Vietnam Vietnam Economy Thread

[xizhimen]

Can Vietnam beat China to become the "manufactory of the world"?

12-10-2021 - 08:38 AM

Vietnam is considered as one of the fastest growing economies, the most impressive among emerging economies in Asia. So what is the opportunity for Vietnam to replace China to become a "new global factory"?

What makes Vietnam an export powerhouse in the region?

A team of economists from AXA Investment Managers Asia based in Singapore has analyzed and explained the reasons why Vietnam can become an export power in the region, and assessed the prospect of becoming a "factory for export". second world" after China of this Southeast Asian economy.

According to two economists Aidan Yao and Shirley Shen, Vietnam is considered one of the fastest growing economies, the most impressive among emerging economies in Asia (excluding China). deeply integrated into global trade in recent decades.

Macroeconomic experts from AXA Investment Managers Asia affirmed: "Vietnam is increasingly competitive in trade and has become an attractive manufacturing center in the world".

According to the assessment of AXA Investment Managers Asia, Vietnam's successful integration into the Association of Southeast Asian Nations (ASEAN) is the "key" to the strong growth of trade activities.

In the region, Vietnam ranks highly in terms of economic performance, fueled by strong returns from manufacturing development and export potential.

In addition, Vietnam has also signed many free trade agreements (FTAs) with different major regions and economies around the world such as Japan (VJEPA), the European Union (EVFTA), the UK (VJA), and the EU (EU). UKVFTA), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Regional Comprehensive Economic Partnership Agreement (RCEP), etc., this has created a favorable environment for trade relations to develop. even stronger.

Previous studies by AXA Investment Managers Asia have all shared that Vietnam has been a prominent winner in terms of global export market share in recent years.

Especially as China has successfully risen to assert value in the global trade supply chain, bypassing the gaps in lower value growth, using low-cost labor, and making the country lose its competitiveness. compared to neighboring countries that are making strong breakthroughs like Vietnam.

The research team of AXA Investment Managers Asia said: "Vietnam has achieved a 5-fold increase in export value over the past decade, significantly outperforming the rest of Asia".

In addition, in the past time, Vietnam is considered one of the countries that benefit the most from the trade conflict between the US and China, along with the rapidly increasing competitiveness in the manufacturing sector also contributes to the growth of the economy. Vietnam has risen to become an export power in the ASEAN region in particular and Asia in general.

Figures show that Vietnam's exports to the US increased by 29% in 2019. At the end of last year, Vietnam became the 6th largest importer to the US market, up from 12th place in 2017.

In terms of attracting foreign direct investment (FDI), Vietnam has been particularly successful thanks to the government's preferential policies during the past time. In particular, Vietnam's FDI inflows have grown the fastest in the region.



By 2020, Vietnam has 369 industrial parks, an increase of 180% compared to 2005. Vietnam has also ranked up in the ranking of the "ease of doing business" index of the World Bank (WB), up 23 places up. rank 70 compared to 10 years ago.

Besides, in terms of competitiveness assessment scores based on business facilitation, logistics quality, wage costs, Gross Domestic Product (GDP) growth as well as changes in the In terms of exports and FDI, Vietnam is considered as the most competitive country in the region. This has helped increase export market share impressively in recent years.

Regarding Vietnam's manufacturing industry in the past decade, a series of statistics show that the value of the industry has increased the most, twice the rate of India.

According to AXA Investment Managers Asia, one of the important reasons for Vietnam to emerge as a powerhouse of commercial production and assembly is its ability to attract businesses to relocate and re-establish production bases.

Two economists Shirley Shen and Aidan Yao said that, in addition to the wave of supply chain shift from developed countries to the community of developing countries, previous AXA research also showed that manufacturing profits The low level caused the world's leading multinational corporations to start migrating out of China in recent years.

The reasons indicated are that China has a rapidly growing economy, increasing labor costs, rapidly increasing production operating costs or recently trade tensions with the US, along with With the impact of the COVID-19 pandemic, the wave of production shift is accelerating faster and faster.

At the end of 2018 and 2019, Samsung also closed two large phone assembly plants in China, moving to Vietnam, so that half of the leading handsets of this Korean electronics group were assembled. in Bac Ninh and Thai Nguyen.

Leading fashion, apparel and footwear supply chains, such as Nike and Adidas, which recently decided to move their production bases out of China, have also chosen Vietnam as a safe haven.

In addition, many of the world's leading technology giants such as Google, Microsoft, and Intel, have also moved or are in the process of converting parts of their production lines to Vietnam.

Can Vietnam become a "world factory" to replace China?

According to Mr. Aidan Yao and Ms. Shirley Shen, although Vietnam is a popular destination for global supply chain relocation, there is nevertheless the potential for this Southeast Asian country to become "the world's new factory" " or "new global factory" is unlikely.

The research team pointed out: “The size of the economy is an important issue when it comes to forecasting whether Vietnam is able to replace China's position in the global supply chain or not. Compared to the world's second largest economy, Vietnam's economy is actually much smaller - only 1/5 of China's GDP and 1/5 of China's population as well as the total existing productive workforce.

In addition, Vietnam's manufacturing output accounts for only 0.3% of the total global output, while China's accounts for 28%.

Other comparisons, including research and development (R&D) spending, infrastructure construction, rail lines, stock values, and power generation capacity, are all significantly different, creating a gap. large gap in size between Vietnam and its giant neighbour.

Việt Nam có thể đánh bại Trung Quốc để trở thành "công xưởng sản xuất của thế giới"?

Việt Nam được đánh giá là một trong những nền kinh tế tăng trưởng mạnh mẽ, ấn tượng nhất trong số các nền kinh tế mới nổi ở châu Á. Vậy cơ hội nào cho Việt Nam thay thế Trung Quốc để trở thành "công xưởng sản xuất mới toàn cầu"?

cafef.vn

Vietnam first needs to beat two adjacent Chinaese provinces Guangxi and Yunnan, both have just less than half of Vietnam's population with much bigger GDP than Vietnam, and both are among the poor provinces in China.

 

[Viva_vietnamm]

Vietnam first needs to beat two adjacent Chinaese provinces Guangxi and Yunnan, both have just less than half of Vietnam's population with much bigger GDP than Vietnam, and both are among the poor provinces in China.

SO, how Guangxi and Yunnan still make money when Samsung, LG , auto part-tire factories etc left them to VN plus power crisis in CN now ?? By creating more Evergrande companies there ??

 

[xizhimen]

SO, how Guangxi and Yunnan still make money when Samsung, LG , auto part-tire factories etc left them to VN plus power crisis in CN now ?? By creating more Evergrande companies there ??

Now Chinese domestic market is the world biggest and China is moving to a consumption driven economy, every industry is moving up the value chain with more value added production, this is way trade is booming in recent years.

 

[xizhimen]

Now tourism is the pillar of Yunnan's economy, the biggest disadvantage of Yunnan is it is a landlocked province, it's why it is still one of the poor provinces in China.

Traditionally, Yunnan has eight key industries, these are:

• Modern plateau agriculture;
• Cultural tourism;
• Modern logistics;
• Information technology;
• Biomedicine and healthcare;
• Foods and consumer goods manufacturing;
• New materials industry; and
• Advanced equipment manufacturing industry.

 

[Viva_vietnamm]

Now tourism is the pillar of Yunnan's economy, the biggest disadvantage of Yunnan is it is a landlocked province, it's why it is still one of the poor provinces in China.

Traditionally, Yunnan has eight key industries, these are:

• Modern plateau agriculture;
• Cultural tourism;
• Modern logistics;
• Information technology;
• Biomedicine and healthcare;
• Foods and consumer goods manufacturing;
• New materials industry; and
• Advanced equipment manufacturing industry.

So, the way to develop the economy between VN and Yunnan are different now, we focus on attracting more FDI, more Green and High tech factories, more R&D center like Samsung center, trying to build our own factories and R&D center and try to sell more VInfast cars, EVs to EU-US while Yunnan is focusing in tourism thanks to big CNese domestic market.

Yunnan's development way is unstable, easy toget hurt during pandemic while VN's development way is stable and will help VN to get rich like Japan or S.Korea

 

[Viva_vietnamm]

Many "big guys" in the electronics industry continue to invest in Vietnam

Phuc Minh - Many "big guys" in the electronics industry continue to invest or expand production in Vietnam through large projects. Bac Ninh, Hai Phong, Bac Giang, Thanh Hoa and Da Nang continue to become the localities receiving huge investments from these FDI projects…. This information was announced by Navigos Group, a corporation providing human resource recruitment services in the recently released report on the recruitment demand for mid- and senior-level personnel in the Vietnamese market in the third quarter of 2021, forecasting the trend. recruitment direction in the fourth quarter of 2021 and the beginning of 2022.

MANY BIG ENTERPRISES CONTINUE TO INVEST AND EXPAND PRODUCTION

According to a report by Navigos Group, the market is seeing many large enterprises in the electronics industry continue to invest or expand production in Vietnam through large projects. In which, there are projects to build large research centers (Research & Development - R&D). Bac Ninh, Hai Phong, Bac Giang, Thanh Hoa and Da Nang continue to become the localities receiving huge investments from these FDI projects. Some businesses in the North in this segment, due to effective Covid-19 prevention and control measures, still maintain good production activities.

There was even a slight growth due to receiving many production orders from other branches that are affected by Covid-19.

Besides, the market also observed a large recruitment demand for candidates who know Chinese due to the shift of businesses from China to Vietnam.

Also because the impact of Covid-19 is less than in the South, most of the textile enterprises in the North are still maintaining good production at the moment. Many businesses have more orders from other regions in Asia to move to Vietnam, because these regions have not yet controlled the disease well. Therefore, large and reputable textile and garment enterprises are doing very well with current orders.

There are companies that have received orders until April 2022 and still need to recruit more workers. Some companies say their profits have even doubled in the past. BUSINESSES HAVE A DEMAND TO INCREASE RECRUITMENT The hiring forecast may increase due to increased orders from some businesses, but not too much. In addition, if businesses hire, most of them will be to replace employees who have quit their jobs and strengthen the team with positions that need high skills and techniques. Positive recruitment signals also appear in the banking industry, when units in this industry are racing to transform digitally, so the demand for recruiting high-quality personnel is still increasing. Accordingly, not only large-scale banks, smaller banks and a number of securities companies have also planned and invested in the transformation, establishing Project Committees/Conversion Blocks. Therefore, the demand for personnel at all levels for information technology and digital transformation positions continues to increase, especially for the positions of application development, technology development, transformation management, administration. and data analytics, digital marketing and business.

Navigos Search's forecast shows that this digital transformation race is still going on for banks and companies with sustainable resources and strategies, so the demand for the above-mentioned high-quality human resources is high. still increase. Meanwhile, the electricity - electronics, mechanics and furniture industries in the South decreased by 70% due to the temporary closure of the factory. Due to the strong outbreak of the Covid-19 epidemic in Ho Chi Minh City and neighboring provinces, businesses in the electrical - electronic, mechanical and furniture manufacturing sectors faced many difficulties. Businesses that want to maintain operations need to implement the 3T policy, leading to costly expenses, causing many businesses to choose to temporarily close so that when the epidemic is under control, they will reopen.

Similarly, many FMCG and retail businesses will postpone recruitment and stop hiring in the fourth quarter of 2021. The main reason is that businesses focus on disease prevention, so production and business activities are interrupted or owners remain at a low level. Candidates in this field, affected by Covid-19, are not open to new opportunities to ensure job safety. Therefore, the market is still short of potential candidates for the positions that are currently being recruited. In the fourth quarter, businesses in the retail industry are gradually reopening, and recruitment demand is forecasted to increase slightly in early 2022. Businesses in the commercial consumer goods industry are still recruiting, However, it is forecasted that in the fourth quarter, recruitment demand may decrease slightly compared to the third quarter.

Nhiều "ông lớn" trong ngành điện tử tiếp tục đầu tư tại Việt Nam

Nhiều "ông lớn" trong ngành điện tử tiếp tục đầu tư hoặc mở rộng sản xuất tại Việt Nam thông qua các dự án lớn. Bắc Ninh, Hải Phòng, Bắc Giang, Thanh Hóa và Đà Nẵng tiếp tục trở thành các địa phương nhận được các đầu tư rất lớn từ các dự án FDI này….

vneconomy.vn

 

[Viva_vietnamm]

What Vietnam has learned from Korea's 'U-turn Act' law: Only 6 years can bring a series of "big guys" in the electronics, automobile, jewelry industries... to the country.
October 18, 2021 - 15:14 PM

The disruption to the global supply chain caused by the Covid-19 pandemic has spurred the trend of shifting manufacturing out of China. Other countries in Asia are considered to benefit from this trend, especially Korea and Vietnam.

The Project Syndicate newspaper emphasized, Vietnam and Korea need to focus on promoting the process of shifting and reshoring (known as "returning", or moving production back to the original country of enterprises). Covid-19 has highlighted numerous "weaknesses" of cross-border value chains. Once the "backbone" of the globalization process, value chains are now labeled as "interruptible". Accordingly, value chains are being restructured to meet the economic recovery process.

At the same time, China's role in the global economy is gradually changing. Many businesses from different countries and industries have chosen to leave China. For example, US soybean producer Hasbro closed its factory in China to focus on production in Vietnam, Japanese electronics giant Sony has moved operations to Thailand, and South Korea's Cotton Club. have moved to the Philippines, Cambodia and Indonesia.

Even Chinese companies are leaving the country for cheaper production locations. Wages in China are more than double that of Vietnam, almost 70% in South Korea.

Besides, the shortage of labor also makes it difficult to reduce production costs. What Vietnam has learned from the U-turn Act of Korea: Only 6 years can bring a series of giants in the electronics, automobile, jewelry industries... - Photo 1. What Vietnam has learned from Korea's U-turn Act: Only 6 years can bring a series of giants in the electronics, automobile, jewelry industries... - Photo 2. Moreover, fierce competition in the Chinese market from domestic manufacturers has made the country "less attractive" in the eyes of investors. A decade ago, Samsung held a 20% market share in the Chinese market.

But so far, its market share is less than 0.5%. In this context, Samsung has decided to move the entire production line of consumer goods out of China. Currently, the technology giant only maintains 3 factories in China, aiming to produce intermediate parts such as semiconductor chips, batteries for electric cars and MLCC capacitors to help stabilize the current in circuit boards. One of the countries that is active in encouraging businesses to return home is Korea. Over the past decade, the Korean government has enacted a number of policies, including tax benefits, subsidies and land rebates, to encourage reshoring. In 2019, the country further revised the "U-turn act" focusing on industries, especially information businesses. These policies, combined with many external factors, have contributed to a steady increase in the number of Korean businesses reshoring, from nine in 2018 to 16 in 2019, and 21 in 2020. Reshoring businesses are in a variety of industries, from electronics and jewelry to automobiles, and most of them are repatriated from China. What Vietnam has learned from Korea's U-turn Act: Only 6 years can bring a series of giants in the electronics, automobile, jewelry industries... -

Many enterprises find it a reasonable choice to close old production lines in China and build "smart factories" in their own countries. For example, Korean garment company G&G has built a new, fully automated smart factory in Southwestern Korea, helping businesses to be more competitive in price, as well as more flexible in product diversity. , even in a labor-intensive sector. For businesses facing these digital transformation challenges, the Korean government has established a special public-private partnership program to help businesses access and build factories. smart. What does Vietnam learn from the U-turn Act of Korea:

Korea Institute of Industrial Economics and Trade Increasing digitalization is also an effective way to deal with the challenge of supply chain disruption. For example, Hyundai Motors previously outsourced all electrical wiring production to suppliers in China. However, Covid-19 forced the company to close the production line of this product. Since then, Hyundai has transferred the production process thanks to Korea's digital transformation program.

Project Syndicate concludes, China's "loss" is the "gain" of many Southeast Asian countries. Thanks to the process of shifting and reshoring, in 2019, ASEAN member countries recorded the highest FDI inflows into new investment ever.

Việt Nam học được gì từ luật 'U-turn Act' của Hàn Quốc: Chỉ 6 năm có thể kéo loạt 'ông lớn' các ngành điện tử, ô tô, trang sức... về nước

Sự gián đoạn chuỗi cung ứng toàn cầu do đại dịch Covid-19 gây ra đã thúc đẩy xu hướng chuyển dịch ngành sản xuất ra khỏi Trung Quốc. Các quốc gia khác ở châu Á được đánh giá là hưởng lợi từ xu hướng này, đặc biệt là Hàn Quốc và Việt Nam.

cafef.vn

 

[Viva_vietnamm]

Turkey’s Hayat Group unveils second phase of US$250 million factory in Binh Phuoc
Wednesday, 11:41, 20/10/2021

VOV.VN - Hayat Group of Turkey’s has officially announced the second phase of an investment package worth US$250 million in a Vietnamese factory, to expand distribution of fast-moving consumer goods (FMCG) products both nationwide and across the region.​

Hayat factory in the southern province of Binh Phuoc (Photo: Hayat Vietnam)
The Turkish group announced late last year that it is to inject US$250 million to develop a factory in Becamex-Binh Phuoc industrial and urban complex.
During an online press conference held on October 19, Cetin Murat, general director of Hayat Vietnam, said the group has now completed the first phase of the project, by setting up Hayat Vietnam Company with an investment capital of US$100 million that can generate more than 500 jobs.
Murat expressed his hope that the project will receive further support from southern Binh Phuoc province to expand the site in the second phase, in which Hayat is set to launch the world's fifth largest baby diaper brand named Molfix in the Vietnamese market.
The Hayat factory in Vietnam is set to provide FMCG products to other potential markets throughout ASEAN, such as Cambodia, the Philippines, Laos, and Indonesia. Indeed, the total export value of Hayat Vietnam is estimated to be US$50 million per year.
According to Hayat, the Vietnamese factory is anticipated to take on the role of a production hub for Southeast Asia, with approximately 40% of its output being exported to overseas markets such as Thailand and Malaysia.

Turkey’s Hayat Group unveils second phase of US$250 million factory in Binh Phuoc

VOV.VN - Hayat Group of Turkey’s has officially announced the second phase of an investment package worth US$250 million in a Vietnamese factory, to expand distribution of fast-moving consumer goods (FMCG) products both nationwide and across the region.

english.vov.vn

 

[Viva_vietnamm]

Many FDI enterprises such as Foxconn, Intel, Apple want to expand production in Vietnam

15:54 | October 21, 2021

Contrary to many opinions that some FDI enterprises want to move their production chains out of Vietnam, the Minister of Foreign Affairs affirmed that there are no big corporations moving their supply chains out of Vietnam, even Foxconn, Apple , Intel, etc. are looking to expand production further. On October 21, continuing the program of the second session of the 15th National Assembly, National Assembly deputies discussed at the group about the implementation of the socio-economic development plan and the prevention and control of the COVID-19 epidemic. 19.

Speaking at the group, Minister of Foreign Affairs, Mr. Bui Thanh Son, said that in the past time, it was suggested that some enterprises moved their production chains out of Vietnam. However, he affirmed, there is no withdrawal of FDI enterprises from Vietnam.

"We have discussed with a number of corporations such as Adidas, Apple ... they said that Vietnam has been closed for a relatively long time, so some orders could not be met. So they had to move a new one. Although the number of orders has gone, the production base in Vietnam is recovering and continues to expand," VTV quoted the head of the Ministry of Foreign Affairs. Mr. Bui Thanh Son also said that Foxconn, Apple, Intel... are looking to expand production further. Because they see the great potential of Vietnam, especially the free trade agreements that Vietnam signed with other countries.

Discussing socio-economic solutions, Minister Bui Thanh Son emphasized the importance of the overall program on economic recovery. It must approach both supply and demand directions of the economy. “The experience of other countries shows that it is necessary to have fiscal measures to stimulate aggregate demand. This is very important because after the 4th wave of COVID-19 epidemic, people's life is very difficult, causing aggregate demand to decrease. In addition, stimulating aggregate supply is also very important, when the production chain breakdown has taken place," said Mr. Son. Mr. Son also emphasized the importance of restoring the labor market when many people have moved to their hometowns. In fact, there are still many FDI enterprises pouring hundreds of millions of dollars to expand production in Vietnam.

At the seminar "COVID-19 and FDI: Impact and Prospects" on September 27, General Director of Samsung Vietnam complex Choi Joo Ho shared that Samsung is building an R&D center in Hanoi with an investment scale of up to up to USD 220 million, in order to improve research and development capacity in the medium and long term. Currently, the R&D Center has completed over 50% progress and is expected to be inaugurated by the end of 2022. Meanwhile, Nestlé Vietnam also has a new investment of more than 130 million USD or Tetra Pak spends 5 million euros to upgrade the paper box factory in Binh Duong. The new investment will help Tetra Pak's 120 million euro paper box factory in Binh Duong increase production from the current 11.5 billion boxes to 16.5 billion boxes per year. Thereby, businesses can meet the increasing demand for sterilized paper boxes in the country and the region.

Nhiều doanh nghiệp FDI như Foxconn, Intel, Apple muốn mở rộng sản xuất tại Việt Nam

Trái với nhiều ý kiến cho rằng một số doanh nghiệp FDI muốn chuyển chuỗi sản xuất ra khỏi ra Việt Nam, Bộ trưởng Ngoại giao khẳng định không có việc các tập đoàn lớn di chuyển chuỗi cung ứng khỏi Việt Nam, thậm chí Foxconn, Apple, Intel,… đang muốn mở rộng sản xuất tiếp.

vietnambiz.vn

 

[Viva_vietnamm]

India supports the project to build a school in Sapa

According to information from the Indian Embassy in Vietnam, the Government of India will support 50,000 USD non-refundable for the project to facilitate education for more than 100 children in Sa Pa (Lao Cai).​

Lễ ký Biên bản ghi nhớ giữa Đại sứ quán Ấn Độ và chính quyền tỉnh về Dự án xây dựng phòng học cho Trường Mầm non Trung Chải, Sa Pa. (Ảnh: ĐSQ Ấn Độ cung cấp)
Signing ceremony of Memorandum of Understanding between the Embassy of India and the provincial government on the project of building classrooms for Trung Chai Kindergarten, Sa Pa. (Photo: provided by the Indian Embassy)

During the recent visit to Lao Cai province, Indian Ambassador to Vietnam Pranay Verma and Chairman of Lao Cai Provincial People's Committee Trinh Xuan Truong witnessed the signing ceremony of a Memorandum of Understanding between the Indian Embassy and the provincial government on the project. Classroom construction project for Trung Chai Kindergarten, Sa Pa.

The project belongs to the Government of India's Rapid Impact project program, creating educational conditions for more than 100 Sa Pa children and has a total investment of nearly 100,000 USD. In particular, the Government of India will support non-refundable $ 50,000. At the MOU signing ceremony, Ambassador Pranay Verma expressed that the practical and fast handover of infrastructure through Rapid Impact projects has brought direct benefits to local communities. and contribute to Vietnam's efforts towards the Sustainable Development Goals.

Đại sứ Ấn Độ và đoàn công tác thăm Trường mầm non Trung Chải (Ảnh: ĐSQ Ấn Độ cung cấp)
During the visit, Ambassador Pranay Verma met Mr. Dang Xuan Phong, Secretary of the Lao Cai Provincial Party Committee and Mr. Trinh Xuan Truong, Chairman of the Provincial People's Committee to discuss potential areas of cooperation between India and Lao Cai province.

Ambassador Pranay Verma acknowledged that cooperation with provinces is one of the important pillars of the India-Vietnam Comprehensive Strategic Partnership and said he looks forward to being more closely associated with Lao Cai as a part of the Embassy's outreach to provinces. Ambassador Pranay Verma emphasized the potential for cooperation in trade, economy and development as well as the link between people through tourism and cultural exchanges.

The Ambassador also suggested cooperation with Lao Cai province in capacity building programs, including in the field of Information and Communication Technology. At the meetings, the leaders of Lao Cai province briefly introduced potential opportunities for cooperation with India based on Lao Cai's socio-economic development priorities in infrastructure development, agriculture. industry, processing, mining, tourism, smart city and socio-cultural development. Leaders of Lao Cai province also invited Indian investors to Lao Cai province to cooperate in this and other fields..

Ấn Độ hỗ trợ dự án xây trường học tại Sa Pa

Theo tin từ Đại sứ quán Ấn Độ tại Việt Nam, Chính phủ Ấn Độ sẽ hỗ trợ không hoàn lại 50.000 USD cho dự án xây trường học cho Trường Mầm non Trung Chải.

baodantoc.vn

 

[schuimpjes]

Many FDI enterprises such as Foxconn

Just want to show of too lol, can I?. Foxconn also want to invest in Indonesia, but not in smartphone industry chain. Foxconn already here before tho, more specifically in strategic Batam area. But next Foxconn investment here is for EV Industry.

Taiwan's Foxconn, Gogoro Seek Entry Into Indonesia's EV Industry

The company has had Indonesia's investment minister's guarantee to expedite the companies permit process.

jakartaglobe.id

Btw, Pew Research Center in 2015 was put the populations of Vietnam are the most supportive of free market economy with the number of 95% of the respondence, do you have any words?. And also, I hope all goodness for Vietnam.

Back to that Foxconn EV industry, I don't know how that works, but based on that article it was written that they gonna make Gogoro scooter. Hope they will also make Apple Car lol.

Edit : I'm sorry, not in 2015 but 2014

Support for Free Market System

www.pewresearch.org

 

[Viva_vietnamm]

Just want to show of too lol, can I?. Foxconn also want to invest in Indonesia, but not in smartphone industry chain. Foxconn already here before tho, more specifically in strategic Batam area. But next Foxconn investment here is for EV Industry.


Btw, Pew Research Center in 2015 was put the populations of Vietnam are the most supportive of free market economy with the number of 95% of the respondence, do you have any words?. And also, I hope all goodness for Vietnam.

Back to that Foxconn EV industry, I don't know how that works, but based on that article it was written that they gonna make Gogoro scooter. Hope they will also make Apple Car lol.

Edit : I'm sorry, not in 2015 but 2014

As I know, Foxconn don't know how to make a good EV, they also try to cooperate with Vinfast (VN car company) but we refused.

btw, Foxconn pay quite good salaries to VN workers to assembly their products (abt 430 usd per month while VN GDP per capita is just from $ 2,800 to $3,000 ).

I think VN economy will have good future, many important factories quit CN and move to VN to avoid trade war like Samsung, LG, auto part/tire suppliers ect . Even Iphone 13 delivery time is delayed bcs VN factories that make camera for Iphone 13 closed due to Covid.

------------

iPhone 13 delivery times lengthen as COVID hits suppliers in Vietnam​

Camera module constraints add more pressure as China power cuts hit supply chain

Apple's newly launched iPhone 13 has encountered production snags, partially associated with problems in COVID-hit Vietnam. (Photo by Arisa Moriyama)
LAULY LI, CHENG TING-FANG, and LIEN HOANG, Nikkei staff writersSeptember 29, 2021 12:02 JST
TAIPEI/HO CHI MINH CITY -- Buyers of Apple's new iPhone 13 are facing longer-than-expected delivery times due to the COVID wave in Vietnam and the U.S. tech giant's deployment of a new camera feature, Nikkei Asia has learned.
The disruption is mainly associated with constrained supplies of camera modules for the four iPhone 13 models because a significant number of its component parts are assembled in Vietnam, according to people familiar with the matter.
Supply chain sources had expected this year's rollout of new iPhones to be relatively smooth, given that most changes to the updated devices are only incremental and Apple has been able to stockpile many key components.

But the company has expanded the use of its new sensor-shift optical image stabilization (OIS) to all four iPhone models when previously it was only in the premium iPhone 12 Pro Max. This has put suppliers in the position of having to ramp up production without jeopardizing production quality, against the backdrop of severe restrictions due to COVID.
Sensor-shift OIS stabilizes sensors on the camera to make images smoother and video steadier even if users are in motion, and it is an improvement on previous technology that stabilized camera lenses.
"Assemblers can still produce the new iPhones, but there's a supply gap [in] that the inventories of the camera modules are running low," one of the executives with direct knowledge told Nikkei Asia. "There's nothing we can do but to monitor the situation in Vietnam every day and wait for them to ramp up the output."
The situation may improve as soon as around mid-October as production at one of the key iPhone camera module manufacturing facilities in southern Vietnam has gradually resumed in recent days after several months of on-and-off disruption, another executive familiar with the situation told Nikke

iPhone 13 delivery times lengthen as COVID hits suppliers in Vietnam

Camera module constraints add more pressure as China power cuts hit supply chain

asia.nikkei.com

 

[Viva_vietnamm]

Vietnam is one of the 10 largest suppliers of goods to the EU market

October 28, 2021
Vietnam is in the top 10 countries supplying the largest goods to the European market (EU), with two-way trade turnover in 2020 reaching 43.2 billion euros. Vietnam has now become the EU's largest goods trading partner in the ASEAN region, with two-way trade turnover in 2020 reaching 43.2 billion EUR (according to Eurostat), ranked in the top 10 countries supplying goods. largest in this market.

The first batch of lychee was exported to the EU market in July 2021

That is one of the notable information at the Vietnam - EU Trade Forum 2021, organized by the Ministry of Industry and Trade in collaboration with the European Chamber of Commerce in Vietnam (EuroCham) on the morning of October 27 in Hanoi. Although Vietnam was severely affected by the 4th outbreak of the epidemic in the southern key export region, in September 2021, two-way trade between Vietnam and the EU still recorded positive growth, including compared to the pre-pandemic period, with a turnover of more than 41 billion USD, an increase of more than 13% over the same period in 2020, of which exports increased by 11.7% and imports increased by 17.6% over the same period last year. 2020.

Speaking at the Vietnam - EU Trade Forum in 2021, Deputy Minister of Industry and Trade Dang Hoang An affirmed that more and more businesses are taking advantage of incentives from the EVFTA Agreement through the use of certificates of origin (C/ O) incentives. The competitiveness and market share of Vietnamese goods have also improved markedly in the EU market. Regarding investment, with a strong commitment to ensuring transparency, openness and convenience in the business-investment environment, Vietnam has received high-quality investment from the EU with projects with advanced technology. advanced, creating common values and benefits for the business communities of the two sides.

These are particularly remarkable results after one year of implementation of the Agreement, and are the basis for us to be completely optimistic and believe in a strong rebound in the development of trade and investment cooperation. Vietnam - EU in the context of the new normal with a solid foundation from the EVFTA. Two-way trade exchange between Vietnam and the EU after one year of implementation of the EVFTA Agreement has reached 54.87 billion USD, up 12.1% over the same period last year, of which export turnover increased by 11.3%. and import turnover increased by 14.04%.

Việt Nam là một trong 10 nước cung ứng hàng hóa lớn nhất vào thị trường EU

Việt Nam lọt top 10 quốc gia cung ứng hàng hóa lớn nhất vào thị trường Châu âu (EU), với kim ngạch thương mại hai chiều năm 2020 đạt 43,2 tỷ EUR.

vietq.vn

 

[Viva_vietnamm]

The US funded 860,000 USD for three renewable energy projects in Vietnam

07:29 | October 29, 2021

According to USAID, the $860,000 budget is intended to help reduce transaction costs and risks for renewable energy project developers in Vietnam, encouraging increased private investment in the development of this sector. On October 28, at the Indo-Pacific Business Forum, the US Agency for International Development (USAID) announced a budget of 860,000 USD to finance three new wind and wave power projects. in Vietnam, Industry and Trade Magazine reported. Specifically, the first project that USAID will support is onshore wind power plants (with a capacity of 350MW) in Gia Lai of TSV Joint Stock Company and Asia Renewables. Support includes designing optimized wind turbine generator system diagrams, performing energy performance assessments for financial feasibility prior to construction, pre-construction documentation and tender preparation necessary for construction.

The second project is the experimental project of offshore wave power technology of INGINE Pacific company on Ly Son island, Quang Ngai. Support includes carrying out social and environmental impact assessments, helping INGINE Pacific minimize the risk of project interruptions, optimize project management for greater efficiency and save money. save costs, maximize local development benefits, for example, encourage corporate citizenship practices. “Vietnam has 3,000 km of coastline and more than 3,000 islands and archipelagos, so wave power is an important potential energy source for Vietnam’s transition to a clean energy system,” a USAID representative shared. shall.

The third project supported by USAID is the offshore wind power plants of Bamboo Capital Group (BCG) in Ca Mau (300MW capacity) and Tra Vinh (200MW capacity). Support includes carrying out feasibility studies and environmental and social impact assessments that meet international standards to help BCG Energy Joint Stock Company (a member of Bamboo Capital) when this company are looking for international sources of finance. According to USAID, the $860,000 budget will support the agency's current efforts to reduce transaction costs and risks for project developers to encourage increased private investment in energy development. renewable energy in Vietnam, an area seen as a key driver of sustainability and economic growth. Funding will be provided through the INVEST project, a USAID global initiative that aims to help reduce barriers for investors, thereby facilitating the mobilization and regulation of capital flows. into high-impact areas.

Mỹ tài trợ 860.000 USD cho ba dự án năng lượng tái tạo tại Việt Nam

Theo USAID, khoản ngân sách 860.000 USD nhằm hỗ trợ giảm các chi phí giao dịch và rủi ro cho các nhà phát triển dự án năng lượng tái tạo tại Việt Nam, khuyến khích gia tăng đầu tư tư nhân vào phát triển lĩnh vực này.

vietnambiz.vn

 

[Viva_vietnamm]

Samsung SDS is looking to recruit a large number of IT personnel in Vietnam?​

30-10-2021 - 07:48 AM |

South Korea's leading system integration solutions provider Samsung SDS said it will double the number of employees in Vietnam and India by the end of this year compared to last year to meet the increasing demand for technology maintenance in the country. overseas factories of Samsung Electronics. Samsung is ramping up production of foldable phones at factories along with a shortage of technical manpower.

Samsung SDS recently said it has 3,000 employees at its global delivery centers (GDCs) in Vietnam, India and China who are responsible for developing IT services, up from 2,000. By the end of 2020. The number may increase to 4,000 employees by the end of this year, equivalent to nearly 30% of the company's staff in Korea.

This is a very strong growth when in 2014 there were only 100 employees at GDCs.

A company representative said: "Information technology companies at home and abroad are actively using foreign human resources, Samsung SDS is making efforts to secure resources in Vietnam and India."

Observers say Samsung SDS's aggressive recruitment of overseas workers is part of an effort to deal with rapidly rising labor costs in the country. The average annual salary of Samsung SDS has increased 1.5 times over the past decade to $84,579 in 2020.

Samsung SDS said the workforce expansion in foreign GDCs has nothing to do with the factory expansion, but industry observers believe the company will increase the number of engineers in Vietnam to increase its production capacity. Samsung Electronics' production capacity meets the increasing demand of folding phones.

Samsung SDS recently built a virtual desktop infrastructure (VDI) system for GDCs in partnership with Tilon. Tilon VDI is a remote working system that allows simultaneous access of up to 300 laughs. Samsung SDS also became the largest shareholder of Vietnam's No. 2 information technology solution provider CMC in 2019.

The recent move of Samsung SDS stands in stark contrast to its industry rivals. South Korea's second and third largest IT solution providers LG CNS and SK C&C have not added workforces at GDCs since 2014, at 1,000 and 300 people, respectively.

LG CNS has moved GDCs from China to Vietnam as manufacturing plants move production locations.

Samsung SDS đang muốn tuyển dụng số lượng lớn nhân sự IT tại Việt Nam?

Samsung SDS đang là cổ đông lớn nhất tại CMC, một trong những công ty giải pháp công nghệ thông tin lớn của Việt Nam.

cafef.vn

 

[Viva_vietnamm]

The African market grew by 30%, Viettel Global reached nearly 1,600 billion VND in EBT in 9 months
October 30, 2021 01:00 PM | BUSINESS



SPEAKING ANNOUNCEMENT - 2:09
Viettel Global's gross profit margin reached a record 44.4% in the third quarter.

In 9 months, Viettel Global's revenue reached VND 15,313 billion, an increase of nearly VND 1,000 billion over the same period. Gross profit reached VND 6,336 billion, up 12% over the same period. In the first 9 months of the year, the African market also achieved a growth rate of over 30% with total revenue of more than VND 6,300 billion, accounting for 41% of consolidated revenue.


Profit before tax in 9 months reached 1,571 billion dong, of which 3rd quarter alone reached 473 billion dong.

As of September 30, 2021, Viettel Global's total assets and equity reached VND 54,086 billion and VND 29,097 billion, respectively.

On the stock market, VGI shares have had a positive momentum over the past 3 months: from 28,000 VND/share in July, it has increased by more than 35% to 38,000 VND. At this price, the market capitalization of Viettel Gobal is currently VND 116,000 billion, equivalent to USD 5 billion.

Viettel Global đạt gần 1.600 tỷ đồng lợi nhuận trước thuế trong 9 tháng

Biên lãi gộp của Viettel Global đạt mức kỷ lục 44,4% trong quý 3.

cafebiz.vn

 

[Viva_vietnamm]

Exports to the US reached nearly 5.1 billion USD
October 31, 2021 (GMT+7)

According to Dong Nai Statistics Department, in the first 10 months of 2021, Dong Nai's export turnover to the United States reached nearly 5.1 billion USD, up more than 20% over the same period last year.

The United States is Dong Nai's largest commodity import partner, accounting for nearly 29% of the province's total export turnover. The goods that Dong Nai enterprises export a lot to this country are: textiles, footwear, wood products, textile fibers, machinery, equipment, tools and spare parts, iron and steel products, strong fabrics, fabrics. Skill.

In the export turnover to the US, about 80% of enterprises with foreign direct investment in Dong Nai. Besides, the US is Dong Nai's big export surplus market with about US$3.8 billion. Businesses in the province import a lot of cotton, machinery and equipment, animal feed, and corn from the United States.

Xuất khẩu vào Hoa Kỳ đạt gần 5,1 tỷ USD

Theo Cục Thống kê Đồng Nai, trong 10 tháng năm 2021, kim ngạch xuất khẩu của Đồng Nai vào Hoa Kỳ đạt gần 5,1 tỷ USD, tăng hơn 20% so với cùng kỳ năm trước.

baodongnai.com.vn

 

[Viva_vietnamm]

In early 2022, construction of 4 container terminals with more than 13,000 billion VND (1 billion Vietnamese dong equals 43,605.30 USD) in Hai Phong will be started


The Ministry of Transport said that the investor is finally implementing the prescribed procedures to start the construction of the remaining 4 ports from 3 to 6 in Lach Huyen Wharf Area, Hai Phong in early 2022, soon to open the channel. big ship...



Cargo throughput through two launch terminals No. 1 and 2 Lach Huyen wharf area grows strongly every year.

The Ministry of Transport has just issued Document No. 11169/BGTVT-KHĐT to the Hai Phong City National Assembly Delegation to respond to voters' recommendations on investment in the next terminals of Hai Phong International Gateway Port.

Specifically, voters of Hai Phong city suggested that the Ministry of Transport and other ministries and branches continue to pay attention to and create conditions for resources and investment procedures to continue implementing investment projects in the next berths. of Hai Phong international gateway port according to modern technology, applying advanced information technology, improving competitiveness with seaports of countries in the region and the world.

As a locality with a large sea and island with 126km of coastline and more than 4,000km2 of sea surface, Hai Phong is the largest port city in the North, an important traffic hub and the main gate to the sea of the Northern provinces. , fully converging conditions to become a logistics service center.

"Currently, investors of ports from 3 to 6 in Lach Huyen Wharf are implementing procedures according to regulations. It is expected to start construction in early 2022 and bring four berths in turn, from wharf 3 - 6 into operation in the period of 2023 - 2025".
The transportation.
According to the Ministry of Transport, two starting berths No. 1 and No. 2 in Lach Huyen Wharf Area have been invested by Saigon Newport Corporation with modern and advanced loading and unloading equipment in the world, bringing It has been put into operation since May 2018 with a design capacity of about 1.1 million TEU/year.

The volume of cargo through 2 ports in 2019, 2020 and the first 9 months of 2021 is 353,632 TEU respectively; 659,684 TEU and 520,000 TEU, up 13.5% over the same period in 2020.

Ports No. 3 and No. 4 in Lach Huyen Wharf Area were approved by the Prime Minister with the investment policy in Decision No. 1323/QD-TTg dated October 9, 2019 and assigned Hai Phong Port Joint Stock Company as the investor. investment, with a total investment of more than VND 6,946 billion. However, after nearly 2 years of approving the policy, due to many obstacles, the speed of investment and construction of container terminals is currently too slow, the project has not been started yet.

Besides, berths 5 and 6 were approved by the Prime Minister for investment policy in Decision No. 299/QD-TTg dated March 4, 2021 and assigned Hateco Group Joint Stock Company as an investor, with total investment capital of 6,425 billion VND. The Management Board of Hai Phong Economic Zone has just held a conference to award the investment registration certificate for the construction investment project of berths 5 and 6 in September 2021.

The Ministry of Transport added that, in order to serve the operation of ports from 3 to 6 in Lach Huyen Wharf Area, the Ministry also approved the investment policy of the construction investment project "Road of Transport". after wharf 3 to berth 6 in Lach Huyen wharf area, Hai Phong seaport” with the scale of investment following the existing route from the end of wharf 2 to wharf 6 and allocating capital in the public investment plan. mid-term 2021 - 2025, to implement investment in sync with the progress of port terminals No. 3 - 6.

Currently, the master plan on development of Vietnam's seaport system for the period of 2021 - 2030 with a vision to 2050 has been approved by the Prime Minister in Decision No. 1579/QD-BGTVT dated September 22, 2021.

The Ministry of Transport is assigning the Vietnam Maritime Administration to prepare a "Detailed plan for groups of seaports, ports, wharves, floating terminals, water areas, land and water areas in the period of 2021 - 2030, with a vision to 2050". and "Detailed planning for development of seaport land and water areas in the period of 2021 - 2030, with a vision to 2050" as a basis for planning management and consultation on investment policy in new ports. according to Lach Huyen Wharf.

Đầu năm 2022, khởi công 4 bến cảng container hơn 13.000 tỷ đồng tại Hải Phòng

Bộ Giao thông vận tải cho biết, nhà đầu tư đang rốt ráo triển khai thủ tục theo quy định để khởi công 4 bến cảng còn lại từ số 3 - 6 thuộc Khu bến Lạch Huyện, Hải Phòng vào đầu năm 2022, sớm thông luồng đón tàu lớn...

vneconomy.vn

Hai phong is the second most important city in North VN( where Vinfast HQ is located) after Ha Noi, capital of VN.

 

[Nilgiri]

Exports to the US reached nearly 5.1 billion USD
October 31, 2021 (GMT+7)

According to Dong Nai Statistics Department, in the first 10 months of 2021, Dong Nai's export turnover to the United States reached nearly 5.1 billion USD, up more than 20% over the same period last year.

The United States is Dong Nai's largest commodity import partner, accounting for nearly 29% of the province's total export turnover. The goods that Dong Nai enterprises export a lot to this country are: textiles, footwear, wood products, textile fibers, machinery, equipment, tools and spare parts, iron and steel products, strong fabrics, fabrics. Skill.

In the export turnover to the US, about 80% of enterprises with foreign direct investment in Dong Nai. Besides, the US is Dong Nai's big export surplus market with about US$3.8 billion. Businesses in the province import a lot of cotton, machinery and equipment, animal feed, and corn from the United States.

Xuất khẩu vào Hoa Kỳ đạt gần 5,1 tỷ USD

Theo Cục Thống kê Đồng Nai, trong 10 tháng năm 2021, kim ngạch xuất khẩu của Đồng Nai vào Hoa Kỳ đạt gần 5,1 tỷ USD, tăng hơn 20% so với cùng kỳ năm trước.

baodongnai.com.vn

Dong nai is a company in Vietnam? Or a province?

 

[Viva_vietnamm]

Dong nai is a company in Vietnam? Or a province?

Its a province, next to Ho CHi Minh city, bro