US firm pours capital in cross-border e-commerce project in Binh Duong
Global growth investor Warburg Pincus with headquarters in New York, the US, has decided to invest in a cross-border e-commerce project in the southern province of Binh Duong.
Binh Duong (VNA) – Global growth investorWarburg Pincus with headquarters in New York, the US, has decided to invest in a cross-border e-commerce project in the southern province of Binh Duong.
Covering 75 hectares, the project will include high-tech factories, warehouse, customs bonded warehouse, showrooms and offices.
Charles R Kaye, director general of Warburg Pincus, said Binh Duong has achievedimpressive results in economic development, especially successfully implementing thedual goal of COVID-19 prevention and control as well as resuming its economy.
He expressed his wishthat the province will create favourable conditions for the firm so that the project will be carried out soon, saying that it is a major strategic project which he believes will elevate the position of theprovince in particular and Vietnam in general in the field of e-commerce.
An overview of the working session between chairman of Binh Duong province People's Commitee and a delegation from US's Warburg Pincus. (Photo: VNA)
Vo Van Minh, chairman of the provincial People’s Committee,committed to offering the best condition for the success of the project,contributing to the construction of Binh Duong smart city in the future.
The southern industrial hub of Binh Duong is a popular destination for foreign investors. As of September 15, the province was home to 4,069 foreign-invested projectswith total registered capital of nearly 39.6 billion USD. Binh Duong iscurrently ranked 2nd in the country in attracting foreign direct investment,after Ho Chi Minh City.
꧃ It has attracted 2.6 billion USD in the first nine months of 2022. TheUS currently ranks 13th out of 65 countries and territories that have investedin the province with 131 projects, worth 1.3 billion USD./.
Binh Duong posted a highest-ever trade surplus of around 6.3 billion USD in the first half of 2022 as its foreign trade has seen quick recovery since the beginning of this year on the back of the recovery of global production and supply chains.
So far this year, the southern province of Binh Duong – a magnet for foreign investment of Vietnam – attracted over 2.5 billion USD in FDI, up 74% year-on-year.
Domestic investment in the southern province of Binh Duong topped 62.3 trillion VND (3 billion USD) as of August 15, up 2.1% annually, surpassing the foreign direct investment (over 2.5 billion USD) for the first time, reported the provincial People’s Committee at a press conference on August 30.
Minister of State at the Indian Foreign Ministry Rajkumar Ranjan Singh has said that India is open in its investment in and cooperation with Vietnam in general and Binh Duong province in particular.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
A corner of Binh Duong city. (Photo: VNA) 
An overview of the working session between chairman of Binh Duong province People's Commitee and a delegation from US's Warburg Pincus. (Photo: VNA) 
