibition opened in HCM City on June 24 to introduce typical Vietnamese products to importers from the Republic of Korea (RoK).

This is the second time the event has been organised. Around 60 enterprises attended the event, displaying a wide range of high-quality and prestigious products.

Municipal authorities said 200 typical products would be promoted in the RoK market.

Hong Won Sik, General Director of Lotte Mart Vietnam, said the fair is a good opportunity for enterprises to create links to expand their local and foreign market.

Phan Thanh Minh, Head of the Ministry of Industry and Trade’s branch in HCM City, said the fair has become an effective channel, helping identify Vietnamese products that meet RoK consumer tastes.

Quang Ngai unveils hi-tech agricultural planning

The management board of the Dung Quat Economic Zone in the central province of Quang Ngai announced a detailed plans for the hi-tech agriculture zone on June 24.

The zone, spanning across 190 hectares in Binh Hoa commune, Binh Son district, is one of 22 zones across the country receiving the Prime Minister’s approval for implementation.

The zone is divided into a hi-tech area, outdoor flower area, bonsai area, fruit tree area and ecological fish farming lake.

It also includes buildings used for management, training employees, displaying products, commercial services and warehouses.

The zone will serve as Quang Ngai’s centre for transferring and expanding hi-tech farming models.

Investment law ready to implement

New points in the Investment and Enterprise Law 2014, which go into effect next month, caught the attention of business players attending a seminar in HC M City yesterday.

The Investment Law has regulations that mark significant progress in administrative overhaul, including slashing the time to process foreign investment registrations from 45 to 15 working days.

It also raises the responsibility of investors, particularly through deposit requirements and equipment quality appraisals.

Based on reviews of 386 business sectors, the new investment law specifically regulates a list of valid business areas and six that are prohibited.

It also streamlines the share purchase process, saying that any entity with more than 51 per cent of its assets and charter capital held by foreigners is to be treated as a foreign-invested firm, said Deputy Director of the Ministry of Planning and Investment's Legal Department Quach Ngoc Tuan.

New points in the Enterprise Law include business registration certificates with information regarding business codes, headquarters addresses and legal representatives. Business areas will be declared in business registration application forms.

The law also abolishes some requirements for professional certificates, shortens business registration timelines and adds criteria for State business executives.

It also requests the release of transparent information from firms with State capital up to international standards, among others, said the head of the Central Institute for Economic Management's Business Environment and Competitiveness Department Phan Duc Hieu.

The Investment and Enterprises Law was designed to uphold the business freedom of enterprises while simultaneously focusing on equal treatment between domestic and foreign investors to ensure they comply with international treaties.

EU warns FTA means VN reform

Once the Viet Nam-EU free trade agreement (FTA) is signed, Viet Nam will need to renovate its economic policies and institutions and be prepared for agreement enforcement, said Danish Ambassador to Vietnam John Nielsen yesterday.

Speaking at a workshop on the FTA, jointly held by the Central Institute for Economic Management (CIEM) and the Danish Embassy, Nielsen said that challenges accompanied the agreement, including requirements to improve product quality, competitiveness and the business and investment climate.

CIEM Director Nguyen Dinh Cung said the benefits brought by FTAs depended heavily on policy and institutional reforms. These would turn challenges into opportunities and opportunities into benefits.

Cung said Viet Nam had to modify its policies, mechanisms and institutions to increase the positive impacts of the agreement and reduce negative impacts.

Delegates shared international experience in renovating institutions and adjusting policies learned by developing countries when enforcing FTAs.

Viet Nam and the EU started negotiations on the agreement in June, 2012, and have so far undergone 12 rounds of discussions. Along with tariff cuts and trade facilitation, commitments include investment, the environment, competition and sustainable development.

The FTA between Viet Nam and the EU, once signed, could help expand Viet Nam's GDP by 7-8 per cent by 2025. Viet Nam's exports to the EU are likely to increase by 10 per cent.