The investment licence granting ceremony (Source: VNA)
The northern province of Vinh Phuc on October 22 granted an investment licence to Japan’s Sumitomo Group to build Thang Long III Industrial Park.
Covering more than 213 hectares on the site of the former Binh Xuyen II Industrial Park in Thien Ke and Tam Hop communes in Binh Xuyen district, the project has two phases, with the first costing 1.53 trillion VND (67 million USD).
The 1.5 billion USD project is expected to help lure 79 smaller projects and create a breakthrough for the local industry, which is mainly driven by the auto and motorcycle sectors.
The project should bring in environmentally friendly, high-tech businesses from the support industry and spare part manufacturing.
Once the project’s technical infrastructure and services are operational in late 2024, the park will generate about 25,000 jobs and contribute additional millions of dong to the State budget.
Thang Long III Industrial Parks the tenth among the 19 prioritised industrial parks ratified by the Prime Minister in Vinh Phuc province.
Earlier, Sumitomo Group built Thang Long I and II Industrial Parks in Hanoi and the northern province of Hung Yen.-VNA
Prime Minister Nguyen Tan Dung chaired a discussion with representatives from 15Japanese groups in Tokyo on July 3, reiterating Vietnam’s commitment to providing optimal conditions for foreign direct investments, including those from Japan.
Japan’s Sumitomo Corporation will build an industrial park in northern Vinh Phuc province, as said in a memorandum of understanding it signed with the provincial People’s Committee on May 29.
Japan’s two leading property companies, the Daiwa House Group and Nomura Group, have revealed their intention to join hands with Sumitomo Forestry Co., Ltd to invest in Vietnam’s market.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Vietnam is now positioning itself as a global manufacturing hub with a diversified export portfolio, improved product quality, and enhanced price competitiveness.
The investment licence granting ceremony (Source: VNA)
