Hundreds of abandoned real estate projects in Hanoi to be inspected

16/09/2020    10:00 GMT+7 vietnamnet

The Prime Minister has assigned the Ministry of Natural Resources and Environment and Hanoi authorities to check reports in local newspapers about 300 pending or abandoned real estate projects in the city.

The Hanoi Planning and Investment Department has released a decision to stop a housing project in Me Tri ward of Nam Tu Liem district. The investment certificate was given in June 2008 to Vietnam Trade Union Tourism Co Ltd.

Hundreds of abandoned real estate projects in Hanoi to be inspected

The company has to give back the land plot allocated to it before implementing the project, because the investor did not start the project within 12 months as stipulated in the 2014 Investment Law.

Tiếp tục đọc “Hundreds of abandoned real estate projects in Hanoi to be inspected”

Number of hotels on sale reaches record in Vietnam

16/09/2020    09:10 GMT+7 vietnamnet

Hotels for sale is reaching a record number in a decade in Vietnam.

The number of hotels for sale is reaching a record high in a decade in Vietnam as the Covid-19 pandemic has thrown the local tourism industry in abyss, according to real estate brokers. 

Every day, dozens of hotels in Ho Chi Minh City, Hanoi, and coastal cities are for sale, but the number of properties hitting the market far outstrips that of buyers.

 A hotel in Hai Ba Trung district, Hanoi. Photo: Saigondautu

In Hanoi, the Old Quarter is home to many hotels for sale due to the impacts of the second wave of Covid-19 infections. Located on Hue Street, a 200m2 hotel is offered at VND300 million (US$12,930) per m2. Also, a 5-story hotel on Hang Be street with 16 rooms and 5.5m main side is asking for VND69 billion (US$3 million).

Tiếp tục đọc “Number of hotels on sale reaches record in Vietnam”

HCM City to turn Can Gio into sustainable eco-urban area

16/09/2020    06:47 GMT+7 vietnamnet

HCM City plans to turn Can Gio District into an ecological urban area as part of efforts to urbanise it and improve the quality of life for locals.

The famous Can Gio Mangrove Biosphere Reserve Area. HCM City plans to turn Can Gio District into an ecological urban area. Photo courtesy of the Can Gio Mangrove Biosphere Reserve Area

With Prime Minister Nguyen Xuan Phuc calling on HCM City to “urbanise the district while preserving its mangrove forests,” the city plans to solicit investment in the district, especially in major projects like the Can Gio Sea Encroachment project, Can Gio Bridge, an upgrade of the Rung Sac route, and building a ferry port.  

Tiếp tục đọc “HCM City to turn Can Gio into sustainable eco-urban area”

Vietnam must ‘go ahead, not follow’

Minister of Planning and Investment Nguyen Chi Dung

15/09/2020    10:00 GMT+7 vietnamnet

Vietnam has never had the strength and position as good as it has now to rise up. We need to have a mindset of going ahead. Only when we carry that mindset will we be able to seize the opportunity. 

VietNamNet introduces the last part of the presentation by Minister of Planning and Investment Nguyen Chi Dung.

Focus on transport infrastructure, energy

Phải vượt lên trên trước chứ không đi theo, đi sau
Three North – South expressway projects will start this September.

In terms of investment, Vietnam needs to focus on major transport infrastructure and energy projects to improve the competitiveness of the economy, and build the North-South expressway soon. No country can develop without expressways. Tiếp tục đọc “Vietnam must ‘go ahead, not follow’”

Ministries discuss ways to remove barriers to disbursement of public investment

Update: August, 22/2020 – 07:33| vietnamnewsThe second branch of a double tunnel at the An Sương intersection in Ho Chi Minh City’s District 12 was opened to the public in July after being suspended for a period of time due to land clearance issues. VNA/VNS Photo

 HÀ NỘI — Prime Minister Nguyễn Xuân Phúc on Friday presided over an online meeting with the participation of leaders of central ministries, agencies and localities to discuss ways to boost disbursement of public investment.

Tiếp tục đọc “Ministries discuss ways to remove barriers to disbursement of public investment”

Vietnam poised for highest GDP growth in Southeast Asia

By Dang Khoa   June 19, 2020 | 06:30 pm GMT+7 VNExpress

Vietnam poised for highest GDP growth in Southeast Asia

Farmers harvest rice in a paddy field in the southern province of Soc Trang, March 10, 2020. Photo by VnExpress/Nguyet Nhi.

The Asian Development Bank (ADB) has forecast the highest 2020 GDP growth rate in Southeast Asia for Vietnam at 4.1 percent.

The regional bank has placed Myanmar in second place with an estimated growth rate of 1.8 percent while Brunei in third place with 1.4 percent. Thailand is at the bottom of the list at -6.5 percent, behind Singapore (-6 percent) and Cambodia (-5.5 percent).

Southeast Asia’s average GDP growth is estimated to contract by -2.7 percent this year and expected to rebound to 5.2 percent next year.

Tiếp tục đọc “Vietnam poised for highest GDP growth in Southeast Asia”

15 Japanese firms to move China production lines to Vietnam

Vietnam is expected to attract 15 Japanese firms of different sizes that will receive Japanese government’s subsidies to shift manufacturing plants out of China to diversify its supply chain.

15 Japanese firms to move China production lines to Vietnam
Manufacturing semiconductors at MTEX – a Japanese invested company in Vietnam (Photo: Cao Thang)

The Japanese Ministry of Economy, Trade and Industry (METI) has recently unveiled a list of 87 firms that will receive JPY 70 billion (US$653 million) to implement the scheme, according to Nikkei Asian Review. Tiếp tục đọc “15 Japanese firms to move China production lines to Vietnam”

VN Trade surplus reaches record of $5.46 billion

Update: July, 18/2020 – 07:18 VNS

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Workers of Foster Electric Vietnam Co Ltd on a production line. The total import-export value of the whole country in June reached US$43.28 billion, up 15.8 per cent over May. — VNA/VNS Photo Thống Nhất

HÀ NỘI — Việt Nam recorded a trade surplus of US$5.46 billion in the first half of this year, the highest six-month surplus ever recorded, data of the General Department of Customs this week showed.

Việt Nam’s import and export activities recovered strongly in June, signalling a more optimistic outlook for the country’s foreign trade in the latter half of this year, especially as many countries have started easing COVID-19 control measures and are accelerating the recovery process.

The total import-export value of the country in June reached $43.28 billion, up 15.8 per cent over May, of which export value rose 17.6 per cent month-on-month and import value leapt 14 per cent.

The results in June helped increase the total value in the first six months to $240.12 billion, down slightly 1.4 per cent year-on-year, of which export value reached $122.79 billion, up 0.2 per cent year-on-year, while import value decreased 2.9 per cent to $117.33 billion.

In June, exports of many key commodities witnessed strong growth compared to the previous month, such as computers, electronic products and components fetching $3.95 billion, up 16.2 per cent; phones and components, $3.65 billion, up 24.5 per cent; textiles and garments, $2.6 billion, up 39.4 per cent; footwear, $1.44 billion, up 9.8 per cent; and fishery, $720 million, up 12.1 per cent.

Three groups of products had import turnover of $1 billion in June, including machines, equipment and spare parts; phones and accessories; and all kinds of fabric.

Ending June, there were 22 items with an export turnover of more than $1 billion, accounting for 86.2 per cent of total export turnover.

Phones and components topped the list with $21.5 billion and computers, down 8.4 per cent. The export value of computers, electronic product and components reached $19.3 billion, up 24.2 per cent and textiles and garments $12.8 billion, down 15.5 per cent.

According to the Ministry of Industry and Trade, exports are gradually growing and Việt Nam’s import and export activities are expected to grow more robustly in the last six months when countries open their economies and push the recovery process.

Meanwhile, exports of domestic enterprises increased 11.7 per cent over the same period last year, showing their resilience to negative external impacts. Their growth momentum is no longer dependent on agricultural and aquatic products as in the past. This trend has started in the last two years, especially being clearer in 2019, when exports of agricultural and fishery products faced difficulties.

In addition, the trade agreement between Việt Nam and the European Union (EU), set to take effect from August 2020, will open greater opportunities for Vietnamese enterprises to access the world’s second-largest import market with a population of more than 508 million people and combined GDP of about $18 trillion. — VNS

Lo nợ xấu, VietinBank, BIDV… ồ ạt rao bán đất cầm cố

ĐẦU TƯ Thứ Sáu, 17/07/2020 08:10:30 +07:00

(VTC News) – VietinBank, BIDV, Techcombank, Sacombank… liên tục thông báo bán nhiều bất động sản bảo đảm với giá từ vài tỷ đến cả trăm tỷ đồng.

Ngân hàng TMCP Công Thương Việt Nam (ViettinBank, mã CTG) vừa thông báo bán nhiều tài sản bảo đảm với giá cao nhất lên gần 200 tỷ đồng. Theo đó, ngày 1/7, VietinBank thông báo bán đấu giá tài sản thế chấp là quyền sử dụng đất, quyền sở hữu nhà ở và tài sản khác gắn liền với đất tại Trung tâm thương mại phức hợp Cần Thơ Center 3,23 ha, với giá khởi điểm là 190 tỷ đồng. Tiếp tục đọc “Lo nợ xấu, VietinBank, BIDV… ồ ạt rao bán đất cầm cố”

What VN needs to do to attract quality FDI after Covid-19

 

Update: July, 14/2020 – 08:00 VNS Share facebookChia sẻ bài viết lên TwitterShare google+|

 

A factory belonging to a foreign company in Hải Dương.  There are several things Việt Nam could do to become more attractive to foreign investors.—  VNA/VNS Photo Trần Việt

HCM CITY — Speeding up infrastructure development and improving ease of doing business and vocational training are among things Việt Nam can do to make itself more attractive to foreign investors post-Covid-19, according to investment fund VinaCapital.

Don Lam, the fund’s co-founder and CEO, said, “Consultants expect  20 per cent of China’s manufacturing sector to move out the country in the coming years. Tiếp tục đọc “What VN needs to do to attract quality FDI after Covid-19”

Vietnam poised for quick recovery once the global economy reopens

 14 July 2020 Consultancy.asia

Although Covid-19 threw a spanner in the works for Vietnam’s thriving economic growth story, McKinsey & Company suggests that the country could resume pre-crisis growth levels by next year.

Two factors have combined to cushion the blow of Covid-19 on Vietnam’s economy, at least in comparison to other economies across Asia and the world. For one, the country was successful in containing the virus. In fact, reports highlight that the last report of community transmission of Covid-19 in Vietnam was two months ago. Tiếp tục đọc “Vietnam poised for quick recovery once the global economy reopens”

Is the supply chain shifting to Vietnam in a post-COVID-19 world?

Rumour has it that Vietnam is poised to be one of the biggest winners of all – let us dive a little into it

Trade tensions between the US and China have been the talk of the town since the year 2018. With the two world powers undergoing a lengthy trade dispute, there are unending speculations on the impacts on both nations, and also the probable spillover effects on the Southeast Asian (SEA) countries. Tiếp tục đọc “Is the supply chain shifting to Vietnam in a post-COVID-19 world?”

MoIT aims for production growth in second half of year

Update: July, 11/2020 – 09:33 VNS

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In June, the IIP rose by 13 per cent in the processing and manufacturing sector. — Photo congthuong.vn.

HÀ NỘI — The Ministry of Industry and Trade (MoIT) will focus on removing difficulties in industrial sectors in the second half of this year, especially the processing and manufacturing industry, to expand production and business. Tiếp tục đọc “MoIT aims for production growth in second half of year”

Australian firms in ASEAN consider Vietnam favourable destination

VNA
The rise of Vietnam has been highlighted in a recent survey of the Australian Chamber of Commerce (AustCham), as Vietnam is now considered the most favourable place to expand business, surpassing the Philippines and Myanmar in recent years as well as Australia’s long-term business partners namely Malaysia and Singapore.

Vietnam is now considered the most favourable place to expand business, surpassing Australia’s long-term business partners namely Malaysia and Singapore. (Illustrative image. Source: VNA)

Vietnam is now considered the most favourable place to expand business, surpassing Australia’s long-term business partners namely Malaysia and Singapore. (Illustrative image. Source: VNA)

Tiếp tục đọc “Australian firms in ASEAN consider Vietnam favourable destination”

Failed projects to receive no more cash: Deputy PM

VNS Update: June, 08/2020 – 08:30

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The Dung Quất Bio-ethanol Plant in the central province of Quảng Ngãi, one of the 12 loss-making projects. — VNA Photo

HÀ NỘI — The State will not pump more money into 12 failing mega-projects under the management of the Ministry of Industry and Trade (MoIT), said Deputy Prime Minister Trương Hòa Bình in a recent meeting with high-ranking officials in Hà Nội. Tiếp tục đọc “Failed projects to receive no more cash: Deputy PM”