Corporate

Molex's manufacturing plant in Ha Noi. — Photo courtesy of the company Molex, a global electronics leader and connectivity innovator, is expanding its existing manufacturing operations in Ha Noi to include a new 16,000 square metre facility, the company has announced. The company expects the expansion will support over 200 new jobs in advanced high-tech manufacturing. Molex opened its first facility in the country in 2007. The expansion will help support the growing demand for its products that are used in many different applications, which include smartphones, TVs, home appliances, test equipment and medical devices, the company said in a statement. “Molex has operated in Viet Nam for 15 years and this expansion represents our long-term commitment to the country and the community,” said Joe Nelligan, CEO of Molex. “Expanding our manufacturing footprint in Ha Noi gives us added capability and capacity in the Asia Pacific region as we plan to grow with our customers and … [Read more...] about Molex expands its manufacturing plant in VN

In light of the company’s fresh trajectory, next year HAGL would launch into the market with around 1,000 stores selling pork products from banana-eating pigs, of which franchised stores are accounting for 80 per cent. HAGL's Bapi brand aims to enhance customers' experience Since the economic downturn back in 2008, Vietnam’s real estate market weathered stormy times. In late 2012, HAGL chairman Doan Nguyen Duc took a breakthrough decision of pivoting from real estate to planting rubber. By 2012, the company posted revenue touching $159.4 million from real estate, construction, and mineral sale segments, making up 83 per cent of its total revenue. Thus, albeit these segments proved their core line, the company decided to pivot to a new area. By 2014, its revenue witnessed a change with agricultural products such as sugar, corn, and rubber, contributing $64 million or 48 per cent of total revenue. The company’s captain Duc noted that HAGL’s development has … [Read more...] about Suspicion over Hoang Anh Gia Lai Group’s long-term growth trajectory

The year 2023 marks the 10th anniversary of the VietinBank - MUFG strategic alliance. This is a significant milestone on the good collaboration journey of the two banks with so many special memories. A series of activities has been planned to celebrate the 10th anniversary. To kick-start the celebrations, on September 22, 2022, VietinBank and MUFG held a ceremony to launch the logo of the 10th anniversary of the VietinBank – MUFG strategic alliance. The decade-long alliance between both banks is symbolized by the fusion of their corporate colors within the anniversary logo – a synergy of VietinBank’s trusted blue and MUFG’s vibrant red. Inspired by the sun as the world’s greatest source of energy as well as the beauty of the Vietnamese lotus flowers and Japanese cherry blossoms, the anniversary logo also blends cultural elements from both countries and reaffirms the commitment of the banks toward fostering bilateral economic ties. Their union is an exemplary demonstration of … [Read more...] about The 10th anniversary logo of VietinBank – MUFG strategic alliance

NA Chairman visits the construction site of Long Thanh Airport project. (Photo: SGGP) Deputy Prime Minister Le Van Thanh and leaders of central ministries accompanied the delegation. On the side of Dong Nai Province, Secretary of the Provincial Party Committee Nguyen Hong Linh, Chairman of the Provincial People's Committee Cao Tien Dung, leaders of the Provincial People's Committee, and representatives of local departments participated. The delegation visited the resettlement area of Loc An - Binh Son and the Long Thanh Airport construction site, then worked with leaders of Dong Nai Province and Vietnam Airlines Corporation (ACV) afterward. At the meeting, Chairman of Dong Nai Provincial People's Committee Cao Tien Dung said that the Long Thanh Airport phase 1 project has more than 5,340 hectares and so far has been recovered and handed over 95 percent of the area, of which the prioritized area of 1,810 hectares have completed the compensation and basic support plan. For the … [Read more...] about NA Chairman checks construction progress of Long Thanh Airport project

The first sample of chip made by FPT semiconductor. — Photo courtersy of FPT Viet Nam’s leading ICT company FPT Software has launched a new subsidiary, FPT Semiconductor, marking a key milestone for the company as it enters the booming semiconductor industry. Through the new subsidiary, FPT Software aims to gain a slice of Asia Pacific’s semiconductor market which accounts for 60 per cent of global sales. FPT Semiconductor released its first integrated circuits (ICs), designed in Viet Nam and manufactured in South Korea, in August 2022. These ICs will be used in Internet of Things (IoT) medical devices. By 2023, FPT Semiconductor plans to supply 25 million chips globally in seven types to meet diverse needs in telecommunications, IoT, automotive technology, energy, electronics, and others. According to a Technavio report, Viet Nam's semiconductor industry is estimated to exceed US$6.16 billion by 2024. FPT Semiconductor aims to become a supplier of Vietnamese brand chips for … [Read more...] about FPT Software produces made in Viet Nam chips

With its long-term vision for sustainable development, coupled with a clear implementation strategy and an effective social and environmental risk management system, VPBank has gradually become a role model of a “green” bank in Vietnam. Such progress has brought sustainable values to the bank itself as well as the community and the whole economy. Mrs. Luu Thi Thao, VPBank’s Standing Deputy CEO, shared with the Asian Business Leadership Forum (ABLF) the bank's efforts in building its Environmental, Social, and Governance (ESG) scheme. Mrs. Luu Thi Thao, VPBank’s Standing Deputy CEO In July, Moody's for the first time announced VPBank's ESG sustainability score at 2 out of 5, with 1 being the highest. Is this a testament to VPBank's long-term strategy for sustainability and building up the image of a green bank? What were the factors contributing to such a good result? With a rating at 2, out of 5 by Moody's for VPBank’s strong foundation, clear strategy and effective … [Read more...] about Sustainable finance is the way to address ESG challenges

Pursuant to the MoU, the two sides will establish the consultation collaboration on promoting Corporate Governance with best practices; provision of consultation on ESG strategy development (Environment, Social and Governance) appropriate in the Era of Sustainability Business; Establish & Strengthen the ESG policies and practices; Internal Control Assessment; and Business Process Improvement. Senior Executive Director of Tricor Axcelasia, Mr. Derek Lee, and VietStar CEO, Ms. Pham Thi Thu Hang, sign the MoU In addition, VietStar and Tricor Axcelasia also collaborate with each other to provide consultation on promoting foreign companies’ investment into Vietnam as well as Vietnamese companies’ investment into ASEAN countries, which helps foreign enterprises have the best preparation related to the local market as well as policies and procedures before investing into Vietnam, and also helps Vietnamese enterprises better understand ASEAN market to smooth the … [Read more...] about Vietstar and Tricor Axcelasia Group signed MoU

Hanoi – A regional information platform for energy transition SIPET, targeted at professionals, has been launched by the Clean, Affordable, and Secure Energy for Southeast Asia (CASE) to facilitate dialogue and promote coordination in the region’s power sector to support the acceleration of the energy transition in the region. A wind power farm in the Mekong Delta province of Bac Lieu. (Photo: VNA) Energy demand is projected to grow by 80 percent by 2050. Indonesia, the Philippines, Thailand, and Vietnam represent nearly three-quarters of total power generation in Southeast Asia; therefore, the ability of the region to meet its development goals largely depends on the countries’ current and future energy choices. Yet, energy transition stakeholders in Southeast Asia have highlighted in a survey a series of common challenges: a lack of institutional capacity; a lack of platforms for timely information and intelligence sharing; excessive time spent in coordination; and … [Read more...] about Southeast Asia’s information platform for energy transition debuts