HANOI: Vietnam's automaker VinFast, a unit of the country's biggest conglomerate Vingroup VIC.HM, said it has set up its first US manufacturing plant with investment of around US$2 billion in the first phase of construction, as it looks to establish itself in the US market.
The complex, VinFast's first factory in the United States, is located in North Carolina, on a 800-hectare plot, with a capacity of 150,000 units per annum initially, the company said in a statement on Tuesday. VinFast is betting big on the US market, where it hopes its electric SUVs and a battery leasing model will be enough to tempt consumers away from the likes of Tesla TSLA.O and General Motors GM.N.
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Vietnam FDI Q1 inflows up 7.8per cent y/y at $4.42 billion - investment ministryHANOI : Vietnam received $4.42 billion in foreign direct investment (FDI) in the first quarter, up 7.8per cent from a year earlier, the Ministry of Planning and Investment said on Monday.FDI has been a key driver of Vietnam's economic growth. Companies with FDI account for around 70per cent of the Southea
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Now Taliban preserve Buddhas, with eye to China investmentThe ancient Buddha statues sit in serene meditation in the caves carved into the russet cliffs of rural Afghanistan. Afghanistan’s Taliban rulers are pinning their hopes on Beijing to turn that rich vein into revenue to salvage the cash-starved country amid crippling international sanctions. Two decades ago when the Islamic hard-line Taliban were first in power, they sparked world outrage by blowing up gigantic buddha statues in another part of the country, calling them remnants of paganism that must be purged.
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