Hanoi (VNA) - Vietnam has remained an attractive destination for Thaienterprises to expand their business despite the COVID-19 pandemic ravaging theregion.
Thailand’sDelta Electronics PCL, a global producer of power and thermal managementproducts and solutions, earlier this month announced it will establish a newsubsidiary in Vietnam in the second or third quarter of this year.
The wholly-owned subsidiary will be incorporated in Vietnam with a charter capital of 500,000 USD, the company said, and will be involved in trade andsolutions using Delta’s electronics products to benefit stakeholders andsupport local customers.
JackieChang, President of Delta Electronics, said the pandemic has not forced hiscompany to change its expansion plans in Southeast Asia. “We expect Vietnam toplay a key role in driving regional development, and Delta is ready to take anactive role in the country’s growth story,” he said.
TheInternational Monetary Fund (IMF), he added, forecasts that Vietnam will post the highest growth in ASEAN between 2020 and 2021 despite the impacts of the pandemic and thisjustifies Delta Electronics’ decision to expand its presence in the country.
The country’sSuper Energy Corporation Company Limited (Super Energy), meanwhile, last month announceda decision to invest approximately 457 million USD in four solar power projectsin the southern province of Binh Phuoc.
The corporationsaid it would pay 72.9 million USD to acquire between 70 and 100 percent of theunder-construction Loc Ninh 1, Loc Ninh 2, Loc Ninh 3, and Loc Ninh 4 solar powerplants with a total capacity of 750 MW.
The remainderof the funds, 383.8 million USD, will be used to complete construction anddevelop the projects, which are expected to become operational in December.
It expectsa feed-in-tariff (FIT) of 7.09 USD per kW/h over 20 years and revenue of about66.1 million USD annually from the four projects, starting next year.
The acquisitionis a crucial step in the company’s plan to expand its business and improve its financialperformance in the long term, said President and CEO Jormsup Lochaya. Theeconomy will recover and demand for electricity will continue to rise, headded, so it decided to make these deals.
The NikkeiAsian Review reported this month that the Siam Cement Group (SCG) of Thailand will acquire Vietnamese packagingmanufacturer the Bien Hoa Packaging JSC through a joint venture with leadingJapanese cardboard producer Rengo.
SiamCement said it was attracted by the growth potential of online shopping, asmore and more Southeast Asian consumers choose to shop online to limit trips tocrowded places as part of preventive measures against the spread of COVID-19.
The dealis estimated to be worth some 635 billion THB (19.2 million USD).
Thailandis currently Vietnam’s ninth-largest investor, with 549 projects worth10.8 billion USD. Investors from the country injected 43.64 million USD intoVietnam in the first quarter of this year./.
Thailand’sDelta Electronics PCL, a global producer of power and thermal managementproducts and solutions, earlier this month announced it will establish a newsubsidiary in Vietnam in the second or third quarter of this year.
The wholly-owned subsidiary will be incorporated in Vietnam with a charter capital of 500,000 USD, the company said, and will be involved in trade andsolutions using Delta’s electronics products to benefit stakeholders andsupport local customers.
JackieChang, President of Delta Electronics, said the pandemic has not forced hiscompany to change its expansion plans in Southeast Asia. “We expect Vietnam toplay a key role in driving regional development, and Delta is ready to take anactive role in the country’s growth story,” he said.
TheInternational Monetary Fund (IMF), he added, forecasts that Vietnam will post the highest growth in ASEAN between 2020 and 2021 despite the impacts of the pandemic and thisjustifies Delta Electronics’ decision to expand its presence in the country.
The country’sSuper Energy Corporation Company Limited (Super Energy), meanwhile, last month announceda decision to invest approximately 457 million USD in four solar power projectsin the southern province of Binh Phuoc.
The corporationsaid it would pay 72.9 million USD to acquire between 70 and 100 percent of theunder-construction Loc Ninh 1, Loc Ninh 2, Loc Ninh 3, and Loc Ninh 4 solar powerplants with a total capacity of 750 MW.
The remainderof the funds, 383.8 million USD, will be used to complete construction anddevelop the projects, which are expected to become operational in December.
It expectsa feed-in-tariff (FIT) of 7.09 USD per kW/h over 20 years and revenue of about66.1 million USD annually from the four projects, starting next year.
The acquisitionis a crucial step in the company’s plan to expand its business and improve its financialperformance in the long term, said President and CEO Jormsup Lochaya. Theeconomy will recover and demand for electricity will continue to rise, headded, so it decided to make these deals.
The NikkeiAsian Review reported this month that the Siam Cement Group (SCG) of Thailand will acquire Vietnamese packagingmanufacturer the Bien Hoa Packaging JSC through a joint venture with leadingJapanese cardboard producer Rengo.
SiamCement said it was attracted by the growth potential of online shopping, asmore and more Southeast Asian consumers choose to shop online to limit trips tocrowded places as part of preventive measures against the spread of COVID-19.
The dealis estimated to be worth some 635 billion THB (19.2 million USD).
Thailandis currently Vietnam’s ninth-largest investor, with 549 projects worth10.8 billion USD. Investors from the country injected 43.64 million USD intoVietnam in the first quarter of this year./.
VNA
