Asian real estate investors

Despite the high demand for housing, the transaction volume stays low due to the high prices compared to people’s average income. The scarce supply of new projects remains a key factor keeping demand for housing high in Hanoi’s real estate market in 2023. Locals looking at a real estate project in Hanoi. Photo: Pham Hung/The Hanoi Times During the last months of 2022, transactions in the real estate market stayed in stark contrast to the previous boom period. Experts suggested that this was due to several laws regulating the market not being completed, coupled with a sharp decline in liquidity as a result of the government's direction to restrict credit flows in high-risk fields and tighter regulations on corporate bond issuance. The sharp drop in transaction volume and supply, coupled with the high demand for housing, means that prices continue to rise. Data from the Vietnam Association of Realtors (VARS) showed in the fourth quarter of 2022, Hanoi has … [Read more...] about Demand for housing in Hanoi forecast to rise in 2023

Vietnam is seeing more and more early-stage investors newly established, expanded to Vietnam market or raised new Vietnam-focused funds from 2021 to 2022. Among Southeast Asian countries, Vietnam is the hottest destination for investors pursuing a longer-term vision, according to a survey by Bain.Investors are confident in Vietnam’s long-term prospects, despite the current economic downturn and lack of funding. According to DealstreetAsia , Vietnam has recorded 11 early stage venture capital funds focused on the market, with seven maiden funds and four others Vietnam focused funds including AVV, Do Ventures, Nextrans, ThinkZone, Touchstone Partners, VinaCapital Ventures. In terms of total AUM, there was $371 million raised and $200 million target needed to be raise in 2023 and 2024 . Since 2021, there have been more deals conducted by these Vietnam-focused funds, proving themselves as one of the most crucial support systems for early-stage entrepreneurs in the country. In … [Read more...] about Vietnamese startups raise $855 million in 2022

Speaking at the event, Vietnamese Ambassador to Russia Dang Minh Khoi highlighted the time-tested relationship between the Vietnam and Russia in all spheres, saying it is a precious asset of the two countries. The ambassador said 2023 is a year of great significance to the bilateral ties as the two countries will celebrate the 100th anniversary of President Ho Chi Minh's arrival in Petrograd (now St. Petersburg). It’s also an opportunity for both nations to review their achievements. Several works will also be inaugurated in the year to celebrate the special ties, including a statue of President Ho Chi Minh in St. Petersbur, he added. Russian Ambassador to Vietnam Gennady Bezdetko confirmed that Vietnam has always been one of Russia's closest and most reliable partners in the Asia-Pacific region. The Southeast Asian country is still Russia's largest trading partner in ASEAN despite changes in the region and the world. For his part, Chairman of the Foreign Affairs Committee of … [Read more...] about 73rd anniversary of Vietnam – Russia diplomatic ties marked

We met Lam, a calm and brave girl with confident eyes, when she was back in Vietnam from the 17th World Chinese chess (Xiangqi) Championship in Malaysia. At the competition, Lam bagged the gold medal in the girls' U16 standard Chinese chess. “I am really happy to bring home the second gold medal in the global arena. Previously, at the World Xiangqi Championship in Canada, I grabbed the gold medal in the girls' U12 standard category. The prizes serve as motivation for me to train hard and achieve higher results in the coming time,” Lam shared. Together with two world gold medals, Lam pocketed many gold medals at the Asian Youth Xiangqi Championships, national championships and other tournaments. Attentively, in 2018, at the Asian Open Youth Xiangqi Championship, Lam won a hat-trick of gold medals in the standard, rapid, and blitz categories for U10 girls. For six consecutive years, she has claimed gold medals at the national youth chess championships. Lam’s love for Xiangqi was … [Read more...] about “Golden girl” of Vietnam’s Xiangqi

Illustrative image (Source: VNA) Hanoi (VNA) – The southeast region is preparing necessary conditions in infrastructure, administrative procedures and human resources to welcome a new wave of foreign direct investment (FDI), as investors have flocked to the region right from the beginning of this year. The region, comprising Ho Chi Minh City and five provinces of Dong Nai, Binh Duong, Ba Ria–Vung Tau, Binh Phuoc, and Tay Ninh, has been attractive to investors. HCM City and Binh Duong were the leading localities in FDI attraction in 2022 with 3.94 billion USD and 3.14 billion USD, respectively. Right at the beginning of 2023, Binh Duong welcomed many large firms coming to explore the local investment opportunities, including Sembcorp and CapitaLand from Singapore, Nebraska from the US, and Tokyu from Japan. According to the Ministry of Planning and Investment (MPI)’s Foreign Investment Department, the southeast region will continue to be the major FDI magnet of the country … [Read more...] about Southeast region prepares for new FDI wave

The Ho Chi Minh City Stock Exchange (HOSE) hosted a gong-beating ceremony on January 31, marking the first trading session of the Vietnamese stock market in Spring 2023. In her opening speech, Vu Thi Chan Phuong, chairwoman of the State Securities Commission (SSC), emphasised that 2022 marked a challenging year for the Vietnamese economy due to a range of internal and external factors. However, the national economy was able to record a series of impressive results, with GDP growth rate increasing by 8.02% and inflation kept in check, she said. Moving into 2023, she said the global economic and political landscape is anticipated to record plenty of complicated and unpredictable developments, and in such a context the securities sector will continue to fine-tune the legal framework and formulate policies in line with the actual development of the stock market. Phuong underlined the necessity of accelerating restructuring and swiftly putting the stock trading system … [Read more...] about First Spring 2023 trading session of stock market opens

Chairperson of the Indonesian Chamber of Commerce and Industry, Arsjad Rasjid (second from right), at the press conference. (Source: ANTARA/Ade Irma Junida/uyu) Jakarta (VNA) - The Indonesian Chamber of Commerce and Industry (Kadin), which is chairing the 2023 ASEAN Business Advisory Council ( ASEAN-BAC ), is about to introduce seven legacy breakthroughs on five priority issues during the country’s ASEAN chairmanship this year. Antara news agency of Indonesia reported that the Kadin chairperson, Arsjad Rasjid, unveiled the information at a January 30 press conference on the “ASEAN-BAC Chairmanship Handover Ceremony 2023” (from Cambodia to Indonesia). Three of the seven legacies involve digitisation programmes that focus on fintech and e-trade, namely the ASEAN QR (Quick Response) Code, the ASEAN P2P (peer-to-peer) Lending Platform, and WIKI Entrepreneurship. Rasjid said that Kadin is collaborating with all central banks in ASEAN countries for the QR code … [Read more...] about Indonesia to introduce ASEAN breakthroughs on fin-tech, e-commerce

Bangkok (VNA) – Thailand is set to open three new “smart” piers on the Chao Phraya River this year to help reduce traffic problems and offer improved transport links between road, rail, and river. The Rama VII Pier, Tha Tian Pier, and Kiakkai Pier will be upgraded to become smart piers this year, deputy spokeswoman of the Thai Government Tipanan Sirichana said on January 30. The government planned to upgrade 29 piers into smart ones by 2025, at a cost of about 942 million THB (28.77 million USD). They will be equipped with real-time displays to inform commuters of boat arrival times. The facilities will also have free WiFi and mobile-phone charging stations, with a design that offers support for wheelchair users. The smart piers will have a landmark-worthy aesthetic and will connect to other transport platforms, she said, adding that they will also accept digital payments, including prepaid cards and mobile payments. Six smart piers at Sathon, Memorial Bridge … [Read more...] about Thailand to open more smart piers