ID :
115609
Thu, 04/08/2010 - 15:43
Auther :
Shortlink :
http://m.oananews.org//node/115609
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Vietnam hosts Summit of Southeast Asian leaders
Washington (VNA) – Vietnam hosts Southeast Asian leaders this week as chair of
their 10-nation bloc, shining a spotlight on the political and economic stability
that prompted Intel Corp and Toyota Motor Corp. to increase investments, says
Bloomberg.
Bloomberg.com, one of the most-trafficked financial sites on the Web, quoted Nick
Jacobs, Intel’s regional spokesman, as saying that Santa Clara, California-based
Intel, the world’s biggest chipmaker, is scheduled to open a 1 billion USD
testing facility in Ho Chi Minh City this year that will employ about 4,000
people. Intel choose Vietnam because of its proximity to customers, reliable
power, water supply and skilled workers.
“Vietnam is a country which is very committed to education, and that gives us
confidence we will continue to attract the talent we need for long-term
success,” he said.
Toyota produced 28,000 vehicles in Vietnam last year, up from 18,000 in 2007,
spokesman Paul Nolasco said. The Toyota City, Japan-based company had 1,300
employees in Vietnam, more than double the number in 2005, he said.
Nolasco added, “Toyota recognises not only the potential growth of that market
but the potential role the Vietnamese economy can make in broader Southeast
Asia.”
According to Bloomberg, Vietnam drew 13.5 percent of the Association of Southeast
Aisan Nations (ASEAN)’s foreign direct investment pool in 2008, up from 4.4
percent two years earlier.
And its allure may be rising, judging from a December survey by the American
Chamber of Commerce in Shanghai of China. Vietnam is a preferred destination for
businesses looking to relocate from China, the report said.
“A lot of companies from a strategic standpoint are looking at how to set up a
production facility within ASEAN,” said James Lockett, a Hanoi-based lawyer with
Baker & McKenzie LLP and a board member of the American Chamber of Commerce in
Vietnam. “ In a lot of product areas, Vietnam looks very, very attractive for
people who are doing that.”
Bloomberg added, Vietnam’s economy expanded 5.2 percent last year, the most in
ASEAN, which has signed free-trade accords with China, Japan, the Republic of
Korea, Australia and New Zealand. The deals give companies access to those
countries and the ASEAN member states of Brunei, Cambodia, Indonesia, Laos,
Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. ASEAN is home
to about 600 million people and its populations are among Asia’s
youngest.-Enditem
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their 10-nation bloc, shining a spotlight on the political and economic stability
that prompted Intel Corp and Toyota Motor Corp. to increase investments, says
Bloomberg.
Bloomberg.com, one of the most-trafficked financial sites on the Web, quoted Nick
Jacobs, Intel’s regional spokesman, as saying that Santa Clara, California-based
Intel, the world’s biggest chipmaker, is scheduled to open a 1 billion USD
testing facility in Ho Chi Minh City this year that will employ about 4,000
people. Intel choose Vietnam because of its proximity to customers, reliable
power, water supply and skilled workers.
“Vietnam is a country which is very committed to education, and that gives us
confidence we will continue to attract the talent we need for long-term
success,” he said.
Toyota produced 28,000 vehicles in Vietnam last year, up from 18,000 in 2007,
spokesman Paul Nolasco said. The Toyota City, Japan-based company had 1,300
employees in Vietnam, more than double the number in 2005, he said.
Nolasco added, “Toyota recognises not only the potential growth of that market
but the potential role the Vietnamese economy can make in broader Southeast
Asia.”
According to Bloomberg, Vietnam drew 13.5 percent of the Association of Southeast
Aisan Nations (ASEAN)’s foreign direct investment pool in 2008, up from 4.4
percent two years earlier.
And its allure may be rising, judging from a December survey by the American
Chamber of Commerce in Shanghai of China. Vietnam is a preferred destination for
businesses looking to relocate from China, the report said.
“A lot of companies from a strategic standpoint are looking at how to set up a
production facility within ASEAN,” said James Lockett, a Hanoi-based lawyer with
Baker & McKenzie LLP and a board member of the American Chamber of Commerce in
Vietnam. “ In a lot of product areas, Vietnam looks very, very attractive for
people who are doing that.”
Bloomberg added, Vietnam’s economy expanded 5.2 percent last year, the most in
ASEAN, which has signed free-trade accords with China, Japan, the Republic of
Korea, Australia and New Zealand. The deals give companies access to those
countries and the ASEAN member states of Brunei, Cambodia, Indonesia, Laos,
Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. ASEAN is home
to about 600 million people and its populations are among Asia’s
youngest.-Enditem
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