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HCMC helps real estate firms to ride out difficulties The Saigon Times HCMC chairman Nguyen Thanh Phong speaks at the meeting – PHOTO: NLD HCMC – HCMC leaders, including the city’s Chairman Nguyen Thanh Phong, Vice Chairman Le Hoa Binh and heads of departments, held a meeting with 16 real estate firms on February 27 to help them ride out their difficulties. Deputy director of the HCMC Department of Construction Huynh Thanh Khiet said the real estate supply in 2020 dropped 34% year-on-year. As investors have focused more on the up-market segment, the proportion of newly developed luxury apartments and medium apartments jumped from 25% to over 41% and from 23.8% to 57%, respectively. Meanwhile, that of budget apartments dropped from 51% to 1%. A representative of Novaland Group said some of the group’s projects are facing difficulties related to construction permits, house ownership certificates or legal procedures of the Thu Thiem new urban area. “We hope that the Government and leaders of the city and departments will help us promptly resolve problems, enabling us to speed up our projects. This will help provide more products for the real estate market, meet the demand of the citizens, improve social security and contribute to the state’s budget,” he said. Le Huu Nghia, director of Le Thanh Real Estate Company, said his company’s social housing projects have faced difficulties related to the legal procedures and tax policies. The time set for completing social housing project procedures has been shortened from between three and five years to 11 months but poor coordination between departments and districts may lengthen the process. A representative of Thao Dien Real Estate JSC said the company has completed all procedures required by the relevant agencies. However, the land has not been handed over to the company to build a social housing project over the past 10 years. Addressing the meeting, chairman of the HCMC Real Estate Association …

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An overview of the Aqua City project developed by Novaland in the southern province of Đồng Nai. Novaland is among companies whose capitalisation is valued at billions of dollars on the market. — Photo novaland.com.vn HÀ NỘI — Việt Nam's stock market reached approximately 87.68 per cent of the country’s Gross Domestic Product (GDP) as of the end of 2020, the highest rate reported so far. The other two high rates recorded were in August 2018 at 84.57 per cent and March 2018 at 83.08 per cent. Including the government bond market and corporate bond market, the value of Việt Nam’s entire stock market by the end of 2020 exceeded 110.64 per cent of GDP, this is also the highest rate ever recorded. New cash flow continuously pouring into the market since the second half of 2020 has boosted liquidity. December 2020 and January 2021 were two months witnessing record matching value, of more than VNĐ250 trillion (US$10.8 billion) and more than VNĐ300 trillion on the Hồ Chí Minh City Stock Exchange (HoSE), respectively. However, skyrocketing liquidity has far exceeded market forecasts, leading to frequent congestion in many sessions, causing a lot of trouble for investors and affecting the quality of the market. The sudden increase in liquidity is unpredictable, causing undesired interruptions in trading, according to HoSE. To tackle this issue, the State Securities Commission said it was speeding up the implementation of a new information technology system for the entire stock market, known as KRX. The Vietnamese stock market has experienced a year of spectacular recovery from the bottom caused by the COVID-19 crisis, a trend that is in parallel with most of the major stock markets in the world. Since the bottom at the end of March 2020, the VN-Index has increased by nearly 50 per cent. Billion-dollar companies So far, the Vietnamese stock market recorded 38 companies whose value reaches billions of dollars. Vingroup is valued at $15.95 billion …

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Lodgis Hospitality's long-term vision and invesment strategy for vietnam's tourism market Lodgis Hospitality, the investment partnership between the leading global private equity firm Warburg Pincus and Vietnam’s leading investment manager, VinaCapital, is focused on Vietnam’s tourism industry, with the strategic aim to support the development of Vietnam as an international tourism destination by delivering a range of high-quality hospitality real estate developments and services. Vietnam - a timeless charm Vietnam - a truly fascinating country, offers a 3,260km coastline, connecting the North and South with white-sand beaches. Beyond its significant coast, the country boasts overlapping ranges of mountains, primeval forests, and world famous caves.  The destination is also known for its rich history, deep culture and arts, and unique street food cuisine.  More than its diverse natural landscape, Vietnam also has vibrant cosmopolitan cities such as Hanoi and Ho Chi Minh, each with its own distinct ambience and rhythm. Hanoi offers a traditional setting with heritage dating back 1,000 years. Ho Chi Minh City is a high-energy urban and business center with skyscrapers and a bustling streetscape. There are also the idyllic landscapes of the Vietnamese countryside and craft villages. These include bountiful fruit orchards across the Mekong Delta; narrow Hoi An streets adorned with bright red Bougainvillea trellises of ancient yellow houses; and, the terraced paddy fields in Sapa. Vietnam and its timeless beauty. Vietnam has become one of the top destinations in the Asia-Pacific region, attracting tourists from all over the world. The U.S - based Go Overseas website ranked Vietnam 8th in its list of top 10 travel destinations for 2019, saying the nation is “filled with beauty at every turn”. As a home to eight UNESCO World Heritage sites, Vietnam was also rated as one of the 10 most unique destinations in Southeast Asia in 2019 by The …

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