Illustrative image (Source: VNA) Vinh Phuc (VNA) – The northern province of Vinh Phuc has been an ideal destination for investors thanks to its geographical location and preferential policies for investment attraction. Over the years, Vinh Phuc has been focusing on luring foreign direct investment (FDI), and this year the province has been sending delegations overseas to promote investment. In September this year, the locality coordinated with the Vietnamese embassies in the Netherlands and the US to organise seminars introducing investment and cooperation opportunities in Vinh Phuc. As of July this year, Vinh Phuc had drawn 362 FDI projects from 17 countries and territories with a total investment of over 4.8 billion USD, ranking 19th out of the 63 localities nationwide in FDI attraction. Currently, the province is home to two US-funded projects in the processing-manufacturing sector with a combined capital of 15.6 million USD. The province is calling for more investment to … [Read more...] about Vinh Phuc: ideal destination for foreign investors
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Vietnam’s wood firms should apply technologies to increase competitiveness Chairman of the Handicrafts and Wood Industry Association of Ho Chi Minh City (HAWA) Nguyen Quoc Khanh said Vietnam’s wood processing firms should apply technologies and take heed to production models to increase competitiveness. Advancement of CNC precision technology plus new technologies such as artificial intelligence, big data, cloud computing, and robots have helped woodworking technologies to make progresses. Vietnam is approaching to be a major furniture supplier in the world in this time when many US importers are shifting China orders to many countries including the Southeast Asian. However, the wood processing industry has faced challenges when more foreign investment capital has poured in the country. From the early this year, forestry industry showed a strong increase in export value from the beginning of the year. Overseas shipment of forestry product exports in first nine month … [Read more...] about VIETNAM BUSINESS NEWS HEADLINES OCTOBER 21
The national carrier is allowed to operate flights between Viet Nam’s Ho Chi Minh City and Ha Noi and the U.S. cities of Los Angeles, San Francisco (California); New York (New York), Seattle (Washington) and Dallas - Fort Worth (Texas). The transit flights will include stops in Taipei (Taiwan – China), Osaka and Nagoya (Japan). Viet Nam Airlines is also allowed to operate flights to the Canadian cities of Vancouver, Montreal and Toronto via points in the U.S. In addition, Viet Nam Airlines is also licensed to operate routes from destinations outside Viet Nam, via Viet Nam or other transit points to 25 destinations in the U.S. under codeshare arrangements. This license also allows it to operate charter flights between the two countries. Viet Nam Airlines is the first and only airline in Viet Nam to receive such as license from the U.S. Department of Transportation, which is an important step in … [Read more...] about VN Airlines granted license to commercial flights to U.S.
An overview of Tam Anh Industrial Park in Quảng Nam Province. Korean Hyosung Group will launch its firt polyester and nylon yarn plant in the IP in 2020. — Photo courtesy Quảng Nam Portal Viet Nam News QUẢNG NAM — South Korean firm Hyosung Group plans to hold a test-run of its first high-strength industrial tire cord plant for automobile supportive industries at Quảng Nam Province’s Tam Anh Industrial Park in October. The Chu Lai Open Economic Zone Authority said the plant, which received an investment licence in 2018 for the project worth US$210 million, is set to be put into operation in April of 2020. The plant has designed capacity of 39,600 tonnes of polyester and nylon yarn and spandex per year. It will also supply material for automobile supportive industries such as tyre cords, seat belt materials and airbag fabric. The Tam Anh Industrial Park, under management of Chu Lai economic zone, was designed to encourage investment from … [Read more...] about Hyosung Group to build plant in Quảng Nam
Vietnamese Prime Minister Nguyen Xuan Phuc (L) and his Cambodian counterpart Hun Sen at the third Mekong River Commission Summit in Siem Reap, Cambodia, on April 4, 2018 (Photo: VNA) Hanoi (VNA) – The official visit to Vietnam from October 4 – 5 by Cambodian Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen is expected to continue driving the bilateral relations forward in the coming time. It will be the second trip to Vietnam by PM Hun Sen within one year since Cambodia set up its sixth-tenure government in September 2018. With the diplomatic relationship founded on June 24, 1967, the two neighbouring countries boast a long-standing solidarity and friendship which have been nurtured by generations of their leaders and peoples. Fruitful cooperation in multiple spheres Many strides have been recorded in bilateral cooperation in recent years. Delegation exchanges have been maintained at all levels to further enhance mutual trust between the countries’ … [Read more...] about PM Hun Sen’s visit to further drive Vietnam-Cambodia relations forward