Investment

  The cyber-physical learning factory of Festo. Photo courtesy of the company HCM CITY — Festo, a German supplier of automation technology and technical education, plans to expand investment in Việt Nam to take advantage of the increasing foreign investment and production in the country. Ansgar Kriwet, member of the management board of Festo, said Việt Nam has the fastest growing economy in Southeast Asia with a growth rate of 6.5 per cent. Manufacturing is its strongest sector and accounts for more than 50 per cent of FDI, he said. As Asia’s new manufacturing hub, Việt Nam requires strong support from motion automation, he said. Putting industry 4.0 into action means both intensively investigating new technologies and preparing employees for the challenges of future production, he added. Festo’s cyber-physical systems encompass the new developments of networked production in industry 4.0 and offer a modular smart factory system … [Read more...] about Germany automation firm Festo to expand investment in Việt Nam

At the 26th Vietnam International Medical, Hospital and Pharmaceutical Exhibition (Photo: VietnamPlus) Hanoi (VNA) - The 26th Vietnam International Medical, Hospital and Pharmaceutical Exhibition (Vietnam Medipharm Expo) opened in Hanoi on December 5, attracting 180 exhibitors from 18 countries and territories. Among firms participating are those from Belarus, Germany, Russia, the Czech Republic, Spain, Turkey, Ukraine, the United States, the Republic of Korea, Japan, China, India, Poland, Malaysia and Pakistan. The exhibitors showcase advanced medical equipment, pharmaceuticals, and various beauty care products at 220 booths. Nguyen Dinh Anh from the Health Ministry said the exhibition is an opportunity for domestic and foreign pharmaceuticals businesses to meet and share learn, helping attract investment in Vietnam as well as a chance for domestic firms to seek partners and expand their markets. Within the framework of the event, many seminars and business matching events … [Read more...] about Vietnam Medipharm Expo opens in Hanoi

Vung Ro Petroleum still keeps the dream about another refinery project in Phu Yen Recently, the Phu Yen People’s Committee asked the Phu Yen Economic Zone Management Board in collaboration with the province’s Department of Planning and Investment to consider revoking the Vung Ro project invested by VRP. The movement started from the investor’s decision to return the investment certificate to the authorities after 10 years of receiving it. The revocation of $3.2 billion Vung Ro has yet to put an end for VRP’s ambition to develop a refinery project in Phu Yen province. In 2007, VRP was granted the investment certificate for Vung Ro refinery and petrochemical complex with the initial capital of $1.7 billion. After numerous adjustments to the investment plan, the investment capital increased to $3.2 billion with the annual capacity of eight million tonnes of crude oil, doubling the initial capacity. In 2014, VRP held the ground-breaking ceremony for the … [Read more...] about Vung Ro Petroleum still dreams about a refinery in Phu Yen

$3.2 billion Vung Ro Refinery and petrochemical complex The Phu Yen People’s Committee has asked the Management Board of Phu Yen Economic Zone in collaboration with the province’s Department of Planning and Investment to consider the decision to revoke the project invested by Vung Ro Petroleum Company Limited (VRP), the developer of the Vung Ro project. The Vung Ro project was granted an investment certificate in 2008, with a total investment capital sum of nearly $3.2 billion and annual capacity of eight million tonnes of crude oil. The refinery is going to be constructed on an area of 538 hectares. Of the total, 404ha will be used for the construction of the refinery, and 134ha, excluding the areas of sea encroachment, will be used for the construction of Bai Goc Seaport. Besides, this project is allowed to use 500-1,300ha of sea surface area. In 2014, VRP held the ground-breaking ceremony for the refinery. The complex was slated to start commercial operations by 2016 … [Read more...] about $3.2 billion Vung Ro refinery and petrochemical complex revoked

At the launching ceremony for the initiative to provide one million white canes for the blind and visually-impaired people in Vietnam (Photo: baodautu.vn) Hanoi (VNA) - The Ministry of Planning and Investment (MPI) on December 5 launched an initiative aiming to provide one million white canes for the blind and visually-impaired people in Vietnam. Priority will be given to the most vulnerable groups among the blind, said MPI Minister Nguyen Chi Dung at the launch ceremony in Hanoi. He added that the white canes will be provided to the blind along with instructions on how to use the device safely to support their mobility. Communication campaigns will also be held to raise public awareness. National Assembly Vice Chairwoman Tong Thi Phong said the programme is among various measures taken by the Vietnamese government so that no one is left behind in the process of social development. Minister Dung said his ministry will incorporate the desires and wishes of people with … [Read more...] about Vietnam introduces white cane programme to support blind people