Intel

The article reported that about 200 factories in the country contracted to make sportswear for Nike have resumed operations. An executive of an industrial park in Ho Chi Minh City was quoted as saying that plants operated by Samsung Electronics and Intel will "provide assistance so that both companies' facilities will return to full production this month.” Companies that produce electrical and electronic components essential for the auto industry are also returning to full strength, much to the relief of manufacturers around the globe. Japan's Furukawa Electric expects to return to full capacity at its Vietnamese plants. Its three factories there make wire harnesses for automobiles, with the site in Ho Chi Minh City alone staffed with about 8,000 workers. The impact from the COVID-19 restrictions has been particularly damaging to Southeast Asia's automotive industry. Vietnam has a high concentration of wire harness factories, while Malaysia is a production hub for automotive … [Read more...] about Vietnam leads recovery in Southeast Asia supply chains: Nikkei

Foreign capital flows are not only poured into Vietnam through FDI projects but also through buying shares in leading companies in the country. Vietnam’s T&T Group, Hanwha Energy JSC, Korea Southern Power Co., Ltd. (KOSPO) and Korea Gas Corporation (KOGAS) recently received a licence to invest in the Hai Lang LNG gas power center in the central province of Quang Tri, with total investment capital of 2.3 billion USD. This is an investment cooperation project between a leading private economic group in Vietnam and three leading Korean corporations in the field of energy. The project shows that Vietnam is still considered a long-term destination of foreign investors. The foreign capital flow is still pouring into Vietnam. Previously, T&T Group signed a memorandum of understanding on strategic cooperation in the field of offshore wind power with Denmark's Ørsted corporation, with a total installed capacity of nearly 10 GW and total investment value of about 30 … [Read more...] about Huge cash flow continues in Vietnam

Many factories, including about 200 contracted factories that make sportwear for Nike Corporation, resumed production in Vietnam earlier this month. However, if this return is to be resilient and long-lasting, a range of changes to business practices and relationships may have to be realised. Tan De Garment provides COVID-19 vaccines to its employees in Thai Binh Province. Photo courtesy of the firm Nobel Kinder, Sustainable Development Director of Nike Corporation, committed to continuing to invest and expand production in Vietnam when he met Prime Minister Pham Minh Chinh on the sidelines of the COP26 Conference in Glasgow, Scotland on November 2. As of November 1, as many as 1,324 of 1,412 enterprises in the export processing zones and industrial zones of HCM City have registered to resume operations. Of these, 216,000, or 88 per cent, of employees have returned to work. More than 83 per cent of businesses in Can Tho have also returned to production. As of … [Read more...] about Pandemic will have long-lasting impact on business operations in Vietnam

Tan De Garment provides COVID-19 vaccines to its employees in Thai Binh Province. — Photo courtesy of the firm Many factories, including about 200 contracted factories that make sportwear for Nike Corporation, resumed production in Viet Nam earlier this month. However, if this return is to be resilient and long-lasting, a range of changes to business practices and relationships may have to be realised. Nobel Kinder, Sustainable Development Director of Nike Corporation, committed to continuing to invest and expand production in Viet Nam when he met Prime Minister Pham Minh Chinh on the sidelines of the COP26 Conference in Glasgow, Scotland on November 2. As of November 1, as many as 1,324 of 1,412 enterprises in the export processing zones and industrial zones of HCM City have registered to resume operations. Of these, 216,000, or 88 per cent, of employees have returned to work. More than 83 per cent of businesses in Can Tho have also returned to production. As of November, … [Read more...] about Pandemic will have long-lasting impact on business operations in Viet Nam

Key drivers to fortify economic upswing The General Department of Vietnam Customs (GDVC) last week reported that after six months of consecutive trade deficit, Vietnam’s trade balance returned to a surplus. This is deemed a positive signal for the economy’s gradual recovery which will help the economy to reach higher growth in 2022, at 6-6.5 per cent as expected by the National Assembly. In October, the total export-import turnover hit $55 billion, up 2.4 per cent over September, with a trade surplus of $2.74 billion. The figure for the whole 10 months reached $539.42 billion, up by $99.54 billion or 22.6 per cent on-year. In which, the export and import values totalled $269.77 billion and $269.65 billion, up 17.4 and 28.3 per cent on-year, respectively. The total trade surplus stood at $125 million. The key contributor to the trade surplus in October and 10 months is foreign-invested enterprises. Their total export-import turnover was $37.76 billion in October, leading the … [Read more...] about Key drivers to fortify economic upswing

Most foreign invested enterprises have reopened their factories after lockdown and are optimistic about business performance for the last months of the year. Nike commits to continue to make investments and scale up production in Vietnam In early November, on the sidelines of COP26 in Glasgow, Prime Minister Pham Minh Chinh received Nobel Kinder, the Sustainable Development Director of Nike Corporation. Nike has hundreds of vendors in Vietnam, making a wide range of products for Nike to sell all over the globe. Nike unexpectedly became a topic of discussions during the pandemic peak days in Vietnam with the rumour that it would leave Vietnam. At a meeting with Chinh, Kinder said nearly all 200 factories of Nike in many localities had resumed operation. The group also committed to continue to make investments and scale up production in Vietnam. The news about Nike was also mentioned at the meetings of delegations of National Assembly Deputies at the second session of the … [Read more...] about Big foreign companies to continue to increase investment in Vietnam