Rising e commerce trend

The president of the Korean Chamber of Commerce in Vietnam (KOCHAM) has asked the Ho Chi Minh City government to assist South Korean enterprises in alleviating their cost burden in the current difficult period. KOCHAM President Shon Young Il made the request at a dialogue session between the city government and South Korean enterprises, held on Friday by local authorities in coordination with the Consulate General of South Korea in the southern metropolis. Speaking at the event, chaired by the municipal People’s Committee chairman Phan Van Mai, the KOCHAM leader said Korean businesses are facing a lot of pressure while trying to recover from the COVID-19 pandemic and cope with impacts caused by the ongoing Russian-Ukraine military conflict and the inflation risk. Therefore, he hopes that the Ho Chi Minh City administration can support Korean businesses in reducing their cost burden in this tough period. Specifically, local authorities should assist Korean businesses in solving … [Read more...] about S. Korean firms in Ho Chi Minh City seek help to ease rising cost burden

Headquarter of Viettel Group in Hà Nội. Việt Nam should have a strategy to promote the development of green buildings, a vital part of achieving the country's environmental goals. — Photo kinhtedothi.vn HÀ NỘI — Developing energy-efficient buildings is an inevitable trend for Việt Nam to achieve its environmental objectives. The energy used by high-rise buildings in Việt Nam accounts for around 35-40 per cent of the country’s total energy consumption. A survey by real estate service firm Cushman & Wakefield (CWK) showed that around 40 per cent of gas emissions came from real estate. According to the Việt Nam Green Building Council, there are about 200 green buildings across the country. At the United Nations Climate Change Conference in 2021 (COP26), Việt Nam committed to achieving net-zero carbon emissions by 2050. To achieve the environmental goals, Việt Nam needs to develop more energy-saving buildings that are high quality to reduce the negative impact on the … [Read more...] about Energy-efficient buildings on the rise in Việt Nam

Headquarter of Viettel Group in Ha Noi. Viet Nam should have a strategy to promote the development of green buildings, a vital part of achieving the country's environmental goals. — Photo kinhtedothi.vn Developing energy-efficient buildings is an inevitable trend for Viet Nam to achieve its environmental objectives. The energy used by high-rise buildings in Viet Nam accounts for around 35-40 per cent of the country’s total energy consumption. A survey by real estate service firm Cushman & Wakefield (CWK) showed that around 40 per cent of gas emissions came from real estate. According to the Viet Nam Green Building Council, there are about 200 green buildings across the country. At the United Nations Climate Change Conference in 2021 (COP26), Viet Nam committed to achieving net-zero carbon emissions by 2050. To achieve the environmental goals, Viet Nam needs to develop more energy-saving buildings that are high quality to reduce the negative impact on the environment, … [Read more...] about Energy-efficient buildings on the rise in Viet Nam

Matthew Powell, director of Savills Hanoi How does Savills assess the trends and demand for office real estate going forward? Matthew Powell: It's really positive that the demand has been so strong post-pandemic. For the most part, many companies have survived well and on return to the office, everything has gone smoothly – especially in sectors such as technologies, IT, insurance, and manufacturing. Foreign direct investment has been a big demand driver for office space, so we've been very pleasantly surprised to see that. All the new office space we're working on has been expanding into nicer offices or been from new companies opening for the first time in Vietnam. Vietnamese corporates are expanding, so on the demand side, it's been very encouraging. For example, we're expanding our office this year and moving to a hybrid working style as well, so there has been a change in the way offices are used. How do you see the movement of office real estate and its … [Read more...] about Rising demand for green-certified office spaces and hybrid working: Expert perspectives

Headquarter of Viettel Group in Hanoi. Vietnam should have a strategy to promote the development of green buildings, a vital part of achieving the country's environmental goals. - Photo kinhtedothi.vn The energy used by high-rise buildings in Vietnam accounts for around 35-40 per cent of the country’s total energy consumption. A survey by real estate service firm Cushman & Wakefield (CWK) showed that around 40 per cent of gas emissions came from real estate. According to the Vietnam Green Building Council, there are about 200 green buildings across the country. At the United Nations Climate Change Conference in 2021 (COP26), Vietnam committed to achieving net-zero carbon emissions by 2050. To achieve the environmental goals, Vietnam needs to develop more energy-saving buildings that are high quality to reduce the negative impact on the environment, and save maintenance and repair costs and future energy use. According to CWK, the urban ecosystem development, … [Read more...] about Energy-efficient buildings on the rise in Vietnam

The jack-up rig PV Drilling VI. PV Drilling climbed up to 7 per cent yesterday, supporting the market's bullish trend.- Photo pvdrilling.com.vn On the Ho Chi Minh Stock Exchange (HoSE), the market benchmark VN-Index settled higher, ending its four-day losing streak. The index surged 19.61 points, or 1.68 per cent, to 1,188.88 points. The market's breadth returned to a positive zone with 318 stocks gaining points, of which 50 stocks hit the biggest daily increase of 7 per cent, while 153 stocks declined. However, liquidity remained at a low level, of which the matching value on the southern bourse was just VND8.86 trillion (US$381 million), equal to a matching volume of 380 million shares. The index's reversal was driven by the improvement of risk appetite. The VN30-Index rose 13.41 points, or 1.09 per cent, to 1,240.58 points. Twenty of the 30 biggest stocks in the VN30 basket inched higher on Thursday, of which two stocks registered the maximum intraday gain of 7 per … [Read more...] about VN-Index rises sharply on back of high risk demand

In a recent report, the Singapore-based United Overseas Bank noted that Vietnam continued its development trend in the second quarter of 2022. In the first six months of this year, the production sector recorded a 9.2 percent rise year-on-year. Based on its latest data and analysis of upcoming challenges, the report maintained its prediction for Vietnam’s GDP growth this year at 6.5 percent, and 7.6 percent in the third quarter of 2022. However, the bank experts held that a number of outside risks are challenging the country’s economic growth, including the Russia-Ukraine conflict . With an uncertain outlook from geopolitics, and the fact that domestic inflation continues to be managed, UOB believed that the State Bank of Vietnam has enough capacity to keep its policy interest rate stable to support economic recovery efforts./. VNA … [Read more...] about OUB maintains Vietnam’s GDP growth forecast at 6.5 percent

In the past two months, Vietnam’s retail fuel prices have set up new records five times. Curbing the rise of petrol prices are essential for Vietnam to contain inflation, stabilize macro-economic conditions, and support economic recovery, for which scrapping excise tax on this product should be considered. A petrol station in Hanoi. File photo The Vietnam Chamber of Commerce and Industry (VCCI) gave its view on the draft resolution of the Ministry of Finance (MoF) on revising the tax rates for petroleum products. The move, however, could only be seen as a long-term solution, as any decision on the cut of excise and value-added taxes for petrol products are subject to the ratification of the National Assembly, with the upcoming session scheduled to take place in late 2022. In this regard, the VCCI expressed its support for MoF’s suggestion to further cut the environmental protection tax on fuels and gas products, saying such a move could be done right in … [Read more...] about VCCI proposes to scrap excise tax on petrol

Role of press highlighted in promoting development Nguyen Thu Lan, a consultant from a Hanoi-based US-invested investment consultancy firm, two weeks ago completed a digital transformation report for the firm’s three potential American clients, who are exploring Vietnam’s investment climate. Lan had to seek information from many sources for the report, including local newspapers. She also found detailed information on Vietnam’s macroeconomic situation and digital transformation in VIR, which features a new hallmark scheme from the government on supporting industrial enterprises in smart production development. Lan said, “I am very happy as I had been seeking such information for months. More importantly, such information was cited from an original source,” she said. Under the draft scheme, expected to be enacted by the government soon, just over one-third of Vietnamese businesses will implement digital transformation effectively by 2025, and the rate will increase to 85 per … [Read more...] about Role of press highlighted in promoting development

Inadequacies in salary are causing a shift of workers among foreign-invested enterprises. Taiwanese-backed Foxconn, the world’s largest iPhone contract manufacturer, is complaining about a battle to attract more affordable labour with its Chinese rivals in Vietnam. Young Liu, CEO and chairman of Foxconn, this month accused the company’s Chinese competitors of setting up campuses near its base in Vietnam to get closer to its workers. Foxconn’s campus, located in the northern province of Bac Ninh, currently employs around 60,000 workers, and the company has plans to increase that number over the next two years. Once the battle for workers becomes more serious, the company may face the risk of employee shortages. While the Foxconn CEO would not disclose the names of the competitors involved, the current crop of 31 companies – employing around 160,000 workers – that produce Apple products in Vietnam include major names such as Luxshare ICT, Pegatron Vietnam, and BYD Electronics … [Read more...] about Foreign groups battle to retain their workers