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LG Electronics is looking to sell its smartphone plants. Source: Glassdoor After announcing to withdraw from the smartphone business, LG Electronics is closing down production plants in Haiphong (Vietnam), Taubate (Brazil), and Qingdao (China) after failing to effect a breakthrough, according to Business Korea . Of these, the Haiphong plant, which is the largest among LG Electronics' smartphone plants with an annual capacity of about 10 million smartphones, equaling about half of LG's total smartphone output, has been announced to find a buyer at the selling price of KRW100 billion ($90 million). Realising the difficulties of finding a local buyer, which is going to manufacture almost 10 million smartphones per year, LG Electronics is considering selling the plant site only, without the production lines. The Taubate and Qingdao plants are facing the same difficulties. They have a total capacity of about 8-9 million smartphones a year. After a rumour about the sale of the … [Read more...] about LG Electronics looking for buyer for smartphone plants

Masan High-Tech Materials’ management board answer questions from shareholders and investors at the company’s annual general meeting held in Ha Noi on April 12. — Photo courtesy of the company Masan High-Tech Materials (HNX-UpCOM: MSR, MHT) has set a target of net revenue growth of over 50 per cent in 2021, attributing to the H.C. Starck Tungsten Powders integration for the whole year, higher sales revenue and selling prices on the market. The better price and bigger revenue will enable Masan High-Tech Materials to achieve earnings before interest, taxes, depreciation, and amortisation (EBITDA) growth more than 100 per cent over last year, and strongly backed by the strict cost control in lean production activities. Attributable net profit after tax is expected to be at appropriately VND200 - 400 billion (US$8.66 -17.3 million). Speaking at its annual general meeting with the theme of “Go Global” held in Ha Noi on April 12, Craig Richard Bradshaw, general director of Masan … [Read more...] about MHT continues ‘Going Global’, reinforcing the vision to become a leading integrated supplier of advanced high-tech materials

Seafarers wear protective clothing. — Photo vinalines.com.vn HÀ NỘI — The Ministry of Transport (MoT) has asked the Government to add seafarers and maritime workers to the list of frontline workers to receive COVID-19 vaccinations. This agency also requested the Government to direct the Ministry of Foreign Affairs to help Vietnamese crew members who stuck abroad return home on repatriation flights. Vietnamese seafarers who are quarantined in concentrated isolation areas should be prioritised at an affordable cost, the MoT said in the written request to governments and People's Committees of provinces and cities. At the end of March, leaders of the International Civil Aviation Organisation (ICAO), the International Maritime Organisation (IMO), the International Labour Organisation (ILO), the World Health Organisation (WHO) issued a joint statement calling on United Nations member states to put seafarers and crew members at the head of the vaccine queue to facilitate … [Read more...] about Seafarers should be put on priority list for COVID-19 vaccine

During a meeting held between municipal authorities and the National Steering Committee for COVID-19 Prevention and Control on April 12, Phong said that on April 10 alone Cambodia recorded a further 477 positive COVID-19 cases, with the figure rising to 800 in Thailand. He therefore urged local authorities to take steps to reinforce measures aimed at combating the COVID-19 pandemic, although there has been no new cases detected within the community over the past two months. This comes after the border area in Long An province has witnessed many young Chinese nationals illegally enter the country with the aim of moving on to Cambodia in order to find employment. Furthermore, the number of overseas Vietnamese who have tried to return home from Cambodia has been rising due to concerns about the development of the COVID-19 pandemic in the neighbouring country. The mayor has therefore called on every ward and commune to closely monitor the number of immigrants, with local policemen … [Read more...] about HCM City urged to put COVID-19 response measures in place

Despite being constantly on the move and staying in makeshift accommodations, construction workers in Ho Chi Minh City still move forward and are ready for whatever comes next. Makeshift shanties erected at a construction site, secluded at a swamp next to the Saigon River, along Ven Ho Trung Tam Street in Thu Duc City, are where Nguyen Van Kiet, a 29-year-old construction worker, and more than a dozen co-workers have called home for the past several weeks. The site is filled with noise and dust, and piles of construction materials are strewn across the area. With walls temporarily built from corrugated iron and floors from planks of wood, the shanties, which double as the workers’ living and sleeping space, will be removed as construction nears completion. These makeshift accommodations lack the basics like a kitchen and toilet. Construction is ongoing at a building site in Ho Chi Minh City. Photo : Cong Trieu / Tuoi Tre On the day a Tuoi Tre (Youth) … [Read more...] about In Ho Chi Minh City, construction workers find joy in ‘nomadic’ life