In late March 2017, Truong Hai Automobile kicked off the $500 million project on manufacturing and assembling Mazda in Chu Lai IZ with the capacity of 100,000 products a year. The first phase of the project, to have the capacity of 50,000 products, is scheduled to be completed by April 2018. This will be a modern automobile factory with automatic production lines, robots and advanced technologies.The Mazda factory is just one of the new investment projects of Truong Hai. In 2017, the corporation invested VND30.47 trillion to build 8 car assembling, 19 car part manufacturing factories and one R&D center. It plans to manufacture sedans, trucks and passenger cars with the localization ratio of 40 percent at minimum for domestic sale and export.Hyundai Thanh Cong in early April 2017 decided to set up a 120,000 product per annum assembling plant in Ninh Binh. From 2018, when the plant becomes operational, 90 percent of Hyundai cars to be sold in Vietnam will come from the … [Read more...] about Will made-in-Vietnam cars roll on SE Asia streets?
(Cinet)- Japanese dance performances which are based on street dance by three groups, “Moreno Funk Sixers”, “Memorable Moment” and “90’s” will serve fans from March 14-15, at Youth Theatre, Hanoi. The Japan Foundation Asia Center starts a long-term ASEAN project named “Dance Dance Asia” from 2015 to support the exchange and collaboration of Asian regional dance companies/dancers that are based on street dance, including not only hip-hop but variety of genres such as jazz dance, contemporary dance. Street dance has become one of the most popular dance genres since it was introduced in Japan in the 1970s. So far, the number of dance studio and practitioners has increased significantly. Rhythm dance has now incorporated into the school education through the subject of "modern rhythm dance", and have become familiar subject to many young people. Additionally, since the beginning of the 2000s, dance companies based on street dance … [Read more...] about Japanese street dancers to perform in Ha Noi
Thai Beverage (TBEV.SI) has won an auction to buy a majority stake worth $4.84 billion in Vietnam’s top brewer Sabeco SAB.HM, a lofty deal that adds a major asset to the beer-to-property empire of Thai magnate Charoen Sirivadhanabhakdi. The deal is a big step for Charoen, the son of a Bangkok street vendor, who is emerging as one of Asia’s biggest power players in brewing. He dominates his home market with Chang beer and owns Singapore’s Fraser and Neave Ltd (FRNM.SI). The Sabeco stake will give him control of brands like Saigon Beer and 333. The Sabeco deal will also help Thai Beverage (Thai Bev) tap into Vietnam’s beer market, worth about $6.48 billion last year, where a young population and booming economy are an attractive lure, despite political resistance, a high minimum bid price and a cap on foreign ownership. Thai Bev’s local unit, Vietnam Beverage Co Ltd, was named winner of the 54 percent Sabeco stake on offer at the auction on Monday after … [Read more...] about Thai beer magnate extends SE Asia push with $4.8 billion Sabeco deal
While making my TV show, “The Airport Economist”, I have visited over 60 economies in the past six years. And one that has always stood out to me was the enchanting land of Vietnam, one of the emerging ‘second generation’ tiger economies of Asia.Vietnam, with its young and vibrant population, is the newest poster child for attracting foreign investment, and has been developing the much needed infrastructure that is required to get the economy moving. There is a real buzz on the streets of Ho Chi Minh City – at least from the numerous motorcycles that zoom around.Why is Vietnam becoming more attractive to foreign investors? Let’s first have a look at ‘the big picture’ in terms of the Vietnamese economy.Vietnam is considered to be a ‘transition tiger’ economy, moving from a planned economy to one that is more open and market orientated. Despite healthy average growth rates above 6 per cent per annum over the past decade, it is … [Read more...] about Asia’s newest tiger clawing its way up
The retreat is the latest to hit Asia as investors fret over a recent rally that has sent several indexes to record highs, though a surprise jump in a gauge of Chinese factory activity provided some support to Shanghai.While Wall Street saw the Dow chalk up a fresh record following strong US economic growth figures, the Nasdaq took a hammering with analysts pointing to a technical shift ahead of a Senate debate on tax cuts this week."The prospect of US tax cuts actually being passed appears to have prompted a value rotation away from the FANG stocks and the tech-heavy Nasdaq and back toward financials and other sectors of the market that will benefit if the tax bill does indeed pass into law," said Greg McKenna, chief market strategist at AxiTrader.FANG refers to tech titans Facebook, Apple, Netflix and Google - which now trades as Alphabet - that have been at the forefront of a market surge in the sector this year.The selling flooded through to Asia, where Samsung dived 3.4 per cent … [Read more...] about Asia tech firms lead losses as regional markets tumble