Project

Hanoi’s industrial production sees positive growth

Published

1 day ago

March 16, 2025

Since the beginning of 2024, industrial production in Hanoi has been continuing to recover positively.

In the first seven months of 2024, it is estimated that the index of industrial production (IIP) increased by 5.2% over the same period in 2023.

Within this figure, the processing and manufacturing industry increased by 4.4%; electricity production and distribution increased by 12.8%; water supply and waste and wastewater treatment increased by 8.8%; and the mining industry decreased by 3.3%.

In July 2024 alone, the IIP is estimated to have increased by 2.3% over the previous month and by 6.2% over the same period in 2023, with the processing and manufacturing industry having increased by 2.2% by 5.9%; electricity production and distribution increased by 3.6% and 9.9%; water supply and waste and wastewater treatment increased by 0.5% and 5.1%; and mining decreased by 1.3% and 3.2%.

In addition, most processing and manufacturing industries achieved a fairly high growth rate compared to the same period in 2023, such as: machinery and equipment production, up 14.9%; paper and paper products production, up 13.8%; bed, wardrobe, table and chair production, up 11%; other processing and manufacturing industries, up 9.1%; electrical equipment production, up 8.7%; and chemical and chemical products production, up 7.8%.

Meanwhile, the number of workers working in industrial enterprises as of the end of July 2024 is estimated to have increased by 0.5% compared to the previous month and decrease by 0.2% compared to the same period in 2023.

In the first 7 months of 2024, the labour utilisation index of industrial enterprises decreased by 1.4% compared to the same period last year; the number of workers working in non-state enterprises decreased by 3.7%; the foreign-invested sector decreased by 0.6%; and the state sector increased by 1.6%.

By economic sector, the number of workers working in the processing and manufacturing industry decreased by 1.8% (in which, food processing decreased by 12.8%; machinery and equipment production decreased by 10.8%; textile decreased by 9.8%; wood processing and wood product production decreased by 8.5%), while electricity and gas production and distribution decreased by 0.4%.

Project

Foreign offshore wind power investors can sell projects, Vietnam SOEs prioritized to buy

Published

33 minutes ago

March 17, 2025

Industrialzone.net

Foreign investors of offshore wind power projects in Vietnam can sell their projects, and wholly state-owned enterprises (SOEs) or subsidiaries of those SOEs are prioritized to buy them.

The transaction is only permitted if the Vietnamese investors in the company refuse to purchase, according to the government’s Decree 58/2025 on renewable and new energy, effective from March 3, 2025.

Transactions of a part of an offshore wind project or an entire project must comply with the Electricity Law 2024 and other laws related to investment, enterprises, and sea.

They must be approved by the Ministry of National Defense, the Ministry of Public Security, the Ministry of Foreign Affairs, and the Ministry of Industry and Trade if there is involvement of foreign investors.

A sea-based wind power project in Tra Vinh province, Mekong Delta, southern Vietnam. Photo courtesy of Trungnam Group.

In cases of not-yet operational projects, the foreign buyers must meet the following requirements.

First, they must have experience in investing and developing at least one offshore wind power project that is operational in Vietnam or in the world. “Experience” includes direct investment, contributing a minimum 15% of the project’s total investment capital, and the ratio of equity to capital contribution being at least 20%.

Second, the foreign buyers must ensure that the offshore wind power project has the participation of domestic enterprises with at least 5% of chartered capital or voting shares of the company that implements such projects. The “domestic enterprises” must be wholly state-owned enterprises (SOEs) or firms with SOEs holding more than a 50% stake.

Third, they must commit to utilizing domestic supplies (workforce, service, products) during their investment, construction and operation, on the basis of ensuring competitiveness of prices, quality, schedule, and available capability.

For operational projects, the transations must meet the “second” requirement mentioned above.

Project

Law on national defence, security industry, industrial mobilisation passed

Published

3 hours ago

March 17, 2025

Industrialzone.net

The 15th National Assembly (NA) on June 27 passed the law on national defence-security industry and industrial mobilisation in its ongoing seventh plenary session.

Specifically, all the 464 deputies present in the sitting, or 95.47% of the total number of deputies, said “yes” to the law.

The law comprises seven chapters and 86 articles.

Article 80 in the draft law proposed earlier about the responsibilities of People’s Court was removed, while Article 28 was added on the development of technologies with dual purposes and Article 71 on training, research, and expert exchanges to serve defence-security industry.

The law will take effects from July 1, 2025.

Project

Taiwan’s electronics firm Good Way Technology to invest $15 mln more in Vietnam

Published

4 hours ago

March 17, 2025

Industrialzone.net

Good Way Technology, a Taiwan-based original design manufacturer (ODM) specialized in computing and mobile peripherals, will invest $15 million more in Vietnam.

In a recent filing with the Taipei Exchange (TPEx), Good Way Technology said it would invest $15 million in Good Way Cayman and then reinvest the entire amount in its sub-subsidiary Good Way Technology Vietnam.

The construction site of Good Way Technology factory in Thai Binh province, northern Vietnam. Photo courtesy of Lao Dong (Labor) newspaper.

The purpose of the move is “long-term investment,” according to the filing.

Good Way Technology Vietnam received an investment certificate for the project in October 2023. In February 2024, it kicked off the construction of a $45 million factory in the northern province of Thai Binh.

The factory, located in the Lien Ha Thai Industrial Park, will manufacture peripheral devices like USB connectors for computers. It will have an annual capacity of 3.7 million items.

Construction of the project’s first phase is scheduled for completion in Q3/2024, enter trial production the next quarter and start official production in Q1/2025.

Corresponding times for the second phase will be Q4/2026, Q1/2027 and Q2/2027.