Hanoi (VNA)ꦫ - The Republic of Korea (RoK)’s LG Innotech Co. Ltd under the LG Group will invest 550 million USD into a project in the northern city of Hai Phong.
The RoK firm will build a 10-hectare factory producing module cameras at the Trang Due Industrial Zone, according to the Hai Phong Industrial Zone Management Board.
The project is the third invested by LG in the city, bringing the group’s total investment in Hai Phong to about 3.35 billion USD.
The first one is a 1.5 billion USD facility producing electronic home appliances, which was put into operation in March 2015, and the second one, also worth 1.5 billion USD, was licensed in early April this year to make OLED displays. Both of them are in Trang Due IZ.
Hai Phong is one of the country's top performers in foreign direct investment attraction alongside with Hanoi, and southern Binh Duong and Dong Nai provinces, and Ho Chi Minh City.
As of August, the city attracted more than 11 billion USD in foreign direct investment in 2016.-VNA
Hai Phong needs to have a clear investment mechanism and select projects with practical benefits for both investors and the locality, suggested President Truong Tan Sang.
The Republic of Korea (RoK)’s LG Displays Co. Ltd will invest 1.5 billion USD into its new project at the Trang Due Industrial Zone in the northern city of Hai Phong.
The northern port city of Hai Phong absorbed 1.8 billion USD in foreign direct investment (FDI) in the first half this year, 3.5 times higher than the same period last year.
The northern port city of Hai Phong has so far this year attracted more than 2 billion USD in foreign direct investment (FDI), according to the municipal Department of Investment and Planning.
According to targets adopted at the fifth Party Congress of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) on June 22, the zones aim for average capital attraction of 8–10 million USD per hectare, with a 70% disbursement rate of registered capital achieved on schedule.
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
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The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
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A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
Illustrative photo (Source:Internet)
