Netherlands’s BE Semiconductor Industries to invest $5 mln in HCMC

By Tri Duc
Fri, November 3, 2023 | 10:10 am GMT+7

BE Semiconductor Industries (Besi) of the Netherlands has been granted an investment certificate to invest $4.9 million in Ho Chi Minh City during a visit by Dutch Prime Minister Mark Rutte.

The 50-year investment is located in Saigon Hi-tech Park (SHTP), aiming to rate Vietnam’s investment environment before making further investment, said Nguyen Anh Thi, head of the SHTP. The project is set to make a major contribution to the socioeconomic growth of Vietnam and HCMC, he added.

Initially, the firm will lease 2,000 square meters of ready-built factory in the SHTP. From the fourth quarter of 2023 to Q4/2024, it will install machinery and equipment and recruit laborers, towards operation in Q1/2025.

The project is also expected to build a strong workforce for Vietnam’s semiconductor sector to serve foreign direct investment in the industry.

Besi receives an investment certificate in Hanoi on November 2, 2023. Photo courtesy of Ho Chi Minh City's news portal.

Besi receives an investment certificate in Hanoi on November 2, 2023. Photo courtesy of Ho Chi Minh City's news portal.

The certificate granting ceremony took place within the Vietnam-Netherlands high-tech business forum in Hanoi on Thursday. The event, hosted by Vietnam's Ministry of Planning and Investment and the Dutch Embassy in Vietnam, featured Vietnamese PM Pham Minh Chinh, his Dutch counterpart Mark Rutte, and representatives of nearly 30 top high-tech firms of the Netherlands.

Also at the event, which took place at Samsung’s research and development (R&D) center, Vietnam’s National Innovation Center (NIC) and Signify Vietnam Limited, invested by the Netherlands’ Signify (formerly known as Philips Lighting), signed a memorandum of understanding. Accordingly, the two will cooperate in raising lighting awareness in line with the net-zero emission target, and digitalization in lighting across high-tech agriculture, smart factories, and smart cities.

Signify Vietnam and the National Innovation Center sign an agreement in Hanoi on November 2, 2023. Photo courtesy of National Innovation Center.

Signify Vietnam and the National Innovation Center sign an agreement in Hanoi on November 2, 2023. Photo courtesy of National Innovation Center.

Backing the moves, PM Pham Minh Chinh said Vietnam would facilitate investments by maintaining the country’s political stability; defense-security and social order; diplomatic policy of peace, independence, self-reliance, and friendship, along with defense policy; macroeconomic stability with inflation control and growth enhancement; and development of infrastructure, workforce training, and administrative reform.

He also proposed the Netherlands’ top high-tech firms learn from Samsung to cooperate with Vietnam in technology transfer, investment expansion, policy recommendations, and workforce training.

Comments (0)
  • Read More
Singapore-domiciled TAEL Two Partners struggles to divest from Vietnam taxi operator Vinasun at loss

Singapore-domiciled TAEL Two Partners struggles to divest from Vietnam taxi operator Vinasun at loss

Singapore-headquartered fund TAEL Two Partners has planned to divest entirely from Vietnamese taxi operator Vinasun at a heavy loss after more than a decade of investment.

Finance - Mon, November 18, 2024 | 10:19 am GMT+7

Vietnam, Brazil elevate bilateral ties to strategic partnership

Vietnam, Brazil elevate bilateral ties to strategic partnership

Vietnam and Brazil issued a joint statement on elevating their bilateral relations to a Strategic Partnership in Rio de Janeiro on Sunday (local time) on the occasion of Prime Minister Pham Minh Chinh’s ongoing trip to the Latin American nation to attend the G20 Summit and join bilateral activities.

Politics - Mon, November 18, 2024 | 8:11 am GMT+7

The Investor to host seminar on removing legal bottlenecks for infrastructure, property investment

The Investor to host seminar on removing legal bottlenecks for infrastructure, property investment

A seminar themed “Removing legal bottlenecks for infrastructure and property investment” will be organized by The Investor in Hanoi on Tuesday.

Companies - Mon, November 18, 2024 | 7:52 am GMT+7

State-owned housing developer HUD has new chairman

State-owned housing developer HUD has new chairman

Dau Minh Thanh, chief of the Ministry of Construction (MoC) Office, has been appointed chairman of the ministry’s Housing and Urban Development Corporation (HUD).

Companies - Sun, November 17, 2024 | 9:34 pm GMT+7

Vietnam private lender LPBank reports $394 mln profit in 10 months

Vietnam private lender LPBank reports $394 mln profit in 10 months

Hanoi-based Loc Phat Vietnam Joint Stock Commercial Bank, or LPBank, logged an after-tax profit of VND10 trillion ($394 million) in the first 10 months of this year, said its leadership at the EGM on Saturday.

Banking - Sun, November 17, 2024 | 3:30 pm GMT+7

Vietnam stock market unlikely to experience further steep declines in next sessions: experts

Vietnam stock market unlikely to experience further steep declines in next sessions: experts

The probability of continued sharp falls in the Vietnamese stock market over the next sessions is relatively low, barring unexpected geopolitical turbulences that could cause significant volatility, according experts.

Finance - Sun, November 17, 2024 | 1:30 pm GMT+7

Taiwan’s Cooler Master gets nod for $125 mln additional investment in northern Vietnam

Taiwan’s Cooler Master gets nod for $125 mln additional investment in northern Vietnam

Taiwan-headquartered Cooler Master, a global computer hardware giant, especially in cooling devices, will invest an additional $125 million in the northern province of Bac Ninh, according to a project report.

Industries - Sun, November 17, 2024 | 10:00 am GMT+7

Vingroup’s hospitality arm Vinpearl becomes public company as part of listing plan

Vingroup’s hospitality arm Vinpearl becomes public company as part of listing plan

Vinpearl JSC, a hospitality subsidiary of conglomerate Vingroup, has completed its registration as a public company, the State Securities Commission of Vietnam (SSC) said on Friday.

Companies - Sun, November 17, 2024 | 9:00 am GMT+7

Vietnam pledges to make more contributions to APEC cooperation

Vietnam pledges to make more contributions to APEC cooperation

APEC leaders adopted a joint statement and endorsed two signature initiatives proposed by host country Peru: the Lima Roadmap to Promote the Transition to Formal and Global Economy and the Ichma Statement on a New Look to Advance the Free Trade Area of the Asia-Pacific.

Politics - Sun, November 17, 2024 | 8:05 am GMT+7

Construction of $2.3 bln central Vietnam LNG power plant to restart in 2026

Construction of $2.3 bln central Vietnam LNG power plant to restart in 2026

Construction of the 1,500-MW Hai Lang Power Center project in Quang Tri province will restart on January 1, 2026, the project investor has informed local authorities.

Energy - Sun, November 17, 2024 | 8:00 am GMT+7

PM arrives in Brazil, beginning trip to attend G20 Summit

PM arrives in Brazil, beginning trip to attend G20 Summit

Prime Minister Pham Minh Chinh, his spouse and a high-ranking delegation of Vietnam arrived in Rio de Janeiro, Brazil on November 16 afternoon (local time), beginning their three-day visit to attend the G20 Summit and have bilateral meetings.

Southeast Asia - Sun, November 17, 2024 | 7:30 am GMT+7

Vietnam-China partnership to enable export of Kim Long brand cars

Vietnam-China partnership to enable export of Kim Long brand cars

Vietnam’s Kim Long Motor and Futa Group have struck a strategic cooperation agreement with China’s Dongfem Dana that will enable the production and export of cars under the Kim Long brand, executives said Friday.

Companies - Sat, November 16, 2024 | 7:13 pm GMT+7

Northern Vietnam province attracts $124 mln investment from Taiwan firm

Northern Vietnam province attracts $124 mln investment from Taiwan firm

Taiwan-based Nien Made Enterprise Co., Ltd. will invest $124.1 million to make furniture accessories at Phu Ha Industrial Park in the northern province of Phu Tho.

Industries - Sat, November 16, 2024 | 7:01 pm GMT+7

Vietnam’s first LNG-fired power plants to enter commercial operation in Jun-Sept 2025

Vietnam’s first LNG-fired power plants to enter commercial operation in Jun-Sept 2025

Nhon Trach 3 and Nhon Trach 4, Vietnam’s first LNG-to-power plants, will begin commercial operations in June and September 2025, respectively, says project investor PV Power.

Energy - Sat, November 16, 2024 | 3:20 pm GMT+7

Vinhomes spends $276 mln on buying back 162 mln shares, more than half to go

Vinhomes spends $276 mln on buying back 162 mln shares, more than half to go

Vinhomes, the largest housing developer in Vietnam, has spent around VND7 trillion ($275.7 million) on implementing its record buyback plan since kick-starting it on October 23.

Finance - Sat, November 16, 2024 | 1:21 pm GMT+7

Indonesia secures funding for green power infrastructure at COP29

Indonesia secures funding for green power infrastructure at COP29

Indonesia has attracted EUR1.2 billion ($1.26 billion) worth of green funding for the electricity sector from Germany’s Kreditanstalt für Wiederaufbau (KfW) at the 29th UN Climate Change Conference of the Parties (COP29) in Baku, Azerbaijan.

Southeast Asia - Sat, November 16, 2024 | 10:10 am GMT+7