MARKET SNAPSHOTS WEEK 11/2023
More than 9,000 billion VND poured into Binh Dinh province in the first 2 months of 2023
In the first 2 months of 2023, Binh Dinh province attracted 14 new projects with a total investment capital of more than 6,336 billion VND, increased capital for 2 projects with a total increase of 2,710 billion VND. Newly attracted projects have domestic investment capital, including 4 projects in economic zones (EZ), industrial parks (IP) with a total investment capital of 290 billion VND; 7 projects in the industrial cluster (IC) with a total investment capital of 544.79 billion VND; 3 other projects with total investment capital of more than 5,501 billion VND. As for attracting foreign investment, there have been no new projects since the beginning of 2023. Cumulatively, Binh Dinh province has 86 FDI projects with a total registered capital of 1,088 billion USD. According to the plan, in the first 6 months of 2023, Binh Dinh province will strengthen investment promotion in a number of key countries such as Thailand, Germany, and South Korea...
An Phat Industrial Park 1 - FDI magnet in Hai Duong
Grasping the demand for industrial land lease and the wave of FDI displacement, like many other localities, Hai Duong is simultaneously deploying infrastructure construction of 6 new industrial parks including: An Phat 1, Gia Loc, Kim Thanh, Tan Truong expanded, Dai An expanded and Phuc Dien expanded. In 6 new industrial parks, An Phat 1 with an area of 180ha (phase 1) is the first industrial park to be handed over by the province, so it has a great advantage in attracting investment. Seeing clearly the potential of An Phat 1 Industrial Park, Actis Sustainable Infrastructure Development Investment Fund (UK) has "poured" 20 million USD into An Phat 1 Industrial Park to own a 49% stake.
Hanoi's first golden hotel up for sale
The Dolce by Wyndham Hanoi Golden Lake is for sale with a reserve price of 250 million USD. The auction is set on March. Nguyen Huu Duong, the owner of the gold-plated Dolce by Wyndham Hanoi Golden Lake, confirmed the sale with the journalist. Currently, there are about ten investors, interested in and negotiating the price, offering 250 million USD, Duong told Cafef.vn. Dolce by Wyndham Hanoi Golden Lake is the first gold-plated hotel in Hanoi. The hotel was inaugurated in July 2020 with an investment of 100 million USD. Almost all exterior designs and interior furniture of the hotel are covered with 24K gold. The 24-storey hotel has 360 rooms, costing up to 1,000 USD per night.
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Chinese group poured more than 2 billion USD into Thai Nguyen
Thai Nguyen province and Sunny Group on the afternoon of March 8 signed a memorandum of understanding on cooperation investment project implementation under the witness of Deputy Prime Minister Tran Luu Quang. The project has a scale of 2-2.5 billion USD, estimated annual revenue of 5 billion USD, attracting 15,000 regular employees. Deputy Prime Minister Tran Luu Quang wants Sunny to call other high-tech businesses to invest to create the group's ecosystem in Vietnam. He suggested businesses create conditions for Vietnamese companies to participate in the supply chain of auxiliary equipment to bring benefits to both sides, helping Vietnam gradually develop its industry.
LG Electronics opens R&D Center in Hanoi, focusing on electric auto parts
On March 8, LG held the opening ceremony of a new R&D center in Hanoi to further promote R&D activities. The center is located in Hanoi, focusing on software development and testing of products in electric vehicles, including telecommunications equipment, audio, video and navigation maps. LG hopes this new facility will strengthen its R&D infrastructure and increase LG's competitiveness in Vietnam. The company said it will increase the number of highly qualified employees in Vietnam by more than 30% from the current 750 to 1,000 by 2024. Earlier this year, LG made a forecast for its electric vehicle parts business. will grow strongly this year, with about 7.5 billion USD in revenue.
Approving investment policy of Thai Ha Industrial Park phase 2 in Ha Nam
Deputy Prime Minister Le Minh Khai signed a decision approving the investment policy of the Thai Ha industrial park infrastructure construction, phase 2, Ha Nam province, approving the investor Hop Tien Co., Ltd.. The project's land use scale is 100ha. The project implementation site is in Bac Ly commune, Tran Hung Dao commune and Chan Ly commune, Ly Nhan district, Ha Nam province. The project has a total investment capital of 976.83 billion VND. In which, the investor's contributed capital is 146.52 billion VND, paid-up capital is 830.3 billion VND. The operation period of the project is from March 6, 2023 to November 15, 2069. The project implementation schedule is no more than 36 months from the date of land handover by the State.