return icon

Intel, Samsung eye fully running HCM City plants in late November

Intel Corp. and Samsung Electronics Co. are both aiming to resume full operations of their HCM City plants by the end of November.


The US' business publication Bloomberg has recently published an article to highlight that Intel Corp. and Samsung Electronics Co. are both aiming to resume full operations of their HCM City plants by the end of November, a move that could provide relief to global supply chains.

At present Saigon Hi-Tech Park is helping many of its tenants, several of whom are currently running at approximately 70% capacity, to operate fully next month, according to Le Bich Loan, the park’s deputy manager, during a phone interview.

According to the article, Loan did not elaborate further on the steps that the park is taking, particularly with regards to the efforts aimed at bringing back workers who fled to their home provinces due to COVID-19.

The newswire stated that the Ho Chi Minh City unit of Nidec Sankyo Corp., maker of magnetic card readers and micro motors, is also looking to return to full operation in late November, Saigon Giai Phong reported, citing details given by Loan.

Samsung, Intel, and Nidec Sankyo did not immediately respond to requests for comment, according to the article.

The technology park is home to dozens of factories that produce components or services for global companies. Several companies operating within the Saigon Hi-Tech Park lost roughly 20% of their export orders in July and August due to COVID-19, Loan was quoted as saying by Saigon Giai Phong newspaper.  

Throughout July Samsung shut three of its 16 workshops in Saigon Hi-Tech as it reduced workers at its HCMC CE Complex by more than half. Elsewhere, Intel, which has a test and assembly plant in Saigon Hi-Tech, had its workers on a sleepover arrangement in a bid to avoid halting operations.

Domestically, Samsung has six factories and is building a research and development centre. With 110,000 local employees, Samsung has invested more than US$17.7 billion in the country, with export turnover reaching more than US$56 billion last year.

During a recent meeting with the Prime Minister, Choi Joo-ho, general director of Samsung Vietnam, said that the company achieved a growth rate of 10% from January to July compared to the same period last year, and that if the factory in Ho Chi Minh City resumes normal operations, Samsung could exceed this year's export target.

Source: VOV/Bloomberg 


Power shortage worries increase hunger for coal

Vietnam is maximising its coal mining output amid widespread power outages in the north.

Indicators ripe for wave of tech startup successes

Venture capital investment flows into Vietnam, particularly from Singapore, are on track to surpass the previous level, propelled by the country’s buoyant tech startup scene.

Tourism industry faces serious labor shortage

Because of low pay, many workers have left the tourism sector.

Industrial parks, economic zones absorb US$ 230 billion in foreign direct investment

Industrial parks (IPs) and economic zones (EZs) across the country have attracted nearly 11,000 foreign direct investment projects worth US$230 billion, according to Deputy Minister of Planning and Investment Tran Quoc Phuong.

Property, fishery sectors face hardship as credit chokes

At a government-to-business conference held yesterday, representatives of business associations expressed their concern over being unable to access bank loans as banks are running out of credit growth quotas.

Utilising every opportunity to grow and overcome challenges

That is the message and guideline of Minister of Planning and Investment Nguyen Chi Dung at the national conference on how to sustainably develop.

Outbound tours to Europe rocked by passport tangle

A number of Vietnamese outbound travel companies have already been affected by the decision of some European nations to not recognise Vietnam’s new passports.

Young people discover the universe via telescopes

Many young people have been spending time and money to buy telescopes and build rooftop observatories to admire the wonders of the universe.

Ample room remains for Vietnam’s exports to EU

There is still a lot of room for Vietnamese goods to expand their presence in the European Union (EU) market, but accessing its retail distribution systems is extremely important, heard a seminar in Ho Chi Minh City on August 11.

Vietnam yet rolls out Covid jabs for under-5s

Vietnam has yet planned to get younger kids aged under five vaccinated against COVID-19, according to the Ministry of Health (MoH).

Vietnam to host Mekong Tourism Forum in October

Vietnam is scheduled to host the 2022 Mekong Tourism Forum, themed “Rebuild Tourism, Rebound with Resilience”, from October 9 – 14, the first in-person meeting of the six Greater Mekong Subregion (GMS) destinations since the pandemic began in 2019.

Cryptocurrencies show high risks

Even though cryptocurrencies are not legally recognized in Vietnam, they have gradually become popular due to unlawful trading via specific platforms.

Pandemic-hit labourers continue to receive financial support

The Unemployment Insurance Fund plans to pay out 1.15 trillion VND (49.15 million USD) to support labourers affected by the COVID-19 pandemic, according to a resolution issued by the National Assembly (NA) Standing Committee.

Seven petroleum wholesalers’ licenses suspended

The Ministry of Industry and Trade suspended the operating licenses of seven key petroleum import and export businesses after inspecting 33 wholesalers in February this year.

President reduces death penalties to life sentences for 21 prisoners

President Nguyen Xuan Phuc on August 12 decided to reduce death penalties to life sentences for 21 prisoners, including two foreigners.