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Singapore’s YCH Group seeks investment opportunities in central Vietnam port area

Published

1 day ago

March 16, 2025

YCH Group, a leading logistics firm in Singapore, is exploring investment and cooperation opportunities related to strategic projects in the Lien Chieu port area, the central city of Danang.

The Lien Chieu port area, Danang city, central Vietnam. Photo by The Investor/Thanh Van.

At a Tuesday meeting with Danang’s Chairman Le Trung Chinh, YCH Group CEO Robert Yap highlighted that the company, founded in 1955, is a global leader in providing comprehensive supply chain management services. It serves as a logistics partner for major companies across industries such as high-tech, electronics, chemicals, health care, and consumer goods.

In Vietnam, YCH Group has partnered with multi-sector conglomerate T&T Group to develop the 83-hectare Vietnam SuperPort (VPS) multimodal logistics center in the northern province of Vinh Phuc.

The center, designed with a capacity of approximately 530,000 TEUs and a total investment of $166 million, is the largest of its kind in the country. VPS aims to enhance Vietnam’s integration into the global supply chain, reduce logistics costs, and improve the country’s competitive edge in international trade.

YCH is currently looking to explore additional investment opportunities for multimodal logistics centers in central and southern Vietnam. The company is also interested in potential collaborations in workforce training and logistics technology solutions, Yap added.

Given Danang’s strong economic potential and its strategic location for transportation and cargo transshipment, YCH is optimistic about the prospects of investing in a multimodal logistics center at Lien Chieu port, he remarked.

According to the city mayor, Lien Chieu port is strategically located at the end of the East-West Economic Corridor. It is being developed with an annual capacity of 50 million tons and covers an area of about 450 hectares, including both land and water surface. The Lien Chieu port area is planned to feature three docks: one for container cargo, one for general and bulk cargo, and another for liquid cargo and gas.

Chinh explained that Danang is focusing on developing the Lien Chieu port into an international gateway port, attracting major global shipping and logistics companies. The port will be capable of accommodating large vessels and facilitating container transportation and transshipment with other international ports.

Import and export goods can be directly shipped from Lien Chieu Port to European and American countries, reducing transportation costs, he said, adding it is expected to become one of the key ports in international shipping routes for large vessels, which will elevate Vietnam’s position in the global supply chain.

“The city appreciates YCH Group’s interest in exploring investment and cooperation opportunities in Danang. The local government is committed to supporting and creating favorable conditions, providing full information to facilitate the group’s research and implementation of strategic investment projects in the Lien Chieu port area,” Chinh emphasized.

According to the municipal Statistics Office, Danang attracted $8 million in FDI in the first two month of 2025, a year-on-year decrease of 63.8%. Among these, 14 new projects registered a total capital of $7.78 million.

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E-tax system resumes full operations after temporary suspension

Published

4 minutes ago

March 17, 2025

Industrialzone.net

The suspension, which lasted from 5pm on March 12 until 8am on March 17, was necessary to enhance tax management and implement structural changes.

E-tax system resumes full operations after temporary suspension

The tax authority has stated that all systems are now running smoothly, ensuring seamless tax transactions for individuals, businesses and foreign entities. (Photo: baodautu.vn)

Hanoi – Vietnam’s electronic tax system has resumed full operations starting at 8am on March 17, after a temporary suspension for system upgrades and data restructuring, the tax authority announced.

The suspension, which lasted from 5pm on March 12 until 8am on March 17, was necessary to enhance tax management and implement structural changes.

During this period, certain services such as electronic tax payment (eTax), eTax Mobile and tax applications for individuals were temporarily halted, while other functions remained accessible.

Foreign businesses operating in Vietnam can now fully access the e-portal for foreign suppliers, which remained operational but may have experienced minor delays in processing transactions during the upgrade.

Director of the Department of Taxation Mai Xuan Thanh instructed tax departments to ensure secure data migration and a smooth transition, allowing businesses and individuals to resume using the e-tax system without disruption.

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Central Vietnam province aims to add 2,300 MW of wind power to development plan

Published

1 hour ago

March 17, 2025

Industrialzone.net

Vietnam’s central province of Quang Tri plans to add 1,800 MW of 43 land-based wind power projects and 500 MW of offshore wind power to the draft implementation scheme of the national power development plan VIII (PDP VIII).

The draft scheme also features 260.5 MW of hydropower, 119.6 MW of solar power, and 23 MW of rooftop solar power for self-consumption, Quang Tri authorities discussed last week.

Quang Tri's acting Chairman Ha Sy Dong (standing) speaks at a meeting in the province, central Vietnam, March 14, 2025. Photo courtesy of Quang Tri newspaper. — Quang Tri’s acting Chairman Ha Sy Dong (standing) speaks at a meeting in the province, central Vietnam, March 14, 2025. Photo courtesy of Quang Tri newspaper.

Until 2030, Quang Tri aims to facilitate power import of 2,000 MW from Laos.

Provincial authorities will also facilitate investors of 500 kV, 200 kV, and 100 kV power grid projects, in line with the deployment of wind, solar, gas-fired power, and imported power (from Laos) projects.

Addressing the meeting, Quang Tri’s acting Chairman Ha Sy Dong asked the Department of Industry and Trade to collaborate with investors to complete the applications for in-principle approval by March 20.

He also requested the Department of Finance to finalize the land recovery plan for site clearance by March 25.

Vietnam’s current PDP VIII has 6,000 MW of offshore wind power, including 500 MW in the central-central region.

In February 2025, Vietnamese Ministry of Industry and Trade proposed delaying the development of offshore wind power until after 2030, instead of meeting the initial target of 6,000 MW by 2030.

However, in March 2025, the Government requested that offshore wind power projects under the PDP VIII must complete by 2030.

Project

Manufacturing, processing push up industrial growth in five months

Published

3 hours ago

March 17, 2025

Industrialzone.net

Vietnam’s industrial sector experienced positive growth in the January-May period, with 55 out of 63 provinces and centrally-run cities nationwide reporting annual increases in the Index of Industrial Production (IIP), according to the General Statistics Office (GSO).

The GSO identified manufacturing, processing, and electricity production and distribution as the primary drivers of the growth. Provinces recording high growth included Phu Tho (31.2%), Bac Giang (24.9%), and Binh Phuoc (14.8%). However, some other provinces like Ha Tinh, Quang Ngai and Ca Mau saw respective declines of 9%, 8.25% and 2.5% in their indexes.

Overall, the national IIP in May continued its upward trajectory, rising 3.9% month-on-month and 8.9% year-on-year. The five-month period saw an yearly increase of 6.8%.

A deeper analysis revealed the processing and manufacturing industries as the key contributor to the growth, boasting a 7.3% rise and adding 6.4 percentage points to the overall increase. The electricity production and distribution sector also performed strongly, with 12.7% growth, contributing 1.1 percentage points. Additionally, the water supply, waste, and wastewater management sector went up 6.3%, adding 0.1 percentage point. However, the mining sector experienced a decline of 5.2%, resulting in a reduction of 0.8 percentage point in the overall growth.

Specific product categories within the processing and manufacturing sectors posted impressive growth. Production of rubber and plastic products surged by 27.4%, while electrical equipment saw a 24% increase. Production of chemicals and chemical products grew by 20.1%, followed by beds, cabinets, tables, and chairs (19.6%) and metal products (13.2%).

In light of these findings, the GSO proposed a series of recommendations to further bolster Vietnam’s industrial development. It urged the Ministry of Industry and Trade (MoIT) to prioritise a structural shift toward increasing the proportion of processing and manufacturing industries within the overall industrial sector, while simultaneously reducing reliance on the assembly and processing of imported products; enhance enterprise competitiveness and incentivise the use of domestically produced goods via technical barriers for certain imports.

Additionally, the GSO recommended that the MoIT refine key institutions such as the Key Industrial Law and the Law on Chemicals. Expediting the disbursement of public investment capital and hastening crucial projects in the fields of electricity, oil and gas, manufacturing, processing, and mining are also highlighted as crucial steps.

Head of the GSO’s Industrial and Construction Statistics Department Phi Thi Huong Nga suggested that localities should launch more stimulus and promotion schemes to increase purchasing power while helping industrial firms find partners and expand markets through trade exhibitions.