The ceremony took place at Song Khoai Industrial Park (Amata City Halong) in Quang Ninh’s dynamic coastal economic zone.

Photo: Yen Linh

The complex will cover ​​30 hectares with a total investment of $690 million, with two factories and one office building. Lite-on Technology Corporation is a provider of optoelectronic semiconductor components and power management modules from Taiwan.

The factory specialises in manufacturing electronic computer components, cameras, wireless network connection devices, power converters, electric vehicle chargers, car lights, plastic products, and many other electronic devices.

The factory will have a total capacity of nearly 124 million products per year. The first phase is scheduled for completion in November.

Leveraging Quang Ninh’s support, the factory’s operation will contribute to increasing the value of industrial production and exports of local goods, creating more jobs and income for workers, increasing revenue for the state budget, and driving socioeconomic development.

At the same time, the project affirms the province’s policy to accelerate administrative procedural reform, continually improve the investment and business environment, and attract high-tech projects, smart industry, and environmental friendliness, promoting sustainable growth.

Cao Tuong Huy, Vice Chairman of Quang Ninh People’s Committee. Photo: Yen Linh

At the groundbreaking ceremony, Cao Tuong Huy, Vice Chairman of Quang Ninh People’s Committee, appreciated Lite-on Technology Group’s decision to land the project at Song Khoai Industrial Park.

Huy said that this is a core area and new growth for Quang Ninh province to be empowered by smart, modern industrial, service, urban, and seaport zones, as well as high-tech processing, manufacturing, and industrial development centres.

Quang Ninh’s vice chairman requested investors to focus their resources on the project’s implementation to ensure quality and progress, while simultaneously coordinating with relevant bodies to ensure legal compliance.

Quang Ninh Economic Zones Management Authority and Quang Yen People’s Committee have been asked to create favourable conditions for investors to speed up construction, striving to complete the project ahead of schedule.

They have also been mandated to regularly monitor, inspect, and support investors to resolve arising problems.

Shiro Sadoshima, executive advisor of AMATA Corporation and former Ambassador of Japan to Thailand. Photo: Yen Linh

Addressing the ceremony, Shiro Sadoshima, executive advisor of AMATA Corporation and former Ambassador of Japan to Thailand, noted that Lite-On Technology Group’s decision to invest $690 in Amata City Halong not only demonstrates its confidence in Amata’s business climate but also affirms Vietnam’s position as a key player in the global electronics supply chain.

“Lite-On’s choice to build production facilities for high-tech electronic products in Amata City Halong will further strengthen our high-tech industrial ecosystem,” he said.

The project will enter phase one production with a capacity of more than 64 million products per year from this November.

Investment in phase two will be completed in 2028, bringing the capacity to more than 95 million products a year. By 2030, the group will complete the entire facility with a total capacity approximating 124 million products annually.

Lite-On is a potential partner for tech brands such as Fuji Xerox, Kyocera, ASUS, Amazon, IBM, Motorola, Sony, Samsung, Sharp, Nokia, and Lenovo.

Vietnam is researching a pilot for digital asset and cryptocurrency exchange. How does the Vietnam Blockchain Association (VBA) assess the impact of this on blockchain startups and the Vietnamese economy?

Phan Duc Trung, chairman of the Vietnam Blockchain Association

Vietnam has the opportunity to become a regional hub for blockchain application, attracting international investors. Establishing a sandbox will provide conditions for businesses to experiment and develop innovative blockchain application models.

The controlled testing mechanism has a positive impact on fostering innovation, serving as a foundation to promote the application of blockchain in various sectors such as finance, healthcare, education, and logistics. This will create a sustainable innovative ecosystem, driving digital transformation in businesses and society.

A December resolution addressed AI, cloud computing, blockchain, semiconductors, quantum technology, nanotech, and sets specific goals for 2030 as well as a vision for 2045.

When applied to daily life, blockchain tech will become a digital asset, with fintech being the first industry to be impacted. The government’s selection of a cryptocurrency exchange platform for experimentation is just the beginning of this process.

According to a TripA report, Vietnam currently has approximately 20 million people who own cryptocurrency assets, accounting for over 21 per cent of the population and ranking fifth globally. With a legal framework and appropriate policies in place, legitimising these resources will have a significant impact on boosting the economy.

What are the association’s expectations for the implementation of a regulatory sandbox in Vietnam in blockchain and digital assets?

The VBA is currently researching and exchanging views with localities, especially the central city of Danang, on the implementation of a sandbox.

In January, we signed a cooperation agreement with the People’s Committee of Danang to research and propose specialised policy mechanisms for an international financial centre.

We aim to become a bridge to seek innovative startups operating in blockchain technology application, thereby building better policies after implementing the sandbox in Danang.

Moving forward, we will continue to engage with localities to better pinpoint the specific trial options for applying blockchain technology, primarily in the financial sector. A clear legal framework is crucial for localities to establish appropriate legal corridors.

Do the VBA’s members face any legal barriers in operating or testing new technologies?

Cryptocurrency and digital assets in Vietnam are still in a legal gray area.

Currently, Vietnam does not have a specific legal framework to manage these types of assets, including cryptocurrencies, digital tokens, and other forms of blockchain assets.

The State Bank of Vietnam does currently not recognise cryptocurrencies as a legitimate means of payment, while the Ministry of Finance and related agencies are still researching to develop appropriate regulations fit for the future.

The lack of a clear legal framework puts businesses and investors at risk, especially in raising capital, trading and protecting their rights. At the same time, this also poses challenges in state management, anti-money laundering, and financial fraud prevention. Many businesses are aware of this, so they tend to shift to overseas areas with clearer legal frameworks, such as Europe, where there are attractive policies for innovative startups.

Fundamentally, the digital assets show a cross-border and global nature. With a clear legal framework in place, activities related to digital assets and cryptocurrencies in Vietnam will be more convenient, helping to explore and promote the community in applying high technology in practice.

What can Vietnam learn from sandbox models in blockchain around the world?

Sandbox models around the world are being implemented very effectively, such as in the city of Lugano in Switzerland, which has promoted blockchain technology in payment sectors, financial applications, and also in terms of attraction of investment activities.

We conducted surveys in Lugano and found that the banking and finance sector contributes to 40-50 per cent of the GDP, with 8,400 employees working in financial institutions. Lugano’s strengths lie in its low tax policies and stable legal environment, making it very attractive to investors.

The city has also established a startup investment fund worth the equivalent of over $110 million, regularly supporting startups, investing in innovative projects, organising global blockchain events to draw in blockchain businesses to Lugano, and building a community of experts.

Many sandbox models in the world have been successful and have brought about great potential. However, the challenge of simultaneously testing and building a legal framework is significant, requiring thorough research.

Vietnam’s legal system is currently lacking an institutional mechanism for carbon labelling, photo Le Toan

The Department of Climate Change (DCC), under the Ministry of Agriculture and Environment, is working with international partners and consultants to implement voluntary carbon labelling for business products in Vietnam.

The initiative, sponsored by the Energy Transition Partnership, is to be carried out from now to May 2026. The target is to provide technical input and necessary support for the DCC to design and introduce a voluntary carbon labelling scheme, and prepare the private sector for carbon accounting and carbon emission reduction through a pilot programme in selected sectors.

It will assess the existing domestic policy framework and infrastructure and identify what is needed further for effective voluntary carbon labelling in Vietnam. Lessons learnt from international case studies will be used to propose enabling policies, regulations, and capacity-building measures for the Ministry of Agriculture and Environment.

According to the multidisciplinary consulting company RCEE-NIRAS, the programme will propose a design for voluntary carbon labelling, including technical components, certification and verification, institutional arrangements, implementation procedures, and capacity-building.

After that, the consultant unit will pilot the designed units in selected sectors based on a set of criteria. It will include awareness-raising, training, and communication activities to encourage the carbon labelling concept for Vietnam’s energy-intensive export sectors.

“Vietnam’s legal framework has no institutional mechanism for carbon labelling. The pilot implementation of a carbon labelling programme, based on voluntary participation, contributes to enhancing capabilities and increasing competitive advantages for businesses. In terms of technical support, the implementing agency aims to develop policies to assist the private sector in building capacity for inventory, assessment, and other sustainable development efforts,” said Hoang Anh, an expert at RCEE-NIRAS.

It is anticipated that 11 industry groups or sub-sectors will be affected by international mechanisms such as the European Union’s Carbon Border Adjustment Mechanism (CBAM), which include energy-intensive and high-emission industries, as well as sectors currently impacted by energy transition policies.

“Thus, we are considering selecting these industries for qualitative and quantitative assessment. These industries include aluminium, cement, chemicals, electrical equipment, food processing, iron and steel, plastics, and more,” said Hoang Anh.

DCC deputy director Nguyen Tuan Quang said, “Carbon labelling will help reduce carbon leakage or carbon shifting between countries, which meets the demand of developed countries applying the CBAM. It will also be a solution to enhance the businesses’ competitive capacity in the context it is a short time before the EU imposes emission taxes.”

The transitional period for the CBAM began in October 2023 and will continue until the end of 2025. During this period, importers of goods must submit reports that include the carbon price due in the country of origin for the emissions. This primarily applies to goods with a high risk of carbon leakage, such as iron and steel, cement, aluminium, fertilisers, electricity, and hydrogen.

After the transitional period, importers will be required to acquire certificates corresponding to the carbon price applicable under EU rules. After the transitional period, importers will be required to acquire certificates corresponding to the carbon price applicable under EU rules.

Voluntary carbon labelling has been implemented in many countries and has proven highly successful in guiding businesses and citizens to recognise the importance of reducing greenhouse gas emissions through smart production and consumption activities.

The PWC’s 2024 Voice of the Consumer Survey, which collected the perspectives of more than 20,000 consumers from over 30 countries and territories, indicated that consumers are willing to spend an average of 9.7 per cent more on sustainably produced or sourced goods, even as cost-of-living and inflationary concerns weigh.

The survey also suggested that more than 80 per cent of consumers said they are willing to pay more for sustainable produced or sourced goods. In terms of a price premium, some consumers are willing to pay on average 9.7 per cent more for goods that meet specific environmental criteria, including locally sourced, made from recycled or eco-friendly materials, produced in a supply chain with a lower carbon footprint, and more.

Sabine Durand-Hayes, global consumer markets leader of PwC France, said, “Consumers are increasingly feeling the squeeze of inflation and rising prices in essential goods such as groceries, however in that context, they are prioritising products that are sustainably produced and sourced. In the year ahead, companies must balance consumer affordability and environmental impact if they are to source and retain consumers.”

Around the world, many businesses have adopted carbon labelling and reaped significant benefits. In Japan, companies like Panasonic and Sony implemented this work for electronic products, boosting sales by meeting the demands of environmentally conscious consumers. Similarly, in Europe, major retailers such as Tesco and Marks & Spencer have applied carbon labelling to food products, enhancing brand image.