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Japan’s foreign ministry confirmed on Thursday that the initial project would cost approximately $10 billion, with construction scheduled to begin before the end of 2026. Expansion of production facilities could eventually raise the total investment to about $21 billion, although the second factory remains conditional.

The agreement forms part of a $550 billion Japanese investment commitment negotiated with President Donald Trump’s administration in 2025, alongside a reduction in American tariffs on Japanese vehicles and other imports to 15 per cent.

GlobalFoundries said the first manufacturing plant at its existing Malta campus would begin production in 2029. An additional investment of approximately $10 billion would finance a second facility, with a decision on that expansion expected before the end of 2028.

Japan will supply the investment capital, while GlobalFoundries will provide manufacturing technology, technical expertise and operational management. The factories will be jointly owned by American and Japanese interests under an arrangement intended to expand semiconductor output without requiring the company to finance construction itself.

The first plant is expected to produce approximately 900,000 silicon wafers measuring 300 millimetres annually when fully operational. A second plant would add comparable capacity, substantially increasing the company’s manufacturing footprint in upstate New York.

GlobalFoundries estimates that the initiative will support approximately 27,000 construction and associated supply-chain jobs, alongside more than 1,000 skilled manufacturing positions in New York’s Capital Region. Those figures are projections rather than employment already created.

The US Commerce Department will separately receive an equity interest of approximately four per cent in GlobalFoundries. Chief executive Tim Breen said the transaction would raise the government’s overall holding to about seven per cent. The company is majority owned by Abu Dhabi’s Mubadala Investment Company.

GlobalFoundries shares advanced after the announcement, reflecting investor interest in an expansion model that could increase manufacturing capacity while limiting construction expenditure.

The ownership arrangements distinguish the investment from conventional private-sector semiconductor expansion. Japanese financing will underpin the factories, while the American government will gain a larger financial interest in the operator and participate in the broader manufacturing initiative.

GlobalFoundries also agreed with the Commerce Department to revise an existing award under the CHIPS and Science Act, reallocating $955 million towards investments in silicon photonics, silicon-germanium technology and advanced packaging at facilities in Malta and Burlington, Vermont.

These technologies are used in communications systems and data centres, where manufacturers are seeking faster connections and more efficient processing of large volumes of information. The separate funding revision does not represent an additional Japanese commitment to the two factories.

Japan’s foreign ministry described the New York project as the first semiconductor investment under the bilateral Strategic Investment Initiative announced in September 2025. It said the initiative was intended to strengthen supplies of mature-node chips used in automobiles, industrial machinery, smartphones and artificial intelligence data centres.

Although attention has focused heavily on advanced processors for artificial intelligence, mature-node semiconductors remain essential components in vehicles, industrial equipment and connected devices. Their availability is important to manufacturers seeking more geographically diversified supply chains.

The first facility will be built at an established semiconductor manufacturing location, allowing the investment to draw on existing industrial infrastructure and a local workforce. However, the announced timetable does not mean projected production capacity will be available immediately when operations begin.

Breen said GlobalFoundries had been chosen because large fabrication projects required manufacturing expertise and operational capabilities alongside financing. US Commerce Secretary Howard Lutnick welcomed the investment as a contribution to domestic manufacturing and employment.

The Japanese government expects the project to create commercial opportunities for its semiconductor equipment and materials suppliers. Tokyo Electron and SCREEN Holdings have expressed interest in supplying manufacturing equipment, while Tokyo Ohka Kogyo has indicated interest in materials and components.

Renesas Electronics, a major Japanese chipmaker supplying automotive and industrial customers, has expressed interest in purchasing output from the proposed facilities. Its participation could provide an important customer relationship as production plans advance.

Japan’s foreign ministry also identified smaller suppliers, including Fujikin and Kusakawa Seiki, as potential participants in the equipment and materials supply chain. Their involvement remains prospective, rather than a confirmed allocation of orders.

Planned high-speed rail and road links are expected to bring the city center within 20 to 35 minutes of the 2,870-hectare ESG++ coastal urban area in Can Gio, while on-site schools, healthcare, offices and parks are designed to reduce the number of trips residents need to make.

HO CHI MINH CITY, VIETNAM – Media OutReach Newswire – 16 October 2026 – Vinhomes is developing Vinhomes Green Paradise, a 2,870-hectare ESG++ coastal urban area in Can Gio, southeastern Ho Chi Minh City, around one measure of location: the time residents spend getting where they need to go.

The master plan rests on two pillars. First, new transport infrastructure is expected to shorten journeys to the city center: the Ben Thanh-Can Gio high-speed railway, targeted for commercial operation in the fourth quarter of 2028, is designed to link the area with downtown in about 20 minutes, while the planned Can Gio Bridge and a widened Rung Sac Boulevard are expected to cut drive times to about 35 minutes.

Second, an on-site ecosystem that includes 104 planned schools, an international general hospital, more than 2 million square meters of office space and more than 370 parks is intended to place most daily needs within reach of home.

The approach responds to a shift in how urban households assess where to live. In fast-growing cities, a home only a few kilometers from the workplace can still require hours in traffic each week. For a resident who saves 15 minutes each way, the gain is about 11 hours a month over 22 working days.

Academic research suggests these hours carry real weight. Using German household data from 1985 to 1998, University of Zurich economists Alois Stutzer and Bruno Frey identified what they termed the “commuting paradox”: people with longer commutes consistently reported lower life satisfaction, contrary to the standard assumption that they are fully compensated by higher pay or better housing. By their estimate, a person commuting one hour each way would need roughly 40% more income to be as satisfied as someone with no commute.

In Ho Chi Minh City, where rapid growth has outpaced the expansion of the road network, traffic congestion remains a significant cost to residents and the local economy. For many homebuyers, the relevant question is increasingly not how far a property is from the center, but how long it takes to get there.

Rail and road links expected to bring the city center within 20 to 35 minutes

Two major infrastructure projects are set to change how Can Gio connects with the rest of Ho Chi Minh City. The Ben Thanh-Can Gio high-speed railway is designed to reach the city’s historic center in about 20 minutes, and the Can Gio Bridge, together with an expanded Rung Sac Boulevard, is expected to bring drive times from downtown to about 35 minutes.

Can Gio, home to a UNESCO-recognized mangrove biosphere reserve, has long been reached mainly by the Binh Khanh ferry. The railway, developed by Vingroup company VinSpeed, will run about 54 kilometers with a maximum design speed of 350 km/h. Construction began in December 2025, and commercial operation is targeted for the fourth quarter of 2028. The line will connect Ben Thanh station in central Ho Chi Minh City with Vinhomes Green Paradise.

On the road network, the Can Gio Bridge, scheduled to open in 2029, will replace the Binh Khanh ferry crossing. Rung Sac Boulevard, the main artery to the area, is being widened to up to 10 lanes. Once complete, the two options are expected to give residents a choice between rail for direct trips to the center and road travel for journeys with multiple stops.

International research points to a link between transit access and property values. A study commissioned by the American Public Transportation Association (APTA) and the National Association of Realtors (NAR), which tracked five U.S. metropolitan regions from 2006 to 2011, found that homes within half a mile of high-frequency transit outperformed their wider regions by 41.6% over the period, which included the Great Recession. A 2019 follow-up study found that homes near transit sold at median prices 4% to 24% higher than those farther away.

On-site services designed to reduce the number of daily trips

Beyond the commute, Vinhomes Green Paradise is planned to bring education, healthcare, work, retail and recreation inside the community, so that school runs, medical visits, shopping and exercise require shorter trips or none at all. Key components include 104 planned schools, Vinmec Can Gio International General Hospital, more than 2 million square meters of office space and more than 370 parks and green areas.

Education: The master plan provides for 104 schools, including the Vinschool K-12 system and Brighton College Vietnam, reducing the need for long school runs across the city.

Healthcare:Vinmec Can Gio International General Hospital is being developed with Cleveland Clinic as strategic advisor and is designed around the Cleveland Clinic model of care, offering residents access to international-standard treatment close to home.

Work:More than 2 million square meters of office space is intended to allow residents to work near where they live, as financial and technology businesses establish a presence in the area.

Retail and leisure:Planned amenities include Vincom shopping centers, a 20-hectare premium outlet, the 46-hectare Cosmo Bay dining and entertainment complex, two golf courses covering 155 hectares, the 122-hectare VinWonders theme park and Song Xanh Theater.

Green space:More than 370 parks and green areas are planned to place open space within 500 meters of every residence, linked by walking paths and bicycle lanes. The Trust for Public Land estimates, conservatively, that buyers pay 5% to 15% more for homes within three blocks of a well-maintained park.

The project draws on planning principles that cities such as Copenhagen and Singapore have applied for years: development organized around public transit, mixed land use and walkable neighborhoods. At Vinhomes Green Paradise, high-speed rail, education, healthcare, offices and recreation are being planned together from the outset rather than added incrementally, with the aim of measuring a home’s location by the time it returns to residents.
Hashtag: #Vinhomes

https://vinhomes.vn/en

The issuer is solely responsible for the content of this announcement.

About Vinhomes

Vinhomes is Vietnam’s largest residential real estate and integrated township developer. The company pioneers the development of synchronized, modern large-scale townships, delivering premium living standards and unlocking sustainable investment opportunities for domestic and international clients.

The IMF forecast regional expansion of 4.8 per cent in 2026, compared with 5 per cent last year, followed by a further slowdown to 4.4 per cent in 2027. Its latest estimate for this year nevertheless represents a substantial upgrade from the 4.4 per cent projected in April.

The revised outlook reflects sharply contrasting pressures across Asia. Demand for semiconductors, data centres and other technology equipment has strengthened exports and investment, while higher energy costs linked to the Middle East conflict have squeezed economies dependent on imported fuel.

The fund warned that a reversal in AI investment or technology share valuations could undermine growth disproportionately because Asian manufacturers occupy central positions in global electronics supply chains. Higher sovereign borrowing costs and prolonged disruption to energy supplies present additional threats.

Emerging and developing Asian economies are projected to grow 5.1 per cent this year, down from 5.6 per cent in 2025, before slowing to 4.9 per cent next year. Advanced regional economies are expected to expand 3.2 per cent in 2026, compared with 2.5 per cent last year, then moderate to 2 per cent in 2027.

The IMF upgraded forecasts for South Korea, Taiwan and Hong Kong, where demand linked to AI infrastructure has lifted manufacturing and exports. China and India also received upward revisions, although countries facing higher inflation without equivalent technology gains have experienced weaker growth projections.

Krishna Srinivasan, director of the IMF’s Asia and Pacific Department, said at the fund’s annual meetings in Bangkok that technology exports had accelerated sharply during the first half of 2026. Demand for chips and investment in data centres were important contributors, alongside stronger trade within the region.

He said economies had responded to energy disruptions by diversifying fuel suppliers, reducing consumption, increasing alternative energy use and drawing down inventories. Governments had also introduced measures intended to contain inflation, protect incomes and prevent supply shortages.

Those adjustments have not eliminated the unequal effects of the energy shock. Bangladesh, Cambodia and Laos are among the fuel-importing economies with limited direct exposure to the AI investment boom and comparatively restricted financial resources to absorb further pressure.

The IMF urged monetary authorities to maintain price stability as expensive energy threatens to push inflation expectations higher. It cautioned that central banks could face difficult decisions if weaker growth coincides with persistent price pressures, particularly where currencies and capital flows respond to changes in global interest rates.

Fiscal policy should focus on vulnerable households and businesses rather than costly blanket subsidies, the fund indicated. Elevated public debt and higher bond yields reduce governments’ ability to sustain broad support programmes without increasing financial risks.

The regional assessment comes as investors reassess the durability of spending on AI infrastructure. Asian technology shares suffered steep losses on Thursday, with South Korea’s benchmark stock index falling nearly 8 per cent and Japan’s Nikkei dropping about 5 per cent amid concerns over US inflation and borrowing costs.

The fund also identified concentrated stock market valuations and increased investor leverage as potential sources of instability. A sharp repricing could affect financing conditions and confidence even in economies where orders for technology products remain comparatively strong.

Separately, the IMF expects China’s growth to slow from 5 per cent in 2025 to 4.5 per cent this year and 4 per cent in 2027. It has called for stronger domestic demand and fiscal measures to counter deflationary pressures, rather than continued reliance on external sales.

Beyond financial markets, the fund highlighted employment challenges associated with technological change. Srinivasan said its research found employer demand for jobs more exposed to AI had declined by 10 per cent, although that effect appeared to have stabilised as employers sought workers with relevant skills.

The IMF recommended addressing youth unemployment and skills mismatches, strengthening social protection and improving energy security through diversification and renewable supplies. It also supported deeper regional trade integration as governments seek to preserve access to markets despite tariff barriers.

The regional outlook additionally identified a severe El Niño episode as a potential disruption to agriculture, fisheries and hydropower generation, with possible consequences for food and electricity prices across vulnerable economies, particularly in countries heavily reliant on imported energy.

By Nitya Chakraborty An analytical article recently published in The Wall Street Journal on the latest trends in Chinese economy has led to an intensive discussions among the think tank and the Communist Party leadership in China. Finally the official position is that China is happy to remain as a developing country as a part […]

The article China Refuses To Be Labelled As A Developed Country, It Is Happy As A Developing Nation appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By Arun Srivastava BJP’s second in command, Amit Shah has been aggressively deploying tactical counters and localized statecraft to retrieve his long-standing “Chanakya” reputation following recent legislative and coalition challenges. While political shifts after the 2024 Lok Sabha elections forced a more collaborative alliance approach, his October 13 observation that the Congress party will face […]

The article Amit Shah’s Prediction Of Big Win For BJP In 2029 Lok Sabha Polls Has To Be Taken Seriously appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Under the program, dealer partners that open new VinFast electric motorcycle showrooms in the Philippines and Indonesia by December 31, 2026, will receive basic support of up to US$40,000 per location, depending on the showroom’s size, floor area, and dealership standards. Showrooms that open by October 31, 2026, will qualify for an additional incentive of up to US$5,000 per location. Finally, partners that open three or more stores will also receive an additional incentive of up to US$15,000 per location.

The program is designed not only to create new business opportunities for dealer partners, but also to encourage more consumers to switch to greener transportation and help protect the environment. Through this initiative, VinFast continues to advance its goal of accelerating the shift toward greener, cleaner, and quieter mobility.

VinFast is committed to providing dealer partners with comprehensive support, from business consulting and marketing strategies to professional training, helping them get their operations up and running quickly. This support will also ensure that dealerships across the network follow VinFast’s standards for brand identity, showroom design, operating procedures, and customer service.

By joining the VinFast network, partners will have the opportunity to offer high-quality battery-swapping electric motorcycles that are safe, reliable, environmentally friendly, and suited to a wide range of customer needs, initially including the Evo, Feliz II, and Viper. Partners can also benefit from VinFast’s supporting infrastructure, including its continuously expanding service and warranty facilities, as well as support policies for service workshops. This will provide a solid foundation for dealer partners to confidently deploy services, enhance the customer experience, and strengthen the competitiveness of their products in the market.

Ms. Vo Thi Cam Tu, Managing Director of VinFast E-scooter Overseas Markets, said: “Expanding our dealer network is an important part of VinFast’s strategy to build an electric motorcycle ecosystem in international markets. We are looking to partner with businesses that share our long-term vision for green mobility, while giving dealers the support they need to make the most of their strengths within the VinFast network. From developing showrooms to running day-to-day operations and serving customers, VinFast will continue to work closely with our partners to build a stronger electric motorcycle network.”

The expansion of the electric motorcycle dealer network is part of VinFast’s broader plan to expand its distribution network in the Philippines and Indonesia, with the company targeting hundreds of stores in the two markets, respectively, by the end of 2026. As of September 2026, VinFast has 63 electric motorcycle dealerships operating in Indonesia and the Philippines. Going forward, VinFast will continue to expand its presence and bring its electric vehicle products and services closer to consumers across Southeast Asia, supporting the region’s transition to greener, smarter, and more modern mobility./.

Hashtag: #VinFast

The issuer is solely responsible for the content of this announcement.

By Dr. Gyan Pathak Even as employment among the graduate-level or higher education have registered about 21 million increased in the last one year, share of working graduates in the labour market of India fell to 5 years low in September 2026 with fall in Labour for Participation to 52.26 per cent. Moreover, adding to […]

The article Working Graduate Share In Labour Market Fell To 5 Years Low In September appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

The German automotive supplier said the facility, formally inaugurated on 8 October, already employs more than 120 engineers and is expected to increase its workforce to more than 300 over the coming years. It did not specify a deadline for reaching that target or disclose the investment involved.

Engineers at the Pune centre are working on software, hardware, systems engineering and mechanical development for customers internationally. Their responsibilities include embedded software, functional safety, cybersecurity and technologies associated with the next generation of steering and chassis systems.

The operation will collaborate with Thyssenkrupp’s development teams in other countries throughout product development, rather than concentrating exclusively on projects for the domestic vehicle market. The company described the facility as an integrated part of its global research and development organisation.

Viktor Molnar, chief operating officer of Thyssenkrupp Automotive Technology, said software, electronics and collaboration between engineering teams across countries were becoming increasingly important to the automotive industry. The Pune operation would provide additional development capacity for customers worldwide, he said.

The expansion reflects changes in vehicle engineering as software increasingly controls functions previously handled primarily through mechanical components. Steering and chassis systems now require developers to coordinate electronic hardware, embedded code and physical components while meeting stringent safety and security requirements.

Functional safety work concerns the identification and control of hazards arising from failures in electrical and electronic systems. Cybersecurity engineering addresses vulnerabilities that could expose connected vehicle functions to interference or unauthorised access. Both are integral to the development of more digitally controlled automotive systems.

The Pune engineers will contribute to customer programmes at different stages of development, including systems design and integration. Thyssenkrupp has not identified individual vehicle manufacturers whose programmes will be handled at the new location, nor has it disclosed specific contracts associated with the expansion.

Björn Erbe, a senior research and development executive in Thyssenkrupp Automotive Technology’s chassis business, said the intention was to establish a significant engineering operation integrated with the group’s international teams. Combining expertise based in Pune with the company’s existing technical resources would enable it to expand development activities, he said.

The centre is situated at Solitaire Business Hub 2 in Pune’s Baner-Balewadi business district. The company identified the city’s established automotive manufacturing sector, universities, engineering businesses and availability of software specialists as factors behind its choice of location.

Recruitment is expected to concentrate initially on software, hardware and mechanical engineering, with specialist capabilities added according to technical needs and customer demand. The company has also indicated that it sees opportunities to work with universities and the wider engineering community in Pune.

The company’s move also places engineering functions and prospective customer engagement in the same city, although it has not yet publicly said whether the new sales organisation will operate from the engineering premises. The plans for sourcing and sales are separate from the confirmed staffing figures for the development centre.

The engineering investment forms part of a broader plan to expand Thyssenkrupp Automotive Technology’s activities in India. The company is strengthening its sourcing operations and establishing a sales team in Pune to build relationships with vehicle manufacturers and pursue business locally.

Manufacturing is not included in the newly inaugurated engineering centre. Thyssenkrupp said it envisages establishing production capabilities in India only if it secures suitable customer projects. No factory location, investment commitment or production timetable has been announced.

The distinction means the confirmed expansion concerns engineering capacity, while local manufacturing remains conditional on commercial demand. The company has similarly not given a precise timetable for the next phase of staffing at the Pune development site.

Plans for the facility were first announced in 2025, and engineering operations were progressively established before the formal opening. The inauguration therefore marks an expansion of an existing development team rather than the beginning of work at an entirely unstaffed location.

Thyssenkrupp’s steering business also announced a partnership with L&T Technology Services in June 2025 for a Pune software development hub dedicated to safety-critical steering applications. That agreement provided for L&T Technology Services to establish and manage the hub on the steering business’s behalf. The latest inauguration announcement did not specify whether the two Pune operations share facilities or personnel.