Hanoi sees several premium apartment projects with prices at VND70 million (US$2,780) per square meter or above are launched as a shortage of cheaper units persists.
Vietnam Estimates China Rail Link Will Cost US$7.2 Billion
Vietnam has estimated the cost of building a new railway linking it with China’s Yunnan province at VND 179 trillion ($7.2 billion).
Hanoi Gunning For Southeast Asia’s Semiconductor Hub Position
Despite talk of Vietnam losing investors’ support from pulling back subsidies, Hanoi is clearly not backing down on its mission to be Southeast Asia’s semiconductor hub.
Samsung To Produce Semiconductor Parts In Vietnam In 2023
Samsung is strengthening its international supplier network and trying to expand its manufacturing operations in more countries. According to Vietnamese media Lao Dong, Samsung’s Roh Tae-Moon met with Vietnamese Prime Minister, Pham Minh Chin, to prepare for what comes next.
Vietnam: A New Crossroad In Manufacturing Industry
Despite the negative impact of the COVID-19 pandemic in the first quarter of 2020, consumption index for the whole of Vietnam’s manufacturing registered an increase of 2.8 percent compared with the same period in 2019. On the other hand, the host of challenges due to the pandemic has caused the inventory index to grow by 24.9 percent year-on-year.
Nevertheless, the situation has sped up the decision of tech giants to shift production of their new phones, personal computers and other devices from China to Southeast Asia, including Vietnam. In 2020, “Made in Vietnam” Pixel phones and Surface laptops are no longer tall tales, thanks to the decisive action of Google and Microsoft to minimise their overreliance on China for manufacturing. Vietnam remains a safe and attractive destination for outsider investors.
MTA Hanoi: The Leading International Event for Manufacturing in North Vietnam
As we foresee the blooming new era of development in ASEAN, especially in Vietnam—which has emerged as Asia’s next manufacturing hub—MTA Hanoi not only serves as a bridge linking the international manufacturing industry, but also plays as the platform that brings local and global manufacturers in touch with the latest updates in manufacturing industry, and offers direct access to innovative ideas and cross-border technologies including metal cutting, metal forming, sheet metal, metrology, test and measurement, cutting tools, tooling systems, and ancillary/supporting equipment.
MTA Hanoi is expected to be the biggest international manufacturing exhibition in North Vietnam, catering to every needs of the manufacturing community in country and beyond. Last year’s exhibition was attended by over 5,300 visitors who experienced cutting-edge technologies displayed by 158 exhibitors from seven different nations and regions.
Spanning across 5,500 sqm of exhibition space, this year’s event will continue to feature a strong line-up of advanced products and cutting-edge technologies, in addition to many insightful concurrent events. Continuing 2019’s theme of Industry 4.0, MTA Hanoi 2020 is the perfect opportunity for visitors seeking to learn about digitisation and how to prepare and implement a business roadmap in this era of smarter manufacturing. Attendees will also be able to discuss future trends, technological challenges, and further steps to shape and strengthen Vietnam’s manufacturing industry.
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Hanoi Holds Inaugural Vietnam Digital Awards
The inaugural Vietnam Digital Awards has been launched in Hanoi. Honouring excellent digital products and services, it was organised by the Vietnam Digital Communications Association (VDCA) under Ministry of Information and Communications.
Deputy Minister of Information and Communications, Nguyen Minh Hong, who also chairs the VDCA, has said that the awards will occur annually and function to award organisations and individuals who have outstanding contributions in devising digital technologies for the improvement of both local and international customer experiences. Additionally, he also hopes that the awards will encourage companies in all industries to invest in and adopt digital technologies.
Among the 34 winners for this year’s digital awards, 16 were for conventional digital products and services aimed at solving social issues, while the remaining 18 were for outstanding companies and individuals who displayed strong digital transformation in their work functions.
The maiden awards comprise of two major categories that are awarded to two separate target groups. The first category covers typical digital products and services by companies and individuals within the ICT field, while the second category seeks out excellent digital applications by companies that are able to successfully digitally transform their work models and shift from a conventional business model to a digitally based operations and business environment.
According to the Organising Committee, the criteria for selecting the winners are based on the ability of the technologies to hit business KPIs as well as the features and practical functions that the technologies offer.
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Hanoi Striving To Become New Location For Iphone Production
According to Vu Tien Loc, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), Nguyen Duc Chung, Chairman of Hanoi People’s Committee is currently in discussion with Chinese corporations with the intention of diverting the entire iPhone production line to Hanoi. This is in view that the ongoing trade war has pushed investors from China to Vietnam in order to escape rising tariffs, with Hanoi rising up as the top location for investors as well as a potential production headquarters for global corporations.
Loc has also further elaborated that reasons for Hanoi being an ideal destination includes the positive impacts that the region has gained from administrative reforms, favourable weather conditions and its proximity to the Chinese market.
However, in order to feed rising demands, Hanoi has to continue improving its business environment, especially for the high-technology sector. According to Nguyen Dinh Cung, Director of the Central Institute for Economic Management (CIEM), this includes adopting a more proactive approach in attracting capital flows, speeding up administrative processes as well as utilising its advantages as a regional economic hub to create spill over effects to other provinces
According to Hanoi’s mayor, FDI is an important source of capital for social investment and it attributes to an average of 10 to 15 percent of the total social investment in the region. This has allowed FDI alone to contribute to the city’s high GRDP growth over the past few years which averages at 7.11 percent annually.
Among the 59 cities and provinces that has received foreign investment, Hanoi has also attracted the largest amount of registered capital with US$6.15 billion in the first ten months of 2018. This is equivalent to 22 percent of total investment. Ho Chi Minh City follows behind with US$4.6 billion or 16.5 percent of the total investment, and Ba Ria – Vung Tau with US$2.4 billion, accounting for 8.8 percent of total investment.
The highest grossing projects in the first ten months of 2018 include the smart city project in Dong Anh district, Hanoi with total investment capital worth US$4.138 billion and the US$600 million Lotte Mall Hanoi project that encompasses a hotel, apartment, office, and trade centre complex.
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Hanoi To Develop Smart City
VIETNAM: Amid Hanoi’s rise as an economic, political and cultural centre of Vietnam, the city looks set to join the smart urban development trend. A move that will be supported by the local government, experts as well as the city’s economic potential, human capital and technical infrastructure.
In fact, developments for the smart city has already begun due to the development of an iParking mobile search facility, a Timbuyt app for searching and taking buses as well as a smart map for the location of flooding points.
However, in order to fully achieve the development of a smart city, Chief Architect of Viettel’s Smart City Group, Le Quoc Huu has recommended that the city develop a comprehensive infrastructure layout and urban management plan so that an integrated system of data collection, analysis and management can be attained. Similarly, experts have also highlighted that the city will need to ascertain its technological needs and how a new information network can be integrated into the city’s existing infrastructure before the city’s technical foundation can be established. Along with that, experts have also commented that the city would require open mechanisms to ensure that information and data can be exchanged between itself and other localities.
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