Heineken to shift production from Singapore to Vietnam and Malaysia
Dutch brewer Heineken will shift its brewing production from Singapore to Vietnam and Malaysia as part of its strategy to build a more agile regional supply approach.
Gov’t chief receives Korean businessmen
Prime Minister Pham Minh Chinh hosted separate receptions for Hyosung Chairman Cho Hyun-joon and Lotte President Shin Dong-bin in Seoul on Monday as part of his ongoing official visit to South Korea.
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| Prime Minister Pham Minh Chinh (R) and Hyosung Chairman Cho Hyun-joon, Seoul, July 1, 2024 - Photo: VGP/Nhat Bac |
Prime Minister Pham spoke highly of the performance of Hyosung Group in industry, construction, trade, IT, biology and its social responsibility in Viet Nam.
He affirmed that the Vietnamese Government will create favorable conditions for the operation of foreign investors, including Hyosung, in the Southeast Asian nation.
Since 2007, Hyosung has invested nearly US$5.1 billion in Viet Nam, creating around 9,000 jobs, and earning US$3.5 billion in revenue in 2023.
In the coming time, the Korean business giant will focus on major sectors including Hydrogen production, environmentally friendly projects (recycling of raw materials, using environmentally friendly raw materials), carbon fiber, data centers, bio-products, electric vehicle (EV) tires, Gas power cut system (GIS), electric storage system (ESS), and smart urban.
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| Prime Minister Pham Minh Chinh (R) shakes hands with Lotte Chairman Shin Dong-bin, Seoul, July 1, 2024 - Photo: VGP/Nhat Bac |
During a reception for Lotte Chairman Shin Dong-bin, Prime Minister Pham highly valued the group's operation in Viet Nam and expected that Lotte would expand its investment, especially in such areas as smart urban development and tourism.
Mr. Pham stressed that the Vietnamese Government pledges to stand by Lotte to develop large-scale projects in Viet Nam.
In reply, Chairman Shin Dong-bin was convinced that the Vietnamese economy will continue to develop vigorously.
Lotte started investing in Viet Nam in 1996 with total investment capital of $6.7 billion. It has developed an eco-smart city in Thu Thiem since September 2022 and operated Lotte Mall Westlake in Ha Noi./.
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