Ending year quotes

Famous names in the market include Keppel Land and CapitaLand, with the first high-end real estate projects in the country such as The Estella and The Vista. The total supply of high-end apartments in Ho Chi Minh City as at the end of 2007, at approximately 1,700 units, of which about 1,000 units were from FDI projects, was a very small proportion compared to the city's population of 6.85 million at that time. “Since the market share of FDI projects is not high, the average price of high-end primary stocks in 2007 was at US$2,800 per sq m (at an exchange rate of VND16,112), representing an increase of 86 percent compared with sales launches in the previous year,” according to Khanh Nguyen, Associate Director, Capital Markets of Vietnam, at JLL.  “This created a supply-demand imbalance that pushed prices beyond the affordability of homebuyers with real demand. There has been a long queue of buyers trying to compete for the very limited availability of these … [Read more...] about High-end residential the top choice of foreign investors

Of the above figure, shrimp exports are expected to rise 26% to US$4.8 billion, tra catfish (up 10% to US$2 billion) and tuna and other seafood products (up 22% to US$3.3 billion). To this end, the seafood sector has to step up trade promotion, advertise the image of Vietnamese seafood products in international markets, overcome anti-dumping duty barriers on shrimp and tra catfish in the US market and ensure sustainable sources of domestic seafood. Despite a demanding target of nearly US$5 billion in shrimp export value, the sector believes in its success thanks to stable market demand and world prices. Shrimp exports jumped 20.2% to US$743 million in the first quarter of this year with top ten importers as the EU, the US, Japan, China, the Republic of Korea (RoK), Australia, Canada, ASEAN, Taiwan, and the Switzerland, who accounted for 89.3% of Vietnam’s total shrimp export value. The EU remains the largest consumer of Vietnamese shrimps, making up 18.2% of the total export … [Read more...] about Seafood exports target US$10 billion this year

The shoe factory of the Ha Tay Chemical Weave Co. Ltd in Hanoi's Ba Vi district (Photo: VNA) Hanoi (VNA) – With a record trade surplus of 9.12 billion USD over the first 11 months and year-on-year export growth of 7.8 percent, experts believe that 2019 will be the fourth straight year Vietnam will post a trade surplus. According to the Export-Import Department under the Ministry of Industry and Trade, the country shipped 241.42 billion USD worth of goods abroad between January and November, up 7.8 percent from the previous year.  That included 74.72 billion USD exported by domestic businesses and 166.7 billion USD (including crude oil) from foreign invested firms, rising 18.1 percent and 3.8 percent, respectively. The domestic sector’s proportion of total export revenues also increased to 30.95 percent from 29.16 percent. Meanwhile, imports have reached 232.31 billion USD so far this year, up 7.4 percent year on year. The figure includes 98.2 billion USD by … [Read more...] about Vietnam likely to post trade surplus for fourth straight year

Illustrative image  An article published by the website on May 9 said the threat of a bad report card from the European Union (EU) has alarmed more than 30,000 Vietnamese commercial trawlers. It quoted Tony Long, former Director of the World Wildlife Fund’s European Policy Office and senior fellow of the Global Government Institute, as saying that the EU carding system to drive out illegal fishing is showing it has teeth, adding that countries are terrified that the ultimate sanction, the red card, imposes potentially enormous financial sanctions and significant risks. The article said, citing source as the Vietnam Association of Seafood Exporters and Processors (VASEP), that fishing is a cornerstone of Vietnam’s economy and since 2006, the nation has been globally ranked among the top 10 exporting countries in fisheries.  The article said Vietnam’s Ministry of Agriculture and Rural Development (MARD), the Directorate of Fisheries and VASEP have … [Read more...] about Global Policy Journal: Vietnam may become model of anti-IUU fishing

Cars from Thailand led the market in the first 10 months of 2019, while fewer Chinese products have been imported because of the controversy about China's map with nine dash line. Thailand remains the biggest CBU (complete built unit) car supplier for Vietnam. According to the General Department of Customs (GDC), 69,000 cars were imported from the market in the first 10 months of 2019, valued at $1.4 billion. Chinese products, in Vietnamese thoughts, utilize backward technology and have low quality. Therefore, Chinese cars are not favored in Vietnam. Now, the scandal about the map with the nine dash line has made the situation of Chinese cars even more serious. Dat Viet quoted an officer of a car company specializing in importing Chinese cars as saying that after the map with nine dash line was discovered, more time is needed to get customs clearance. Thanh Lich Will Chinese cars flood the Vietnam market? Car dealers have halted the import of Chinese cars but are expected … [Read more...] about Cheap Thai cars land in Vietnam, Chinese imports stop suddenly