Vietnam Vietnam Economy Thread

[Viva_vietnamm]

Samsung chief expected to visit Vietnam to seek overseas biz opportunities
Posted : 2022-10-30 15:47
Updated : 2022-10-31 13:17

Samsung Electronics Chairman Lee Jae-yong / Yonhap

By Kim Hyun-bin

Samsung Electronics Chairman Lee Jae-yong is expected to travel to Vietnam to strengthen global management and seek new business investment opportunities there, according to industry officials, Sunday.

Plans for Lee to visit Samsung Electronics' Vietnam R&D center at the end of this year is being discussed. Since March 2020, Samsung Electronics has invested $220 million to build the R&D center in Hanoi, and aims to complete construction by the end of this year.

Lee was originally scheduled to visit Vietnam to attend the groundbreaking ceremony of the R&D center in February 2020, but the event was canceled due to the spread of COVID-19. Instead, he visited Vietnam in October of the same year. During that visit, after reviewing the progress of the R&D center construction, Lee said in a private meeting with Prime Minister Nguyen Xuan Phuc, "We will support the new R&D center to become a base for Samsung Group's research and development."

Currently, Samsung Electronics operates two smartphone factories and TV and home appliance factories in Vietnam. The Vietnam plant produces more than 50 percent of Samsung Electronics' smartphones sold worldwide.

This year also marks the 30th anniversary of the establishment of diplomatic ties between Korea and Vietnam, raising the possibility of the chairman discussing expanded business cooperation with Vietnam's political and related figures.

Considering that he has to attend a trial every Thursday on allegations of a fraudulent merger between Cheil Industries and Samsung C&T and accounting fraud at Samsung Biologics, countries in relatively close proximity such as Japan, China, and India are also considered as destinations for the chairman's overseas business trips.

Lee was appointed as chairman without fanfare on Thursday and replaced his inaugural address by sharing his remarks in front of 300 former and current Samsung executives on the company's intranet system on Oct. 25 during the second-anniversary of late Samsung Electronics Chairman Lee Kun-hee's death.

"Recently, looking at the global market and domestic and overseas business sites, I felt desperate," Lee said. "The more difficult the times are, the more we need to prepare ahead of time and develop our skills."

Samsung chief expected to visit Vietnam to seek overseas biz opportunities

Samsung Electronics Chairman Lee Jae-yong is expected to travel to Vietnam to strengthen global management and seek new business investment opportunities there, according to industry officials, Sunday. Plans for Lee's visit to Samsung Electronics' Vietnam R&D center at the end of this year is...

www.koreatimes.co.kr

 

[Nilgiri]

@Viva_vietnamm

How is life in Vietnam going like now bro? Is everything back to normal or are there lockdowns like China is still doing?

I saw a few travel vloggers visting Vietnam now and they had a good time overall....and things seem to be back to normal.

That means VN economy has good base to do well and attract more business away from China (which still wants extreme zero covid policy inside CCP power dynamic).

 

[Viva_vietnamm]

@Viva_vietnamm

How is life in Vietnam going like now bro? Is everything back to normal or are there lockdowns like China is still doing?

I saw a few travel vloggers visting Vietnam now and they had a good time overall....and things seem to be back to normal.

That means VN economy has good base to do well and attract more business away from China (which still wants extreme zero covid policy inside CCP power dynamic).

Yep, no more Covid lockdown in Vietnam now. Everyone can receive a third Covid vaccine dose. But due to the low demand on shoes, clothes from EU market, so some shoes, clothes factories have to close .

Overall, VN economy is still a bright spot thanks to more FDI investment from Samsung, LG, LEGO, Xiaomi etc.

 

[Viva_vietnamm]

Korea ACE Technologies Corporation wants to set up an R&D center in Vietnam

- 11:16 November 16, 2022
(VNF) - In addition to the plan to build a research and development (R&D) center in Vietnam, ACE Technologies Group also orients to develop production in Vietnam and use Vietnamese technical human resources.
Deputy Minister of Information and Communications Pham Duc Long recently had a meeting with Mr. Koo Gwan Young, Chairman of ACE Technologies, Korea.

ACE Technologies Corporation was established in 1980 in Korea, operating in the field of research, development, production and sales of telecommunications electronic products, with the main products being radio blocks (RU, MMU). , RF devices (antennas, filters ...) of BTS stations and specialized telecommunication equipment systems, providing the world's leading telecommunications equipment manufacturers.

At the meeting, the leader of ACE Technologies Group said that the enterprise has invested in Vietnam since 2015 by building a production base in Dong Van II industrial park (Duy Tien, Ha Nam) with a total investment capital. $60 million, specializes in the production of wireless antenna stations for smartphones and radio frequency (RF) filters.

Leaders of ACE Technologies also shared information about the orientation and construction process of ACE's research and development center in Vietnam in the coming time. The development of production in Vietnam, using Vietnamese technical human resources is also the development orientation of ACE Technologies.

Speaking at the meeting, Deputy Minister Pham Duc Long highly appreciated ACE Technologies Group's interest in investing in RF field in Vietnam, especially investment in human resource development in Vietnam.

The Deputy Minister expressed his hope that ACE Technologies will continue to cooperate with the Vietnamese side in research and development on RF and 5G technology, and cooperate with the Academy of Posts and Telecommunications Technology to strengthen human resource training in the electronics field. , telecommunications and ICT.

Before that, another Korean technology corporation has implemented the construction of a research and development (R&D) center in Vietnam, Samsung. The location of this center is located in Tay Ho Tay urban area, Hanoi, with an investment scale of about USD 220 million with a total construction area of 11,603m2 and a floor area of 79,511m2.

Samsung's R&D center is designed with 16 floors, 3 basements and is expected to be completed by the end of 2022. It is expected that when put into operation, the center will increase its workforce size from 2,200 people to 3,000 people. .

Thêm một 'ông lớn' công nghệ Hàn Quốc muốn xây trung tâm R&D tại Việt Nam

(VNF) - Bên cạnh kế hoạch xây dựng trung tâm nghiên cứu và phát triển (R&D) tại Việt Nam, Tập đoàn ACE Technologies cũng định hướng phát triển sản xuất tại Việt Nam và sử dụng nguồn nhân lực kỹ thuật Việt Nam.

vietnamfinance.vn

 

[Viva_vietnamm]

The reason Samsung president came to Vietnam

December 22, 2022
Mr. Lee Jae-yong left for Hanoi from December 21 to attend the inauguration of the company's largest R&D center in Southeast Asia.

Samsung President Lee Jae-yong at Gimpo Airport to move to Vietnam. Photo: ChosunBiz.

According to Korea's JoongAng newspaper, Samsung Electronics Chairman Lee Jae-yong left for Hanoi on December 21. He is expected to attend the inauguration ceremony of Samsung's research and development (R&D) center in Vietnam on December 23.

Reporters caught Mr. Lee at Gimpo International Airport on the afternoon of December 21 (local time). Speaking to reporters, the chairman of Samsung Electronics only said it was a "nice trip" and "the research center is nearing completion".

Accompanying Mr. Lee were 15 other Samsung executives, including Samsung Electronics Vice President Chung Hyeon-ho, Samsung Electronics Chairman Roh Tae-moon and Samsung Display President Choi Ju-seon. All refused to answer questions about their work schedules in Vietnam.

According to ChosunBiz, Mr. Lee and Samsung leaders went to Vietnam by Korean Air commercial plane, not a special plane. The Korean company once owned three planes, but sold them all to Korean Air.

Samsung's R&D center in Vietnam was started in March 2020 in the urban area west of West Lake, located on an area of 11,603 m2, a total floor area of 79,511 m2, including 3 basements and 16 floors.

With an investment scale of about USD 220 million, this is Samsung's largest R&D center in Southeast Asia. When in operation, the center is expected to welcome about 3,000 employees, focusing on research on artificial intelligence (AI), 5G networks, Big Data, and mobile products such as smartphones and tablets.

A source in the business world said that before and after the inauguration ceremony on December 23, Mr. Lee could meet with government leaders to discuss Samsung's next investment projects in Vietnam, including semiconductors. guide.

Previously, Mr. Lee Jae-yong and President Nguyen Xuan Phuc met in 2018 and 2020 to discuss Samsung's investment projects. Mr. Lee last came to Vietnam in October 2020 to inspect the construction of the R&D center.

Before going to Vietnam, Mr. Lee had his first business trip after taking office, to inspect the construction of the Barakah nuclear power plant in Abu Dhabi (UAE) on December 6. This is the first nuclear power plant project built by "Team Korea" corporations, including Samsung C&T.

On December 17 in Seoul, Mr. Lee met Oliver Zipse, CEO of BMW to strengthen cooperation between the two companies, including an agreement to equip Samsung SDI's P5 batteries in BMW's latest electric vehicles.

Due to departing for Vietnam from December 21, Mr. Lee will be absent from the trial of the unfair merger between Samsung's branches, scheduled to be held on December 22. This is the last trial of the year as the courts will be closed for the next two weeks. The next trial is expected to take place in mid-January 2023

Lý do chủ tịch Samsung sang Việt Nam

Ông Lee Jae-yong lên đường sang Hà Nội từ ngày 21/12 để tham dự lễ khánh thành trung tâm R&D lớn nhất của công ty tại Đông Nam Á.

zingnews.vn

 

[Viva_vietnamm]

Quanta Computer may build Vietnam plant to make MacBooks​

By Tuong Nguyen
Wed, December 28, 2022 | 6:33 pm GTM+7
Taiwan’s Quanta Computer, a world-leading contract laptop maker, is likely to set up a manufacturing plant in northern Vietnam where Apple supplier Foxconn is set to make MacBooks in the second half of 2023.

A MacBook Pro. Photo courtesy of Apple.​

Quanta, which supplies top American brands like Apple, Dell, and HP, is mulling over such plant construction to mainly perform orders for Apple MacBooks, according to a report Wednesday by Taiwanese leading tech magazine Digitimes, which quoted industry sources.

A specific timetable for the heavyweight has not been known. Quanta’s yearly sales revenue is more than $10 billion, according to the producer.

The Digitimes report came while Vietnam is emerging as Apple’s next production hub, with Taiwan-based Foxconn planning to start producing MacBooks in the Southeast Asian country for the first time as early as around May.

Major electronics manufacturers in Apple’s supply chain are expected to speed up shifting their production lines out of China to diversify manufacturing. However, the relocation of the supply chain would take years to go, according to international experts.

Vietnam is already home to facilities of major assemblers of Apple products like Foxconn, Pegatron, Wistron, Luxshare Precision, Compal Electronics, Goertek and BYD. Among them, Foxconn, Luxshare, and Compal are mainly responsible for MacBook and Apple Watch assembly, while Luxshare and Goertek are major AirPod suppliers.

As Apple has recently tapped Foxconn to make MacBooks in Vietnam, the Apple products manufactured in the country are MacBooks, iPads, AirPods, and Apple Watches. The list may include HomePods in the future, according to a CNBC report on December 20.

Compal Electronics signed a deal on December 16 to lease 40 hectares of land in Thai Binh province for its new $260 million investment to build a new factory. The facility’s annual capacity will include 2.1 million smartwatches, 70,000 cable modems, 100,000 wireless wi-fi routers, 10,000 5G network frequency modules, 1.1 million Internet of Things (IoT) devices, 1.25 million tablets, and others.

Quanta Computer may build Vietnam plant to make MacBooks

Taiwan’s Quanta Computer, a world-leading contract laptop maker, is likely to set up a manufacturing plant in northern Vietnam where Apple supplier Foxconn is set to make MacBooks in the second half of 2023.

theinvestor.vn

 

[Viva_vietnamm]

Exclusive-Apple supplier BOE plans new factories in Vietnam -sources​

Wed, January 11, 2023 at 10:13 AM GMT+7·2 min read


By Francesco Guarascio

HANOI (Reuters) - Chinese display maker BOE Technology Group Co Ltd, a supplier of both Apple Inc and Samsung Electronics Co Ltd, plans to invest a substantial sum to build two factories in Vietnam, two people familiar with the matter said.
The investment may total up to $400 million, one of them said.
The plan underscores efforts by technology firms led by U.S. iPhone maker Apple and Taiwanese device assembler Foxconn to lower supply chain exposure to China amid trade and geopolitical tension between Beijing and Washington and production disruption caused by China's COVID-19 containment measures.

BOE is in talks to rent dozens of hectares of land in north Vietnam to add to its relatively small plant in the south that supplies mostly television screens to South Korea's Samsung and LG Electronics Inc, the people said, declining to be identified as negotiations were confidential.
BOE declined to comment.
Northern Vietnam has in recent years attracted significant investment from electronics giants, becoming a major hub for the production of smartphones, computers and cameras, including flagship goods from Apple and Samsung.
Hon Hai Precision Industry Co Ltd (Foxconn) and China's Luxshare Precision Industry also make or plan to assemble a number of Apple products in the area such as laptop and tablet computers.
BOE plans to rent up to 100 hectares and use 20% for a plant making remote control systems at a cost of $150 million, one of the people said.
The rest would be for displays, with BOE spending $250 million to build a plant on 50 hectares while suppliers would use the remaining 30 hectares, all by 2025, the person said.
BOE plans to make the more sophisticated organic light-emitting diodes (OLED) screens at the site rather than liquid-crystal displays (LCDs), the person said.
Apple, which included BOE in its 2021 list of manufacturing partners, uses OLED screens for its latest iPhone smartphones.

Exclusive-Apple supplier BOE plans new factories in Vietnam -sources

Chinese display maker BOE Technology Group Co Ltd, a supplier of both Apple Inc and Samsung Electronics Co Ltd, plans to invest a substantial sum to build two factories in Vietnam, two people familiar with the matter said. BOE is in talks to rent dozens of hectares of land in north Vietnam to...

news.yahoo.com

 

[Viva_vietnamm]

Top selling cars in December 2022: VinFast (Vietnam EV) suddenly occupies two positions​

BUSINESSHicks World 14 days ago




VinFast has achieved a record of electric vehicles sold in December 2022


(Dan Tri) – The list of 10 best-selling cars in Vietnam in December 2022 has a strong change compared to the previous month, most notably the appearance of some new products for the first time.
According to the sales results announced by the Vietnam Automobile Manufacturers Association (VAMA), TC Motor and VinFast, the car market in the last month of 2022 grew strongly compared to the previous month. The motivation comes from the fact that many families have the need to buy a car to welcome the Lunar New Year.
This shows that when the list of 10 best-selling car models in Vietnam in December 2022, all the top 5 products have sales exceeding 2,000 units.
Consumption of Hyundai Accent in December unexpectedly increased by nearly 40%, reaching 2,929 vehicles and occupying the number one position in the top selling cars. Sales of Toyota Vios also increased by 39%, to 2,764 vehicles in the last month of 2022, chasing rivals and ranked 2nd.
The 3rd place on the list of best-selling cars suddenly belongs to a completely new name, which is VinFast VF 8. Due to solving problems related to the supply chain of spare parts, the Vietnamese car company has accelerated progress. production of electric cars to serve customers who have made a deposit.

VinFast has set a record for the number of electric vehicles sold in December 2022 (Photo: Gia An).
The best-selling capital in Vietnam in November, Corolla Cross dropped to 4th place in December, although consumption recorded a slight increase, reaching 2,479 vehicles. This is also the last month Corolla Cross enjoys the old price because from 2023, this high-rise model will be from 9-14 million VND, with some new equipment.
5th place belongs to Ford Ranger with 2,424 vehicles sold, up 21.5% compared to the previous month. This success is due to the fact that in the last month of 2022, this pickup model is applied by some dealers with discount promotions, mainly in low versions.
6th place on the list of 10 best-selling cars in Vietnam belongs to Hyundai Creta. Thanks to a slight discount at the dealer, the consumption of this B-SUV model continued to grow in the last month of the year, reaching 1,877 vehicles.

Hyundai Creta has emerged as a “new force” in the urban high-rise car segment (Photo: TC Motor).

Closely chasing Creta is Mitsubishi Xpander with sales in December 2022 reaching 1,856 vehicles. Unlike the names mentioned above, the sales of this popular small MPV model decreased by more than 21% compared to the previous November.
Ranked 8th is VinFast VF e34 with 1,548 vehicles delivered to Vietnamese customers in December 2022, a sharp increase compared to the previous month. This is the second time this electric SUV has appeared on the top of the best-selling cars, the first time was in June 2022 with sales of 782 units.
In addition to Xpander, Toyota Veloz Cross is also a model that recorded a decrease in consumption in the last month of 2022, occupying 9th place on the list of best-selling cars. The main reason is that the number of imported cars is not much.
With the launch of the assembly at the end of December 2022, sales of Veloz Cross in 2023 are expected to grow strongly, enough to compete directly with Xpander.
The last position on the top selling cars of December 2022 belongs to Honda City, once again appearing after many months of absence. Compared to the previous November, sales of this B-class sedan doubled, all thanks to a preferential program of up to VND 60 million from the dealer.

https://vietnam.postsen.com/business/240368/Top-selling-cars-in-December-2022-VinFast-suddenly-occupies-two-positions.html