Vietnam real estate news

The Hanoitimes - The trade deal is expected to spark new opportunities for Vietnam as one of the few Asian countries to secure an exclusive FTA with the UK. The signing of the UK – Vietnam Free Trade Agreement (UKVFTA) has ensured continuity of mutual trade after the end of Brexit’s transitional period on December 31, 2020. Vietnam’s Minister of Industry and Trade Tran Tuan Anh and UK International Trade Secretary Liz Truss at the signing of the free trade agreement in Hanoi on December 11. Photo: Nhac Nguyen/AFP/Getty Images The UKVFTA, which was signed in Hanoi last week, will reproduce similar effects from the EU – Vietnam Free Trade Agreement (EVFTA) as the UK will be out of the EU by the end of 2020, according to Savills Vietnam. For Vietnam, the UKVFTA will primarily boost exports, while for the UK, it is considered an essential first step in gaining access to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), said Savills Vietnam, one of the largest real estate practice in the country. Under the UKVFTA, the UK will first eliminate 65% of tariffs moving up to 99% after seven years to boost bilateral trade. Vietnam will first remove 48.5% of tariffs from UK imports, which after six years, will rise to around 91.8% or 97.1%. The tariff rate quotas provided in the EVFTA have been agreed to guide those in the UKVFTA, after the UK reviews their actual trade value with Vietnam. In addition, UKVFTA will spark new opportunities for Vietnam as one of the few Asian countries to secure an exclusive FTA with the UK, Savills Vietnam said. As the representative of a leading UK company in Vietnam, Mr Matthew Powell, Director of Savills Hanoi, who attended the UKVFTA signing ceremony last week, shared his outlook for Vietnam and the economic development. The agreement will facilitate extensive benefits and opportunities for both sides. The UK has been Vietnam’s third largest trading partner in Europe, with …

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The Hanoitimes - While the UK continues to be a potential market for Vietnam’s key export staples, the latter could be a springboard for British companies to reach a broader market in Southeast Asia. As the UK and Vietnam markets are highly complementary, trade relations between the two countries would ensure a win-win scenario for all parties involved, according to Vice Minister of Industry and Trade Hoang Quoc Vuong. Overview of the conference. Source: MoIT. As of one the world’s hubs of economy, politics, culture and science, the UK remains Vietnam’s priority economic partner, stated Mr. Vuong at a conference discussing opportunities for British and Vietnamese businesses on October 6. While the UK continues to be a potential market for Vietnam’s key export staples, including agricultural products, footwear, textile, phones and wood, among others, the latter could be  a gateway for British companies to access a broader market in ASEAN, added Mr. Vuong. Over the past years, Vietnam has been pushing for improvements in the business environment  towards greater transparency and convenience for businesses, said Mr. Vuong, adding the Vietnamese government puts strong emphasis on fairness and no discrimination among different economic groups. According to Mr. Vuong, Vietnam would give priority to administrative reform to better meet growing demands from a market-based economy and the process of global economic integration. Deputy Minister of Industry and Trade Hoang Quoc Vuong. Source: MoIT. In 2019, total FDI commitment to Vietnam stood at US$38.02 billion, up 7.2% year-on-year, while the disbursed amount was estimated at US$20.38 billion, up 6.7%. Investors have poured money into 19 fields and sectors in 2019, in which manufacturing and processing led the pack with investment capital of over US$24.56 billion, accounting for 64.6% of the total, followed by real estate with US$3.88 billion or 10.2% of the total, and …

[Read more...] about Vietnam – UK trade cooperation is a win-win relationship

13 more people have tested positive for SARS-CoV-2 in Vietnam, raising the total number of patients in the country to 2,461, the Ministry of Health reported on Monday evening. Illustrative photo According to the ministry's report, eight of the new patients are from Hai Duong Province. The five imported patients include three women and two men aged between 21-34 who entered Vietnam through Ha Tien International Border Gate in Kien Giang Province on February 25-26. They were sent to a local quarantine area upon arrival and tested positive for SARS-CoV-2 on February 28. The patients are now being treated at the Ha Tien City Healthcare Centre. With these new infection cases, the number of Covid-19 patients in Vietnam has increased to 2,461, including 857 locally-transmitted cases reported since the new outbreak started in Hai Duong on January 28. Hai Duong Province alone has recorded 673 cases. As of 6 pm on March 1, a total of 1,892 Covid-19 patients had recovered and been discharged from hospital. There have been 35 deaths, most of them being the elderly with serious underlying diseases. At present, as many as 60,693 people who had close contact with Covid-19 patients or returned from virus-hit areas are being monitored at hospitals, quarantine facilities, and at home. …

[Read more...] about Vietnam reports 13 more Covid-19 infection cases, total reaches to 2,461