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.
Nike, Adidas supplier lays off 2,000 workers as orders plunge
Taiwanese shoemaker Pou Yuen Vietnam Co. Ltd., the largest employer in HCMC, has announced to lay off over 2,000 workers, blaming it on orders drying up.
Foxconn leases new site in Vietnam as Apple contractor continues to diversify production away from China
Taipei-listed Foxconn, formally known as Hon Hai Precision Industry, has signed a lease with Saigon-Bac Giang Industrial Park Corp. Foxconn’s latest deal in Vietnam comes after its iPhone plant in Zhengzhou was rocked last year by worker unrest amid a…
Acclaimed Vietnamese discusses future of local film industry
When the CJ Cultural Foundation and CJ CGV Vietnam started the CJ Short Film Project in Vietnam in 2017, the film-makers assigned to the selection and mentoring committees had no clue their choices would be so successful as to earn acclaim…
Vietnam dreams of becoming world’s next factory. But at what cost ?
« Do you think Vietnam has the potential to become the world’s next factory ? »
Global tech investors continue to bet on Vietnam
Vietnam’s growing capacity to make complex tech products is attracting more foreign investors who are setting up factories.
Why did Lego choose Vietnam, not China, to build first carbon-neutral factory ?
Toy behemoth’s move reflects how like-minded multinational firms are diversifying supply chains away from what has been known for decades as the world’s factory . Lost investment dollars amid the US-China trade war and pandemic have sparked concerns within China,…
Vietnam emerges as high-tech manufacturing hub
Global tech giants have continued to expand operations in Vietnam as the country becomes an increasingly trusted advanced technology manufacturing hub.
Apple to start MacBook production in Vietnam next year
Apple’s MacBooks are set to be produced in Vietnam starting next year for the first time, the latest of several Apple products that will be shifted to the country.
$148 mln Can Tho industrial park to begin construction in 2023
The first phase of the Vinh Thanh industrial complex in the Mekong Delta’s Can Tho City would cost VND3.7 trillion ($148.85 million) and begin construction next year, authorities said.
Vietnam tech firm FPT produces country’s first semiconductor chips
FPT Semiconductor, a unit of Vietnam’s leading tech company FPT, launched its first line of semiconductor chips used in medical devices on Wednesday (Sep 28), part of the company’s efforts to enter the competitive global industry.
Chinese wary of Vietnam’s potential as new world factory
International media has continuously reported on the great chance Vietnam might stand to replace China as the world’s production center.
Vietnamese workers earn half of Thai counterparts in Japanese companies
Vietnamese workers earn half of their Thai counterparts in Japanese companies as they can only participate in sectors with low-added value, a study has found.
Make defense industry Vietnam’s spearhead
The defense industry needs to be closely linked with other sectors to serve both military and civilian purposes, Prime Minister Pham Minh Chinh said.
Vietnam is growing at 7%. Hanoi can do a lot better
Vietnam is buzzing. Global companies from Samsung Electronics Co. to Lego Group are opening mega factories there.
Labor shortage plagues Vietnam industries
Both foreign and local companies in various industries continue to grapple with labor shortages as they aim to expand activities in a recovering economy.