Japan Ranks 2nd in FDI in Binh Duong, SOE Reform Pace Too Slow

Japan ranks second and third in the total foreign investment and the number of projects in Binh Duong.

Over 130 Firms Join Hanoi Expo

More than 130 enterprises will participate in the Factory Network Asia Business Expo (FBC Hanoi 2017) to be held on Thursday at the National Architecture Exhibition Center in Hanoi.

The expo, organized the first time in the country, will also witness the highest-ever participation of Japanese manufacturers, including Toyota, Canon, Honda and Yamaha, as well as Tamron, NEC and Sony EMCS.

WebTVAsia Acquires METUB to Expand its YouTube Content to Vietnam

Vietnam-based online video and talent network METUB Network has announced it has been acquired by Kuala Lumpur-based YouTube Multi-Channel Network (MCN) WebTVAsia, according to e27.co.

The acquisition will give METUB access to WebTVAsia’s regional network in Asia. These will include its YouTube stars, production and talent development expertise, and its IP portfolio. Additionally, METUB will be able to distribute its Vietnamese content to a wider audience.

Dewaco’s Vietnamese Order Its Largest ever

Finnish cleantech company Dewaco has broken its own order record for the second time this month, according to goodnewsfinland.com.

Dewaco will altogether deliver a total of 120 chain scrapers to Ho Chi Minh’s wastewater treatment in Vietnam, which is currently being extended. Once completed, the plant will be one of the largest wastewater treatment plants in Southeast Asia, treating the wastewaters of approximately 1.4 million inhabitants.

Vietnam Expected to Earn $3 Billion from Cashew Export

Vietnam’s cashew exports is hoped to reach $3 billion in 2017, an increase of $160 million from 2016, according to the Vietnam Cashew Association (VINACAS).

According to the association, Vietnam’s current cashew plantation area is about 300,000 hectares. 2017 cashew output is forecast to be about 300,000 tons, 150,000 tons less than in 2016 and 250,000 tons lower than initial estimates.

Da Nang Tech Park Draws $180 Million Investment

The central city of Da Nang’s high-tech park has attracted six projects valued at $180 million from two Japanese and four domestic investors, said Phung Tan Viet, head of the park management board.

The park, which was designed as a hub for green and high-tech investors, is also keen on attracting more investors from Thailand, he added.

State-owned Firm Reform Pace Too Slow: Economist

The transfer of state ownership to State Capital Investment Corporation (SCIC) has been disappointing and requires more drastic measures to hasten the process, Nguyen Dinh Cung, director of the Central Institute for Economic Management (CIEM), said at a conference in Hanoi on February 21.

By his analysis, ministries and local authorities lacked dynamism and even purposefully delayed the transfer, while SCIC has been hesitant to take on struggling enterprises, the economist added.

South Korea Helps Quang Tri Develop Organic Farming

The Korean International Cooperation Agency (KOICA) and the World Vision Foundation from South Korea on February 21launched a project to develop a local value chain for organic farm produce in Trieu Phong district of the central province of Quang Tri.

The project will be carried out from now to 2019 in five communes with a total investment of nearly $1 million.

Japan Ranks Second in Foreign Investment in Binh Duong

As many as 246 projects worth $5.19 billion invested by Japanese firms are operating in the southern province of Binh Duong, accounting for nearly 20% of foreign direct investment (FDI) poured into the locality so far.

Japan ranks second and third in the total foreign investment and the number of projects in Binh Duong, respectively, said a provincial official during his reception on February 21 for a delegation of businesspeople from Japan’s Shizuoka prefecture, who visited Binh Duong to seek investment opportunities.

BIDV Sells 49% Stake in Financial Leasing Arm to Japan’s Sumitomo Mitsui

Bank for Investment and Development of Vietnam (BIDV), among the largest lenders in the country, has received approval from the Vietnamese central bank to sell a 49% stake of BIDV Financial Leasing Company (BLC) to Japan’s Sumitomo Mitsui Trust Bank (SMTB).

The Hanoi-based lender will keep a 51% interest in the new firm, BIDV-SuMi TRUST (BSL), BIDV said in a statement on Wednesday.

Vietnam to See Oversupply of 35 Million Tons of Cement in 2020

Cement manufacturers in Vietnam are expected to produce between 120 million and 130 million tons per year by 2020 while domestic consumption is estimated at 93 million tons, resulting in 25 million-35 million tons in oversupply, according the Vietnam News Agency.

Vietnam Needs to Act More to Improve Business Environment: EuroCham

The European Chamber of Commerce (EuroCham) has been ‘satisfied’ with the Vietnamese government’s efforts to improve the business environment, however, the process needs to be sped up with more specific actions, said Joaquim Torrinha, communications and marketing manager at EuroCham Vietnam.

Thai Group Gets Green Light to Build IZ in Central Vietnam

WHA GROUP, a Thai developer of industrial facilities, has received approval from Vietnamese authorities to establish a joint venture to develop the first phase of WHA Hemaraj Industrial Zone within the Dong Nam Economic Zone in the central province of Nghe An, The Nation reported.

The joint venture, WHA Hemaraj Cienco 4 JSC, is formed by its subsidiary WHA Hemaraj Land and Development and Vietnam-based Civil Engineering Construction Corporation No 4 JSC.

Innovatube Launches $5M Pre-Seed Fund to Grow Vietnam's Ecosystem

Innovatube, a startup incubator with branches in Vietnam, Singapore, Hong Kong and the UK, has announced the launch of a US$5 million pre-seed fund.

This new fund will seek to invest in enterprise and emerging tech verticals including VR/AR, IoT, AI, fintech and blockchain. It will be targeting the Southeast Asian market, with a strong focus on Vietnam.

TUAN MINH