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Prime Minister Pham Minh Chinh and Mr. Euisun Chung, Executive Chairman of Hyundai Motor Group – Photo: VGP/Nhat Bac
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Hyundai Motor Group (2000) consists of 29 companies, including Hyundai Motor Company, founded in 1967, mainly operating in the automotive field. The main overseas markets include: The US, Europe, Asia…, with 486 offices in 42 countries. The total number of employees is over 313,000, with a revenue of about 103.3 billion USD in 2022.
In Vietnam, with the Hyundai brand, Hyundai Motor Group has invested 415 million USD, employing a total of 2,300 workers and earning a revenue of 2.6 billion USD. Accordingly, Hyundai Motor is partnering with and transferring technology to the Thanh Cong Group (TC Group) to produce and assemble many commercial and tourist car models in the Gian Khau Industrial Park, Ninh Binh, creating more than 3,500 jobs, distributing throughout Vietnam and exporting to the markets of Philippines, Peru and Thailand. With the KIA brand, the company has cooperated and transferred technology to THACO of Vietnam to produce and assemble many car models bearing the KIA brand and components and spare parts at the factory in Quang Nam province, which is 100% owned by THACO, to supply for domestic demand and export.
At the reception, the Group’s leader expressed his wish to promote business activities and is ready to transfer new technologies and invest in new techniques in Vietnam, especially in the context of the global and Vietnamese electric vehicle market is growing. Hyundai highly appreciates Vietnam’s strength in high-quality young human resources and plans to have training programs to nurture Vietnamese talents in the automotive industry.
The Prime Minister appreciated the investment and business activities of Hyundai Motor Group in Vietnam, welcomed and encouraged the Group to expand its investment in the field of green transportation, increase technology transfer, raise the localization rate, support Vietnamese enterprises to participate in the supply chain, train human resources, and continue sustainable development in Vietnam. The Prime Minister also suggested that the Group pay attention to participating in social security activities.
Notably, the Prime Minister also suggested Hyundai participate in sponsoring and investing in football in Vietnam, and the Group’s leader said that he would seriously and actively consider this content.
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Prime Minister Pham Minh Chinh and Mr. Yeonin Jung, Vice Chairman and CEO of Doosan Enerbility – Photo: VGP/Nhat Bac
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Doosan will increase localization rate in Vietnam
Following that, the Prime Minister received Mr. Yeonin Jung, Vice Chairman and CEO of Doosan Enerbility.
This is a heavy industry corporation with a total of 13,500 employees and a revenue of over 12.7 billion USD in 2023. Especially, Doosan Vina, established in 2006 with an investment of 300 million USD, has produced mechanical and heavy industry products for 398 projects in 35 countries and territories worldwide, with a total order value of more than 3 billion USD.
In 2020, Doosan Vina successfully produced and exported products using CFB bubbling fluidized bed boiler technology for the Sodegaura biomass power plant in Chiba, Japan. Currently, Doosan Vina is focusing on producing clean energy and renewable energy equipment. Doosan Vina also supplies desalination equipment to many countries, capable of providing 776 million liters of clean water and meeting the daily needs of nearly 2.5 million people.
At the reception, the Group’s leader introduced the experience, capacity and achievements of Doosan Enerbility; exchanged plans to expand investment, transfer experience, management skills, and technology to Vietnamese enterprises in designing, procuring, and installing power plants, increase localization of electrical equipment at Doosan Vina in Quang Ngai, participate in offshore wind power development, and apply carbon removal technology to power plants to contribute to the net zero emission target. They also wished to sign an MOU with Vietnamese enterprises in the field of clean energy and emission reduction.
The Prime Minister appreciated the practical and effective contributions of Doosan Enerbility in Vietnam in the past time in producing industrial and energy equipment…; and supported and welcomed the Group’s new solutions and technologies for green and clean energy, and supported Vietnam in achieving sustainable development goals, researching and developing green energy sources, reducing carbon emissions, including offshore wind power development, as well as cooperating in transferring management skills, techniques and technologies to Vietnamese enterprises…, on the principle of harmonious interests and shared risks.
Regarding the existing difficulties, the Prime Minister suggested that the Group continue to coordinate and exchange with Vietnamese agencies and partners to handle them, and if they exceed their competence, they should report to the competent authority for consideration and decision.
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Prime Minister Pham Minh Chinh received Mr. Kim Ki Moon, Chairman of KBIZ – Photo: VGP/Nhat Bac
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Promoting cooperation between small and medium-sized enterprises of the two countries
Also in the afternoon, the Prime Minister received Mr. Kim Ki Moon, Chairman of the Korea Federation of Small and Medium-sized Businesses (KBIZ) and Mr. Kim Sung-tae, Chairman and CEO of the Industrial Bank of Korea (IBK).
KBIZ was established in 1962 and is one of the four largest business associations in Korea with more than 3.5 million members. So far, KBIZ only has representative offices in Vietnam and the US. Meanwhile, IBK was established and controlled by the Korean government, specializing in providing financial services for small and medium-sized enterprises in Korea, and has established a branch in Vietnam.
At the meeting, the Chairman of KBIZ discussed plans to strengthen cooperation between small and medium-sized enterprises of the two countries; the role of KBIZ and IBK in transferring methods and experiences to small and medium-sized enterprises; and contributing to the economic growth of the two countries based on small and medium-sized enterprises. The Chairman of KBIZ also reported on the plan to organize an investment promotion forum in Vietnam at the end of this year with the participation of hundreds of small and medium-sized enterprises.
The Prime Minister thanked and suggested KBIZ to continue promoting investment and business cooperation, strengthening the promotion of Vietnam’s investment and business environment and policies to Korean enterprises, working with the Vietnam Association of Small and Medium Enterprises to connect and support small and medium-sized enterprises of the two countries, and coordinating with the Ministry of Planning and Investment to organize the investment forum at a suitable time. The Prime Minister also welcomed IBK to continue providing credit support for small and medium-sized enterprises in Vietnam.
The most extensive bribery case ever in Thanh Hoa: Numerous suspects prosecuted for “Giving and Receiving Bribes”
The Provincial Security Investigation Agency (PSIA) of Thanh Hoa province announced on January 31st that it has made the decision to initiate a prosecution against 23 individuals in connection with the offenses of “Accepting bribes” and “Giving bribes” as stipulated in Article 354(3) and Article 364(2) of the Criminal Code.
Accelerating disbursement of the 120 trillion VND credit package for social housing
Deputy Prime Minister Trần Hồng Hà has recently issued directives regarding the implementation of the 120,000 billion VND credit package for investors and buyers of social housing, workers’ housing, and projects for the renovation and construction of apartment buildings.
“Prosecution of government officials, land registration officers, and tax department employees in the largest bribery case ever”
The Thanh Hoa Police Investigative Agency has initiated legal proceedings against 23 individuals involved in the crimes of “Bribery” and “Receiving bribes”. This is the largest bribery case in terms of the number of suspects ever discovered and apprehended by the Thanh Hoa Police.
Mobile World achieves revenue of VND118,000 trillion: TVs, tablets, and phones all decrease by 10% – 50%, while one product grows in both quantity and revenue.
Mobile World Investment Corporation (MWG) has recently announced its 2023 business results. According to the report, the company’s consolidated revenue reached over 118 trillion Vietnamese dong, equivalent to 89% of the revenue in 2022.
Vietnam’s Irresistible ‘Specialty’ That China Desperately Wants to Revive: Highly Popular from the US to Asia, Bringing in Millions of Dollars
Vietnam is one of the largest exporting countries in the world, along with China and the Philippines.
