Demand for industrial, logistics estates at core of enquiries next year: Savills Demand for industrial and logistics estates in addition to ready-built factories and warehouses will continue to be the core of enquiries next year, according to an expert from property consultancy Savills Vietnam. “However, in terms of new trends, data centres and cold storage facilities are in demand and have gained traction in 2020 and 2021,” John Campbell, manager of Industrial Services at Savills Vietnam told the Vietnam Investment Review. “Next year, we expect this to continue, as Vietnam is now on the radar for hyperscale facilities.” Low-value industries are beginning to set up elsewhere in Southeast Asia as Vietnam no longer offers the same incentives, he said, adding that these industries such as textiles and furniture struggle to source affordable labour and land in Vietnam. However, foreign and high value-added investors remain bullish on Vietnam’s long-term growth, … [Read more...] about VIETNAM BUSINESS NEWS NOVEMBER 23
Stable exchange rate
Vietjet signs 150-million-USD deal with Swiss MRO service provider
Representatives of Vietjet and SR Technics exchanged the signed MoU under the witness of Vietnam President Nguyen Xuan Phuc (sitting, left) and Swiss President Guy Parmelin (sitting, right). (Photo courtesy of Vietjet) Bern (VNA) - Vietjet and SR Technics, a world leading maintenance, repair and overhaul (MRO) service provider, on November 26 inked a Memorandum of Understanding (MoU) worth 150 million USD involving the provision of MRO services on Vietjet’s CFM56-5B engine fleet, installed on their Airbus A320 and A321 aircraft. The signing ceremonies in Bern, Switzerland, were witnessed by Vietnamese President Nguyen Xuan Phuc, President of the Swiss Confederation Guy Parmelin, high-ranking officials and business representatives of both countries during the Vietnamese leader’s official visit to Switzerland. Under the MoU, the work on the engines will be carried out at SR Technics' world-renowned facilities at Zurich Airport in Switzerland and in Vietnam. The MoU also … [Read more...] about Vietjet signs 150-million-USD deal with Swiss MRO service provider
Sojitz, Vinamilk to invest in $500-million beef project in Vietnam
The project is expected to lay a solid foundation for new development of the livestock industry in Vietnam in the coming years. Vietnam Dairy Products (Vinamilk) and its member company Vietnam Livestock Corporation (Vilico) signed a Memorandum of Understanding (MoU) with Japan’s Sojitz Corporation and the People's Committee of Vinh Phuc Province on a US$500-million beef project in Vietnam. An overview of the signing ceremony. Photo: Vinamilk The exchange between the parties took place at Vietnam-Japan Investment Promotion Conference with Prime Minister Pham Minh Chinh’s attendance on his official visit to Japan. It demonstrates the robust growth of trade cooperation between the two countries in animal husbandry which both countries have strengths. The MoU establishes a joint venture for beef production-processing-distribution in Vietnam and for export. In the next phase of cooperation, the joint venture will develop other protein-based products with deep … [Read more...] about Sojitz, Vinamilk to invest in $500-million beef project in Vietnam
Foreign investors’ net selling surge offset by domestic cash flow
The strong domestic cash flow flooding the stock market has spurred the indices Net withdrawals of over VND40 trillion Foreign investors net sold about VND18.9 trillion in 2020, including VND17.723 trillion on the Ho Chi Minh Stock Exchange (HoSE). They also net sold over VND40 trillion of shares in the first nine months of the year. The HoSE saw an additional net selling of VND4.704 trillion in October. According to the SSI Securities Corporation (SSI), exchange-traded funds (ETFs) have seen net withdrawals over the past two years. More than VND2.3 trillion were withdrawn from the market in September, of which FTSE saw the strongest withdrawal with VND1.275 trillion, followed by VNDiamond ETF with VND990 billion, Fubon with VND153 billion, and V.N.M ETF with VND22 billion. The net selling was attributed to the impact of Covid-19 and profit-taking on portfolios disbursed in 2019 and 2020 after stock prices surged. Although foreign investors net sell on the stock market, … [Read more...] about Foreign investors’ net selling surge offset by domestic cash flow
