[Round-up] Vietnam Stresses Environment for FDI, Marquardt Eyes Auto Parts Plant in Da Nang

Tuan Minh

20:44 01/07/2016


The Vietnamese government has emphasized it will not loosen environmental requirements when attracting foreign investments. Germany’s Marquardt Group plans to invest $35 million-$50 million to build an auto parts manufacturing factory in Da Nang city.

[Round-up] Vietnam Stresses Environment for FDI, Marquardt Eyes Auto Parts Plant in Da Nang

The Vietnamese government has emphasized it will not loosen environmental requirements when attracting foreign investments.

Binh Duong Well-Positioned to be Major Logistics Center
The southern province of Binh Duong is expected to be a major logistics center in the region on the back of its location near seaports and infrastructure, the Vietnam News Agency (VNA) reported, citing participants at a local seminar held on June 30.
The province is currently home to 21 bonded warehouses, two inland container depots and 31 customs agents which provide logistics services for exporters and importers, many of them meet international standards.
Nghe An Works to Attract Foreign Investments
The central coastal province of Nghe An has paid heed to renovating and enhancing promotional activities to draw investment from such key partners as Japan, South Korea, Singapore and Thailand, according to VNA.
Along with keeping close inspection on low-speed projects and addressing difficulties for investors, the province has also joined hands with relevant ministries and agencies like the Korean Trade-Investment Promotion Agency (Kotra), the Japan External Trade Organization (Jetro) and the Foreign Investment Agency (FIA) to promote foreign investment in the locality.
Ha Giang Eyes Trade Representative Office in Japan
Vice Chairman of the Ha Giang provincial People’s Committee Nguyen Minh Tien has called on Japan’s Vietnam Economic Research Institute (VERI) to assist the locality in opening a representative office in the country in order to promote trade between the two sides.
At a working session with a VERI delegation on June 30, Tien suggested the Japanese institute help Ha Giang train skilled workers who can meet requirements set by the Japanese market, according to VNA.
Marquardt to Build Auto Parts Factory in Da Nang
Germany’s Marquardt Group plans to invest $35 million to $50 million to build an auto parts manufacturing factory in Da Nang city, VNA cited Vice President Asia at Marquardt Group Peter Schaumann as saying.
Construction of the plant will be carried out over two to three years and employ some 600 workers, 200 of them being engineers and high-end technicians.
Vietnam Strives to be one of World’s Biggest Exporters
Vietnam strives to be one of the world’s biggest exporters on the back of signed free trade agreements, Prime Minister Nguyen Xuan Phuc told Director of Harvard Centre for International Development Ricardo Hausmann during a reception in Hanoi on June 30, according to VNA.
Professor Hausmann said Vietnam is among a few developing countries which recorded a rapid and impressive export growth, and suggested diversifying exports and increasing products’ added value if the country wants sustainable growth.
Australia’s Cattle Export Suspension Impacts Vietnamese Firms
Australia has suspended the export of cattle to Vietnam as a Vietnamese company violated the Exporter Supply Chain Assurance System (ESCAS), affecting local livestock farming as well as the prestige of Vietnam in general, VNA reported.
Tong Xuan Chinh, Deputy Director of the Department of Livestock Production under the Ministry of Agriculture and Rural Development, said Australia’s suspension of cattle shipments to Vietnam since June 13 is unprecedented, but it was foreseeable.
Japanese Agricultural Model Eyes Promoting Links with Vietnam
Kawakami village in Japan’s Nagano prefecture, a leading hi-tech agricultural model, wishes to boost cooperation with Vietnam in agriculture, Head of the village Fujihara Tadahiko told Vietnamese Ambassador to Japan Nguyen Quoc Cuong.
In a working session with Ambassador Cuong on his working visit to Kawakami on June 27-28, Tadahiko stressed that the local authorities hope to receive more Vietnamese agricultural trainees and students, who are interested in working at and gaining more intensive knowledge of agriculture.
The Vietnamese government will not trade the environment for foreign investment, Deputy Minister of Planning and Investment Dang Huy Dong affirmed at a press meeting in Hanoi on June 30 where Taiwan’s Formosa was blamed for causing mass fish deaths in the central coast.
The statement was made as Vietnamese authorities have come under pressure to show that foreign investors are not welcomed without controls.
The Vietnam Manufacturing Purchasing Managers’ Index (PMI), which measures the country’s manufacturing performance, posted 52.6 in June, in line with the reading of 52.7 from May, signaling a further solid improvement in the health of the sector, Nikkei has said in a report.
The rate of expansion in manufacturing output in Vietnam quickened for the fourth successive month and was the sharpest since July last year, thanks to higher new orders.  
South Korea’s Samsung C&T Corp said on June 30 that it has received an $805-million order to build a production facility in Vietnam for Samsung Display Co Ltd, according to Reuters.
Reuters quoted a person familiar with the matter as saying that Samsung Display, a subsidiary of Samsung Electronics Co Ltd, planned to invest $3 billion in Vietnam by 2020 to boost its display module production capacity in the country.