Investing

The central city of Da Nang has been compiling simplified investment procedures to support European businesses with more transparency and a reduction in informal charges. A ship is built at Da Nang-based Song Thu Ship-yard building Corporation. Ship-building is one of hi-tech industries that the city want to lure more investment from EU. - VNS Photo Cong Thanh Speaking at the Whitebook Briefing 2018 between representatives of EuroCham, European businesses and the city’s leadership on June 14, deputy director of the city’s Investment Promotion Agency Huynh Thi Lien Phuong said new procedures would be introduced later this year, helping European investors to obtain investment licenses, clear land and understand tax and customs regulations. She said Da Nang had been working hard on administrative reform while it promoted 2018 as The Year of Investment Attraction. Phuong said the city would offer co-operative opportunities to European partners and local colleges to … [Read more...] about Da Nang seeks EU investment

The Mekong Delta province of An Giang plans to launch more than 50 projects to attract domestic and foreign investment. A corner of Nui Cam tourism area in Tinh Bien District in the southern province of An Giang.-Photo Manh Linh This was announced at a meeting held in the province on Thursday. The projects will be introduced at a conference to promote investment in the province, scheduled for September 10-12, 2018. They include 14 projects in agriculture, 22 in services and tourism, 14 in the industry and three in construction and urban development, along with others in transportation and healthcare. The event is expected to attract some 380 domestic and international delegates. Products of 27 local businesses and craft villages will also be on display. At the meeting, which was held to prepare for the conference, chairman of the provincial People’s Committee Vuong Binh Thanh instructed agencies to complete contents related to investment incentives, especially in the … [Read more...] about An Giang seeks investment in over 50 projects

The joint venture between Vinfast and its Thai partner to manufacture Body in White shows the corporation’s commitment to increase the localisation rate of its products.    Vinfast and Thailand's leading auto parts manufacturer will boost the localisation rate of Vietnam's very own car brand On June 11, Vinfast signed a Memorandum of Understanding (MoU) to set up a joint venture with Aapico Hitech Plc., one of Thailand’s leading auto parts manufacturers with a market cap of $400 million, to set up a press shop and assembly operations in Vinfast’s Supplier Park in Haiphong. The purpose of the joint venture is to supply BIW (Body in White) parts for the first two models of Vinfast vehicles—a Sedan and a SUV—to be produced by the third quarter of 2019. Covering an area of 9.1 hectares in Vinfast’s Supplier Park, the project has the total investment of $60 million, with 51 per cent holding of Aapico and 49 per cent of Vinfast. "We … [Read more...] about Vinfast establishes $60 million joint venture with Aapico Hitech

The Cuu Long (Mekong) Delta province of Kien Giang aims to mobilise VND215 trillion (US$ 9.5 billion) for socio-economic development by 2020 and VND 1,000 trillion (US$ 45 billion) by 2030. Tourists on Phu Quoc Island, southern Kien Giang Province. The province is striving to hit 10 million tourists by 2020.-VNA/VNS Photo Le Huy Hai The adjusted target was recently approved by the PM as part of a master plan to 2020 and towards 2030 for the province. Pham Vu Hong, chairman of the province’s People’s Committee, said that Kien Giang targeted becoming a well-developed locality and a transportation and tourism service destination in the Mekong Delta, and a development hub of the southern key economic region. As part of the target, Kien Giang will adjust and improve the quality of its planning activities and its master plans and plans for specific sectors such as tourism, agriculture, aquaculture and industry. It will also create favourable conditions for enterprises … [Read more...] about Kien Giang eyes large investment

Major local conglomerate Vingroup today announced plans to start manufacturing smart electronic devices, beginning with smart phones under the Vsmart brand. Vsmart manufacturing plant will be located at current Vinfast auto manufacturing complex in Haiphong city Accordingly, the company will establish VinSmart Co. with the registered capital of VND3 trillion ($133 million), which will be operating in the main fields of producing smart electronic devices, initially smart phones under the Vsmart brand, and research the application of artificial intelligence (AI), automation, and new-generation materials. The Vsmart manufacturing plant will be built following international standards at the company’s existing car manufacturing complex VinFast located at Dinh Vu-Cat Hai Economic Zone in the northern port city of Haiphong. Vingroup is working with world’s leading advisors on acquiring cutting-edge technologies and production equipment to serve its new project. … [Read more...] about Vingroup forays into smart phone manufacturing with Vsmart