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Intel plans another major investment into Vietnam

by hanoitimes.vn

The Hanoitimes – Thanks to the skilled workforce, the increasingly better production infrastructure and the favorable high-tech investment attraction policy, Intel continues to pour investment capital in Vietnam.

Apart from its largest chip assembly and testing plant worth more than US$1 billion in Ho Chi Minh City, US multinational technology corporation Intel plans to continue expanding its production in Vietnam.

Intel Products Vietnam. Photo: Dantri

The information, revealed by General Manager of Intel Products Vietnam (IPV) Kim Huat Ooi at the Ho Chi Minh City – US Business Summit on August 25, partly dispelled the skepticism of local insiders about the fate of Intel’s factory in Vietnam.

Earlier, Intel CEO Bob Swan shared his intention with industry analysts to quit the fabrication business altogether and outsource its designs to a competitor’s manufacturing facilities.

Starting with a factory in the Saigon Hi-tech Park (SHTP) in District 9 14 years ago, the US investor became the first high-tech company in Vietnam with total registered capital of US$1 billion.

Stretching an area of 46,000 square meters, Intel factory in SHTP becomes the largest among Intel’s inspection and assembly factories globally. Intel products labeled “Made in Vietnam” are shipped from IPV to many parts of the world.

The factory has produced two billion products as of March, and every second it can produce 25 units of semiconductor chips, computer processing chips, and devices. Intel factory in SHTP is creating jobs for about 5,000 skilled workers, Ooi said.

IPV has contributed an average value of more than US$ 3.6 billion per year to HCMC over the past 10 years. With another investment in Ho Chi Minh City in the coming time, the export revenue will increase further, Ooi stated at the summit.

The company’s manufacturing activities are quite favorable thanks to the skilled workforce, the increasingly better production infrastructure and the favorable high-tech investment attraction policy so that it can continue to pour investment capital. And the story of the Covid-19 pandemic is a very good example of overcoming challenges for success, Ooi added.

In Vietnam, Intel sees rapid action and sharp policies from the government on disease control, even during this second outbreak.

IPV operations in the second half of 2020 continue to be in full gear, production volume increases by 30% compared to the normal period and has contributed three quarters of Intel’s total chip test production volume worldwide, Ooi said.

In addition to Vietnam, Intel also has chip testing and assembly plants in Malaysia and China.

Referring to this outsourcing issue, a representative from IPV said that some local news sites and newspapers translated international news stories into Vietnamese in an incomplete and inaccurate manner.

At a meeting on July 23, CEO Swan only mentioned its outsourcing for the 7-nanometer chips to keep up with its commitment to customers and Intel still focuses resources on 10-nanometer technology to meet the demand of the global technology market in the context of the pandemic.

Intel Products Vietnam increases value of high-tech investment SHTP

by sggpnews.org.vn

The importance of IPV to Intel

Intel invested another $475 million in IPV – the single assembly and test plant with the largest cleanroom facility within Intel Assembly and Test (ATM) network based in SHTP . This is a new investment besides the $1-billion investment of Intel to build the most modern chip assembly and test plant at SHTP, first announced in 2006. Thus, the total investment of Intel at SHTP is now nearly $1.5 billion.

With this additional investment, IPV will increase the production of Intel’s 5G products, Intel Core processors with Intel Hybrid technology, and the 10th generation Intel Core processors. In November 2006, Intel announced a $1 billion investment to build a 47,000-square-meter cleanroom facility in SHTP. It is a project with strategic importance, associated with the establishment and development of SHTP in particular, and high technology in HCMC in general. It is also the largest US high-tech investment project in Vietnam.

Up to now, IPV is the largest manufacturing, assembly, and testing facility in the Intel Assembly and Testing network and one of the nine manufacturing facilities that Intel has globally. Since its operation in October 2010, IPV has created more than 5,000 jobs for high-skilled domestic workers in many fields. “In March 2020, IPV held a celebration marking the two-billionth product produced at IPV based in SHTP. We are very proud of this important milestone, which proves the importance of IPV along with Intel in meeting the needs of customers around the world. This is also the reason why we continue to invest in our facility and team in Vietnam,” said Kim Huat Ooi, Intel Corporation Manufacturing and Operations-Vice President cum Intel Products Vietnam-General Manager.

Contributing to the development of local technology ecosystems

The IPV plant is an important part of the production chain of Intel worldwide. Along with Intel’s transformation from a CPU to a multi-architecture XPU company, IPV will continue to diversify and improve its operations to adopt more complex technologies and new products, allowing Intel to take advantage of new market opportunities.

At the ceremony to grant the adjusted investment registration certificate – investment expansion phase 1, Mr. Nguyen Anh Thi, Head of the Management Board of the SHTP said that Intel’s investment capital increase had a significant meaning to Vietnam, HCMC in general, and SHTP in particular. Especially in the difficult context that due to the impact of the Covid-19 pandemic, most enterprises were seriously affected. This also showed the confidence of Intel in the domestic human resources, as well as the stable investment environment in Vietnam. SHTP would continue to create the best conditions for Intel’s operations and would like to welcome more US investors, who are planning to invest and expand investment in Vietnam.

Not only was the production value created, but the added-value from investment was also expanded. The number of suppliers of Intel has increased sharply, from 20 suppliers in 2010 to around 180 in 2020. Intel has contributed to Vietnam’s technology ecosystem in many ways, such as policy innovation, export value, job creation, and local supply chain systems. Particularly, Intel has developed a workforce with nearly 10,000 engineering teachers being trained and awarded thousands of scholarships. In Vietnam, Intel has also provided technical expertise and management to many localities, at the same time, help to expand business activities, and provide services to foreign direct investment customers in the same industry.

IPV started construction in 2006 and was put into operation in 2010. By the end of 2020, the total accumulated export value of IPV exceeded $50 billion. It has created nearly 7,000 jobs, of which, there are 2,700 Intel employees. IPV is one of the largest places to receive US high-tech investment in Vietnam.

By Ba Tan – Translated by Bao Nghi

Supply chain diversion increases tech giants’ interests in Vietnam: HSBC

by hanoitimes.vn

The Hanoitimes – The success of Samsung and Intel has led to other tech giants, such as Google and LG, shifting their supply chain to Vietnam.

Supply chain diversion has increased tech giants’ interests in Vietnam, a trend that may have been stalled but not stopped by Covid-19, according to HSBC’s report.

“Vietnam has emerged stronger from the pandemic, in part due to its bourgeoning electronics exports,” noted the bank, saying consistent FDI inflows in tech manufacturing helped Vietnam successfully transform into a key tech production base, gaining substantial market shares in phone and processor chip exports.

In 2020, electronics exports reached a record of US$96 billion, or 34% of its total exports. Yet, it was only less than US$1 billion in 2000, accounting for 5.5% of total exports.

Much of the tech success is thanks to Samsung’s multi-year FDI in Vietnam which started as early as late 2000s, turning Vietnam into its key production base. With investment over US$17 billion over the years, Samsung now has six plants in Vietnam, including two phone factories in the North, producing half of its smartphones and tablets.

“While China still dominates global phone exports, Vietnam has nonetheless increased its market share,” noted HSBC.

This is particularly evident in Vietnam’s January exports, growing 50.5% year-on-year. While this was in part due to Tết distortions, the primary driver of growth was booming smartphone exports (+115% year-on-year), given the recent release of Samsung’s flagship Galaxy S21.

Although Samsung had an earlier-than-usual release in 2021 (usually in March), the growth in smartphone was still strong after smoothing out the volatilities.

Meanwhile, Vietnam has also emerged as a rising supplier of processor/controller chips (though the ones assembled by Vietnam are relatively lower value chips used in a wide range of electronics products). While China produces 70% of computers globally, Vietnam’s rising production of finished computers has supported chip demand.

On the other hand, this is likely due to Intel’s US$1 billion investment in a chip assembly and testing facility in Vietnam since 2006. Just recently, Intel was reported to have injected another US$475 million from the final half of 2019 to manufacture its 5G products and core processors.

“The expansion may well explain why Vietnam’s processor exports tripled its share in 2019,” said HSBC.

The success of Samsung and Intel has led to other tech giants, such as Google and LG, shifting their supply chain to Vietnam. The trend intensified during the US-China trade tensions, which has benefited Vietnam not only in terms of booming trade, but also FDI diversion.

Even though the process was somewhat disrupted by the pandemic, increasing FDI interests have resumed as conditions improve, in particular with Apple-related production. Apple has been producing Airpods since May 2020, and is reported to start producing iPads as early as mid-2021.

Indeed, two Taiwanese Apple suppliers, Pegatron and Foxconn, both have announced huge investment plans to ramp up their production capacity in Vietnam. Also, two mainland Chinese Apple assemblers, Luxshare and Goertek, have increased recruitment and started to build a new production facility from late 2020, respectively.

Vietnam’s competitive FDI regime and sound macro fundamentals should continue to attract quality FDI, which is crucial in helping it move up the value chain. Its tech ambition is far from just being a low-end manufacturing hub, thus, more needs to be done to grasp the coming opportunities.

Challenges ahead

The first task is to improve labor productivity through better-quality education and vocational training. While labor availability to move to the more productive manufacturing sector is an opportunity, as over a third of its workforce still concentrates in agriculture, lack of productivity presents a challenge.

After all, a large proportion (33%) of workforce is still in “unskilled” occupation, as there remains a lack of qualified workers to advance to higher positions. Thus, measures like improving tertiary education and developing industry-specific training programs for technical workers are just some of the examples needed to better equip its human resources.

The other priority should be ongoing infrastructure push, stated HSBC.

Vietnam’s infrastructure spending has been consistently high, but its quality still lags behind other ASEAN economies, hindering its manufacturing potential.

As Public-Private Partnerships (PPP) is an ideal solution to balance Vietnam’s growing infrastructure needs and elevated public debt burdens, “it is indeed encouraging to see the authorities’ ongoing structural reforms in this direction,” stressed HSBC.

“The effective implementation of the revised PPP Law will be key to attracting private investors in these mega projects,” noted the bank.

New Fujitsu LIFEBOOK takes New Workstyle Productivity to the Next Level

by bizhub.vn

News facts:

  • New line-up to enable the new normal includes high-performance business notebooks with 11th Gen Intel® CoreTM vProTM Processor
  • Super-lightweight flagship LIFEBOOK U9 models weigh starting at 756g
  • Ultra-mobile premium LIFEBOOK U7 is up to 15% smaller and thinner than previous generation.

Hong Kong SAR – Media OutReach – 9 February, 2021 – Fujitsu today introduces upgraded LIFEBOOK commercial notebook designed in line with today’s working styles. The new FUJITSU Notebook LIFEBOOK U9, U7 and E5 series feature up to the 11th generation Intel® Core™ i7 vPro® processors and a host of all-round enhancements.

Super-lightweight design redefines no-compromise working

The new-generation Fujitsu LIFEBOOK U9311 is built to focus on the new normality for busy executives. With up to the 11th generation Intel® Core™ i7 vPro® processor and even smaller, more powerful, and lighter than before — weighing just from 756 grams — the new flagship model of LIFEBOOK range redefines no-compromise working. Also introducing the featherlight LIFEBOOK U9311X1 convertible, with the generous 13.3″ FHD touchscreen, AES pen with WACOM technology, rear camera and full set of interfaces, it is your best companion in remote workplace.

Real-world improvements match today’s working styles

Available in a range of popular sizes2, the LIFEBOOK U7 introduces a near-frameless display3 on 14″ and 15.6″ models. They are thinner and up to 15% smaller than previous generation. This slimline look, combined with a warm silver color, gives the new models a strong visual presence. The LIFEBOOKs are good lookers in a near-frameless screen design and Intel® IRIS® Xe graphics that gives stunning graphics with an immersive experience for graphics-intensive applications.

Built for videoconferencing: A built-in HD camera can be closed with an ultra-tiny privacy camera shutter4, and an electronic ePrivacy filter narrows the readable angle of the screen5. It gives the best-ever audio for LIFEBOOK from the dual array microphone featured with noise cancellation technology.

Secure by design: New LIFEBOOK models integrate Windows Hello, while Fujitsu’s contactless PalmSecureTM biometric authentication provides the highest security and hygience standard. The series feature Intel® Hardware Shield, available exclusively on the Intel® vPro® platform, that provides comprehensive hardware-based security for business, including below-the-OS-security protection, application and data security protection, and advanced threat detection.

The best connectivity: The latest LIFEBOOK series offers best-in-class connectivity with full sized LAN, HDMI, USB-A and ThunderboltTM 4 ports for charging, speedy file transfer and connect to display in one cable. The new 65Wh four-cell battery6 brings superb battery performance which enables a full working day of cable-free runtime.

Powerful business platform — LIFEBOOK E5

Fujitsu also introduces the new generation LIFEBOOK E5 series, featuring robust chassis and all-round security functions including Fujitsu PalmSecureTM Sensor7, built-in smartcard reader7, discrete TPM7 and privacy camera shutter. Legacy features such as service door for convenient self-upgrade and full size interfaces will be continuously supported in this new generation.

Pricing and availability

Availability of the new LIFEBOOK varies across countries and region. Prices vary by country and configuration.

Notes

1 LIFEBOOK U9311X will be available in specific regions and countries only.

2 Three new advanced line models are available: LIFEBOOK U7311(13.3″) , U7411(14″); and U7511 (15.6″).

3 Available on LIFEBOOK U7411 and U7511.

4Available on LIFEBOOK U9311, U7 and E5 series.

5 Available on LIFEBOOK U7311 and U7411 (optional).

6 Available on LIFEBOOK U7411 and U7511.

7 Optional features.

www.fujitsu.com/lifebook-ap

Facebook: www.facebook.com/fujitsu.business

About Fujitsu

Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Approximately 130,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE:6702) reported consolidated revenues of 3.9 trillion yen (US$35 billion) for the fiscal year ended March 31, 2020. For more information, please see www.fujitsu.com.

All other company or product names mentioned herein are trademarks or registered trademarks of their respective owners. Information provided in this press release is accurate at time of publication and is subject to change without advance notice.

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These Vietnamese entrepreneurs are leaving foreign careers behind to invest back home

by tuoitrenews.vn

Hoping to transform Vietnam’s tech sector into a global leader in industry and trade, three successful Vietnamese engineers have returned home from lucrative jobs abroad to invest in the motherland.

Their projects are just three out of dozens of innovations being developed at the high-tech business incubator of the Saigon Hi-Tech Park in Thu Duc City, Ho Chi Minh City.

AI-powered toy: New friend for Vietnamese children

Tong Vu Than Dan’s AI children’s toy may look like an ordinary wooden playset at first glance, but the hi-tech car set actually provides the opportunity for kids to conquer various transportation scenarios using an AI-powered car.

Dan, 38, had been a mechanical engineer for several American companies, as well as a professional in Japan’s semiconductor industry, before returning to Vietnam to take up a position at Intel Products Vietnam.

Despite his success at the international level, Dan felt he needed to give back to his home country. He left his secure corporate job behind and embarked on a mission to elevate Vietnam’s AI industry.

According to Dan, the idea to create an AI-powered toy was inspired by his child’s addition to smartphones. Dan felt that creating an intersection between toys and technology was an opportunity to engage children without the need for a screen.

His invention, named Kodimo, is the result of that inspiration – a highly educational, modern update to typical wooden blocks that children can use to create roadways and other infrastructure designs.

After investing three years and billions of dong (VND1 billion = US$43,000) into Kodimo, Dan is finally beginning to see success, with two versions of the AI toy currently being trialed in the South Korean market. Each toy costs about VND5 million ($217) and can currently be found on various e-commerce sites.

Instructions and language programming for the toy are in English.

“The great thing about this toy is that it uses technology to promote imagination and creativity in a way that is very familiar to children. That is why I believe this project will be successful,” Dan explained.

Vietnamese product for Vietnamese market

Luong Vu Dang Quang presents laser devices to Nguyen Van Nen, secretary of the Ho Chi Minh City Party Committee, at a startup product launching event in Ho Chi Minh City. Photo: T. Trung / Tuoi Tre

Luong Vu Dang Quang (R) presents laser devices to Nguyen Van Nen (C), secretary of the Ho Chi Minh City Party Committee, at a startup product launch event in Ho Chi Minh City. Photo: T. Trung / Tuoi Tre

Luong Vu Dang Quang worked for a U.S. electronics company in Vietnam before serving as the head of R&D at a tech company in South Korea.

But even with his success, the 41-year-old felt the need to use his talent in order to bring Vietnamese-made products to the Vietnamese market.

Since leaving South Korea, Quang has founded Amed, a startup focused on optics and laser technologies for medical equipment.

After seven years of producing laser equipment for medical and beauty applications meant for other countries, Quang figured he had the skills to start his own company in the field in order to reduce his country’s reliance on expensive, foreign-made products.

“I can absolutely make the same products here in Vietnam at a much cheaper price,” Quang explained.

Despite his experience in the sphere, Quang faced many risks by choosing to launch his company in Vietnam. In South Korea, unlike in Vietnam, materials like circuits and screws are quality-ensured.

It took nearly all of his savings, but Quang is currently earning revenues with the sale of his first product – a ‘fractional carbon dioxide laser resurfacing device’ currently in use at 108 Military Central Hospital in Hanoi. He also exports other devices to the U.S. and South Korea.

Quang and his associates are currently conducting research on skin pigmentation treatment devices, hoping to create such products in Vietnam in order to reduce costs for customers in the country and other Southeast Asian markets.

An engineer on a mission

Le Trung Hieu sets up the Ewater filtration system with his associates at a factory in Vietnam. Photo: T.H.

Le Trung Hieu sets up the Ewater filtration system with his associates at a factory in Vietnam. Photo: T.H. / Tuoi Tre

Ahead of the North Korea–United States Hanoi Summit in 2019, engineer Le Trung Hieu was sent to Hanoi to carry out a special mission: installing a water filtration system he designed into Sofitel Legend Metropole Hanoi Hotel – the site of the historic meeting between the leaders of the two countries.

Ewater – Hieu’s device – was invented in 2016 as a means of treating water electromagnetic technology instead of chemicals.

Hieu has since applied technology to several areas, including steam boiler treatment, industrial water treatment, and agricultural water treatment.

He has so far installed more than 3,000 products in Vietnam and around the world, including at the Da Nang City Hall and Landmark 81 skyscraper in Ho Chi Minh City.

“A lot of people call me crazy when I gave up my high-paying job to launch my startup, but luckily my products were beloved by the community,” Hieu said.

“I’m really motivated to keep researching more porducts.”

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Deluge of foreign capital marks strong start to 2021

by vietnamnet.vn

The wave of high-tech companies investing billions of US dollars in Vietnam is already materialising, raising the question for the country on exactly how to absorb all the incoming capital.

Deluge of foreign capital marks strong start to 2021
Deluge of foreign capital marks strong start to 2021.

Intel Corporation, the US-based manufacturer of semiconductor computer circuits, last week announced injecting an additional $475 million into its plant in Vietnam, taking its total involvement in the country to $1.5 billion.

The new investment will develop complex technologies like manufacturing 5G products and the next generation of Intel Core processors.

Kim Huat Ooi, general manager of Intel Products Vietnam (IPV) said, “As of the end of 2020, IPV has shipped more than two billion units to customers worldwide. We are very proud of this milestone, which shows both how important IPV is to helping Intel meet the needs of its customers all around the world and why we continue to invest in our facilities and team here in Vietnam.”

The plant is IPV’s single largest assembly and test plant globally, with more than 2,700 employees as well as cutting-edge technologies and machinery.

Nguyen Anh Thi, head of the management board at Saigon Hi-Tech Park where the plant is located, highlighted that Intel’s decision to increase investment “indicates its confidence in the workforce and Vietnam’s reliable investment environment”.

Rise of high-tech giants

A number of electronics giants in Vietnam are expanding operations as they seek to diversify their supply chains. In the middle of January, Foxconn received an investment certificate to build a $270-million Fukang Technology plant in the northern province of Bac Giang’s Quang Chau Industrial Zone (IZ) to manufacture eight million laptops and tablets annually.

Foxconn Vietnam general director Harry Zhuo said as of December, the company had invested $1.5 billion in Vietnam, including $900 million in Bac Giang, creating 35,000 jobs. “The company is planning to inject an additional $700 million in 2021 and create a further 10,000 jobs,” added Zhuo.

In addition to Bac Giang, Foxconn is setting sights on the central provine of Thanh Hoa, and along with other tech giants such as Heesung Electronics, Goertek Technology, Mitac Computer, and Luxshare ICT Vietnam, Foxconn has met with Hanoi authorities to find investment opportunities related to high technologies thanks to favourable conditions like high-quality human resources and proximity to international airports.

Luxshare is also developing its second project in Bac Giang’s Van Trung IZ with a total investment sum of $190 million, and is expanding a project in the central province of Nghe An.

In another case, Chinese acoustic components company Goertek has just visited the northern province of Thai Nguyen to look for new prospects, with a factory manufacturing headsets, microphones, speakers, AirPods, and phone components for Samsung and Apple.

Meanwhile, Capital United, an investment advisor and real estate financial services firm from the United States, met Thai Nguyen provincial leaders and proposed to develop an industrial and technology centre on 900 hectares and the total investment of $390 million to set up a location for companies in IT, high-tech, light and clean industries, and logistics.

“US investors are always good at catching up on trends and seizing opportunities. They have surely seen something attractive and profitable here, along with the wave of technology companies arriving at Vietnam,” said Van Duc Phu, representative of the Foreign Investment Agency’s (FIA) Investment Promotion Centre for North Vietnam.

Retaining the wave

A recent report by the Economist Intelligence Unit has indicated that Vietnam has emerged as an attractive foreign direct investment (FDI) destination in Asia, beating China and India to become a new hub for low-cost manufacturing in Asian supply chains.

Indeed, over the last two years, the trend of technology companies entering Vietnam has been strong. Huge investors arriving in the country in the first wave such as Samsung and LG are now expanding their investment and facilities, not only for manufacturing lines and factories but also research and development centres.

Panasonic of Japan has also decided to end the production of washing machines and refrigerators in Thailand and move it to a consolidated appliance assembly facility in Vietnam.

In addition to Foxconn and Luxshare, Pegatron has invested $500 million in Haiphong city in the north to produce electronics components (motherboards, graphic cards, laptops, netbooks, cable modems, and smartphones); while Wistron has forked out $273 million in the northern province of Ha Nam to manufacture electronics devices as well as networking and communication products.

Besides these, numerous well-known high-tech investors were already present in Vietnam like Universal Global Technology (Taiwan) which has a facility in Haiphong. In Bac Giang, three projects have just received investment certificates – Ja Solar PV Vietnam (of Hong Kong’s Ja Solar Investment Ltd.), Risesun New Material Vietnam, and Vietnam Kodi New Material (by Singapore’s Risesun Investment Pte., Ltd.) with the combined investment of $300 million.

Such moves are always followed by billions of US dollars in projects by suppliers and supporting firms tagging along.

However, economist Tran Dinh Thien remains concerned. “Although Vietnam has prepared carefully, including policies, incentives, infrastructure, energy, land, and human resources, to welcome these investments, administrative procedures still need to be simplified, human resources improved, and infrastructure modernised,” said Thien.

The report from the Economist Intelligence Unit suggested that factors that place Vietnam above its peers are the available incentives for international investors to set up units to manufacture high-tech products, the pool of low-cost workers, and the proliferation of free trade agreements.

Vietnam has scored higher than both India and China in FDI-related policies, as well as higher than India in terms of their respective labour markets. The report also raises a bright outlook for Vietnam to offer generous arrangements for international corporations with incentives for investment.

Additionally, the FIA has been having discussions with Japan about a potential cooperation in training employees. This will significantly contribute to enhancing the quality of human resources, meeting more requirements of foreign investors, and improving the competitiveness of the country.

“The new investment from Intel is expected to encourage more Japanese investors and suppliers to Vietnam, and Vietnam is ready in all aspects to welcome both Japanese and all other investors, as well as absorb the investment as best as possible,” said Phu from the FIA.

As of January 20, total newly-registered capital, added capital, and capital contribution/share purchasing was $2.02 billion, equalling 37.8 per cent on-year. If excluding the $4-billion liquefied natural gas project in the Mekong Delta province of Bac Lieu registered in January 2020, the total investment this month will be 51.7 per cent higher than in the same month last year. This included 47 newly-registered projects (down 81.8 per cent on-year), with the total investment of over $1.3 billion (decreasing by 70.3 per cent on-year). Besides these, 46 projects (reducing by 40.3 per cent on-year) adjusted registered capital with the total value of $472.2 million (up 41.4 per cent). Additionally, there were 194 capital contribution and share purchasing (down 78.1 per cent on-year) with a total of $220.8 million (decreasing by 58.7 per cent).

Disbursement of foreign-invested projects in January 2021 was $1.51 billion, a rise of 4.1 per cent on-year.

Some major new moves in January involve China’s Radian tyre manufacturing project in the south-western province of Tay Ninh adding $312 million into registered investment; Singapore’s Kodi New Material Vietnam registering $270 million in Bac Giang province; China’s JA Solar PV Vietnam investing $210 million in Bac Giang; and Hong Kong’s Everwin Precision Vietnam pouring $200 million into Nghe An Province. (Source: Foreign Investment Agency)

Nguyen Huong (VIR)

Intel channels additional $475 million into Vietnam

Intel channels additional $475 million into Vietnam

Intel had poured an additional 475 million USD into Intel Products Vietnam (IPV), its single-largest assembly and test plant within the Intel Assembly and Test (ATM) network, IPV Director of Finance Alan Danner said on January 27.

Vietnam prepares to lure big companies, more cash flow

Vietnam prepares to lure big companies, more cash flow

The advantages brought by free trade agreements, reasonable labor costs and tariff mechanisms have helped Vietnam become a favored destination during the current foreign investment relocation wave.