Hunan Hualian China Industry aims to invest $200 mln in northern Vietnam
Hunan Hualian China Industry Co. Ltd., a major ceramic manufacturer in China’s Hunan province, aims to invest $200-230 million in Vietnam’s northern province of Thai Binh.
A delegation of the Chinese firm, led by its chairman Xu Junqi, made the statement at a Monday meeting with Thai Binh authorities. The investment, called “Ceramic valley,” can employ 5,000 locals, the firm added.
The Chinese company also highlighted Thai Binh’s advantages: abundant materials, a strong workforce, and quite developed infrastructure.
Investing in Vietnam is part of Hunan Hualian's strategy to bring its products to Southeast Asia and the international market, the executive noted.
Hunan Hualian Ceramic Industry chairman Xu Junqi (left, sixth) and Thai Binh Vice Chairman Nguyen Quang Hung (right, fourth) at a meeting in Thai Binh province, northern Vietnam, August 26, 2024. Photo courtesy of Thai Binh news portal.
Welcoming the investment, Nguyen Quang Hung, Vice Chairman of Thai Binh, asked relevant agencies to collaborate with Hunan Hualian to facilitate the project.
He also emphasized the province’s strengths in the construction material sector, including supporting policies related to land, a strong workforce, availability of thermal power plants, and the supply of 200 million cubic meters of gas per year.
In 2023, Thai Binh’s construction material sector reached a production value of VND5,421 billion ($218.4 million) with 25,652 laborers, Hung added.
Registered foreign direct investment (FDI) in Vietnam hit $18 billion in the year to July 20, up 10.9% year-on-year, according to the Ministry of Planning and Investment. Thai Binh ranked 13th among all localities with $430.2 million, doubling year-on-year.
- Related News
- Read More
Trading value on Vietnam’s major bourse plunges
Trading value on the Ho Chi Minh Stock Exchange (HoSE) on Thursday hit VND10.47 trillion ($426 million), down 18% from the previous session and the lowest in September.
Finance - Thu, September 12, 2024 | 6:17 pm GMT+7
HCMC okays design for commercial center within $900 mln Lotte project
Ho Chi Minh City’s Department of Planning and Architecture has approved the design for a commercial center within South Korean conglomerate Lotte’s $900-million Thu Thiem Eco Smart City project.
Real Estate - Thu, September 12, 2024 | 6:09 pm GMT+7
Vietnam eases restrictions on offshore wind power project sales under latest draft law
Investors can sell their stakes in offshore wind power projects in Vietnam with lesser restrictions, under the latest draft of the amended Law on Electricity.
Energy - Thu, September 12, 2024 | 5:52 pm GMT+7
Vietnam consumer finance firms post earnings recovery in H1 following 2023 slowdown
Corporate earnings of consumer finance businesses in Vietnam in the first half of the year showed a significant recovery, following a slowdown last year.
Finance - Thu, September 12, 2024 | 5:26 pm GMT+7
Vietnam stock market indicates significant risks, volatility: SGI Capital
Vietnam’s stock market currently poses significant risks and high volatility with relatively few clear-cut investment opportunities, says fund management company SGI Capital.
Finance - Thu, September 12, 2024 | 3:49 pm GMT+7
Hong Kong’s Pacific Textiles to close Vietnam plant for a month after typhoon Yagi damage
After super typhoon Yagi hit Vietnam last Saturday, Pacific Textiles has suspended production at its factory in the northern province of Hai Duong for at least one month.
Companies - Thu, September 12, 2024 | 3:16 pm GMT+7
Vietnam PM urges Mitsui to accelerate gas project, consider offshore wind energy generation
Prime Minister Pham Minh Chinh has asked Japanese conglomerate Mitsui & Co. to expedite implementation of the long-delayed Block B gas power project offshore Vietnam as the country strives to ensure energy security.
Energy - Thu, September 12, 2024 | 11:32 am GMT+7
Samsung factory in northern Vietnam flooded in super typhoon Yagi aftermath
A factory run by Samsung Industrial Vietnam Co. Ltd. in the northern Vietnam province of Bac Ninh to manufacture and assemble automotive parts has been flooded as super typhoon Yagi impacts linger.
Companies - Thu, September 12, 2024 | 10:58 am GMT+7
Thailand plans to apply global minimum tax
Thailand’s Revenue Department is planning to impose an additional tax of 15% on multinational corporations that are operating in the country.
Southeast Asia - Thu, September 12, 2024 | 9:16 am GMT+7
Price of banana in Thailand rising
The price of kluay hom thong banana or "golden bananas" in Thailand has doubled from about THB 15 ($0.44) per kilogramme to THB 30, with farmers rejoicing at growing demand.
Southeast Asia - Thu, September 12, 2024 | 9:12 am GMT+7
Thailand-Laos bus service to resume
Thailand's state-run Transport Co. plans to resume bus services from the northeastern provinces of Udon Thani and Nong Khai to the Lao town of Vang Vieng in November.
Southeast Asia - Thu, September 12, 2024 | 9:10 am GMT+7
Businesses affected amidst super typhoon Yagi havoc in northern Vietnam
Many businesses have been affected in the widespread damage including loss of lives inflicted by super typhoon Yagi in northern Vietnam.
Economy - Thu, September 12, 2024 | 8:17 am GMT+7
Former Ha Giang province Party chief subject to disciplinary action for Thuan An Group-related violations
The Central Inspection Committee has proposed disciplining Dang Quoc Khanh, former Party chief of Ha Giang province, for violations related to a Tuyen Quang-Ha Giang Expressway bid package implemented by Thuan An Group.
Politics - Wed, September 11, 2024 | 10:44 pm GMT+7
International support pours in for relief in typhoon Yagi’s aftermath
International relief for people affected by flash floods and landslides following super typhoon Yagi is being delivered to Vietnam.
Southeast Asia - Wed, September 11, 2024 | 9:35 pm GMT+7
HCMC makes plans to realize target of becoming world-class logistics center
HCMC will implement “key tasks and solutions” to increase investment in logistics infrastructure development, enlarging loading and unloading capacity, and building seaport warehouses, the municipal administration says.
Economy - Wed, September 11, 2024 | 9:28 pm GMT+7
Bamboo Capital founder spreads message of dynamic, innovative Vietnam at World Knowledge Forum
Nguyen Ho Nam, founder of Vietnam’s private conglomerate Bamboo Capital Group (BCG), has attended and delivered a 40-minute keynote speech titled “Vietnam – A Trusted Friend in a Turbulent World,” at the 25th World Knowledge Forum (WKF) 2024 in Incheon, South Korea.
Bamboo Capital - Wed, September 11, 2024 | 6:47 pm GMT+7
