South Korea's largest supermarket chain E-mart is selling its retail store business in Vietnam to THACO Group after hitting road bumps to expand in the market. Accordingly, the local business will be converted to a franchise model managed by THACO, which will pay royalty fees to E-mart.
Denmark’s Maersk has strengthened its contract logistics and distribution capabilities in Vietnam with three new facilities coming into operation in the southern province of Binh Duong and the northern province of Bac Ninh.
After a journey of eight years, the Regional Comprehensive Economic Partnership (RCEP) has finally been signed on November 15, 2020, covering 10 countries of ASEAN and another five countries with whom ASEAN has pre-existing free trade agreements: Australia, China, Japan, Korea and New Zealand.
Currently, a good 50 Vietnamese enterprises have become top suppliers for Samsung Vietnam. The South Korean conglomerate has given the necessary support to help these companies improve their manufacturing processes and better meet global supply chain standards – but becoming one of its regular suppliers is no mean feat.
In January, Intel Corporation announced a further $475 million in Intel Products Vietnam (IPV). This new investment comes in addition to Intel’s $1 billion investment to build a state-of-the-art chip assembly and test manufacturing facility in Saigon Hi-Tech Park (SHTP), that was first announced in 2006. This takes Intel’s total investment in its Vietnam facility to $1.5 billion.
Kim Dental, Vietnam’s largest private dental care platform, has recently raised $24 million in a series B round. The investment was led by ABC World Asia, a private equity fund dedicated to investing across Asia, seeded by Temasek. Proceeds from the round, which saw the participation from existing backer Aura Private Equity, will support Kim Dental in expanding the delivery of affordable and reliable oral health services across Vietnam.