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Foxconn unit receives business license for $270 mln Vietnam plant
The FuKang Technology Company, a Foxconn unit, received a business license Monday to build a plant to produce laptops and tablets in northern Vietnam. The plant will be located in the Quang Chau Industrial Park in the northern province of Bac Giang and will annually produce eight million units, the government said in a statement on its website.
Vietnam a global bright spot in electronics production
Vietnam stands to benefit from its emergence as a global bright spot in electronics production with some index scores exceeding China and India. Experts attribute this to lower labor costs and better policy incentives.
A peek into Hanoi’s 2nd metro line
Hanoi’s second metro line tested its first train on Friday to prepare for commercial operations scheduled to start at the end of this year.
Saigon underground metro station nears completion
Ba Son Station hugs Ton Duc Thang Street near the Saigon River in District 1. It spans 34 meters and is 17 meters underground. It includes a first-level ticket lounge and second-level train platform. The station is near 84 percent complete. Tracks have been installed on the section from Ba Son Station to the Opera House Station.
Vietnam becomes 6th largest trading partner for China
Vietnam's trade with China rose by 14 percent last year to $133.09 billion, making it the latter's sixth largest trading partner. Its exports to China grew by 18 percent to $48.9 billion, and imports by 12 percent to $84.1 billion, according to the Ministry of Industry and Trade.
Steel giant targets 30 pct growth in profits
Hoa Sen Group has announced it targets 30 percent growth in post-tax profits this year to VND1.5 trillion ($65.2 million). It aims to increase revenues by 20 percent to VND33 trillion and steel production by 11 percent to 1.8 million tons.
Vietnam to grow at 7.8 pct in 2021: Standard Chartered
Standard Chartered Bank has forecast Vietnam’s economy will grow at 7.8 percent this year with manufacturing driving the revival. Tim Leelahaphan, an economist at Standard Chartered Bank, said Vietnam’s economy has been reviving since the third quarter last year.
Government reduces taxes on car parts to support domestic automotive industry
According to Mr. Luu Manh Tuong, Deputy Director of the General Department of Vietnam Customs, to support the domestic automobile industry to replace imported automobiles and step by step head to export, the Government has had preferential policies for automobile manufacturers that meet the conditions on production and assembly.
Vietnam trade surplus hits new record of US$18.72 billion in 10-month
Overall, Vietnam's trade turnover is likely to reach US$439.82 billion in the January – October period, a slight increase from the US$428.63 billion recorded in the same period last year. Of the total, exports could amount to US$229.27 billion, up 4.7% year-on-year, and imports are estimated at US$210.55 billion, up 0.4%.
Apple’s shifting supply chain creates boomtowns in rural Vietnam: Bloomberg
Not long ago Vietnam’s Bac Giang province was one of the nation’s poorest regions, known for producing rice, lychees and poultry dubbed “running chicken." That was before the global tech supply chain shifted its way.
Vietnam's factory activity continues recovering
The Vietnam Manufacturing Purchasing Managers' Index (PMI) posted 51.8 in October, down marginally from 52.2 in September, but still signaling an improvement in the health of the sector as business conditions have now strengthened in two successive months, according to Nikkei and IHS Markit.
Vietnam boosting economic ties with the US, Japan and Australia
Vietnam hopes to make economic cooperation truly an important driver for its relations with Japan, the US, and Australia, Head of the Party Central Committee’s Economic Commission Nguyen Van Binh said on October 30.
Ten-month FDI attraction of Vietnam reaches over US$23 billion
As of October 20, the total foreign direct investment (FDI) into Vietnam reached US$23.48 billion, equivalent to 80.6% year-on-year, according to a report released by the Ministry of Planning and Investment.
VIETNAM MULLS MEASURES TO BOOST ELECTRONICS SUPPORT INDUSTRIES
Vietnam has become an attractive market to foreign investors in the field of electronic component manufacturing.
A number of local firms in supporting industries have been receiving more orders from foreign partners due to the coronavirus outbreak disrupting supply chains in China.
Augmented Reality has been around for a while but it’s about to take off in a big way according to IDC.
The manufacturing and processing industry drove economic growth in 2019 with production volume increasing 11.29 percent over the previous year, according to the General Statistics Office (GSO).
In the past week, news outlets quietly announced Apple’s settlement of a class-action lawsuit over 2017’s ‘Batterygate’. The lawsuit was filed when Apple’s software updates resulted in the throttling of iPhones with older batteries, in effect slowing down older models, leading users to believe that they needed to replace their phones.
Looking at the potential, there can be more burdens placed on asset infrastructure owners and product manufacturers toward end-of-life management, so making early considerations in the design and planning phase will become a more critical aspect of engineering.
Local authorities in Bin Dinh province on February 18 approved the construction of an industrial zone (IZ). The industrial zone will be known as the Becamex Binh Dinh Industrial Zone Project
Apple’s recent reported difficulties establishing a supply chain in India show just how hard it is for companies to reduce their dependence on China at a time when the COVID-19 contagion and the U.S.-China trade war have made supplier diversification an important strategic question.
Nano-engineered materials, nanomaterials can be designed to offer enhanced properties containing biochemical sensitivity, selective transport, strength, electrical or thermal conductivity, optical properties, and others.
GM has developed the Ultium battery system to be flexible for a range of applications with sizes ranging from 50 to 200-kWh. Smaller batteries for lower cost vehicles will be arranged with a 400V architecture and support for up to 200-kW DC fast charging.
Both the immediate and long-term future of the manufacturing industry will be defined by the development of several ever-evolving and cutting-edge trends and technologies. Many of these trends and technologies are poised to have a significant impact in 2020 and beyond, so it’s critically important for manufacturers to develop a keen understanding of what they are, how they will grow over time, and how they will impact those within the industry – both this year and in the future.
The current cornavirus outbreak and last year’s US-China trade war have made many foreign investors in China look at moving their sourcing and manufacturing in the country to other locations. There can be many reasons – new concerns of the disease affecting production, the impact of tariffs, as well as the increasingly expensive Chinese labor market and overall costs of doing business. While we do not expect any wholesale exodus from China, we understand that businesses quite naturally evolve. After all, we are one of them.
In the first nine months of this year, U.S. imports from Vietnam jumped 34.8% year-on-year, according to consultancy IHS Markit. In comparison, U.S. imports from mainland China shrank 13.4% during the same period. That increase in exports to the U.S. has made Vietnam one the largest beneficiaries of the trade war. Vietnam’s fastest growing export categories to the U.S. are computers, telephone equipment and other machinery.
HANOI – Over the past two years, South Korean tech giant Samsung has trained 207 Vietnamese consultants and advised 40 local firms that wanted to enhance their production activities, to boost the country’s supporting industries.
From 2 - 5/7/2019, TRUMPF Vietnam participated in MTA Vietnam Exhibition 2019 at Saigon Exhibition and Convention Center (SECC).
Asanzo Vietnam to be inspected following reports on product origin
Asanzo Vietnam Electronics JSC has reportedly been selling finished products imported from China labelled as “Made in Vietnam” goods, which has stirred public concern over whether buyers and consumers are being cheated.
Toyoda to build airbag plant in VN
Toyoda Gosei Co., Ltd. on Wednesday released plans on its website to establish a new plant for producing airbag parts in the northern province of Thái Bình, Việt Nam.
Local, foreign firms: divided they stand
According to a survey by the Việt Nam Chamber of Commerce and Industry last year, only 14 per cent of private Vietnamese businesses had foreign-owned businesses as clients.
Regional countries agree on safe labour migration
ĐÀ NẴNG — Ministers of labour from Cambodia, Laos, Myanmar, Thailand and Việt Nam (CLMTV) –agreed to improve their migration management system and share responsibilities in contributing to safe labour migration.
Vietnam promises incentives to Koreans
Investors from the Republic of Korea (RoK) involved in the electronics industry in Vietnam will receive many incentives as part of the Government’s growing focus on the field for national industrial development, officials announced at a conference held in Seoul on June 8.
HSBC: Growth in operating conditions in manufacturing sector ongoing
Operating conditions in the manufacturing sector - Vietnam’s bedrock - point to ongoing growth, with output, employment, and new orders - both overall and overseas - continuing to expand, according to HSBC’s Vietnam at a Glance report for March to May released on June 13.
HCM City’s industrial production rises in first half
HCM City’s industrial production index experienced a year-on-year increase of 7.5 per cent in the first half of this year, the highest level recorded in the past five years.
Ministry's initiative: to make cars not yet manufactured in regional market
The Ministry of Industry and Trade (MOIT) has proposed an original idea – manufacturing car models that other regional production bases do not make.
Ministry mulls new taxes for auto industry protection
The Ministry of Industry and Trade is mapping out a new strategy for the auto industry, with highlights including an exemption of special consumption tax for local content of autos, and raising tax rates on pickups to levels now applicable to sedans.
Green light turned on for private economic groups
In the last 10 years, Vietnam has seen the establishment of private joint stock companies operating in many different business fields.
EU trade agreement promotes changes at industrial parks
The EU-Vietnam Free Trade Agreement (EVFTA) will help Vietnam become the regional hub of many foreign manufacturing companies, boosting the development of industrial zones in the country, Mr. Gellert Horvath, Vice Chairman of the European Chamber of Commerce (Eurocham) told a conference held by Vietnam-Singapore Industrial Park (VSIP) on May 11 with the theme “Unlocking the Potential of a New Model of Living and Manufacturing in the North”.