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Tata Group investigates different angles in Vietnam

Updated: 19/01/2017

India’s Tata Group announced plans to expand into Vietnam in a wide range of business sectors, focusing on energy, coffee processing, and agricultural machinery.

Indronil Sengupta, executive director of Tata Group in Vietnam, confirmed in a meeting last week with President Tran Dai Quang that the group’s expansion plan will target solar and wind power projects,...Read More


World Bank: Vietnam’s mid-term outlook favourable

Updated: 05/12/2016

Hanoi (VNA) – Vietnam’s medium-term outlook remains favourable with GDP expected to expand by 6 percent this year, according to the World Bank (WB)’s Taking Stock report.

The WB said, despite a fragile global environment, Vietnam’s economy remains resilient, thanks to robust domestic demand and export-oriented manufacturing...Read More


Vietnam expects GDP growth rate at 7.1-7.3 percent in Q4

Updated: 02/12/2016

Hanoi (VNA) – Vietnam’s economy will continue the recovery trend with a GDP growth rate forecast at 7.1-7.3 percent in the fourth quarter of 2016, according to the General Statistics Office (GSO).

Accordingly, the economy is set to remain attractive to FDI and enjoy an increase in exports. A big portion of overseas remittances will be poured into economic activities while there will be a surge in the number of new businesses...Read More


Car sales up in January-October period

Updated: 10/11/2016

Hanoi (VNA) – Automobiles sales in the first ten months of 2016 increased 30 percent to 242,681 units compared to the same period last year, announced the Vietnam Automobile Manufacturers’ Association on November 9.

In the period, sales of passenger cars soared 30 percent, while that of commercial vehicles went up 29 percent, and special purpose vehicles, 40 percent...Read More


Fierce competition for plastics sector

Updated: 04/11/2016

Plastic firms in Việt Nam face fierce competition and risk being acquired by foreign companies, experts said Wednesday at a conference in HCM City.

Phạm Văn Bắc, deputy head of the construction ministry’s department of building materials, said the plastic industry had the potential to grow as plastic consumption in the country is still low, even as he acknowledged the challenges the sector faces...Read More


September’s automobile sales surge 13 percent

Updated: 10/10/2016

Hanoi (VNA) - Vietnam’s automobile sales in September shot up 13 percent to 26,551 units against the previous month, according to the Vietnam Automobile Manufacturers Association (VAMA).

During the month, the number of passenger cars sold increased 9 percent to 16,327 vehicles, commercial vehicle sales rose 21 percent to 9,117 units and special-purpose cars sales up 15 percent to 1,107 units...Read More


German investors shift attention to Vietnam

Updated: 04/10/2016

Hanoi (VNA) – German businesses are seeking new investment opportunities in Vietnam, an entrepreneur told reporters from Dau tu (Investment) newspaper.

The newspaper quoted Marko Walde, chief representative of German Industry and Commerce Vietnam (GIC/AHK Vietnam) as saying that German firms noticed the increasing attractiveness of Vietnam thanks to the establishment of the ASEAN Community...Read More


Japan’s industrial machine factory inaugurated in Ha Nam

Updated: 30/09/2016

The Japanese-funded Meitoku Engineering Viet Nam Co., Ltd., on Septerber 28 inaugurated its industrial machinery manufacturing and assembly factory, located at the Dong Van II Industrial Zone in the northern province of Ha Nam.

General Director Tokunaga Mikie of Meitoku Engineering said this is the first overseas factory of Meitoku Engineering,...Read More


Thaco makes big investment in bus project

Updated: 22/09/2016

Hanoi (VNA) – Truong Hai Auto Corporation (Thaco) plans to inject more than 2.1 trillion VND (94.5 million USD) into a project to produce buses with European emission standards for both domestic use and export to other markets in ASEAN.

The project, to be carried out with cooperation from the Republic of Korea (RoK)’s Hyundai Group, will have a design capacity of about 20,000 buses annually....Read More


Investors remain optimistic about Vietnam’s economy

Updated: 01/09/2016

Hanoi (VNA) – Domestic and foreign investors are still keen on the Vietnamese market and have positive outlook about the country’s economy, according to a survey conducted by Grant Thornton Vietnam in the third quarter of 2016.

While there is a slight decrease of 6 percent from the previous survey, still 55 percent of respondents...Read More


Vietnamese group to build $10 bln steel plant on south coast

Updated: 29/08/2016

The plant’s capacity is double the size of Taiwan’s Formosa steel factory.

The Ministry of Industry and Trade has given permission for Hoa Sen Group, Vietnam’s largest sheet steel producer, to build a $10-billion plant in the southern coastal province of Ninh Thuan....Read More


Industrial zones getting hot again

Updated: 25/08/2016

VietNamNet Bridge – Investors have poured money into industrial zone (IZ) projects again and many large-scale projects will be completed in the time to come.

Thai Amata Corporation has announced an investment project capitalized at $800 million in Dong Nai province, under which 40 percent of area will be reserved....Read More


Deputy PM Hue encourages increased automotive localisation rate

Updated: 10/08/2016

Reporting to the deputy PM, Chairman of Managing Board and General Director Tran Ba Duong of Truong Hai said that this year the company aims to generate an output of more than 112,000 vehicles, collecting a revenue of about US$3 billion and contributing more than VND20 trillion to the State budget.

Established in 1997, Truong Hai has expanded its operations in recent years, focusing on technology transfer and investment in spare parts to increasing the localisation rate of its products. Currently, the localisation rates of Truong Hai made products are at 60% for buses and 42% for trucks....Read More


Toyota, Honda making big bucks in Vietnam

Updated: 04/08/2016

Japanese automobile makers Toyota and Honda earned VND trillions in profit in Vietnam over the past four years.

Numbers collected from Vietnam Engine and Agricultural Machinery Corporation (VEAM), a joint venture associate of Honda and Toyota, showed that the two companies saw year-on-year growth in revenue and profit in the 2012-2015 period...Read More


German group invests $50 million in Danang component factory

Updated: 30/06/2016

Germany’s Marquardt Group plans to develop an automotive component production factory with the initial investment capital between $35 and $50 million in the central province of Danang.

Although the group has yet to build a specific plan for the project, the construction is expected to be finished within two or three years...Read More


Local plastics firms hope to edge out market rivals

Updated: 01/06/2016

Vietnamese plastics firms have upped their game in the face of foreign competition.

In addition to leading plastic firms like Tien Phong Plastics JSC and Binh Minh Plastics JSC, a large number of domestic firms are actively seeking a larger slice of the plastic market. The entrance of new brands...Read More


Vietnam’s plastic sector eyes alternatives

Updated: 28/04/2016

HCM City (VNA) - The Vietnam Saigon Plastic Association will focus on research to develop renewable raw materials replacing fossil-based materials for making plastics in the 2016-20 period, its president has said.

Speaking at the association’s congress held in HCM City on April 27 to review its performance in the 2011-15 period...Read More


TMT inaugurates truck production line in Hung Yen

Updated: 01/03/2016

Hung Yen (VNA) – The TMT Motor Joint Stock Company inaugurated a truck production line with an annual capacity of 20,000 units in the northern province of Hung Yen on February 29.

The company also signed an agreement with the Chinese Sinotruck Group on manufacturing, assembling and distributing trucks and passenger buses...Read More


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