[Apr 03 - 14, 2019] Vietnam Weekly Industrial & Logistics Highlight
Vietnam to benefit from industrial expansion
Vietnam and Indonesia are standing to benefit the most in Southeast Asia from expanded industrial projects. The shift of manufacturing bases away from markets like China, coupled with the rapid rise of domestic consumption means the Vietnamese industrial real estate market is in the ‘early innings’ and at an inflection point for outsized growth,” said Jeffrey Perlman, head of Southeast Asia at Warburg Pincus.
Binh Duong sees high growth in industrial production in Q1
The southern province of Binh Duong recorded 7.16 percent year-on-year growth on the industrial production index in the first quarter of 2019, High growth was seen in a number of sectors including leather and leather products (7.51 percent), chemicals and pharmaceuticals (15.17 percent), and rubber and plastic products (9.36 percent).
Garment, textile industry expected to lure much foreign investment this year
Vietnam’s garment and textile exports exceeded US$36 billion last year and were expected to top $40 billion this year. Globally, the country has been showing a great impact on garment and textile supply chain for being the world’s second largest textile and apparel exporter. The China National Textile and Apparel Council said that Vietnam has passed Malaysia, Thailand and the Philippines to become the biggest trade partner of China. Last year, export of garment and textile products of Vietnam to China reached $4.1 billion and China’s export turnover was $6.5 billion vice versa.
Japanese initiative switch increases investments in Vietnam
The Vietnamese market will remain attractive to Japanese investors in 2019. Japan was the largest investor in Vietnam last year with registered capital of nearly US$8 billion. Japanese investment in Vietnam is expected to grow this year, given Japans recent initiative to shift investment to Vietnam and other Mekong River nations, as well as free trade agreements (FTA), experts said.
Q1/2019: over 28,000 firms established, highest in five years
Over 28,000 new enterprises were established in quarter 1, marking the highest number in 5 years. The record number of newly-established firms proves the improvements in business environment in Vietnam.
Binh Duong enjoys nearly 1.8 billion USD trade surplus in three months
The southern province of Binh Duong enjoyed a trade surplus of nearly 1.8 billion USD in the first quarter of this year, said Nguyen Van Danh, Director of the provincial Department of Industry and Trade.
The Haiphong International Container Terminal services first vessel on North Vietnam-North America rotation
The Haiphong International Container Terminal (HICT) on April 11 welcomed the maiden call of mother vessel Northern Jaguar. Northern Jaguar is one of the large vessels operated by the Alliance of Hapag Lloyd, Ocean Network Express, and Yang Ming Line on Trans-Pacific route with regular call at HICT, which provides direct service from the North of Vietnam to the West coast of the USA and Canada.
French firm to build logistics centre
French logistics and transport company FM Logistic will build the centre which is expected to open phase one next year. The ground has been broken for a US$30 million warehouse and distribution centre in the northern province of Bac Ninh.
Siemens helps Vietnam build smart infrastructure
Germany’s Siemens AG will help Vietnam build smart infrastructure for sustainable development under a framework agreement on industry and energy cooperation signed between the two sides in Berlin on April 9.
BW Industrial Development JSC
The leading for-rent industrial real estate platform in Vietnam.
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22-01-2019Binh Duong awaits new investment inflow