In early December, the PC1 Group (HOSE: PC1) announced its investment of 99.98% in establishing a subsidiary in the Philippines to develop a wind power plant. Prior to this, on October 9, in Manila, the Group signed an EPC general contract for the 58.5MW Camarines Sur wind power plant with its partner, SPV Cornerstone Energy Development, Inc. (CEDI) – a joint venture between Aboitiz Power Corporation (a Philippine energy investment enterprise) and Mainstream Renewable Power (a global wind farm investor).
PC1 invests nearly $48 million in a subsidiary in the Philippines
PC1 stated that successfully signing the general contract in the Philippines with leading energy investment corporations in the region and the world through multiple rigorous evaluations demonstrates that Vietnamese enterprises are now fully capable and confident in joining the global competitive value chain.
In fact, when an enterprise becomes strong enough, its dreams soar. The year 2024 witnessed a series of enterprises aiming to expand globally, especially in the last few months, with plans to inject millions of dollars into foreign markets.
According to the resolution on November 19,
The expansion into Southeast Asia was approved by GDA shareholders at the 2024 annual general meeting, with an investment plan spanning 4-6 years.
The capital contribution to the Indonesian company is not a significant issue for the 26-year-old steel enterprise, considering its over 3,500 billion VND in highly liquid assets, including bank deposits, bond investments, etc. (as of Q3/2024). The enterprise has planned to invest in building factories to produce post-steel products domestically, estimating a requirement of 10,000 billion VND for 4 phases over 6-8 years. GDA intends to establish an LLC and contribute no less than 70% of the capital.
PVD’s 700,000 USD joint venture in Indonesia
On November 18, the Board of Directors of PV Drilling (HOSE: PVD) approved a resolution to contribute capital to establish a joint venture in Indonesia named PetroVietnam Drilling Indonesia (PT PVD Indo), with a charter capital of 700,000 USD, to provide drilling and well technical services to oil and gas companies in Indonesia.
Of the 700,000 USD capital, PVD and PT Quest Semesta Raya each contribute 40%, while Mr. Yosep Arianto contributes the remaining 20%. The company is registered in Indonesia and will operate for 10 years from its establishment, with the possibility of extension upon agreement by the parties.
In fact, this is not the first time the PVN drilling company has been present in Indonesia. The enterprise has been operating in the archipelago country since December 2022, with an executive office established in Jakarta in July 2023. Its largest client in this country is Pertamina Hulu Energi Offshore Northwest Java (PHE ONWJ).
IDP’s project to expand its dairy market share in the Philippines
Also, on November 18, International Dairy Products Joint Stock Company (UPCoM: IDP) – the owner of the Kun milk brand – made a move to “set sail” by approving the establishment of an economic organization in the Philippines.
Accordingly, IDP will establish an economic organization in the Philippines as part of the Lof International Dairy Products Inc. Philippines Dairy and Beverage Business Project. The main objective is to trade in beverages, milk, and dairy products. The investment amounts to nearly $1.5 million (approximately 38 billion VND), entirely from owner’s equity.
 IDP is the owner of the Kun milk brand
|
Notably, IDP had previously approved a resolution related to borrowing 2,100 billion VND from BIDV, Vietcombank, and Vietinbank. The purpose of this loan is to supplement working capital, issue LCs, and provide guarantees for the production and business activities of dairy and dairy-derived products in the 2024-2025 period.
This is the second time IDP has ventured overseas in 2024. Earlier, the enterprise owned a subsidiary in West Jakarta, Indonesia, namely PT Produk SuSu Internasional, established on April 22, 2024.
G
In early November, Casadora Furniture Joint Stock Company (a 60%-owned subsidiary of CTCP Tap Doan Ky Nghe Go Truong Thanh (HOSE: TTF)) received an investment certificate for Dubai through an established economic organization named Belmonte Design Services L.L.C.
TTF plans to invest $500,000 (over 12 billion VND) in Belmonte by purchasing shares to participate in its management, entirely from owner’s equity. The enterprise stated that the investment aims to provide design services for world-renowned furniture brands and expand the presence of furniture products in Vietnam under the names of major global brands in the Middle East.
This is also not the first time TTF has ventured overseas. According to the Q3/2024 financial statements, the enterprise holds a 20% stake in Natuzzi Singapore PTE., Ltd. – a furniture manufacturer in Singapore.
FPT inaugurates AI Factory in Japan
On November 13, FPT Corporation (HOSE: FPT) launched an AI Factory in Japan, built on NVIDIA’s accelerated computing platform and software.
Six months earlier, in April 2024, FPT announced a strategic collaboration with NVIDIA to boost AI research and provide services and solutions to customers in Vietnam and worldwide.
Mr. Truong Gia Binh – Chairman of the Board of Directors of FPT Corporation
|
In reality, FPT‘s case is hardly considered “venturing abroad” as the enterprise has already made numerous foreign investments. In fact, FPT has had a legal entity in Japan since 2005 and is also present in other markets such as Slovakia, Myanmar, the US, and Europe. The company’s overseas revenue in the first ten months of 2024 even reached the $1 billion mark.
Viettel Post and its $5 million subsidiary in Laos
Total Postal Service Joint Stock Corporation (Viettel Post, HOSE: VTP) has previously “set sail” with two member companies in Myanmar and Cambodia. However, this was before 2017. In 2024, VTP planned to expand its scope of activities in the international market, and the most recent move was the establishment of Viettel Post Laos Co., Ltd. in Laos in September.
This subsidiary operates in the fields of delivery, warehousing, and domestic and international freight transport, as well as trade in goods and services, e-commerce, import and export, and freight forwarding services in Laos. The investment value is approximately 136 billion VND, equivalent to $5.34 million.
The expansion of investment was shared by VTP‘s leadership at the beginning of 2024, with plans to expand into the Lao market and open additional representative offices in Thailand. In March 2024, Viettel Post signed a cooperation agreement with the authorities of Pingxiang City and Nanning City (Guangxi Province, China) to establish a representative office and build a China-ASEAN agricultural product trading center.
VTP aims to connect agricultural products, seafood, etc., of Vietnam and other ASEAN countries (Laos, Myanmar, Cambodia) through the railway, road, and waterway network for distribution to China.
The Return of Nvidia’s CEO Jensen Huang to Vietnam: FPT Sets a New Record
Since the beginning of 2024, FPT stock has reached new heights 38 times, surging by 80%. This remarkable performance has propelled its market capitalization to a record high of over VND 218,000 billion.
“Vietnam Airlines: Celebrating 30 Years of Connecting Vietnam and Japan”
Vietnam Airlines celebrated 30 years of direct flights between Vietnam and Japan during the official visit of the Chairman of the National Assembly of the Socialist Republic of Vietnam, Mr. Tran Thanh Man, and his delegation. The airline marked this milestone by signing agreements with various Japanese prefectures and leading travel partners in the country.
The Alluring Apple Offer: $100 Million Rejected by an ASEAN Nation, Deemed “Unfair” as Vietnam Secures $15 Billion
Indonesia last week rejected Apple’s $100 million investment proposal, stating that the offer did not meet the principles of “fairness.”
“Vietnam: The Rising E-Commerce Dragon of Southeast Asia”
The Vietnamese e-commerce market is projected to experience a compound annual growth rate (CAGR) of 28% from 2025 to 2033, underpinned by rising internet and mobile penetration, and the increasing adoption of digital payments. The government’s digitalization agenda is also a key driver of this impressive growth trajectory, setting the stage for a vibrant and dynamic online retail landscape in Vietnam.
The Tech Giant’s Indonesian Concession: $1 Billion in One Week to Sell iPhones
For the second time, Apple has had to up the ante and increase its investment in this country.
