Vietnam ideal new manufacturing base for Taiwan semiconductor firm TSMC: Amata exec
Vietnam will be an ideal location if Taiwan Semiconductor Manufacturing Company (TSMC) plans to establish a new manufacturing base amidst ongoing US-China tensions, said an Amata executive.
Somhatai Panichewa, CEO of Amata VN, the Vietnamese unit of Thailand’s leading industrial real estate developer Amata, was quoted by Japanese news agency NNA as saying this Tuesday at a press conference in Bangkok.
The “Amata Vietnam: Driving Progress in 2024 and Beyond” press conference was co-hosted by Thailand’s Amata and Japanese giant Marubeni. It focused on “China plus one” strategies for businesses from Japan and other economies.
As the United States diversifies its procurement sources for the semiconductor industry, Southeast Asian countries are looking to expand into high value-added upstream processes, Panichewa said.
She noted that Vietnam was not only rich in rare earths that are indispensable for semiconductor manufacturing, but it would also be easy for Vietnam to obtain support from the United States.
Electronics, semiconductors and automobile components are sectors where investment in Vietnam is likely to increase in the future, she added.
She also highlighted Amata VN’s readiness to welcome more foreign direct investment (FDI) into Vietnam.
Amata has four current and upcoming industrial real estate projects in Vietnam covering 3,000 hectares that are hosting FDI projects worth more than $6 billion.
The four industrial parks are Amata City Bien Hoa in Dong Nai province, southern Vietnam; Amata City Long Thanh, also in Dong Nai; Amata City Ha Long in Quang Ninh province, northern Vietnam; and the Quang Tri Industrial Park, a joint investment between Amata, Japan’s Sumitomo and Singapore-invested VSIP.
Vietnam’s attractiveness for the electronics and semiconductor industries was highlighted in May by Minister of Planning and Investment Nguyen Chi Dung, who said many global tech majors have shown keen investment interest.
In June, Deputy Prime Minister Tran Hong Ha said Vietnam has all suitable conditions to become a key part of the global semiconductor industry, but it will involve a long-term, costly strategy, with piloting fabrication of chips likely to cost up to $7 billion.
TSMC's consolidated revenue reached TWD2,161.7 billion ($66.4 billion) in 2023, down 4.5% year-on-year. It produced 28% of the world semiconductor excluding memory output value in 2023, compared to 30% the previous year, mainly due to inventory correction in the semiconductor industry. It shipped 12 million 12-inch equivalent wafers, less than 15.3 million in 2022.
- Read More
Australia's EQ Resources acquires TMG Group with Vietnam-based ferrotungsten factory
Australia-based EQ Resources Limited has acquired its fellow firm Tungsten Metals Group (TMG), which owns and operates the largest ferrotungsten (FeW) factory outside China.
Companies - Tue, November 19, 2024 | 11:00 am GMT+7
Techcom Securities becomes largest broker in Vietnam by capital base
Techcom Securities JSC (TCBS) has become the largest securities company in Vietnam by charter capital after finishing a rights offering last week.
Finance - Tue, November 19, 2024 | 9:11 am GMT+7
Vietnam airport operator ACV looks to better exploit non-aviation service potential: exec
Vietnam's airports operator ACV expects to earn $145 million from non-aviation services this year, accounting for around 18.83% of its total revenue, which is modest compared to other countries, said deputy general director Nguyen Duc Hung.
Companies - Tue, November 19, 2024 | 7:45 am GMT+7
The Investor to host seminar on removing legal bottlenecks for infrastructure, property investment
A seminar themed “Removing legal bottlenecks for infrastructure and property investment” will be organized by The Investor in Hanoi on Tuesday.
Economy - Tue, November 19, 2024 | 7:00 am GMT+7
Indonesia promises Asia-Pacific investors more incentives
Indonesian President Prabowo Subianto recently told the press that he will create more incentives and expand special economic zones (SEZs) so as to lure investors from Asia-Pacific.
Southeast Asia - Mon, November 18, 2024 | 11:01 pm GMT+7
Indonesia, Brazil enhance aviation cooperation
Indonesia's state-owned aircraft manufacturer, Dirgantara Indonesia (DI), and Brazilian aerospace company Embraer have signed a memorandum of understanding (MoU) to expand collaboration in the commercial aviation sector.
Southeast Asia - Mon, November 18, 2024 | 11:00 pm GMT+7
Indonesia eyes to become member of BRICS
Indonesian President Prabowo Subianto has shown his country’s desire to become a member of the BRICS - the alliance of major emerging economies initiated by Brazil, Russia, India, China, and South Africa.
Southeast Asia - Mon, November 18, 2024 | 10:57 pm GMT+7
Former Party chief, chairman of Vinh Phuc province face disciplinary action
Vietnam’s Central Inspection Committee has proposed disciplining Pham Van Vong, former Party chief of Vinh Phuc, and Phung Quang Hung, former chairman of the northern province, for violations related to Phuc Son Group.
Politics - Mon, November 18, 2024 | 9:17 pm GMT+7
Shaping a waterway into a key shipping channel: Viconship gets dredging nod
A major dredging project will allow safer ship navigation and increased cargo transportation capacity on the Hai Phong shipping channel, thereby enhancing competitiveness of Vinconship’s port system, says the company.
Companies - Mon, November 18, 2024 | 7:08 pm GMT+7
Former assistant to State President appointed general director of state-owned financial firm HFIC
Truong Tuan Anh, an official at the State President Office and former assistant to a state president, has been appointed general director of Ho Chi Minh City Finance and Investment Stated-owned Company (HFIC).
Companies - Mon, November 18, 2024 | 5:35 pm GMT+7
MBBank’s takeover of weak OceanBank to have limited impact on its credit profile: Fitch
Military Commercial Joint Stock Bank's (MBBank) takeover of Ocean Commercial Bank Limited (OceanBank) will have limited financial impact on the former’s credit profile, Fitch Ratings said Monday.
Banking - Mon, November 18, 2024 | 5:06 pm GMT+7
Win-win philosophy indispensable for sustainable growth: Bamboo Capital founder
A win-win cooperation strategy is not just desirable, but a necessary condition for sustainable development, says Nguyen Ho Nam, founder of Vietnam’s private conglomerate Bamboo Capital Group.
Bamboo Capital - Mon, November 18, 2024 | 4:46 pm GMT+7
Vietnam central bank resumes selling gold after 1-month hiatus
The State Bank of Vietnam (SBV), the country's central bank, on Monday announced that it will reactivate the sale of SJC-branded gold bars to meet market demand.
Banking - Mon, November 18, 2024 | 4:02 pm GMT+7
Vietnam 2nd biggest market of Thai giant Central Retail in Jan-Sept
Thailand’s leading retailer Central Retail earned a revenue of THB37.99 billion ($1.09 billion) in Vietnam in the first nine months of this year, up 0.9% year-on-year.
Companies - Mon, November 18, 2024 | 4:00 pm GMT+7
Singapore firm to invest in $19.7 mln garment factory in central Vietnam
Singaporean-based HGQ ASIA Pte., Ltd will pour nearly VND500 billion ($19.7 million) into building a garment factory in the south-central province of Binh Dinh.
Industries - Mon, November 18, 2024 | 2:23 pm GMT+7
IP developer KBC to raise $236 mln to restructure debts, augment capital
Kinhbac City Development Holding Corporation (KBC), a leading industrial real estate developer in Vietnam, will offer 250 million shares to 11 investors for more than $6,000 trillion ($236.4 million) to restructure its debts.
Companies - Mon, November 18, 2024 | 2:17 pm GMT+7