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Myriad of incentives made in order to tempt office tenants, illustration photo/ Source: freepik.com Hoai Nam, founder of media startup 4-Star, based in Ho Chi Minh City with less than 10 employees, last month received a notice of incentives for services such as extra meeting room hours, and more printing and photocopying credits at his co-company’s working space in District 4. Each month, Nam pays VND3 million ($125) per person excluding taxes and fees for his work location in District 4. The rate was reduced by 25 per cent two years ago. “With the same space, it cost $333 per person in District 1, and I could not afford it. Everyone is cutting costs as it is such a difficult time,” Nam said. In addition to reducing rates, Nam said her landlord was improving facilities and service incentives, so that tenants could extend their contract for a longer term. For example, more greenery is being arranged between desks, and free parking is now offered. Knight Frank Vietnam in … [Read more...] about Myriad of incentives made in order to tempt office tenants

In the article, author Gary Lit Ying Loong, who is a retired academic from Nanyang Technological University, (NTU) Singapore, and now a visiting professor at some universities in Asia and Europe, highlighted Vietnam's economic growth with consistent gross domestic product (GDP) growth of about 6% for many years, thanks to Doi moi (Renewal) policy. The Doi Moi policy helped to inject a newfound dynamism into Vietnam's economy in the late 1980s. The momentum for a market-driven economy accelerated further in the 1990s. According to the article, following market reforms, billions of overseas investments began pouring into the country. Among them are those by Gamuda Land, Petronas, and Sunway group from Malaysia and the Vietnam-Singapore Industrial Parks (VSIP). It has helped to attract billion-dollar investments from Samsung, Nike, Adidas, and others. Besides, an abundant young workforce has helped power the country's labor-intensive manufacturing sector. “Vietnam is now a rising … [Read more...] about Vietnam – a rising star in the world: Malaysian newspaper

Giants lead green packaging future, illustration photo/ Source: freepik.com About 450 businesses from more than 30 countries and territories will gather for the 16th edition of ProPak in Ho Chi Minh City in November to establish a panorama of equipment and new technology in future food processing and packaging. The exhibition will offer a dynamic business platform that is shaping the future of the processing and packaging industries, particularly in an industry closely impacting the environment like packaging. Food packaging currently accounts for 30-50 per cent of the total packaging industry space, according to statistics from the Ministry of Industry and Trade, leading to a strong symbiotic relationship between the two fields of food and packaging. According to German data provider Statista, the packaging sector has been growing on-year with an average rate of 15-20 per cent, in parallel with the average increase of about 10 per cent of the food and beverages market over … [Read more...] about Giants lead green packaging future

At the 2023 Australian Investment Forum in Ho Chi Minh City last week, deputy director Vu Van Chung of the Foreign Investment Department under the Ministry of Planning and Investment noted that Vietnamese businesses are now well-equipped to venture into major economies, no longer limiting their focus solely to countries of similar economic stature. One-on-one meetings with representatives from Australian states and territories were held within the Forum. Photo: Australian Embassy in Vietnam “Traditionally, we’ve collaborated with nations matching our development level, management capabilities, and potential,” Chung said. “However, in the past five years, investments from Vietnamese firms have witnessed unprecedented growth in both quality and quantity.” With its burgeoning economic development, Vietnam offers myriad collaboration and international integration opportunities. “Currently, we have approximately 850,000 enterprises, with ambitions to expand this figure … [Read more...] about Australian presence apparent in quality and quantity

The three-day conference is being held by the International Air Transport Association (IATA) with Vietnam’s national flag carrier Vietnam Airlines acting as the host. Themed “Leadership in Action: Driving Safer and More Efficient Operations,” the event has brought together more than 800 delegates from airlines worldwide and international organizations in the aviation sector. Deputy PM Quang stressed that the Vietnamese Government has regarded the aviation sector as one of the economic engines that plays an important role in promoting trade and economic ties and tourism development. For his part, Minister of Transport Nguyen Van Thang briefed the participants on achievements reaped by the Vietnamese aviation sector, saying no commercial airplane accidents have been reported over the past 25 years, and all of the domestic airlines have received operational safety certificates from the IATA. Dang Ngoc Hoa, Chairman of the Board of Directors of Vietnam Airlines, highlighted the … [Read more...] about World Safety and Operations Conference kicks off in Hanoi

Tourists experience the 5-star service at Wyndham Thanh Thuy Mineral Hot Spring Resort in Thanh Thuy district. (Photo: wyndhamthanhthuyresort.net) Phu Tho (VNA) – Boasting hot springs and unique historical and cultural relics , Thanh Thuy district in the northern midland province of Phu Tho is striving to turn tourism into one of its spearhead economic sectors, raising income for local residents. The district has poured capital into upgrading roads that link local key tourism sites with inter-provincial routes to facilitate traveling and attract investment into tourism projects. Thanh Thuy has lured more than 7 trillion VND (286 million USD) into the tourism sector since 2020. Thus, the infrastructure system serving tourism has been gradually improved. High-quality tourism products are being developed, along with building brands for the district’s tourism products. Vuon Vua Resort & Villas, a popular destination in Thanh Thuy district (Photo: … [Read more...] about District in Phu Tho province taps into hot springs to boost tourism

The International Finance Corporation (IFC), a member of the World Bank Group, announced on Tuesday that it is investing up to VND3.5 trillion (US$150 million) in Vietnam's first-ever local currency sustainability-linked bonds (SLBs) issued by BIM Land Joint Stock Company and its subsidiary, Thanh Xuan Joint Stock Company. The first local currency SLBs in Vietnam aim to help issuers expand their businesses while creating jobs, boosting competitiveness, and supporting the country's low-carbon growth model. IFC's investment comprises two subscriptions—over VND2.3 trillion (about $100 million) to be issued by BIM Land, a tourism and property developer in Vietnam, and nearly VND1.2 trillion (about $50 million) to be issued by Thanh Xuan Joint Stock Company. Both the issuers are subsidiaries of BIM Group, a multi-sector corporation in Vietnam. The proceeds will be used to develop the Thanh Xuan valley project in northern Vinh Phuc Province, including an eco-friendly and unique … [Read more...] about IFC invests in Vietnam’s first local currency sustainability bonds