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The market in new urban areas is set to become more active Photo: Le Toan March has seen a flurry of activity in welcoming quality real estate products in Vietnam. Singaporean group CapitaLand Development, saw all of [email protected] West Lake booked up after being introduced to the market on March 19. The Elysian project developed by Gamuda Land is also reportedly being well observed by buyers due to the prestige of the developer, the good location, and high quality of the project. Domestic groups are also joining the rush. Nam Long Investment JSC said that the business is implementing a series of plans in 2023, in which priority is being given to ventures in large urban areas such as Waterpoint, Mizuki Park, Nam Long Can Tho, Nam Long Dai Phuoc, Akari City, and Izumi City. Meanwhile, Hung Thinh Land introduced the 9X An Suong project in the northwest of Ho Chi Minh City. In the southern province of Binh Duong, Phu Dong Group is about to open for sale an apartment project … [Read more...] about Positive real estate signs march ahead

On March 26, HoREA sent a document to Prime Minister Pham Minh Chinh to propose some solutions for credit and project transfers to remove difficulties in the real estate market. According to HoREA, Decree No.08/2023/ND-CP has had a positive impact on the confidence of the market and its investors. This is the legal basis to pave the way for a negotiated agreement between the companies that have issued upcoming bonds and the bondholders. The decree, dated March 5, focuses on amending, supplementing, and ceasing the effect of a number of articles in previous decrees on the private placement of corporate bonds and the trading of privately placed corporate bonds on the domestic market, along with the offering of corporate bonds on the international market. These mechanisms and policies will remove the difficulties businesses have issuing bonds that are about to come due and support bondholders, while at the same time creating favourable conditions for the transfer of … [Read more...] about HoREA proposes extension of repayment schedules for businesses

Nalin Wickramasingher, Powerledger's BD and Sales Executive, and Le Thi Phuong Cam (L), EVNCPC's Deputy General Director, announced the partnership. (Photo courtesy of Powerledger) Hanoi (VNS/VNA) - Australian energy trading technology company, Powerledger, on March 28 announced it’s partnering with Vietnam Electricity Central Power Corporation (EVNCPC) to launch Vietnam's first peer-to-peer (P2P) energy trading project at the Australia-Vietnam Forum on Energy Transition. The initial 6-month trial will see Powerledger’s technology used by so-called “prosumers” with rooftop solar in central Da Nang city and Quang Nam province to sell electricity directly to consumers. “This project is a major step for Vietnam. It will showcase how, with the right technology, issues of intermittency and grid congestion can be overcome whilst still growing renewables. Everyone on both sides of the partnership is looking forward to the results,” said Powerledger Chairman Dr Jemma Green. … [Read more...] about Vietnam’s first blockchain peer-to-peer energy trading project launched

This year, difficulties from within the economy will continue to affect the retail industry and demand is expected to continue to decline. How does AEON Vietnam think 2023 will shape up in general? Furusawa Yasuyuki, general director of AEON Vietnam Although there are many difficulties, I think the economic growth rate in 2023 will remain at a stable level, reaching the growth target set by the Vietnamese government. However, recently, rising raw material prices have significantly affected the lives of consumers. This will also be one of the factors affecting consumption trends in 2023. Besides that, due to the influence of inflation in Europe and the US, the number of export orders from Vietnam decreased sharply. Some businesses are forced to cut labour and reduce working hours, greatly affecting the economy and the lives of workers - as well as the consumers. I think, within in the first half of this year, there will still be many difficulties and those may take … [Read more...] about Bringing the standards and quality of Japanese retail brands to Vietnam

In 2008, the US investment bank Bear Stearns, on the verge of collapse, had to be rescued by J.P. Morgan. This marked the beginning of the global financial crisis of 2008, which sent the global economy into a deep recession and caused significant economic damage, including massive employment losses. Patrick Lenain, senior associate at the Council on Economic Policies Today, several banks are once again in trouble. As of March 22, four large banks were in distress. Silicon Valley Bank (SVB), a $212 billion US bank specialising in tech startups, collapsed when it was unable to meet deposit withdrawal requests and had to be taken over by federal regulators. A few days later, Signature Bank, another midsized US bank with assets of $110 billion, also suffered a severe liquidity crisis and was seized by federal regulators. This was followed by First Republic Bank with assets of $205 billion, which was hit by rating downgrades and a tumbling share price and had to be … [Read more...] about Developments for Vietnam to watch in midst of bank crisis

A customer chooses Masan's products at a supermarket. The company's shares jumped 1.55 per cent on Wednesday, supporting the rally trend. — Photo courtesy of Masan Stock markets were mixed on Wednesday with the VN-Index extending its rallies, but gains were capped as investors were more cautious after GSO had revealed data showing that the economy grew modestly in the first quarter. The market's benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 2.04 points, or 0.19 per cent, to close Wednesday at 1,056.33 points. The index inched higher, despite the fact that there were more stocks performing poorly, thanks to gains of large-cap stocks, and marked its seven days of the rally. On the southern bourse, 128 stocks increased while 176 ticker symbols went down. Liquidity fell sharply compared to Tuesday's trading day, of which the trading value of HoSE dropped by nearly 26 per cent over the previous session to more than VND8.3 trillion (US$353.4 million). The … [Read more...] about Investors turn caution after GDP data, liquidity falls sharply

A bank employee handles cash. The corporate bond market has flourished with an estimated annual issuance value of over VND500 trillion (US$21.9 billion) in 2021. — VNA/VNS Photo The State Bank of Viet Nam has unveiled a preliminary revision to Circular 16, requesting public input on proposed modifications that would permit credit institutions to procure corporate bonds as a means of boosting liquidity in the corporate bond market. The revision corresponds to Decree 08 of the Government, which went into effect on March 5 and aims to address bottlenecks in the corporate bond market. Circular No. 16/2021/TT-NHNN, issued on November 10, 2021, delineated principles for the acquisition and sale of corporate bonds by credit institutions. The preliminary revision aims to clarify and expound on various components of Circular 16 to avoid ambiguities and gaps. The notable changes include more specific regulations for banks in investing in corporate bonds, such as banks’ responsibility … [Read more...] about SBV’s draft regulations encourage banks to support corporate bond market