A relative newcomer to the market, condotels need much clearer regulations to ensure transparency and safety for buyers and developers alike, Photo: Le Toan Nguyen Hoang Linh, a 45-year-old man from Ho Chi Minh City, was considering buying a condotel unit at Ocean Vista, a condotel project in the central province of Binh Thuan. According to the project’s developer Rang Dong Group, with 300 days in use every year, the project can have 35-50 per cent room occupancy with the rental rate of $200 per day. “Apart from reserving 20 days per year for my own use, I can have stable rental income around the year, and this profit rate can return owners’ capital in 10 years. I think this is attractive enough for me,” Linh said. Due to their good profit commitments, condotels have been very attractive for buyers in the last three years, with more and more capital being poured into the segment by domestic and foreign investors. Market observers said the tourism sector has … [Read more...] about Risks in fledgling condotel segment
High yield low risk investments
Spotlight: IMF lowers global growth forecast for 2019, warns of downside risks – Xinhua
GLOBAL GROWTH FORECASTS The 3.3 percent projection for 2019 is 0.3 percentage point below the 2018 figure, followed by an expected return to 3.6 percent in 2020. Growth rate projections for advanced economies are 1.8 percent for 2019 and 1.7 percent for 2020, both below the 2 percent-plus rates recorded in the previous two years, according to the WEO report. For emerging market and developing economies, the IMF predicted a growth rate down to 4.4 percent for 2019, 0.1 percentage point lower than in 2018, and that expansion will rebound to a rate of 4.8 percent in 2020, leveling the 2017 outcome. IMF chief economist Gita Gopinath wrote in a blog post that the projected slowdown in 2019 is "broad-based." "It reflects negative revisions for several major economies including the euro area, Latin America, the United States, the United Kingdom, Canada, and Australia," Gopinath said. The loss of growth momentum, said Gopinath, dates back to the second half of 2018, when the world economy was … [Read more...] about Spotlight: IMF lowers global growth forecast for 2019, warns of downside risks – Xinhua
Phu Tho pushes high-tech application in agricultural production
Harvesting tea leaves in Dich Qua commune, Thanh Son district, Phu Tho (Photo: VNA) Phu Tho (VNA) – The northern midland province of Phu Tho’s efforts to apply advanced technologies in agriculture have paid off, creating production areas with high quality and productivity. Based on its advantages in terms of convenient transport infrastructure and a favorable ecosystem, the province has worked to boost investments in agriculture. Within the past five years, it attracted 42 enterprises investing in animal husbandry, crop cultivation, fisheries, and animal feed processing. The mergence of land plots, which is being performed across 94 communes, has been utilised to lay the basis for the formation of large-scale high-tech farming zones. To date, concentrated plantations of rice, corn, and various fruits have been established in Phu Tho town, as well as the districts of Lam Thao, Tam Nong, Thanh Son, Thanh Ba, Ha Hoa, Thanh Thuy, and Doan Hung. In Tam … [Read more...] about Phu Tho pushes high-tech application in agricultural production
BUSINESS NEWS IN BRIEF 10/10
VinaCapital officially ends investment in poultry firm Ba Huan Ba Huan JSC, the country's leading pasteurized eggs and poultry meat producer, has decreased its charter capital from VND280 billion (US$12 million) to VND222 billion (US$9.53 million), effectively ending the involvement of VinaCapital, one of the two largest asset management firms in Vietnam, with the company. This results in an increase in the stake holding of domestic shareholders from 66.2% to 83.6%, of which Ba Huan's Director Pham Thi Huan owns 64%. In Feburary, VinaCapital`s flagship fund Vietnam Opportunity Fund (VOF) invested US$32.5 million to acquire a significant minority stake in Ba Huan. However, in early July, Ba Huan sought Prime Minister Nguyen Xuan Phuc's intervention in terminating its partnership with VinaCapital. The firm said there were differences between the English and Vietnamese versions of the agreement and the terms were not what the two parties had agreed initially. Among … [Read more...] about BUSINESS NEWS IN BRIEF 10/10
Developing new value for 30 years
Developing new value for 30 years, photo: shutterstock Mikio Masawaki-General director, Sapporo Vietnam Sapporo officially entered the Vietnamese market in 2011. At the beginning, we invested more than $50 million into building Long An Brewery to Japanese standards to ensure the quality of Sapporo products in Vietnam. Beside Japan, this is our first overseas brewery. Vietnam is one of the most interesting and dynamic beer markets in the world, with high potential growth supported by many beer lovers. With the mission, “Contribute to enriching Vietnamese cuisine,” Sapporo Vietnam offers consumers safe and high-quality beer products according to Japanese standards and also the best match to Vietnamese consumers’ taste. According to our Brand Health Research in 2018, our flagship brand – Sapporo Premium Beer – is trusted by nearly 100 per cent of target customers, and it is gradually becoming a unique brand in the premium beer segment. Sapporo Premium Beer … [Read more...] about Developing new value for 30 years