Samsung vendor to build new factory in northern Vietnam
SR Tech, a Samsung vendor, plans to build a four-hectare factory in the northern province of Thai Nguyen, a senior executive said Friday.
You Soo Don, CEO of SR Tech, announced the plan for the new factory at a meeting with Thai Nguyen Chairman Trinh Viet Hung. He said SR Tech considered Vietnam in general and Thai Nguyen province in particular a key investment destination of Samsung’s supply chain.
The company will cooperate with the province in training a high-quality workforce, exercising corporate social responsibility and promoting innovation towards green and sustainable development, he added.
Thai Nguyen Chairman Trinh Viet Hung (right) at a meeting with SR Tech CEO You Soo Don in the northern province, July 21, 2023. Photo courtesy of Thai Nguyen's news portal.
Thai Nguyen Chairman Hung welcomed the plan and asked the provincial industrial zone authority to help SR Tech and relevant agencies process the project.
He also highlighted Thai Nguyen’s strengths in industrial development, including seven industrial parks, 41 industrial clusters, the availability of 6,000 hectares for industrial facilities, and nine universities and 27 colleges that train 15,000-20,000 graduates every year. So far, 170 FDI firms have registered to invest $10 billion in the province.
Vietnam’s index of industrial production (IIP) showed signs of a recovery with year-on-year growth of 2.8% in June, but fell 1.2% year-on-year in the first six months of this year, the General Statistics Office (GSO) reported.
Bucking a national trend, Thai Nguyen’s IIP grew 4.14% year-on-year in the first six months of this year, including a 3.92% increase in June, according to provincial data.
However, the northern province has also acknowledged challenges including slow growth of the global economy impacting consumption demand, firms’ limited access to credit and high prices of input materials and energy.
Thai Nguyen is home to two Samsung subsidiaries. One of them, Samsung Electronics Vietnam Thai Nguyen (SEVT), earned revenues of KRW8,617.6 billion ($6.62 billion), down 18.5% year-on-year, in the first quarter of this year, according to the South Korean tech giant's interim business report. SEVT’s profit in the same period fell 69.3% to KRW296 billion ($227.43 million).
The other subsidiary, Samsung Electro-Mechanics Vietnam, which operates a factory in the province’s Yen Binh Industrial Park, recorded a post-tax profit of KRW43,481 million ($33.8 million) last year on a sales revenue of KRW1,975.1 billion ($1.54 billion), according to the parent firm’s financial statements.
- Read More
Toyota plans $359 mln plant expansion in northern Vietnam
Toyota Motor Vietnam (TMV) plans to invest about VND9.46 trillion ($359.2 million) in the first phase of its plant expansion project in Phu Tho province.
Investing - Fri, October 17, 2025 | 2:09 pm GMT+7
PVI Insurance sees 9-month profit before tax more than doubling
PVI Insurance has reaffirmed its position as the No. 1 non-life insurer in Vietnam, with total revenue increasing nearly 1.4 times in the first nine months of 2025 and pre-tax profit more than doubling year-on-year - surpassing its full-year targets for both revenue and profit.
Companies - Fri, October 17, 2025 | 9:08 am GMT+7
Vingroup to develop 4,600ha coastal urban project in northern Vietnam
A consortium of Vingroup (HoSE: VIC) and its real estate arm Vinhomes (HoSE: VHM) will develop a 4,600-hectare coastal urban complex in Ha An ward, Quang Ninh province, following local authorities’ approval of a zoning plan.
Real Estate - Fri, October 17, 2025 | 8:30 am GMT+7
Indonesia resumes int’l carbon trading after 4-year hiatus
Indonesian President Prabowo Subianto has issued a new decree to restart international carbon emissions trading after a four-year hiatus.
Southeast Asia - Thu, October 16, 2025 | 9:23 pm GMT+7
Investors seek 2-year delay for $2.56 bln LNG power project in northern Vietnam, citing equipment hurdles
Investors of a $2.56 billion LNG-fired power plant in Hung Yen province have proposed delaying the project’s commercial operation schedule by two years due to difficulties securing key equipment.
Energy - Thu, October 16, 2025 | 9:04 pm GMT+7
Vietnam to soon raise taxpayers' personal deduction: official
The personal income tax deduction in Vietnam is "very likely" to increase to VND21.7 million ($823,940) per month, including VND15.5 million (588,530) for the taxpayer and VND6.2 million ($235,410) for each dependent.
Finance - Thu, October 16, 2025 | 6:25 pm GMT+7
Business confidence climbs as reforms gain traction amid global headwinds: EuroCham Vietnam
The index climbed to 66.5, surpassing pre-tariffs level and reaching its highest in three years – showcasing resilience and adaptability amid global headwinds and evolving U.S. tariff pressures.
Economy - Thu, October 16, 2025 | 4:36 pm GMT+7
Vietnam's stock market watchdog suspends two Grant Thornton auditors
Vietnam's State Securities Commission (SSC) has suspended two auditors from Grant Thornton Vietnam after determining that the 2024 audited financial statements of Saigon Water Infrastructure Corporation (HoSE: SII) failed to meet required standards.
Finance - Thu, October 16, 2025 | 3:35 pm GMT+7
Law No. 56 a major policy breakthrough for Vietnam's stock market development
The Law No. 56, effective January 1, 2025, is one of the major legal breakthroughs in recent years that will enhance the transparency and operational efficiency of the Vietnamese stock market.
Finance - Thu, October 16, 2025 | 2:30 pm GMT+7
WHA Group breaks ground on smart technology industrial zone in central Vietnam
Thailand's WHA Group on Tuesday broke ground on a world-class, modern, and environmentally friendly industrial zone in central Vietnam, namely the WHA Smart Technology Industrial Zone-Thanh Hoa.
Real Estate - Thu, October 16, 2025 | 2:00 pm GMT+7
Vietnam a key partner in Murphy Oil’s global strategy: exec
Vietnam remains a key partner in Murphy Oil’s global business strategy, said Eric Hambly, the U.S. corporation's president and CEO.
Companies - Thu, October 16, 2025 | 12:06 pm GMT+7
VNPT, Qualcomm debut Vietnam’s 1st original design-based excellence center
State-owned Vietnam Posts and Telecommunications Group (VNPT) and Qualcomm have officially launched the VNPT-Qualcomm Excellence Center (VQEC), the first facility in the country to operate under an original design co-development model using Qualcomm’s core technologies.
Companies - Thu, October 16, 2025 | 8:41 am GMT+7
Indonesia enjoys steady growth in nine months
Indonesia's Ministry of Finance on Tuesday announced the country’s 2025 budget performance as of September, reporting that Southeast Asia’s largest economy continued to post steady growth despite global economic uncertainties.
Southeast Asia - Wed, October 15, 2025 | 9:53 pm GMT+7
Malaysia on progressive path towards AI nation status: experts
Malaysia is on a progressive track towards becoming an Artificial Intelligence (AI) nation by 2030, a goal seen as achievable under Budget 2026 - the Malaysian Government’s fiscal and policy framework for 2026.
Southeast Asia - Wed, October 15, 2025 | 9:44 pm GMT+7
Thailand steps up development of semiconductor industry
Thailand’s Board of Investment (BOI) plans to propose a new national semiconductor and advanced electronics policy board to the government, which will spearhead Thailand’s semiconductor development strategy.
Southeast Asia - Wed, October 15, 2025 | 9:40 pm GMT+7
ASEAN sets ambitious energy targets
Senior energy officials from ASEAN member nations and Timor-Leste on Tuesday convened in Kuala Lumpur, Malaysia, to finalize key outcomes and policy recommendations to be submitted to the 43rd ASEAN Ministers on Energy Meeting (AMEM).
Southeast Asia - Wed, October 15, 2025 | 9:33 pm GMT+7




















