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South Korean conglomerate Samsung Electronics will make a business and investment expansion in Vietnam, with a target of US$69 billion worth of exports and an additional investment of US$3.3 billion this year, among other activities, the group’s leader has said. Samsung CEO Roh Tae Moon told Vietnamese Prime Minister Pham Minh Chinh about the giant’s expansion of operations in Vietnam at their meeting on Friday, as part of his ongoing working visit in the Southeast Asian country. Specifically, Samsung will manufacture semiconductor products at its Samsung Electro-Mechanics Vietnam, located in northern Thai Nguyen Province, in July 2023, the CEO said. The group will also inaugurate its research and development (R&D) center in Hanoi late this year or early next year to serve not only Vietnam but other Southeast Asian countries as well. In addition, Samsung plans to assist 50 Vietnamese enterprises in improving their competitiveness under a smart factory model, while … [Read more...] about S.Korea’s Samsung to expand trade, investment in Vietnam: CEO

Vietnam, together with Brazil, Indonesia and India that are emerging markets, have made practical contributions to Apple’s group’s outstanding performance in the second quarter of this year, said CEO Tim Cook. Apple CEO Tim Cook. (Photo credit Apple). In its financial report for the second quarter of 2022, Apple announced a record revenue of US$ 83 billion, up 2% over the same period last year, despite market fluctuations. Speaking to analysts after releasing the figure, Cook noted the quarter saw record revenue in developed and emerging markets "with double-digit growth in Brazil, Indonesia and Vietnam, and a new doubling of revenue in India." The CEO said that the company continues to execute across some significant geographies with "low penetration of iPhones between Indonesia, Vietnam and India where we did quite well". "iPhone tends to be the engine for those markets, particularly at the beginning of creating the market there for Apple products," he … [Read more...] about Apple CEO Tim Cook appreciates Vietnam market potential

Under the cooperation signed on July 26, Knightsbridge Partners would soon become a distributor of Happy One Central in Hong Kong. Previously, Happy One Central was distributed by domestic partners including Cen Saigon, Viva Homes, QS Land. Diep Dinh Chung (L), Deputy General Director of Van Xuan Group, and Kingston Lai, Founder and CEO of Knightsbridge Partners, sign a partnership agreement. Photo by Van Xuan Group "The cooperation confirms the project's value, potential and attraction. Happy One Central would be one of the first projects in Binh Duong to be introduced in Hong Kong," said a project representative. Kingston Lai, founder and CEO of Knightsbridge Partners (Hong Kong), said Binh Duong has become an alluring destination for foreign investors thanks to favorable policies that encourage investment, and recent plans to promote industrial parks and infrastructure development, affirming its position as a "magnet" for foreign investment. "This explains why … [Read more...] about Happy One Central to be introduced in Hong Kong

CapitaLand Development (CLD) has entered into plenty of new development deals across many different businesses in Vietnam. What is your exact development strategy in Vietnam? Ronald Tay, CEO of CapitaLand Development (Vietnam) Vietnam is one of our core markets, and we are committed to being a long-term partner contributing to Vietnam’s economic development. Having been part of Vietnam’s growth for 28 years, CLD’s portfolio comprises one retail mall, two integrated developments, and more than 13,000 quality homes across 17 residential developments. Over the next five years, we aim to accelerate our investment in the country, doubling our capital allocation to grow our portfolio in Vietnam. Our real estate expertise, coupled with our extensive local knowledge, places us in a strong position to scale up our investments in township developments, logistics, industrial, and business parks as well as seek opportunities to expand into data centres. Our recent investments … [Read more...] about CapitaLand Development enhances its operations

Eni Vietnam BV's CEO Alessandro Gelmetti (C) presents computers to several health stations in Ho Chi Minh City (Photo: VNA) HCM City (VNA) – Eni Vietnam BV, a unit of Italian energy group Eni, has presented 129 sets of desktop computers to Ho Chi Minh City to help with the COVID-19 prevention and control work at communal-level health stations. At a ceremony on August 3 to hand over the computers to the city’s Vietnam Fatherland Front committee, the company’s CEO Alessandro Gelmetti said drastic actions by the Government, the efforts of the health sector and the consensus of the people have enabled Vietnam to achieve a high coverage rate of COVID-19 vaccination early, thus putting the pandemic under control. He expressed his hope that the computers will help medical workers at the grassroots level well perform their tasks in fighting the pandemic in the new situation. Deputy Director of the municipal Health Department Nguyen Van Vinh Chau thanked Eni Vietnam BV … [Read more...] about Eni Vietnam presents computers to medical sector in HCM City

A Long Chau drugstore. The pharmaceutical retail market was seeing the rapid expansion of modern drugstore chains. — Photo FPT Retail The winds of change are blowing through Viet Nam’s retail pharmaceutical industry, with giants wrapping up investments to establish modern retail chains in an anticipated fast-growing market, which mom-and-pop stores currently dominate. After Pharmacity, FPT’s Long Chau, and Mobile World Investment Corp’s An Khang pharmacy chains, Masan Group is supposedly gearing up preparations to enter the pharmaceutical retail market. According to the national portal about business registration, Winphar Trading Services Corporation was founded on March 31 with WinCommerce, holding a stake of 80 per cent, Do Thi Hoang Yen and Tran Phuong Bac, 10 per cent each. WinCommerce, a member of Masan Group, currently operates the most significant nationwide grocery modern trade retail platform Winmart and Winmart+ while Yen and Bac both held important positions at … [Read more...] about Giants reshape retail pharmaceutical market

Kattiya Indaravijaya, KBank’s CEO KBank will leverage its financial expertise and 77-year experience in Thailand to satisfy customers from all segments with world-class digital solutions. The bank aims to lead the market for both business and retail clients, with targets of serving 1.2 million customers and disbursing over $500 million in loans by 2023. Last November, KBank Ho Chi Minh City opened its doors with a goal to empower all customer groups through digital banking platforms in line with KBank’s Regional Digital Banking strategy. KBank’s CEO Kattiya Indaravijaya said, “Vietnam is an emerging star of Southeast Asia as evidenced by its exponential economic growth. The brighter economic prospects in the country can be attributed to the success of the government’s pandemic policies along with its promotion of a cashless society.” According to the World Bank, Vietnam’s GDP growth for 2022 is projected to reach 5.5 per cent. In addition, Vietnam has tremendous … [Read more...] about KBank makes entry into Vietnam with digital push

Business strategies including brand and tenant positioning and product diversification are being evaluated as critical success factors for shopping mall developers. The three biggest commercial space developers in Vietnam – Vincom, Lotte, and AEON – are all following this path. AEON wants to continue its aggressive expansion plans over the next few years in this country According to the latest data published by Vingroup’s Vincom Retail Company, the group currently owns 81 shopping centres, with two new Vincom Plaza shopping centres expected to open this year. Pham Thi Thu Hien, deputy CEO of Sales and Marketing for Vincom Retail, said, “In 2021, despite the difficulties posed by the pandemic, Vincom Retail still had many tenants around the world and they have high expectations for the Vietnamese market. Large companies have asked us to formulate a long-term development plan but domestic tenants have said that they are confident in the lease plan for the next 1-3 … [Read more...] about Retailers jostle for superiority

Hanoi (VNA) - The following is a list of selected news summaries last night by the Vietnam News Agency . - President Nguyen Xuan Phuc on August 2 urged the southern province of Dong Nai to create changes in both mindset and action, and help to spur development in adjacent localities. At a working session with provincial leaders, the President stressed the important role of Dong Nai and some localities in the southern key economic region in national industrialisation and modernisation. Read full story – Prime Minister Pham Minh Chinh hosted a reception in Hanoi on August 2 for British Ambassador Gareth Ward, who came to say goodbye at the end of his tenure in Vietnam. PM Pham Minh Chinh (right) receives British Ambassador to Vietnam Gareth Ward (Photo: VNA) The PM commended the ambassador’s active contributions to promoting the Vietnam-UK strategic partnership in all fields, diplomatic channels and people-to-people exchange. Read full story – Prime Minister Pham … [Read more...] about ☀️ Morning digest August 3

This is the 3rd strategic technology center of NCS in Asia. FPT Software, a member company of FPT Group, and Singapore-based Singtel Group’s affiliate NCS signed a cooperation agreement on August 1 to develop a strategic technology center (SDC) in Vietnam. Overview of the signing ceremony. Photo: Khac Kien The agreement is aimed at meeting the strategic goal of expanding the development network and providing global technology services to both parties. The center is expected to hire more than 3,000 employees by 2025. This is also the 3rd strategic technology center of NCS in Asia. “Demand for digital transformation services continues to accelerate in this region. By enhancing our digital and workforce capabilities and forging strategic partnerships with recognized leaders like FPT Software, we aim to create a highly compelling end-to-end digital transformation value proposition for our clients,” said NCS CEO Ng Kuo Pin. NCS’ third delivery center in … [Read more...] about FPT Software and Singapore’s NCS jointly develope technology center