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The demand for Vietnam’s IP land rentals will sharply grow in 2023 thanks to policies promoting a return to investing in the Southeast Asian country. The industrial property segment is predicted to continue to be a bright spot in Vietnam’s real estate market in the coming years after reaching impressive growth in 2022, local insiders said. Benefiting from the ex isting land bank Many IP developers earn profit from developing IP projects. Photo: Cong Hung A recent report on the industrial real estate industry of VNDIRECT Securities predicted that by 2023, the net profit of listed IP developers is expected to grow by around 12% year-on-year. "We see more challenges for IP developers in the next two years due to the slow project approval process and limited funding sources. However, this is likely to turn into opportunities for developers that own ready-to-lease land banks, such as Becamex IDC Corporation (BCM)," the report noted. "We believe that … [Read more...] about Vietnam’s industrial property – promising segment in 2023

Government bond is an important source of revenue for the state budget and supports the development of the capital market. The Vietnam State Treasury (VST) is expected  to raise VND400 trillion (US$17 billion) by issuing Government bonds via auctions at the Hanoi Stock Exchange (HNX) in 2023. Government bonds remain a key source for the state budget. Photo: Viet Dung Under the plan, the agency is set to issue bonds worth VND108 trillion ($4.6 billion) in the first quarter of this year. This would include bonds with five to seven-year maturity of VND8 trillion (US$341.5 million), 10-year maturity of VND45 trillion (US$1.9 billion), 15-year maturity of VND45 trillion (US$1.9 billion), 20-year maturity of VND5 trillion (US$213.2 million) and 30-year maturity of VND5 trillion (US$213.2 million). VST noted adjustments may be made to stay in line with the actual situation of the market and Gov’t expenditure needs, especially the disbursement progress of public … [Read more...] about Vietnam State Treasury to raise US$17 billion through Gov’t bonds in 2023

Vietnam set a target to earn US$393-394 billion in export revenue in 2023, up $22 billion or six percent over last year, said Phan Van Chinh, head of the Agency of Foreign Trade under the Ministry of Industry and Trade. At a conference on domestic production and consumption promotion and export market expansion held by the Ministry of Industry and Trade on Friday, Chinh said that the target is challenging as the local export sector has been facing many shortcomings, such as high but unsustainable growth and trade deficits with some large markets. To reach the target, the industry and trade sector should take measures to boost exports, and bilateral and multilateral cooperation activities to seek new markets and exploit the export potential of sectors in which Vietnam has advantages, Chinh added. In addition, it is essential to foster trade promotion in the domestic market and the distribution of goods via digital and e-commerce platforms to encourage consumption and develop … [Read more...] about Vietnam eyes up to $394bn in export revenue in 2023

VnExpress Marathon will bring a much-awaited tournament for runners for the first time in HCMC. Some 10,000 participants will take part in the tournament as well as learn about the city's local customs, cuisine, and tourism. Two racers share a kiss at the VnExpress Marathon Hanoi Midnight 2022 finish line. Photo by VM Exploring a city that never sleeps Saigon is known as the Vietnamese city that never sleeps. Runners will have the chance to experience the city's commotion throughout the route, regardless of the time. The first 5 kilometer pass through the streets of Nam Ky Khoi Nghia, Dong Khoi, Ton Duc Thang, and Nguyen Hue, where the bustle is most obvious. These streets are home to several well-known attractions and restaurants. Runners can easily spot young people conversing over coffee, chatting with each other at the Notre-Dame Cathedral at midnight, or hear the energetic beat from street dance groups on the walking street at 1 a.m. District … [Read more...] about Four reasons to attend VnExpress Marathon Ho Chi Minh City Midnight

Accor Vietnam intends to double the number of international-standard hotel s in Vietnam. - Illustrative image (Photo: baodautu.vn) Hanoi (VNA) - Accor Vietnam and IHG Hotels & Resorts – the world’s leading hotel businesses operating in Vietnam announced that they intend to double the number of international-standard hotels in the Southeast Asian nation in the next five years. Representatives of Accor and IHG said Vietnam is a very attractive country to invest in, and foreign investment has been quite robust over the past few years. There is huge potential for developing the hotel sector in the Southeast Asian nations. Xavier Cappelut, Vice President of Operations of Accor Vietnam, said the firm has plans to welcome 41 more hotels and resorts in its chain in Vietnam within the next five years. The hotel market received a great number of domestic visitors from the first half of 2022 due to the loosening of pandemic regulations, he said, adding that the demand has … [Read more...] about World’s leading hotel groups to double down on investment in Vietnam

President Joe Biden said he had issued an order on Wednesday to take down the balloon, but the Pentagon had recommended waiting until it could be done over open water to safeguard civilians from debris crashing to Earth from thousands of feet (meters) above commercial air traffic. "They successfully took it down, and I want to compliment our aviators who did it," Biden said. Multiple fighter and refueling aircraft were involved in the mission, but only one -- an F-22 fighter jet from Langley Air Force Base in Virginia -- took the shot at 2:39 p.m. (1939 GMT), using a single AIM-9X supersonic, heat-seeking, air-to-air missile, a senior U.S. military official said. The balloon was shot down about six nautical miles off the U.S. coast, over relatively shallow water, potentially aiding efforts to recover elements of the Chinese surveillance equipment in the coming days, officials said. The shootdown came shortly after the U.S. government ordered a halt to flights in and out of … [Read more...] about US fighter jet shoots down suspected Chinese spy balloon with missile

Foreign Minister Bui Thanh Son (R) meets with his Philippine counterpart Enrique A. Manalo (Photo: VNA) Jakarta (VNA) - Foreign Minister Bui Thanh Son met with his Cambodian, Philippine and Malaysian counterparts on February 3 on the sidelines of the 32nd ASEAN Coordinating Council Meeting ( ACC-32 ) in Jakarta, Indonesia. During their meeting, FM Son and Cambodian Deputy Prime Minister and Foreign Minister Prak Sokhonn were pleased with the fruitful developments of the bilateral relationship in recent times, and agreed to continue promoting the exchange of high-level visits via all channels, enhancing people-to-people exchange; maintaining and optimising the effectiveness of existing bilateral cooperation mechanisms; fostering economic connections; strengthening cooperation between localities, especially those that share borders; and exerting effort to speed up tourism recovery. Foreign Minister Bui Thanh Son (L) and Cambodian Deputy Prime Minister and Foreign Minister … [Read more...] about FM meets Cambodian, Philippine, Malaysian counterparts