Taiwan’s Far Eastern group to expand business in Binh Duong
President of Taiwan’s Polytex Far Eastern Company, Douglas Tong Hsu made a visit to the southern province of Binh Duong on October 13 for business expansion opportunities.
Polytex Far Eastern Vietnam Co. was licensed in Binh Duong in 2015 (Photo: vneconomictimes.vn)
Binh Duong (VNA) – President of Taiwan’s Polytex Far Eastern Company, Douglas Tong Hsu, made a visit to the southern province of Binh Duong on October 13 to enquire about the province’s investment attraction policy for business expansion.
The company’s factory in Binh Duong, specialised in textile and chemical fiber production, is the third largest in the world, after the other two in China and Taiwan.
The company plans to make smart products in garment and electronic spare parts.
Speaking at the working session, Tran Thanh Liem, Chairman of the provincial People’s Committee said Binh Duong will offer favourable conditions for the company to expand business.
The province aims to attract investment in environmentally-friendly sectors that create products with high added value and require fewer labourers. It also focuses on urban development to become first-grade city by 2020, he added.
💟 Binh Duong is in top five localities attracting foreign investment worth over 25 billion USD in Vietnam. China’s Taiwan is one of the leading investors of Binh Duong with 730 projects worth 5.2 billion USD.-VNA
Over 50 percent of the 1 billion USD in foreign direct investment that landed in the southern province of Binh Duong was poured into the garment sector in the first six months of this year, according to Nguyen Thanh Truc, Director of the provincial Department of Planning and Investment.
Taiwan-headquartered Far Eastern Apparel Vietnam Ltd. launched the construction of a 10-hectare garment factory in the southern province of Binh Phuoc on November 10.
The Far Eastern Group from Taiwan (China) is accelerating a 760 million USD project serving cloth and fibre production in southern Binh Duong province’s Bau Bang Industrial Park.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Polytex Far Eastern Vietnam Co. was licensed in Binh Duong in 2015 (Photo: vneconomictimes.vn)
