Seven-month FDI hits nearly $9 billion


The Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has announced that in the first seven months of this year Vietnam attracted nearly $9 billion in foreign direct investment (FDI), primarily to the textiles sector in a number of multi-million dollar projects.Textile becomes appealing Most recently, the Polytex Far Eastern Co. from Taiwan invested $274 million in a project producing and processing yarn at the Bau Bang Industrial Park in southern Binh Duong province. Previously there were a series of other foreign investors pouring capital into the sector. Significantly, the Hyosung Vietnam Limited Company, a Turkish investor, invested $660 million in a project producing and processing yarn in industrial zones in southern Dong Nai province. Meanwhile, a British Virgin Islands investor, Worldon Vietnam Co., also invested $330 million in a project producing high-grade garments in Ho Chi Minh City. It is clear to see that FDI flowing into the textiles … [Read more...]

Binh Duong sees foreign investment boom in garment sector

Over 50 percent of the 1 billion USD in foreign direct investment that landed in the southern province of Binh Duong was poured into the garment sector in the first six months of this year, according to Nguyen Thanh Truc, Director of the provincial Department of Planning and Investment. The province has granted an investment certificate to Polytex Far Eastern Co., Ltd under the Taiwan Far Eastern Group. With an investment of 274 million USD in the first phase, the company will construct a 99-hectare plant producing auxiliary products including cotton, synthetic and knitted fibres at Bau Bang industrial Park. This is the largest investment project in the locality since the outset of this year. As the Trans-Pacific Partnership Trade pact enters the final rounds of negotiation, foreign investors are making huge investments in Vietnam to take advantage of preferential export taxes, Truc said. In the first two quarters of this year, provincial garment export revenue reached over 904 … [Read more...]

FDI flows into textile-garment projects

Quoc Hung Early this week, the government of Binh Duong Province awarded an investment certificate to Polytex Far Eastern Co. Ltd. under Taiwan’s Far Eastern Group to develop a US$274-million clothing project. The biggest FDI project in the southern province in the year to date will go up on 99 hectares at Bau Bang Industrial Zone and produce supporting items for the apparel sector. It is designed to have an annual capacity of 43,200 tons of polyester, 127 million square meters of knitted fabric and 96 million square meters of cotton fabric. The investor wanted to build the factory in Vietnam to capitalize on the opportunities from the Trans-Pacific Partnership (TPP). The group plans to invest an additional US$700 million to US$1 billion in the second phase of the project. Earlier this year, three large-scale projects were approved for the textile and garment sector with two in HCMC and Dong Nai Province, according to statistics of the Foreign Investment Agency under the … [Read more...]

Taiwan firm gets Binh Duong green light for $274m textile plant

Tran Van Nam (right) grants investment certificate to Chairman of Polytex Far Eastern Viet Nam.   VNS Photo Thu Ngan

The People's Committee of the southern province of Binh Duong on Monday issued an investment certificate to Taiwanese company Polytex Far Eastern Viet Nam. With an investment of over US$274 million in the first phase, the company will build a 99ha plant to make supporting products including polyester and cotton yarn in the Bau Bang Industrial Zone. It has not indicated when work on the second phase will start. The project is highly anticipated since it is expected to spearhead the development of supporting industries in Viet Nam for the garment and textile industry at a time when Viet Nam is set to accede to the Trans Pacific Partnership Agreement. Polytex Far Eastern Viet Nam is a member of the Far Eastern Group, which has interests in 10 different sectors ranging from petrochemicals, cement, and retail to hospitality, finance, and communications. Source VNS … [Read more...]

Binh Duong gives thumbs up for US$274m textile plant


(VOV) - The Southern Binh Duong provincial People’s Committee on June 29 approved the issuance of an investment certificate to Polytex Far Easterm Company, based out of Taiwan. With an investment of over US$274 million in the first phase, the company will construct a 99ha plant to make supporting products including polyester and cotton yarn at the Bau Bang Industrial Zone. "Bau Bang is an ideal place for the factory," said Cheng Chen Yu, the company’s CEO in making the announcement. We plan to invest US$274 million in the first phase and raise an additional US$700 million in the second and final phase to complete it. There was no announcement of when the work would commence or a timetable for its completion. Once fully operational, the plant will generate more than 3,000 jobs and have a capacity to produce 21,600 tonnes of polyester, 21,600 tonnes of DTY fibres, 127 million sq.m of knitted fabric and 96,000 sq.m of cotton per annum. Polytex Far Eastern Vietnam is a … [Read more...]

Multi-million-USD textile project gets approval in Binh Duong

A 274 million USD textile project run by a Taiwanese company got an investment certificate from southern Binh Duong province authorities on June 29. Polytex Far Eastern Co. Ltd, a member of Taiwan’s Far Eastern Group, will spend 274 million USD on phase one of the project, which will cover 99 hectares at the Bau Bang industrial and urban park. The factory will have an annual capacity of 21,600 tonnes of polyester fibre, 21,600 tonnes of polyester drawn textured yarn, 127 million square metres of knitting fabric and 96,000 square metres of cotton cloth. When operational, it is expected to create more than 3,000 jobs for local people. Polytex Far Eastern Chairman Cheng Chen Yu said the Bau Bang industrial park owns favourable investment climate, adding that the Taiwanese group will pour 700 million – 1 billion USD into phase two of the project. The Far Eastern Group is a leading corporation in Taiwan with total assets estimated at nearly 80 billion USD. Chairman … [Read more...]

Binh Duong grants investment certificate to Polytex Far Eastern


Chairman of Binh Duong provincial People's Committee Tran Van Nam (right) grants the investment certificate to Chairman of the Board of Directors of Polytex Far Eastern Cheng Chen Yu NDO - The People's Committee of Binh Duong province on June 29 granted an investment certificate to Polytex Far Eastern Vietnam Ltd Company to build a factory producing synthetic fibers. The first phase of the factory will have an investment of US$274 million, covering an area of 99 hectares at Bau Bang Urban Area and Industrial Park. The synthetic fiber factory is scheduled to have an annual capacity of 21,600 tonnes of polyester, 21,600 tonnes of DTY fibers, 127 million m2 of knitted fabric, and 96,000 m2 of cotton fabric. The factory is expected to create jobs for more than 3,000 people. Chairman of the Board of Directors of Polytex Far Eastern Cheng Chen Yu, said Bau Bang in Binh Duong was an ideal location with a good investment environment for Far Eastern Group to carry out its project after … [Read more...]

Chinese firms interested in investing in Binh Duong

A delegation of representatives from 18 companies based in China’s Fujian province met with Binh Duong provincial officials on May 4 to learn about the local investment climate and seek business opportunities. Vice Chairman of the Binh Duong People’s Committee Tran Thanh Liem said the southern province is one of the top foreign investment destinations in Vietnam with 2,460 projects worth nearly US$21 billion. China specifically is running 204 projects with a registered capital of some US$1.4 billion. Binh Duong is committed to providing the best possible conditions for business activities, he said, adding that it prioritises projects that are environmentally friendly, highly competitive, and use cutting-edge technology. He noted the opportunities brought about by the Trans-Pacific Partnership agreement and other regional and global deals as well as provincially-zoned land for activities supporting textile and garment production in Bau Bang district and Ben Cat … [Read more...]

Chinese businesses keen on investing in Binh Duong


(VOV) - China has invested nearly US$1.4 billion in 204 projects in southern Binh Duong province, said Tran Thanh Liem, Vice Chairman of the provincial People’s Committee. At a May 4 meeting with an 18-member business delegation from Chinese Fujian province, Liem said Binh Duong leads provinces and cities nationwide in terms of foreign direct investment (FDI) garnering with 2,460 projects which are valued at nearly US$21 billion. He added that the province always creates a niche for investors to operate effectively. Binh Duong encourages and gives priority to investment projects in industrial zones which have modern technologies, highly competitive products and less pollution. To take advantages brought about by free trade agreements, especially the Trans-Pacific Partnership (TPP), the province has planned special zones for the garment support industry in Bau Bang district and Ben Cai town and for the timber support industry in Bac Tan Uyen IZ. The Fujian businesses’ … [Read more...]

15 primary school pupils hospitalized for food poisoning suspicion


Fifteen pupils of a primary school in the southern Binh Duong Province were today hospitalized for suffering stomachache, headache, and feeling of nausea after taking lunch provided by Phu Nhat Hao Company. The third and fourth graders of Vo Thi Sau School, located in My Phuoc Ward of Ben Cat Town, were admitted into Ben Cat Health Center with the symptoms suspected of food poisoning. Five of them were under severe conditions and sent to emergency ward. They are all day-boarders at the school, displaying the symptoms just 30 minutes after eating lunch. Phu Nhat Hao supplied the school 388 food rations for lunch today, said Huynh Thi Lang, headmistress of the primary school, who added that the company, located in Bach Dang Commune in Binh Duong’s Tan Uyen Town, has provided the school with meals from August last year. Last month, Phu Nhat Hao was protested by parents of pupils of Long Binh primary school in the province’s Bau Bang District for providing stale … [Read more...]

Chinese enterprises to invest in Binh Duong

A delegation from the China Business Association - Ho Chi Minh Branch (CBAH) led by President Miao Ren Lai visited southern Binh Duong province on March 27 to evaluate the local investment climate. Chairman of the provincial People’s Committee Tran Van Nam briefed the delegation on the locality’s socio-economic context in recent years, noting that the province prioritises projects using advanced and environmentally-friendly technology. To prepare Binh Duong for the impacts of the Trans-Pacific Partnership (TPP) Agreement and other international and regional agreements, the province has zoned off areas for the textile support industry in Bau Bang district and Ben Cat town as well as for the timber support industry at Bac Tan Uyen Industrial Zone, according to Nam. The locality will continue to upgrade its infrastructure and reform its administrative procedures to attract more investors, he pledged. About 125 Chinese enterprises currently operate in Binh Duong with a … [Read more...]

Social News 14/3

HCM City to hold 58 job bazaars this year The HCMC Centre for Employment Service (CES) will organize 58 job bazaars this year to help locals find jobs and meet the recruitment demand of local enterprises. The center will launch 20 job bazaars in the downtown area and 38 at seven offices for unemployment insurance in districts in the city, the center’s director Tran Xuan Hai said at the opening of this year’s first job bazaar on March 10. The event was attended by 122 recruitment organizations, including 25 enterprises and four job placement centers. They were looking for 3,381 candidates in various sectors such as apparel, security, leather-shoe, customer care service, finance and sales, and the demand for unskilled workers was 865. Last year, CES organized 51 job bazaars, which attracted 2,560 enterprises. These events offered consultancy to nearly 307,000 jobseekers and more than 43,670 out of 88,780 people found jobs, Hai said. Toyota Vietnam holds traffic education … [Read more...]

Those seriously violating food safety regulation to be prosecuted

Early discovering, handling all violations of food safety as per the law and suspending operation, revoking certificates of food hygiene and even prosecuting if it is serious and recurring violation. In its document sent to municipal and provincial people’s committee chairpersons on March 12, the Food Safety Inter-Department Steering Board asked the departments of health, related agencies and authorities to tighten control over food safety and hygiene to caterers and eateries across the country. Following the document, local government should increase inspection and irregular check to catering companies. Inspection includes origin of food materials, facility, processing equipment, preservation methods and transportation. Food safety watchdogs will publicize the names of violating companies and inspection results on media. According to the Food Safety Inter-Department Steering Board, at present, many catering companies are mushrooming to deliver meals to enterprises and … [Read more...]

MoH asks to inspect company over food scandal

The Food Administration of Vietnam under the Ministry of Health (MoH), sent a document to the Department of Health in the southern province of Binh Duong asking to liaise with related agencies to investigate Phu Nhat Hao Company which had used perishable foodstuff to cook meals for students. Immediately after parents of a student in Long Binh Primary School in Bau Bang District of the Southern Province of Binh Duong detected a foul odor and a vehicle of the company transporting perishable foodstuff for cooking meals for students, the Food Administration asked the Health Department to inspect Phu Nhat Hao and kitchen of the primary school. Inspection including inspecting their food supplies and processing methods; taking food samples for test. If inspectors discover any wrongdoing, they must issue strict penalties as per regulation and publicize on media. After receiving the tip from inhabitants that a vehicle of the company transported perishable foodstuff for cooking meals for … [Read more...]

Contaminated food reported in schools

Authorities have told Long Binh Primary School to stop providing canteen lunches for students until doubts about contaminated food are cleared up. Deputy Head of Bau Bang District's education and training department Nguyen Tuan Tu said that the matter was being investigated. He said that other schools that provided lunch for students had also been told to inspect their food supplies and processing methods. As many as five schools in the district have signed contracts with Nhat Phu Hao Ltd, a company specialising in food delivery. Nhat Phu Hao Ltd's head office is in Binh Duong Province's Tan Uyen Township, but it leases the Long Binh Primary School canteen for the cooking of food. The primary school has 774 pupils, of which 650 have registered for the lunch at school. The food suspected of being contaminated was identified as comprising 72kg of fish and 12kg of meat. The food was intercepted while it was being transported to the Long Binh Primary School canteen last Thursday … [Read more...]

Bau Bang – Dau Tieng Campaign (November 12th – 27th 1965)

Students of Lai Uyen Secondary School visiting Bau Bang Victory Monument

PANO - After the defeat in Binh Gia in 1964, signaling the risk of bankruptcy of the US special war strategy, Dong Xoai and Ba Gia campaigns in summer of 1965 totally pushed the strategy to go bankrupt. In response to the situation, the US imperialists massively sent US troops to South Vietnam, starting the strategy of "localized war" with the goal of "seek and destroy and pacification to crush the backbone of Viet Cong." In October 1965, the US 1st Infantry Division and the 3rd Brigade were dispatched to Lai Khe. In early November, the 3rd Brigade assigned two battalions stationed to Bau Bang, ready to join the Saigon government’s troops in launching an operation in the liberated areas to relieve pressure and provide supplies for Dau Tieng. In Bau Bang - Dau Tieng area, one US infantry division ("Big Red Brother" Division) and seven regiments of five divisions of Saigon troops were stationed. The troops were ready to conduct the "seek and destroy" strategy of the "localized … [Read more...]

70 years of development of the heroic Vietnam People’s Army – Major Events (Part 3)

President Ho Chi Minh observing the battle of Dong Khe (1950). A filed photo

PANO - Together with the Dien Bien Phu Campaign ending the anti-French war and the Ho Chi Minh Campaign driving American imperialists out of the country, in wartime, Vietnamese troops and people conducted such typical campaigns as: Part 3: Typical campaigns in the resistance wars against French and American invaders Campaigns in the anti-French war 1. Viet Bac Campaign from October 7th to December 20th, 1947 2. North Quang Nam Campaign in July 1949 3. Song Thao Campaign from May 19th to July 18th, 1949 4. Song Lo Campaign from April 29th to May 31st, 1949 5. Le Loi Campaign from November 25th, 1949 to January 30th, 1950 6. Cau Ke Campaign from December 7th to 26th, 1949 7. Cao-Bac-Lang Campaign from March 15th to April 30th, 1949 8. Le Hong Phong Campaign from February 7th to March 15th, 1950 9. Border Campaign from September 16th to October 14th, 1950 10. Ben Cat II Campaign from October 7th to November 15th, 1950 11. Tran Hung Dao Campaign from December 25th, 1950 to … [Read more...]

HCMC & Myanmar to continue opening more cooperation opportunities

The Ho Chi Minh Party Secretary Le Thanh Hai had a meeting with Speaker of the Assembly of the Union of Myanmar Thura U Shwe Mann and Myanmar high-rank level delegations in Ho Chi Minh City, on September 8. On behalf of the city's party leaders and government, Mr.Hai welcomed and appreciated highly the visit of Myanmar delegation in Vietnam. He said that this visit is an important event to mark the relationship between Myanmar and HCMC. Mr. Hai confirmed that the relationship between HCMC and Yangon city of Myanmar will continue developing incessantly. The import-export turnover increased three fold within last three years; expressing hope that Mr Thura U Shwe Mann will create the favorable conditions for two cities to tie cooperation in all fields. … [Read more...]