China 

China prepares to axe inefficient industry in manufacturing heartland, despite slowing economy

Shandong province, a manufacturing heavyweight in eastern China, will press ahead with plans to cut capacity in inefficient “old” industries, even though it will hurt short-term growth, the provincial party chief said on Tuesday.Like many provinces that still rely heavily on traditional industries, Shandong’s growth has slowed recently, in part due to the effect of the trade war with the United States.While its gross domestic product (GDP) growth accelerated to 6.4 per cent last year from 5.7… Source link

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Vietnam 

VN apparel industry suffers due to lack of competitive dyeing, fabric segments – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Garment companies are hugely dependent on imported fabric. – VNA/VNS Photo HCM CITY – Lopsided development of its various segments and dependence on imports have weakened the textile industry’s competitiveness and creativeness, experts said. Nguyễn Văn Tuấn, chairman of the Việt Nam Cotton and Spinning Association, told Thời Báo Kinh Doanh (Business Times) newspaper that while the yarn and apparel segments had grown strongly, others like dyeing were poorly developed, causing a bottleneck. Besides,…

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Vietnam 

Việt Nam’s research-based pharmaceutical industry expects high growth – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  An engineer works on a machine in DHG Pharmaceutical Co’s drug manufacturing plant in Cần Thơ City. A Eurocham report predicts the healthcare sector can become an industry which can promote innovation and creation in Việt Nam. — VNA/VNS Photo Hữu Khoa HÀ NỘI — The European Chamber of Commerce in Việt Nam (Eurocham) highly values the potential of Việt Nam to become a centre for the research-based pharmaceutical industry including production, export and supplies of high quality healthcare services in the ASEAN region. Pharma Group…

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Vietnam 

Rising FDI calls for better supporting industry: experts – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The amount of FDI pouring into Việt Nam is rising, but businesses in the supporting industry still cannot satisfy manufacturers’ demands, leading to a low localisation rate. — VNA/VNS Photo An Hiếu HCM CITY — The domestic supporting industry needs to improve to take advantage of foreign direct investment (FDI) pouring into Việt Nam, experts have urged. In the first six months of the year, Việt Nam attracted more than 1,720 new FDI projects with total registered capital of nearly US$7.5 billion, according to the General Department of Statistics. The period also saw $9.1 billion of FDI being disbursed, an 8.1 per cent increase from the…

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Vietnam 

HCM City promotes IC, semiconductor industry – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The market for integrated circuits and semiconductors in Việt Nam has huge potential, offering great investment opportunities for domestic and foreign enterprises. — VNA/VNS Photo HCM CITY – The market for integrated circuits (IC) and semiconductors in Việt Nam has huge potential, offering great investment opportunities for domestic and foreign enterprises, according to experts. The IC industry offers core support to other industries such as information technology, telecoms, and mechanical and automatic engineering, according to Prof Đặng Lương Mô, an expert in integrated circuits. The HCM City Integrated Circuit Development Programme promotes investment in minimal fab, a…

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Vietnam 

Mechanical engineering industry needs more Govt support for growth, experts say – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  At a mechanical products factory. The mechanical engineering industry needs supportive policies from the Government to enhance its competitiveness during the fourth industrial revolution. — VNA/VNS Photo Xuân Hương HCM CITY — The mechanical engineering industry needs supportive policies from the Government to enhance its competitiveness during the fourth industrial revolution, officials and industry experts have said. Phạm Xuân Đà, head of the Ministry of Science and Technology’s southern affairs, said the industry plays an important role in manufacturing, which is the backbone of the economy. “Although the [Government’s]…

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Home 

Hong Kong’s cancer DNA tests industry gets a boost as Taiwanese provider ACT Genomics opens lab

Hong Kong’s cancer DNA tests industry has received a shot in the arm from Taiwan-based ACT Genomics opening a HK$20 million laboratory at the Science Park in Sha Tin to process cancer patients’ samples.The five-year-old firm, based in Taipei, aims to build a regional network of self-operated and joint venture labs.“We want to become Asia’s most important DNA tests provider [for cancer patients],” ACT’s chief executive Chen Hua-chien told reporters on Thursday after the lab’s opening ceremony. … Source link

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Vietnam 

Việt Nam, UK share experience in financial industry – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Vietnamese Minister of Finance Đinh Tiến Dũng (left) on Wednesday meets UK Chancellor of the Exchequer Philip Hammond on his working trip to the UK. – VNA/VNS Photo Diễm Quỳnh  LONDON –The United Kingdom is willing to provide assistance to increase the efficiency of the Vietnamese economy, and intensify co-operation on preventing money laundering, Chancellor of the Exchequer Philip Hammond said on Wednesday. Hammond made the statement when receiving Vietnamese Minister of Finance Đinh Tiến Dũng who is leading a delegation from the finance ministry and the State Securities…

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Vietnam 

Việt Nam paper industry needs to diversify product portfolio – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A paper mill. Experts suggest the paper industry should no longer invest in production of packaging paper but instead manufacture other varieties like coated, duplex, couche, and bristol papers. — Photo vppa.vn HCM CITY — The paper industry has potential for growth, but businesses need to avoid investment in products that have excess supply, according to the Việt Nam Paper and Pulp Association (VPPA). It said free trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Việt Nam-EU FTA…

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Vietnam 

Automotive industry expected to get stronger – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Buyers take a look at an Xpander car at a Mitsubishi showroom. Photo autopro.com.vn HÀ NỘI – A stronger automotive industry with higher participation of foreign firms will boost the domestic auxiliary industry, businesses said on Friday. “The Vietnamese automobile and motorbike industries have been very lively in the last two decades and there is still room for further development,” Nghiêm Văn Hùng, assistant manager at sales and marketing department, Inoac Vietnam Co Ltd, told Việt Nam News. A large number of products are now produced and assembled in…

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