Manufacturing

Việt Nam’s strong economic growth would continue this year, driven by increasing FDI and robust domestic demand. — VNS Photo Lê Vy HÀ NỘI — Since its emergence early last year, the US-China trade conflict has not shown signs of easing. Companies are increasingly concerned about the impact of trade tariffs and other trade protection measures, with many actively planning to divert their production from China.These issues were discussed at a conference titled “From manufacturing in Việt Nam to Made-in-Việt Nam products” on Thursday. Meanwhile, Việt Nam has emerged as a prime manufacturing location in Asia. Việt Nam’s economy expanded 7.1 per cent last year, the fastest growth in the past decade. All major sectors recorded notable growth, buoyed by manufacturing, construction, wholesale and retail, and tourism. Việt Nam’s strong economic growth would continue this year, driven by … [Read more...] about Việt Nam, Asia’s new manufacturing hub

Opportunities for Vietnam manufacturing industry Assessing the opportunities and challenges for the Vietnamese manufacturing industry, Suan Teck Kin, head of research, executive director of global economic and markets research at United Overseas Bank (UOB) said that the US-China trade conflict remains a a powerful impact. Tensions even widen to other sectors such as technology, investment, and even capital flows. Companies are worried about the effects of tariffs and other forms of trade protection. Moving the supply chain will take a long time, and many companies are actively planning to reduce production from China to minimise negative tax impacts, but are also considering diversifying business and markets. Giants like Apple, Intel, Sharp, LG, or Bosch, among others are also making initial changes in production flows. Specifically, Apple's suppliers in Vietnam have increased from 16 (2015) to 22 (2018) while in September 2019, Samsung officially closed its last factory in China, … [Read more...] about Opportunities for Vietnamese manufacturing industry

Photo: VGP/Le Son Deputy PM Truong Hoa Binh attended a roundtable with the Singapore Manufacturing Federation (SMF) on the sidelines of his working visit to Singapore.  Deputy PM Binh said that after 46 years of diplomatic ties and six years of strategic partnership, Singapore has become an important partner of Viet Nam in terms of investment, trade, tourism, education, healthcare, and transportation in ASEAN. Singaporean businesses early set their footholds in Viet Nam in various fields.  So far, Singapore poured over US$ 50 billion of FDI into over 2,300 projects in 48 out of 63 provinces and cities in Viet Nam, making it third largest investor among 132 countries and territories investing in Viet Nam. In the first half of 2019, Singapore invested US$ 3.2 billion in Viet Nam.  Especially, seven Viet Nam-Singapore Industrial Parks (VSIP) were effectively operatiing. They represented good symbols of economic cooperation between the … [Read more...] about DPM works with Singapore Manufacturing Federation

Viet Nam’s strong economic growth would continue this year, driven by increasing FDI and robust domestic demand. — VNS Photo Le Vy Since its emergence early last year, the US-China trade conflict has not shown signs of easing. Companies are increasingly concerned about the impact of trade tariffs and other trade protection measures, with many actively planning to divert their production from China.These issues were discussed at a conference titled “From manufacturing in Viet Nam to Made-in-Viet Nam products” on Thursday. Meanwhile, Viet Nam has emerged as a prime manufacturing location in Asia. Viet Nam’s economy expanded 7.1 per cent last year, the fastest growth in the past decade. All major sectors recorded notable growth, buoyed by manufacturing, construction, wholesale and retail, and tourism. Viet Nam’s strong economic growth would continue this year, driven by increasing FDI and robust domestic demand, said Suan Teck Kin, executive director … [Read more...] about Viet Nam, Asia’s new manufacturing hub

Vietnam’s strong economic growth would continue this year, driven by increasing FDI and robust domestic demand.-VNS Photo Le Vy Meanwhile, Vietnam has emerged as a prime manufacturing location in Asia. Vietnam’s economy expanded 7.1 per cent last year, the fastest growth in the past decade. All major sectors recorded notable growth, buoyed by manufacturing, construction, wholesale and retail, and tourism. Vietnam’s strong economic growth would continue this year, driven by increasing FDI and robust domestic demand, said Suan Teck Kin, executive director of global economic and markets research of the United Overseas Bank (UOB), at the conference. In the first half of this year, the economy grew 6.8 per cent year-on-year, driven by agriculture, forestry and fishery, industry and construction, and services. Exports and industrial production remained significant growth drivers. Due to solid growth in the export of technological products and various free trade … [Read more...] about Vietnam, Asia’s new manufacturing hub