V-GREEN, a private firm owned by billionaire Pham Nhat Vuong, and Prime Group, a multi-sector conglomerate, on December 11 announced a memorandum of understanding (MoU) to develop a network of charging stations for VinFast electric vehicles (EVs) in Indonesia, with a projected total investment of up to 1.2 billion USD.

State-owned Indonesia Battery Corporation (IBC) and LG Corporation of the Republic of Korea will cooperate in building a new battery plant worth 1.2 billion USD with the capacity of 10 GWh in the Southeast Asian country.

The southern province of Binh Duong enjoyed a trade surplus of more than 1.2 billion USD in the first quarter, with export turnover of over 5.6 billion USD and import value of nearly 4.4 billion USD.