| | APRIL 20244 EditorialIt's Vietnam Vs. India in Manufacturing Insights for Business LeadersVol 04 · Issue 11-3 · APRIL, 2024Publisher Alok ChaturvediManaging Editor Sujith Vasudevan Manager - DesignPrabhu Dutta A.R.N RayNoidaRohit Raghubanshi Akshay Shettyadvertise@ceoinsightsasia.comEditorial queries editor@ceoinsightsasia.comTo subscribeVisit www.ceoinsightsasia.com/subscribe/ or send emailto subscription@ceoinsightsasia.comMagazine Price is $50 per issuePublisher Alok ChaturvediPrinted and Published By Alok Chaturvedi on behalf of InfoConnect Web Technologies India Pvt. Ltd., and Printed at Executive Prints - 113/7, Ground floor, Old madras road, Halasuru, Bangalore 560008 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2024 InfoConnect Web Technologies India Pvt. Ltd., All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.Designers Tushar Das Mrigank SharmaVP - Sales & Marketing Amrit Kumar Singh Circulation Manager Magendran PerumalEditorialHima P.M. Keerthana Kantaraju P. Tejaswini Roopalatha H. According to the International Monetary Fund (IMF), Vietnam's gross domestic product (GDP) is forecasted to reach about $469.7 billion by the end of 2024, ranking fifth in Southeast Asia. The growth of the country's economy is largely driven by the growth of its manufacturing sector and foreign investments in the segment. It's been only days since the Japanese trading company Mitsui & Co announced a definitive investment decision to proceed with the development of Vietnam's Block B gas field. The project represents a significant commitment by Mitsui, with an investment share of around $740 million, channeled through its subsidiary, Mitsui Oil Exploration (MOECO). This strategic move will help enhance energy security in the region, which, in turn, will help the manufacturing sector.On the other hand, according to both local and regional media, Hana Micron, South Korea's semiconductor giant, plans to invest $1 billion into chip production in Vietnam by 2025. The South Korean chip packaging and memory product manufacturer is moving equipment to its new second factory in Bac Giang Province, located in northern Vietnam. During the inauguration ceremony of the second factory, Hana Micron chairman Choi Chang Ho revealed that the group plans to raise its investment to over $1 billion by 2025. However, Vietnam's dreams of manifesting manufacturing prowess will not be easy as India offers tough competition, especially in the semiconductor industry. As the competition flares, we think it is the right time to shed light on the leaders driving this competition. Sujith VasudevanManaging Editoreditor@ceoinsightsasia.com
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