China photocatalytic firm Perfect Light eyes $52 mln project in northern Vietnam
Hai Duong province has given in-principle approval to Chinese photocatalytic firm Perfect Light’s VND1,250 billion ($51.5 million) investment proposal.
Provincial authorities gave the nod to a report of the local industrial park authority submitted Tuesday.
According to the report, the Chinese firm plans to build a wafer technology factory, covering nine hectares in Cong Hoa Industrial Park, for manufacturing components for cars and vehicles with engines. The plant is set to employ 700 people once operational in the first quarter of 2025.
Hai Duong’s index of industrial production grew 10% year-on-year in November and 7.9% in January-November, according to provincial data. The growth was driven by a 21.1% increase in the manufacturing of vehicles.
In the first 11 months of this year, Hai Duong attracted $1.02 billion of foreign direct investment, tripling year-on-year, according to the Ministry of Planning and Investment. The province’s figure was the 11th-highest in the country.
In November, Hai Duong approved two major projects of Chinese investors, worth a combined $390 million. Deli, a major Chinese stationery business, received approval to invest $270 million to expand production on 21.2 hectares in Dai An Industrial Park.
The project’s annual output will include 104 million office supplies items made with paper and plastics; 22.5 million plastic home appliances; 33 million glue items; and 2.4 million personal computers, photocopiers, shredders, bar code scanners, electrical sockets, office accessories and educational items.
Boviet Solar Technology Co., Ltd., backed by China’s new material-energy firm Boway, received approval for a $120 million, 20-hectare project in Cong Hoa Industrial Park. Employing around 1,000 people, the project will manufacture solar cells and solar energy conversion modules totaling 3 GW a year, all for export.
- Read More
New trading system KRX 'not criterion for Vietnam stock market status upgrade'
The new trading system KRX is not a condition required by rating agencies FTSE Russell and MSCI to approve a status upgrade for the Vietnamese stock market, said director of a securities firm.
Finance - Sun, May 5, 2024 | 10:28 pm GMT+7
Poor business results cast shadow over Vietnam real estate developers
A slew of Vietnamese property developers have reported poor business performance in the first months of this year despite signs of recovery in the real estate market.
Real Estate - Sun, May 5, 2024 | 2:00 pm GMT+7
Thailand’s rice exports increase in both numbers, value
Thailand exported 2.46 tonnes of rice in the first quarter of this year, up 19.4% from the same period last year, according to Charoen Laothamatas, president of the Thai Rice Exporters Association.
Southeast Asia - Sun, May 5, 2024 | 1:51 pm GMT+7
Indonesia to grow 2 million hectares of sugarcane for bio-ethanol fuel development
The Indonesian government is implementing preferential policies to develop bio-ethanol fuel in the future, reduce dependence on fossil fuels and protect the environment.
Southeast Asia - Sun, May 5, 2024 | 1:50 pm GMT+7
Rail route connects China, Laos, Thailand, Malaysia
The first China - Laos - Thailand - Malaysia express freight train recently departed from Chengdu, the capital of China’s southwestern Sichuan province, marking a significant milestone in regional trade connectivity.
Southeast Asia - Sun, May 5, 2024 | 1:49 pm GMT+7
Indonesia to launch pilot project on hydrogen-fueled vehicles
Indonesia’s directorate general of New Renewable Energy and Energy Conservation has announced a plan of hydrogen use trials for the operation of buses, trucks, and other heavy-duty vehicles.
Southeast Asia - Sun, May 5, 2024 | 1:48 pm GMT+7
Denmark jewelry maker Pandora to start building Vietnam factory this month
Denmark’s Pandora, the world’s largest jewelry brand by revenue, will begin constructing a $150-million factory in the southern province of Binh Duong on May 16.
Industries - Sun, May 5, 2024 | 10:17 am GMT+7
Vietnamese ministry warns public about online stock market investment scams
Posing as securities experts, several scammers are enticing people to join closed groups on social networks, access web links or install apps for stock investment, the Ministry of Public Security (MPS) warned.
Finance - Sun, May 5, 2024 | 9:27 am GMT+7
Bac Giang province Party chief arrested for abusing power
Duong Van Thai, Secretary of Bac Giang province's Party Committee, has been detained for abusing his positions and power while on duty.
Politics - Sun, May 5, 2024 | 8:07 am GMT+7
Danish brewer maintains Vietnam sales volume despite beer-market dip
The beer market in Vietnam remained difficult with an estimated “mid-single-digit” percentage decline in the first quarter of this year, but Danish brewer Carlsberg managed to maintain flat sales volume.
Companies - Sun, May 5, 2024 | 8:04 am GMT+7
Public investment disbursement must reach 95%: PM
Prime Minister Pham Minh Chinh has asked ministries, agencies and localities to ensure that disbursement of public investment capital reaches at least 95% this year.
Economy - Sat, May 4, 2024 | 10:02 pm GMT+7
Vietnam transport minister orders probe into domestic airfare surge
Transport Minister Nguyen Van Thang has asked the Civil Aviation Authority of Vietnam (CAAV) to investigate recent surges in domestic airfare as concerns mount over their impact on travel demand.
Travel - Sat, May 4, 2024 | 9:47 pm GMT+7
Tech giants keen on semiconductor investments in Vietnam: minister
Many global tech majors have shown keen investment interest in Vietnam’s electronics and semiconductor industries, Minister of Planning and Investment Nguyen Chi Dung said Saturday.
Economy - Sat, May 4, 2024 | 8:33 pm GMT+7
Former Government Office chairman Mai Tien Dung detained
Mai Tien Dung, former head of the Government Office, has been arrested for violations related to an eco-resort and urban project in Lam Dong province.
Politics - Sat, May 4, 2024 | 5:57 pm GMT+7
Agribank brings digital banking experience to remote areas
Agribank is a pioneer bank in investing and providing card and ATM services in Vietnam's agricultural and rural areas, meeting the needs of people in even border areas, islands, and remote areas.
Banking - Sat, May 4, 2024 | 3:50 pm GMT+7
Six miles and beyond: Vietnam draft law sets offshore boundary
Wind power plants with all turbines located six nautical miles beyond the nation’s sea area will be deemed offshore, per draft amendments to the Law on Electricity.
Energy - Sat, May 4, 2024 | 3:35 pm GMT+7