Vietnam southern industrial hub lures $834 mln in FDI Jan-May, beating full-year goal
Dong Nai province, one of Vietnam’s major southern industrial hubs, attracted a total of $834 million in foreign direct investment in the first five months of this year, 19% above its whole-year target.
That performance put Dong Nai among the top five FDI recipients in the five-month period, besides Ba Ria-Vung Tau, Hanoi, Bac Ninh, and Ho Chi Minh City.
Among the economies investing in the province between January and May, Singapore took the top spot with nine projects worth $231 million.
According to the Foreign Investment Agency under the Ministry of Planning and Investment, Dong Nai attracted $788.61 million in FDI in the year to April 20, up 16.2% year-on-year.
Data from the Dong Nai Industrial Zones Authority shows that foreign-invested enterprises in the province spent $4.5 billion on business operations in the first five months of this year, up circa 10% year-on-year.
In May alone, they invested nearly $1.8 billion on manufacturing activities, up $200 million from April.
Some major companies reportedly say that domestic and overseas orders had prompted them to put more money into their operations, mostly for buying input materials and expanding production lines.
Dong Nai is home to large garment and footwear companies that are contract producers for international brands like Nike, Adidas, and Puma.
- Read More
Clear M&A potential in Vietnam clouded by legal gray areas: ONE-VALUE exec
Vietnam's mergers and acquisitions (M&A) market has been vibrant in recent years but some legal gray areas that dishearten foreign investors, Japanese included, have prevented its full exploitation.
Executive Talk - Fri, November 8, 2024 | 7:55 am GMT+7
Mega Long Thanh airport should have one more runway in first phase: cabinet
The Long Thanh International Airport in Vietnam's southern province of Dong Nai should have a second runway added to its first phase of construction, increasing the airport’s capacity, says the government.
Infrastructure - Thu, November 7, 2024 | 9:57 pm GMT+7
Thailand receives over 29 mln foreign tourists in Jan-Oct
Thailand welcomed more than 29 million foreign tourist arrivals in the first 10 months of this year, generating THB1.35 trillion ($39.3 billion) in tourism revenue, according to Tourism and Sports Minister Sorawong Thienthong.
Southeast Asia - Thu, November 7, 2024 | 8:01 pm GMT+7
Vietnam inflation up 3.78% in first 10 months
Vietnam's consumer price index (CPI), an indicator of inflation, went up 0.33% from September to October and 3.78% in the first 10 months of this year, the General Statistics Office (GSO) said Wednesday.
Economy - Thu, November 7, 2024 | 7:50 pm GMT+7
Vietnam agricultural machinery firm VEAM plans 50.35% dividend payout for 2023
State-controlled Vietnam Engine and Agricultural Machinery Corporation (VEAM) has announced its 2023 dividend payout plan – a cash dividend rate of 50.35%, equivalent to VND5,035 ($0.2) per share.
Companies - Thu, November 7, 2024 | 5:42 pm GMT+7
New realty-related laws enhance investor confidence in Vietnam: Savills
The recent enactment of new real estate-related laws is augmenting investor confidence in Vietnam’s stable and transparent legal environment, with foreign investors showing strong interest in diverse segments, says a Savills Vietnam executive.
Real Estate - Thu, November 7, 2024 | 5:09 pm GMT+7
Vietnam invites China railway builder to join project linking 2 nations, begin in 2025
Vietnamese Prime Minister Pham Minh Chinh has urged China Railway Construction Corporation (CRCC) to join the railway project linking the two nations, with an aim to start the construction in 2025.
Infrastructure - Thu, November 7, 2024 | 3:21 pm GMT+7
Vietnamese tea undervalued by lack of innovation: national association chairman
Tea growers in Vietnam primarily concentrate on meeting immediate production and sales agreements; and not enough of “polishing or innovating,” which undervalues Vietnamese tea, says Hoang Vinh Long, chairman of the Vietnam Tea Association.
Economy - Thu, November 7, 2024 | 2:28 pm GMT+7
Korean Air announces new country manager for Vietnam
Korean Air has appointed Kyoung Hee Kang as its new regional manager for Vietnam as the Korean airline is looking to serve the increasing demand of travelers between the two countries.
Companies - Thu, November 7, 2024 | 1:08 pm GMT+7
Northern Vietnam province okays Taiwan’s $120 mln fan manufacturing investment
Thai Binh province has licensed Taiwanese-invested Yuan Long International Limited's $120 million project to manufacture ceiling fans and fan components.
Industries - Thu, November 7, 2024 | 11:59 am GMT+7
China’s Comac partners with Vietjet to operate homemade planes in Vietnam
China’s state-owned aerospace manufacturer Comac has been partnering with Vietjet to operate its self-made airplanes in Vietnam as the former looks to tap the Southeast Asian country’s fast-growing aviation market.
Companies - Thu, November 7, 2024 | 11:43 am GMT+7
Japan firms ready to build $2 bln northern Vietnam LNG power plant in 2025
Truong Thanh Vietnam Group and Japanese firms Tokyo Gas and Kyuden International are meeting deadlines to kick off construction of the $2-billion LNG Thai Binh power plant in northern Vietnam in Q3/2025.
Energy - Thu, November 7, 2024 | 11:29 am GMT+7
Vietnam President to attend APEC in Peru, first overseas trip since inauguration
Vietnamese State President Luong Cuong will pay an official visit to Peru and attend the 2024 APEC Economic Leaders’ Week in Lima from November 12-16, marking his first overseas trip since taking office late last month.
Politics - Thu, November 7, 2024 | 10:19 am GMT+7
How Trump's presidency could affect Vietnam's economy, stock market
Donald Trump’s election as the United States' 47th President could have a strong impact on Vietnam's economy and stock market, say some Vietnamese analysts.
Economy - Thu, November 7, 2024 | 9:36 am GMT+7
Vietnam hydropower firms see robust Q3 profit growth
Hydropower developers in Vietnam posted strong year-on-year profit growth in Q3/2024, thanks to higher electricity consumption and favorable hydrological conditions.
Finance - Thu, November 7, 2024 | 8:03 am GMT+7
Thai rice exports to face stiffer competition from India
Thailand’s rice exports are expected to face stiffer competition as India has removed export restrictions and taxes, allowing unlimited rice exports, according to Charoen Laothammatas, president of the Thai Rice Exporters Association.
Southeast Asia - Wed, November 6, 2024 | 10:51 pm GMT+7