Localization of industry

What have been some successful stories involving your members thus far in Vietnam? Tharabodee Serng-Adichaiwit, vice chairman of the Thai Chamber of Commerce in Vietnam Thailand has become the ninth-biggest foreign direct investment of Vietnam with nearly 690 projects and $13 billion so far. While Thai investment properly kicked off in the early 1990s here, Bangkok Bank started investment in Vietnam way back in 1961 with its first branch in the former Saigon. We believe that with the growing potential of Vietnam itself and our continuous promotion to Thai investors, one day Thai investment could enter the top five. This will also to help the two countries to achieve the bilateral trade goal of $25 billion by 2025, and ultimately bring our two countries closer in sub-regional, regional, and multinational cooperation. Most big Thai conglomerates already have a presence in Vietnam, such as C.P., SCG, Bangkok Bank, IVL, Red Bull, and more. Thai investment is also … [Read more...] about A land of promise for Thai investors

In the healthcare sector, it has become clear that we need to act now in order to provide opportunities to live healthier for longer. Digital health and ICT solutions have come to define a new standard of how people of all ages manage their health and prevent diseases. Digital platforms are combined with hospital expertise across a range of services Dr. Michael Devoy, chief medical officer at global healthcare and nutrition enterprise Bayer AG, says that digitalisation is a means to enhancing how healthcare innovations are brought to patients. “It encompasses an improvement in our processes, rendering them faster and more efficient than before, as well as facilitating a more profound understanding of our patients and delivering better outcomes for them,” Devoy explained. “I am proud of how we already make use of digitalisation at Bayer, as we continuously strive to provide new treatment options for patients across generations.” In Vietnam in recent years, the … [Read more...] about Bayer leveraging digital models to enhance healthcare

Covering an area of 30 hectares in Bac Tien Phong Industrial Park of the northern province of Quang Ninh, the Stavian Quang Yen Petrochemical Plant project has an estimated total investment of up to $1.5 billion. The plant has a production capacity of 600,000 tonnes of polypropylene per year with state-of-the-art copyrighted technologies from Honeywell UOP Company (US) and Basell Poliolefine Italia Company (Italy). This includes propylene production technology from propane using the hydrogen reduction method and polypropylene production technology using Spheripol technology. The plant will be equipped with a high-tech, automated, and eco-friendly production line imported from EU and G7 countries. In addition, they will apply more advanced solutions to optimise water use in production, ensuring energy savings and reducing greenhouse gas emissions. In May 2023, the Front End Engineering Design contractor was unveiled for the Stavian Quang Yen Petrochemical Plant project. As … [Read more...] about Stavian Quang Yen Petrochemical Plant receives technology transfer licences

Chairman Tran Dinh Quyen with Acuity Funding president Ranjit Thambyrajah at September 25’s signing event On September 25, Australian Acuity Funding committed to invest $6.4 billion for Tin Thanh Group (TTG) to implement green projects. Accordingly, circa $1 billion will be used to develop four biomass power plants and thousands of hectares of sorghum cultivation in central and south of Vietnam. Around $1.7 billion will be set aside to build a tyre retread, tyre recycling and truck service plant in South Carolina over one million trucks in the United States with the goal of reducing emissions, saving costs, and transitioning to green energy. TTG has been granted land and support from the state of South Carolina with huge incentives over $500 million. The remaining $3.7 billion in funding will go towards building a green hydrogen manufacturing facility in the same state. According to chairman and CEO of TTG Tran Dinh Quyen, the company’s strategy is to become a … [Read more...] about TTG steps up green energy and emission cut ambitions

Hung Yen looks to become "promising land" for foreign investors (Photo: VNA) Hung Yen (VNA) – The northern province of Hung Yen has focused on creating a safe, effective and competitive investment environment to turn the locality into a “promising land” for enterprises, particularly foreign investors. Secretary of the provincial Party Committee Nguyen Huu Nghia affirmed that the province has set a goal to become an industrial hub and an attractive, safe, competent investment destination in its development strategy from now to 2023 with a vision to 2045. Hung Yen boasts a rich network of tangible and intangible cultural heritages and was once a major economic centre. Lastly, the province has an abundant, highly skilled, and hard-working workforce. Vietnam factory project in Thang Long Industrial Park II has the largest investment capital with 132 million USD. The factory specialises in producing LCD polarised films used for smartphones and cars, with a capacity of 176 … [Read more...] about Hung Yen looks to become “promising land” for foreign investors

Cao Tường Huy (right), the Acting Chairman of the People’s Committee of Quảng Ninh, talks to Richard Sell (left), General Director of HAECO Group. — Photo baoquangninh.vn HAECO Electrical Mechanical Group (HAECO), one of the world’s leading aircraft engineering and maintenance service providers, aims to invest in the aviation industry in Quảng Ninh Province. In the meeting with the province's leader on Saturday, Richard Sell, General Director of HAECO Group, said he was impressed with the remarkable development of Quảng Ninh and revealed intention to conduct research and invest in the province. According to Cao Tường Huy, the Acting Chairman of the provincial People’s Committee, Quảng Ninh is home to the Vân Đồn airport, but the province's aviation logistics infrastructure is still underdeveloped despite being a prioritised sector. Therefore, Huy suggested a collaboration between HAECO and Sun Group, the investor in Vân Đồn Airport, to soon deploy the logistics project. The … [Read more...] about HAECO eyes aviation investment in Quảng Ninh Province

With the presence of leading renewable energy developers in Vietnam, Denmark has contributed international resources to the country’s net-zero journey. Denmark in Your Eyes – an annual painting competition launched in Vietnam in 2016 – is an activity demonstrating Vietnam-Denmark cooperation in green growth in recent years. Ambassador of Denmark to Vietnam Nicolai Prytz speaks at the launch of Denmark in Your Eyes competition 2023. Photo: Danish Embassy in Hanoi The competition has “added a lot of value to strengthening our two countries’ long-term cooperation on promoting green and sustainable development,” said Ambassador of Denmark to Vietnam Nicolai Prytz. With more than 18,000 paintings submitted in the last competition, it shows the great popularity of the event among schoolchildren all over Vietnam. For that reason, “it is an amazing playground for Vietnamese children, not only to express wishes about their future but more importantly to come up … [Read more...] about Green Future promotes Vietnam-Denmark cooperation for sustainable growth