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Industrial production on the mend: Deputy Minister

Published

9 hours ago

March 14, 2025

Vietnam’s industrial production has continued its rosy signs since late 2023, promising a bright prospect for the country in the time ahead, Deputy Minister of Industry and Trade Phan Thi Thang said at the Government’s regular press conference in Hanoi on August 5.

According to the official, Vietnam’s Purchasing Managers’ Index (PMI) in July 2024 reached 54.7 points, the highest since November 2018, with output increasing sharply thanks to increasing new orders for four consecutive months.

The index industrial production (IIP) in July grew by 0.7% over the previous month and 11.2% year-on-year, Thang said, noting the index saw increases in 60 provinces and centrally-run cities in the first seven months of this year.

She attributed the result to improvements in the production capacity of domestic businesses that have also shown their readiness to optimise opportunities to access new markets in the time to come.

Additionally, the deputy minister said, support policies and the drastic instructions of the Government and the Prime Minister in public investment disbursement and the implementation of key industrial projects have helped consolidate the confidence of both domestic and foreign firms.

The official also pointed to a range of challenges such as intrinsic weaknesses, regional and global volatilities, the risk of global supply chain disruptions, and the reliance on some export-import markets, along with the pressure of trade remedy investigations.

Given this, the Ministry of Industry and Trade will speed up public investment disbursement, review obstacles to key projects in electricity, oil and gas, processing and manufacturing, and minerals in order to soon put them into operation, and continue its cooperation with FDI firms and big enterprises at home and abroad as well as international organisations to step up connectivity and improve capacity for domestic suppliers.

The ministry will also encourage the purchase of home-made goods, and seek new markets for key exports, Thang added.

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PM asks businesspeople to maximise opportunities from industrial revolution

Published

27 minutes ago

March 14, 2025

Industrialzone.net

Prime Minister Pham Minh Chinh on October 4 urged businesspeople to carry forward their pioneering role in optimising opportunities generated by international integration and the Fourth Industrial Revolution.

Chairing a meeting between permanent Government members and businesspeople in Hanoi on the occasion of the Vietnam Entrepreneurs Day (October 13, 2004-2024), the leader stressed that the day is to honour entrepreneurs and encourage them to make more contributions to the country.

The Party, State, and Government always welcome and support Vietnamese businesspeople that have played a key and pioneering role in spurring socio-economic development, and advancing the country’s reputation and position in the international arena, he affirmed.

Noting the growth of the contingent of Vietnamese businesspeople in both quantity and quality, the PM said many of them have affirmed their foothold in the region and the world at large.

Chinh asked them to renew traditional growth engines, utilise new boosters, and participate in newly-emerging trends and areas of the world.

Businesspeople and enterprises were also urged to raise proposals to the Government and the PM to complete institutions, mechanisms, and policies, thus facilitating their operations.

They should better perform their social responsibility, play a more active role in ensuring social welfare, and continue their support to disadvantaged groups, as well as those in remote, border, and island areas, the PM said.

Project

Japan’s Parts Seiko opens $10 mln metal product factory in Vietnam

Published

1 hour ago

March 14, 2025

Industrialzone.net

Parts Seiko Vietnam, a subsidiary of Japan’s machine tool manufacturer Parts Seiko, inaugurated its $10 million factory, also its first in Vietnam, on Monday.

The factory, located in Song Khoai Industrial Park developed by Thai real estate giant Amata, is the firm’s third overseas facility, in addition to those in China and the Philippines.

Parts Seiko holds an inaugural ceremony in Quang Ninh province, northern Vietnam on March 3, 2025. Photo courtesy of Quang Ninh newspaper.

The factory has an annual capacity of 40 tons of products, including shaft supports, shaft rings, washers, clamps, and taper washers. Parts Seiko aims to export its products to Japan and other Asian markets.

At the inaugural ceremony, Parts Seiko representative said the company appreciated provincial authorities’ support for the project to overcome super typhoon Yagi, which pushed back the construction of the factory. Parts Seiko received an investment registration certificate for the project in July 2023.

As of end-2024, Vietnam’s registered FDI reached $502.8 billion with 42,002 valid projects. Japan was the third-biggest source with 5,512 projects worth $78.28 billion, according to the Ministry of Planning and Investment, now the Ministry of Finance.

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Vietnamese PM visits Ras Laffan industrial city, concludes Qatar trip

Published

3 hours ago

March 14, 2025

Industrialzone.net

Vietnamese Prime Minister Pham Minh Chinh on November 1 visited Qatar Energy-invested Ras Laffan industrial city, 80 kilometres to the northeast of Doha before wrapping up his official visit to the Middle Eastern country.

The industrial complex houses major oil refineries and gas processing facilities, including ORYX GTL, Pearl GTL, and Dolphin. With its enclosed artificial bay spanning 4,500 hectares of water surface, Ras Laffan serves as Qatar’s primary liquefied gas production hub and the world’s largest LNG export facility.

Established in 1996, it initially focused on storing and processing natural gas from the North Field. Over time, growing demand has transformed Ras Laffan into a massive industrial zone, with expanding LNG production facilities.

Currently, there are 13 major corporations and companies in the gas sector operating within the complex. Along with industrial facilities, Ras Laffan features Qatar’s top-quality infrastructure facilities such as the Ras Laffan emergency and safety training centre, the Erhama bin Jaber Al Jalahma shipyard, and the Ras Laffan hospital.

PM Pham Minh Chinh (second from left) visits Ras Laffan industrial city before concluding his official trip to Qatar. (Photo: VNA)

PM Chinh praised Qatar’s innovative thinking, strategic vision and expertise in developing the artificial bay and the specialised industrial complex.

As Vietnam, which boasts a 3,000-kilometre coastline, is developing major seaports and sea encroachment areas, PM Chinh proposed Qatar and Qatar Energy in particular cooperate with, invest in and help the country with financial assistance, technology transfer, human resources training, and management expertise in developing similar industrial parks and sea encroachment areas.

This was the last activity of the Government leader during his tour to the Middle East for an official visit to the United Arab Emirates (UAE); attendance at the 8th Edition of the Future Investment Initiative and working trip to Saudi Arabia; and official visit to Qatar.

PM Chinh, his spouse and the high-level delegation of Vietnam left Doha to return home at noon on the same day.