Germany’s VFT Industry UG eyes $1.6 bln investment in central Vietnam
German firm VFT Industry UG plans to invest EUR1.5 billion ($1.6 billion) in building a stainless steel factory in the central province of Ha Tinh.
Antonia Zahn-Weber, CEO of the Munich-headquartered firm, mentioned this during a Thursday meeting (local time) in Germany with a Ha Tinh delegation led by the province's Chairman Vo Trong Hai.
Zahn-Weber said the 250-hectare plant with an annual output of 1.1 million tons would be built in Vung Ang Economic Zone.
Using modern technology and applying a circular, eco-friendly and automated model, the investment will match Ha Tinh’s target of sustainable development, she added.
VFT Industry UG CEO Antonia Zahn-Weber (center) speaks at a meeting with Ha Tinh province authorities in Germany, September 28, 2023. Photo courtesy of Ha Tinh newspaper.
In welcoming the investment, Hai highlighted Ha Tinh’s advantages including the Vung Ang-Son Duong deep-water seaport, which is capable of accommodating ships of up to 300,000 tons; abundant workforce and streamlined administrative procedures. He urged the firm to cooperate with provincial authorities to survey locations for project implementation.
Ha Tinh attracted two foreign direct investment projects with a registered capital of $4.06 billion in the year to September 20, up 359.6% year-on-year, according to the Ministry of Planning and Investment. So far, the province has attracted a total FDI of $12.02 billion in 82 valid projects, the 10th-highest among all 63 localities in investment value.
Ha Tinh, home to a mega steel factory run by Taiwanese firm Formosa, recorded a 4.37% year-on-year growth in its index of industrial production (IIP) in the first eight months of this year, according to provincial data. Stainless steel output in January-August was over 3.31 million tons, up 6.25%.
- Read More
Central Vietnam hub Danang names 5 property projects eligible to raise investment capital
The Department of Construction in Danang city has announced a list of five property projects that have been approved to mobilize a total of over VND22 trillion ($836.34 million) in investment capital.
Real Estate - Mon, October 27, 2025 | 11:59 am GMT+7
Petrovietnam’s arm PTSC posts 140% profit surge in Q3 on higher deposit income
PetroVietnam Technical Services Corporation (PTSC, HoSE: PVS), a subsidiary of state-run Petrovietnam, reported VND324 billion ($12.3 million) in Q3 net profit, up 140% year-on-year, driven by higher financial income and reduced borrowing costs.
Companies - Mon, October 27, 2025 | 11:20 am GMT+7
Price war squeezes profit margins at Vietnam's auto distributors
Vietnam’s auto market continues to expand in size, but distributors are seeing profits erode as aggressive price competition spreads beyond luxury vehicles to mass-market segments.
Companies - Mon, October 27, 2025 | 8:14 am GMT+7
Vietnam-US issue joint statement on Reciprocal Trade Agreement Framework
Vietnam and the United States on October 26 issued a joint statement on the Framework for a Balanced and Fair Reciprocal Trade Agreement after many months of negotiations.
Economy - Sun, October 26, 2025 | 9:28 pm GMT+7
MBBank achieves sustainable growth in 9 months, leads digital transformation
Hanoi-based MBBank recorded positive growth across scale, efficiency, and asset quality in the first nine months of the year, underscoring its strong internal resilience amid continued volatility in the financial market.
Banking - Sun, October 26, 2025 | 5:38 pm GMT+7
Vingroup to develop 6,300 ha urban complex project in Congo
Vietnam's leading private conglomerate Vingroup (HoSE: VIC) and the government of Kinshasa, the capital of the Democratic Republic of the Congo (DRC), will jointly explore and develop a 6,300-hectare riverfront mega-urban project.
Real Estate - Sun, October 26, 2025 | 12:57 pm GMT+7
Vietnam’s Ministries of Foreign Affairs, Natural Resources & Environment, and Home Affairs have new heads
Le Hoai Trung was appointed on Saturday as Minister of Foreign Affairs, Tran Duc Thang as Minister of Natural Resources and Environment, and Do Thanh Binh as Minister of Home Affairs.
Politics - Sun, October 26, 2025 | 11:22 am GMT+7
Intel eyes shifting more production to Vietnam
U.S. chipmaker Intel plans to shift its assembly, packaging, and testing operations from its Costa Rica facility to potential markets such as Vietnam, said Kenneth Tse, general director of Intel Products Vietnam.
Industries - Sun, October 26, 2025 | 9:05 am GMT+7
Vietnam's securities regulator seeks to expand institutional market participation
The State Securities Commission of Vietnam (SSC) is preparing a comprehensive package of measures to allure more institutional investors to the stock market, which currently sees up to 85-90% of total transaction value come from retail investors.
Finance - Sun, October 26, 2025 | 8:00 am GMT+7
VAFIE, Nghe An province tax authority help businesses update new tax policies
The Vietnam's Association of Foreign Invested Enterprises (VAFIE) and the Nghe An province Tax Department on Friday co-hosted a tax policy workshop titled “New tax policies impacting business operations and accounting standards under IFRS.”
Companies - Sat, October 25, 2025 | 7:28 pm GMT+7
Vietnam parliament okays appointing 2 new Deputy Prime Ministers
Vietnam's legislature has approved Prime Minister Pham Minh Chinh's proposal to appoint Ho Quoc Dung, former Party chief of Gia Lai province, as Deputy Prime Minister, while Pham Thi Thanh Tra, a Party Central Committee member, became the country's first female Deputy Prime Minister.
Politics - Sat, October 25, 2025 | 6:32 pm GMT+7
Foxconn unit ShunYun injects extra $15 mln into northern Vietnam subsidiary
ShunYun Technology Co., a subsidiary of Taiwanese electronics giant Foxconn, has announced an additional $15 million investment into its Vietnamese arm in the northern province of Bac Ninh, according to a filing with the Taiwan Stock Exchange.
Industries - Sat, October 25, 2025 | 4:57 pm GMT+7
DNP Water, Samsung E&A launch $69 mln inter-regional water project in Vietnam’s Mekong Delta
A subsidiary of Vietnam’s water supplier DNP Water and South Korea’s Samsung E&A have broken ground on a VND1.82 trillion ($69.2 million) inter-regional raw water infrastructure project in the Mekong Delta, marking a major step toward improving the region’s water security.
Infrastructure - Sat, October 25, 2025 | 4:50 pm GMT+7
Vietnam’s bond market heats up as major corporates return
Vietnam’s corporate bond market is regaining momentum as large conglomerates join banks and brokerages in successful issuances.
Finance - Sat, October 25, 2025 | 9:33 am GMT+7
Decentralization and the potential for multi-center urban development in HCMC’s satellite areas
If managed well, urban decentralization and multi-center development can ease housing pressures in central HCMC and usher in a more balanced growth phase for the southern region's residential market, write Avison Young Vietnam analysts.
Real Estate - Sat, October 25, 2025 | 8:00 am GMT+7
Chinese firm proposes its 3rd waste-to-power plant in Vietnam
China’s EverBright Environment has proposed investing about VND1.6 trillion ($60.82 million) in a waste-to-energy plant in the central province of Quang Tri.
Energy - Fri, October 24, 2025 | 8:45 pm GMT+7
