GreenWorks's factory is one of the tenants in Sao Do Group's Nam Dinh Vu Industrial Park Sao Do Group was founded in 2002. Through 20 years of development, the group has become a multi-industry corporation with four member companies and affiliated companies, focusing on real estate, construction, building materials, petroleum, and logistics. With years of experience and flexibility to adapt to the market changes, Sao Do Group has successfully implemented a series of projects, such as the Nam Dinh Vu Industrial Park. Covering an area of 1,329 ha, Nam Dinh Vu Industrial Park was launched in 2009 in Dinh Vu-Cat Hai Economic Zone, which brings about not only great advantages like tax incentives but also adds value to partners with complete infrastructure, logistics, and customs services. Nam Dinh Vu Industrial Park directly connects to Haiphong and Hanoi. One can easily reach Quang Ninh province and the border with China via Bach Dang bridge and the Haiphong-Mong Cai expressway. … [Read more...] about Sao Do Group – a prestigious industrial real estate developer
Real estate market
Avoid unworthwhile investments, try estate taxes, Vietnam advised
At a Saturday conference in Harvard University on Vietnam's development strategy in the 21st century, Prime Minister Pham Minh Chinh said Vietnam's economy has expanded into the fourth largest economy in ASEAN and among the world's top 12 economies with the largest scale of commerce. The country also takes part in 15 active FTAs, he said. Economist David Dapic said Vietnam taking part in FTAs was a major success. Millions of farmers have moved on to work in factories as a result. But the fact that most materials for production are imported from China is a weakness, he added. When the Covid-19 pandemic broke out, borders were closed and there was commercial tension, Vietnam's exports were affected, Dapic said. Vietnam's trade turnover with the U.S. may reach $100 billion this year. Such a figure might be small for the U.S., but Vietnam should take note to remain in constant communication and avoid being accused of currency manipulation, he advised. Nguyen Thi Hong, head of the … [Read more...] about Avoid unworthwhile investments, try estate taxes, Vietnam advised
Warburg Pincus joins Vietnamese logistics and property market
Global private equity firm Warburg Pincus has set up a joint venture with major Vietnamese real estate and infrastructure firm Becamex IDC Corp. (Becamex) to create the largest logistics and industrial real estate developer in the country, according to a statement. The JV will be called BW Industrial Joint Stock Company (BWID) and will focus on developing institutional-grade logistics and industrial properties across Vietnam. Both firms have committed US$200 million to the platform. Warburg Pincus joins Vietnamese logistics and property market. Nguyen Van Hung, Chairman of Becamex, believed that the co-operation with Warburg Pincus, a best-in-class private equity firm with deep experience in Asia, is a great opportunity, according to the company's statement. "With the transformative shift of the manufacturing base from markets like China to Vietnam as well as with the rapid rise of domestic consumption, the logistics and industrial real estate market in … [Read more...] about Warburg Pincus joins Vietnamese logistics and property market
Vietnam’s stock market has potential in long term
The stock market plummeted last week causing headaches to investors. (Photo: SGGP) Stock market wobbles Many investors have expected to hunt good stocks in May because many stocks have plummeted to attractive price ranges from the decline that lasted for the last four weeks. Not only speculative stocks but mid-cap and large-cap ones were also sold off. Neither new investors nor professional investors dare to see their accounts being eroded day by day. Many investors sold to cut losses, and the total accounts lost by 30-50 percent within two weeks. Not only individual investors but large investment funds also recorded heavy losses in the first four months of the year. Specifically, one of the oldest and largest ETFs in Vietnam, Vaneck Vectors Vietnam ETF (VNM ETF), with a portfolio of US$546 million, saw a decrease in portfolio performance of 23.92 percent from the beginning of 2022. Vietnam Equity Fund (VEF) also recorded a negative portfolio performance of nearly 10 percent in … [Read more...] about Vietnam’s stock market has potential in long term
Young Vietnamese turn to mortgages, installment plans to secure dream homes
Le Thi Bao Tran, a young white-collar worker in Ho Chi Minh City, has spent the past eight years moving between rented rooms, doing her best to save up enough money to purchase a home of her own. Like other young, white-collar workers who have moved to Ho Chi Minh City to pursue their careers, Tran hopes to eventually purchase a home in the city, but the rising cost of real estate has kept that dream out of reach. A lifelong dream Tran spent her college years moving between rental apartments in Binh Thanh District. At one point, she shared a tiny 10-square-meter apartment with a friend for just VND1.1 million ($47) per month, including utilities. During the dry season, the apartment would heat up like an oven, and the putrid smell from a nearby garbage dump would waft through the windows. "If you closed the door, you could hardly breathe. If you opened the door, you still couldn’t breathe because of the horrible smell," she shared. Things were not much better in the … [Read more...] about Young Vietnamese turn to mortgages, installment plans to secure dream homes
Vietnam’s business environment favorable for foreign investors: Warburg Pincus
The capital market, digitalization, energy transition, climate change, and strategic infrastructure are key potential fields for Warburg Pincus to focus on in Vietnam. Vietnam’s business environment and macroeconomic conditions have become more stable and favorable for foreign investors, said CEO of global private equity firm Warburg Pincus Charles Kaye at a meeting with Prime Minister Pham Minh Chinh on May 15. Prime Minister Pham Minh Chinh and CEO of global private equity firm Warburg Pincus Charles Kaye. Source: VGP Kaye said investors are concerned about the four major issues, including the capabilities of local companies, macro-economic stability, infrastructure, and the authorities' responsiveness. In this regard, Kaye said Vietnam could do more in infrastructure development as one of the measures to improve the business environment. The CEO also revealed a plan to expand the equity firm investment portfolio in Vietnam’s real estate market and … [Read more...] about Vietnam’s business environment favorable for foreign investors: Warburg Pincus
Localities clamp down on land hoarding and speculation
For-sales signs put up along a road in a district in Tay Ninh Province. Industry experts have voiced concern over the recent land fever as a result of the pandemic. —VNA/VNS Photo Authorities in Ha Noi halted processing on all land partition applications of agricultural land or made up of agricultural areas and non-residential land in a move joined by other localities across the country to combat real-estate speculation and hoarding. The move was announced in a recent memo by the capital city's authority to the Department of Natural Resources and Environment. Last week, the Vietnam News Agency reported a large number of land partition applications were received by southern Tay Ninh Province's Department of Natural Resources and Environment. A majority of the applications were for Hoa Thanh and Trang Bang townships as well as border districts such as Ben Cau, Tan Chau and Duong Minh Chau. According to local sources, a hectare of land in the areas is typically purchased at … [Read more...] about Localities clamp down on land hoarding and speculation
Not lending to property sector will have mixed effects: analysts
A view of HCM City. Many banks have temporarily ceased lending to the property sector. — Photo vneconomy.vn Deputy Governor of the State Bank of Viet Nam, Dao Minh Tu, announced at the Government’s March press conference that credit growth in the first quarter of the year had been 5.04 per cent, much higher than the 2.16 per cent rise in the same period last year. He described it as a “quite positive result” that showed the economy had made a significant recovery with people’s lives and businesses returning to normal thanks to the Government’s effective measures against the COVID-19 pandemic. According to a report by the SBV’s HCM City office, credit growth in the country’s main economic hub was estimated at 3.65 per cent in the first quarter. The positive performance has encouraged many banks to set high goals for the full year. At its annual general meeting on March 16, VIB approved a growth target of 30 per cent, much higher than the cap of 14 per cent set by the central … [Read more...] about Not lending to property sector will have mixed effects: analysts
Techcombank on track for a seat among the top ASEAN banks
Techcombank is on track to be among the top ASEAN banks Techcombank’s rise within the Vietnamese banking industry was highlighted last year when it became the first non-state-owned bank to join Vietnam’s billion-dollar profit club. “Even in the very tough environment we are seeing, our employees have maintained a high quality and reliable service for our customers and this is helping us to deliver stellar performance year after year,” said Jens Lottner, CEO of Techcombank. Last year, the bank continued to reduce costs while focusing on building deposits in its current accounts and savings accounts (CASA), which Lottner described as a “stable and cheap” source of funding. Techcombank’s CASA ratio, which reflects the percentage of the bank’s total deposits that are CASA, jumped from 46.1 per cent in 2020 to 50.5 per cent last year, well on its way to the bank’s target of 55 per cent by 2025. Techcombank’s net interest margin, a measure of the difference between the interest … [Read more...] about Techcombank on track for a seat among the top ASEAN banks
The Vietnam-US comprehensive partnership facilitates investment activities: PM
The prime minister held meetings with executives of US major financial corporations such as KKR, Visa, S&P, and Citigroup over future cooperation in the financial sector. The comprehensive partnership between Vietnam and the US would create favorable conditions for investment activities. Prime Minister Pham Minh Chinh and CEO of KKR Joseph Bae (l). Photos: VGP Prime Minister Pham Minh Chinh stressed the view during meetings with executives of US financial corporations on May 16. Joseph Bae, the CEO of Kohlberg Kravis Roberts (KKR), said the investment fund is looking to expand its presence in the fields of real estate, infrastructure, digitalization, and technologies in Vietnam. According to Bae, KKR is one of the largest private equity managers in the world with assets of US$470 billion. So far, the corporation has invested over $1 billion in three companies in Vietnam. Bae said Vietnam remains an attractive investment destination with favorable … [Read more...] about The Vietnam-US comprehensive partnership facilitates investment activities: PM