Vietnam is becoming a popular destination for research and development (R&D) among multinationals as the country cements its status as a new global manufacturing hub.
Vietnamese leading multi-business group Thaco is looking for an investor into its automobile arm Thaco Auto with a 10% stake, Thaco vice chairman Nguyen Hung Minh said.
Thaco Group, one of Vietnam’s leading private conglomerates, is considering bringing in an investor into its automobiles arm Thaco Auto in a deal that could value the producer at around $5 billion, Reuters said Wednesday.
Vietnam’s importance as a highly favoured investment destination for leading South Korean companies is reflected in the strong business delegation accompanying President Yoon Suk Yeol, officials say.
Hyundai Motor and its sister automaker Kia are looking to build on their leading positions in Vietnam, and Hyundai Motor Group executive chairman Chung Euisun will accompany Korean President Yoon Suk Yeol on his three-day state visit starting Thursday.