Korean auto part maker inaugurates plant in Ninh Binh
The Republic of Korean-based automobile part manufacturer ESMO Corporation inaugurated its 12.9-million-USD plant in the northern province of Ninh Binh on September 20.
The ESMO VINA plant opened in Ninh Binh province on September 20 (Photo: VNA)
Ninh Binh (VNA) – The Republic of Korean-basedautomobile part manufacturer ESMO Corporation inaugurated its 12.9-million-USDplant in the northern province of Ninh Binh on September 20.
Located at the Gia Phu industrial cluster in Gia Viendistrict, the ESMO VINA plant, built at a cost of more than 300 billion VND(12.9 million USD), spans 63,600 square metres.
The facility, capable of producing about 450,000 itemsannually, will become operational in early 2020.
Speaking at the inauguration ceremony, Lee Huyn Chul, CEO ofESMO VINA, said the plant is ESMO’s new move to make inroads into the SoutheastAsian market.
He hopes its operation will create stable jobs for locals andcontribute to socio-economic growth in Ninh Binh.
Nguyen Ngoc Thach, Vice Chairman of the provincial People’sCommittee, said Ninh Binh will continue its administrative reform to attractmore domestic and foreign investors, particularly those from the RoK.
Ninh Binh is home to eight industrial parks and 27industrial clusters./.
The Truong Hai Automobile Company (Thaco) plans to export locally manufactured buses, cars and semi-trailers as well as spare parts and accessories to the US, Canada, Thailand, Singapore and the Philippines worth 60 million USD in 2019.
The automobile industry of Vietnam has witnessed progress in the last two years, but the localisation rate (local part supply) still remains low, not meeting the set target, according to a Ministry of Industry and Trade (MoIT) report sent to the National Assembly for discussion and direction.
The Vietnam Motor Show 2019 (VMS 2019), to be held in Ho Chi Minh City from October 23 to 27, will be a get-together of 15 renowned automobile brands and hundreds of others in the automobile support industry, according to organisers.
Truong Hai Auto Corporation (THACO) on September 14 inaugurated its upgraded and expanded Thaco KIA factory at the Tam Hiep Industrial Zone in the central province of Quang Nam.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
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.
The ESMO VINA plant opened in Ninh Binh province on September 20 (Photo: VNA) 
