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The boost to formal ties could bring billions of dollars of new private investment and some public funds to Vietnam's semiconductor industry. But industry officials, analysts and investors said that the small pool of trained experts will be a crucial hurdle for the rapid development of the chip industry. There's also a risk of inadequate supply of trained chips software engineers, said Hung Nguyen, senior program manager on supply chains at RMIT University Vietnam. The White House has not specified which segments of the chips industry in Vietnam will be prioritised, but U.S. industry executives have indicated that the back-end is a key growth sector. More private investment could come, especially if a significant share of the $500 million available under the U.S. CHIPS Act for global semiconductor supply chains ends up in Vietnam.

Persons: Joe Biden, Kevin Lamarque, Biden, Thanh, There's, Hung Nguyen, CHINA'S, Amkor, Janet Yellen, Hung, Francesco Guarascio, Steve Holland, Trevor Hunnicutt, Khanh Vu, Phuong, Muralikumar Organizations: U.S . Army, White, REUTERS, Companies, ASEAN Business Council, RMIT University Vietnam, Boston Consulting Group, Reuters, Intel, U.S . Treasury, Marvell, Thomson Locations: Vietnam, Washington , U.S, Hanoi, Washington, Vietnam Vietnam, HANOI, U.S, China, United States, Taiwan, Beijing, The U.S, Malaysia, India, Europe, Phuong Nguyen

Indonesia imported 53,864 metric tons of nickel ore in the first half of 2023, up from 22,503 tons for all of 2022, Indonesian trade data showed. But imports from the Philippines only started in May, and all arrived at Morowali port in a huge nickel processing park run partly by Chinese nickel giant Tsingshan Group, the Indonesian data showed. "But the ore is cheaper by comparison with domestic ore currently and so this will offset some of the rising costs," Mitchell said. The Philippines mined 360,000 tons of nickel in ore in 2022, or 11% of global supplies, according to INSG. Philippines 1.3% grade ore landed at China's Lianyun port surged 20.6% in the past month to $41 a ton, the highest since March, Mysteel data showed.

Persons: Antara, Aneka, Tsingshan, Wood Mackenzie, Andrew Mitchell, Mitchell, Mai Nguyen, Siyi Liu, Fransiska, Enrico dela Cruz, Dominique Patton, Kim Coghill Organizations: PT Vale Indonesia, REUTERS Acquire, Nickel, Tsingshan Group, Study, Imports, Thomson Locations: Sorowako, South Sulawesi, Indonesia, Philippines, Jakarta, Morowali, China, China's, Hanoi, Beijing, Manila

☆ Four killed in Vietnam coal mine collapse
▼ + stars: | 2023-08-27 | by ( ) www.reuters.com time to read: 1 min

HANOI, Aug 27 (Reuters) - Four people have been killed in a collapse in a coal mine in Vietnam's mining centre of Quang Ninh, the state-run Thanh Nien newspaper reported on Sunday. The accident happened late on Saturday at a mine operated by Vang Danh Coal Company, a unit of Vietnam's state coal miner Vinacomin, Thanh Nien reported. The newspaper did not give a reason for the collapse. In March a similar accident happened at a Vang Danh-operated mine but no one was killed. Vinacomin said last year that mine accidents killed at least 17 miners in the first nine months of 2022.

Persons: Thanh Nien, Vinacomin, Phuong Nguyen, Robert Birsel Organizations: Thanh Nien, Vang Danh Coal Company, Thomson Locations: HANOI, Quang Ninh, Vang

☆ Vietnam joins Southeast Asian effort on cross-border payments
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +1 min

People go past the State Bank building, near the offices of Vietcombank and the Bank for Investment and Development of Vietnam, in central Hanoi, Vietnam November 23, 2017. REUTERS/Kham Acquire Licensing RightsJAKARTA, Aug 25 (Reuters) - Vietnam's central bank signed an agreement on Friday to be part of an initiative by five other Southeast Asian countries to establish a cross-border payments mechanisms between them. Vietnam will join Indonesia, Malaysia, Thailand, the Philippines and Singapore in working to connect each of their payment systems, including using the QR (quick response) code system for retail transactions. The agreement was made at a meeting of the 10-member Association of Southeast Asian Nations (ASEAN) finance ministers and central bank governors in Jakarta. Furthermore, Indonesia, Malaysia and Thailand have agreed to later facilitate cross-border transactions for financial assets like equities and government bonds in local currencies.

Persons: Perry Warjiyo, Stefanno Sulaiman, Martin Petty Organizations: Bank, Bank for Investment, Development, REUTERS, Rights, QR, Association of Southeast Asian Nations, ASEAN, Bank Indonesia, Thomson Locations: Vietcombank, Vietnam, Hanoi, Rights JAKARTA, Indonesia, Malaysia, Thailand, Philippines, Singapore, Jakarta

☆ VinFast stock soars again on Nasdaq as buzz over Vietnamese EV maker grows
▼ + stars: | 2023-08-23 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Shares of VinFast, the Vietnamese electric vehicle maker that went public in a red-hot Wall Street debut last week, enjoyed another stunning rally again Tuesday. The strong market performance could make it easier for VinFast to raise more money from investors, a move CEO Thuy Le told CNN the company was considering. A similar story played out last week, when VinFast began trading on the Nasdaq. Public trading of VinFast (VFS) is based on razor-thin volumes — just 1% of the shares, which means price moves can be extremely volatile. On Tuesday, VinFast was one of the top trending companies and “most watched” stocks on Stocktwits, a social network for investors.

Persons: Thuy Le, VinFast, Pham Nhat Vuong, CNN’s Julia Chatterley, Le, “, ”, ” Le, Nhac Nguyen, Pham, CNN’s Livvy Doherty Organizations: Hong Kong CNN —, CNN, Nasdaq, Volkswagen, Ford, Getty, Volkswagen Group Locations: Hong Kong, New York, lockup, Hanoi, AFP, North Carolina, Asia, United States

REUTERS/Athit Perawongmetha/File Photo Acquire Licensing RightsHANOI/SINGAPORE, Aug 22 (Reuters) - Thailand's second-biggest lender Kasikornbank (KBANK.BK) is in talks to buy consumer finance provider Home Credit Vietnam in a deal of up to $1 billion that would further its push to expand in Vietnam, two sources said. The Bangkok-based lender, also called KBank, hopes to become one of Vietnam's top 20 banks in terms of assets by 2027. It has total assets worth $119.7 billion, second only to Bangkok Bank (BBL.BK) in Thailand, Refinitiv data showed. KBank and Home Credit Group did not respond to Reuters' requests for comments. Home Credit Group is controlled by the Czech Republic's biggest investment group, PPF, which was founded by late billionaire Petr Kellner.

Persons: Athit, KBank, Petr Kellner, Phuong Nguyen, Kane Wu Organizations: Kasikorn, REUTERS, Rights, Home Credit Vietnam, Bangkok Bank, Stock Commercial Bank, Sumitomo Mitsui, Home, Home Credit, Home Credit Group, Thomson Locations: Bangkok, Thailand, Rights HANOI, SINGAPORE, Vietnam, Vietnam Prosperity, Asia, Netherlands, Czech, Hanoi, Singapore

China is dominant in magnets and the rare earth metals they are made from. Magnet makers are also drawn to Vietnam by low labour costs and market access afforded by multiple free-trade deals. It said it sources most of its rare earths from China but is seeking alternative sources in Vietnam and Australia and plans to develop a processing facility in Vietnam. A similar request from clients prompted another Chinese magnet maker, Magsound, to decide to open a factory in Vietnam in the first half of next year, the two people said. In April, Australia's Strategic Materials (ASM.AX) signed a deal with a Vietnamese refiner that committed to supplying rare earths for export to South Korea.

Persons: David Merriman, China's Luxshare, Taiwan's Foxconn, Magsound, Japan's Shin, Obayashi, Francesco Guarascio, Khanh Vu, Mai Nguyen, Christopher Cushing Organizations: Apple, Sino, Korea's Star, Industrial, SGI, U.S . Department of Energy, South, Reuters, VinFast, Hyundai, China's, Luxshare, Thomson Locations: China, HANOI, SEOUL, Vietnam, U.S, South Korea, Washington, Beijing, Australia, Hanoi

It's just too early to tell," said George Glassman, president of Glassman Automotive Group, which sells five automotive brands outside Detroit. Since then, VinFast shares have retreated, and were down 17.2% at $24.92 at midday on Thursday. The new hybrid sales plan is just another challenge and the luxury carmaker is already talking to dealers. U.S. dealers said there are too many unanswered questions, including how VinFast will distribute parts needed to make repairs. Several dealers said VinFast may need to offer sweetened profit margins to dealers to account for the added risk.

Persons: It's, George Glassman, VinFast, Le, Thuy, Scott Fink, I'm, Tesla, Andrew DiFeo, Augustine, Warren Browne, Rhett Ricart, Dealers, it's, Ricart, Beau Boeckmann, Boeckmann, Ben Klayman, Phuong Nguyen, Matthew Lewis Organizations: Nasdaq, U.S, Reuters, Glassman Automotive, Ford, General Motors, U.S ., Fink Automotive Group, VW, Subaru, GM, Hyundai, Ricart Automotive, Toyota, Honda, Galpin Motors, Thomson Locations: U.S, North America, Detroit, VinFast, Tampa , Florida, St, Jacksonville , Florida, Columbus , Ohio, Los Angeles, VinFast's, Vietnam, Hanoi

Shares of dedicated EV maker VinFast, which merged with special purpose acquisition company (SPAC) Black Spade, surged on their Nasdaq debut on Tuesday. Other EV SPAC deals, including Lucid (LCID.O), which Black Spade used as the basis of its initial $23 billion valuation of VinFast, have seen their shares tumble after listing. Lucid is valued now at under $15 billion, nearly 40% less than its $24 billion SPAC valuation in 2021. Through the first seven months, it has sold over 16,000, including its sales in Vietnam. The Tesla Model Y is almost $7,000 cheaper than VinFast's VF8 after including federal subsidies.

Persons: Stephane Mahe, Black Spade, Pham Nhat Vuong, David Mansfield, Le, Thuy, VinFast, Vuong, Mansfield, AlixPartners, Tesla, Kevin Krolicki Organizations: REUTERS, Rights, Nasdaq, Ford, General Motors, Tesla, VinFast, VinFast's, EV, U.S ., Thomson Locations: Paris, France, Rights HANOI, U.S . West Coast, Vietnam, United States, Haiphong, North Carolina, China

A few hours before its Nasdaq debut, VinFast more than doubled its value in premarket trading involving less than 4% of its shares. Nikola now commands a market value of $1.4 billion, versus $13.9 billion before listing while Lucid has a current market value of $15.5 billion, versus $24 billion during its 2021 SPAC deal. It is still unclear how many of the company shares will trade on Tuesday and at what price. VinFast's founder, Vietnam's richest man Pham Nhat Vuong, pledged $2.5 billion in April to bolster the EV maker, including $1 billion from his personal fortune. He is the beneficial owner of 99% of the ordinary shares of the EV maker after the merger.

Persons: Mike Blake, Black Spade, Nikola Corp, Nikola, Lucid, Rivian, Pham Nhat Vuong, VinFast, Phuong Nguyen, Yantoultra, Jaiveer Singh, Francesco Guarascio Organizations: Los Angeles Auto, REUTERS, Nasdaq, Nikola, Tesla Inc, Rivian Automotive Inc, VinFast, P Global Mobility, Investors, Thomson Locations: Los Angeles , California, U.S, HANOI, Dealogic, North Carolina, Vietnam, United States

☆ Domino effect: India rice export ban puts market on edge for copycat curbs
▼ + stars: | 2023-08-11 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +6 min

New Delhi had already restricted lower quality broken rice supplies in 2022. In 2008, rice prices reached a record high above $1,000 per ton after India, Vietnam, Bangladesh, Egypt, Brazil and other small producers restricted exports. CHAIN REACTIONGlobal prices have risen by around 20% since India's ban. This week, rice prices in Thailand and Vietnam soared to 15-year highs as buyers rushed to cover shipments to compensate for the decline in India's exports. Rao said only Indian supplies can restore equilibrium in the global rice market.

Persons: Nitin Gupta, Trade Nguyen Hong Dien, Rice, B.V, Krishna Rao, Rao, Peter Clubb, Rajendra Jadhav, Naveen Thukral, Khanh Vu, Panarat, Shri Navaratnam Organizations: REUTERS, Olam Agri, Reuters Graphics, Reuters, of Industry, Trade, Rice, Association of Pakistan, Association of India, International Grains Council, Thomson Locations: Kolkata, India, MUMBAI, New Delhi, Thailand, Vietnam, Delhi, Asia, Africa, Olam Agri India, Bangladesh, Egypt, Brazil, Pakistan, Philippines, China, Senegal, Nigeria, South Africa, Malaysia, Cote d'Ivoire, El, London, Singapore, Hanoi, Bangkok

☆ Vietnamese EV maker VinFast gets go ahead for Nasdaq SPAC listing
▼ + stars: | 2023-08-10 | by ( Phuong Nguyen | ) www.reuters.com time to read: +3 min

Shareholders of Hong Kong-based Black Spade Acquisition (BSAQ.A), a blank-check company, voted on Thursday to approve the merger with VinFast. VinFast, in a joint statement with Black Spade, said it would list on the Nasdaq under the ticker symbol VFS "on or around August 15". It leaves VinFast's existing shareholders, including parent company Vingroup and Vuong, Vietnam's richest man, with 99% of shares in the company. "The voting results today are a vote of confidence in VinFast from Black Spade shareholders," VinFast's global head Thuy Le said in the statement. Black Spade was founded by the private investment arm of Lawrence Ho, son of the late gambling mogul Stanley Ho.

Persons: Mike Blake, VinFast, Black Spade, Pham Nhat Vuong, Thuy Le, Nikola Corp, EVs, VinFast's, Vuong, Lawrence Ho, Stanley Ho, Phuong Nguyen, Kirsten Donovan, Susan Fenton Organizations: Los Angeles Auto, REUTERS, U.S, Nasdaq, of Hong, VinFast, Black, Black Spade, Faraday, Nikola, Vingroup, Tesla, Thomson Locations: Los Angeles , California, U.S, HANOI, of Hong Kong, VinFast, North Carolina, Black, United States, Haiphong, Vietnam

☆ Biden says he will visit Vietnam 'shortly'
▼ + stars: | 2023-08-09 | by ( Nandita Bose | ) www.reuters.com time to read: +3 min

REUTERS/Leah... Read moreALBUQUERQUE, New Mexico, Aug 8 (Reuters) - U.S. President Joe Biden said on Tuesday he would be traveling to Vietnam "shortly" because the country wanted to elevate its relationship with the United States and become a major partner. Biden made the remarks while speaking at a political fundraiser in New Mexico. Asked about Biden's announcement, a White House spokesperson said there was "nothing further to share at this time." Officials have not said what the closer relationship might entail, but experts say it could include increased military cooperation and U.S. weapons supplies. Reporting by Nandita Bose; additional reporting by Jeff Mason and David Brunnstrom; Editing by Sandra Maler and Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Leah, Read, Biden, Pham Minh Chinh, Antony Blinken, Blinken, Vietnam's, Nguyen Phu Trong, Nandita Bose, Jeff Mason, David Brunnstrom, Sandra Maler, Raju Gopalakrishnan Organizations: Infrastructure Law, White, REUTERS, Washington, Communist, Officials, coastguard, Military, Thomson Locations: Washington , U.S, ALBUQUERQUE, New Mexico, Vietnam, United States, Asia, China, Washington, Hanoi, Russia, Maine, India, New Delhi, U.S

North Korean leader Kim Jong Un and Russia's Defense Minister Sergei Shoigu visit an exhibition of armed equipment on the occasion of the 70th anniversary of the Korean War armistice in this image released by North Korea's Korean Central News Agency on July 27, 2023. The fact North Korean hackers may have obtained information about the Zircon does not mean they would immediately have that same capability, said Markus Schiller, a Europe-based missile expert who has researched foreign aid to North Korea's missile programme. Last month, North Korea test-launched the Hwasong-18, the first of its ICBMs to use solid propellants. "North Korea announced that it was doing the same thing in late 2021. If NPO Mash had one useful thing for them, that would be top of my list," he added.

Persons: Kim Jong, Sergei Shoigu, ScarCruft, Lazarus, Tom Hegel, SentinelOne, Hegel, Obama, Nicholas Weaver, Matt Tait, Weaver, Vladimir Putin, Markus Schiller, Schiller, Jeffrey Lewis, James Martin, James Pearson, Christopher Bing, Chris Sanders, Alistair Bell Organizations: Russia's, North, Korean Central News Agency, KCNA, REUTERS, NPO Mashinostroyeniya, Pyongyang LONDON, Reuters, North Korean, United Nations, Soviet Union, NPO, Intercontinental Ballistic Missile, Mash, James, James Martin Center, Nonproliferation Studies, Korea, Thomson Locations: Pyongyang, WASHINGTON, Russian, Reutov, Moscow, Russia, Washington, New York, North Korea, Soviet, United States, Crimea, Korean, Europe, London

☆ iPhone Photography Awards 2023: Winners unveiled
▼ + stars: | 2023-08-03 | by ( Christy Choi | ) edition.cnn.com time to read: +2 min

CNN —Organizers announced the winners of the 2023 iPhone Photography Awards on Monday. Scott Galloway/iPhone Photography Awards"Palazzo della Civiltà Italiana,"Rome, Italy, by Leon Wang (United States) won 3rd place in Architecture. Sofia Ershova/iPhone Photography Awards"Duet," Zhejiang, China, by Zhang Xiaojun (China) won 3rd place in Children. Zhang Xiaojun/iPhone Photography Awards"Kapkungkap Tadau" Phuket, Thailand by Juan Castaneda (United States) won 2nd place in Series. Juan Castaneda/iPhone Photography Awards"Bi Mo," Zhaojue County, China, by Jian Wang (China) won 2nd place in People.

Persons: Ivan Silva, Heroe, Lionel Messi, Thea Mihu, Ba Jia Jiang, Surong Zhu, Scott Galloway, Leon Wang, Sofia Ershova, Zhang Xiaojun, Juan Castaneda, Jian Wang, Sasa Borozan, Beata Krowicka, Barry Mayes Organizations: CNN — Organizers, Italiana, Diesel Locations: Mexico, Sweden, Hanoi, Vietnam, Germany, Fujian, China, Ohio, USA, United States, Rome, Italy, Architecture, California, Zhejiang, Phuket, Thailand, Zhaojue County, People, Nature, Croatia, Bosnia, Herzegovina, Grande, Argentina, Poland, Travel, Sierra Leone, United Kingdom

☆ Read Your Way Through Hanoi
▼ + stars: | 2023-08-02 | by ( Nguyễn Phan Quế Mai | ) www.nytimes.com time to read: +1 min

Read Your Way Around the World is a series exploring the globe through books. Hanoi has always been a city of tales and legends. Cradled by the silky Red River, Hanoi is also a city of loss and survival: It was destroyed time and time again during the French Indochina War, then the Vietnam War, when thousands of tons of bombs were dropped onto the city. But once in Hanoi, you will feel the energy of a city that constantly renews itself. If you prefer to get to know Hanoi via fiction, “Dumb Luck,” by Vu Trong Phung — a sarcastic novel set in Hanoi during the colonial period — is considered a classic of Vietnamese literature.

Persons: ”, Emperor Ly Thai, Luke Nguyen, banh, Huong, Ho Xuan Huong, Nguyen Quang Thieu, Vu Trong Locations: Hanoi, Indochina, Vietnam

☆ Exclusive: Thai, Vietnamese exporters renegotiate 500,000 T of rice deals
▼ + stars: | 2023-08-01 | by ( Naveen Thukral | ) www.reuters.com time to read: +3 min

A farmer harvests rice by a paddy field outside Hanoi, Vietnam June 10, 2019. Exporters are rushing to cover rice supplies from farmers who have raised prices following a surge in the world market, putting millions of dollars worth of deals at risk. 2 and 3 exporters respectively, are estimated to ship more than one million metric tons of rice in August. While large exporting houses are likely to fulfil contracts, smaller trading companies are expected to default on shipments, traders said. Importers, including the Philippines, are likely to seek direct deals with governments of exporting countries to ensure critical food supplies.

Persons: Rice, Naveen Thukral, Khanh Vu, David Evans Organizations: REUTERS, Reuters, Rice, Thomson Locations: Hanoi, Vietnam, Thailand, SINGAPORE, India, Asia, Africa, Singapore, Ho Chi Minh City, Philippines

☆ Vietnam EV maker VinFast plans US listing in August after regulator nod
▼ + stars: | 2023-07-28 | by ( Phuong Nguyen | ) www.reuters.com time to read: +2 min

The EV maker had filed for an initial public offering in the U.S. to list on the Nasdaq in December last year, but in May it announced plans to list through a merger with special purpose acquisition company (SPAC) Black Spade Acquisition Co (BSAQ.A). VinFast and Black Spade aim to complete the merger by August, subject to shareholder approvals and other customary closing conditions, they said in a joint statement on Friday. "The declaration of the SEC effectiveness is a significant step towards the successful completion of the business combination between Black Spade and VinFast," Dennis Tam, Chairman and Co-CEO of Black Spade Acquisition Co said. Black Spade is set to hold an extraordinary shareholder meeting to approve the proposed business combination with VinFast on August 10, the joint statement said. The new merged entity was estimated by VinFast and Black Spade to have a potential equity value of $23 billion, according to their statement.

Persons: Black Spade, Dennis Tam, VinFast's, Nikola Corp, VinFast, Phuong Nguyen, Louise Heavens, Jane Merriman Organizations: Securities and Exchange Commission, Nasdaq, Spade, SEC, Faraday, Nikola, VinFast, Thomson Locations: HANOI, United States, U.S, North Carolina

☆ Vietnam EV maker VinFast to list in the U.S. in August after regulator nod
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

HANOI, July 28 (Reuters) - Vietnamese electric vehicle maker VinFast said on Friday it is planning to list in the United States next month via a blank-cheque company after the Securities and Exchange Commission (SEC) gave the go ahead to its proposed business combination. VinFast, a unit of Vietnam's biggest conglomerate Vingroup (VIC.HM), announced in May it would go public through a merger with special purpose acquisition company (SPAC) Black Spade Acquisition Co (BSAQ.A). VinFast and Black Spade aim to complete the merger by August, they said in a joint statement. "The declaration of the SEC effectiveness is a significant step towards the successful completion of the business combination between Black Spade and VinFast," Dennis Tam, Chairman and Co-CEO of Black Spade Acquisition Co said. Black Spade is set to hold an extraordinary shareholder meeting to approve the proposed business combination with VinFast, the joint statement said.

Persons: VinFast, Black Spade, Dennis Tam, Phuong Nguyen, Louise Heavens Organizations: Securities and Exchange Commission, SEC, Spade, Thomson Locations: HANOI, United States

☆ I'm a solo female traveler from Europe. Here's why I chose to go to Vietnam
▼ + stars: | 2023-07-27 | by ( Lucy Handley | Lisa Lucas | ) www.cnbc.com time to read: +8 min

Ho Chi Minh City highlightsI'd been warned about congestion in Ho Chi Minh City, which has a population of around 9 million. Tips for traveling in Vietnam Vietnam varies from hot and dry to cold and rainy, depending on the time of year. The Saigon Opera House in Ho Chi Minh City is an example of French architecture in the city. Although I only stayed a short time, I fell in love with Ho Chi Minh City's grand architecture, history and general buzz. The Mekong DeltaSouthwest of Ho Chi Minh City lies the Mekong Delta, a region of rice paddies, rivers and floating markets.

Persons: Ho, I'd, Ho Chi Minh, Ben Nghe, Mongkol, Rex, Eugene Ferret, It's, Bob Henry, Ucg, Thanh, Virgin Mary, Phan Thi Kim Phuc, Lucy Handley Thanh, Antonin Emery, Marius Mallein, Jolie, Minh, Cai, Andrew Woodley, Mark Barnett, expat Organizations: Ho Chi Minh City, Vietnam's National Authority of Tourism, Sapa, Chi Minh City People's, Rex, Saigon Opera House, Saigon Opera, Getty, Central Post Office, Notre Dame Cathedral, Vietnam Locations: Vietnam, Ho Chi Minh City, Mekong Delta, Phu, Gulf, Thailand, Ho Chi Minh, Vietnam Vietnam, Hanoi, Hoi, Nguyen Hue, Ben, Chi Minh City, Ville, France, Saigon, French, Saigon Saigon, Mekong, Delta, homestays, My, Tho, Con Quy, Can, Phnom Penh, Cambodia, U.S, cassia, mealtimes

☆ Vietnam aims to raise raw rare earths output to 2 mln t/yr by 2030
▼ + stars: | 2023-07-25 | by ( Khanh Vu | ) www.reuters.com time to read: +2 min

[1/2] Samples of rare earth minerals from left: Cerium oxide, Bastnaesite, Neodymium oxide and Lanthanum carbonate at Molycorp's Mountain Pass Rare Earth facility in Mountain Pass, California June 29, 2015. Its rare earths production jumped to 4,300 tonnes last year from 400 tonnes in 2021, the USGS said. Vietnam will develop three to four new mines after 2030, aiming to raise its raw rare earths output to 2.11 million tonnes by 2050, the document showed. "The objective of the plan is for the country to develop a synchronised and sustainable industry of rare earths mining and processing," it said. Rare earths are a group of elements that have applications in electronics manufacturing and batteries, making them important for the global transition towards cleaner sources of energy and in defence.

Persons: David Becker, Lao Cai, Yen Bai, Tran Hong Ha, Khanh Vu, Kanupriya Kapoor Organizations: REUTERS, Reuters, United States Geological Survey, Deputy, REO, Thomson Locations: Pass , California, HANOI, Vietnam, China, Lai Chau, Lao

☆ US Treasury's Yellen sees Vietnam as key partner in 'friendshoring' supply chains
▼ + stars: | 2023-07-21 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

July 21 (Reuters) - The United States sees Vietnam as a key partner in expanding green energy sources and building more resilient supply chains, U.S. Treasury Secretary Janet Yellen said in a speech to be delivered in the country's capital of Hanoi on Friday. Yellen's visit is part of a push by the United States to upgrade its formal ties with Vietnam as it works to reduce dependence on Chinese supply chains by expanding manufacturing at home and boosting trade with trusted partners. But its efforts have met some resistance in Hanoi, over what experts see as concerns that China could view the move as hostile. The United States and Vietnam normalized relations in 1995, two decades after the end of the Vietnam War, and signed a bilateral trade agreement five years later. She underscored that Washington's "friendshoring" drive was not meant for "an exclusive club of countries.

Persons: Janet Yellen, Yellen, Washington, Andrea Shalal, Jamie Freed Organizations: Treasury, U.S ., ASEAN Business Council, Intel, Initiative, The, Vietnam's, Thomson Locations: United States, Vietnam, U.S, Hanoi, Asia, Washington, China, Arizona, Saigon, The United States

☆ A Mother, Her Daughter, a Masterwork of Psychological Tension
▼ + stars: | 2023-07-21 | by ( Flynn Berry | ) www.nytimes.com time to read: +1 min

HOW TO LOVE YOUR DAUGHTER, by Hila Blum. A woman travels for thousands of miles to spy on a family at the start of “How to Love Your Daughter,” by Hila Blum. Inside are her daughter Leah and her two granddaughters, but they don’t know she is outside: Yoella hasn’t seen Leah in years and has never met her granddaughters. For six years, Leah has made sporadic calls to her mother from around the world, “from Dharamsala, Bangalore, Hanoi, Chiang Mai. She puts herself on trial as a mother, summoning witnesses, poring over the evidence, searching for a crime.

Persons: Hila Blum, Daniella Zamir, Yoella, Leah, Yoella hasn’t, Chiang Mai, “, poring Locations: Dharamsala, Bangalore, Hanoi, Netherlands

☆ Morning Bid: Dollar flexes into Fed week, calm returns
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +4 min

Another unexpectedly tight weekly reading from the U.S. labour market sowed some lingering doubts that we're on the cusp of 'peak Fed' just yet. The tech wobble saw the Nasdaq (.IXIC) recoil 2% in its biggest drop since March. A quieter earnings schedule is topped by American Express - but nearly all the other banks have been impressive over the past week. Pessimists think the Fed is not done tightening yet and any further rate hikes after next week will just hasten a downturn in 2024. That has sobered up the Treasury market a touch after a couple of weeks of disinflation relief.

Persons: Mike Dolan, jockeying, we're, Dow Jones industrials, Johnson, Pessimists, Huntington Bancshares, Janet Yellen, Angus MacSwan Organizations: Big Tech, Tesla, Netflix, Nasdaq, American Express, Treasury, Bank of Japan, Comerica, Regions, Roper Technologies, Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, Huntington, Schlumberger, Canada, Hanoi

☆ Vietnam EV maker VinFast to start construction of US factory next week
▼ + stars: | 2023-07-19 | by ( Phuong Nguyen | ) www.reuters.com time to read: +1 min

HANOI, July 19 (Reuters) - Vietnamese automaker VinFast said on Wednesday it would start construction of a $4 billion electric vehicle factory in North Carolina next week as part of its push to expand in the United States market. The unit of Vietnam's largest conglomerate Vingroup (VIC.HM), which began operations in 2019, announced plans for the U.S. factory last year. It is targeting the start of production in 2025, a year later than its initial plan. "When it begins operations, the factory will be VinFast's primary supplier of electric vehicles to the North American market," said Thuy Le, head of VinFast Auto. The project's first phase includes a $2 billion investment in a factory capable of producing 150,000 vehicles a year.

Persons: VinFast, Thuy Le, Tesla, China's, Vinfast, Phuong Nguyen, Jamie Freed Organizations: U.S, North, VinFast Auto, Spade, Thomson Locations: HANOI, North Carolina, United States, North American, California

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