Business News
Business news to help you keep track of the latest developments and identify new opportunities across key sectors in Southeast Asia
Monthly Business News to Help You Understand the Market
Philippines to Build Its First Vaccine Manufacturing Facility with Korean Partner
A partnership between Philippine firm Glovax Biotech Corporation and Korean pharmaceutical company, Eubiologics, will involve the building the Philippines’ first ...
US Launches First Online Agricultural Trading Hub in the Philippines
The United States government launched its first agricultural e-commerce platform in the Philippines through the U.S Agency for International Development (USAID) in ...
Armed Forces of the Philippines Revisits Acquisition Priorities
The Armed Forces of the Philippines (AFP) is refocusing its procurement priorities under Horizon 3 of the AFP modernization program, a 15-year plan to modernize the ...
Philippines to Invest USD 52.8 Million in Sewage Treatment Plant Upgrades
Maynilad Water Services, Inc., the largest private water concessionaire in the Philippines in terms of customer base, has committed over PHP 3 Billion (USD 52.8 million) to ...
Filipino Renewable Energy Player Secures Power Supply Agreement with Shell Energy
PetroSolar Corporation (PSC), a subsidiary of Philippine renewable energy producer PetroGreen Energy Corporation (PGEC), has sealed a power supply agreement with Shell Energy ...
Filipinos Keen to Upskill in Artificial Intelligence but Face Hurdles
A 2023 study conducted by The Economist Impact reveals that possessing proficiency in Artificial Intelligence (AI) has become an essential digital competency for Filipino ...
USD 303 Million ADB Loan to Boost Flood Resilience in 3 Philippine River Basins
The Asian Development Bank (ADB) has approved a USD 303 million loan to reduce flood and climate risks and protect people and livelihoods in three major river basins in the ...
Philippines Is Losing PHP 110 billion (USD 1.9 billion) Yearly Due to Cancer
According to a recent study published by the Philippine Institute for Development Studies (PIDS), the Philippines is losing over PHP 110 billion (USD 1.9 billion) annually ...
Development Bank of the Philippines Extends Support to Modernize the Country’s Food Logistics Infrastructure
The Development Bank of the Philippines (DBP), the Philippines’ eighth-largest bank in terms of assets, is ready to extend its support to the government’s food logistics ...
South Korea’s Retail Giant Lotte to Expand Its Presence in Vietnamese Market
In September 2023, Lotte announced the official opening of Lotte Mall West Lake Hanoi, a mega shopping mall that serves customers desiring to experience Korean products ...
Apple Completes Transfer of 11 Manufacturing Units to Vietnam
According to Mr. Nguyen Thang Vuong, Head of the European and American Markets Division under the Ministry of Industry and Trade, Apple has relocated 11 factories for ...
Vietnam to Launch Its First Mega LNG Complex
Petrovietnam Gas Joint Stock Corporation (PV GAS) has completed a series of technical tests and is now prepared to begin commercial operation of the Thi Vai liquefied natural ...
Vietnam to Release Licenses for 5G Commercialization
Vietnam’s Ministry of Information and Communications (MIC) is planning for the auction frequencies of 5G in November 2023, and it is expected that the first series of ...
South Korea and Vietnam to Bolster Bilateral Relationship in Drugs and Medical Devices Sector
South Korea’s Ministry of Food and Drug Safety (MFDS) in September 2023 held a bilateral collaboration meeting with the Drug Administration of Vietnam (DAV) to support ...
South Korean Company to Build Biodegradable Material Factory in Vietnam
SK Group’s SKC Co., a chemical subsidiary of the South Korean conglomerate, is gearing up to construct a factory in Vietnam dedicated to producing materials for ...
The United States and Vietnam Advance Economic Ties
U.S. President Joe Biden, top executives from prominent U.S. tech companies such as Google, Intel, and Vietnamese business leaders had a meeting following the bilateral ...
ADB and GreenYellow Partner to Expand Commercial and Industrial Rooftop Solar in Vietnam
The Asian Development Bank (ADB) and GreenYellow Smart Solutions Vietnam Co., Ltd. (GreenYellow) have inked a loan agreement, totaling USD 13.8 million, to facilitate the ...
Vietnam Airlines Secures USD 7.8 Billion Boeing 737 Max Deal
A deal between Vietnam Airlines and American aircraft manufacturer Boeing, worth a remarkable USD 7.8 billion was officially confirmed during Biden’s visit to Hanoi in ...
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