Japan’s Tokai Kogyo Group yesterday kicked off construction of a plant worth $10 million to produce automobile spare parts in Vietnam’s central city of Danang, in a move to meet a soaring demand in Southeast Asia.The plant, to be located on a 47,000-square-meter site at Hoa Cam Industrial Zone, is the fifth of Tokai Kogyo in the world and the third in the Southeast Asian region, state media reported. see more
Japan’s Mitsubishi Electric Corporation announced Tuesday that it had established a Vietnam company this month to coordinate sales of air-conditioning systems, home appliances and, from next year, factory automation products.Mitsubishi Electric Vietnam Company Limited will officially start operations on July 1, targeting annual sales of 8 billion yen (about US$95 million) by the fiscal year ending in March 2016. see more
The Hanoi Transport and Services Corporation (Transerco), on July 16th, put the first automated 5-storey car park, at a cost of VND13 billion, into operation after three months of construction.The facility, made by steel, is located on 126sqm at 32 Nguyen Cong Tru street in Hai Ba Trung district, with a capacity of housing 30 automobiles. see more
The Vietnamese government has agreed to add the 1,500 megawatt thermal power plant invested by Taiwan’s Formosa Plastic Group into the national power development plan until 2020. see more
The People’s Committee of the northern province of Quang Ninh of VIetnam held discussions with Netherlands-based Veka Shipbuilding Group (Veka) which is seeking investing opportunities.Frank Muiler, managing director of Veka hopes to have long term cooperation with Quang Ninh province. Muiler wants to develop shipbuilding industry in Vietnam. see more
