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The demand for Vietnam’s IP land rentals will sharply grow in 2023 thanks to policies promoting a return to investing in the Southeast Asian country. The industrial property segment is predicted to continue to be a bright spot in Vietnam’s real estate market in the coming years after reaching impressive growth in 2022, local insiders said. Benefiting from the ex isting land bank Many IP developers earn profit from developing IP projects. Photo: Cong Hung A recent report on the industrial real estate industry of VNDIRECT Securities predicted that by 2023, the net profit of listed IP developers is expected to grow by around 12% year-on-year. "We see more challenges for IP developers in the next two years due to the slow project approval process and limited funding sources. However, this is likely to turn into opportunities for developers that own ready-to-lease land banks, such as Becamex IDC Corporation (BCM)," the report noted. "We believe that … [Read more...] about Vietnam’s industrial property – promising segment in 2023

An art performance to celebrate the 93rd founding anniversary of the Communist Party of Vietnam (February 3, 1930 - 2023) (Photo: VNA) Vientiane (VNA) - Pasaxon (The People), the official newspaper of the Lao People's Revolutionary Party, ran an article on February 3 on the occasion of the 93rd founding anniversary of the Communist Party of Vietnam (CPV). The article wrote every time when spring comes, in the jubilant atmosphere of the Lunar New Year, the Vietnamese people joyfully welcome the founding day of the CPV. Over the past 93 springs, the CPV has led its people to fight foreign invaders, gain independence and reunify the country, as well as in nation building and development, contributing to bringing a prosperous and happy life to the people. Under the leadership of the Party, Vietnam has developed from a poor and backward country, and a colonised country to a developing country with middle income; and its role, position and reputation are increasingly … [Read more...] about Lao newspaper praises Communist Party of Vietnam’s leadership role

Foreign Minister Bui Thanh Son (R) and Minister of Foreign Affairs and Cooperation of Timor Leste Adaljiza Albertina Xavier Reis Magno at the meeting (Photo: VNA) Jakarta (VNA) - Vietnam will work with other ASEAN member states to discuss, agree on processes, procedures and necessary measures to support Timor Leste to become an official member of the group soon, Foreign Minister Bui Thanh Son said. FM Son made the statement during a a meeting with Minister of Foreign Affairs and Cooperation of Timor Leste Adaljiza Albertina Xavier Reis Magno on February 4 on the sideslines of the ASEAN Foreign Ministers' Retreat (AMM Retreat) in Jakarta, Indonesia. The two sides agreed to promote exchange of delegations at all levels, soon hold the first meeting of the Joint Commission for Bilateral Cooperation at the ministerial level as agreed in the Framework Agreement on Technical and Economic Cooperation in April 2010,  implement signed agreements, and accelerate negotiations and … [Read more...] about Vietnam to help Timor Leste soon become official member of ASEAN: FM

Bao Ngoc, a 21-year-old student in Hanoi, said he and his group of 20 friends had been loyal Zenly users for 3 years. But the 10-year-old app, which is owned by Snap, officially shut down on February 2. "The end of the app made our group disheartened, so we wanted to find a similar app to replace it," Ngoc said. Potential candidates include Whoo, BFF or iSharing, Ngoc said. Each of them have different functionalities, but all are similar to the now-defunct Zenly. However, the most popular location-tracking app in Vietnam at the moment is Whoo. Data from Google Trends revealed that the number of searches for the keyword "Whoo" has tripled since the end of January. Over the past week, Whoo has also ranked among the most downloaded apps on the App Store and Play Store. Whoo, developed by Japanese firm LinQ, was released on iOS in December last year, and then on Android in January. The app garnered over 100,000 downloads on the Play Store in just 10 days. Its interface and … [Read more...] about With Zenly gone, new location-tracking apps watch Vietnam

Accor Vietnam intends to double the number of international-standard hotel s in Vietnam. - Illustrative image (Photo: baodautu.vn) Hanoi (VNA) - Accor Vietnam and IHG Hotels & Resorts – the world’s leading hotel businesses operating in Vietnam announced that they intend to double the number of international-standard hotels in the Southeast Asian nation in the next five years. Representatives of Accor and IHG said Vietnam is a very attractive country to invest in, and foreign investment has been quite robust over the past few years. There is huge potential for developing the hotel sector in the Southeast Asian nations. Xavier Cappelut, Vice President of Operations of Accor Vietnam, said the firm has plans to welcome 41 more hotels and resorts in its chain in Vietnam within the next five years. The hotel market received a great number of domestic visitors from the first half of 2022 due to the loosening of pandemic regulations, he said, adding that the demand has … [Read more...] about World’s leading hotel groups to double down on investment in Vietnam

He made the remarks at a press conference held within the framework of the ASEAN Tourism Forum (ATF)  2023 in the city of Yogyakarta, Indonesia, from February 2-5. Last year, Vietnam welcomed a total of 3.66 million foreign visitors, 23.3 times higher than the 2021 figure. In January 2023 alone, the number of foreign tourists to the Southeast Asian nation reached more than 871,000, up 44% year-on-year. The official said that Vietnam has a variety of tourism products. In addition to four main options, namely marine tourism, ecotourism, cultural tourism and urban tourism, it also boasts attractive complementary products such as luxury resort tourism, adventure tourism, wellness tourism, and golf tourism. Introducing Vietnam's tourism policy in the post-COVID-19 period, Mr. Ha Van Sieu said that Vietnam has resumed visa exemption for those from ASEAN countries, thereby helping people in the region travel easily. Its Government has also supported tourism businesses to reconnect with … [Read more...] about Vietnam promotes tourism to ASEAN market

Government bond is an important source of revenue for the state budget and supports the development of the capital market. The Vietnam State Treasury (VST) is expected  to raise VND400 trillion (US$17 billion) by issuing Government bonds via auctions at the Hanoi Stock Exchange (HNX) in 2023. Government bonds remain a key source for the state budget. Photo: Viet Dung Under the plan, the agency is set to issue bonds worth VND108 trillion ($4.6 billion) in the first quarter of this year. This would include bonds with five to seven-year maturity of VND8 trillion (US$341.5 million), 10-year maturity of VND45 trillion (US$1.9 billion), 15-year maturity of VND45 trillion (US$1.9 billion), 20-year maturity of VND5 trillion (US$213.2 million) and 30-year maturity of VND5 trillion (US$213.2 million). VST noted adjustments may be made to stay in line with the actual situation of the market and Gov’t expenditure needs, especially the disbursement progress of public … [Read more...] about Vietnam State Treasury to raise US$17 billion through Gov’t bonds in 2023

It will not be easy to keep inflation at 4.5% this year as targeted, economic expert Nguyen Bich Lam, former General Director of the General Statistics Office (GSO), has said. Inflationary pressure for Vietnam's economy in 2023 is "huge" and comes from many factors, he said in an interview with the Vietnam News Agency (VNA). People queue up at a petrol station in Hanoi. (Photo:VNA) The demand-pull and cost-push inflation will put pressure on the country's efforts to control inflation amid surging demand and strengthening of the US dollar which yields increased import prices. Demand for petrol and electricity – the two important commodities for production and consumption – will increase in 2023. The domestic electricity price has been kept unchanged for the past few years, while the price of coal and gas used in the production of electricity has increased, he said, noting that thermal and gas power account for a large proportion of the total generated electricity. … [Read more...] about Vietnam faces huge inflationary pressure in 2023: expert

During the talks, Deputy Prime Minister and Foreign Minister Pham Binh Minh lauded Vietnam visit of Marise Payne following her reappointment as Minister for Foreign Affairs cum Minister for Women of Australia, saying that it proves the Australian government’s appreciation for Vietnam and substantial ties between the two nations. Deputy PM Minh thanked the Pacific country for maintaining the supply of development assistance to Vietnam, saying that it has been used effectively, contributing to Vietnam’s socio-economic development. For her part, Ms. Payne affirmed that Australia considers Vietnam one of its key partners in Southeast Asia and wants to further promote the bilateral relations and cooperation in both bilateral and multilateral frameworks. The two sides agreed to facilitate high-level visits in the coming time, effectively uphold 19 bilateral cooperation mechanisms, especially annual meetings between the two defense and foreign ministers, and hold the first … [Read more...] about Australia considers Vietnam a key partner in the region: Australian Foreign Minister

The event was a turning point for the country, ending a crisis in orientations for national salvation and leadership of the patriotic movement of Vietnam in the early 20th century. The moment also became the starting point for the victory of Vietnamese revolution and the growth of the nation in the following periods. With sound policies, the CPV strongly inspired and revived aspirations for national liberation among the Vietnamese people. Only 15 years following the Party revolutionary path, Vietnam had made a great miracle – the success of the August Revolution in 1945, smashing the colonial-feudal rule, establishing the Democratic Republic of Vietnam, and bringing the nation into the era of independence and freedom. On September 2, 1945, at Ba Dinh Square in Hanoi, President Ho Chi Minh read the Declaration of Independence, giving birth to the Democratic Republic of Vietnam. A new era opened for the nation, the most glorious era in the national history – the Ho Chi Minh era. … [Read more...] about Communist Party of Vietnam – leader, companion of nation