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Guildwood estates real estate for sale

Unable to cover expenses during Covid-19, owners sell hotels at cheap prices

February 26, 2021 by vietnamnet.vn

Many offers to sell coastal hotels in Da Nang have appeared on real estate forums these days. Most of them are located in districts Son Tra and Ngu Hanh Son.

Unable to cover expenses during Covid-19, owners sell hotels at cheap prices

A hotel put up on sale

On just one real estate website on February 22 many ads were listed.

A 4-star hotel on Vo Nguyen Giap street, 600 square meters, with 19 stories, 125 rooms and 2 conference rooms is offered at VND440 billion.

Hotels on the major streets of Ha Bong, Tran Bach Dang, Ho Nghinh, Vo Nguyen Giap and Ho Xuan Huong are offered at tens or hundreds of billions of dong.

Hoang Lam, the owner of a hotel on Tran Bach Dang street, said accommodation service providers have been hit hard by Covid-19.

“We have been struggling to survive by cutting costs. However, as capital is getting exhausted, hotel owners have to liquidate assets to pay bank debts,” he said.

“Selling hotels is unavoidable as there is no source of revenue, and the operation cost is high,” he said.

Do Van Hien from Dana Hotel, a broker, said a lot of hotels in Da Nang have been put up for sale since the second Covid-19 outbreak.

“The hotels for sale are 2-4-star. The prices have fallen by 20 percent and buyers are mostly from northern provinces,” Hien said.

According to Hien, 3-star hotels are priced at VND20-100 billion, while 4-star hotels are at least VND280 billion. The value of hotels depends on the locations, area, quality, numbers of rooms and brands.

The transactions of 4-5-star hotels, which have strong brands, are confidential. Hotel owners only work with prestigious brokers, and buyers have to prove their financial capability.

Hien said no one wanted to sell hotels in 2016-2019 because they could make a high profit from the business. But since 2020, guests are coming in dribs and drabs, and operation costs and loan interest rates are high.

Cao Tri Dung, chair of the Da Nang Tourism Association, admitted that tourism services have become nearly frozen and many hotels have been put up on sale.

“The pandemic resurgence before Tet blocked sources of guests. Ninety percent of clients cancelled or postponed plans to come to Da Nang,” he said.

He said this is common in a market economy, and that it is time to restructure the accommodation segment.

According to Da Nang People’s Committee, the total number of guests staying at accommodation facilities in the city in January 2021 was 251,094, a 65.6 percent decrease compared with the same period last year.

Ho Giap

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Mutual merit in Australian investment

February 26, 2021 by www.vir.com.vn

1532 p4 mutual merit in australian investment
Dr. Craig Emerson, director of the Australian APEC Study Centre

Vietnam’s success in containing COVID-19 with minimal economic fallout compared to other nations has improved its already-strong reputation for competent governance. The government has been liberalising Vietnam’s economy for decades and is now reaping the benefits of rapid growth.

Vietnam has stood to gain from the recent US-China trade conflict with many companies relocating at least some of their production facilities there. Vietnam is also rapidly adopting digital technologies to deploy automation, smart manufacturing, and big data analytics. Competent economic management, consistent reforms, swift digital uptake, and effective COVID-19 containment make Vietnam a very attractive destination for trade and investment in 2021 and beyond.

Economically, Vietnam is becoming a manufacturing powerhouse, particularly for electronics and apparel. It is also becoming a focal point for regional value chains with preferential access through free trade agreements (FTAs).

It has taken up trade deal commitments and accepted assistance to develop the institutional and regulatory environment, infrastructure, and facilitation to attract investment. The country is also actively working on non-tariff barriers to trade including intellectual property protection, food safety regulations, restrictions on the internet and digital economy, and other governance issues to accelerate the absorption of investment.

Vietnam needs to be considered in terms of its unique qualities and context. It is following its own development path in a new time, with different conditions, drivers, and realities. Comparisons can be made to Japan with its appreciation of tradition; to Singapore with its open trade policies and architecture; China’s southern Guangdong province in population scale and economic activity; and Indonesia in terms of benefits from a demographic dividend.

Vietnam has a web of FTAs that make it a strategic location for foreign investment as it offers preferential access to several markets. Vietnam continues to attract high levels of such funding from Japan, South Korea, Singapore, China, the United States, and other countries.

Vietnam maintains an ASEAN-first policy but is drawing attention from global investors, particularly due to its economic growth despite COVID-19 and attracted projects from more than 100 countries into its industrial zones during 2020.

1532 p4 mutual merit in australian investment
Enterprises from Australia are being encouraged to look into new business prospects in Asia. Photo: Le Tien

Approaching the market

The drivers of growth in Vietnam create attractive conditions and opportunities for Australian business in the post-pandemic environment. There is scope for manufacturing, agriculture, resources, and services businesses to expand engagement with Vietnam, now and into the medium term. The country’s rapid evolution will continue creating further chances as the economy and consumption mature.

There can be an increase in trade in goods where Australia has proven export capacity and readiness to meet demand in Vietnam. There are also possible increases in the value-added contribution of Australian content in Vietnam’s exports of manufactured products.

In addition, there are prospects to increase services trade in existing and new areas, particularly around education, healthcare, insurance, and environmental services. Both governments have prioritised these sectors under the expanding bilateral economic framework. Investment opportunities exist across the manufacturing, agriculture, services, and resources sectors and there are also those in relation to Vietnam’s digital transformation.

Globally, Vietnam is a major exporter of electronic equipment, apparel, and footwear. In terms of the Vietnam-Australia bilateral relationship, there are prospects for expanding Australian exports of beef, wheat and barley, cotton, horticultural products and processed food. There is also scope to expand exports of services in the education, ICT, mining technology, insurance, and environmental and healthcare sectors.

Australian businesses should also be aware of new prospects emerging in relation to Vietnam’s digital transformation and efforts to modernise economic activity through automation, AI, the Internet of Things, and big data.

Vietnam’s top merchandise imports from Australia are coal, iron ore, cotton, live animals, scrap iron, wheat, aluminium, copper, zinc, fruit, and nuts. The proportion of raw materials in the trade flows has steadily increased this century and now represents around half of all Australian merchandise exports.

Trade opportunities for Australia are supported by policy settings in Vietnam that are generally encouraging of foreign investment to advance the country’s position as a major regional trader. Australia’s exports show that businesses are already participating in value chains to which Vietnam belongs.

When semi-processed metals and fibre are shipped from Australia, it is likely they are being sourced by Vietnamese factories as inputs for final products, many of which are exported again for sale.

Vietnam is a promising market for company investment as a densely populated, developing, and urbanising country which is transitioning to an industrial and market-based economy through trade and investment and making great strides to position itself for Industry 4.0. Australia is currently a relatively small investor, but stock has doubled since 2015 and is growing faster than Australian investment into other ASEAN economies.

Most of Australia’s investment in Vietnam is in manufacturing (47 per cent) with lower levels in hospitality (8 per cent), construction/real estate (7 per cent), agribusiness (6 per cent), and healthcare (6 per cent).

Vietnam has historically had some state-owned enterprises (SOEs) with monopolies in particular sectors, some of which continue to operate. Under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Vietnam has committed to providing member countries with a level playing field for their companies competing with SOEs and ensuring any state-designated monopolies do not abuse their market power. Vietnam has also introduced legislation to equitise and divest SOEs and monopolies and ensure that they are offered only limited state preferences.

The CPTPP provides preferential access for Australian businesses to invest in Vietnam. It has the most liberal conditions for any foreign investors in Vietnam and these conditions are also available to other CPTPP members, including two of Vietnam’s largest investors, Japan and Singapore.

Australian movement

Australian businesses are being urged to expand engagement with Asia to capitalise on economic complementarities, diversify supply chains, and benefit from regional growth and integration. As an advanced and globally connected economy in the region, Australia is well placed to benefit from engagement with neighbouring Asian economies to build trade, investment, and innovation networks.

Even before the pandemic, heightened geopolitical tensions in the region driven by a more competitive relationship between the United States and China had highlighted the need for Australia to have a broad and diverse network of trading partners. Many companies in the US and Australia began to adopt a China+1 strategy, with Vietnam emerging as a preferred option.

As the pandemic struck and brought many supply chains to a standstill, first in China and then around the world, businesses and governments soon became painfully aware of their exposure to policy changes overseas. In some cases, this led to calls in Australia to re-shore supply chains, especially for essential medical supplies. More generally, although trade with Vietnam and other economies will not replace trade with China, it may help build resilience.

Australia is generally well-regarded in Vietnam. It is a considered a high-income, advanced economy with much to offer in terms of technology, managerial know-how, and skills. Brand Australia has a strong reputation for being high-quality, safe, and reliable. Exports of goods such as baby products, food, vitamins, and supplements are testament to this reputation.

As the business culture in Vietnam is strongly governed by relationships, Australian businesses should draw on the thriving Australia-Vietnam ecosystem already in place. Onshore and offshore resources are available from national and state governments, industry bodies, academia, students, alumni, diaspora, and locals. The insights and connections of Vietnamese diaspora in Australia, Australian expatriates in Vietnam, and Australian-educated Vietnamese students and graduates will prove invaluable to prospective businesses.

There are a lot of economic complementarities underpinning trade and investment between Australia and Vietnam, as well as traded sectors with the most potential for growth. Besides these, numerous opportunities are arising from the rapid digital transformation of both economies with the adoption of smart manufacturing, digital technologies, and data analytics.

Both governments are equally open about their support for a rules-based security and economic order in Asia, continued trade liberalisation and the centrality of ASEAN in maintaining regional stability.

There has been no better time for Australian businesses to engage in Vietnam. Despite pandemic-related challenges, its economy grew by nearly 3 per cent in 2020 while many of its regional peers, including Australia, fell into recession. Opportunities will continue to unfold for Australian businesses which are willing to engage and adapt to local market conditions, cultural realities, and leverage Australia’s unique assets in the burgeoning eco-system.

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Local firms keen on purchase of COVID-19 vaccines

February 26, 2021 by vov.vn

Coteccons Construction Joint Stock Company and the Bank for Investment and Development of Vietnam have already registered to purchase tens of thousands of doses which would be distributed among their employees and family members, according to a reports thanhnien.vn.

Dat Xanh Group, a real estate developer, has also announced plans to fund inoculations for over 7,300 employees working at 68 of its affiliates nationwide.

Furthermore, Phu Nhuan Jewelry, one of the country’s leading gold and gem stone firms, has agreed to purchase COVID-19 vaccines for staff members. It has also raised a total of VND270 million in support of the free vaccination campaign for groups of underprivileged people in society, including the poor.

Meanwhile, the Canada International School Vietnam has also decided to allocate a fund of VND3 billion for its immunisation campaign in an effort to vaccinate its teachers and staff, as well as the parents of students, providing the conditions allow.

Despite this initial interest, the Vietnam Vaccine Joint Stock Company (VNVC), the only agency assigned by the Ministry of Health to receive, preserve, and distribute COVID-19 vaccines domestically, has said due to limited supplies, imported vaccines will be available for priority groups first. Specifically, frontline healthcare workers would be at the head of the queue.

Vaccination inoculations will be regulated by the Government, according to a VNVC representative.

Vietnam imported its first batch of more than 117,000 doses of the AstraZeneca vaccine on February 24.

The Ministry of Health (MoH) subsequently published a list of 11 groups of people that will benefit from the vaccination campaign, with priority to be given to frontline healthcare workers, soldiers, border forces, policemen, and those on duty in isolation areas and quarantine facilities.

The MoH is currently considering licensing two additional COVID-19 vaccines produced by Moderna of the United States and Generium of Russia.

Minister of Health Nguyen Thanh Long said the country requires at least 150 million doses of COVID-19 vaccines which can be used to inoculate citizens this year. However, he confirmed the MoH is likely to get only 90 million doses in 2021.

Along with the import of 60 million doses of the AstraZeneca vaccine agreed with AstraZeneca and COVAX, Vietnam is in the midst of negotiating to import a further 30 million doses of the Pfizer vaccine of the US, said Long

Four Vietnamese research institutes and companies are now researching and developing COVID-19 vaccines, with two locally-produced vaccines, Nano Covax and Vovivac, carrying out human clinical trials.

During a recent Cabinet meeting, Prime Minister Nguyen Xuan Phuc requested the MoH and relevant agencies to speed up the national vaccination campaign , considering this to be key to slowing the spread of the virus among the community.

“Our strategy is to vaccinate approximately 100 million Vietnamese people,” PM Phuc said.

Due to limited supplies of COVID-19 vaccines, the country has yet to launch paid immunisation services, said Associate Professor Tran Dac Phu, former director of the National Preventive Medicine Department and currently a senior member of National Steering Committee on COVID-19 Prevention and Control.

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VN market stays positive amid regional downturn

February 27, 2021 by vietnamnews.vn

A worker of steel company Hoà Phát Group (HPG). Shares of HPG rose 3.3 per cent on Friday. VNA/VNS Photo

HÀ NỘI — Vietnamese shares stayed positive on Friday on the back of strong buying demand, contrasting the downturn of regional stock markets.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange gained 0.26 per cent to close at 1,168.47 points.

It had gained 0.29 per cent to close Thursday at 1,165.43 points.

More than 554.5 million shares were traded on the southern bourse, worth VNĐ14.9 trillion (US$642.3 million).

Market breadth was neutral with 216 gainers and 209 losers.

The recent sharp increase in US Treasury bond yields had a negative impact on Asian stock markets, causing many indices to fall deeply, said financial news site cafef.vn .

The Japan’s Nikkei 225 lost 3.99 per cent on Friday, South Korea’s Kospi was down 2.8 per cent, Shanghai Composite declined 2.12 per cent and Hong Kong’s Hangseng Index dropped 3.64 per cent.

Vietnamese stock market also suffered strong selling pressure in the opening minutes on Friday as it decreased by 17 points. However, the strong bottom-fishing demand from domestic investors helped the VN-Index recover dramatically toward the end of the trading session.

The large-cap tracker VN30-Index gained 0.32 per cent to stay at 1,173.60 points.

Fourteen of the 30 large-cap stocks in the VN30 basket increased while 14 lost ground. Two stayed unchanged.

Notable gainers included steel maker Hoà Phát Group (HPG) with a large gain of more than 3 per cent.

Bank for Investment and Development of Vietnam (BID), Military Bank (MBB), Phát Đạt  Real Estate Development Joint Stock Company (PDR), Phú Nhuận Jewelry (PNJ) and VPBank (VPB) all climbed more than 1 per cent.

On the other side, Vincom Retail (VRE), Khang Điền House (KDH), HDBank (HDB), Vinhomes (VHM) and Thành Thành Công Biên Hoà JSC (SBT) were the stocks that maintained the downtrend of more than 1 per cent decrease.

On the Hà Nội Stock Exchange, the HNX-Index rallied 1.23 per cent to end Friday at 249.22 points.

The northern market index had rallied 3.49 per cent to end Thursday at 246.20 points.

More than 123.3 million shares were traded on the northern market, worth VNĐ2.1 trillion.

“VN-Index remained in downtrend in most of the trading time, but MSCI’s increasing the proportion of Vietnamese stocks in its portfolio helped the index gain at the end of the session,” said BIDV Securities Co.

“Foreign investors continued to be net sellers on the HSX and net buyers on the HNX. Market breadth turned to equilibrium with increased liquidity compared to the previous session.

“According to our assessment, VN-Index is likely to continue fluctuating in the first week of March,” it said.

Foreign investors net sold VNĐ472.77 billion on HOSE, including Vinamilk (VNM) (VNĐ137.1 billion), Vincom Retail (VRE) (VNĐ75.4 billion) and Đất Xanh Group (DXG) (VNĐ46.1 billion). Foreigners were net buyers on the HNX with a value of VNĐ25.18 billion. — VNS

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Vietnam lures US$5.46 billion in foreign investment

February 26, 2021 by sggpnews.org.vn

As many as 126 foreign projects were granted investment licenses with total registered capital of $3.31 billion, a year-on-year fall of 33.9 percent.

Meanwhile, 115 existing projects adjusted their investment capital with a total additional sum of $1.61 billion, or 2.5 times higher than the same time last year.

Capital contributions and shares purchases by foreign investors stood at $543.1 million, down 34.4 percent.

Foreign investors pumped capital in 17 sectors, with processing and manufacturing holding the lead with over $3 billion or 55.7 percent, followed by power production and distribution with $1.44 billion (26.5 percent), real estate $485 million, and science-technology nearly $153 million.

Japan topped the list of 46 countries and territories landing investment in Vietnam, with $1.64 billion, equivalent to nearly 30 percent of the total. Singapore came second with $1.07 billion (19.6 percent), and the Republic of Korea third with $1.05 billion (19.3 percent).

The ministry said the southern province of Can Tho lured the lion’s share of FDI with $1.31 billion, accounting for 24.2 percent of the total. Hai Phong city was the runner-up since it attracted nearly $918 million, or 16.8 percent. Bac Giang came third with nearly $573 million (10.5 percent).

So far this year, the foreign-invested sector has earned $38.07 billion from exports, up 34 percent year-on-year, and making up 76.1 percent of the nation’s total export turnover. At the same time, it spent $31.6 billion on imports, up 31.2 percent year-on-year, and accounting for 66.6 percent of the country’s total import value. That resulted in a trade surplus of nearly $6.5 billion.

VNA

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Hi-tech investors flock to Đà Nẵng

February 27, 2021 by vietnamnews.vn

Representatives of Đà Nẵng present investment licences to seven investors at the Đà Nẵng Hi-Tech Park and Industrial Zones. More than US$280 million will be poured into the city’s IZ and Hi-tech Park. VNS Photo Quốc Dũng

ĐÀ NẴNG — Six investment licences and one investment proposal project at Đà Nẵng Hi-Tech Park and Industrial Zones worth more than US$280 million have been granted to domestic and foreign investors.

The Authority of Đà Nẵng’s industrial zones and high-tech park (DHPIZA) granted an investment proposal by Arevo Inc from the US for a 3D printer manufacture project at Đà Nẵng High-Tech Park with a total investment of US$135 million in a ceremony on Tuesday (February 23)

Head of the DHPIZA, Phạm Trường Sơn, said the project plans to produce composite and carbon fibre as well as software solutions and services for the 3D printing industry.

Arevo, based in Silicon Valley, is pioneering composite production through digitalisation and automation, and the world’s first high speed additive manufacturing system capable of creating sizable, continuous carbon fibre composite structures on demand.

Six investors, including three foreign direct investment (FDI) firms, were given licences for their projects at the Hi-Tech Park and other industrial zones.

United States Enterprises from Silicon Valley in the US will invest US$110million in a semiconductor project at the High-Tech Park, and it will commence construction of the first phase in the second quarter of 2021 to become operational in 2023.

It will focus on machining and fabrication specialists for quartz, ceramic and silicon and other materials such as aluminum oxide, mono and poly-crystalline silicon and sapphire.

The Đà Nẵng Sunshine Aerospace plant of the Universal Alloy Corporation (UAC) from the US is prepared for operation soon at the Đà Nẵng Hi-Tech Park. The plant was invested by UAC with total US$170 million. VNS Photo Công Thành

Two Japanese investors – Fujikin International Incorporated and EPE Packing Việt Nam – also received investment licences with total investment of more than US$35 million on Tuesday.

The city presented investment licences to three other domestic investors at Hòa Khánh Industrial Zone and Expanded Hòa Khánh IZ worth VNĐ73.4 billion ($3.2 million).

Vice chairman of the city’s people’s committee, Hồ Kỳ Minh said Đà Nẵng had been calling for investors from Silicon Valley and the US in healthcare, high-tech industries, artificial intelligence (AI), education, real estate and automation at the Hi-tech Park and Information Technology Park.

Hatsuta, a company from Japan completes its factory at the Đà Nẵng Hi-Tech Park for production. The park has attracted many investors from the US and Japan — the two major export markets of the city. VNS Photo Công Thành

The Government officially approved the Đà Nẵng supportive industries zone covering 58.5ha at the Hi-tech Park serving hi-tech domestic and foreign investors in the near future.

According to DHPIZA, the Hi-Tech Park alone has drawn 24 projects, of which 12 were FDI projects, worth total $545 million and VNĐ6.3 trillion ($274 million), respectively.

Six IZs and the hi-tech park have drawn 365 domestic projects worth VNĐ26.56 trillion ($1.15 billion) and 131 FDI projects worth $1.74 billion.

The Hi-Tech Park has been designed as a ‘green’ and hi-tech hub for investors, while Information Technology Park is planned as Việt Nam’s ‘Silicon Valley’. — VNS

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