AEC Feed

VN LURING INVESTMENT FROM ASIAN NEIGHBOURS

Capital from neighbours into Vietnam is increasing, the Ministry of Planning and Investment’s Foreign Investment Agency said.

ANA Holdings Inc, owner of Japan’s biggest airline All Nippon Airways, will buy an 8.8-per-cent stake in national flag carrier Vietnam Airlines. 

Singapore’s Maple Co will build a US$110 million (Bt4 billion) garment factory in the Vietnam-Singapore Industrial Park that is expected to produce 22 million pieces per year when it goes into operation in 2018.

Malaysia’s United More will build a $21-million plant to make TV screen frames and plastic covers in the Saigon Hi-Tech Park. The plant is set to begin production next quarter with initial capacity of 4 million units per year.

Investments by Thai businesses have particularly been busy. The government’s online newspaper, baochinhphu.vn, reported that Thai beer firm Singha Asia is expected to complete its $1.1-billion purchase of Masan Group stakes this month. – Hanoi, Viet Nam News

 

ASTINO PLANS TO TARGET VIETNAM AND INDONESIA

Building material and roofing products manufacturer Astino plans to tap overseas markets in two years for its agro-house and green-house structure products. Ng Back Teng, chief executive officer, said on Friday that the group was now selling the products only in Malaysia. “We have in mind the markets in Vietnam and Indonesia.” – George Town, The Star