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Illustrative photo. (Source: VNA) Hanoi (VNA) – The recovery of the industrial real estate sector will be fueled by new investment waves , according to the Vietnam Association of Realtors (VARS). Vinhomes IZ, an industrial property arm of developer Vinhomes, has raised its charter capital from 70 billion VND (3.02 million USD) to 18.5 trillion VND over the last two years. VARS said Prime Minister Pham Minh Chinh had meetings with numerous major US corporations during his visit to the US last week which provided positive feedback. Meeting with the Vietnamese PM, Apple CEO Tim Cook said his company is planning to expand the supply chain and hopes more eligible firms from Vietnam will integrate into its global value chain, VARS noted. The global economy has been severely hurt by the Russia-Ukraine crisis, worsened by China’s “Zero COVID” policy, triggering supply chain disruptions and surging costs and transportation time. As a result, demand for storages, warehouses and … [Read more...] about Industrial real estate recovery to be fueled by new investment wave

At a Saturday conference in Harvard University on Vietnam's development strategy in the 21st century, Prime Minister Pham Minh Chinh said Vietnam's economy has expanded into the fourth largest economy in ASEAN and among the world's top 12 economies with the largest scale of commerce. The country also takes part in 15 active FTAs, he said. Economist David Dapic said Vietnam taking part in FTAs was a major success. Millions of farmers have moved on to work in factories as a result. But the fact that most materials for production are imported from China is a weakness, he added. When the Covid-19 pandemic broke out, borders were closed and there was commercial tension, Vietnam's exports were affected, Dapic said. Vietnam's trade turnover with the U.S. may reach $100 billion this year. Such a figure might be small for the U.S., but Vietnam should take note to remain in constant communication and avoid being accused of currency manipulation, he advised. Nguyen Thi Hong, head of the … [Read more...] about Avoid unworthwhile investments, try estate taxes, Vietnam advised

Le Thi Bao Tran, a young white-collar worker in Ho Chi Minh City, has spent the past eight years moving between rented rooms, doing her best to save up enough money to purchase a home of her own. Like other young, white-collar workers who have moved to Ho Chi Minh City to pursue their careers, Tran hopes to eventually purchase a home in the city, but the rising cost of real estate has kept that dream out of reach. A lifelong dream Tran spent her college years moving between rental apartments in Binh Thanh District. At one point, she shared a tiny 10-square-meter apartment with a friend for just VND1.1 million ($47) per month, including utilities. During the dry season, the apartment would heat up like an oven, and the putrid smell from a nearby garbage dump would waft through the windows. "If you closed the door, you could hardly breathe. If you opened the door, you still couldn’t breathe because of the horrible smell," she shared. Things were not much better in the … [Read more...] about Young Vietnamese turn to mortgages, installment plans to secure dream homes

More than 300 participants took place in the Vietnam Industrial Property Forum 2022 Deputy minister of Planning and Investment Tran Duy Dong at the forum Deputy minister of Planning and Investment Tran Duy Dong Vietnam has been preparing the necessary conditions to receive a new wave of investment. The nation has put itself in a strong position to become an important global production base by continuing to perfect its institutions and policies and giving priority to projects that use modern and environmentally friendly technologies. Industrial parks and economic zones have improved their infrastructure to reach international standards. Pilot studies on a number of industry-specialised clusters have been implemented to formulate production and supply networks, allowing them to participate more in global value chains. Since 2015, the Ministry of Planning and Investment has coordinated with the United Nations Industrial Development Organization and a number of … [Read more...] about Smoothing The Path For Capital Inflows

The sell-off in the Vietnamese stock markets has been consistent with what has been occurring in global markets. — Photo vov.vn The sell-off in the Vietnamese stock markets has been consistent with what has been occurring in global markets, though selling pressure was exacerbated by many new retail investors dealing with margin calls for the first time and a crackdown on firms that borrowed money to buy stocks. None of this is however likely to have much impact on Viet Nam’s economic growth or on the aggregate earnings of listed companies, Michael Kokalari, VinaCapital’s chief economist, assured. “In Q1 earnings surged by around 30 per cent year-on-year, and we expect the earnings of all of the companies listed on the Ha Noi and HCM stock exchanges to surge by nearly 30 per cent this year.” Viet Nam’s benchmark VN-Index sold off 11 per cent last week and was down 21 per cent in the year to date at the end of last week after being nearly flat until March end, he said. … [Read more...] about Why the stock market sell-off when VN’s economy is strong?

Đỗ Văn Chiến, President of the Vietnam Fatherland Front (VFF) Central Committee, at the meeting of the third plenary session of the 15th-tenure National Assembly in Hà Nội Monday morning. — Photo baochinhphu.vn HÀ NỘI — Presenting a report at the third plenary session of the 15th-tenure National Assembly in Hà Nội on Monday, President of the Vietnam Fatherland Front (VFF) Central Committee Đỗ Văn Chiến listed a number of hot-button issues raised by voters. Many were concerned about recent instances of stock market manipulation and issues with the corporate bond market, as well as education and individuals who take advantage of pandemic-related policies. These were among the issues raised and recommended to the National Assembly (NA) and relevant agencies, said Đỗ Văn Chiến. Presenting the report on the ideas and recommendations sent to the third session yesterday morning, Chiến said voters and people had expressed a consensus and highly appreciated the effective leadership of … [Read more...] about Voters raise concerns over social issues: VFF President