[Nov 05 - 21, 2019] Vietnam Weekly Industrial & Logistics Highlight
Becamex IDC industrial park plans gather pace
Becamex IDC Corporation, the leading group in the southern province of Binh Duong, is continuing its work towards establishing both a sci-tech industrial park (STIP) and a special railway, which will provide the foundations for developing the province into a smart city with increased labor capacity and more added value.
ZF opens the first plant producing chassis modules for cars in Vietnam
Germany’s ZF Friedrichshafen, a global technology company, invested more than 25 million euro in its first industrial factory in Hai Phong City. Located in the 70-ha Supplier Park of VinFast Manufacturing Automobile and E-scooter Plant on Cat Hai Island, the plant produces chassis modules just-in-time for a local automotive manufacturer.
Japanese auto parts maker Toyoda Gosei Co has announced it would invest an additional 1.8 billion yen (US$16.8 million) to build a new airbag factory in Thai Binh Province to increase production capacity in Vietnam factory to meet rising global demand.
Giants of South Korea Hanwha Aero Engines make an immediate impact
After a year of operations at a $200 million factory in Hanoi’s Hoa Lac Hi-Tech Park to produce airplane engine parts and components, world-leading tech and energy group Hanwha Aero Engines is planning to further invest in Vietnam, raising total investment to $260 million by 2021.
Indian tech giant Hindustan Computers Limited eyes Hung Yen
Hindustan Computers Limited (HCL) has confirmed their intention to invest in Vietnam with a mega project in the northern province of Hung Yen. The company was reportedly looking for a location to build a multi-purpose facility that can accommodate 5,000-10,000 IT engineers in the future.
Vietnam is Hong Kong businesses' top pick for setting up factories
Seventy-three percent of businesses from Hong Kong (China) expressed their intention to open additional factories in ASEAN countries, with Vietnam factory coming out on top as their first pick, according to a recent survey conducted by the Hong Kong Productivity Council (HKPC).
Singaporean e-logistics groups making waves
Singaporean investors are continuing to pour capital into e-logistics firms to tap into the fast-growing market in Vietnam.
Southeast Asia, including Vietnam, is a gold mine in the eyes of international marketplaces such as Alibaba and Amazon and international logistics companies such as DHL and BEST.
Textile and garments likely to hit 40 billion USD in exports this year
“The domestic market is expected to earn 9 billion USD this year, so it's a massive sector. Besides, top global brands have already invested here, and Japan's Uniqlo will be arriving in 2020,” Cao Huu Hieu, managing director of the Vietnam National Garment and Textile Group (Vinatex) said.
Binh Duong surpassing FDI attraction targets
In the 2016-2020 period, the province has set a goal of attracting $7 billion in foreign direct investment. However, by this September over $9.7 billion had been attained.
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