Economies look to spread trade risks, illustration photo source AFP The latest date from the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment showed that in the first five months of this year, Vietnam attracted 233 new Chinese investment projects registered at $1.56 billion. If additionally-registered capital from China’s operational projects and stake acquisitions is included, the total new capital from Chinese investors was $2.02 billion, accounting for 12 per cent of Vietnam’s total newly-registered foreign direct investment (FDI) volume, and turning China into the fourth-largest foreign investor of Vietnam, trailing behind Hong Kong, South Korea, and Singapore. As a result, there are many large-scale investment projects on electrics, supporting industries, tyres, mechanical production, furniture, glass, and textiles and fabrics. “Amid global tensions due to the uncertain outcome of the US-China trade dispute, … [Read more...] about Economies look to spread trade risks
Looking glass project
Behind booming FDI figures are Vietnam’s ‘disposable’ workers
Xuyen, 31, has spent over 10 years working in numerous textile factories across Vietnam. Without a high school diploma, she packed her bags and joined her friends to work for a meager wage of VND3 million ($133) a month. Xuyen was working at a factory producing cellphone components in the northern Bac Ninh Province last year. I met her one afternoon when she got to take a rare breather after a string of prolonged shifts. She told me about her first rented apartment ever since she became a factory worker. It had boxes for rooms and shards of glass for windows. The air inside was stagnant, and the narrow entrance which could only fit one motorbike through made the apartment all the more suffocating. Xuyen shuddered as she recalled blackouts. Xuyen’s youth was spent on days trying to figure out what food to buy so as to not overspend her VND15,000 ($0.66) budget for an afternoon meal for three; working overnight shifts to send some money back home; and fearing wage deductions if she … [Read more...] about Behind booming FDI figures are Vietnam’s ‘disposable’ workers
Nippon Sheet Glass to restart idle thin glass float factory in Vietnam
Japanese glass producer Nippon Sheet Glass (NSG) will pump part of a $365 million investment into upgrading and restarting a currently dormant thin glass float factory in Vietnam, according to the company website. It is part of the expansion of its production capacity of online TCO (transparent conductive oxide) coated glass to support the growing solar market. Accordingly, the remainder of the $365 million will be used to develop a new glass production facility in the US over the next three years. According to newswire Nikkei Asian Review, the plant in Vietnam is scheduled to reopen as soon as mid-2019. Meanwhile, the operations at the new US factory will start in the second half of the 2020 fiscal year. A site has not yet been chosen, but is expected to be near major customer First Solar's new plant in the state of Ohio. Plans call for raising capacity by about 30 per cent for a special glass coated in a transparent conductive film that forms the topmost layer of thin-film … [Read more...] about Nippon Sheet Glass to restart idle thin glass float factory in Vietnam
One melody in memory of father
Viet Nam News by Lê Hoài Nam To meet Diễm, his ex-wife, Đổng went to a refreshment stall on the side of a street. A few minutes later, she turned up in a black Camry. Getting out, at first glance she seemed greatly displeased with his casual clothes. “You’ve come by bus, haven’t you?” she asked him in a contemptuous voice. “Pawned your motorbike?” she went on. Blushing with shame he replied, “I needed the money to wire a building for lighting and high-tech gadgets. I’ll get it back soon.” “Hmm, at the age of fifty, with a degree in electrical engineering, you should be ashamed of yourself for having pawned your terrible motorbike,” she mocked him. “It’s not a big deal, I’ll be sorted soon.” “Really? What did you want to see me for then? Not for money, eh?” “Certainly not! Have I ever borrowed anything from you?” … [Read more...] about One melody in memory of father
Greening out real estate projects
Developers in Ho Chi Minh City are trying to realise the dream of greening out their real estate projects. Ho Chi Minh City is considered the leader in green real estate projects. Among those, Phuc Khang Construction and Investment Corporation is a pioneer in applying the American LEED green building standards in its two projects called Diamond Lotus Riverside (District 8) and Diamond Lotus Lakeview (Tan Phu District). In particular, Diamond Lotus Riverside handed over properties to more than 700 homebuyers by the end of 2017. In addition, the An Nhien Garden eco-urban complex, developed by Thang Loi Group, including the three sections An Phu-An Loc-An Dien, is a green community in the heart of the city with tree and traffic densities of nearly 40 per cent. EverRich Infinity of Phat Dat Real Estate Development Corporation, which is located in the centre of District 5, has been covered with green spaces surrounding the windows, not to mention a system of interconnected watercourses … [Read more...] about Greening out real estate projects