Investing

ABB announced that it has started construction of its new robotics manufacturing and research facility in China, the world’s largest robotics market. The facility is expected to open during 2021 and represents a total investment of $150 million. The new ABB facility will employ robots – to build robots The new 67,000 square metre factory in Kangqiao, near Shanghai, will deploy the latest manufacturing processes, including machine learning as well as digital and collaborative solutions. It will be the most advanced, automated, and flexible factory in the robotics industry worldwide – a center where robots make robots. The new factory will also host an onsite research and development centre, which will help accelerate innovations in AI. The center will serve as an open innovation hub where ABB closely collaborates with its customers to co-develop automation solutions that are tailored to their individual needs. ABB’s robotics solutions serve a diverse … [Read more...] about ABB breaks ground on its advanced robotics factory in Shanghai

The south-central province of Binh Thuan has strived to improve its infrastructure and offers numerous incentives to investors, its leader has said. Red Sand Dunes, one of the unique attractions of Binh Thuan Province’s Mui Ne Town. - VNA/VNS Photo Nguyen Ngoc Hai, chairman of the provincial People’s Committee, said in addition to the Government’s incentives, the province had a number of specific mechanisms and policies to attract investment in its industrial clusters with a focus on supporting investors during the process of implementing their projects and regularly organising dialogues with them to promptly resolve difficulties. It also continued to review and amend regulations related to the investment environment, business registration, land, capital, construction permits and taxes to simplify them. It was especially focused on creating a one-stop-shop for administrative procedures in many fields. Amid the regional and international integration, Binh … [Read more...] about Binh Thuan makes intense efforts to attract investors

As of late June, VNG's VND506 billion ($22 million) investment in Tiki has been fully lost. VNG's $22 million investment in Tiki is fully gone VNG Corporation, which holds 24.6 per cent of e-commerce platform Tiki, has just released its consolidated financial statement audited by Ernst & Young Vietnam. During the first six months of this year, VNG gained VND2.524 trillion ($109.74 million) in revenue, up 22 per cent on-year. Of this, revenue from online games rose by 22 per cent on-year, and made up 81 per cent of the total revenue. Revenue from online advertising also increased by 32 per cent to VND413 billion ($17.96 million). Costs of the first half increased very little, while the loss from affiliated companies reduced by VND71 billion ($3.1 million) on-year to VND28 billion ($1.22 million). Thereby, VNG's profit in the first six months rose by 31 per cent to VND315 billion ($13.7 million). At the end of the first half, the total assets of VNG were VND5.764 trillion … [Read more...] about Tiki burned through $22 million from VNG

The new FDI strategy will look towards attaining more interest in high-tech contributions into domestic sectors Nearly one month after the Politburo’s issuance of Resolution No.50-NQ-TW, giving directions to complete the legal framework on foreign direct investment (FDI) attraction in the new development era, the government e-portal last week held a discussion on how Vietnam can deal with any challenges and make preparations to possibly welcome new-generation FDI in the months to come. While highlighting the contributions of FDI in socio-economic development over the past 30 years and shortcomings related to environmental pollution and low spillover effects, Deputy Minister of Planning and Investment Vu Dai Thang said that the country’s new strategy is being built towards increasing responsibility of foreign-invested enterprises (FIEs) and further diversifying investment co-operation. “Reform of legal policy and development of infrastructure and human resources are … [Read more...] about Quality FDI attraction receives resolution lift

David Best - Chargé d'affaires Embassy of Switzerland in Vietnam The demand for the MILO drink, which is produced here, has been such that this factory had to double production capacity just to keep up. That is good news for Nestlé and for all those who crave malt-based drinks. I can certainly understand this very success. When I grew up in Switzerland, these beverages were very popular and we firmly believed in their performance-enhancing qualities ahead of school examinations and sports events. Vietnam has great potential, both as a business location and as a market for consumer products and services, as well as for investment goods. A few companies, including of course Nestlé, have been here for quite some time already. Today, more and more Swiss companies are coming to Vietnam. Some bring their products and services to Vietnam, while others set up operations to serve customers here and all around the world. About a hundred Swiss companies are already present in … [Read more...] about Enriching Vietnam with Nestlé values