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Nokia to Build US$275.8 Million Facility in Vietnam
The Finnish multi-national communications corporation Nokia just announced its US$275.8 million investment plan to build up a new manufacturing plant in Vietnam’s Bac Ninh Province near Hanoi, hoping the new facility will “play a key role” to “connect the next billion to the web” via cell phones.
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Vietnam Opens Its First Commodity Exchange
Jan. 14 – Licensed last year by the Ministry of Industry and Trade (MoIT), Vietnam’s first commodity exchange became operational on January 11 in Ho Chi Minh City. The Vietnam Commodity Exchange (VNX), with a registered capital of US$7.5 million, is allowed to exchange all types of commodities under MoIT regulations. According to its general […]
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Hanoi to Boast 11 New Industrial and High Tech Zones in Next Five Years
Nov. 19 – Plans have been laid to create 11 new industrial zones and high tech parks in the Vietnamese capital of Hanoi over the next five years in a bid to attract further domestic and foreign investment, Nguyen Xuan Chinh, head of the Hanoi Industrial and Export Processing Zone Management Board, said on Thursday. […]
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New Minimum Capital Requirement May Soon Be Instituted for Companies Looking to List in Vietnam
Nov. 18 – Vietnam’s State Securities Commission is looking to increase the minimum capital requirement for companies wanting to list on the nations bourses. In a new draft currently being prepared by the stock regulator, any company that wishes to be listed on the Ho Chi Minh Stock Exchange will need to have a minimum […]
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Gov’t Approves Plans for Two New International Airports
Nov. 17 – The Vietnamese government approved and outlined plans for two new international airports in a meeting chaired by Deputy Prime Minister Hoang Trung Hai on Monday – one in the southern province of Dong Nai and one in the northern port city of Haiphong. Construction on Dong Nai’s Long Thanh International Airport has […]
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Vietnam’s Exports to Hit US$70 Billion By Year End
HANOI, Oct. 27 – Vietnam generated US$57.8 billion in export revenues over the first 10 months of the year, a 23.3 percent year-on-year increase, Deputy Minister of Industry and Trade Nguyen Thanh Bien said at a meeting in Hanoi on Tuesday. Bien announced at the meeting that this is likely to continue, resulting in total […]
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Japan and Vietnam to Jointly Develop Rare Earth Deposits
Oct. 22 – Japan and Vietnam plan to co-develop rare earth deposits in the Southeast Asian nation as China, the world’s leading supplier of such minerals, continues to cut its supply. A joint development agreement is expected to be signed on October 31, when Japanese Prime Minister Naoto Kan is scheduled to travel to the […]
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Vietnam Takes First Step into Wind Turbine Industry
Oct. 18 – Vietnam’s first wind power turbine production factory, a US$61 million dollar project, was inaugurated at the Nomura Industrial Zone in the port city of Haiphong on October 15. Invested in by General Electric, the factory is the first step of a larger initiative to address growing global demand for clean energy sources.
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Lam Dong Province Seeking FDI for Tourism Complex
Sept. 30 – Lam Dong Province in central Vietnam is seeking local and foreign investors to support a 1,000 hectare tourism complex. Local authorities are offering 24 projects for investment amounting to a total of US$1.87 billion. The majority of those projects will involve huge investments in the trade and tourism sectors.
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Authorities Promise to Lower Port Fees
Sept. 23 – Vietnam’s Ministry of Finance has promised to lower port fees in response to letters received from the European Chamber of Commerce in Ho Chi Minh City in April and August. The EuroCham letters pointed out that fees for the Cai Mep–Thi Vai port are as much as two to four times more […]