Project

Three green and modern industrial clusters formed in Hanoi

Published

17 hours ago

March 16, 2025

Hanoi Municipal People’s Committee on March 11 issued a decision to establish three craft village industrial clusters, including Hien Giang and Hoa Binh Industrial Clusters in Thuong Tin District, and Huong Ngai Industrial Cluster in Thach That District.

Under the decision, Phase 1 of the Hien Giang Craft Village Industrial Cluster will cover an area of 9.62 hectares, focusing on industries such as woodworking, wood carving, stone carving, and other legally approved crafts. The total estimated investment for this project is 240.859 billion VND.

The Hoa Binh Craft Village Industrial Cluster – Phase 1 spans an area of 7.04 hectares, focusing on bone and horn products, household woodwork, mechanical engineering, textiles, building materials, and other legally approved industries. The total estimated investment is 240.859 billion VND.

Meanwhile, the Huong Ngai Craft Village Industrial Cluster – Phase 1 covers 10 hectares, with an estimated total investment of 249.842 billion VND. The cluster will mainly operate in forest product processing, production and trade of wooden furniture, high-end handicrafts, and other industries, following legal regulations.

The objective of these industrial clusters is to develop in a green, clean, and modern direction, incorporating advanced technology and comprehensive infrastructure, including wastewater treatment and waste collection systems.

The infrastructure construction phase is expected to take 24 months, while the operational period for the projects is set at 50 years.

The investors in industrial infrastructure businesses and enterprises operating within these clusters will receive investment incentives following the Law on Investment, Decree No. 32/2024/ND-CP (dated March 14, 2024) on industrial cluster management and development, and other relevant legal regulations.

Project

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

Published

39 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.