Samsung to make Vietnam R&D center a global facility
Korean tech giant Samsung wants to turn its December-launched Vietnam R&D center with $220 million in investment into a leading global hub, Samsung Vietnam CEO Choi Joo Ho said Sunday.
It is the first mission, while the second is to help develop technology talent in Vietnam, Choi told a conference the Vietnamese government held to discuss development plans for the Red River Delta region.
To serve the goal of developing talent sources, Samsung will accelerate training by providing scholarships and internships for promising tech students and strengthening cooperation with universities in Vietnam, he said.
The Samsung Vietnam head added that the Korean giant continues to cement its cooperation with Vietnamese businesses, helping them develop and join the group’s global value chain, thus supporting the development of Vietnam’s manufacturing industry.
As of the end of 2022, the total number of Vietnam Tier-1 and Tier-2 suppliers in Samsung’s global supply chain was 257, a 10-fold increase against 2014, according to Samsung Vietnam.
Vietnam is already a production base for Samsung as well as other electronic multinationals like LG and suppliers for Apple, Google, Dell, Sony and the like. Samsung Electronics Executive chairman Lee Jae-yong in late December inaugurated the new Samsung R&D center in Hanoi, where around 3,000 researchers and engineers will work.
In Samsung’s long-term strategy, Vietnam is moving beyond its status as a significant global manufacturing base and evolving into a strategic R&D hub. More than half of Samsung smartphones are made in Vietnam.
- Read More
Bright prospects seen for banking, securities, real estate, retail stocks next year: broker
Banking, securities, real estate and retail stocks have the potential to do well in 2025, says Dao Hong Duong, director of sectors and stock analysis with VPBank Securities (VPBankS).
Banking & Finance - Mon, November 11, 2024 | 9:37 pm GMT+7
Taiwan SpaceX supplier Universal Microwave Technology to double Vietnam investment
Taiwan-based Universal Microwave Technology, a supplier for billionaire Elon Musk’s SpaceX, has said that it will increase its investment in Vietnam to a maximum $12 million.
Industries - Mon, November 11, 2024 | 7:51 pm GMT+7
Vietnam central bank sticks to ‘goldization’ fight, will consider open gold exchange
Vietnam’s central bank, the State Bank of Vietnam (SBV), will continue to discourage the use of gold as investment or an asset to speculate on, says Governor Nguyen Thi Hong.
Banking - Mon, November 11, 2024 | 5:48 pm GMT+7
Vietnam records highest rate of online shopping in Asia Pacific: PwC
Vietnam stands out among the Asia Pacific region with the highest rate of online shopping. Vietnamese consumers are also increasingly prioritizing sustainability in their consumption practices, write PwC Vietnam analysts.
Consulting - Mon, November 11, 2024 | 5:18 pm GMT+7
Malaysia tightens control of social media
Social media platform providers have been given a one-month deadline to respond to the code of conduct, after which they will be required to register with the Malaysian Communications and Multimedia Commission (MCMC) for licensing purposes, according to Malaysian Communications Minister Fahmi Fadzil.
Southeast Asia - Mon, November 11, 2024 | 4:05 pm GMT+7
Thailand pursues new policies to boost digital economy
The Thai Government is pursuing new digital policies to handle emerging security threats, including the impacts of US-China rivalry on the economy and technology, says Prime Minister Paetongtarn Shinawatra.
Southeast Asia - Mon, November 11, 2024 | 4:02 pm GMT+7
Japan’s Shizuoka Gas to acquire 25% stake in 50MW solar power plant in Vietnam
Japan’s Shizuoka Gas will acquire a 25% stake of My Son-Hoan Loc Viet Solar Energy JSC, the owner of 50-MW My Son-Hoan Loc Viet solar power plant in Vietnam’s central province of Ninh Thuan.
Energy - Mon, November 11, 2024 | 3:59 pm GMT+7
Vietnam central bank vigilant on inflation, cautious about credit risks
Vietnam’s central bank will manage its monetary policy in coordination with its fiscal policy to support economic growth, but it will stay alert about the return of inflation and take prompt action to curb it, says Governor Nguyen Thi Hong.
Banking - Mon, November 11, 2024 | 3:29 pm GMT+7
Vietnam’s first LNG-to-power plants set to connect to grid mid-Nov
Nhon Trach 3 and Nhon Trach 4 power plants, the first LNG-to-power plants in Vietnam and located in the southern province of Dong Nai, are set to connect to the grid later this month.
Energy - Mon, November 11, 2024 | 2:28 pm GMT+7
Vietnam credit expands over 10% in 10 months
Credit in Vietnam as of October 31 had grew 10.08% compared to the end of 2023, and 16.65% year-on-year, according to State Bank of Vietnam (SBV) Governor Nguyen Thi Hong.
Banking - Mon, November 11, 2024 | 12:09 pm GMT+7
Qualcomm earns $39 bln revenue, Vietnam 2nd biggest market
American chipmaker Qualcomm earned a revenue of $38.96 billion in fiscal year 2024 (ending September 29), including 12% from Vietnam, the second-highest portion among all nations.
Companies - Mon, November 11, 2024 | 11:00 am GMT+7
Vinhomes spends $198 mln on record share buyback since start
Vinhomes, the largest housing developer in Vietnam, has spent some VND5 trillion ($197.82 million) on buying back its shares since it started its record-breaking plan on October 23.
Finance - Mon, November 11, 2024 | 9:25 am GMT+7
Vietnam moves up in global value chain with high-value investments: Savills
Vietnam's industrial sector is undergoing a significant transformation, attracting a "new wave" of high-value investments and the attention of leading global manufacturers and technology experts, says a Savills Vietnam report.
Investing - Mon, November 11, 2024 | 8:08 am GMT+7
KFC Indonesia shutters numerous outlets, lays off thousands of employees
KFC Indonesia, owned by Gelael and Salim Group under PT Fast Food Indonesia Tbk (FAST), reported a net loss of IDR557.08 billion (over $36 million) as of the third quarter of this year, resulting in the company’s closure of 47 outlets (as of September) and sack of 2,274 employees.
Southeast Asia - Sun, November 10, 2024 | 11:00 pm GMT+7
Indonesia eyes to become world’s palm oil price setter
Indonesia’s Ministry of Agriculture has set a target of making the country the world’s largest palm oil producer by 2025, enabling it to influence global prices of the commodity.
Southeast Asia - Sun, November 10, 2024 | 11:00 pm GMT+7
Vietnamese broker ACBS sees profit surge, sustained capital support from parent bank
ACB Securities JSC (ACBS) has reported a surge in both charter capital and profit, fueled by continued investment from its parent company, Asia Commercial Bank (ACB).
Finance - Sun, November 10, 2024 | 7:45 pm GMT+7