Seattle house market

Accordingly, the city set massive targets for housing development, including a demand of at least 6.7 million square meters of housing and an average housing floor area per person reaching at least 21.2 square meters, extending 194.6 hectares of land for commercial housing projects and 52.1 hectares for social housing projects . Regarding capital sources, the city will need around VND72,578 billion (US$3.1 billion), including VND28,435 billion (US$1.2 billion) for commercial housing projects, VND43,456 billion (US$1.9 billion) for individual houses and VND698 billion (US$30 million) for social housing projects. Besides, the city is also reviewing the land fund of 20 percent for social housing construction at commercial housing projects and new urban areas in the locality. In addition, Ho Chi Minh City also proposed the State Bank to monitor and direct the commercial banks on strictly controlling the loans in the real estate sector, money transfer from real estate to overseas, … [Read more...] about HCMC needs over US$3 bln for housing development

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

It was recorded on May 16 that at a fast food shop on Hai Ba Trung Street, District 3, the price of banh mi with ham was adjusted from VND20,000 per loaf to VND25,000 per loaf; Vietnamese pork bologna and Vietnamese rice pyramid dumplings also had new prices. The sellers said that the prices of Vietnamese pork bologna, baguette, and herbs all went up, so they were forced to raise the selling price. Although the selling price is increased, it is only to compensate for the slippage, not to make a profit. At a store in Tan Chanh Hiep Ward in District 12, specializing in selling fried Vietnamese pork bologna and Vietnamese square Northern sticky rice cakes, the prices rose by VND5,000-VND10,000 per item. For example, a one-kilogram Vietnamese square sticky rice cake costs VND80,000, an increase of VND5,000; Vietnamese pork bologna and grilled cinnamon pork paste fetch VND230,000-VND240,000 per kg, up VND10,000 per kg. Moreover, the home delivery fee is also higher than before, from … [Read more...] about Consumer goods increase continuously, supermarkets pledge to stabilize prices

Australia posted its lowest jobless rate in 48 years Thursday, a potential boost two days before federal elections to Prime Minister Scott Morrison, who is fighting to stay in power. The unemployment rate dipped to 3.85 percent in April, the official statistics body said, the lowest level since 1974 -- when flared trousers were in fashion and US president Richard Nixon resigned over the Watergate scandal. Australia's economy created an additional 92,400 full-time jobs in the month, the Australian Bureau of Statistics said. That helped to trim April's seasonally adjusted unemployment rate from 3.93 percent the previous month. Many employers say they are struggling to find staff in the tight jobs market. "We're definitely still feeling staff shortages," said Matt Jenkins, human resources manager at Sydney restaurant group Applejack Hospitality. "I know for chefs, they can have multiple job offers at a time. And even candidates that we're speaking to, they're sitting on offers … [Read more...] about Australia reports 48-year-low jobless rate before election

As Vietnam reopens its borders to tourism, attracting, developing and retaining a quality workforce has become the top priority for this industry. With borders reopened and tourism promotion campaigns launched in Vietnam, hotels, tour operators and ancillary service providers across the country might be facing a major problem: shortage of qualified labor. Dr Nuno F. Ribeiro, RMIT University Vietnam During the worst period of the pandemic in 2020-2021, many tourism organizations had to reduce their (experienced) workforce. A report by the Ministry of Culture, Sports and Tourism revealed that tourism businesses cut staff by 70-80% in 2020. In 2021, the number of full-time tourism employees was down to 25%  of the 2020 level, and about 30% quit their jobs or had their contracts terminated. These workers have either returned to their original employment prior to tourism and hospitality or they have found employment elsewhere. Now a great number of them are … [Read more...] about Hunt for human talent for tourism – Vietnam’s new normal: RMIT University

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

It is not uncommon for Vietnamese Americans to return to Vietnam to start a business in their twenties or thirties. For many, this return to the motherland is more than just a chance at a new career, it is a chance to find the true meaning in life. Tony Ngo and Don Le are known for founding Everest Education, an institute in Ho Chi Minh City which offers math and English enrichment courses, test preparation, college admissions consulting, and private tutoring to students from grades 1 to 12. Born and raised in California, with an MBA from Harvard Business School and a BA from Stanford University, Tony’s first visit to Vietnam was in the summer of 2007 for an internship at TPG Capital. “After graduating, I had many questions about the culture, the market, and the transformation happening in Vietnam. I wondered if I could contribute anything,” Tony shared during a phone interview with Tuoi Tre News . “Seven years later, I decided that if I didn't do a summer internship in … [Read more...] about Vietnamese Americans find career, home, identity in motherland

Japfa policy change irks chicken farmers-illustration photo, source: freepik At the end of April, some affiliated farms in Buon Ma Thuot city in Dak Lak province were quietly closed, and a lot of equipment for livestock has now become useless. Some of them have even had to sell their homes or suffer billions of VND in losses with chicken breeding. Hoang Thi Cuc, a farmer in Hoa Thang ward, poured in over $108,000 into lodging and began to work with Japfa in 2019 to feed 15,000 chickens, but he has now abandoned the farm. “At the time, Japfa said that we could recoup capital within the next three years. So we decided to borrow money and rent land to build the farm. However, after the first year and gaining some profit, we have suffered losses since then. To cut the losses, we stopped receiving chickens from the company for the last six months and have decided to abandon the farm,” said Cuc. Cuc said the farm was losing $8,700 and land rent for every farrow of chicken. While … [Read more...] about Japfa policy change irks chicken farmers

A three-bedroom lagoon pool villa at Regent Phu Quoc opens today on Phu Quoc Island. — VNS Photo HCM CITY —  IHG Hotels & Resorts debuts its first resort under its upper luxury brand, Regent Hotels & Resorts, in South East Asia with the opening of Regent Phu Quoc, its first resort in Việt Nam, on April 19. Located off the southwest coast of Việt Nam alongside a UNESCO-designated World Biosphere Reserve, the all-suites-and-villas resort is a stone’s throw from the water’s edge along Long Beach. Exceptional design and state-of-the-art technology will be delivered alongside the brand’s legendary hospitality for a seamless guest journey. “We are delighted to introduce Regent’s renowned hospitality to Việt Nam and look forward to welcoming guests to experience the inimitable island jewel that is Phu Quoc," said Juan Losada, general manager of Regent Phu Quoc. Regent Phu Quoc will surely be a brand-defining resort in Việt Nam and South East Asia that will deliver a genuinely … [Read more...] about Regent Hotels & Resorts opens first resort in Việt Nam

Argentine cuisine (Photo courtesy of the Argentine embassy) Hanoi (VNA) - The Embassy of Argentina to Vietnam is organising the 7th edition of the Argentine Week in Hanoi under the slogan "Celebrating our friendship" from May 23-28, aiming to continue bringing Argentina closer to Vietnam and its peoples through political dialogue, trade and culture. The event, held in the framework of the excellent relations between Argentina and Vietnam, the bilateral Comprehensive Partnership in force since 2010 and on the eve of the 50th anniversary of the establishment of diplomatic relations that will occur in 2023, will consist of three main activities. The Week will kick off with the celebration of " Argentine Beef and Wine Day " on May 23 at the restaurant "Los Fuegos - Argentinian Steak en Grill" (located in the heart of the Tay Ho district) of the renowned Argentine Chef Emilio Fusé. The Argentine Beef and Wine day is an Argentine gastronomy promotion event organized by the … [Read more...] about Seventh Argentine Week in Hanoi “Celebrating our friendship”