Vietnam’s Becamex, Korea’s LS Electric join hands in smart factory solutions
Vietnam’s real estate major Becamex IDC and South Korea’s electric equipment maker LS Electric will jointly deliver advanced smart factory solutions to local manufacturers.
The two recently signed a memorandum of understanding in Vietnam’s southern province of Binh Duong for the move, LS Electric said Tuesday.
The deal aims to boost Vietnam’s digital transformation and drive innovation in the country’s manufacturing and automation sectors, promoting both sustainability and competitiveness, LS Electric added.
Representatives of Becamex and LS Electric signed an agreement in Binh Duong province, southern Vietnam. Photo courtesy of LS Electric.
Per the agreement, LS Electric will provide smart factory solutions and applications, with a focus on renewable energy storage. Becamex, a top industrial park developer in Vietnam, will coordinate and promote smart factory solutions.
Becamex IDC is 95.44% owned by the Binh Duong People’s Committee. It runs seven industrial parks (IPs) covering 4,700 hectares in Binh Duong province, a manufacturing hub in southern Vietnam. The firm is the largest IP owner in the locality, with a 30% plus market share.
The corporation also holds a 49% stake in Binh Duong-based Vietnam-Singapore Industrial Park JV Company (VSIP), a joint venture with Singapore’s Sembcorp Development.
VSIP, with Sembcorp owning 51%, has 12 IPs countrywide, covering over 10,000 hectares in total.
- Related News
- Read More
State-controlled giant Vietnam Rubber Group reports strong Q1 profit on high latex prices
Vietnam Rubber Group-JSC reported a net profit of VND1,184 billion ($45.5 million) in Q1/2025, 2.5 times higher than Q1/2024, which was largely driven by sustained high rubber latex prices amid rising global demand and tight supply.
Companies - Mon, May 5, 2025 | 8:22 am GMT+7
KRX trading system to go live on Monday: A 'pivotal milestone' for Vietnam's market status upgrade
The official launch of the new KRX trading system on May 5, after more than a decade of preparations, will mark a pivotal turning point for Vietnam’s stock market status upgrade, said Nguyen Duy Hung, chairman of leading broker Saigon Securities Inc. (SSI).
Finance - Sun, May 4, 2025 | 10:02 pm GMT+7
Vietnam distributor of Chinese EVs reports big profit growth in Q1
Vietnam’s TMT Motors Corporation (HoSE: TMT), the distributor of Chinese electric vehicle brand Wuling, reported VND33.76 billion ($1.3 million) in Q1 after-tax profit, about 125 times higher than Q1/2024.
Companies - Sun, May 4, 2025 | 7:38 pm GMT+7
Vietnamese EV maker VinFast signs loans worth $190 mln for Indonesia plant
VinFast, the electric vehicle arm of Vietnam's leading private conglomerate Vingroup, has secured a long-term syndicated loan agreement worth IDR1.85 trillion ($110 million) and an $80 million accordion facility from two Indonesian banks to finance the construction of its plant in Indonesia.
Companies - Sun, May 4, 2025 | 12:55 pm GMT+7
Vietnam's logistics major Transimex targets 20% profit growth in 2025
Transimex, a top logistics firm in Vietnam, targets net profit of over VND204 billion ($7.8 million) for 2025, up 20% year-on-year, on revenue of over VND3.36 trillion ($129.2 million), up 1%.
Companies - Sun, May 4, 2025 | 12:23 pm GMT+7
Vietnam's retail giant Petrolimex seeks foreign partnership in green energy technologies
Vietnam's biggest gasoline retailer Petrolimex has started selling biofuels and is actively seeking opportunities to partner with international players to invest in green energy technologies. Chau Anh reports.
Companies - Sun, May 4, 2025 | 9:37 am GMT+7
Vietnam's major tire maker Danang Rubber to be supplier of EV maker VinFast
Danang Rubber JSC (DRC), a subsidiary of Vietnam’s state-owned chemical giant Vinachem, will develop a dedicated line of electric vehicle (EV) tires while rolling out products to support its new partnership with the country's leading EV manufacturer VinFast.
Economy - Sun, May 4, 2025 | 8:00 am GMT+7
Vietnam’s VN-Index world’s second-worst performer in Apr amid US tariff turmoil
Vietnam’s benchmark VN-Index dropped by more than 80 points, or 6.2%, in April, ranking as the second-worst performing stock index globally, according to data compiled by IndexQ.
Finance - Sat, May 3, 2025 | 6:48 pm GMT+7
American International School Vietnam chairwoman arrested for disrupting public order
Ho Chi Minh City police's investigative agency on Thursday initiated legal proceedings against and detained chairwoman of American International School Vietnam (AISVN) Nguyen Thi Ut Em for "disturbing public order.”
Companies - Sat, May 3, 2025 | 5:07 pm GMT+7
Nike, Adidas ask President Trump for tariff exemption over business shutdown concerns
Major footwear and apparel brands, including Nike and Adidas which outsource a large portion of their output from Vietnam, are asking U.S. President Donald Trump for a tariff exemption due to concerns over looming cost surges and business shutdown.
Economy - Sat, May 3, 2025 | 1:12 pm GMT+7
Vietnam's Novaland wins lawsuit against Korean giant Taekwang Vina over HCMC project
Vietnam's leading developer Novaland has won a legal dispute with South Korea’s Taekwang Vina regarding a major real estate project in Thu Duc city, Ho Chi Minh City.
Companies - Sat, May 3, 2025 | 11:20 am GMT+7
Vietnamese approves two-year sandbox trial of P2P lending
Vietnam will roll out a two-year sandbox trial of peer-to-peer (P2P) lending, credit scoring, and data sharing via open application programming interfaces, starting July 1, according to a newly-issued government decree.
Banking & Finance - Sat, May 3, 2025 | 8:17 am GMT+7
Hyundai Vietnam joint venture to spend $100 mln on shipbuilding capacity expansion
Hyundai Vietnam Shipbuilding Co., Ltd. (HVS), a joint venture between South Korea and Vietnam, is set to invest an extra $100 million in expanding its shipbuilding capacity in Vietnam.
Industries - Fri, May 2, 2025 | 8:03 pm GMT+7
Vietnam's economic hub HCMC moves closer to establishing int’l financial center
After more than two decades of planning, the vision of establishing an international financial center in Ho Chi Minh City is finally gaining real momentum as the Politburo has officially endorsed the proposal, drawing significant attention from investors.
Southeast Asia - Fri, May 2, 2025 | 6:04 pm GMT+7
Vietnam cuts LNG import tariff to boost clean energy transition
The Vietnamese Government has reduced the preferential import tariff on LNG from 5% to 2% under a decree issued on March 31, which marks a key step in accelerating the country’s shift from fossil fuels to cleaner energy.
Southeast Asia - Fri, May 2, 2025 | 3:26 pm GMT+7
Vietnam races against time to have EC’s 'yellow card' lifted before Sept 15
Vietnam's Ministry of Agriculture and Environment has proposed Prime Minister Pham Minh Chinh issue an action plan to address the European Commission's (EC) “yellow card” warning and prepare for the fifth EC inspection.
Southeast Asia - Fri, May 2, 2025 | 3:21 pm GMT+7
