INDUSTRY

(VEN) - Vietnam has been a bustling market for manufacturing industries with great potential to attract investment capital from countries around the world. This year marks breakthroughs for the Vietnamese electronics industry, including the shifting production of electronic components from international markets to Vietnam. The establishment of the Vsmart smartphone manufacturing factory and the signing of the EU-Vietnam Free Trade Agreement (EVFTA) promise to open up opportunities for the Vietnamese electronics industry. At the Vietnam Electronics Forum 2019, themed “Linkage and dialogue between enterprises in the global supply chain”, Nguyen Thi Xuan Thuy from the Ministry of Industry and Trade’s Industry Agency said that when the Vietnamese electronics industry builds a network of domestic suppliers with global competitiveness, it would help limit risks, reduce delivery time and save costs. Trade tensions between the US and China have created conditions for Vietnam … [Read more...] about Electronics industry seeks larger share of global supply chain

(VEN) - Vietnam Economic News’ My Phung spoke with Vu Trong Tai, General Manager, Reed Tradex Vietnam LLC, about the highlights of METALEX Vietnam 2019 and future development trend of the industry. Vu Trong Tai, General Manager, Reed Tradex Vietnam LLC Can you highlight prominence of METALEX Vietnam 2019? METALEX Vietnam, a specialized international exhibition on machine tools and metalworking solutions in Vietnam will be held October 10-12, 2019 in Ho Chi Minh City. METALEX Vietnam 2019 will showcase improvements in machine tools, precision mechanics and mechanical processing technology with the participation of 500 brands from 25 countries. It expects to welcome 10,000 specialized visitors. With the theme, “Rising with innovations”, the exhibition will highlight the model and application of the smart factory. In addition, to support Vietnam’s small and medium enterprises by expanding trade opportunities, connect with international partners and … [Read more...] about METALEX Vietnam, a steadfast ally of Vietnamese manufacturers

The Hanoitimes - Visa and HCMC DOT intend to collaborate to increase the acceptance of digital payments and implement a secure open-loop payment system across all transportation networks. VISA prepares smart financial management for Vietnamese students VISA to help Vietnamese people access financial solutions The Ho Chi Minh City Department of Transportation (HCMC DOT) and Visa, a leading digital payments platform, have signed a Memorandum of Understanding (MOU) to drive the development and adoption of digital payments to achieve smart mobility in the city.   Illustrative photo This MOU is in support of Ho Chi Minh City (HCMC)’s plans to become a smart city by 2017 – 2020, with a vision to 2025. As part of this, Visa and HCMC DOT intend to collaborate to increase the acceptance of digital payments and implement a secure open-loop payment system across all transportation networks. Visa Country Manager for Vietnam and Laos Dang Tuyet Dung said Visa is … [Read more...] about Ho Chi Minh City and Visa sign MOU to deliver smart mobility

The Hanoitimes - Vietnam likely to face severe power shortage from 2021 as the consumption keeps growing while the construction of power plants remains sluggish. Vietnam will face severe power shortages from 2021 as electricity demand outpaces construction of new power plants across the country, Reuters quoted the Ministry of Industry and Trade (MOIT) as saying.   Vietnam faces severe power shortage from 2021 Vietnam’s demand for electricity will exceed its supply by 6.6 billion kilowatt hours (kWh) in 2021, increasing to 15 billion kWh by 2023, equivalent to about 5% of estimated demand for electricity then. The reasons are largely the delay of many energy projects and capital shortage. “Developers are facing difficulties securing sufficient funds from local sources, and the government has limited its guarantee for foreign loans,” the ministry said. Vietnam will need an average of US$6.7 billion a year to expand its annual power generation capacity … [Read more...] about Power shortage casts shadow on Vietnam from 2021: Ministry

The Hanoitimes - Liquefied natural gas (LNG) has a greater role in feeding Vietnam`s growing demand for electricity amid its efforts to reduce coal power. Vietnam plans scale LNG imports from US France’s Total considers US$1.2-billion LNG-power complex project in Vietnam Storm Capital Partners plans to construct floating LNG power plant in Vietnam Vietnamese, Russian companies ink LNG deal Strong demand for liquefied natural gas (LNG) from gas-fired power projects in Vietnam leaves this sector potential for foreign investors as some entered the market with big deals and bright prospects ahead.    A liquefied natural gas (LNG) project in Vietnam Vietnam plans to import one million metric tons (mt) per year of LNG by 2021, around four million mt/year by 2025, and between six million mt/year and 10 million mt/year from 2026 to 2035, according to the government’s gas market development master plan. The country’s first LNG import facility, … [Read more...] about Vietnam LNG sector: Unlocking potential for foreign investors