HCMC to see soaring office demand in next four years As Southeast Asian economies expand, office demand, particularly from technology, e-commerce, and co-working space companies, is expected to rise by an estimated 6 per cent annually between 2018 and 2021, with Ho Chi Minh City seeing a rate of 10 per cent in the period, according to JLL Vietnam. As at the end of the second quarter of 2018, total stock in Ho Chi Minh City’s office market increased to 1,945,000 sq m, with overall Grade A and B occupancy rates standing at a high of above 95 per cent. The overall rental rate is expected to continue its upwards trend with support from healthy demand and increased quality in future supply. A large volume of high-quality Grade B supply is also projected to be completed by 2020 and will likely put pressure on Grade A in the future, especially long-standing Grade A projects with deteriorating construction quality. In Hanoi, demand for Grade A and B office space in 2018-2019 … [Read more...] about BUSINESS NEWS IN BRIEF 28/9
Businesses hiring 14 year olds
BUSINESS NEWS IN BRIEF 1/9
Vinatex completes 65% of yearly revenue target Viet Nam National Textile and Garment Group (Vinatex) has completed 65 per cent of the yearly target set for total revenues with its eight-month result (excluding VAT) reaching over VND31.45 trillion (US$1.34 billion). This figure also represented a rise of 7 per cent against the same period last year, the textile group reported in a filing to the Ministry of Planning and Investment. In August alone, it earned VND4.48 trillion in revenue, down 5 per cent year-on-year, of which turnover of the parent company and subsidiaries with its holdings of over 50 per cent capital reached almost VND1.74 trillion. Revenues from other affiliate companies in which the group holds less than 50 per cent capital reached a combined VND2.74 trillion. Vinatex attributed the growth in total revenues to increases in sales of fibre products (96,051 tonnes, up 9.5 per cent year-on-year), fabric of all kinds (100.7 million m3, up 18.6 per cent) … [Read more...] about BUSINESS NEWS IN BRIEF 1/9
BUSINESS NEWS IN BRIEF 1/8
Vinh Phuc seeks investment from S Korea The northern province of Vinh Phuc promoted its potential and called for investment at a conference held in Gyeonggi Province in South Korea on Friday. Speaking before an audience of South Korean businesspeople, Chairman of Vinh Phuc provincial People’s Committee Nguyen Van Tri highlighted the province’s convenient location in Viet Nam’s northern key economic zone and favourable natural conditions suitable for industry, tourism and hi-tech agriculture. He informed the South Korean business circle that the province has made efforts to streamline its administrative procedures, upgrade infrastructure, especially at industrial zones, and train the local labour force. The provincial leader reported that Vinh Phuc is now home to more than 300 foreign direct investment (FDI) projects, including many run by South Korean corporations such as Partron Vina, Haesung Vina, Bangjoo and Interflex. Several more South Korean … [Read more...] about BUSINESS NEWS IN BRIEF 1/8
Kylin dance skills passed down generations
Moving: Young performers from Long Nhi Đường, a dragon dance troupe in District 8, offer both new and traditional dances by performers aged 6 to 17 who are orphans or were once homeless. Photo courtesy of the troupe’s Facebook Viet Nam News The Múa lân (kylin dance) is often performed by the ethnic Hoa (Chinese-Vietnamese) who account for around 4 per cent of HCM City’s population. Many of them live in Chợ Lớn (Big Market) in District 5. The dance is usually performed to bring luck and happiness during Tết (Lunar New Year), Mid-Autumn Festival, and at ceremonies to open a new business or build a new house. Anh Thu reports. HCM City has dozens of professional dance troupes, including leading troupes Nhơn Nghĩa Đường and Kiến Thắng Đường of Chợ Lớn (Big Market) in District 5 with 100-200 performers each. But Long Nhi Đường, a smaller … [Read more...] about Kylin dance skills passed down generations
France faces second day of transport chaos as rail workers strike
Weeks of disruption lie ahead for France's 4.5 million daily train passengers AFP/ludovic MARIN Only one in seven high-speed TGV trains and one in five regional trains were expected to be running, state rail operator SNCF warned, after similar stoppages on the first day of the walkout that French media dubbed "Black Tuesday". The strike is being led by SNCF staff but workers at Air France as well as garbage collectors and some energy workers also staged separate walkouts in a growing atmosphere of social strife 11 months after 40-year-old Macron came to power. Macron's government says the heavily-indebted SNCF needs deep reforms as EU countries prepare to open passenger rail to competition by 2020, arguing it is 30 per cent more expensive to run a train in France than elsewhere. Unions fear the changes are a first step towards privatising the national rail operator - a claim the government denies - and object to plans to strip new hires of a special rail workers' status guaranteeing … [Read more...] about France faces second day of transport chaos as rail workers strike