US-based drone maker aims to start $13.5 mln project in HCMC in Q3
Real-Time Robotics Vietnam, under California-based drone manufacturer and drone solution provider Realtime Robotics (RtR), plans to begin construction of a $13.5 million factory in Ho Chi Minh City next quarter.
According to the Ministry of Natural Resources and Environment’s draft environmental impact report for the project, the latest investment certificate was given to the firm in October 2022.
The firm aims to complete administrative procedures for the project in Q3/2024, start first phase construction in Q3/2024, begin second phase construction in Q4/2025, and enter operation at 100% capacity in 2027.
A Hera drone manufactured by Realtime Robotics on display at Vietnam International Defense Expo 2022. Photo courtesy of Realtime Robotics.
The project will cover 9,343 square meters in Saigon Hi-tech Park. It will have an annual output of 500,000 items for drone manufacturing and Big Data processing, including electronic components, video modules, computer components, batteries, and video cameras.
The factory is set to employ 80 people during construction, including 10 foreigners, and 180 during operation, including 20 foreigners. RtR was founded by Luong Quoc Viet, an overseas Vietnamese citizen.
According to RtR, it has a research and development team of 50 expert engineers including composite specialists, aerospace engineers, mechanical engineers, electronics engineers, firmware engineers, software engineers, and AI engineers.
RtR designs and manufactures its drones in-house, including airframes, electronics, payloads, ground control stations, batteries, chargers, control firmware, and analytical software.
- Related News
- Read More
Vietnam telecom giant VNPT posts over $239 mln pre-tax profit in 2024
State-owned Vietnam Posts and Telecommunications Group (VNPT) reported a consolidated pre-tax profit of VND6.09 trillion ($239.3 million) in 2024, according to its newly released business report.
Companies - Tue, December 24, 2024 | 10:01 pm GMT+7
Vietnam's PVI Insurance achieves historic VND20 trillion revenue milestone in 2024
PVI Insurance has made history as the first and only non-life insurance company in Vietnam to exceed VND20 trillion (roughly $786.2 million) in revenue in 2024.
Southeast Asia - Tue, December 24, 2024 | 9:18 pm GMT+7
Malaysian fund sues Amicorp for allegedly facilitating $7 bln fraud
Malaysian state fund 1Malaysia Development Berhad (1MDB) has filed a legal claim against corporate services provider Amicorp Group and its CEO Toine Knipping, alleging it facilitated over $7 billion in fraudulent transactions, the fund said on Monday.
Southeast Asia - Tue, December 24, 2024 | 9:11 pm GMT+7
Vietnam's e-commerce market exceeds $25 bln
Vietnam's retail e-commerce market is estimated to surpass $25 billion in 2024, marking a 20% increase compared to the previous year, according to the Ministry of Industry and Trade.
Southeast Asia - Tue, December 24, 2024 | 9:06 pm GMT+7
Philippines’ outstanding external debt hits record high
The Philippines’ outstanding external debt stood at $139.64 billion as of end-September, up 17.5% against the same period last year, says its central bank Bangko Sentral ng Pilipinas (BSP).
Southeast Asia - Tue, December 24, 2024 | 8:59 pm GMT+7
Vietnam ministry to ease direct power purchase agreement rules
Vietnam’s Ministry of Industry and Trade is drafting amendments to Decree 80/2024 on direct power purchase agreement (DPPA) mechanism, with easier terms on large consumers.
Energy - Tue, December 24, 2024 | 5:17 pm GMT+7
Operator of iconic market Ben Thanh appoints new general director
Nguyen Viet Ha, chairwoman of Ben Thanh Trading and Service JSC (Ben Thanh TSC), has been appointed the company's new general director, starting from January 1, 2025.
Companies - Tue, December 24, 2024 | 4:34 pm GMT+7
Korea’s confectionery Orion earns $43 mln from Vietnam in Jan-Sept
South Korean confectionery firm Orion earned an operating profit of VND1,083 billion ($42.6 million) in Vietnam in the first nine months of this year, up 14.8% year-on-year, according to the firm’s financial statements.
Companies - Tue, December 24, 2024 | 4:21 pm GMT+7
UK in the Bloc: CPTPP expansion benefits all parties
With the UK’s new access to CPTPP, the available Vietnam-UK free trade agreement, and the country's strong fundamentals, Vietnam continues to stand out in the region, offering more preferential trade opportunities for its partners across the globe, write Ian Tandy, co-head of global trade solutions, Asia Pacific at HSBC and Surajit Rakshit, head of global trade solutions at HSBC Vietnam.
Consulting - Tue, December 24, 2024 | 3:23 pm GMT+7
Saigon-Hanoi Securities receives certificate of merit from Hanoi chairman
Saigon-Hanoi Securities JSC (SHS) has been honored with a certificate of merit from Hanoi's Chairman for its outstanding achievements in connecting small and medium-sized enterprises (SMEs) in Hanoi, contributing to the capital’s socio-economic development.
Companies - Tue, December 24, 2024 | 2:17 pm GMT+7
SK Group’s $500 mln project in northern Vietnam records 61% construction completion
Ecovance Vietnam Co. Ltd., under South Korea’s chaebol SK, has reached 61% completion for its $500 million factory in Vietnam’s northern coastal city of Hai Phong.
Companies - Tue, December 24, 2024 | 1:49 pm GMT+7
Vietnam Education Publishing House, Chilean Embassy launch translation of children's literature series Papelucho
The diary chronicling Papelucho’s experiences and reflections has resulted in a series of 12 books originally published starting in 1947, with two posthumous books released in 2017.
Companies - Tue, December 24, 2024 | 1:20 pm GMT+7
Investors' wait-and-see approach, legal obstacles slow Vietnam's property market recovery: expert
Multiple factors are delaying the real estate market’s recovery, with the "wait-and-see" mentality of investors being a significant impediment, says Vo Hong Thang, director of consulting & project development at DKRA Group.
Real Estate - Tue, December 24, 2024 | 10:24 am GMT+7
Vietnamese people still hesitant to embrace solar power: association
Household electricity in Vietnam remains partially subsidized by the government, and low electricity consumption means the benefits of solar power are unclear to many, according to Nguyen Xuan Quy, vice president of the Vietnam Clean Energy Association (VCEA).
Companies - Tue, December 24, 2024 | 9:11 am GMT+7
Cocobay Danang mega project in central Vietnam still at a standstill
The developer of the Cocobay Danang project in central Vietnam announced plans to resume construction in May 2024, but as of now, no visible progress has been made.
Real Estate - Tue, December 24, 2024 | 8:12 am GMT+7
Toyota Vietnam to bolster supporting industry businesses in Vinh Phuc province
Japan's leading car manufacturer Toyota will support Vinh Phuc province-based enterprises in the automotive supporting industry to improve their capacity and develop the local economy.
Companies - Mon, December 23, 2024 | 10:43 pm GMT+7
