[Oct 08 - 15 , 2019] Vietnam Weekly Industrial & Logistics Highlight
The largest sorting center in Vietnam by 2020
BEST Inc. cooperates with BW to build a 4.5ha sorting center with the most advanced technology available at BEST Inc. The sorting center is expected to come into operation by April 2020 and will be the largest automatic sorting center in Vietnam.
World’s largest zipper YKK starts the second plant in Vietnam
YKK Vietnam Co., YKK’s local arm, established the plant in Dong Van III Industrial Zone in the northern province of Ha Nam, some 40km south of Hanoi, with the total investment of $59.9 million. The second plant began operating on October 1 with an expanded scale.
An industrial factory manufacturing mechanical products, machinery, and spare parts was inaugurated at Phu Vinh Industrial Park inside Vung Ang Economic Zone in the central province of Ha Tinh on Sunday.
Thua Thien Hue approves new automotive manufacturing complex
Earlier this year, the central province also approved Kim Long Nam JSC to develop an auto manufacturing and assembly complex in this economic zone. The Kim Long Motors Hue complex spans approximately 160ha, with its first phase costing some $143.72 million.
The new industrial factory will begin operations in January 2021, covering 24,000 of the total 50,000 square meters of land gathered for future growth. Vietnam is considered a key market for Panasonic. Therefore, Panasonic Corporation will be investing over $45 million in Panasonic Life Solutions Vietnam’s second factory.
Nearly VND7 trillion (US$300.8 million) will be invested on building two international container terminals in the northern city of Hai Phong’s Lach Huyen Port next year.
Hong Kong (China) topped 109 countries and territories investing in Vietnam in the first nine months of this year with total capital of $5.89 billion, reported the General Statistics Office (GSO).
While Vietnam’s economic growth is expected to ease to 6.7% in 2019, it is set to outperform the rest of Southeast Asia and remain the fastest growing economy in the region.
Vietnam’s industrial production in the first nine months of this year rose by 9.6 percent year on year, a four-year record, according to the General Statistics Office (GSO).
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