Industrial property

A building near Bến Thành Market in downtown HCM City whose construction stopped at the end of last year. The property market slump is expected to continue until the end of 2024. — VNS Photo Bồ Xuân Hiệp Despite the Government’s efforts to address them, the challenges for the property market will continue until the end of next year, experts have warned. Speaking at a forum late last week, Nguyễn Văn Đính, chairman of the Việt Nam Real Estate Brokers Association, said the market would continue to struggle with limited access to capital, legal bottlenecks and companies’ inability to redeem bonds. A recent survey by his association found over 70 per cent of businesses saying Government policies aimed at resolving funding difficulties have not been effective, he said. Real estate transactions have plummeted by 90 per cent in 2022-23, indicating weak market demand, he said. Even after almost five months since its announcement, the Government’s VNĐ120 trillion credit package has … [Read more...] about Real estate market challenges to continue until end of 2024: experts

If proper efforts are made, using film to promote tourism in Nha Trang might be successful. The coastal province of Khanh Hoa is like a miniature Vietnam, with diverse cultures, natural conditions and historical buildings. In addition, Khanh Hoa hosts popular film festivals and events that bring together actors and directors from other countries, boosting tourism and becoming an attractive destination like Cannes in France, Busan in South Korea, and Hollywood in the US. Do Le Hung Tu, Chairman of the Vietnam Film Association, shared the view following the success of the 2023 edition of the Golden Kite Film Award , which ended this month. The aerial view of Nha Trang City. Photo: Khanh Hoa Tourism Department Echoing Tu, Ta Quang Dong, Deputy Minister of Culture, Sports and Tourism said the Golden Kite Film Award is a great opportunity for experts and managers to work together and create new cultural projects to make Khanh Hoa's Nha Trang City a popular … [Read more...] about Nha Trang promises to be a city of cinema tourism

To date, carbon emissions from building operations have reached an all-time high of around 10 gigatons of CO 2 . This figure is an increase of about 5 per cent compared to 2020 and 2 per cent higher than the previous peak in 2019. Therefore, reducing carbon emissions in construction projects plays an essential role in achieving an overall reduction. The World Green Building Council (WGBC) has developed a vision and action framework up to 2030. In particular, all newly built construction projects must have zero operational carbon and reduce their associated energy by 40 per cent in terms of embodied carbon. By 2050, all buildings (both existing and new) must achieve-zero operational carbon, with new constructions having to achieve zero carbon content. Measured over the entire life cycle of the building, a zero-carbon construction is one with zero operating and zero embodied carbon. Diamond Lotus Riverside by PKP has been researched and applied many strategies to reduce … [Read more...] about Phuc Khang applies green building standards to reduce carbon emissions

An overview of the meeting between Prime Minister Pham Minh Chinh and Brazilian businesses . (Photo: VNA) Sao Paulo (VNA) – Prime Minister Pham Minh Chinh on September 24 asked Vietnamese and Brazilian businesses to concretise cooperation mechanisms with specific programmes and projects, with an aim to bring two-way trade turnover to 10 billion USD by 2025, and 15-20 billion USD by 2030 in a more balanced direction. PM Chinh, who is in an official visit to the South American country, stressed that after nearly 35 years of the establishment of diplomatic ties, the bilateral relations have developed positively in all fields. Vietnam and Brazil are currently each other's largest trading partner in Southeast Asia and South America, with their trade turnover reaching a record level of about 6.78 billion USD in 2022, up 6.6% year-on-year, and by threefold in the past decade. However, investment cooperation remains very modest, as Brazil currently has six valid projects … [Read more...] about Vietnamese, Brazilian firms asked to work together to raise trade to 10 billion USD

The latter half of the year is set for a substantial rebound, riding on the back of Q2's initial recovery signs. The bank's outlook for 2023 remains steady, with a GDP growth estimate of 5.4 per cent. Standard Chartered anticipates September’s figures to marginally outpace those of August, predominantly buoyed by retail sales. The forecast details an impressive 8.2 per cent annual growth in September's retail sales, though exports might dip by 6.2 per cent. Imports are slated to shrink by 7 per cent, while industrial production growth could see a surge to 3.2 per cent. Furthermore, the trade surplus might slim down to a mere $1.3 billion. The inflation index is set to tick up to 3.2 per cent on-year from August's 3 per cent, steered primarily by the education, housing, and food sectors. Conversely, transport-led inflation appears to be subsiding. In the tourism front, Vietnam welcomed approximately 7.8 million international travellers in 2023's initial eight months, closely … [Read more...] about Vietnam’s Q3 GDP poised for growth, Standard Chartered reports

Old artifacts are not only valuable, but also a keepsake for many families. Many people would be extremely sad if an artifact was damaged for some reason. In such cases, they may eventually find their way to an expert like Nguyen Khac Duy. Ten years ago, the man, now 34, who lives in Sa Dec City in the Mekong Delta province of Dong Thap, returned to his hometown after completing his military service and assisted his family business in trading artifacts. Noticing that the supply of artifacts was dwindling over time, Duy thought of finding solutions to repair damaged items, which would allow his family to sustain their business for a long time to come. Giving old things a second life In the early days of trying to repair damaged artifacts, Duy's lack of confidence meant he only fixed his own artifacts for fear of further harming customers’ precious items. However, after some time, as the artifacts he repaired became more common, more and more collectors came to ask him to … [Read more...] about In Vietnam, man gives artifacts a second life

Vietnamese Prime Minister Pham Minh Chinh called on Brazilian enterprises to beef up trade and investment activities in Vietnam to fully tap the great cooperation potential between the two countries, with the aim of boosting two-way trade to US$10 billion by 2025. PM Chinh was speaking at a powwow with representatives of Brazilian businesses in Sao Paulo on Sunday morning (local time) after he and his entourage arrived a day earlier for a four-day official visit at the invitation of President Lula da Silva. “The political relationship between our two countries is very good, but trade and investment relations are still not comparable, as there is still a lot of room for cooperation that has yet to be tapped,” the PM said at the event. Last year, the trade turnover between the two countries reached $6.78 billion, with Vietnam mainly importing from Brazil. Such bilateral trade remained modest as Brazil is the largest South American country with a population of 214 million people, … [Read more...] about Vietnam eyes $10bn trade with Brazil by 2025: PM Pham Minh Chinh

At the working session between Viglacera's delegation and representatives from the Venezuelan Ministry of Industries and National Production. — VNA/VNS Photo The Venezuelan government is willing to create the most favourable conditions for Viglacera Corporation JSC of Vietnam to enter its market, considering this as a motivation to further strengthen the traditional friendship between the two countries, said Jorge Márquez, Minister of Office of the Presidency and Monitoring of Government Management of Venezuela. Márquez, who is also Chairman of the Vietnam-Venezuela Intergovernmental Joint Sub-committee,welcomed the Vietnamese delegation and underscored the potential for collaboration in vital construction ventures. This partnership is crucial for Venezuela as it seeks to diversify its economy and reduce dependence on oil. Venezuelan Minister of Industries and National Production, José Félix Rivas Alvarado, echoed the sentiment of fruitful cooperation between the two nations. … [Read more...] about Viglacera Corporation JSC eyes Venezuelan market

Vietnam and Brazil would help each other get into large, dynamic regional markets. Vietnam and Brazil are important to each other in facilitating economic cooperation in the regional markets in which they are represented. Vietnam's Prime Minister Pham Minh Chinh and Brazilian businesses in São Paulo on Sept 24 local time . Photos: Nhat Bac/VGP Vietnamese Ambassador to Brazil Pham Thi Kim Hoa commented on Prime Minister Pham Minh Chinh’s ongoing official visit to Brazil at the invitation of President Luiz Inácio Lula da Silva. She said Brazil is Vietnam’s gateway to Latin American markets , whereas Brazil’s businesses use Vietnam as their entry point into the ASEAN market and other Asian nations. Brazil, with a market of more than 200 million people, has potential for Vietnam and is the leading partner in Latin America. Brazil is Vietnam’s biggest trade partner in Latin America, with a two-way trade of US$6.78 billion in 2022. Vietnam’s export staples … [Read more...] about Vietnam-Brazil relations: Gateways to regional markets

At the forum, held also thanks to the Swiss State Secretariat for Economic Affairs and the Australian Department of Foreign Affairs and Trade, speakers emphasised the substantial challenges faced by the climate finance sector in Vietnam in aligning significant investment opportunities with environmental objectives. This sentiment was shared by Allen Forlemu, the IFC's regional industry director for Financial Institutions Group, Asia-Pacific, when he said, “It is evident that climate change is an increasingly disruptive factor for Vietnam's economy, and the costs are already starting to undermine growth. In 2020, Vietnam lost $10 billion, or 3.2 per cent of its GDP, to climate change impacts.” “If nothing is done, costs will only rise. In a business-as-usual scenario with limited global mitigation efforts, climate change could cost Vietnam up to 14.5 per cent of GDP annually in roughly 30 years, with the potential to push a million people into extreme poverty in less than a decade,” … [Read more...] about Forum discusses impact of climate change