Taiwanese company to pour 250 million USD to expand project in Binh Duong

Polytex Far Eastern (Vietnam) Co. Ltd, a Taiwan-invested company in the southern province of Binh Duong, will increase its investment by 250 million USD in the third quarter of this year to expand its production line of super-strong fiber products used to make seat belts, airbags, and tire inner liners.
Taiwanese company to pour 250 million USD to expand project in Binh Duong ảnh 1Far Eastern Polytex (Vietnam) Co. Ltd in the southern province of Binh Duong. (Photo: vietnamfinance.vn)

Binh Duong (VNA) – Far Eastern Polytex (Vietnam)Co. Ltd, a Taiwan-invested company in the southern province of Binh Duong, willincrease its investment by 250 million USD in the third quarter of this year toexpand its production line of super-strongfiber products used to make seat belts, airbags, and tire inner liners.

The company's general director Yeh Ming Yuh unveiled the information in a meeting with Chairman of theprovincial People’s Committee Vo Van Minh on June 21.

The company started its operations in the province’s Bau BangIndustrial Park in 2015 with an initial investment of over 600 million USD. Itscapital investment now reaches 1.37 billion USD with production lines ofindustrial fiber products which are used in the production of seat belts,airbags, tire linings, and finished textile and garment products.

He said that the added investment will be used for theinstallation of a solar power system to provide electricity for production. Thecompany is committed to investing in Binh Duong towards green transformation,sustainable development, training high-quality human resources, and joininghands with the province in enhancing social responsibility to protect theenvironment and workers.

Chairman of the provincial People's Committee Vo Van Minh said that the company is now the largestforeign-invested firm in the province.

Minh said that the province commits to accompanyinginvestors to remove difficulties if any. In addition, the province always paysattention to simplifying administrative procedures, improving the local investmentenvironment, supporting the company to deploy projects quickly and smoothly,and promoting more efficient production in the coming time.

According to the province’s Department of Planning andInvestment, as of June 22, licenced foreign investment in Binh Duong reached943 million USD, equal to 37% of the figure of the same period.

Compared to 2022, the amount of foreign investment capitalis not as high, but the number of new projects has increased sharply.Specifically, since the beginning of the year, 33 new FDI projects havebeen licenced, up 11projects as compared to the same period last year.

Up to now, the province has had 4,113 foreign-invested projectswith total registered capital of 40 billion USD./.

VNA

See more

Consumers shop at the WinMart Vo Thi Sau supermarket in Hanoi's Hai Ba Trung district. (Photo: VNA)

Hanoi keeps CPI well under control

The CPI for the first quarter of 2025 increased by 2.75% compared to the same period last year, indicating that inflation remains well under control.

Vietnam’s KRX trading system is set to go live on May 5. (Photo: VietnamPlus)

Vietnam to launch KRX trading system on May 5

The KRX system is currently in its final testing phase before full implementation. During this period, securities firms are conducting simulated trading sessions as if on a normal trading day.

Vietnam has proactively reviewed and adjust tariffs, particularly on US imports, as part of efforts towards balanced trade relations. (Illustrative photo - Source: VNA)

Vietnam reviews, adjusts import tariffs to promote trade balance

The Ministry of Finance is now working closely with other agencies to evaluate policy options that support businesses. Possible solutions include market diversification, supply chain optimisation, and leveraging opportunities from Vietnam’s existing free trade agreements.

Illustrative photo (Photo: VNA)

Retail petrol prices up in latest adjustment

Under the new pricing structure, E5 RON92 and RON95-III have increased by 341 VND and 495 VND per litre to a maximum of 20,373 VND (0.79 USD) and 20,919 VND per litre, respectively.

The Lumitel brand is being promoted on walls across Burundi. (Photo: Viettel)

Lumitel – A bright spot in Vietnam-Burundi collaboration

After a decade of operations, Lumitel has become the leading telecommunications provider in Burundi and one of the largest contributors to the Burundian government's budget, providing stable employment for over 60,000 workers and indirectly creating around 100,000 jobs.

Belarusian Deputy Prime Minister Anatoly Sivak speaks at the forum. (Photo: VNA)

Ample room remains for Vietnam - Belarus trade cooperation

To further develop the Vietnam-Belarus economic and trade relationship, it is essential to enhance trade promotion and investment initiatives such as trade fairs, forums, thematic workshops, and trade connections, which serve as an important bridge for businesses from both sides to meet, connect, and seek cooperation opportunities.

The 5th Exhibition of Ho Chi Minh City and Friendship Provinces and Cities in Savannakhet takes place from April 2 to 6. (Photo: VNA)

Vietnam, Laos boost trade at Savannakhet expo

Vice Governor of Savannakhet Saensak Soulisak highlighted the exhibition’s role in expanding trade collaboration, enabling businesses to connect, share experience, and explore investment prospects. He also noted its significance in promoting local products to a wider market.

Visitors at the exhibition (Photo: VNA)

Vietnam Expo 2025 opens, spotlighting digital transformation, innovation

This year’s edition, themed “Step together in a digitised world,” has attracted around 400 businesses from 18 countries and territories, with over 500 booths. Alongside traditional networking, it introduces online business-to-business (B2B) matching, enabling year-round connections.

Prime Minister Pham Minh Chinh speaks at the second meeting of the National Steering Committee for building the private economic sector development project (Photo: VNA)

Private sector encouraged to join major national programmes, projects

It must fully unleash the productive capacity and resources of the country through the private sector; mobilise all private resources for national development; harness the effectiveness of internal forces, including human, natural resources, history, and culture, while effectively combining them with external resources such as capital, technology, human resources, and management experience, he said.

At the annual Vietnam-Cambodia business dialogue in Phnom Penh on April 4 (Photo: VNA)

Annual Vietnam-Cambodia business dialogue held in Cambodia

The annual business dialogue in Cambodia attracted around 150 delegates, including Vietnamese businesses and Vietnamese-origin companies operating in Cambodia across various sectors such as finance, banking, insurance, telecommunications, agriculture, construction, interior design, food services, transportation, logistics, trade, healthcare, and tourism.