Vietnam 

Electricity prices rise 8.36% to cover production cost – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Engineers inspect the Thái Bình thermal power plant in the northern province of Thái Bình. The average retail price for power was raised by 8.36 per cent on Wednesday. — VNA/VNS Photo Ngọc Hà Viet Nam News HÀ NỘI — The average retail price for power was raised by 8.36 per cent on Wednesday, according to the Ministry of Industry and Trade (MoIT). The hike means that electricity bills have risen from VNĐ1,720 (7.49 US cents) per…

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Vietnam 

Farmers need support to expand fruit production – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Dragon fruits is a key produce in Châu Thành District, Long An Province. — Photo dangcongsan.vn LONG AN — Fruit is a key produce of provinces around the Mekong Delta. However, small-scale production and poor links from production to purchase, from process to export, are hindering the development of orchards, attendees heard at a workshop held yesterday in the Mekong Delta province of Long An. According to the Ministry of Agriculture and Rural Development, the…

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Home 

Electric carmaker Faraday Future seeks US$40 million for Nevada land as production plans unravel

Embattled Chinese electric carmaker Faraday Future (FF) is selling a 900-acre plot of land in North Las Vegas, Nevada for US$40 million, an advertisement posted on the company’s WeChat social media account showed.“The parcel is partially improved, and 700 acres have been fully graded for industry use. The sale is the result of the ongoing optimisation of business strategies at FF,” the post said on Thursday afternoon.The company added that this was a tough decision and that the move was a… Source link

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Vietnam 

Garment and fishery firms plan production growth this year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Enterprises in the garment and fishery sectors have set development plans to take full advantage of free trade agreements such as the CPTPP and EVFTA. The textile and garment industry aims to achieve export value growth at 8-10 per cent to a total of over US$40 billion and an industrial production value growth at 5 per cent, according to the Việt Nam Textile and Garment Corporation (Vinatex). Firms will target markets under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)…

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Vietnam 

January oil production exceeds target – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Oil rigs off the coast of southern Việt Nam. Oil and gas output in January exceeded the monthly target by 5.8 per cent. — VNA/VNS Photo Huy Hùng Viet Nam News HÀ NỘI — Việt Nam’s oil and gas output hit an estimated 2.05 million equivalent tonnes in January, surpassing the monthly target by 5.8 per cent. According to Việt nam Oil and Gas Group (PetroVietnam), oil exploitation volume is 1.13 million tonnes and gas output reached 0.92 billion cubic metres, 3.7 and 8.6 per cent higher than planned, respectively.…

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Home 

UK vacuum giant James Dyson is moving headquarters to Singapore, citing Chinese market and Asian production

James Dyson, the billionaire Brexit supporter who revolutionised vacuum cleaners with his bagless technology, is moving his head office to Singapore from Britain to be closer to his company’s fastest-growing markets. Dyson’s company said the move to Singapore, where the firm had already announced it would build its new electric car, was not driven by Britain’s looming departure from the European Union or tax implications, with much of its product development remaining in south west England. The 71-year-old inventor has become one of Britain’s best-known entrepreneurs, creating a multibillion-dollar company…

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Property 

Evergrande Health pays US$930 million to buy control of carmaker in its foray into mass production of electric vehicles in China

Evergrande Group, China’s third-largest property developer by sales, has bought control of a producer of electric vehicles in the country, bolstering its founder’s ambition to diversify from real estate into the emerging industry of next-generation automobiles. The developer will use its subsidiary Evergrande Health Industry Group to pay US$930 million for 51 per cent of National Electric Vehicle Sweden (NEVS), according to a statement to the Hong Kong stock exchange, where it is listed. Evergrande Health has paid first instalment of US$430 million on Tuesday, while the remainder of the…

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Vietnam 

Thaco pours $200m into production plant – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A Peugeot car on display at a showroom in Việt Nam. Local manufacturer Thaco has invested US$200 million into producing cars for luxury brands from Europe including BMW and Peugeot. — Photo courtesy Thaco Viet Nam News QUANG NAM — The local Trường Hải Auto Corporation (Thaco) has invested VNĐ4.5 trillion (nearly US$200 million) in a manufacturing plant to produce cars for luxury European brands in the central province of Quảng Nam. The company said the plant, which is built on 7.5ha, was designed with a total capacity…

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Vietnam 

HCM City’s industrial production grows 8.15 percent this year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

HCM City has sustained expansion of industrial activities in 2018, recording an estimated 8.15 per cent rise in the Index of Industrial Production. — Photo Danh Lam Viet Nam News HCM CITY — HCM City sustained its industrial expansion in 2018, recording an estimated 8.15 per cent rise in the Index of Industrial Production (IIP) from last year. The municipal Department of Industry and Trade released the figure at a meeting on December 27, noting the IIP growth rate met the target of 8 to 8.5 per cent set…

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Vietnam 

VN firms told to improve production technologies – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — Vietnamese companies need to improve their production technologies and strengthen linkages with foreign companies to improve their competitiveness in both domestic and overseas markets, a seminar heard in HCM City on Wednesday. Lê Hoài Quốc, head of the management board of the Saigon High Tech Park, told the Việt Nam-Korea production technology seminar that 97 per cent of companies in the country are small and use modest technologies. According to the HCM City Association of Mechanical – Electrical Enterprises, the computer…

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