MTA Vietnam 2013 – A useful forum for industrial production

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(VEN) - Eleven national booths of countries with developed precision engineering industries have registered to participate in the Vietnam International Precision Engineering, Machine Tools and Metalworking Exhibition and Conference (MTA Vietnam 2013), scheduled to take place in Ho Chi Minh City from July 2-5, 2013. Visitors at the MTA 2012 Data shows that Vietnam's production and processing industries are drawing the attention of foreign investors. The Foreign Direct Investment (FDI) in these two industries has increased in recent years with capital proportion in total FDI committed amount rising from 40 percent in 2010 to 48.5 percent and 69.9 percent in 2011 and 2012 respectively. Last year also witnessed more investment capital flows from multi-national corporations like Fuji Xerox, Samsung, Nokia and Intel into production bases in Vietnam. Japan's Nidec Seimitsu Corporation, the world's largest producer of micro motors in mobile phones decided to build its first plant in Vietnam … [Read more...]

BUSINESS IN BRIEF 31/3

Cement association worries about foreign competition Many Vietnamese cement companies are on the verge of bankruptcy, which would lead to them being bought out by foreign partners, according to the Construction Material Association. The massive investment in the domestic cement market has lead to the redundancy According to the association, due to the economic difficulties, domestic demand for cement during the 2011 - 2013 period was forecast to decrease by around 14-15 million. Meanwhile, new projects had continued being implemented. The association said by 2015, total cement output of the country would reach 94.24 million tonnes, resulting in a 25 million tonne excess, this would rise to 129.5 million tonnes by 2020. The association suggested reviewing the list of cement projects to more realistically match market demand and focus on raising the efficiency of plant management. It has also recommended the cancellation of nine planned cement projects and a reconsideration over … [Read more...]

FDI slows, but still flows to hi-tech

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While foreign direct investment (FDI) to Vietnam declined in 2012 from the previous year, there are remarkable signs that the nation is attracting more investments to hi-tech industries. This is the first manufacturing facility of Fuji Xerox in Vietnam and it will mainly manufacture products such as digital colour multifunction devices and small-sized light-emitting diode printers. The manufacturer announced plans to employ 700 local workers and produce two million units per year in the first phase, equal to two-thirds of the capacity and scale of other Fuji Xerox's factories in Japan or China. Fuji Xerox is one of several multinational hi-tech firms having made bigger investments in Vietnam in 2012, among others such as Samsung, Nokia, Intel and GE. Not only investing in production lines, both Samsung and Nokia also plan to build research and development centres in the country. "This is what we have been waiting for a long time. Now it is becoming true," Nguyen Mai, … [Read more...]

Japan expands investment in Vietnam amid economic slowdown

While many local firms have scaled down or even closed amid the tough economic times, several Japanese firms have expanded investment in Vietnam, demonstrating their faith in the market. Japan's Tokyu Corporation has recently cooperated with Vietnamese industrial investment and development firm Becamex IDC to develop a US$1.2- billion project called Tokyu Binh Duong Garden City in the southern province of Binh Duong. In June, Nidec Seimitsu Vietnam Corporation, a subsidiary of the Japan-based Nidec Corporation, received a license to establish a manufacturing company with an investment of $40 million in Ho Chi Minh City. The new subsidiary company plans to construct its first factory by the end of 2012 to produce and trade micro-motors used in cell phones. … [Read more...]

Nidec invests in Ben Tre Province

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Japan-based Nidec Corporation started work on a new plant in Giao Long Industrial Park in Ben Tre province yesterday after carrying out several projects in Ho Chi Minh City, according to the Ben Tre Industrial Parks Management Authority. The plant worth some $39.6 million is scheduled for operation next September, and all products will be exported. This is the first investment of Nidec outside Ho Chi Minh City. Nidec has previously invested in production plants in Saigon Hi-Tech Park (SHTP) and Tan Thuan Export Processing Zone in the second city. Specifically, in SHTP, Nidec has had five investment projects with total pledged capital of $246.5 million, with four already operational and the last one, Nidec Seimitsu Vietnam, scheduled for operation late this year. The total export revenues of the four operational projects as of May were over $740 million, and over $9.5 million have been paid to the city's coffer, according to SHTP. The expansion of Nidec's investment to … [Read more...]

Massive investment potential is untapped

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Vietnam is still ranked among the 20 top prospective host economies for foreign direct investment. According to the “World Investment Report 2012” released by the United Nations Conference on Trade and Development (UNCTAD) early this month, Vietnam kept its 11th position as the most prospective economy for investment during 2012-2014. The ranking is based on the respondents of 174 validated transnational companies (TNCs). … [Read more...]

Nidec licenced to open new factory at hi-tech park

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Nidec Seimitsu Vietnam Corporation, a subsidiary of the Japan-based Nidec Corporation, on Monday received an investment certificate to develop a micro-motor factory at the Saigon Hi-Tech Park (SHTP) in Ho Chi Minh City. This is the fifth investment project of Nidec Corporation at SHTP, carried out under the commitment between the corporation and SHTP authority made in 2005. The Nidec Seimitsu Vietnam Corporation project worth a total of $40 million will develop, produce and trade micro motors used in cell phones. Moreover, in the coming time, the company plans to produce motors for medical equipment. Nidec Seimitsu Vietnam Corp. expects to start work on the new factory this month and put it into operation in late this year. According to the company's plan, the factory will achieve stable production within the first three years after it starts service, with an output capacity of 45 million units a month and monthly revenue of $8 million. Vietnam is the third destination of Nidec … [Read more...]

Nidec licensed to open new factory at hi-tech park

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HCMC - Nidec Seimitsu Vietnam Corporation, a subsidiary of the Japan-based Nidec Corporation, on Monday received an investment certificate to develop a micro-motor factory at the Saigon Hi-Tech Park (SHTP) in HCMC. This is the fifth investment project of Nidec Corporation at SHTP, carried out under the commitment between the corporation and SHTP Authority made in 2005. Le Bich Loan (L), deputy head of SHTP Authority, hands over the investment certifi cate to Kazuto Hirasawa, vice chairman of Nidec Seimitsu Corporation - Photo: Quoc Hung The Nidec Seimitsu Vietnam Corporation project worth a total of US$40 million will develop, produce and trade micro motors used in cell phones. Moreover, in the coming time, the company plans to produce motors for medical equipment. Nidec Seimitsu Vietnam Corp. expects to start work on the new factory this month and put it into operation in late this year. According to the company's plan, the factory will achieve stable production within the … [Read more...]

Japanese enterprises increase presence in Vietnam

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(VEN) - Director of the Japan External Trade Organization (JETRO) in Ho Chi Minh City (HCMC) Kazuhiko Osato while attending the organization's trade show for Japanese national pavilions at the Vietnam International Precision Engineering, Machine Tools and Metalworking Exhibition and Conference (MTA Vietnam 2013), which will take place in HCMC from July 2-5, 2013 said Japanese businesses are increasing their presence in Vietnam. A machine tool pavilion at the MTA Vietnam 2012 Japan has the largest foreign investment in Vietnam. In 2012, Foreign Direct Investment (FDI) flows into Vietnam from Japan reached US$7.8 billion, accounting for 51 percent of the total FDI registered in the country. In the first five months of the year, Japan has also invested US$3.7 billion, raising its total registered capital in Vietnam to US$32.28 billion and total Japanese investment projects to 1,947 projects. For the past five years, many Japanese businesses have built production plants in Vietnam. In … [Read more...]

11th MTA Vietnam Expo to Take Place in HCMC in Early July

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The 11th Vietnam International Precision Engineering, Machine Tools and Metalworking Exhibition and Conference (MTA Vietnam 2013) is scheduled to take place from July 2 to 5, 2013 at the Saigon Exhibition and Convention Centre (SECC), Ho Chi Minh City. MTA Vietnam 2013 is an international event for Vietnamese manufacturing industry. A wide variety of high-end manufacturing technologies, numerous engaging activities and an abundance of networking opportunities at MTA Vietnam 2013 are available for professionals from Vietnam's manufacturing industry. Up to now, 11 group pavilions have been registered from France, Germany, Italy, Japan, South Korea, Singapore, Taiwan ( China) and Thailand. Mr William Lim, Project Director for MTA Vietnam 2013 from the show's organiser, Singapore Exhibition Services (SES), said: "MTA Vietnam has played a key role in supporting the growth of Vietnam's manufacturing industry. By creating a platform for leading brands to showcase their latest products and … [Read more...]