Second home properties are not the aim of investors only, but for end-users wishing for a new style of living and working. Photo: SUN GROUP “The market post-pandemic should be very interesting with 80 per cent of buyers now keeping their cash in pocket and ready for new transactions. The rest are looking to re-sell their products to balance their finances because they could not afford the interest anymore after the long social distancing measures,” Quang said. Developers are now driving their portfolios to satellite cities with hundred-hectare projects to develop high-end urban development areas with many value-added services. Customers, therefore, are also turning their interest to those projects when investment in the inner city areas is challenging because of limited projects. According to Quang, with profit from investment in central areas of Ho Chi Minh City at 15 per cent per year, investors can expect as much as 30 per cent in satellite cities. “This explains why many … [Read more...] about Virtual solutions leading snazzy new property era
What do first time home buyers need
At the talks “Why Vietnam” held recently by the Ministry of Information and Communications, experts affirmed the significant role and position of Vietnam in the technology industry as well as global supply chains. This was an event on the sidelines of the ITU Digital World 2021 hosted by Vietnam. At the talks, the story about Vietnam's role and position in the digital era, the digital transformation process and Vietnam's post-pandemic steps attracted the attention of domestic and international managers, experts and businesses. At the "Why Vietnam?" talks held by the Ministry of Information and Communications in Hanoi. Photo: Trong Dat Many people still think that Vietnam is a small country but from the perspective of IT-communication industry development, where is Vietnam on the world map? Nguyen Thanh Tuyen, Deputy Director of Information Technology Department of the Ministry of Information and Communications: There are many countries in the world … [Read more...] about Where is Vietnam in the technology industry and global supply chain?
Revenue to state budget increases over 10 percent The revenue to the state budget in the first 9 months of this year amounted to 1,084.7 trillion VND, representing 80.75 percent of the projection and an increase of 10.75 percent over the figure recorded in the same period last year, according to the Finance Ministry. Meanwhile, the expenditure from the state coffer was estimated at 116.3 trillion VND, with the fight against the COVID-19 pandemic being prioritised. By the end of September, 29.1 trillion VND from the state budget was spend on the fight and support to those adversely affected by the pandemic. Despite the serious impacts of the pandemic, the revenue still increased year on year thanks to the economic growth momentum in the last month of last year, the ministry said. For the rest of the year, the ministry will continue accelerating administrative procedure reforms on taxation, simplifying business conditions, and joining other forces in fighting … [Read more...] about VIETNAM BUSINESS NEWS OCTOBER 16
Keynote speakers at the Ho Chi Minh City portion of VIR’s latest M&A seminar. Photo: Le Toan According to Phan Duc Hieu, permanent member of the National Assembly Economic Committee, Vietnamese acquirers accounted for only 18 per cent in 2018, but that rate in the following two years surged to 30 per cent – and in the first quarter of 2021, around 49 per cent of buyers were Vietnamese enterprises. “Last year, there were some rumours around proposals to halt merger and acquisition (M&A) deals involving foreign buyers to protect domestic companies from being acquired cheaply. However, the figures show an increasing trend of Vietnamese companies acquiring other domestic peers. This clearly illustrates a significant rise of cash-rich home players,” Hieu explained at a virtual M&A seminar last week hosted by Vietnam Investment Review. Particularly, Hieu noted, horizontal M&As in the same industry account for 45 per cent of recent deals, while nearly 20 per cent are … [Read more...] about Cash-rich domestic players making waves in M&A arena
Trade surplus expected to soar sharply in the last months of the year The trade surplus is expected to soar sharply in the last months of the year The General Department of Customs has just released its report on Vietnam's imports and exports in the second half of September. Accordingly, the total import-export value reached $29.07 billion, up 17.9 per cent (equalling $4.42 billion) over the first half of the month. This outcome has boosted the total import-export turnover in the first nine months of 2021 to $483.82 billion (up 24.6 per cent on-year, equivalent to $95.39 billion). In the second half of September, trade surplus was $1.87 billion, contributing to reducing the trade deficit to $2.55 billion in the first nine months. Of this, total import-export turnover of the foreign-invested enterprises (FIEs) was $335.85 billion, an increase of 28 per cent on-year (equalling $73.48 billion); total value of local firms was $147.97 billion, a rise of 17.4 per … [Read more...] about VIETNAM BUSINESS NEWS OCTOBER 19
Realtors with strong financial capability are collecting land for large projects in the future. While production activities became stagnant during the pandemic, the real estate market remains warm with many merger and acquisition (M&A) deals. The best known M&A deals in Q2 included ones in which Phat Dat Real Estate Development acquired 99.5 percent of shares of Binh Duong Building Real Estate Investment and Development for the Binh Duong Tower project; Thaco took over E-Mart Vietnam; and a deal between Becamex IDC and Central Retail Vietnam to develop GO! shopping center in Binh Duong. Masterise Homes, a subsidiary of Masterise Group, has bought two land plots with the total area of 7.1 hectares at Vinhomes Grand Park project (district 9) from a subsidiary of Vinhomes. In the northern market, the business acquired six apartment buildings at Vinhomes Ocean Park Gia Lam and developed into Masteri Waterfront project. Also, Masterise Homes is developing Masteri West … [Read more...] about Realtors spend trillions of dong to buy land during pandemic