The seminar was co-organised by PWC and the Vietnamese Embassy in France, attracting well-known groups that have operations worldwide, including Electricity of France (EDF), the French National Railway Company (SNCF), ESI Groupe, Movement of the French Enterprises (Medef International) and members of Vietnam’s diplomatic mission in France. PWC specialists, who belong to a Vietnam trade promotion group - Group Business Vietnam - presented the legal framework regarding investment and doing business in the country. PWC executives gave an overview of the economic situation and business opportunities as well as challenges in Vietnam. They underpinned that there are high potentials for foreign enterprises in the Southeast Asian country, particularly those engaged in the six areas that Vietnam is calling for more investment, including infrastructure, industry and logistics, pharmaceuticals and healthcare, environment, real estate, information technology and communications. The seminar … [Read more...]
Resorts win real estate awards
Resorts win real estate awards (08-07-2009) HCM CITY — Nam Hai resort in Quang Nam and Indochina Riverside Towers in Da Nang, both in central Viet Nam, have won national-level awards in a global competition that seeks to identify the best real estate professionals. Designed by Paris-based architects AW2, Nam Hai won the International Property Awards’ Architecture Award and Indochina, designed by Gravity Partnership (Hong Kong) and REAL Architecture (Australia), took the competitive Best Mixed-Use Development Award. Nam Hai will go on to compete at the regional level against other winners from the Asia Pacific. Peter Ryder, CEO of Indochina Land, said: "While the awards demonstrate our commitment to building high-quality properties in Viet Nam, we’re also proud to lead the emergence of Viet Nam’s property market in the international arena." Later this year, the Asia Pacific winners will go up against other winning entries from Europe, Americas, and Saudi Arabia … [Read more...]
Overview of Third Quarter Real Estate Market
Overview of Third Quarter Real Estate Market Vietnam economic prospect for the short term is still not very bright due to economic and financial instabilities. Recently, Vietnam has its long term credit ranked lower by Standard& Poor’s, from BB to BB- while its short term credit’s remains at BB level. As evaluated by Colliers, Vietnam economic short term risks include: budget and trade deficit, lack of capital, high interest rate, inflation, foreign debts, currency devaluation. Worries about these risks have been reflected in the Government’s recent adjustment of GDP forecast for this year from 6.5 to 6 percent. This has made up negative impacts on Real Estate market. Office segment continuing to be under pressure of price decrease Office segment in the third quarter of 2011 has seen much improvement. A level office market had the using ratio of 95.3 percent (increasing by 0.9 percent point against last quarter) while B level office market had lower ratio, … [Read more...]
Major tasks and solutions guiding implementation of 2016 Socio-economic development plan
For reference only THE GOVERNMENT ------- SOCIALIST REPUBLIC OF VIET NAMIndependence - Freedom - Happiness --------------- No. 01/NQ-CP Ha Noi, January 07, 2016 RESOLUTION On major tasks and solutions guiding and directing the implementation of the Socio-economic development plan and the State budget plan in 2016 THE GOVERNMENT Pursuant to the Law on Organization of the Government dated December 25, 2001; Pursuant to the Resolution No. 98/2015/QH13 dated November 10, 2015 of the National Assembly on the Socio-economic development plan in 2016; Pursuant to the Resolution No. 99/2015/QH13 dated November 11, 2015 of the National Assembly on the State budget plan in 2016; Pursuant to the Resolution No. 101/2015/QH13 dated November 14, 2015 of the National Assembly on allocation of central budget in 2016; Based on the discussion of the Cabinet's members and local leaders and the conclusion of the Prime Minister at the Government's conference held on December 28 - 29, 2015, … [Read more...]
Press digest – June 05
Favorable conditions created to attract more investment In a speech delivered at the 2014 Mid-term Viet Nam Business Forum, PM Nguyen Tan Dung stated that Viet Nam will ensure absolute security and safety for foreign organizations, businesses and individuals in the country. The nation will struggle with peaceful measures to protect its sovereignty based on international law, PM Dung re-confirmed. Taiwan to expand investment in VN Taiwanese businesses will expand investment activities and continue with projects in Viet Nam, said Chairwoman of the Council of the Taiwanese Chambers of Commerce to Viet Nam Liu Mei Te when she was received by PM Nguyen Tan Dung. The Vietnamese Government will continue to improve its business environment to facilitate foreign investors' successful and long-term investment in Viet Nam, including that of Taiwanese, the Government leader stressed. VN attends Global Summit of Women in Paris A Vietnamese delegation, led by Vice President Nguyen Thi Doan is taking … [Read more...]
Press digest – November 11
NA approves minimum salary increase plan The National Assembly (NA) has assigned the Government to increase the minimum salary level from VND1,150,000 to VND1,210,000 per month for cadres, civil servants, officials and armed servicemen since May 1 next year. The issue, stated in Resolution on State budget estimates for 2016, was approved on November 11 with 79,35% of votes of National Assembly deputies during their ongoing sitting. The Resolution sets the budget revenue target of VND1,014,500billion next year (excluding the VND4,700 billion transferred from the local budgets from 2015). The total State budget spending is estimated at VND1,273,200 billion. The State budget overspending will be VND254,000 billion, equal to 4.95% of the GDP. New Deputy Minister, provincial Chairmen named The PM has appointed Director of Agro-Forestry Processing and Salt Industry Department under the Ministry of Agriculture and Rural Development Nguyen Trong Thua as Deputy Minister of Home Affairs. The PM … [Read more...]
Urban city transport ambitions require long-term planning
Professor Manfred Breithaupt, senior transport advisor for the German Society for International Cooperation, spoke to Viet Nam News about how Vietnamese cities can cope with rising numbers of personal vehicles. The Transport Ministry of Viet Nam has proposed limiting personal vehicles entering the downtown area, but this has caused concerns by experts and the public alike, because personal vehicles are still the dominating force in Viet Nam's urban cities. What are your thoughts about this? Dealing only with the supply side, while trying to satisfy increasing demand by building more road infrastructure, will not help to solve the problems of increasing congestion and other adverse effects of motorized individual urban transport. In this context, we welcome the government's decision to increase parking fees, traffic fines and also restricting and limiting vehicle entries, especially in the downtown area's of major cities. Such restrictions can promote compact development of urban … [Read more...]
Property stocks poised to lead gains
Investors at a Saigon Securities Inc exchange floor. The benchmark VN Index is expected to reach 615 points this week. — VNS Photo Doan Tung HA NOI (Biz Hub) — Vietnamese shares may extend their gains this week as smaller speculative stocks such as property firms become more attractive amid mixed results from large-cap stocks, brokerage firms forecast. Local property firms such as FLC Group (FLC) surged 8.6 per cent last week and Tan Tao Investment Industrial JSC (ITA) jumped 4.8 per cent on expectations the property market will strengthen ahead of the Tet holiday in February. "However, such gains will not ensure a long-term improvement for the market because the market will still depend much on large-cap shares," Sai Gon-Ha Noi Securities Corporation said in a report. Boosting investor optimism, analysts expect the foreign exchange market will likely be stable from now to the end of this year as the US central bank will likely decide to slowly raise its interest rates. … [Read more...]
Ha Noi named in region’s top crowded retail markets
Customers shop at the Ocean supermarket in Ha Noi. — VNS Photo Truong Vi HA NOI (Biz Hub) — Ha Noi has been listed in the top three cities with the most crowded retail market in the Asia-Pacific region in 2014, after China's Beijing and Shanghai. A new study on Crowded Level of retail markets in the Asia-Pacific region by commercial real estate firm CB Richard Ellis, showed that China's Beijing and Shanghai took the first and second places in the rank respectively. Viet Nam's capital – Ha Noi – was also ranked 13th in the list of 19 most crowded retail markets in the world. The French capital –Paris – tops the list, followed by Tokyo and Hong Kong. The study also revealed that Ha Noi, HCM City and Da Nang City were among 10 cities where retailers planned to open the highest number of shops in 2014. Ha Noi accounted for 36 per cent of those, which was equal to Berlin and Shanghai. This has been the third consecutive year that Ha Noi has been listed … [Read more...]
Foreign investors turn up noses on brokerages
by Thien Ly After September 15, when Decree No 58 takes effect, the number of foreign-invested brokerages will remain low even though the previous 49 per cent maximum ownership limit has been scrapped. On July 20, Decree No 58/2012/ND-CP was issued, guiding the implementation and amendment of the Law on Securities. Foreign organisations that meet the conditions will be allowed to own 100-per-cent of the charter capital of operating securities companies or to set up a new 100-per-cent foreign-invested securities company. Although the decree will go into effect in a few days, the local securities market has yet to see many changes. The local stock market has 105 operating securities companies, of which 15 are invested in by foreigners, who own 49 per cent of their charter capital. Twenty-five other securities companies have between 20 and 25 per cent of their chartered capital owned by foreigners. Most foreign stake-owners at Vietnamese securities companies come from Asia, many from … [Read more...]