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| At the inauguration ceremony (Photo: laodong.vn) |
Located at the Da Nang Hi-tech Park, the facility, whose construction began in 2021, focuses on projects involving drones, robots, water purification technology, and medical equipment and related software.
To provide manpower for the R&D project, Fujikin Incorporated has already inked a human resources training deal with the Da Nang University for Science and Technology.
According to the municipal Hi-tech Park and Industrial Zones Authority, a series of investors, including aerospace components manufacturer Universal Alloy Corporation (UAC) of the US, Tokyo Keiki Precision Technology Inc and Niwa Foundry from Japan, and Dentium company from the Republic of Korea, have already opened factories at the 1,100ha ‘green’ hi-tech park.
Vietnam lures over 25 billion USD in foreign investment in 11 months
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| Work underway on buildings in HCM City which took the lead in foreign investment attraction in 11 months of 2022. (Photo: VNA) |
Vietnam attracted 25.1 billion USD in foreign investment in the first 11 months of 2022, up 0.5% month-on-month but down 5% year-on-year, reported Vietnam News Agency as quoting figures of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has said.
During the period, new capital registered in the country by foreign investors saw a yearly decline of 18% to 11.5 billion USD while their capital contributions and share purchases also declined 7% year-on-year to nearly 4.08 billion USD.
The agency underlined two factors behind the falling registered capital, which were stringent COVID-19 preventive measures early 2022 and global uncertainties.
It said strict COVID-19 preventive measures imposed in the beginning months of the year had made it more difficult for foreign investors to travel to Vietnam to seek new investment opportunities. Such hindrance held back the number of newly-registered projects in early 2022.
Global uncertainties, including geopolitical conflicts, inflationary pressures and supply chain disruptions, compounded the situation by scaling down the capital flows from big economies, especially Vietnam's partners.
One bright spot in the period was adjusted capital which surged 23.3% year-on-year to 9.54 billion USD, the FIA noted.
According to the agency, the adjusted capital continued to maintain its growth momentum, which was a signal to confirm the confidence of foreign investors in the economy and investment environment of Vietnam. Therefore, they decided to add more capital to their existing projects in the country.
Statistics from the FIA also showed that the average scale of adjusted capital per project in 11 months of 2022 increased 4.9% over the same period of last year. Notably, many projects in manufacturing of electronic and high-tech products witnessed capital added on a large scale during the reviewed period.
On the bright side, many large-scale projects had their capital adjusted up significantly in ten months. For instance, Samsung Electro-Mechanics was given two capital boosts, of 920 million USD and 267 million USD.
Samsung HCMC CE followed suit with 841 million USD. Other projects to manufacture electronics and multimedia devices in Bac Ninh, Nghe An and Hai Phong were financed with additional capital of 306 million USD, 260 million USD and 127 million USD, respectively.
At the same time, disbursed capital also witnessed a positive increase of 15% to reach 19.68 billion USD in the period, the FIA added.
From January to November, manufacturing and processing lured the lion's share of foreign investment with over 14.96 billion USD, making up 59.5% of total capital. It was followed by real estate with 4.19 billion USD, or 16.7%. Electricity production and distribution and science and technology were the runners-up with 2.26 billion USD and 1.03 billion USD, respectively.
Singapore was the top source of capital pledges in the period with 5.78 billion USD, accounting for 23% of the total. Japan came next with over 4.6 billion USD or 13% while the Republic of Korea ranked third with above 4.1 billion USD or 16.4%.
Others sources of foreign capital were China, Hong Kong (China) and Denmark.
Among cities and provinces receiving foreign capital in the period, Ho Chi Minh City led with nearly 3.54 billion USD, up 3.3% year-on-year or equivalent to 14% of the total. The southern province of Binh Duong ranked second with over 3.03 billion USD, up 45% year-on-year or accounting for 12.1% of the total.
US spends over 13 billion USD purchasing local computers and electronics
Vietnamese electronic computers and component exports to the US during the ten-month period surged by 26.4% to reach 13.23 billion USD against the same period from last year, VOV news quoted figures given by the General Department of Vietnam Customs.
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| Photo for illustration. (Source: VOV) |
As of mid-November, the import-export revenue of computers, electronic products, and components reached 121.6 billion USD, duly accounting for 18.86% of the country’s total import and export turnover, with exports rising by 12.6% to reach 48.3 billion USD.
The US takes the lead among countries importing these products from the Vietnamese market, followed by China, the EU, and the Republic of Korea.
Last year witnessed the total import-export turnover of computers, electronic products, and components reach 130.3 billion USD, of which exports and imports hit roughly 51 billion USD and 75.5 billion USD, respectively
Most notably, foreign-invested enterprises raked in over 49.7 billion USD from exports of computers and electronic components, marking an increase of 15.2% over the previous year and accounting for 97.8% of the country's total export turnover.
According to details given by the General Department of Vietnam Customs, the country’s total import-export value by mid-November surged by 13.1% to nearly 644.7 billion USD, up 13.1% compared to the same period from last year.
Ambiente Frankfurt Fair: great opportunity for Vietnamese consumer goods
Ambiente Frankfurt, one of leading exhibition fairs on consumer goods and gifts, will return in Frankfurt of Germany from February 3-7, 2023, following two years of postpone due to COVID-19 pandemic, reported Nhan Dan News.
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| Minh Long pottery products introduced at the 2020 Ambiente Frankfurt Fair. (Photo: minhlong.com.vn) |
The information was released at a press conference held virtually in Hanoi on November 28.
Under the motto "Home of Consumer Goods", the fair will offer the world's most innovative and comprehensive range of consumer goods from 2023 onwards, interior and exterior furniture, decoration products, textiles for home use, household appliances of all kinds, gifts, watches of all kinds, jewelry, handicrafts.
The new products that have never been showcased at the previous fairs will be stationery office furniture.
The event is expected to attract about 4,200 exhibitors in Germany and around the world, including 55 from Vietnam. In addition to Vietnamese firms, the fair will feature the participation of Hanoi municipal People’s Committee and
A new feature of the next year Ambiente Frankfurt Fair is to be held at the same time with two others including Christmasworld and Creativeworld on the same exhibition area of 331 square metres.
The redesigned offering will provide a unique, comprehensive portfolio of products and solutions and actively leverage synergy effects for exhibitors, visitors and the media.
Notably, the Global Sourcing section of the three leading trade fairs will be merged into a joint offering and marketed internationally.
In addition to the direct fair, an online platform will be organised to offer chances for visitors around the world to enjoy the exhibits and conduct contracts.
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| Vice President of Messe Frankfurt Group Julia Uherek speaks at the virtual press conference on November 28. (Photo: nhandan.vn) |
Speaking at the press conference, Julia Uherek, Vice President of Messe Frankfurt Group, noted that Europe is facing a high inflation, so whether buyers decide to buy products at the fair or not will depend on their quality and prices, requiring firms to promote innovations.
Vietnamese handicrafts that were exported to Europe, especially Germany, have great potentials thanks to trade agreements, including EU - Vietnam Free Trade Agreement. Therefore, Ambiente Frankfurt Fair will have the chance for Vietnamese products to access foreign markets, she added.
A wide variety of presentations of new consumer trends around the world will also be held on the sideline of the fair./.