Singapore is Vietnam’s biggest foreign investor in Jan-Feb
HCMC – Singapore poured US$978.4 million into Vietnam in the first two months of this year, making it the biggest investor among 51 countries and territories investing in Vietnam, according to the Ministry of Planning and Development. Singapore made up 31.6% of total foreign direct investment
Japanese businesses keen on Mekong Delta
HCMC – Many Japanese businesses are seeking to launch operations in the Mekong Delta, with Vinh Long Province as a destination of priority, according to the Japan External Trade Organization (JETRO). The preference for Vinh Long is in response to growing construction costs and a scarcity of
Taiwan auto parts maker to set up shop in Hai Duong
HCMC – Taiwan’s NeoSCM Limited has plans to invest some US$44-55 million into a facility producing car brake discs in the northern province of Hai Duong. The 8-hectare factory will be built in An Phat Industrial Park No. 1 in Nam Sach District, with annual output of four million products for
Asian automakers to launch EV business in Vietnam
HCMC – Regional automobile manufacturers have sought to sell electric vehicles (EV) in Vietnam and build car assembly plants for the domestic market. Wuling Hongguang Mini EV, China’s best-selling compact EV, will be made and sold in Vietnam this year, the local media reported. The project is part
PM wants 95% of public investments disbursed in 2023
HCMC – Prime Minister Pham Minh Chinh has set a target to achieve a disbursement rate of at least 95% of all public investments planned for this year, equivalent to over VND676 trillion. He emphasized public investment was a resource and motivation for national development at the teleconference on
Thailand’s largest retailer to invest US$1.45 billion in Vietnam by 2027
HCMC – Central Retail Corporation (CRC), Thailand’s largest retailer, has announced a new investment amounting to US$1.45 billion in Vietnam in 2023-2027 to expand its operations. After its acquisition of Nguyen Kim, a home appliance distribution chain in Vietnam, and its opening of Go!
Work starts on medical university campus in HCMC
HCMC – Work began on the second campus and a teaching hospital of the Pham Ngoc Thach University of Medicine yesterday, February 17. The VND2.4-trillion project is expected to be completed in 2025. The university’s second campus and teaching hospital will be located in Tan Kien Commune, Binh Chanh
Apple contractor Foxconn leases new site in Vietnam
HCMC – Foxconn Technology Group, the biggest contractor of Apple, has signed a lease with the Saigon-Bac Giang Industrial Park Corporation for a 450,000-square-meter site at around US$62.5 million, the local media reported. The new manufacturing site of Foxconn is at the Quang Chau Industrial Zone
S.Korea tops in foreign-affiliated investments in Vietnam in 2016-2020
HCMC – South Korean investments in affiliated firms in Vietnam ranked first between 2016 and 2020, according to a recent report by the General Statistics Office. Foreign-affiliated firms are known as businesses with a foreign ownership of over 50%. During the period, there were 5,663 South Korean
Two Vietnamese-invested undersea internet cables ready by year-end
HCMC – Two new undersea internet cables, invested by Vietnamese telecom giants VNPT and Viettel, will be put into operation by the end of this year or in early 2024. A representative of Vietnam Posts and Telecommunications Group (VNPT) said that the Southeast Asia-Japan 2 Cable System (SJC2),
Vietnam’s agriculture needs foreign funding
HCMC – The country aims to leverage investments and enhance capital management mechanisms in agriculture, particularly through official development assistance (ODA) in priority sectors. According to Minister of Agriculture and Rural Development Le Minh Hoan, one of the industry’s major targets in
EVN borrows VND2.4 trillion for Ialy hydropower plant expansion
HCMC – The Vietnam Electricity Group (EVN) and the Vietnam Bank of Agriculture and Rural Development (Agribank) have signed a credit agreement worth VND2.4 trillion to develop the Ialy hydropower plant expansion project. The 14-year-term loan accounts for nearly 38% of the project’s total