[Round-up] Samsung Launches Second Vietnam R&D Center, Vietnam among Top 3 Stock Markets

Tuan Minh

07:00 28/11/2017

BizLIVE - Samsung has put into operation the second research & development center in Vietnam, located in Ho Chi Minh City. Vietnam has emerged as the third-best performing stock market globally.

[Round-up] Samsung Launches Second Vietnam R&D Center, Vietnam among Top 3 Stock Markets

Samsung has operated the second R&D center in Vietnam. Photo: Fuzdilla

Samsung Launches Second Vietnam R&D Center
South Korean tech giant Samsung has put into operation the Samsung Ho Chi Minh City Research & Development Center (SHRD), the second of its kind in Vietnam, after the first in Hanoi.
The new R&D center, located within the Samsung Electronics Ho Chi Minh City CE Complex, will focus on designing household appliances while the first one specializes in mobile devices and applications.
Vietnam Ranks Third among World’s Fastest-growing Stock Markets
Vietnam’s stock market has something to cheer about, as the benchmark VN Index has risen 41% since the start of this year, making it the third-best performer in the world after Mongolia (91%) and Argentina (60%), according to Bloomberg’s data.
The VN Index recorded the best weekly gain in the past eight years from November 20 to 24, closing on Friday at an almost decade high of 935.57 points, over 5 per cent higher than the previous week.
Singaporean Businesses Urged to Expand Investment in Vietnam
Chairwoman of the National Assembly Nguyen Thi Kim Ngan has called on Singaporean firms to continue investing and expanding their business production activities in Vietnam, across the spheres of tourism, education, smart city, finance, renewable energy, high-tech agriculture and real estate, among others, the Nhan Dan (People) newspaper reported.
The senior legislator made the appeal while meeting with representatives from Singaporean companies investing in Vietnam on November 27, as part of her official visit to Singapore at the invitation of Singaporean Parliament Speaker Tan Chuan Gin.
Vietnam to Spend $1.3 Billion on Developing Tourism Infrastructure
The Vietnamese government has approved a target program on developing tourism infrastructure till 2020, with investment of over 30.66 trillion dong ($1.3 billion), according to the Vietnam National Administration of Tourism on Monday.
Under the program, the state money will be used to fund projects on constructing or upgrading main roads to regional tourism centers and places of interest as well as building waste treatment systems in tourist attractions.
SK Chairman Discusses Privatization of Public Enterprises in Vietnam
SK Group Chairman Chey Tae-won met with Vietnamese Prime Minister Nguyen Xuan Phuc to discuss the privatization of state-owned enterprises in Vietnam and the operation of the working-level consultative body for streamlining the energy industry.
SK Group said on Friday that Charmain Chey had a meeting with the Vietnamese prime minister in Hanoi. “In conjunction with the Vietnamese future growth strategy, SK would like to lay the foundation for a win-win partnership with its Vietnamese counterparts,” the South Korean company quoted the chairman saying.
In reply, the Vietnamese prime minister said Vietnam will expand the privatization of public enterprises for the growth of the country’s economy in the long term and is looking forward to SK’s role in the country’s efforts.
Korea’s Casual Wear Label Hazzys Lands in Vietnam
South Korea’s casual fashion label Hazzys, a signature lineup of the country’s LF Corp. (formerly LG fashion), has successfully landed in Vietnam for the first time as a Korean casual apparel brand.
Hazzys said on Sunday it has opened its two stores at Lotte Department Store in Hanoi – a men’s and women’s clothing and accessories outlet. Before the entry, LF clinched a contract to have an exclusive right to export its Hazzys products to Vietnam with a local fashion retailer.
Hong Kong-based Hendale Capital Invests in Vietnam’s Online Travel Agency Vntrip
Hendale Capital, a Hong Kong-based late-stage investment firm, has invested in Vietnamese online travel agency (OTA) Vntrip, it confirmed to DEALSTREETASIA.
The investor declined to provide any other funding details. Vntrip had earlier announced that it had raised $10 million in funding. Vntrip is the first company in its Southeast Asia portfolio.
Lotte Duty Free, South Korea's top duty-free operator and a subsidiary of conglomerate Lotte Group, has announced it will open a second outlet in Vietnam next year as foreign holidaymakers rush to the Southeast Asian country, Korean media reported.
The new store will be located at the new terminal for international passengers of Cam Ranh International Airport in the central province of Khanh Hoa, well-known for its crystal beaches.
Ho Chi Minh City is forecast to receive another $1.3 billion in overseas remittances from now to the end of 2017, leading to the whole-year amount of $5.2 billion, up 6% from 2016, a central banker has said, slightly down from his own prediction a month ago.
Remittance inflows to the city, the country’s largest economic hub, totaled $3.9 billion in the first ten months of this year, up $600 million from the January-September period, Nguyen Hoang Minh, deputy director of the municipal branch of the State Bank of Vietnam was quoted by the Tuoi Tre (Youth) newspaper as saying.
The Vietnam People’s Army will keep a 100% stake in 17 enterprises to ensure military power, down from 88 currently, Defense Minister Ngo Xuan Lich said last week, amid voices demanding the army relinquish economic activities.
The 17 companies are entrusted with military-defense tasks in combination with economic assignments while the other will be rearranged via consolidation and/or privatization to ensure their effectiveness and efficiency, Lich said at a parliament session.