The Hanoitimes - The government’s plans to improve the quality of FDI inflows have brought initial results with more foreign investors targeting to set up high-tech projects in the country. During a recent working session with authorities of southern Binh Duong province, Executive Managing Officer of Sharp Corporation Yoshihiro Hashimoto mentioned a plan to build a factory worth nearly US$2 billion to manufacture high-tech camera modules and smart phone screens in the province. Hoa Lac Hi-Tech Park sets to lure some US$1 billion of investment capital in 2018 In the first stage, Sharp plans to spend roughly US$300 million, about US$200 million of which will be for machinery and equipment. The location of the plant is under discussion. Le Hoai Quoc, head of the Saigon High-Tech Park (SHTP) management board, said many Japanese-invested projects will be licensed in the near future, notably a US$250 million investment in a complex featuring a high-tech hospital and a … [Read more...] about Foreign investors gear capital to high-tech industries in Vietnam
Licensed aircraft engineers
Vietnam Airlines pilots licenses suspended after landing on wrong runway
The Civil Aviation Administration has temporarily suspended the Vietnam Airlines pilots' license after the crew made a mistake and landed on an unopened runway in late April. Vietnam Airlines' plane landed on an unopened runway Both the American pilot and Vietnamese co-pilot are suspended indefinitely. Vietnam Airlines said they had also suspended the pilot and co-pilot for two months and will have suitable punishments for the pilots and others involved after reviewing the investigation results from the Civil Aviation Administration of Vietnam (CAAV). Since the aircraft was bought from France, the BEA French accident investigation bureau will also participate in the investigation in accordance with the Chicago Convention on International Civil Aviation. According to the CAAV, the flight crew made the mistake. About 15 minutes before landing, the autopilot was turned off for a manual landing. Because the plane was opposite of the sun, the pilot's vision was affected. … [Read more...] about Vietnam Airlines pilots licenses suspended after landing on wrong runway
Ministries clash over Vietstar Airlines business licence
The Ministry of Finance said that Vietstar Airlines has not yet met the capital requirement to get a licence for providing passenger and goods transport services. In a letter to the government, the Ministry of Finance said that under the current law, the minimum capital required for the establishment of an airline operating ten aircraft and international transport services is VND700 billion (USD33.3 million), while to date, Vietstar Airlines’ capital is only VND652.7 billion. The company also needed to provide an bank account balance confirmation of the capital. For capital based on assets, there must be a confirmation by valuation organisations. Vietstar Airlines currently only has capital confirmation granted by the HCM City Department of Planning and Investment, which is not sufficient. The Ministry of Finance has urged the Ministry of Transport to strictly conform to the regulation when considering Vietstar Airlines’ licensing procedures. Earlier, in March this … [Read more...] about Ministries clash over Vietstar Airlines business licence
Hoa Lac Hi-tech Park welcomes new investors
Investment attraction As of late 2017, the Hoa Lac Hi-tech Park had 81 valid investment projects, with total registered capital of over VND66 trillion, on an area of 358ha. The high-tech park granted investment registration certificates for three projects in 2017 with total investment capital of more than VND5 trillion. One of the three certificates was granted to the Republic of Korea’s Hanwa Techwin Limited Company, which has invested to build the Hanwha Aero Engines Factory with total registered capital of VND4.53 trillion to produce components of aircraft engines. The factory is expected to start operation in April 2018. During the visit of Vietnamese Prime Minister Nguyen Xuan Phuc to Japan in 2017, the Hoa Lac Hi-tech Park Management Board negotiated with the NIDEC Group and is accelerating to grant investment licenses to this group, which decided to pour VND400 million into the first phase of its two projects in Vietnam. The Hoa Lac Hi-tech Park Management … [Read more...] about Hoa Lac Hi-tech Park welcomes new investors
Boeing says it will not deliver any aircraft to Iran
Boeing will not deliver aircraft to Iran in light of US sanctions, effectively aborting a pair of large contracts with Iranian carriers, a Boeing spokesman said Wednesday (Jun 6). Boeing says it will not deliver any aircraft to Iran, (AFP/Getty Images) "We have not delivered any aircraft to Iran, and given we no longer have a license to sell to Iran at this time, we will not be delivering any aircraft," the Boeing spokesman said. "We did not factor the Iran orders into our order backlog either." The announcement follows President Donald Trump's decision last month to pull the United States out of the landmark 2015 nuclear accord between Iran and major powers that had cleared the way for a relaxation of sanctions on Iran. Boeing had previously said it would respect US policy on Iran and had pushed back the delivery dates on the Iran planes without commenting directly on deliveries. Boeing and Airbus were among the companies to receive US Treasury licenses to begin conducting … [Read more...] about Boeing says it will not deliver any aircraft to Iran