VSIP BAC NINH & a Strategy for Attracting Foreign Investment

Dream Tech Co., Ltd in VSIP Bac Ninh. Photo: Thong Hai/VNP

VSIP Bac Ninh’s construction started in 2007 in a total area of 700ha, including 500ha for the industrial zone and 200ha for the urban and service area. The project is worth about two billion dollars and plans to provide jobs for 50,000 people. The industrial park completed stage No. 1 and has undergone stage No. 2 with the participation of 51 foreign investors from Japan, Taiwan, RoK, Singapore and the US, namely Microsoft, Suntrory PepsiCo, Foster, Mapletree and Nittan, employing 20,000 labourers. It accounts for 18% of FDI of the whole province of Bac Ninh. Customers of VSIP Bac Ninh come from 23 countries around the world. The industrial park was built with a self-contained and synchronous infrastructure system of electricity, water, a waste water treatment factory and telecommunications. There are also useful services such as a bank, restaurants, two water supplying plants of 10,000m3/day to serve the production activities and an electricity grid of 22kV. At the … [Read more...]

Honda Vietnam achieves new record on auto sale in 2014

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Illustrative image (Source: HVN) Honda Vietnam (HVN) sold as many as 6,492 automobiles in 2014, up 41 percent from 2013, according to D irector of the Automobile Division at Honda Vietnam Tomohiro Maruno. The figure is the highest number of annual auto sales in Vietnam since HVN was established, bringing the company to the fourth highest touring car sales rate among leading auto businesses. From the outset of 2014 , HVN boosted sales by offering promotional programmes and launching catalogue products such as new generations of the City and Accord as well as new versions of the Civic and CR-V. Accordingly, the fourth generation of Honda City and CR-V 2015 were the two best selling brands of HVN in 2014. With 2,944 cars sold, sales of Honda City’s in 2014 were more than double those of 2013, with an additional 2,918 CR-V’s sold, up 34 percent from 2013. In December alone, consumers bought a total of 837 vehicles, an 18 percent increase from the same period last … [Read more...]

Electronic giants pioneer Vietnam’s support industry

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(VOV) - Foreign direct investment has been the catalyst for economic growth in Vietnam over recent years, and capital investment by foreign enterprises continues to set the pace for development of the nation’s support industries. Intel is believed to have started the second wave of foreign investment in Vietnam when it built a US$1 billion chip manufacturing facility in Ho Chi Minh City back in 2010 but it was Samsung who sealed the deal. The Republic of Korean technology giant has methodically moved its manufacturing base to Vietnam away from China and currently contributes up to nearly 20% of the total export turnover of Vietnam. In recent years, international giants such as Samsung, Intel, Canon, Panasonic, Fujitsu, LG, Bosch and Nokia have followed suit pumping billions of US dollars into the Vietnamese electronics industry. Samsung has injected billions of US dollars into smartphone production plants in the country, principally in the Hanoi metropolitan and surrounding … [Read more...]

Honda considers relocating Vietnam bike production back to Japan

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Japanese automaker giant Honda Motor Co. is weighing the possibility of relocating part of its motorcycle production in Vietnam back home as Japan’s domestic manufacturing costs have fallen over the weak yen, a representative with its Vietnamese unit has said. The production and assembly lines of motorbikes with under 50cc engines could likely be relocated to Kumamoto Prefecture this year, according to the Honda Vietnam representative. Details for the plan could not be disclosed immediately, the source added. It was reported earlier this year that the production lines will be transferred back to Japan to meet domestic demand. Honda’s annual motorbike sales in the Japanese market are around 200,000 units, half of which are those with under 50cc engines. With production costs in Japan soaring, the company previously had to move part of its production to Vietnam to save costs. But it is now costlier to import made-in-Vietnam motorbikes than make them … [Read more...]

Breakfast @ Tuoi Tre News – January 14

Politics    -- The Vietnamese government has just released a decree on implementing democracy in state administrative agencies.    Society

Enjoy your breakfast while reading these news items in brief on Tuoi Tre News today, January 14, 2015 -- Several political leaders including Deputy Prime Minister Nguyen Xuan Phuc on Tuesday visited Nguyen Ba Thanh, chief of the Party Central Committee’s Commission for Internal Affairs, at Da Nang Hospital in the central city of Da Nang, where he is receiving treatment for his myelodysplastic syndrome. Thanh is now alert and can eat soup, porridge and some other easily digestible food. -- The Vietnam Airport Traffic Management (VATM) on Tuesday inaugurated the Hanoi Air Traffic Control Center. The three-year construction project cost VND750 billion (US$34.95 million). -- About 4.5 percent of Hanoi people, the majority of whom are young, were unemployed in 2014, the capital’s Department of Labor, War Invalids, and Social Affairs told a Tuesday meeting. -- Le Quy Vuong, Deputy Minister of Public Security, said during an online meeting on traffic safety in Hanoi on … [Read more...]

Bright prospects for foreign investment in 2015

(VOV) -Government economists have forecast that the overall improvement in the global economy would create more favourable conditions for foreign direct investment (FDI) in Vietnam in 2015. According to the Binh Dinh provincial Economic Zones’ Management Board, the province has already seen an upswing in registered capital for the year and has plans to grant an investment licence to the Victory Nhon Hoi-Binh Dinh oil refinery super-project in the first quarter. If the plan materializes this year’s FDI in the project would be much higher than last year’s figure as the oil refinery super-project alone has an investment of US$22 billion and the province has many other project applications on file. Head of the Management Board Man Ngoc Ly said the province has lately been working with two significant investors – Vietnam-Singapore Industrial Park (VSIP) and Thailand’s Amata – to locate suitable places to build industrial zones. Ly said that if … [Read more...]

Vietnam has five longest volcanic caves in Southeast Asia

A frog species discovered in the C7 cave.

VietNamNet Bridge - With a record length of three caves in the lava cave system recently discovered in Dak Nong Province, Vietnam has five longest lava caves in Southeast Asia. Previously, Hang Doi 1 and 2 (Bat Caves) in Dong Nai held the top spots. Relate news In pictures: Largest volcanic cave in Southeast Asia discovered in VNTourism set to boom on discovery of volcano cavern systemDiscovering art treasures in Hanoi’s heart Discovering art treasures in Hanoi’s heart A 25 km volcanic cave system was discovered in Krong No district, in the highlands province of Dak Nong. The information was announced at a press briefing held in Hanoi on December 26 by General Department of Geology and Minerals of Vietnam (GDGM) and the Japan Caving Association (JCA). Since 2007, with the support of UNESCO, GDGM has implemented the project "Study of geological heritage to build the geological park and protect the environment of the area of Trinh Nu Waterfall, in Cu Jut District, Dak … [Read more...]

Motorbike manufacturers increase export

Domestic vehicle production output reached 5 million units this year, nearly doubling the market demand. However, companies still expanded their scale with expectation to turn Vietnam into one of the largest motorbike manufacturing countries in the world. Though motorcycle manufacturers’ turnover decreased drastically recently, manufacturing capabilities increased sharply. As per a statistic, the companies have produced nearly 5 million a year. Furthermore, many manufacturers have continued expanding scale. Honda Vietnam has recently put into operation of the third motorbike factory with capacity of 500,000 units a year. Similarly, Yamaha has also spent nearly US$30 million on its factory to raise its manufacturing capability to 1.5 million vehicles per year. Along with expansion of scale, the companies have introduced more new vehicles to promote local consumption. In addition, they have also raised export of vehicles and vehicle parts. For instance, since the second quarter … [Read more...]

Ten outstanding Vietnamese students receive Honda Y-E-S Award

At the awards ceremony   NDO – Ten Honda motorbikes and total prize money of US$30,000 were presented to ten outstanding Vietnamese students – the winners of the 2014 Honda Y-E-S Award – at a ceremony in Hanoi on December 6.

The honourees include two from the Hanoi University of Science and Technology; five from the Technology University under the Hanoi National University; two from the University of Natural Sciences under the Hanoi National University; and one from the Ho Chi Minh City University of Science and Technology. The prize winners were the best students selected among 114 profiles of those with high academic results and outstanding achievements in scientific studies sent to the Award’s office since it was launched in April this year. … [Read more...]

770 bikes presented to underprivileged children through “Real life journey” initiative

Photo: Thanh Ngan

(CPV) - The National Fund for Vietnamese Children and AIA Life Insurance (Vietnam) Limited Company on December 4th co-organized the summary event of "Real life journey" initiative in Ho Chi Minh city. So far, as many as 770 bikes (worth more than VND1.3 billion) have been presented to underprivileged children in 22 provinces and cities nationwide after one year of implementation. At the ceremony, organizers handed over 80 bikes (each worth VND1.7 million) and gifts to needy children in the city. On this occasion, "Together with children to school" program (Initiated by Vice State President Nguyen Thi Doan in September, 2012) presented some of 110 scholarships (VND3 million each) and 10 portions of school-sponsored fee (VND5 million each) to students, increasing the total value of scholarships and bikes supported to children in the city to VND516 million. The organizing board also received valuable contributions equivalent to 200 bikes from benefactors, including 50 bikes from … [Read more...]

Seeking Japanese assistance to develop supporting industries

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(VOV) - Seminars on investment cooperation to develop the support industries in Vietnam and introduction of the Hanoi South Supporting Industrial Park and Vietnam’s incentive policies have been held in Fukuoka, Osaka and Kyoto, Japan from November 25 – 28. Speaking at the Osaka and Kyoto seminars, Consul General in Osaka Tran Duc Binh affirmed that Vietnam-Japan relations have been developing strongly in all fields, from politics, security, economy, trade, and scientific research to people-to-people exchange, laying a firm foundation for Japanese investors to operate in Vietnam. … [Read more...]

Motorcycle companies struggle to stay a float

(Photo for illustration). Source: vneconomy.vn

Motorcycles manufacturers in Vietnam are trying to survive in the face of a prolonged market slump by introducing more budget units with higher domestic content. The Vietnam Association of Motorcycle Manufacturers (VAMM) revealed that from April to September, all of its five members sold a combined 1.25 million units, a seven-percent year-on-year decline. However, September witnessed a slight increase in sales due to students' higher demand for new motorcycles during enrolment. August marked the 15th consecutive month of decline in the volume of motorcycle sales. However, manufacturers remained optimistic and even introduced a number of new models in recent months. … [Read more...]

Vietnam Manufacturers Investing in Modern Technologies Best Positioned to Capitalise on Rising Global Demand

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The Hanoitimes - Vietnamese manufacturers are currently benefiting from sustained growth in demand for their goods across international markets. By: Trinh Long Dien, Vietnam Country Manager, Honeywell Scanning & Mobility CEIC data on Vietnam recently highlighted a gross domestic product (GDP) growth of 5.42 percent in 2013 to a value of $158.9 billion, with this projected to rise to $203.7 billion by 2018. This strengthening GDP has also been spurred by a $21.6 billion 2013 foreign direct investment (FDI), which increased at a rate of 54.5% year-on-year. … [Read more...]

Honda launches $120m motorbike factory

HA NOI (VNS) - Honda Vietnam on Monday inaugurated a motorbike manufacturing factory in the northern Ha Nam Province. The US$120-million factory, the third of its kind in Viet Nam, is located in the Dong Van 2 Industrial Park and can produce 500,000 motorbikes per year. The factory has workshops for assembling engines, complete motorbike casting and processing parts, as well as painting. In the first stage, the factory, with nearly 1,300 workers, will manufacture 1,000 motorbikes per day. Japan has 2,410 projects with a total investment capital of US$36.3 billion in Viet Nam, topping the list of 101 countries and territories that have been investing directly in the country. - VNS … [Read more...]

Honda Vietnam opens third plant

The ribbon is cut to open Honda’s third motorcycle factory - PHOTO: HONDA VIETNAM

Hung Le Having an investment of some US$120 million, the new factory covering an area of over 270,000 square meters has total designed output of 500,000 motorcycles per year. The launch of this factory helps raise HVN's annual manufacturing capacity to 2.5 million units. … [Read more...]

Honda Vietnam inaugurates 3rd motorbike plant at cost of $120mn

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The number of Honda motorcycle production plants in Vietnam has risen to three with the latest facility officially opening in a northern province on Monday. The new US$120 million plant is situated in the Dong Van 2 Industrial Park in Ha Nam Province, some 40km from Hanoi, Honda Vietnam Co. Ltd., the motorcycle and automobile sales and production joint venture of the Japanese vehicle maker in the Southeast Asian nation, said in a press release. … [Read more...]