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Real estate prices in Ho Chi Minh City skyrocketed during the second quarter of this year to hit record highs, with some villas in the city currently on sale for VND700 billion (US$30 million), according to statements given at a conference on Tuesday. At the 'Money Flow and Real Estate Trends in Late 2022' conference hosted by Cafeland , a real estate website, Vo Huynh Tuan Kiet, director of housing project marketing at CBRE Vietnam, shared that houses and villas in urban areas in the east of the city are currently on the market for prices ranging from VND200 million ($8,580) to $400 million ($17,200) per square meter. Regarding housing supply, Kiet said that the number of available apartments in Ho Chi Minh City soared to 12,000, up from about 1,000 in the first quarter of this year. The supply in the second quarter is nearly equal to that in the third quarter of 2019, a sign that the market is making a serious comeback. These apartments, however, are primarily high-end and … [Read more...] about Housing prices in Ho Chi Minh City hit record highs

Tokopedia's success lesson Founded in 2009, Tokopedia is one of Indonesia's tech unicorns. According to CB Insights (U.S.), Tokopedia's value reached $7 billion as of June 2020, becoming the third largest unicorn in Southeast Asia, behind Grab (Singapore) and Gojek (Indonesia). Tokopedia was developed as a shopping platform where any business could easily arrange and sell its products. William Tanuwijaya, co-founder of Tokopedia, said that the company's business model is similar to Alibaba's as it combines Toko (shop) and encyclopedia. In 2018, Tokopedia launched the Mitra Tokopedia app for warungs - small family-owned businesses that usually cater to a neighborhood. Mitra Tokopedia has recorded one million downloads in the island nation that has two million warungs. Tokopedia has been successful in bringing technology into Indonesia's grocery stores. Photo by Tokopedia Mitra Tokopedia has gained popularity and is now present in more than 20 major cities, … [Read more...] about VinShop aims for success as store connection platform

Vietnam has posted GDP growth of 7.72% in Q2 this year. (Photo: VNA) Hong Kong (VNA) – The Lianhe Zaobao daily in Hong Kong, China, on June 30 ran an article highlighting Vietnam’s impressive economic growth of 7.72% in the second quarter. It wrote that with export and consumption recovery, the Vietnamese economy rebounded strongly in Q2, with gross domestic product (GDP) increasing 7.72% year on year – the fastest pace in almost 11 years. This is expected to boost the GDP growth in the first half of 2022 to 6.42% from a year earlier, beyond the Government’s 5.5% expectation. The country recorded a growth rate of only 2.04% in the same period last year. Unveiling the statistics on June 29, the General Statistics Office (GSO) of Vietnam stressed that compared to other ASEAN members and countries in the world, this is a relatively high growth rate, and that the country has also maintained macro-economic stability, according to Lianhe Zaobao. The article noted … [Read more...] about Hong Kong daily spotlights Vietnam’s impressive growth

Party General Secretary Nguyen Phu Trong addresses the national conference held in Hanoi on June 30. (Photo: VNA) Hanoi (VNA) – Party General Secretary Nguyen Phu Trong on June 30 stressed the task of addressing shortcomings and filling in “vaccums” and “loopholes” so as to prevent corruption and negative phenomena. Speaking at a national conference held in Hanoi to review the 10-year combat against corruption and negative phenomena, the Party leader also said fighting corruption is a critically important but also extremely difficult and complicated task that requires resolute, persistent, continuous, and unceasing efforts from all levels and in all sectors and areas. He emphasised that in the combat, it is a must to steer clear of subjectivity and hastiness but adamantly deal with corruption, patiently conduct education, management and deterrence to prevent corruption, while staying vigilant and fighting against hostile forces’ plots that take advantage of the … [Read more...] about Vacuums, loopholes must be filled in to prevent corruption: Party leader

COVID-19 vaccination (Photo: VNA) Hanoi (VNA) - There were an additional 637 new COVID-19 infections recorded across Vietnam on June 27 with no deaths. The new figure brought the total number of cases in the country to 10,744,085. All of the new transmissions were domestic. The capital city of Hanoi again topped the country with 188 new cases. It was followed by northern Hai Phong and central Da Nang cities, which reported 64 and 62 infections, respectively. A further 6,653 patients were given the all-clear, taking the total number of recoveries to 9,656,467. More than 229.8 million shots of COVID-19 vaccines have been administered across the country to date./. VNA … [Read more...] about Vietnam reports 637 new COVID-19 cases on June 27

A tropical depression in the East Vietnam Sea developed into a storm on Thursday morning, marking the first tropical storm to hit the Southeast Asian country this year. The storm, named Chaba, was located 400 kilometers east of Vietnam's Hoang Sa (Paracel) archipelago at 10:00 am on Thursday, according to the National Center for Hydro-meteorological Forecasting. The average wind speed was recorded at 62-74km per hour, and gusts were up to 100km an hour. Storm Chaba is expected to travel northwest in the next 48 hours. As of 10:00 am on Saturday, the storm will be situated 120 kilometers northeast of China’s Hainan Island, packing winds at 62-88km per hour. Due to the influence of the storm, rough seas, strong winds, and waves as high as three to five meters will occur in the northern part of the East Vietnam Sea. The border guard command reported on Thursday morning that it had warned nearly 60,000 ships of the storm. The National Steering Committee for Natural Disaster … [Read more...] about East Vietnam Sea hit by first tropical storm of 2022