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 

Bình Dương prioritises local supporting industry – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Electronics components being manufactured at a factory in Bình Dương Province. Photo baobinhduong.vn     HÀ NỘI — The southern province of Bình Dương is facilitating the development of supporting industries in order to meet local production needs and reduce reliance on imports, according to the provincial Department of Industry and Trade. Supporting industries not only played a very important role in the industrial development process but also helped improve the added-value and competitiveness of major industrial products, the department’s director Nguyễn Văn Dành told online newspaper congthuong.vn. Bình…

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Vietnam 

Complex to link Japanese and Vietnamese firms in supporting industries – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Representatives from N&G Group and Onaga Co pose for a photo after the signing ceremony on Monday. Photo kinhtedothi.vn   HÀ NỘI — A complex intended to connect Japanese and Vietnamese firms involved in supporting industries will be developed in the Hà Nội Southern Supporting Industrial Park (HANSSIP).   The complex’s establishment followed an agreement inked between the HANSSIP’s investor – N&G Group – and Onaga Company from Japan in the capital city on Monday. The launch of the Việt Nam-Japan Tech-Park complex would mark a good starting point for both Japanese…

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Vietnam 

Capital city strives for 900 firms in supporting industries by 2020 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Workers inspect parts at a factory in Hà Nội. Photo hapi.gov.vn   HÀ NỘI — The capital city has set a goal of having about 900 firms in supporting industries by late 2020, according to the municipal Department of Industry and Trade.   Of them, some 400 would be eligible to have production systems and their products in line with international standards, as well as have sufficient supply capacities in global production networks from multinational corporations in Việt Nam, the department said. Top priority should be given to fostering trade…

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Vietnam 

Digital economy needs supporting policies: experts – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The Vietnamese Government should outline policies to promote breakthrough technologies and bolster digital economic development amid the Fourth Industrial Revolution, World Bank Country Director for Việt Nam, Osmane Dione said yesterday. At a workshop themed ‘Policy Aspects for Việt Nam Digital Economic Development’, held by the Ministry of Industry and Trade (MoIT) and the World Bank Group in Hà Nội, he described cyber security’s crucial role in protecting customers as an important factor to develop Việt Nam’s digital economy. Enhancing digital…

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Vietnam 

VN’s supporting industries strive to improve – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Vietnamese enterprises have the potential to participate in regional and global production value chains on par with the leading countries in ASEAN, because Việt Nam has been a top priority choice of multinational corporations. However, in order to realise this goal, in addition to their own efforts, businesses also need the support of the State. In the draft plan for sustainable development of Vietnamese private enterprises, the Ministry of Planning and Investment (MPI) aims to raise the rate of enterprises participating…

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Vietnam 

VN’s supporting industries strive to be best in ASEAN – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Vietnamese enterprises have the potential to participate in regional and global production value chains on par with the leading countries in ASEAN, because Việt Nam has been a top priority choice of multinational corporations. However, in order to realise this goal, in addition to their own efforts, businesses also need the support of the State. In the draft plan for sustainable development of Vietnamese private enterprises, the Ministry of Planning and Investment (MPI) aims to raise the rate of enterprises participating…

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Vietnam 

Leather, footwear sector needs supporting industry – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The leather and footwear sector needs to develop supporting industry to reduce reliance on the import of raw materials, enhance competitiveness and boost high-value exports, according to Deputy Minister of Industry and Trade Cao Quốc Hưng. Hưng made the statement at a Việt Nam Leather, Footwear and Handbag Association (Lefaso) conference on Wednesday, saying that as a part of the rapidly-changing fashion industry, the leather and footwear sector must focus on developing an appropriate supporting industry, even though it would take significant…

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Who are the investors supporting He Jiankui, the Chinese scientist behind the gene-edited babies?

Dr He Jiankui, the Chinese scientist who claims to have created the world’s first gene-edited babies, has received at least 278 million yuan (US$40 million) in funding for his two biotech start-ups from Chinese and international investors. Direct Genomics Biotechnology, a Shenzhen-based genome sequencing firm that He chairs and has a 33.2 stake, received 218 million yuan in Series A funding round in April, according to a statement on its website earlier this year. The funding was led by Shenzhen Cosun Venture Capital Investment Management, a venture capital firm owned…

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Vietnam 

Samsung experts help train consultants in supporting industries – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — The Ministry of Industry and Trade and Samsung Electronics Vietnam on October 19 organised in HCM City the closing ceremony for the third training course for Vietnamese consultants in supporting industries. The course had begun on July 23 with 25 participants, who were taught quality control and production management theory for four weeks followed by eight weeks of practical exposure at five companies, where they together with Samsung’s experts assessed the operations and business situation of the enterprises and advised them on…

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