The lobby of OfficeHaus in Tan Phu District, HCM City. The city's office market recovers after two years being affected by COVID-19 pandemic. — Photo courtesy of OfficeHaus After a two-year slump due to COVID-19, the HCM City office for lease market is showing positive signs with demand increasing in all segments. A CBRE report said there was good recovery in the office market with total net absorption in the first quarter of 17,000 square metres (sq.m), equivalent to 32 per cent in 2021. Relocation accounted for 55 per cent of the transactions, lease renewal for 25 per cent and expansion for 20 per cent, it said. There were transactions for large areas in some high-quality grade B buildings in both the CBD and other hubs such as Thu Thiem new urban area, District 7 and District 10, the company said. Savills said demand for office space was 16,500sq.m compared to just 1,500sq.m in the fourth quarter of 2021. It partly attributed the increase to the city’s post-pandemic … [Read more...] about HCM City office market coming out of slump: property consultancies
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HCM City helicopter tours proposed
The HCM City Department of Tourism has proposed opening helicopter tours to see the city from above. Under the department’s recommendation sent to the municipal people’s committee, the helicopter service will operate until December with flights three days per week. Passengers on a helicopter tour in HCM City On the recent Reunification Day and May Day, the department co-operated with Military Hospital 175 and the Southern Vietnam Helicopter Company to pilot five helicopter tours carrying 80 passengers. More than 200 other passengers have also booked tours with HCM City’s travel firms. Many passengers expressed their interest in helicopter trips connecting HCM City and its districts of Can Gio and Cu Chi and the neighbouring province of Long And. However, helicopter services have to give way to civil flights. So the HCM City Department of Tourism is seeking municipal consideration to allow the Southern Vietnam Helicopter Company to run frequent helicopter tours … [Read more...] about HCM City helicopter tours proposed
Ministry tells HCM City to reconsider discriminatory customs fee
The vastly different seaport fees for businesses making their declaration in HCM City and elsewhere is causing frustration to many of them. — Photo vov.vn The Ministry of Finance has called on HCM City to reconsider its collection of customs declaration fee from businesses. It said the fee is discriminatory, citing complaints by import-export companies in Dong Nai Province that they have to pay double if they make declarations locally for goods they ship through HCM City. For goods declared in HCM City, the rates ranges from VND15,000 (US$0.65) to VND500,000, exactly half the rates of declarations made elsewhere. The ministry said the disparities have significant consequences for both enterprises and the economy. It urged the city People's Committee to soon ask the People's Council to amend the fees to create a level playing field for all businesses in accordance with the laws. Since April 1, the city has been collecting port infrastructure fees. For goods imported for … [Read more...] about Ministry tells HCM City to reconsider discriminatory customs fee
Room remains for boosting HCM City-Cuba cooperation
At the event (Photo: sggp.org.vn) Ho Chi Minh City (VNA) – Chairman of Ho Chi Minh City’s People’s Committee Phan Van Mai has promised to boost the relationship between Vietnam and Cuba at a reception on May 19 for Orlando Nicolas Hernandez Guillen, the new Cuban Ambassador to Vietnam. HCM City will offer 30-50 scholarships for Cuba students to visit and learn in the city each year as well as support the exchange of students between the two sides, the city official said. Mai suggested that the Cuban Ambassador pay attention to specific collaboration projects with the city in the fields of healthcare and teaching Spanish for the sake of cultural exchange. At present, Cuba is adopting many policies that can open up investment opportunities, he said, noting the hope that more businesses in HCM City take interest in investment in Cuba. The diplomat also invited HCM City businesses to attend the upcoming international conference held this November on the island. Guillen … [Read more...] about Room remains for boosting HCM City-Cuba cooperation
HCM City: Hot demand for air conditioners
Electronic goods shops and supermarkets in HCM City are offering big promotions on air conditioners, refrigerators and fans as hot temperatures have arrived earlier than usual this year. (Photo: VNA) HCM City (VNA) - Electronic goods shops and supermarkets in HCM City are offering big promotions on air conditioners , refrigerators and fans as the hot season approaches. Shops and supermarkets in HCM usually offer discounts of only 10 or 15 percent, but as the peak hot season is near, they are now discounting fans and air conditioners by 15 to 50 percent and offering free delivery and installation, as well as a zero percent interest rate on installment payments. A survey conducted at a number of large electronics stores such as Nguyen Kim and Thien Hoa found that demand for air conditioners and fans had skyrocketed with the onset of summer. Nguyen Trong Tuan, a representative of Nguyen Kim Electronic Appliance Centre, said the sales of air conditioners, refrigerators, … [Read more...] about HCM City: Hot demand for air conditioners
HCM City strengthens food quality control
People choose food products at a Saigon Co.op supermarket in HCM City. — VNA/VNS Photo To strengthen food safety, HCM City’s Food Safety and Hygiene Management Board will closely monitor foods sold by retailers to ensure customers buy products with clear origin. City authorities are also encouraging consumers to buy products with clear labels on origin. The board, the city Department of Industry and Trade, and supermarkets and convenience stores have been instructed to keep strict control over food quality. Pham Khanh Phong Lan, head of the board, said food production, processing, distribution, and import-export establishments would be closely monitored. "Consumers like to buy food at traditional markets because they may be cheaper" but some products lack clear origins, she said. "Upgrading food quality in traditional markets and enhancing modern distribution systems is essential." Enterprises must comply with food safety regulations, work with the board to carry out … [Read more...] about HCM City strengthens food quality control
HCM City has ambitious greenery plans for 2022
A park in downtown HCM City. The city plans to add at least 10ha of parks and 2ha of public green spaces, and plant or rehabilitate 6,000 trees this year to make the city greener and more beautiful. — Photo baodansinh.vn HCM CITY — HCM City plans to add at least 10 hectares of parks and two hectares of public green spaces, and plant or rehabilitate 6,000 trees this year to make the city greener and more beautiful. The People's Committee has instructed districts and Thủ Đức City to make plans for this and set specific targets. The city has also told them to quickly review and make a list of public lands that are zoned for green parks but leased out or used for other purposes, and report to the Department of Natural Resources and Environment. The city has a 10-year plan (2021-30) for increasing public parks and the green cover, under which it will add at least 150ha of public parks and 10ha of public green spaces by 2025. By 2030 there will be one square metre of park per … [Read more...] about HCM City has ambitious greenery plans for 2022
Inspectorate urges HCM City to speed up restructuring of SOEs
Rang Dong Light Source and Vacuum Flask JSC. — Photo courtesy of the firm HCM City needs to speed up equitisation to restructure state-owned enterprises and improve their efficiency, according to the Government Inspectorate. The equitisation of state companies is progressing at a tardy pace, a recent report by the inspectorate says. It also has shortcomings in terms of allocation of assets for equitisation, determination of enterprise value, determination of the ratio of state capital post-equitisation, and selection of strategic investors. According to the Ministry of Finance’s corporate finance department, many SOEs in the city are large and have complicated financial and land ownership structures, and so equitisation, especially evaluating their assets, is not easy. As of 2016 the city had 62 SOEs fully owned by the state, according to the Government Inspectorate. Phan Thi Thang, vice chairwoman of the city People’s Committee, has sought the HCM City Business … [Read more...] about Inspectorate urges HCM City to speed up restructuring of SOEs
HCM City wishes to see more investment activities from Austrian firms: official
At the event (Source: VNA) HCM City (VNA) – Ho Chi Minh City wants to see more investment promotion activities from Austrian enterprises to tap on the sides’ cooperation potential, said Vice Chairman of the municipal People’s Committee Vo Van Hoan while receiving a business delegation from Austria on May 16. Taking into account Austrian firms’ opinions, the city official stated that their concerns are also what the city is working to address and their recommended solutions should soon be studied for real-life implementation. Highlighting challenges facing the city in waste and wastewater treatment, Hoan hoped that Austria n enterprises with interest in the field to offer consultations and transfer technologies to the city, and invest in building treatment plans here. He said the firms can also share their experience and directly participate in the city’s smart city development projects. For his part, Austrian Ambassador to Vietnam Hans-Peter Glanzer, who led the … [Read more...] about HCM City wishes to see more investment activities from Austrian firms: official
South Korean and Japanese streets still quiet in HCM City
Many streets home to Japanese and South Korean restaurants and shops in HCM City are still quiet although the city has fully reopened after successfully containing the Covid-19 pandemic. A Japanese restaurant in District 1 While the Bui Vien Street in HCM City's District 1 which is a popular nightlife place for foreign tourists has quickly revived after local restaurants, bars and clubs were allowed to resume operation two months ago, some areas home to Japanese and South Korean communities in District 1 and District 7 remain quiet with many closed shops and restaurants. The Japanese area runs some 300 metres on Le Thanh Tong Street in District 1. Formed in the early 2000s with the openings of just a few Japanese restaurants, the street soon became busy with hundreds of restaurants, bars and massage venues serving Japanese foods and products until it was suspended for Covid-19 pandemic prevention activities in 2021. Since then, many shops have been closed … [Read more...] about South Korean and Japanese streets still quiet in HCM City