It is now nearly impossible to buy a new apartment at the VND 2 billion mark. According to a report in 2022 from Rever, a Southeast Asia technology firm in real estate brokerage, for VND1.5-1.8 billion, one can buy a 30-55 square meter apartment built 6-10 years ago in Thu Duc City, on the secondary market. The average income of workers in Ho Chi Minh City (HCMC) this year is about VND148 million a year, according to property listing platform Batdongsan.com.vn. By that calculation, it will take up to 24 years to save, with no spending on anything, just to buy an apartment. The type of apartment used in this survey costs VND3.5 billion per unit. The data also shows that Vietnam ranks first in Southeast Asia in terms of the gap between house prices and average worker incomes. From 2018 to 2021, the ratio of the difference between real estate prices and the average income of Vietnamese has continuously increased, surpassing even Singapore. On the other hand, Indonesia, Malaysia and … [Read more...] about A laborer needs to save for 25 years to buy an apartment
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Tea export value to China skyrockets
Illustrative image (Photo: vov.vn) Hanoi (VNA) - The export value of Vietnamese tea to China in the first two months of this year quadrupled from the same period last year, according to the General Department of Vietnam Customs . China imported 426 tonnes of tea from Vietnam in the two months, representing rises of 121% in volume and 411.2% in value. The average tea export price in February alone surged by over 10% to more than 1,641 USD per tonne. China’s reopening of its border after the COVID-19 pandemic is the main factor behind the strong growth of tea exports to this huge market, reported the Ministry of Industry and Trade. Tea exports to Pakistan also enjoyed an upward trend, reaching 5,300 tonnes worth 9.4 million USD, up 5.8% in volume year on year. Although Taiwan (China) is Vietnam’s second largest tea consumer, tea exports to this market declined slightly over the two-month period. Statistics show Vietnam shipped 1,500 tonnes worth 2.4 million USD to … [Read more...] about Tea export value to China skyrockets
VN-Index extends its long winning streak
Logo of Vietcombank on its trading office in Tran Hung Dao Street, Ha Noi. The bank shares soared 2.25 per cent on Monday, led the market's bullish sentiment. — VNS Photo Ly Ly Cao Benchmark indices opened the week on a positive note, buoyed by the improvement of risk appetite. The VN-Index on the southern bourse Ho Chi Minh Stock Exchange (HoSE) ended Monday at 1,052.25 points, a gain of 5.46 points, or 0.52 per cent. It logged a long rising streak of five days with the market's breadth inclining to the uptrend. Meanwhile, liquidity increased slightly, of which over VND9.7 trillion (US$413.2 million) worth, equivalent to nearly 557 million shares, was traded on HoSE. The VN30-Index also advanced 5.03 points, or 0.48 per cent, to close the trading day at 1,056.45 points. Twenty of the 30 biggest stocks in market capitalisation of the VN30 basket jumped, of which one hit the ceiling price. Eight stocks declined while two stayed flat. On the Ha Noi Stock Exchange (HNX), the … [Read more...] about VN-Index extends its long winning streak
Visa upgrade at heart of fresh approach to tourism
Visas, service quality, and technology were all part of discussions on a better-performing tourism sector Photo: Cuong Minh May’s National Assembly session is likely to help push ahead a revamp of the country’s rules on entry and exit for foreign visitors, after the Ministry of Public Security crafts amendments to the current law. The development will be an important basis for the issuance of new regulations related to the visa policy, removing difficulties for the tourism industry, and creating conditions to attract more international visitors this year, according to most observers. Dang Tuan Viet, deputy director of the Ministry of Public Secrutity’s (MoPS) Vietnam Immigration Department, said that the proposal emphasised two major areas related to unilateral visa exemption and electronic visa policy. The MoPS also proposes to expand the number of countries that can issue e-visas from 80 countries to the maximum. The MoPS will also ask to increase the temporary stay … [Read more...] about Visa upgrade at heart of fresh approach to tourism
Vietnamese female entrepreneurs take the lead in boosting green growth
The event saw the participation of representatives from 31 women's associations from across the country. The seminar's aim was to promote sustainable growth and development within the female-led business community in Vietnam and share developments in sustainable practices and integrating environmental, social, and corporate governance (ESG). The conference was part of a larger sustainable business development initiative, officially launched by VAWE in 2022, that focuses on reducing emissions and negative impacts on the environment and society, as well as integrating ESG into corporate values. In attendance was Ton Ngoc Hanh, vice chairwoman of the Vietnam Women's Union, who said, "This seminar encourages a spirit of responsibility in Vietnam's female business community, showing the commitment and determination of everyone here to join hands with the government in achieving the goal of green growth, and to contribute effectively to sustainable development in the country. " Nguyen … [Read more...] about Vietnamese female entrepreneurs take the lead in boosting green growth
High-tech talent pool to aid transformation
Proposals relating to cooperation and encouraging foreign investors to join Vietnam’s innovation journey were addressed at some forums, including one at VIR’s headquarters and the annual Vietnam Business Forum (VBF) organised in Hanoi over a week back. Working groups of the Vietnam Business Forum touched on a variety of topics and recommendations for greater progress Photo: Dung Minh One particular area of discussion focused on the digital economy and tech such as blockchain. Do Tien Thinh, deputy director of the Vietnam National Innovation Centre (NIC) said at VIR’s forum on digital transformation on March 21 that the NIC is working with many big foreign technology groups to connect them with domestic enterprises to implement training courses and technical supporting programmes. Thinh said Google has implemented digital skill training courses for businesses, especially startups. In mid-2022, Google launched a certification initiative and Startup Academy Vietnam, … [Read more...] about High-tech talent pool to aid transformation
ATR 72-500 plane to be auctioned again
The Hanoi Justice Department’s Property Auction Centre will hold an auction for an ATR 72-500 plane at a starting price of VND136.6 billion (USD5.6 million), excluding taxes and fees. The Vietnam Aircraft Leasing Joint Stock Company (VALC) has authorised the department to conduct the auction. The plane was made in 2010 and has 68 seats. The ATR 72-500 plane People who want to join the auction have to deposit VND6.8 billion (289,361). They can directly check the plane at Tan Son Nhat International Airport in HCM City from March 24 to April 4. The auction will be organised in Hanoi on April 10. This plane has been auctioned eight times but failed to find a buyer. The first time was 2016 with a starting price of VND215 billion. In 2018, it was auctioned again at the price of VND189 billion. The plane was hired by national flag carrier Vietnam Airlines to run on routes to airports that cannot receive Airbus 320 aircraft, including Con Dao, Kien Giang, Ca … [Read more...] about ATR 72-500 plane to be auctioned again
Lang Son considers building four routes for panoramic geopark touring
The Dong Lam meadow in Huu Lung district, Lang Son . (Photo: VNA) Lang Son (VNA) – The northern mountainous province of Lang Son is working to complete a report on the addition of tourist attractions to the four sightseeing routes planned for its geopark area ahead of March 30, heard a working session on March 27. The session took place between the Lang Son authorities and a delegation of consultants for developing the geopark into a global one, led by Guy Martini , chairperson of the UNESCO Global Geoparks Council . Chairing the meeting, Permanent Vice Chairman of the provincial People’s Committee Duong Xuan Huyen took into account recommendations of the experts. He assigned localities involved to coordinate with the management board of the geopark to complete the report. On March 11-15, the delegation examined the current status of geological heritage, biodiversity, cultural heritage and tourism products in Lang Son city and the six districts of Loc Binh, … [Read more...] about Lang Son considers building four routes for panoramic geopark touring
Vietnam’s retail market proves attractive for foreign investors
People shop at a supermarket in Hanoi. (Photo: VNA) Hanoi (VNS/VNA) - Vietnam is becoming an attractive retail market for companies all over the world with many regional and global FDI investors recently announcing plans to increase capital and expand distribution networks here. According to the Ministry of Industry and Trade, the Vietnamese retail market is worth 142 billion USD and is expected to increase nearly 2.5 times to 350 billion USD by 2025. In January, total retail sales of consumer goods and services decreased by 6% on-month to more than 481.8 trillion VND (20.4 billion USD) due to weaker demand as many commodities were purchased ahead of the Lunar New Year. People spent more on festival activities post Tet, said the General Statistics Office. However, it still rose 13% year-on-year. For the first two months of the year, the country’s total retail sales of consumer goods and services advanced 13% over the same period of 2022 to over 994.1 trillion VND. … [Read more...] about Vietnam’s retail market proves attractive for foreign investors
Thua Thien-Hue, Laos’ Attapeu province strengthen cooperation
Secretary of the Thua Thien - Hue provincial Party Committee Le Truong Luu. (Photo: VNA) Thua Thien-Hue (VNA) – The cooperation between the central province of Thua Thien-Hue and Attapeu province of Laos has been strengthening and generating practical results in fields, Secretary of the Thua Thien - Hue provincial Party Committee Le Truong Luu said on March 27. At a working session with a Lao delegation led by Secretary of the Attapeu Party Committee and Governor of the province Let Xaynhaphon, Luu and his guest informed each other of their local socio-economic developments, administration and Party building work, and cooperation results over the past time. They also discussed cooperation opportunities in the coming time, and affirmed the two sides will further coordinate to finalise a draft cooperation agreement for the 2023-2027 period. They will effectively implement an agreement to manage and protect the borderline, prevent and fight against all kinds of cross-border … [Read more...] about Thua Thien-Hue, Laos’ Attapeu province strengthen cooperation