Samsung manufacturer in vietnam

Electronics groups from South Korea and Japan are continuing to expand in Vietnam, Le Toan The Saigon Hi-tech Park Management Authority has recently granted the license for Samsung Electronics HCMC CE Complex (SEHC) to expand its operation with a total investment capital of $841 million. Starting operations in 2016, SEHC is currently Samsung Electronics’ second-largest manufacturing site worldwide for TV screens and home electronics units. Meanwhile, Samsung Engineering has officially become the strategic shareholder of DNP Water, a member of DNP Holdings, after spending $41 million to acquire 24 per cent of the company. The pair signed a strategic partnership agreement on June 29. Investing in DNP Water is an opportunity for Samsung Engineering to approach the water treatment sector in Vietnam. With the experience and the competition capacity, it has plans to open wastewater treatment plants and then expand to other surrounding countries. Founded in 1970, Samsung … [Read more...] about Samsung imprinting essential role in fostering capital inflows

Global tech giant Google is in the process of considering moving orders for future phones to Vietnam in an effort to avoid risks posed by ongoing trade tensions between the United States and China, as well as China's COVID-19 lockdown, newspaper DigiTimes of Taiwan (China) reported. Google's Pixel 7 smartphone The Taiwanese media outlet cited sources from the upstream supply chain as saying that the US-based tech firm originally planned to produce its smartphones in Vietnam. However, it ultimately decided to keep its production in China due to a combination of the pandemic coupled with the strong support provided by Chinese supply chains. However, DigiTimes assessed that the strict COVID-19 lockdowns implemented by the northern neighbour have prompted the company to reconsider its view. According to figures compiled by Canalys, Google has seen robust demand for its Pixel 6 in the North American market, with the smartphone's shipments reaching around 1.2 … [Read more...] about Google ponders moving smartphone production from China to Vietnam

Even though recovery across the South-East Asian region has been uneven with the Delta variant, most countries’ GDP including Singapore, Indonesia, Malaysia, the Philippines and Vietnam have risen back up to pre-pandemic levels – with the exception of Thailand, which is still at 2 percent below pre-pandemic levels as its tourism industry struggled with travel and mobility restrictions. It was noted that Vietnam was not particularly affected by the Delta variant wave, and hence did not experience large lockdowns that impacted its economy as much as Malaysia and the Philippines did. Singapore, on the other hand, was able to take advantage of the increase in demand for consumer electronics globally to increase its GDP growth by 7.6 percent last year. Across the region, there is a marked lag in the recovery of the services sector in terms of accommodation, food and retail, but that is expected to increase with the reopening of borders and easing of travel restrictions. However, China’s … [Read more...] about Vietnam’s economy to grow more than 6.5 percent in 2022

The Ministry of Planning and Investment (MPI) reported last week by the Vietnam Electronic Industries Association (VEIA) that Apple has moved 11 factories from Chinese businesses in the supply chain to Vietnam, while other assemblers like Foxconn, Luxshare, Pegatron, and Wistron are ramping up production capacity in Vietnam. Do Thi Thuy Huong, general secretary of the VEIA, said that the electronic components manufacturing industry of Vietnam has its own advantages for those looking to relocate supply chains out of China to neighbouring countries. “A number of high-tech groups have been cultivating their projects in the northern provinces of Bac Ninh and Bac Giang, and they will also do the same in some other potential localities,” Huong said. Last week Sandeep Mehta, president of India’s Adani Ports & SEZ, announced on behalf of Adani Group that it would pour $10 billion into Vietnam. It is part of a $100 billion package that Adani Group would like to invest overseas. … [Read more...] about Electronics giants leading foreign investment bounce

At the forum (Photo: baoquocte) Quang Nam (VNA) – The central province of Quang Nam has briefed overseas Vietnamese entrepreneurs in Thailand on its investment, trade and tourism incentives well as projects calling for investments at a forum in Hoi An city on July 5. Speaking at the event, Chairman of the provincial People’s Committee Le Tri Thanh said Quang Nam now counts 195 FDI projects with total registered capital of 6 billion USD, mainly focusing on processing-manufacturing, tourism and services. Of the 30 countries and territories investing in the province, Thailand contributes four projects worth some 43.4 million USD in the fields of agriculture and processing-manufacturing, he added, stressing that the Thai firms are operating effectively and significantly contributing to local development. Vietnamese Ambassador to Thailand Phan Chi Thanh said Thailand is a big economic partner and the ninth largest investor of Vietnam with more than 600 projects valued … [Read more...] about Quang Nam lures Vietnamese businesses in Thailand

An off-shore rig operated by PV Gas. The company shares fell nearly 5.2 per cent yesterday, leading the market's downside. — Photo pvgas.com.vn The stock market settled lower on Tuesday as rising selling pressure hurt sentiment. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index reduced by 14.24 points, or nearly 1.2 per cent, to 1,181.29 points. It fell for the second day in a row. The market’s breadth was negative with 347 stocks declining, while 120 stocks increased. Liquidity, however, improved compared to the previous session, of which 612 million stocks were traded on the southern bourse, worth over VND13.8 trillion (US$591.1 million). The market’s benchmark continued the downside risk as sell-off force grew stronger at the end of the session. Saigon - Hanoi Securities JSC (SHS) said that the liquidity base has dropped sharply since last November. And the market's great falls in the past three months caused investors who just recently joined to lose. “Perhaps … [Read more...] about Shares tumble, VN-Index loses over 14 points