The new Sunny Automotive Optech Vina project will be developed over 43 hectares in WHA Industrial Zone 1 in Nghe An . The factory will specialise in producing cameras for both mobile phones and vehicles, as well as other electronic devices. The factory is slated to go into operation in the fourth quarter of 2025, and once completed, is expected to generate jobs for 20,000 people. Sunny Group has been researching and exploring the investment site in Nghe An since July 2023. After two months, the Chinese group decided to make an investment in the locality. In March 2023, Sunny shared its plan to invest up to $2.5 billion in the northern province of Thai Nguyen, which is expected to generate $5 billion in annual revenue and create jobs for 15,000 local people. Excluding the latest investment in Nghe An, Sunny Group has already invested $130 million in four projects in Vietnam, namely Sunny Opotech, Sunny Automotive, Sunny Infrared, and Sunny Opotec. These projects produce … [Read more...] about Sunny Group to build $150-million factory in Nghe An
American medical group association
CBAM may hinder EVFTA advantages for steel industry
Nghiem Xuan Da, chairman of the Vietnam Steel Association (VSA), said, "The CBAM is the latest challenge for Vietnam's steel industry amidst an already tough business climate as it tries to increase exports to Europe under the EU-Vietnam Free Trade Agreement (EVFTA)." The CBAM is the EU's landmark attempt to put a fair price on carbon emissions produced from carbon-intensive goods entering the EU. It aims to encourage cleaner industrial production in non-EU countries. According to the VSA, Vietnamese steel exports to the EU have been on a positive trajectory thanks to the implementation of the EVFTA in August 2020, along with the recent shortfall in steel supply to the EU. Steel exports in the first six months of 2023 reached 1.36 million tonnes, with export turnover reaching about $1 billion, an increase of 1.5 times compared to the same period in 2022. In response to the new policy, Posco Yamato Vina Steel (Py Vina), under South Korea's Posco Group, is researching a new … [Read more...] about CBAM may hinder EVFTA advantages for steel industry
Westlife to hold show in HCMC
Boy group Westlife. Photo from Westlife's Facebook The group announced the news with a post on their Facebook account saying: "VIETNAM! We are so excited to be coming back with the Wild Dreams tour on November 22, 2023." The event organizers have confirmed that Vietnam is one of eight stops in Asia, along with Indonesia, Hong Kong, Singapore, the Philippines, Malaysia, Taiwan, and Thailand. The show’s seat map and ticket prices are set to be announced this week, while tickets for the show will be available for sale starting September 26. The setlist is expected to include many of the group’s best hits, from "Uptown Girl," "Seasons in the Sun," to "Flying Without Wings" and "No One’s Gonna Sleep Tonight." Westlife were formed in 1998 in Dublin, Ireland. The group disbanded in 2012 before reuniting again in 2018. The current members of the group include Shane Filan, Mark Feehily, Kian Egan, and Nicky Byrne. They are holders of four Guinness World Records, including the … [Read more...] about Westlife to hold show in HCMC
Hong Kong to help elevate Việt Nam’s stock market potential
Christina Bao, Co-Head of Sales & Marketing at the Hong Kong Exchanges and Clearing Limited (HKEX). — Photo courtesy of HKEX The Vietnamese stock market is a key capital mobilisation channel for the economy and is undergoing improvement and upgrading towards emerging status. Considered as Asia’s financial hub, Hong Kong is a role model for Việt Nam to follow. When Christina Bao, Co-Head of Sales & Marketing at the Hong Kong Exchanges and Clearing Limited (HKEX), came to Việt Nam for a conference, Việt Nam News reporter Ly Ly Cao took the opportunity to speak to her about solutions to enhance the country’s stock market and how Hong Kong can support Việt Nam in the upgrading process. What do you think about the Vietnamese stock market in its current state? Việt Nam’s economy is on very strong momentum in terms of GDP growth, which grew by more than 8 per cent last year and is hopefully to reach 6 per cent this year. This sets a very strong foundation for the local … [Read more...] about Hong Kong to help elevate Việt Nam’s stock market potential