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
Malaysia Approves 22 Renewable Energy Projects to Foster Energy Transition
The Malaysian Ministry of Energy Transition and Public Utilities, through the Sustainable Energy Development Authority (Seda), has granted approval for the implementation of ...
Vietnam Emerges as Hub for Luxury Brands
Distributors of luxury brands in Vietnam, including Louis Vuitton, Chanel, Dior, and Hermes, reported profits of VND 3.8 trillion (USD 156.57 million) in 2022, marking a ...
German Tire Manufacturer to Enhance Production in Vietnam
German tire brand Schwalbe recently announced the decision to centralize all tire and tube manufacturing operations in Vietnam in response to the tense conditions in the ...
South Korea to Open Logistics Center in Vietnam, Boosting SMEs
The South Korean government recently announced the establishment of a corporate entity in Vietnam, named K-UPA, with the aim of establishing a logistics center in the ...
Vietnam Joins the Asian Race for Generative AI
Vietnam has entered the race in Asia to develop generative artificial intelligence (AI) programs tailored to local languages and cultures, aiming to reduce reliance on ...
Israel and Vietnam to Collaborate in 3D Printing for Healthcare
In January 2024, the 3D Technology in Medicine Center (3D Lab) of VinUniversity, a private university in Vietnam, signed a Memorandum of Understanding (MoU) with CustoMED – ...
Vietnam Sets Mandatory Recycling Rates for Environmental Protection
Manufacturers and importers of tires, inner tubes, batteries, motor oil, and paper and board packaging are now obligated to recycle a portion of these products under new ...
Vietnam to Invest in Gas-to-Power Plants to Reach Its Target by 2030
Currently, Vietnam lacks operational gas-to-power plants, but the country has plans to have four such facilities with a combined capacity of 6,634 MW operational by 2030.
In ...
Renewable Energy and Semiconductos Set to Be Key Focus on Vietnam-US Cooperation
A senior US official announced in January 2024 that fifteen American companies, including semiconductor firms, are interested in investing USD 8 billion in Vietnam’s ...
Boeing Suppliers Plan Increased Investment in Vietnam
According to local authorities, KP Aero, a South Korean aviation industry supplier producing components for Boeing aircraft, plans to invest USD 20 million in establishing a ...
Nestlé to Invest USD 100 Million in Coffee Factory in Vietnam
In January 2024, Nestlé Vietnam announced a USD 100 million investment to increase production capacity at its Tri An coffee factory, located in the southern province of Dong ...
Vietnam’s VinGroup Keen to Establish an EV Battery Manufacturing Plant in the Philippines
VinGroup, Vietnam’s largest conglomerate with interests spanning technology, industrial sectors, real estate development, retail, healthcare, and hospitality, has shown keen ...
US Agricultural Exports to the Philippines Projected to Pass Record Rate
The report from the US Department of Agriculture’s Foreign Agricultural Services (FAS) on the Philippines highlights promising growth as a market for US agricultural exports. ...
Philippines Greenlights USD 35 Billion Military Modernization Plan
The Philippine government has given the green light to a revised military modernization plan, dubbed “Re-Horizon 3,” allocating a staggering two trillion ...
IKEA Expands Reach Across the Philippines, Prioritizing Accessibility and Sustainability
Swedish home furnishing giant IKEA has announced its expansion into major cities across the Philippines, further solidifying its footprint in the country’s burgeoning ...
Philippines and Brazil Enhance Collaboration Across Various Sectors
President Marcos expressed his commitment to strengthen the Philippines’ ties with Brazil in various sectors such as agriculture, trade, defense, and climate change. ...
DOH Plans 28 Ambulatory Care Facilities for Enhanced Healthcare Access in the Philippines
The Department of Health (DOH) aims to enhance healthcare accessibility for impoverished Filipinos by constructing 28 National Ambulatory and Urgent Care Facilities across ...
DENR and UNDP Underscore the Potential of Circular Economy to Expedite Climate Targets
The transformative impact of circular economy in meeting climate targets was highlighted during a forum organized by the Philippine Government and the United Nations ...
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