Vietnam’s bid to exploit US-China chip tensions confronts labour hurdles
Hanoi is hoping to benefit from the push to de-risk from China amid intensifying geopolitical tensions.
The BYD of Vietnam just reported a huge loss for 2023—a whopping $2.4 billion
VinFast’s revenue growth is fast, but the electric-vehicle maker’s costs grow faster. Vietnam’s Tesla challenger is building a $2 billion manufacturing plant in North Carolina, is poised to break ground on another in India’s Tamil Nadu, and has yet another planned in Indonesia.
Vietnam dangles semiconductor incentives to draw foreign companies
Hanoi pledges ambitious programmes as it competes with Asian rivals such as Malaysia in burgeoning chip sector.
Chipmakers among 15 US firms eyeing $8 bln Vietnam investment
Fifteen U.S. companies, including semiconductors firms, have expressed interest in investing $8 billion in Vietnam in clean energy infrastructure, contingent on the country’s progress on renewable energy rules, a senior U.S. official said on Friday.
Boeing to boost manufacturing in Vietnam as supplier builds plant
South Korean aero parts supplier KP Aero Industries said on Wednesday (Jan 24) it plans to invest US$20 million in a Vietnam factory to assemble components for Boeing planes, a move that would expand the US aviation firm’s manufacturing network…
Deputy minister proposes establishment of Vietnam’s national carbon credit exchange
Vietnam should consider creating a national carbon credit exchange as it moves toward developing a low-carbon economy and proactively coping with climate change, a financial official told a meeting on Monday.
Vietnam’s VinFast to build a $2 billion EV plant in India as part of its global expansion
Vietnamese automaker VinFast says it plans to spend up to $2 billion to build an electric vehicle factory in India, the world’s third-largest auto market by sales.
Factories left understaffed as revised insurance law drives workers away
Despite signs of business recovery, factory workers are quitting in hordes to make sure they can get a one-time social insurance withdrawal before the law is changed.
Semiconductors a future key industry of Vietnam
To maintain a high growth rate of exports, it was necessary to target new trends, including semiconductors, said experts.
Vietnam’s path to multibillion-dollar semiconductor industry
Vietnam has a rapidly developing semiconductor ecosystem and a window to elevate its standing in the global supply chain.
US chipmakers march south as Vietnam subsidizes its tech future
Just as Vietnam comes into its unique role in China-U.S. relations, Hanoi’s policymakers are trying to find their niche in the global semiconductor industry.
Biden courts Vietnam as US chases alternatives to Chinese factories
President Joe Biden travelled after the G20 to a Vietnam that’s looking to dramatically ramp up trade with the United States — a sign of how competition with China is reshaping relationships across Asia.
Engineer shortage may harm US plan to turn Vietnam into chips powerhouse
A chronic shortage of engineers in Vietnam is emerging as a major challenge to the growth of its semiconductor industry and to U.S. plans of fast-tracking the Southeast Asian nation as a chips hub to hedge against China-related supply risks.
Adidas supplier in HCMC to lay off another 1,200 workers
Taiwanese footwear maker Pouyuen, the largest employer in Ho Chi Minh City, will lay off more than 1,200 workers over lack of orders.
Vietnam’s largest refinery begins shutting down for maintenance
Vietnam’s largest oil refinery has shut down some of its units, beginning a 55-day total shutdown for major maintenance, a company source said on Wednesday.
Rare earths magnet firms turn to Vietnam in China hedge
Korean and Chinese magnet firms, including an Apple supplier, are set to open factories in Vietnam, according to documents and people familiar with the plans, amid a push to diversify supply chains away from China and defend against Sino-U.S. tension.
Vietnam Vingroup’s ambition to take on Tesla hits bumpy road
Vietnamese conglomerate Vingroup has made a big bet on the global shift to electric vehicles. But its EV business has struggled to take off, bogged down by a domestic market slow to embrace electrification and a troubled rollout in the…
Vietnam’s Vinfast starts construction of EV factory in the US
Vinfast, a Vietnamese electric car manufacturer under Vingroup, held a ground-breaking ceremony for an electric car factory in North Carolina, US on Friday. The event marked an important step in Vingroup’s strategy for market expansion and brand development.
The carmaker from Vietnam looking to take on Tesla
VinFast wants US customers and investors for its EVs but has hit bumps in the road.
Vietnam’s top oil refinery to avert shutdown as cash flow improves
Project led by Japan’s Idemitsu expected to make November debt payment
How Vietnam can disrupt China’s dominance in EVs
There’s a long way to go, but the country has most of the ingredients it needs to be a significant player in global EV supply chains.
Vietnam shoemaker to cut about 6,000 jobs on low demand
One of Vietnam’s largest shoe manufacturers for brands such as Nike Inc and Adidas AG would cut thousands of jobs at the end of next month, blaming a slump in orders, Vietnamese state media reported on Saturday.
US companies including Netflix and Boeing join ‘biggest’ business mission to Vietnam
Dozens of American companies are in Vietnam this week in hopes of pushing further into the fast-growing Southeast Asian economy, which has emerged as an attractive potential alternative to China as companies seek to diversify their markets and supply chains.
Chinese suppliers race to Vietnam as COVID let-up opens escape route from Sino-U.S. trade war
Vietnam has enjoyed a wave of investment from China since its neighbour abruptly canned its strict virus-containment strategy and unleashed pent-up interest from companies – and their suppliers – fleeing the impact of Sino-U.S. trade friction.
Factories continue to cut workforce as orders remain elusive
Many factories continue to lay off or furlough workers as order books remain anemic and show no signs of recovery.
Trying to replace China’s supply chains ? Don’t bother
Vietnamese factories were supposed to save globalization. It doesn’t look like that’s happening.