Global urban competitiveness project

Ho Chi Minh City is calling for investment into 197 projects in ten key areas, including infrastructure development, agriculture, industry, trade and services, healthcare, tourism, education and housing, an official told the Vietnam – Europe Business Forum in the southern largest economic hub on June 30. The Vietnam – Europe Business Forum takes place in HCM City on June 30. (Photo: VNA) Dao Minh Chanh, Deputy Director of the municipal Department of Planning and Investment, said EU countries are investing in 2,724 projects in HCM City, mostly in the fields of manufacturing and processing, retaile and wholesale, motor and automobile repair and maintenance, and information and communications. Worth a total of 7.69 billion USD, they account for 10.27% of FDI in the city, he said. HCM City has constantly improved its business climate and adopted various incentives to encourage more FDI, he said, adding that most notably among the incentives include … [Read more...] about HCM City calls for EU investment in nearly 200 projects

On June 30, the project started to revise and select eligible and qualified businesses to receive support packages for the second intake of 2022, running from April 1 to June 30. The USAID IPSC, with a total budget of $36 million, is currently Vietnam's largest private-sector technical assistance project funded by the United States Agency for International Development (USAID). The project aims to support businesses to overcome the pandemic, improve their capacity in governance, technology, financial access, innovation, and market access, and promote a favourable business investment environment. USAID IPSC targets to support 5,000 small and growing businesses. USAID IPSC officially launched and opened registration on January 18. The applicants go through selection processes (the first in April, the second in July, and the third in November), to receive support packages. In 2022, USAID IPSC offers six different support packages for businesses based on overall project … [Read more...] about Hundreds of businesses to receive support from USAID IPSC Project

Major tech-based companies like Samsung and Intel already have a presence in Vietnam, but the country is seeking even more, Photo: Le Toan The Fortune Global 500 goal is a highlight of Vietnam’s strategy for foreign investment cooperation for the 2021-2030 period. At a conference on strengthening Vietnam-Japan cooperation and development organised in the northern province of Vinh Phuc last week, Masuoka Hiroyoshi, general director of Thang Long Industrial Park Company, said that the group is continuing to survey locations to develop industrial zones, following Thang Long I and II industrial parks (IPs) in Hanoi and the northern province of Hung Yen and Thang Long IP in the northern province of Vinh Phuc. Sumitomo Corporation is one of the groups listed on the Fortune Global 500, and has operated IPs for over 20 years in Vietnam. “Since first entering Vietnam, the corporation has received support from the government, relevant authorities, and localities in completing … [Read more...] about Vietnam going for gold with Fortune Global 500 attraction

Samsung Viet Nam completed a part of the construction for its new research and development (R&D) centre in Ha Noi in May this year. — Photo courtesy of Samsung Many manufacturers in the global supply chain of major firms are gradually focusing on Viet Nam. In particular, Apple has moved 11 factories of Taiwanese enterprises in its supply chain to Viet Nam. Many other firms such as Foxconn, Luxshare, Pegatron, and Wistron are also expanding their production facilities in Viet Nam. This information was shared at a conference on the situation and proposed tasks and solutions to remove difficulties and support production and business in the last six months of this year, organised by the Ministry of Planning and Investment this week. Samsung built its largest research and development centre in Southeast Asia worth US$220 million in Ha Noi and is also planning to continue to expand factories in the northern provinces of Bac Ninh and Thai Nguyen. Earlier this year, Dong Nai … [Read more...] about Global manufacturers gradually focus on Viet Nam

Samsung Vietnam completed a part of the construction for its new research and development (R&D) centre in Ha Noi in May this year. - Photo courtesy of Samsung In particular, Apple has moved 11 factories of Taiwanese enterprises in its supply chain to Vietnam. Many other firms such as Foxconn, Luxshare, Pegatron, and Wistron are also expanding their production facilities in Vietnam. This information was shared at a conference on the situation and proposed tasks and solutions to remove difficulties and support production and business in the last six months of this year, organised by the Ministry of Planning and Investment this week. Samsung built its largest research and development centre in Southeast Asia worth US$220 million in Ha Noi and is also planning to continue to expand factories in the northern provinces of Bac Ninh and Thai Nguyen. Earlier this year, Dong Nai Province granted investment licences for two $100 million projects of a component supplier for … [Read more...] about Global manufacturers gradually focus on Vietnam

The Vietnam – Europe Business Forum takes place in HCMC on June 30. (Photo: VNA) Dao Minh Chanh, Deputy Director of the municipal Department of Planning and Investment, said EU countries are investing in 2,724 projects in HCMC, mostly in the fields of manufacturing and processing, retail and wholesale, motor and automobile repair and maintenance, and information and communications. Worth a total of US$7.69 billion, they account for 10.27% of FDI in the city, he said. HCMC has constantly improved its business climate and adopted various incentives to encourage more FDI, he said, adding that most notably among the incentives include reductions in corporate income tax, import-export duties and land lease. Vo Van Hoan, Vice Chairman of the municipal People’s Committee, highlighted the importance of the EU-Vietnam Free Trade Agreement (EVFTA) which has entered into force, saying it has brought great and balanced benefits to both sides and there is a huge opportunity for Vietnam and … [Read more...] about HCMC calls for EU investment in nearly 200 projects

Prime Minister Pham Minh Chinh, at his meetings with Vietnamese farmers and agricultural businesses a few weeks ago, cited the success of TH Group as a fine example of high-tech agricultural development, and the circular economic model being pursued by the government. Famous for its TH true MILK brand, TH Group has been operating a $1.2 billion farm cluster project in the central province of Nghe An, featuring a state-of-the-art dairy cow farm and fresh milk production plant. The facility, which has a total annual capacity of 500,000 tonnes, hopes to quadruple the number of cattle to around 200,000 by 2025. To save production costs, TH Group has been operating a state-of-the-art system of solar power panels on the roofs of the farm cluster, and the system has been connected with the national power grid. As of last year, power produced from the panels has met one-fifth of the farm’s electricity demand. In 2019, TH Group began to use straws made from advanced bioplastics. This … [Read more...] about Businesses get set for circular economy

HCM City calls for investment in many projects at the Viet Nam – Europe Business Forum held on Thursday. — VNA Photo Xuan Anh HCM City offers numerous investment and business opportunities for European businesses, a Viet Nam – Europe Business Forum heard on June 30. The event organised by the Investment and Trade Promotion Centre in HCM City heard that the city is soliciting investment in 197 projects in a number of areas such as traffic infrastructure, agriculture, housing, and healthcare. They include the US$761 million Elevated Road No 1 from Tan Son Nhat Airport to the city centre and the $255 million Northern Saigon 2 Wastewater Treatment Plant in Thu Duc City. As of last year the city had 1,044 projects set up by EU businesses out of the 2,263 they had in Viet Nam with investments totalling $6.45 billion, or 12.18 per cent of the city’s total FDI. Vo Van Hoan, deputy chairman of the city People’s Committee, said: “With the EU’s assistance in the form of expertise, … [Read more...] about HCM City attractive investment destination for Europe: forum

Samsung Engineering and DNP Water sign the agreement. Samsung Engineering plans to actively target Viet Nam as a base for the Asian water treatment market. — Photo courtesy of the firm Samsung Engineering, one of the world’s leading engineering, procurement, construction and project management (EPC&PM) companies and Dong Nai Plastic (DNP) Water on Wednesday signed an agreement to acquire a 24 per cent stake in the Vietnamese water treatment company for about 52.7 billion KRW (US$41 million). With this acquisition, Samsung Engineering will hold 24 per cent of the stake in DNP Water, DNP Holding will hold 53 per cent, and other stakeholders 23 per cent. DNP Water is a private enterprise that focuses on local water supply businesses and is the largest private water treatment company in Viet Nam in terms of treatment capacity. It was spun off from the DNP Group, a manufacturer of plastic piping, in 2017. Since then, it has been growing in the water treatment business by … [Read more...] about Samsung Engineering acquires stake in Vietnamese DNP Water

The Renewable Energy in Sustainable Industrial Parks conference was organised by the Haiphong Economic Zone Management Board in collaboration with the Embassy of the UK, the nation's Chamber of Commerce and Industry, and Star Do Group. Head of the Haiphong Economic Zone Management Board Le Trung Kien asserted the green development demand of Haiphong city and its industrial parks and economic zones. Photo: Thanh Son Attendees at the conference were Harry Rawicz-Szczerbo, head of the Trade and Investment Department at the UK Embassy; Le Trung Kien, member of the city Party Committee's Standing Board and head of the Haiphong Economic Zone Authority; Mark Shorrock, chairman of Shire Oak International; Nguyen Thanh Phuong, CEO of Sao Do Group; and representatives of Haiphong's departments and agencies, investors, and businesses. Mark Shorrock, chairman of Shire Oak International, talked about the renewable energy demand of businesses in the RE100 group. Photo: Thu … [Read more...] about Haiphong promotes renewable energy investment in industrial parks