Taiwanese touch device firm eyes $30 mln factory in Bac Ninh
TES Touch Embedded Solutions (Xiamen), a Taiwanese firm specializing in touch displays and devices, is eyeing to build a $30 million factory in the northern province of Bac Ninh.
The three-four hectare plant is part of the firm’s plan to relocate its production and research & development (R&D) activities to Vietnam, a company executive told Bac Ninh authorities at a meeting Tuesday.
TES, founded in 2015 with headquarters in China's Xiamen city, has manufacturing plants in Xiamen and Tainan, and R&D centers in Xiamen, Taipei, Shenzhen and the U.S.
Representatives of TES Touch Embedded Solutions meet Bac Ninh authorities in the northern province on October 25, 2022. Photo courtesy of Bac Ninh newspaper.
Bac Ninh currently has 16 industrial parks with a total investment of $23 billion from 39 foreign countries and territories in 16 sectors, official data shows. It is home to 55 Taiwanese-invested projects worth $600 million including Foxconn, Fushan, and Sunfar.
The province attracted 85 foreign-invested projects with total registered capital of $169.5 million in the first nine months of this year, down 13.4% and 67.5% year-on-year, respectively.
Bac Ninh, home to a Samsung plant, is an emerging industrial hub in northern Vietnam, together with Hanoi, Haiphong, Hai Duong, Vinh Phuc, and Thai Nguyen.
- Related News
- Read More
US semiconductor firm Marvell plans new design center in HCMC
Marvell Technology plans to open a new design center in Ho Chi Minh City next year, the U.S. semiconductor giant said in a Thursday statement.
Companies - Fri, May 17, 2024 | 3:55 pm GMT+7
Vietnam central bank to grant more time for debt rescheduling
Vietnam’s central bank is set to extend by six months, until the end of 2024, the time that the nation’s commercial banks can take to reschedule debts for struggling clients.
Banking - Fri, May 17, 2024 | 3:05 pm GMT+7
Vietnam likely to lack $3.93 bln in public investment capital in 2024: deputy minister
Vietnam is estimated to face a shortage of more than VND100 trillion ($3.93 billion) in public investment capital this year, according to Deputy Minister of Planning and Investment Tran Quoc Phuong.
Investing - Fri, May 17, 2024 | 2:13 pm GMT+7
Vietnam cement makers call for scraping of clinker export tax
Clinker, a crucial resource used in cement production in Vietnam, should be exempted from the current 10% export tax, according to the Vietnam Cement Association (VNCA).
Southeast Asia - Fri, May 17, 2024 | 2:03 pm GMT+7
Phones, components lose spot as Vietnam's largest export to China
With a decrease of 14% in export value in the first four months of this year, Vietnamese phones and components have lost their position as the number one export group to the Chinese market.
Southeast Asia - Fri, May 17, 2024 | 2:02 pm GMT+7
Malaysia overtakes Thailand as ASEAN's second-biggest auto market
Malaysia has overtaken Thailand to become Southeast Asia's second-largest auto market, after Indonesia, a major shift in a region that has become a key battleground for Asian automakers, Nikkei Asia reported on Wednesday.
Southeast Asia - Fri, May 17, 2024 | 2:00 pm GMT+7
Japan dairy giant Megmilk Snow Brand to establish Vietnam subsidiary
Japanese diary giant Megmilk Snow Brand will establish a Vietnamese subsidiary with a charter capital of VND265 billion ($10.4 million) this September.
Companies - Fri, May 17, 2024 | 1:55 pm GMT+7
Major realty developer An Gia longs for big shareholders after several partnership breakups
An Gia Real Estate Investment and Development Corporation is open to strategic partnerships for project development and would welcome big shareholders or institutions, said its chairman Nguyen Ba Sang.
Real Estate - Fri, May 17, 2024 | 11:43 am GMT+7
Vietnam further tightens gold trading amidst non-stop price hikes
The Vietnamese government is taking more aggressive action toward reining in the local gold market as prices of the metal remain high despite the central bank releasing more supply.
Finance - Fri, May 17, 2024 | 10:52 am GMT+7
US President Biden to end temporary duty-free period for Vietnam’s solar power items
U.S. President Joe Biden will end temporary duty-free tariffs on solar power items from Cambodia, Malaysia, Thailand, and Vietnam, starting next month.
Economy - Fri, May 17, 2024 | 9:40 am GMT+7
Denmark jewelry maker Pandora breaks ground on $150 mln facility in southern Vietnam
Pandora, the world’s largest jewelry brand, broke ground on its new $150 million crafting facility in the Vietnam-Singapore Industrial Park 3 (VSIP 3) on Thursday in Binh Duong province, about 40 km north of Ho Chi Minh City.
Industries - Fri, May 17, 2024 | 8:18 am GMT+7
Vietnam banks exploit financial services to improve net interest margin: expert
Facing a credit slowdown and reduced net interest margins, banks are shifting from lending to financial services to boost profits, explains finance expert Dr. Dinh Trong Thinh.
Southeast Asia - Thu, May 16, 2024 | 11:45 pm GMT+7
Petrovietnam strengthens solutions to create carbon credits
State-run Petrovietnam and its members have implemented a series of measures to reduce greenhouse gas emissions and convert to green energy.
Southeast Asia - Thu, May 16, 2024 | 11:44 pm GMT+7
Singapore tops global ranking in government effectiveness for two consecutive years
Singapore topped the global ranking that tracks the effectiveness of more than 100 governments around the world for the second consecutive year, according to the fourth edition of the Chandler Good Government Index (CGGI) released on Wednesday.
Southeast Asia - Thu, May 16, 2024 | 11:42 pm GMT+7
Stanchart to act as financial advisor for Vietnam’s green hydrogen project
Standard Chartered Bank Vietnam has reached an agreement to provide finance advisory services for the 260MW Tra Vinh green hydrogen manufacturing project in the country’s southern province of Tra Vinh.
Banking - Thu, May 16, 2024 | 11:40 pm GMT+7
Former HCMC chairman Le Thanh Hai removed from all Party positions
Le Thanh Hai, former Politburo member, former Ho Chi Minh City Party chief, and former chairman of the metropolis, has been stripped of all Party positions by the Party Central Committee.
Politics - Thu, May 16, 2024 | 10:07 pm GMT+7
