The Hanoitimes - Rents of industrial real estate in the city kept going up in Q2 due to the limited availability of land. Average asking rents of industrial real estate in Hanoi still trended upwards in the second quarter (Q2) this year, up 2.1% quarter-on-quarter and 4.1% year-on-year (yoy), Cushman & Wakefield has said in a report. The upward trend was due to high rent quoted by the newly added project as well as rising rents of existing industrial parks (IPs) for the limited availability of land. Average rent in Hanoi remained the highest among in northern Vietnam, the global real estate services firm added. The average rent in the city in the quarter was VND2.7 million dong or US$118.7 per square meter per term and the vacancy rate averaged at 17.8%. C&W also noted that the industry real estate market in the city saw steadily improved performance. No new supply was added in Q2/2018. Total industrial stock stood at over 1,800 hectares, unchanged on quarter and increased by … [Read more...] about Rents of industrial property in Hanoi trend upwards: C&W
They have been prompted to do so by the government’s firm stance on boosting domestic production and the placing of stricter import controls via Decree 116 issued last October. The auto industry, including supporting industries, has accounted for the lion’s share of the foreign direct investment in the manufacturing sector in the first seven months of this year, according to the General Statistics Office (GSO). Newly-registered FDI and expanded capital of existing projects flowing into manufacturing during this period amounted to $8.43 billion, or 46.4 percent of the total, the GSO said. In terms of equity acquisitions, $1.2 billion came into the auto manufacturing, predominantly ($1.1 billion) for the repair, maintenance and servicing of motor vehicles, motorcycles and other vehicles. The auto industry has attracted new entrants to the market, registering their investment plans. Pyeong Hwa Automotive Co., Ltd of South Korea, in June, got a license to build a $16.7 million … [Read more...] about Influx of foreign investment into auto industry
The joint venture between Vinfast and its Thai partner to manufacture Body in White shows the corporation’s commitment to increase the localisation rate of its products. Vinfast and Thailand's leading auto parts manufacturer will boost the localisation rate of Vietnam's very own car brand On June 11, Vinfast signed a Memorandum of Understanding (MoU) to set up a joint venture with Aapico Hitech Plc., one of Thailand’s leading auto parts manufacturers with a market cap of $400 million, to set up a press shop and assembly operations in Vinfast’s Supplier Park in Haiphong. The purpose of the joint venture is to supply BIW (Body in White) parts for the first two models of Vinfast vehicles—a Sedan and a SUV—to be produced by the third quarter of 2019. Covering an area of 9.1 hectares in Vinfast’s Supplier Park, the project has the total investment of $60 million, with 51 per cent holding of Aapico and 49 per cent of Vinfast. "We … [Read more...] about Vinfast establishes $60 million joint venture with Aapico Hitech
VietNamNet Bridge - In the last two years, the mobile phone market has witnessed the appearance of some 10 Vietnamese brands. However, this does not mean that Vietnam now can make mobile phones itself. What Vietnam has is just the brand name, while the products are made in China. Vietnamese brands, China-made products A lot of products are considered as Vietnamese products because they bear Vietnamese brands. However, in fact, they are made in China. Tran Quang Hung, Secretary General of the Vietnam Electronics Association, said there is nothing Vietnamese in these phones except the brand names. … [Read more...] about When will Vietnam be able to produce its own electronics?
Piles of rubbish, rusting furniture and discarded machinery litter one of Thailand's top high-tech parks, a former symbol of economic prowess laid to waste by weeks of flooding. Many of the companies located in the country's industrial heartland say it will be several months at least before their operations return to normal. Investor confidence in the kingdom is likely to take even longer to recover. At least one major manufacturer, Sanyo Semiconductor, is pulling the plug on its operations in hard-hit Ayutthaya province north of Bangkok altogether, while others are considering moving to safer areas. "We've realised, obviously with hindsight, that we're in the wrong place - we're in a flood zone," said Richard Han, chief executive of semiconductor maker Hana Microelectronics whose plant was badly affected. Even if large dykes were built around the industrial parks, production would have to be suspended if the area is flooded again because access to the site would become too … [Read more...] about Slow recovery for flood-hit Thai plants