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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

Chiang Mai, Thailand (Photo: Thaiairways) Bangkok (VNA) - Thailand's tourism industry expects foreign arrivals to exceed 30 million in 2023, higher than government estimates of 25-27.5 million. Making the forecast on January 31, the Tourism Council of Thailand (TCT) predicted foreign and domestic tourists will generate over 3 trillion baht (91 billion USD) in revenue this year. However, TCT President Chamnan Srisawat warned the huge volume of visitors will pose challenges for the Thai tourism industry, which is still recovering after the COVID-19 pandemic. Most tourism businesses are still suffering liquidity and labour shortages, he explained, while some are missing out on new opportunities. The council is tackling the problems by cooperating with the Office of SMEs Promotion to help entrepreneurs tap new trends like wellness- and metaverse-based tourism, he said, adding that it is also liaising with the Government Savings Bank and National Credit Bureau for access to … [Read more...] about Thailand expects to serve 30 million foreign arrivals this year

In 2022, Ho Chi Minh City's industrial food production recorded a significant increase of 30.5 per cent on-year. However, the industry is facing many fresh challenges this year due to fluctuations in the global economy affecting export markets and a slowdown in economic growth. Phan Van Co, marketing director of Vrice Group, said, "Since the beginning of the year, the cost of materials for rice production has increased considerably, by 3-5 per cent. While the price of rice has increased in many countries around the world, it has not increased as it has in the Vietnamese market, making it difficult for Vietnamese rice exporters to compete." In 2023, industry and trade in Ho Chi Minh City will strive for an increase in the index of industrial production of 7.5 per cent; growth in the total retail sales of social consumer goods of 12 per cent; and a 10 per cent jump in exports, excluding crude oil, through the city's port. The targets were set while taking such difficulties as the … [Read more...] about Ho Chi Minh City food enterprises hope expansion is key