Taiwan firms see Vietnam as crucial link in supply chain shift to Southeast Asia
Taiwanese businesses have recognized Vietnam as a crucial link in their supply chain shift to Southeast Asia, said CY Huang, founder of the Southeast-Asia Impact Alliance (SIA).
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam’s export turnover expected to grow 6% in 2024
Vietnam’s industry and trade sector has targeted an increase in export revenue of about 6% this year, with an expected trade surplus of $15 billion.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Toyota production in Vietnam falls 35% to 11,500 in Apr-Sep
Toyota production in Vietnam fell 34.7% year-on-year to 11,505 units in April-September 2023, or the first half of fiscal year 2024, according to a report by the Japanese automobile giant.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam manufacturing activity contracts in Sep: S&P Global
Vietnam Manufacturing Purchasing Managers' Index (PMI), which measures factory activity, posted 49.7 in September, back below the 50.0 no-change mark following an improvement to 50.5 in August on weaker production, S&P Global has said.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnamese enterprises need assistance to survive: economist
Vietnamese businesses are facing unprecedented difficulties, and many are being forced to tighten spending to survive. The government needs to reduce costs for businesses such as waiving and reducing interest rates, fees, and taxes to help them stay afloat, said Nguyen Dinh Cung, former director of the Central Institute for Economic Management (CIEM).
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
ManpowerGroup highlights top industries attracting employers in Vietnam
Manufacturing, processing, and high-tech industries are among the fields that are attracting employers to Vietnam, says Simon Matthews, regional manager of workforce solutions company ManpowerGroup Vietnam, Thailand, and the Middle East.
Executive Talk - Mon, Dec 22, 2021 | 11:30 am GMT+7
BYD acquires giant Jabil’s mobility business for $2.2 bln
Electric vehicle maker BYD’s electronics arm, which operates a Vietnam plant making products and components for Apple, has agreed to buy U.S.-based manufacturing firm Jabil’s mobility business in China for around $2.2 billion.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Plunge in Vietnam’s exports bottoms out
VinaCapital’s chief economist Michael Kokalari notes that Vietnam’s exports are set to recover in this year’s fourth quarter, driven primarily by a bottoming out of the U.S. inventory cycle. This rebound is likely to help lift Vietnam’s GDP.
Consulting - Mon, Dec 22, 2021 | 11:30 am GMT+7
Foxconn invests fresh $100 mln in Vietnam
Foxconn, the world's largest contract electronics maker, has injected $100 million into its Singapore unit FIT Singapore to add to a new production project in Vietnam, according to the Taiwan Stock Exchange (TWSE).
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Taiwan cooling module maker to expand investment in Vietnam
Taiwan’s cooling module maker Asia Vital Components (AVC) plans to expand investment and production in Vietnam to meet growing demand from its U.S. customers.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam leverages rice exports but assures food security
Vietnam, the world’s third-largest rice exporter after India and Thailand, is expected to ship abroad 7.5 million tons of rice this year while maintaining national food security, officials said.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
91% of German firms plan Vietnam expansion
Up to 91% of German companies in Vietnam intend to expand their investments while 57% are seeking new and additional suppliers here as they diversify their supply chains, said Marko Walde, chief representative of AHK (the German Chamber of Commerce) in Vietnam, Myanmar, Cambodia, and Laos.
Executive Talk - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam's Manufacturing Purchasing Managers' Index rises to 48.7
The Vietnamese manufacturing sector improved in July against June but its Manufacturing Purchasing Managers' Index (PMI) is still under 50, which separates expansion from contraction, S&P Global said Tuesday.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam’s July industrial production up 3.9% against June
Vietnam’s index of industrial production (IIP) increased by 3.9% in July over the previous month and by 3.7% year-on-year, the General Statistics Office announced Saturday.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
EV maker VinFast builds $4 bln US complex, gets nod for US listing
Vietnamese electronic vehicle (EV) maker VinFast announced Friday it plans a stock market listing in the U.S. next month and broke ground the same day on its $4 billion EV and battery manufacturing complex in North Carolina.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Bidiphar to build $36 mln pharma plant in central Vietnam
Vietnamese drugs manufacturer Bidiphar plans to build a 2.4-hectare factory costing VND840 billion ($35.5 million) in the central province of Binh Dinh.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
US firm begins solar module production in northern Vietnam
U.S. solar module manufacturer Thornova Solar says it has started production at volume in its Vietnam facility that will supply products to the United States.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam braces for increased foreign R&D investments
Vietnam is becoming a popular destination for research and development (R&D) among multinationals as the country cements its status as a new global manufacturing hub.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Sustained drop in new orders amid weak demand in Vietnam: S&P
Manufacturers in Vietnam continued to struggle in the face of weak market demand as the second quarter drew to a close, with both output and new orders falling again in June, S&P Global said on Monday.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam's booming logistics sector still has room for growth
VinaCapital’s chief economist Michael Kokalari explains why investors should pay close attention to various opportunities in Vietnam’s logistics industry.
Consulting - Mon, Dec 22, 2021 | 11:30 am GMT+7
China energy storage firm Hithium mulls $900 mln investment in Vietnam
China’s Xiamen Hithium Energy Storage Technology is considering investing up to $900 million to build an energy storage system and battery plant in Vietnam, Reuters reported on Thursday.
Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Environmental protection more important than making profit: Lego executive
Enterprises that are shifting production to go green in Vietnam must protect the environment instead of chasing the cheapest cost, according to an executive from Danish giant toymaker Lego.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
New orders decline to 20-month low in Vietnam: S&P Global
Vietnam’s manufacturing sector contracted further in May with a steepening decline in new orders amid worsening global demand, ratings agency S&P Global announced on Thursday.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam’s manufacturing expands slightly in April
Vietnam's industrial production expanded by 0.5% year-on-year in April, but fell 1.8% in the first four months of the year amid weaker global demand, the General Statistics Office (GSO) said Saturday.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Czech carmaker Skoda eyes Southeast Asia expansion via Vietnam plant
Vietnam is serving as a strategic gateway for Skoda Auto to the dynamic ASEAN markets and the larger Indo-Pacific region, the Czech carmaker said.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam production sector slides into contraction: S&P Global
Vietnam’s manufacturing industry took a step back in March after February’s recovery as output and new orders have fallen down, S&P Global said Monday.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam’s GDP growth slows to 3.32% in Q1 amid global headwinds
Vietnam posted economic growth of 3.32% in the first quarter of 2023 compared to a year earlier, the General Statistics Office reported on Wednesday.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Germany’s Magnetec launches production plant in Vietnam
Magnetec GmbH, a German provider of system solutions for the innovative sectors of automotive, energy, industry, and safety, opened its first factory in Vietnam on Wednesday.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Korea firm SK Earthon eyes Vietnam crude oil production in 2025
South Korean petroleum exploration firm SK Earthon expects to start crude oil production at the 15-1/05 Block in the Cuu Long basin off southern Vietnam in 2025.
Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Sunny Optical prepares new $2.5 bln investment in Vietnam
Sunny Optical Technology, a supplier to major smartphone brands worldwide, is poised to invest an additional $2.5 billion building a manufacturing complex in northern Vietnam, where the Chinese group has already invested $130 million in four operating plants.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Germany’s DEG to invest $18 mln in Turkish diaper plant in Vietnam
DEG, the German Development Finance Institution, has approved an investment of 17 million euros ($18.1 million) into Hayat Kimya Vietnam Company, an Asian Development Bank-backed maker of baby diapers, wet wipes, and women’s hygiene pads.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam’s Feb production returns to growth: S&P Global
Vietnam’s industrial sector improved in February, recording a manufacturing PMI score of 51.2, up from 47.4 in January and 46.4 in December, showing a return of production growth, S&P Global announced on Wednesday.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam’s manufacturing, exports expand in February
Vietnam, a Southeast Asian production base for multinationals, achieved increases of 3.6% and 11% in industrial production and exports, respectively, in February from a year earlier, the General Statistics Office said Tuesday.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Foxconn considers building servers in Vietnam: industry report
Global technology manufacturer Foxconn, which is set to make Apple MacBooks in Vietnam for the first time from May 2023, is also studying the feasibility of producing servers in the Southeast Asian country, according to Digitimes Research.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Toyota Vietnam revs up local manufacturing strategy
Toyota Vietnam’s domestic production strategy has made a new step forward as the Japanese carmaker started delivery of a made-in-Vietnam duo to dealerships on Wednesday.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
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