Sumitomo to Build Third IP in Vietnam, Total Plans Extra Investment in HCMC

Tuan Minh

16:58 26/10/2015

BizLIVE -

Japan’s Sumitomo will construct the third industrial park in Vietnam while Total Vietnam plans to invest an additional $13.4 million in HCM City.

Sumitomo to Build Third IP in Vietnam, Total Plans Extra Investment in HCMC

Japan’s Sumitomo will construct the third industrial park in Vietnam while Total Vietnam plans to invest an additional $13.4 million in HCM City.

Total Vietnam to Invest Extra $13.4 Million
Total Vietnam, the Vietnamese unit of French oil and gas giant, plans to increase its investment capital by 300 billion dong ($13.4 million) in Ho Chi Minh City.
The capital hike is part of a transformation license to become a 100% foreign-invested company of Total Vietnam, a plan submitted in July 2015. Total Vietnam’s oil manufacturer in District 7, Ho Chi Minh City, has a filling capacity of two million gas barrels per day.
Swiss Firms Seek Business Opportunities in Vietnam
Representatives of 20 small and medium-sized Swiss enterprises will travel to Hanoi and Ho Chi Minh City from October 26 to 30, to explore cooperation opportunities with Vietnam’s ICT and software industries.
During their stay in Vietnam, the delegation will visit Vietnamese and foreign-invested ICT companies, educational institutions and hi-tech parks.
Vietnam Real Estate Inventory Dwindles to $2.64 Billion
Real estate developers in Vietnam had 59.4 trillion dong ($2.64 billion) worth of unsold products as of the end of September, down 69.15 trillion dong from early 2013 and 904 trillion dong from August.
Around 1,600 transactions were made in the market in September, down 16% month-on-month and up 40% year-on-year, according to Vietnam National Real Estate Association.
Vietnam Treasury Raises 105 Trillion Dong from Bond Sales YTD
The State Treasury of Vietnam has sold 104.92 trillion dong ($4.66 billion) worth of government bonds in the year to date, versus the year’s plan of 250 trillion dong.
Microsoft Showcases Latest Solutions in HCM City
Microsoft has held a solutions summit in Ho Chi Minh City where the IT giant shares information and showcases its pioneering applications, services and solutions, leading the ‘Mobile-First, Cloud-First’ trend for enterprises.
The summit included an overview of Microsoft’s services and solutions for leaders of organization and intensive sessions for IT professionals. This summit also focused on sharing information on new productivity platforms, devices, services and solutions.
Foreign Investors Pour $8.72 Million into Vietnam’s IPs, EZs in Jan-Sept
Industrial parks and economic zones attracted $8.72 million in foreign direct investment in the first nine months of this year.
The amount increased 12% from the same period of 2014 and accounted for 67% of total FDI in the whole country, the Ministry of Planning and Investment said.
Japan’s Sumitomo to Build $135 Million IP in Vinh Phuc Province
Authorities of Vietnam’s northern province of Vinh Phuc have licensed Japan’s Sumitomo Corporation to build an industrial park worth $135 million, the third of its kind to be built by the Japanese firm in Vietnam.
The industrial park will cover an area of 213 hectares and consist of two phases. The Japanese firm will pour 1.53 trillion dong ($68 million) into the first phase that will cover an area of 94.5 hectares.
Binh Duong Province Attracts $1.63 Billion in FDI YTD
Authority of the southern province of Binh Duong last week licensed 23 new projects worth $203 million by foreign investors and the capital raising totaling $328 million of 15 other projects.
The approvals bring FDI flows to the province to $1.63 billion in the year to date, up 40% from the same period of 2014.
Gazprom to Strengthen Presence in Vietnam
Russian petroleum giant Gazprom has advanced interest in rolling out ambitious energy plans in Vietnam, to capitalize on the rising demand for energy in the country.
Gazprom and state-run energy firm PetroVietnam have set up a $1-billion joint venture, PVGazprom Natural Gas for Vehicles, which will specialize in producing engines fueled by compressed natural gas (CNG) in Vietnam.

TUAN MINH

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