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, …
Vietnam reports more than 16,000 new COVID-19 cases
The Ministry of Health logged 16,067 more COVID-19 infections in Vietnam on Saturday, together with 1,668 recoveries and 148 fatalities. The latest cases, including 15 imported and 16,052 domestic transmissions, were logged in 60 provinces and cities, the ministry said, adding that 7,160 patients contracted the virus in the community. Tay Ninh Province recorded 3,676 of the local cases, Ho Chi Minh City 1,773, Can Tho City 954, Binh Duong Province 716, Ba Ria-Vung Tau Province 697, Dong Thap Province 604, Binh Thuan Province 562, Hanoi 310, Khanh Hoa Province 239, Ha Giang Province 165, Lam Dong Province 159, Bac Ninh Province 137, Thua Thien-Hue Province 106, Da Nang 66, Quang Nam Province 59, Hai Phong City 22, and Quang Ninh Province 15. Vietnam had detected 13,094 locally-acquired infections on Friday. The country has found 1,192,200 community transmissions in all its 63 provinces and cities since the fourth virus wave erupted on April 27. A total of 954,107 of them have …
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US donates two million more COVID-19 vaccine doses to Vietnam
The United States has additionally offered Vietnam over two million Pfizer-BioNTech COVID-19 vaccine jabs, bringing its total donations to the Southeast Asian country to more than 18 million doses. “Another shipment of 2,074,410 doses of Pfizer vaccine arrived in Hanoi early this morning,” the U.S. Embassy in Vietnam said in its verified Facebook page on Friday. The U.S. has so far donated over 18 million vaccine doses to Vietnam through COVAX as part of its steadfast commitment to support Vietnam in the fight against COVID-19, the embassy said. “And more are on the way!” it added. The two countries have cooperated to improve Vietnam’s capacity in response to the COVID-19 pandemic, based on their long-term cooperative relationship, according to the embassy. The U.S. has aided nearly US$1 billion to Vietnam over the past years for develop health infrastructure development, and the former has also committed $26.7 million as support for Vietnam to respond to the pandemic. In …
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Vietnam’s famed Highlands Coffee chain sued for 5-month unpaid rents
The operator of a building in Ho Chi Minh City has taken legal action against Highlands Coffee, a popular café chain in Vietnam, for failing to pay nearly five months of rents, shortly after a similar controversy between the coffee shop brand and another building owner in Hanoi. In its denunciation letter sent to the police bureau of Ward 25 in Binh Thanh District, Ho Chi Minh City, Hoa Binh House Corporation (HBH) accused Highlands Coffee Service JSC of illegally trespassing on Pax Sky building, which belongs to HBH, disrupting security and order, and hindering HBH’s business activities at the building. Highlands Coffee has owed up to VND500 million (US$22,000) worth of rents from July to date for the space of its outlet inside Pax Sky building, which is located at 26 Ung Van Khiem Street in Ward 25, Binh Thanh District, according to a sales manager of HBH. Before submitting the denunciation letter, HBH had discussed the issue with representatives of Highlands Coffee by …
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Japan urged to open door for longan imports from Vietnam
Vietnam’s agriculture minister on Wednesday called on his Japanese counterpart to accelerate quality assessment process for longan exports from the Southeast Asian country to enter the East Asia market in 2022. Le Minh Hoan, Vietnamese Minister of Agriculture and Rural Development, joined a working session with Kaneko Genjiro, Japanese Minister of Agriculture, Forestry and Fisheries, the Vietnamese agriculture ministry reported on Thursday. During the discussion, Hoan urged his Japanese counterpart to accelerate procedures at Japanese appraisal authorities in order for Vietnamese longans to enter Japan in the 2022 harvest. The Vietnamese minister also suggested that Japan apply online inspection or facilitate procedures for enterprises to ship heat-treated poultries to Japan. Mechanisms for Vietnam’s pomelo and Japan’s grape harvests to enter the other market will also be devised, the two ministers concurred. Vietnam is promoting agriculture development to ensure food …
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Vietnam’s global commitments force ministry to reconsider electricity projects
The latest draft of the eighth national power development plan in 2021-2030 shows considerable reductions in coal-fired power and increases in wind power, following Vietnam’s strong commitments at COP26. The eighth plan still has not been issued after many debates. The draft plan continues to be amended after Vietnam made strong commitments at COP26 on the goals and ambitions in obtaining Net Zero by 2050. Because of the commitments, the Ministry of Investment and Trade will have to reconsider the country’s electricity generation sources. In an operating scenario released by the Ministry of Industry and Trade (MOIT) in November, the total capacity of power sources to be installed by 2030 is 155,722 MW, lower by 24,305 MW than the 180,027 MW shown in March scenario. With the scenario, coal-fired electricity capacity would decrease by 6,694 MW, while LNG-fired electricity by 18,550 MW and Vietnam would increase electricity capacity from wind power. Onshore wind power …
Seven commodities with export value hitting over US$10 billion each
Vietnam has boasted seven commodities with an export turnover exceeding US$10 billion each as of November 15 following the post-pandemic resumption of various businesses. Iron and steel products record strong export growth by mid-November. The first two weeks of November saw Vietnam rake in US$14.61 billion from exports, raising the country’s total export value since the beginning of the year to US$284.45 billion, a year-on-year increase of 17.7%. Most notably, iron and steel joined the US$10-billion export product club for the first time, alongside six other groups of commodities, namely phones and components, computers, electronic products and components, machinery, garments and textiles, footwear, and timber and wood products. Among the key hard currency earners, phones and computers recorded the highest earnings of US$48.8 billion and US$43 billion respectively, while machinery and equipment ranked third with turnover of US$31.77 billion. They were followed by …
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Ministry takes action as market sets up new price levels
It was recorded on November 23 in Ho Chi Minh City that some products and many services set new price levels. Prices of vegetables at supermarkets are much higher than those at the beginning of November. (Photo: SGGP) Many essential products' prices have risen by about 15 percent At some markets in District 12 and Hoc Mon District, the prices of fresh vegetables and fruits increased slightly from VND3,000 to VND5,000 per kg. For example, Can Tho head mustard edged up to VND19,000 per kg; oranges rose to VND40,000 per kg; Dalat bananas went up to VND21,000 per kg. Seafood, pork, and chicken also rallied by VND5,000-VND10,000 per kg, depending on the type. For instance, red tilapia is currently priced at VND60,000-VND65,000 per kg; free-range chicken fetches VND60,000-VND70,000 per kg. According to Deputy Director of HCMC Department of Industry and Trade Nguyen Nguyen Phuong, the department has organized the "focused promotion program in 2021 from November 15 to …
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FTAs momentum for Vietnam’s exports
Since joining the World Trade Organisation 15 years ago, Viet Nam has become a part of 17 FTAs, which are either under negotiation or underway. This has helped create a momentum for the country's exports. Viet Nam’s total export-import value rise from $84.7 billion in 2006 to $545.3 billion in 2020. Workers make shoes for export. Now, the Ministry of Industry and Trade (MoIT) is enhancing the formation of a portal that will make accessing information on the current and upcoming FTAs easier for Vietnamese businesses. Ngo Chung Khanh, Deputy Director of the MoIT’s Multilateral Trade Policy Department, said that 2021 has been a difficult year for businesses and the wider economy, but there is still hope for the future. He mentioned export turnover as an example, in which traditional markets like China and other ASEAN countries were supplemented by the US and other countries that Viet Nam has signed Free Trade Agreements with. Thanks to two newly-signed FTA's, …
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