Monthly Real Estate News I Mar 2022 by Vietnam Realty

Vietnam Monthly Real Estate News March 2022

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Daily Real Estate News Highlights Top Daily Updated Real Estate News Colliers Vietnam's Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

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Many Saigonese choose to "leave the city to come to the countryside", highland real estate becomes a delicious piece of cake to attract investors' cash flow www.cafef.vn According to Mr. David Jackson, CEO of Colliers Vietnam, with the help of the trend of "green" living, close to nature, farmstay have even more conditions to develop strongly. "The important reason is that the risk management of this model is not effective. If the synchronous development of two fields of farm and stay is not unique or does not create a satisfactory experience for tourists, the number of visitors will gradually decrease, investors will have a shortfall in revenue, struggling to reach the "break-even point". "Investors need to understand the climate, soil, culture, customs and habits of each land to create suitable architecture, linking the strengths of the locality", Mr. David Jackson emphasized.

Mr. David M. Jackson Chief Executive Officer | Colliers Vietnam

Vietnam’s logistics sector attracts more foreign investment inflows www.vir.com.vn Foreign investors will continue to pour money into Vietnam’s logistics sector to seize post-pandemic development opportunities, Lao Dong newspaper quoted Piyush Rathorenoi, General Director of the Transworld QBV ICD as saying. Piyush said he expects the logistics industry of Vietnam will thrive in the future, turning Vietnam into a logistics centre of the world.

Vietnam’s logistics sector attracts more foreign investment inflows

Vietnam holds crucial position as part of global supply chain www.vov.vn A number of large financial institutions and foreign media agencies have agreed that the Vietnamese economy is on track to recover from the negative impact caused by the COVID-19 pandemic. Fitch Ratings is among the leading organisations to hold the most optimistic forecast that the Vietnamese economy is likely to grow by 7.9% this year. In its recent report, Fitch outlined that Vietnamese economic recovery is set to gather momentum in the year ahead, particularly as domestic demand rebounds and export performance remains strong. Major Japanese media outlets such as NHK, Nikkei, Yahoo Japan, and JiJi News have reported on the Vietnamese Government’s decision to reopen all borders to international tourism as of March 15. They noted that the decision indicates the leadership’s strong resolve to spur further economic recovery coming off the back of its successful vaccine rollout and high inoculation coverage.

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Giants race to collect land: "Double-edged sword" from the real estate market's bounce www.diendandoanhnghiep.vn The enterprise's push to acquire land fund along with M&A deals has been forecasted by experts. Mr. David Jackson, CEO of Colliers Vietnam explained that the reason was that the big and strong financial enterprises want to shorten the time to participate in the market for each specific project when the land fund was gradually exhausted. Moreover, after 2 years of the pandemic, many enterprises suffered heavy losses and was not afford to develop unfinished projects, so they had to accept transfers to "healthier" enterprises.

Mr. David M. Jackson Chief Executive Officer | Colliers Vietnam

Vietnam attracts nearly 5 billion USD of FDI in two months www.vir.com.vn Foreign investors have poured nearly 5 billion USD in Vietnam so far this year, equivalent to 91.5 percent of that in the same time last year, reported the Foreign Investment Agency under the Ministry of Planning and Investment. As of February 20, 183 new projects had been licenced, a rise of 45.2 percent year on year, with their combined capital totaling 631.8 million USD, down 80.9 percent year on year. Meanwhile, nearly 3.6 billion USD was added into 142 underway projects, over 2.2 times than that in the same period last year. Foreign investors also injected 769.6 million USD into share purchase deals, up 41.7 percent.

Vietnam attracts nearly 5 billion USD of FDI in two months

U.S. becomes largest importer of Vietnam’s agro-forestry-fishery products www.thesaigontimes.vn The United States surpassed China to become the largest buyer of Vietnam’s agro-forestry-fishery products with a total value of US$2.3 billion in the first two months of the year, making up 28.2%, according to the Ministry of Agriculture and Rural Development. In a report on the import-export of agro-forestry-fishery products in February issued on March 1, Vietnam’s total import-export revenue from agro-forestry-fishery products reached nearly US$14.2 billion in the two months, up 15.8% year-on-year, including US$8 billion from exports and US$6.2 billion from imports. China was the second-largest importer of Vietnam’s agro-forestry-fishery products with nearly US$1.3 billion, followed by Japan with US$586 million and South Korea with US$376 million.

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Colliers News

The apartment for rent still... hibernate www.tinnhanhchungkhoan.vn David Jackson, CEO of Colliers Vietnam, said that since the outbreak of the Covid-19, major cities in Vietnam have recorded a higher rate of empty apartments when international tourists were stagnated many foreigners returned home, while the supply of apartments for rent was abundant. In addition, because many landlords have sharply reduced prices to attract tenants, it created great competition for the serviced apartment segment in Vietnam. "There is a possibility that apartment rental rate will increase back to the way they were before the pandemic, but it is unlikely to happen soon, especially in the context of the current complicated situation of the pandemic," said David Jackson.

The apartment for rent still... hibernate

Retail real estate finds its way back www.vir.com.vn The retail real estate market is displaying signs of optimism after quarantine restrictions were eased. Even after a protracted period of closure, retail space rentals in Ho Chi Minh City remained stable in Q4/2021, as assessed by Colliers Vietnam. In the central area of the city, the average retail space is $115 per square metre per month, while the average vacancy rate is about 5 per cent. Meanwhile, in areas outside of the city centre, the average rent is $24.50 per metre, with vacancies at about 14 per cent.

Retail real estate finds its way back

Master plan prepared to turn Vietnam into developed country: Minister www.thesaigontimes.vn A national master plan is being formulated to turn Vietnam into a developed and high-income country by 2045, said Minister of Planning and Investment Nguyen Chi Dung. Speaking at a teleconference on the national master plan in the 2021-2030 period, Minister Dung affirmed that the master plan aimed to help rearrange the country’s development spaces.

Sun Group launches first luxury airline in Vietnam www.vietnamplus.vn Real estate and entertainment firm Sun Group has launched its Sun Air, the first luxury airline in Vietnam, providing private jet management and air charter services, and sightseeing flights using helicopters and seaplanes. Sun Air targets high-class customers requiring high standard services. It aims to become a global private jet airline using aircraft with highest speed in the world.

colliers.com/en-vn

Daily Real Estate News Highlights Top Daily Updated Real Estate News Colliers Vietnam’s Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Colliers News

Colliers: Real estate market outside Hanoi and HCMC will grow in 2022 www.cafeland.vn Colliers experts predict that this year, the cluster real estate market will thrive, especially in areas outside of the two top cities in the country, Hanoi and Ho Chi Minh City, mainly because the supply of residential real estate in big cities is not enough to meet the demand from buyers. In addition, southern provinces such as Dong Nai, Long An, Binh Duong or northern provinces such as Bac Ninh and Hung Yen will witness the development of key industrial projects, which have already appeared with high density over the past few years. Colliers experts predict that infrastructure will continue to be upgraded in these areas, acting as a bridge between where people live and where they work.

Mr. David M. Jackson Chief Executive Officer | Colliers Vietnam

Vietnam’s manufacturing recovery continues in February www.vietnamplus.vn The Vietnamese manufacturing sector remained in recovery mode in February, seeing growth accelerate further and confidence maintained, according to IHS Markit. In a report released on March 1, IHS Markit said the Vietnam Manufacturing Purchasing Managers' Index (PMI) posted 54.3 in February, up from 53.7 in January and signalling a pick-up in growth for the fourth month running. Business conditions have now improved in each of the past five months following the disruption caused by the Delta wave of the COVID-19 pandemic in 2021.

A production line of a Japanese firm in HCM City’s Tan Thuan Export Processing Zone.

Property prices skyrocket in eastern HCMC after record bids for Thu Thiem land www.vnexpress.vn Property prices in Thu Duc City, a new urban area in eastern HCMC, have been soaring, driven by record bids recently for land plots in the Thu Thiem Peninsula. The Global City, an under-construction premium apartment project in the former District 2 (now Thu Duc City), has estimated prices of VND350-400 million (US$15,330-17,520) per square meter.

Vietnamese transport ministry approves general aviation business license for Sun Air www.tuoitrenews.vn The Vietnamese Ministry of Transport on Wednesday granted a business license to Sun Air Co. Ltd. to operate as a general aviation service provider. The new airline is expected to officially launch its private jet service later this month. colliers.com/en-vn

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Land fever, profit of billions and the truth that few people know www.24h.com.vn Mr. David Jackson - CEO of Colliers Vietnam said that the economic recovery would stimulate investors to believe that a new growth cycle would begin, and they needed to put their money into before the price got too high. This might cause "land fever" in some areas, but would not happen on a large scale and would only be concentrated in some project areas.

Mr. David M. Jackson Chief Executive Officer | Colliers Vietnam

Masan's acquisition of Phuc Long's stakes showcases the leading advisory expertise of VCSC www.vir.com.vn The HCM City property market is expected to develop strongly in 2022 on the back of a number of infrastructure projects being completed or started during the period, experts said. Many of the projects are meant to improve connectivity or reduce congestion. They include the An Phu Masan's latest deal with popular tea and coffee chain Phuc Long Intersection in Thu Duc City. The junction of three major roads, the HCM was accompanied by experienced City-Long Thanh-Dau Giay Highway, Mai Chi Tho Boulevard and Luong and long-standing partners of Viet Capital Securities. Dinh Cua Street, suffers from constant congestion, which peaks during weekends and other holidays as people travel to Dong Nai and Ba Ria-Vung Tau provinces.

Masan's acquisition of Phuc Long's stakes showcases the leading advisory expertise of VCSC www.vir.com.vn Masan's latest deal with popular tea and coffee chain Phuc Long, which led the former to acquire the majority stakes in the latter, was accompanied by experienced and long-standing partners of Viet Capital Securities. In January, Masan Group bought an additional 31 per cent stake in the Phuc Long tea and coffee chain, increasing its ownership rate to 51 per cent, thereby taking control of this beverage brand.

HCMC needs to reposition driving force for growth www.thesaigontimes.vn The post-pandemic economy is a topic of great interest in the first days of the year, for the entire country as well as HCMC, the latter being the most important hub of the country. The issue is of paramount importance, not only because the city’s economy has been adversely affected by the pandemic, but also because of the need for the city to reposition its driving force for growth in the coming years.

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Colliers News

A "rare" stimulus policy appears in the apartment market that has been handed over in early 2022 www.cafef.vn "In the current context, when Covid-19 has not completely ended, investors have also clearly shown their goodwill to share difficulties with customers. For customers with initial accumulation not too much, these incentives in general will help them "breathe", and they should take advantage of it. It is clear that the current supply is not enough to meet the demand, so the application of many support programs by the developer will contribute to help people with real housing needs soon own their dream residence. These policies will also contribute to better market sentiment after a rather "dismal" period due to the recent outbreak of the Covid-19", shared Mr. David Jackson, CEO of Colliers Vietnam.

Mr. David M. Jackson Chief Executive Officer | Colliers Vietnam

Vietnam a leading production base for Germany, EU: Adidas CEO www.tuoitrenews.vn The talks were aimed to discuss measures to promote the German sportswear firm’s operations in Vietnam, according to the Vietnam Government Portal. PM Chinh congratulated Adidas on its robust performance in 2021 despite challenges brought about by the COVID-19 pandemic. The leader hoped that Adidas would further promote the economic, trade, and investment cooperation between Vietnam and Germany as well as the European Union.

Vietnamese Prime Minister Pham Minh Chinh during phone talks with Adidas CEO Kasper Rorsted, March 1, 2022. Photo: Vietnam Government Portal

Two-month public capital disbursement faster than last year’s same period www.vir.com.vn More than 44.6 trillion VND (1.95 billion USD) of public investment was disbursed in the first two months of 2022, equivalent to 8.61 percent of this year’s target and higher than the rate of 5.09 percent in the same period last year. The Ministry of Finance said the disbursement rates for domestic and foreign capital reached 9.22 percent and 0.2 percent, compared to the respective figures of 5.68 percent and 0.38 percent seen during the same period last year.

Housing prices soar in the south: property consultancy www.vnexpress.vn Housing prices in the south increased by 28.8 percent year-on-year in Q4, 2021, to an average of US$2,955 per square meter. They were $1,800-3,000 in its neighboring provinces like Binh Duong, Dong Nai, Long An, and Ba Ria - Vung Tau. New housing supply rose to nearly 2,100 units, with the city only accounting for 223 of them. colliers.com/en-vn

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Colliers News Investors adjust their strategies to new fluctuations of the real estate market www.tapchitaichinh.vn Mr. Piyush Gupta, Managing Director of Capital Markets and Investment Services at Colliers India also said: “The pandemic has driven a number of structural trends and will have lasting changes in the real estate business. This creates a number of opportunities for investors looking to refresh their portfolios or adjust their strategies to areas of good growth. Some areas attract capital such as housing, industrial parks, real estate for life sciences, or data centers. Opportunities will increase with investors whose strategies are in line with changes in working patterns and consumption habits in each region.”

Investors adjust their strategies to new fluctuations of the real estate market

The ‘Big Four’ announced their departure from Russia www.vietnaminsider.vn On the afternoon of March 7, RT Radio (Russia) broadcast a news, 3 of the 4 “Big Four” largest auditing firms on the planet decided to leave Russia. This activity is believed to be the result of Moscow’s military operation in Ukraine. These three companies are: KPMG, PricewaterhouseCoopers (PwC) and Ernst & Young (EY). And Deloitte did not announce the decision until late at night 7/3. The Anglo-Dutch auditing and consulting giant KPMG, which has more than 4,500 partners and employees in Russia and Belarus, said it was pushing to leave the two countries. “We believe that, together with other global businesses, there is a responsibility to respond to Russia’s ongoing military action in Ukraine.

The ‘Big Four’ announced their departure from Russia

FDI firms increase employee recruitment for production expansion www.vov.vn Several foreign-invested firms have moved to increase recruitment of workers as they strive to meet the demand for production expansion and complete orders after a COVID-19 inflicted hiatus, according to industry insiders. With the country’s rapid vaccination rate coupled with its strategy to flexibly adapt to the pandemic, local businesses’ production lines and supply chains are gradually gathering full steam. During the opening two months of the year Vietnam remained an attractive destination for foreign enterprises, as foreign businesses poured approximately US$5 billion in the country, including US$1.3 billion in Bac Ninh province.

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EuroCham, Ho Chi Minh City team up to boost tourism development www.tuoitrenews.vn

The European Chamber of Commerce in Vietnam (EuroCham) has signed a memorandum of understanding (MoU) with the Ho Chi Minh City Department of Tourism on cooperation in promoting the city’s tourism recovery from the COVID-19 pandemic. At the EuroCham, Ho Chi Minh City team up to boost tourism development signing ceremony on Monday, EuroCham president Alain Cany said that Vietnam’s full international tourism reopening from mid-March is the news that the European business community has been awaiting for the past two years.

MoIT keen to bolster economic cooperation with US firms www.vietnamplus.vn

The Ministry of Industry and Trade (MoIT) will focus on some cooperation fields with the US this year and hopes to receive support from businesses of the country, Deputy Minister of Industry and Trade Do Thang Hai has said when meeting a delegation of the US-ASEAN Business Council (USABC) in Hanoi. At a working session, the MoIT informed more than 40 leading firms of the US operating in Vietnam about its priorities this year.

Strategically partnering with “big names” in Germany, FLC’s ecosystem approaches the EU market

Japanese mainstays diversify investments www.vir.com.vn According to Muira Shota, CFO at Uniqlo Vietnam, it would be essential in Vietnam to have both production and sales functions while optimising the supply chain to maximise the potential of the Vietnamese market. The fashion chain boasts 10 stores in the country and an e-commerce presence. Moreover, AEON Group is planning to expand its system to reach more than 30 stores by 2030, aiming to further research and development to enrich the quality of life for local consumers. Meanwhile, Hirai Shinji, chief representative of the Japan External Trade Organisation (JETRO) in Ho Chi Minh City, said that in the past few years, the investment fields of Japanese enterprises in Vietnam have become more diversified. As the result, nearly 70 per cent of Japanese businesses stated that Vietnam has market capabilities and development potential.

Strategically partnering with “big names” in Germany, FLC’s ecosystem approaches the EU market www.thesaigontimes.vn A range of agreements for strategic partnership between FLC, Bamboo Airways and international partners were registered at the Investment Promotion Forum jointly held by the Vietnamese Embassy in Germany and FLC Group on March 8th, 2022 in Frankfurt (Germany). With regards to the the decision of choosing Germany as the first destination for a series of international promotion activities in 2022, Mr. Trinh Van Quyet, Chairman of FLC Group, emphasized that Germany has established itself as an extremely potential market given a resident community of more than 200,000 Vietnamese people. colliers.com/en-vn

Colliers News Industrial real estate adds VND trillion projects www.baodautu.vn Colliers Vietnam forecasts that Binh Duong, Binh Phuoc and Dong Nai will also be the focus of industrial property in 2022 thanks to the advantage of connecting transport infrastructure and a thriving economy. In particular, Binh Duong is a hot spot attracting enterprises to invest in industrial real estate with the appearance of many large enterprises such as Vingroup, FLC, Becamex, HUD.

Industrial real estate adds VND trillion projects

Lessons learnt from the Thu Thiem land auction case www.bizhub.vn A suitable auction form for each type of property and more stringent sanctions are needed to prevent auction winners from walking away without buying as happened recently in the Thu Thiem New Urban Area, experts said. The HCM City Real Estate Association (HoREA) said in a report to Prime Minister Pham Minh Chinh that the direct verbal auction had led to a bidding war, especially between the final two bidders, which pushed up prices. The winning bid was 8.3 times the reserve price, and much higher than existing land prices in the area and even on DongKhoi, Nguyen Hue and Le Loi streets in the city downtown, it said. If the auction had been through sealed bids and the bidders’ capacity, especially financial, had been evaluated, the results would have been different, it said.

A corner of Thu Thiem New Urban Area

Bamboo Airways signs $110-mln deal with European maintenance firm www.vnexpress.vn Bamboo Airways has signed a EUR100-million ($110 million) contract with European aircraft maintenance firm Lufthansa Technik AG to service its airplanes. Lufthansa Technik would also supply materials for its Boeing 787 and Airbus A320 aircraft, the airline said in a statement. It also signed MoUs with two other European firms, AVIAREPS and Airbridge International Agencies for market expansion and cargo transport consultancy. One more, with Air France Industries KLM Engineering & Maintenance for engine maintenance, will be signed Thursday.

Work on Ring Road No. 3 project to start next year www.thesaigontimes.vn Work on the Ring Road No. 3 project, which will connect HCMC, Binh Duong, Dong Nai and Long An, is expected to begin in the third quarter of 2023 and be completed in 2025, according to the prefeasibility study for the project. The HCMC government has submitted the prefeasibility study to the prime minister, the local media reported. colliers.com/en-vn

Colliers News Luxury apartments for experts: Low capital, outstanding profit www.tienphong.vn With the number of foreign experts in industrial zones increasing annually by 20-25%, the demand for high-quality settlements has been promoted. Since then, buying luxury apartments for investment and rental in Binh Duong has always been attractive. Profit margin reached 7.5%-16%, higher than that in some places in Ho Chi Minh City, not to mention the profit from the increase in real estate prices. According to a representative of Colliers Vietnam, currently, the price of Di An real estate is increasing sharply, many projects are open for sale with prices 50-70% higher than that of the neighboring projects opened for sale before.

Luxury apartments for experts: Low capital, outstanding profit

Why Vietnam is the top investment destinations for industrial real estate in South-East Asia www.vietnaminsidre.vn

President and co-founder of Gaw Capital Partners, Kenny Gaw, when speaking on the sidelines of the “Industrial Real Estate: Filling in and Filling up” conference recently and said Vietnam is expected to continue moving up the value chain due to its stable growth, export-oriented economy, a highly skilled workforce and strategic location.

Factories seen in Chau Duc Urban Industrial Park in southern Ba Ria-Vung Tau Province. Photo courtesy of Sonadezi Chau Duc.

Vietnam oil industry braces for impact of Russia-Ukraine conflict www.vnexpress.vn Surging crude oil prices may benefit the Vietnamese oil industry, but its exploration and exploitation activities are likely to be hit by the geopolitical situation. Oil prices skyrocketed by 30 percent after Russia launched military action against Ukraine, resulting in western sanctions on the former that have disrupted supply chains.

Russia-Ukraine conflict unlikely to jolt Vietnam economy: experts www.vnexpress.vn While the Russia-Ukraine conflict will raise commodity prices and production costs the overall impact on Vietnam’s economy is not likely to be significant, experts say. In fact, some of its impacts could also create opportunities for exporters, they add. Tran Quoc Hung, CEO of the Institute of International Finance (IFF) in Washington D.C., said: "The Russia-Ukraine tension and economic sanctions by Western nations have caused shortages and raised prices for a number of commodities such as oil and gas, grains and some strategic minerals."

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Colliers News Being fear of inflation, apartment real estate gets benefit? www.cafef.vn "As production and business activities are gradually returning to normal, investors are also very active in completing projects and opening sales. Demand in Binh Duong is still high and supply will also be at a sufficient level. Customers will benefit from many preferential policies from developers and low interest rates from banks. Currently, the average apartment price in Binh Duong is only about half of that in Thu Duc City, so it motivates people with real housing needs to look for more suitable projects", emphasized Mr. David Jackson, CEO of Colliers Vietnam.

Mr. David Jackson CEO of Colliers Vietnam

Re-operating businesses surge over two months www.vietnamnews.vn

The business community’s confidence in the Government’s drastic and timely solutions has caused the number of businesses re-operating to increase sharply in the first two months of 2022, according to the General Statistics Office. The latest report of In February, Việt Nam had 7,284 GSO has shown that 22,300 enterprises returned to operation in newly established enterprises with a the first two months of this year, up 102.5 per cent over the same registered capital of VNĐ85.2 trillion. period in 2021.

Two more trains for HCMC’s 1st metro line arrive from Japan www.vnexpress.vn The sixth and seventh trains for HCMC's first metro line were delivered at the Khanh Hoi Port in HCMC’s District 4 on Tuesday. The two trains with three cars each will be disembarked and transferred to the Long Binh Depot in Thu Duc City one after another on Wednesday and Friday. With their arrivals, HCMC’s metro line No.1 now has seven trains, all built in Japan. The other five were delivered between last October and June this year. Each train is 21 meters long, four meters wide, three meters high and weighs 37 tons. The 19.7-km metro route No.1 from Ben Thanh Market in District 1 to Suoi Tien theme park in Thu Duc City will have 17 Japanese-made trains in total.

Ho Chi Minh City running out of affordable apartments www.tuoitrenews.vn No apartments were sold at less than VND25 million (US$1,092) per square meter (sqm) in Ho Chi Minh City in 2021, whereas most units were priced at more than VND40 million ($1,748) per sqm. The Ho Chi Minh City Real Estate Association (HoREA) released a report to highlight a paradox in the property market where budget houses stayed out of the reach of low-income earners in 2021. The city has seen a supply-demand imbalance in the real estate market, with a huge stock of luxury apartments or condominiums and a shortage of affordable or mid-priced housing. colliers.com/en-vn

Colliers News Steel prices skyrocketed, contractors - house builders - investors "cry out" with pain? www.cafef.vn In view of this, Mr. David Jackson, CEO of Colliers Vietnam, said that as for apartments, construction steel accounted for nearly 30% of the cost. With the recent sharp increase in steel prices, investors must have faced many more difficulties. After just getting out of the severe outbreaks of the Covid-19 pandemic, the market showed signs of gradually recovering, but at this stage, the increase in steel prices caused investors to receive another "headache" again. "This also creates more upward pressure on apartment and townhouse projects, etc. contributing to making it difficult for real estate prices in general to "cool down" in the near future. Not only investors but also home buyers and people with real housing needs are greatly affected," emphasized Colliers Vietnam expert.

Mr. David M. Jackson Chief Executive Officer | Colliers Vietnam

Samsung C&T, Lilama win $940 mln contract for Vietnam's first LNG power plants www.vnexpress.vn A consortium of South Korea's Samsung C&T Corp and Vietnam's Lilama Corp has won a $940 million contract to build Vietnam's first LNG-fired power plants, Lilama said in a statement on Tuesday. Under the engineering, procurement and construction (EPC) contract awarded by PetroVietnam Power and signed on Monday, the consortium will build the Nhon Trach 3 and Nhon Trach 4 plants with a combined capacity of 1,500 megawatts in Dong Nai province, the statement said.

A liquefied natural gas (LNG) tanker is tugged towards a thermal power station in Futtsu, east of Tokyo, Japan, November 13, 2017.

VND8.3 trillion to be allocated for key traffic projects www.thesaigontimes.vn The Ministry of Transport is planning to allocate an additional VND8.3 trillion for key traffic projects after the prime minister approves the third phase of the 2022 mid-term public investment plan this month, according to the Ministry of Planning and Investment. Of the planned public funding, some VND5 trillion will be poured into the North-South expressway project in the 2021-2025 period, while the rest will be used for 37 new projects, the local media reported. Some expressway projects, including Bien Hoa-Vung Tau, Chau Doc-Can Tho-Soc Trang, Khanh Hoa-Buon Ma Thuot, Cao Lanh-An Huu, Dau Giay-Tan Phu and Chon Thanh-Duc Hoa, are awaiting investment approval from the National Assembly or the prime minister.

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Vietnam to build third oil refinery to meet domestic demand www.vov.vn Vietnam will build another oil refinery, the third of its kind, to ensure a sufficient supply of petroleum products for local consumption, said Deputy Prime Minister Le Van Thanh. The new plant is set to be built in the southern city of Vung Tau with a design capacity of 10 million m3 per annum. Addressing legislators at the ongoing session of the National Assembly Standing Committee on March 16, Thanh revealed the Government has directed the Vietnam Oil and Gas Group to draft the investment project.

Nghi Son oil refinery, the largest of its kind that meets one third of local demand for petrol, has scaled down production due to financial problems.

US amplifies bilateral ASEAN priorities www.vir.com.vn The US is expanding its strategic partnership with ASEAN and playing a bigger role in healthcare and economic cooperation policies, and is expected to raise its ties with Vietnam which will help expand bilateral cooperation scope. Since its strong commitment at the ninth ASEAN-US Summit last October, the US administration has provided major support to the bloc for economic recovery, including assistance for Vietnam.

Soaring energy prices put burden on businesses

Mekong Delta expressway construction to start in November www.vnexpress.vn The Ministry of Transport has instructed five Mekong Delta localities to speed up land acquisition so that construction of the Can Tho – Ca Mau Expressway can begin in November. By that deadline it wants Can Tho City and the provinces of Hau Giang, Kien Giang, Bac Lieu, and Ca Mau to hand over 70 percent of land since it wants construction to be completed by 2025, it said at a meeting with them on Tuesday. The expressway will run 156 km (97 miles) between the delta's economic hub, Can Tho, and the country’s southernmost province, Ca Mau, passing through the other three provinces and boosting connectivity in Vietnam's agriculture hub.

FPT Retail looks to open 300 more Long Chau pharmacies www.thesaigontimes.vn FPT Digital Retail JSC (FPT Retail, FRT) targeted to earn VND720 billion in before-tax profit and launch 300 more Long Chau-branded pharmacies this year, according to the firm’s latest announcement about its upcoming annual general meeting of shareholders. The meeting is scheduled to take place in HCMC on April 15. FPT Retail said in the announcement that it is set to obtain VND27 trillion in revenues and VND720 billion in pre-tax profit in 2022, up 20% and 30% year-on-year, respectively.

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Colliers News

Real estate M&A 2022: Hunting season comes soon www.tinnhanhchungkhoan.vn According to Mr. David Jackson, CEO of Colliers Vietnam, there are investors who believe that a new economic growth cycle is starting and need to "take advantage". Investors with strong financial potential, or simply with idle money, are actively looking for opportunities in the real estate M&A market when there are many supporting factors such as the economic recovery, public investment in major transport infrastructure projects which is being promoted.

Mr. David M. Jackson Chief Executive Officer | Colliers Vietnam

Transport costs rise as fuel prices surge www.vietnamplus.vn The sharp rise in gasoline prices is pushing up transport costs and thus fares, bus operators said. Eleven transport businesses operating at the Miền Đông (Eastern) bus station have announced a fare hike of 20 per cent starting at the end of this month, Nguyễn Lâm Hải, head of the station’s planning department, said. Operators have suffered losses as a result of a sharp drop in the number of commuters and the relentless rise in fuel prices, he said.

Containers are loaded at the Tân Cảng- Cát Lái Terminal in HCM City.

Over 1,800 hectares of land handed over for Long Thanh airport project www.thesaigontimes.vn Dong Nai Province has handed over more than 1,800 hectares of land, with 304 hectares handed over on March 16 to the Airports Corporation of Vietnam (ACV) for the first phase of the Long Thanh International Airport project. In early March, Long Thanh District completed the handover of nearly 55 hectares of cleared land for the project’s first phase, which requires 1,810 hectares, according to the district government. The district is speeding up site clearance work to hand over the remainder to the investor as soon as possible.

Mekong Delta to have nearly 1,200km of expressways by 2030 www.thesaigontimes.vn By 2030, the Mekong Delta is expected to have nearly 1,200 kilometers of expressways, including three southbound axes connecting the region with the southeastern region and three eastbound axes linking seaports and international border gates. The three southbound axes include the 245-kilometer HCMC-Can Tho-Ca Mau section of the eastern North-South Expressway, the 180-kilometer Duc Hoa (Long An)-Rach Soi (Kien Giang) section of the western North-South Expressway and the 150-kilometer HCMC-Tien Giang-Ben Tre-Tra Vinh-Soc Trang Expressway.

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Colliers News Di An is "thirst" for high-class professional apartments with affordable prices www.cafeland.vn According to a representative of Colliers Vietnam, currently, Binh Duong real estate prices are increasing sharply, especially in Di An city. Many projects open for sale has prices being 50-70% higher than neighboring projects opened for sale before. Some projects are also offered for sale at the price of VND 40-45 mil/m2, the price is "equal" and even surpassed many areas in the suburbs of Ho Chi Minh City. Some areas of the administrative center of Di An reached VND 60-70 mil/m2.

Mr. David Jackson CEO of Colliers Vietnam

Vietnam launches national pavilion on Alibaba www.vnexpress.vn The Vietnam Pavilion was launched on Chinese e-commerce platform Alibaba.com Friday to globally promote the country’s products and success stories. The Vietnam Trade Promotion Agency and the tech giant signed a deal for the purpose. Deputy Minister of Industry and Trade Do Thang Hai said the site would be used for advertising and taking Vietnamese products to customers around the world.

Alibaba’s office in Beijing, China

Construction of 1,000-hectare Vietnam Singapore Industrial Park begins in southern province www.tuoitrenews.vn A groundbreaking ceremony was held on Saturday to commence works on the third Vietnam Singapore Industrial Park in the southern Vietnamese province of Binh Duong Province, referred to as VSIP III Binh Duong. The ceremony was witnessed by Vietnamese Prime Minister Pham Minh Chinh and many leaders of Binh Duong Province and ministries. The VSIP III Binh Duong industrial park, covering 1,000 hectares in Binh Duong’s Tan Uyen Town and Bac Tan Uyen District, costs a total of VND6.4 trillion (US$279.9 million) .

New industrial parks in Long An, Thanh Hoa approved www.thesaigontimes.vn Deputy Prime Minister Le Van Thanh has passed a plan to develop an industrial park in the Mekong Delta province of Long An and another in the northern province of Thanh Hoa. The two industrial parks require a total infrastructure development investment of over VND12.3 trillion, the local media reported. The Long An-based Tan Lap industrial park project will cover 654 hectares of land in Can Giuoc District’s Tan Lap Commune and need more than VND9.9 trillion for infrastructure development. Long An Development Invest JSC is the investor of the project.

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Colliers News In contrast to real estate in Thu Duc City, affordable apartments in the border area attract customers thanks to this special factor www.cafef.vn According to Colliers Vietnam expert, at this time, customers will benefit from many preferential policies from investors and low interest rates from banks. Currently, the average apartment price in Binh Duong is only about half that in Thu Duc City, so it encourages people with real housing needs to look for more suitable projects. Compared to Ho Chi Minh City, Binh Duong's land fund is more, the land price is lower, so it is also more convenient for investors to develop mid-end apartment projects.

In contrast to real estate in Thu Duc City, affordable apartments in the border area attract customers thanks to this special factor

Aviation industry sets target to welcome 43 million passengers www.vnexpress.vn The Vietnam Pavilion was launched on Chinese e-commerce platform Alibaba.com Friday to globally promote the country’s products and success stories. The Vietnam Trade Promotion Agency and the tech giant signed a deal for the purpose. Deputy Minister of Industry and Trade Do Thang Hai said the site would be used for advertising and taking Vietnamese products to customers around the world.

A corner of the first Vietnam-Singapore Industrial Park (VSIP1) in Thuan An city, Binh Duong

Urban planning issues need solving www.vietnamnews.vn Over the years, violations related to the management and implementation of urban planning in Hà Nội have caused many consequences, putting pressure on urban infrastructure, inner-city traffic and people's lives. Facing this situation, the Hà Nội Party Committee has recently made strong moves by issuing Directive No. 14-CT/TU requiring agencies and units to effectively implement measures to solve such issues.

Industrial property expected to heat up, driven by FDI influx www.vir.com.vn The industrial property market is expected to heat up this year, driven by an influx of foreign direct investment (FDI), thanks to an improved manufacturing sector and border reopening which has helped raise investors' confidence. On 15 March 2022, the Vietnamese Government allowed citizens of 13 countries, including Germany, the Republic of Korea, Japan, and France, to travel to Vietnam for 15 days without a visa.

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Colliers News Investors are "opposite" to the market www.cafeland.vn Mr. David Jackson - CEO of Colliers Vietnam acknowledged that the strong incentives of real estate investors at this time were considered as the most practical solution for homebuyers to buy real estate during a time of escalating prices. “Most of these policies are designed to suit young families who need to use financial leverage to buy a home. From an investment perspective, these policies also bring many advantages to homebuyers, especially investors with low capital”, said the expert.

Mr. David Jackson CEO of Colliers Vietnam

Two Thu Thiem land auction winners say will make payments www.thesaigontimes.vn Dream Republic Corporation and Sheen Mega JSC, which are among four businesses that won the land auctions in the Thu Thiem New Urban Area in HCMC’s Thu Duc City, have just promised to pay the land use fees even though the payment deadline has passed, according to the HCMC Tax Department. At a meeting on March 21 between the department and the two firms, representatives of the two companies said they were trying to mobilize funds for the payments, the local media reported. They must pay a total of over VND8 trillion. The HCMC Tax Department is calculating the fines for their late payment of the registration and land-use fees.

Land lots in the Thu Thiem New Urban Area in HCMC

Indorama Netherlands to acquire Ngoc Nghia Plastics www.vir.com.vn Indorama Netherlands B.V. (IVL) announced plans to buy Ngoc Nghia Plastics JSC, a leading enterprise in the plastic packaging industry. Expanding its packaging business into Vietnam will strengthen the market position of Indorama Netherlands in Asia-Pacific, further extending the list of deals between Thai producers and Vietnamese partners. Indorama Netherlands has offered to buy all 81 million shares at Ngoc Nghia at VND26,219 ($1.14) apiece, totalling $91 million for the deal.

Minister orders daily review of Long Thanh airport progress www.vnexpress.vn The government has instructed the Airports Corporation of Vietnam to meet with the contractors building Long Thanh, the country's biggest airport when completed, every day to discuss progress. Minister of Transport Nguyen Van The issued the instruction to make sure the construction remains on schedule. The ACV will be the operator of the airport in Dong Nai Province near Ho Chi Minh City, which is scheduled to open in 2025. colliers.com/en-vn

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Colliers News Amidst the high price of apartments, many investors "strongly" launched policies to support homebuyers www.vietnaminsider.vn The country’s immediate target is to develop 20 products with strong international brands, to strengthen its position in the global supply chain, to bring its supporting industry’s capacity to meet 70 per cent of domestic demand and localization of production to 45 per cent, according to a report by the Ministry of Industry and Trade (MoIT).

Industrial real estate adds VND trillion projects

Vietnam has set a target of becoming an industrialized country. Here’s how www.vietnaminsider.vn The country’s immediate target is to develop 20 products with strong international brands, to strengthen its position in the global supply chain, to bring its supporting industry’s capacity to meet 70 per cent Vietnam has set a target of of domestic demand and localization of production to 45 per cent, becoming an industrialized country. according to a report by the Ministry of Industry and Trade (MoIT).

HoChiMinh City begins expansion of Nguyen Van Linh Avenue www.tuoitrenews.vn A two-kilometer section of Nguyen Van Linh Avenue in District 7, Ho Chi Minh City is undergoing an expansion from six to ten lanes, with the aim to ease traffic congestion and flooding that often happen on this axial route in the southern part of the city. The section, which runs from the intersection with Huynh Tan Phat Street to Nguyen Thi Thap Street in the district, will be widened by 13.25 meters on each side, including more than seven meters of mixed lanes and six meters of sidewalks. When completed, the road surface width will be increased from six to ten lanes.

Hanoi approves plan for underground construction space www.vnexpess.vn Hanoi's administration has approved the planning of an underground urban construction space at a maximum depth of 30 meters across 20 districts. According to the plan that will be carried out from now until 2030 and with a vision to 2050, the urban space will spread 756 square kilometers across 20 districts of Ba Dinh, Bac Tu Liem, Cau Giay, Dan Phuong, Dong Anh, Dong Da, Gia Lam, Ha Dong, Hai Ba Trung, Hoai Duc, Hoan Kiem, Hoang Mai, Me Linh, Nam Tu Liem, Tay Ho, Thanh Oai, Thanh Tri, Thanh Xuan and Thuong Tin. The space will have its deepest part go 30 meters underground to have a traffic system, technical and electricity infrastructure, commercial centers, services, supermarkets, entertainment, warehouses and parking lots. colliers.com/en-vn

Colliers News Although real estate prices are constantly peaking, this place is still a "low" area of Ho Chi Minh City www.cafef.vn Giving comments on the potential of Binh Chanh area, Mr. David Jackson, CEO of Colliers Vietnam assessed that the infrastructure here had been improved a lot. In addition to the existing key traffic routes, other important traffic works would also pass through Binh Chanh in the future such as the USD 10 billion high-speed railway from Ho Chi Minh City - Can Tho or the Metro 3A line. "Every year, Binh Chanh's population increases by about 30,000 people, so the demand for housing is high, transportation infrastructure is well-invested, and the mechanical population is large. The demand for real estate in Binh Chanh is very high, about twice as much as during the social distancing period," said CEO Colliers Vietnam.

Although real estate prices are constantly peaking, this place is still a "low" area of Ho Chi Minh City

Vietnam’s e-commerce is rated the fastest growing in Southeast Asia www.vietnaminsider.vn The report also records up to 8 million new digital consumers since the outbreak of the pandemic. This is a positive sign that people are gradually getting used to shopping activities on the Internet. At the seminar “E-commerce paved the way for businesses in the new normal” recently organized by the United States Agency for International Development (USAID) and the Department of Enterprise Development (Ministry of Planning and Investment), Chief Policy Department, Department of E-commerce and Digital Economy, Ministry of Industry and Trade, Ms. Le Thi Ha shared that recently, Covid-19 has caused us to face many serious challenges.

Vietnam’s e-commerce is rated the fastest growing in Southeast Asia

Petrolimex seeks to invest in oil refinery in Japan www.thesaigontimes.vn At a teleconference chaired by Prime Minister Pham Minh Chinh on March 24, the Vietnam National Petroleum Group (Petrolimex) proposed the prime minister allow it to begin research to invest in an oil refinery in Japan. Speaking at the event to discuss reforms in the operation of State-owned enterprises, Petrolimex said the investment in the oil refinery of Japanese oil giant ENEOS Corporation, a strategic shareholder of Petrolimex, will be conducted via optimal capital structure and share exchange.

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Colliers News Real estate stocks still have a lot of room to increase in price www.antt.vn Mr. David Jackson, CEO of Colliers Vietnam, said that there were investors who believed that this was a time a new economic growth cycle was starting, and needed to "take advantage" of this time. For investors who had financial potential or simply had idle money, they were really actively looking for opportunities and we believed that their beliefs were well-founded. Many factors were having a positive impact on the market during this period, including the fact that many infrastructure projects across the locality were being continued to accelerate progress and economic activities were on recovery.

Mr. David Jackson CEO of Colliers Vietnam

Amazon plans to build a billion-dollar data center in Vietnam www.vnexpress.vn Amazon Web Services (AWS) offers customers a wide range of digital solutions, such as data storage and processing. Like its major competitors – Microsoft and Google or Alibaba Group Holding and Tencent – AWS is racing to build massive, multibillion-dollar data centers in Asia. In an interview with Nikkei, Phil Davis, AWS’s regional director for Asia-Pacific and Japan, said his company has recognized a new opportunity: “We’re seeing a lot of countries. Smaller countries may not need metadata centers. They need more regional data centers.”

Amazon plans to build a billion-dollar data center in Vietnam

HCM City plans underground road to expand, beautify downtown spac www.vietnamnews.vn An underground space including a four-lane road connecting downtown HCM City with the Thủ Thiêm New Urban Area is being planned by the municipal Department of Planning Architecture. The department says the underground space will also include two basement floors with public parking lots for around 300 cars. A pedestrian walkway and tram lines will be built on the surface area around Bạch Đằng Wharf Park located along the Sài Gòn River bank.

PM approves $813 mln Mekong Delta highway project www.vnexpressvn A VND18.6 trillion ($813.5 million) highway project connecting HCMC, and the Mekong Delta provinces of Long An and Tien Giang has been approved by Prime Minister Pham Minh Chinh. The National Highway 50B is part of a traffic network planning scheme for the 2021-2030 period (with vision until 2050), director of the Long An Department of Transport, Dang Hoang Tuan, said Saturday. colliers.com/en-vn

Colliers News "Cold winter" on the Hong Kong luxury apartment rental market (China) www.bnews.vn Hannal Joeng, Director of Valuation and Consultancy Services at Colliers Group (Hong Kong), emphasized that since the outbreak of the pandemic in Hong Kong in 2020, many foreign nationals living in Hong Kong have been unable to reunite with their families for more than 2 years, during which time schools have occasionally suspended face-to-face instruction, which has also brought trouble to foreign families. Hannal Joeng believed that foreigners leaving Hong Kong would have a certain impact on Hong Kong's residential real estate. Since they accounted for a relatively small proportion of the buying and selling market, the impact on the rental market would be quite large.

"Cold winter" on the Hong Kong luxury apartment rental market (China)

Unicorn VNG invests in a famous Korean game maker, initially entering the Metaverse market www.vietnaminsider.vn On March 28, VNG announced an investment in startup Haegin. In the series B funding round, Haegin has raised up to 100 billion won, equivalent to 81 million USD, officially joining the ranks of “unicorn” companies in Korea. In addition to existing investors such as Bon Angels Venture Partners and Storm Ventures, Haegin also received capital from Kakao Games, Nepture, Netmarble, KDB Industrial Bank, Lotte Ventures, NetEase and VNG in this round. Founded in 2017, Haegin is the first mobile game company listed on KOSDAQ (Korea). Haegin CEO Lee Young-il is the co-founder of Comus, the “father” of world-famous games such as ‘Summer’s War: Arena of the sky’, ‘Golf Star’, ‘Fishing’, ‘Home Run Battle’ and ‘Combus Professional Baseball’.

Unicorn VNG invests in a famous Korean game maker, initially entering the Metaverse market

Billion-dollar projects stir hope of economic recovery www.vnexpress.vn A number of billion-dollar projects are in the works, signaling a robust economic recovery. Last week Danish toy company Lego received a license for a $1-billion factory in the southern province of Binh Duong. The company’s second largest factory in Asia and sixth largest in the world is among the fastest to be approved in Vietnam with all procedures being completed within six months.

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Colliers News Stimulating demand before the risk of inflation, what are real estate enterprise considering? www.cafef.vn "For investors, enjoying many incentives during this period will help them have the opportunity to earn better profits in the future. In addition, they also have more conditions to allocate capital into other investment channels. There are investors who believe that a new growth cycle is starting and need to "take advantage" of this time. This is a grounded belief when business is on the way to recovery, bringing a lot of optimistic signals," emphasized Colliers Vietnam expert.

Mr. David Jackson CEO of Colliers Vietnam

Vietnam's Q1 GDP growth tops 5%, though headwinds seen www.tuoitrenews.vn Vietnam’s gross domestic product grew 5.03% in the first quarter from a year earlier, official data showed on Tuesday, as the Southeast Asian country reopened more parts of its economy after relaxing coronavirus restrictions. The pace of economic growth beat the 4.72% recorded in the first quarter last year and compared with 5.22% in the fourth quarter of 2021.

A corner of the first Vietnam-Singapore Industrial Park (VSIP1) in Thuan An city, Binh Duong

Foreign investment disbursements at highest level since 2018 www.thesaigontimes.vn In the year to March 20, Vietnam had attracted US$8.91 billion in foreign investment, down 12.1% year-on-year. However, the disbursed foreign investment had reached the highest level since 2018, according to the General Statistics Office. The foreign investment disbursement was put at US$4.42 billion in the first quarter of this year, rising 7.8% over the same period last year, the local media reported.

Hanoi prepares funding for new metro section www.vnexpress.vn Prime Minister Pham Minh Chinh has approved technical assistant funding for a new metro section in Hanoi. The technical assistance project will cost $15 million, including $12.6 million of non-refundable aid from the Asian Development Bank (ADB) and European Union, with the rest drawn from Vietnamese counterpart capital, Hanoi Metropolitan Railway Management Board (MRB) stated Monday. The project will allow Hanoi to complete the pre-feasibility report for a new metro section that will run 8.7 kilometers underground to connect downtown Hanoi Railway Station with the southern Hoang Mai District.

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Colliers News Expert: Entering the Vietnamese F&B market, if not now, when? www.toquoc.vn “Vietnam is developing, rapidly urbanizing, population is growing, middle class is expanding and consumer spending is increasing. The market is in great demand for products and international famous brands. If you ask if this is the time to target Vietnam, when to enter this market, the simple answer is right now. Take advantage of the opportunity because Vietnam is an exciting place with great people and culture! Business opportunities and success are waiting for you”, emphasized Mr. David Jackson, CEO of Colliers Vietnam.

Mr. David Jackson CEO of Colliers Vietnam

Land prices on the rise as foreign giants choose Vietnam for investments www.vietnaminsider.vn A number of investment projects worth billions of dollars have been registered, which shows continued growth of the economy and the industrial real estate sector. Nikkei Asia cited Phil Davis from Amazon Web Services as reporting that Amazon plans to expand its data center network in Asia Pacific by building local data centers.

Land prices on the rise as foreign giants choose Vietnam for investments

Work begins on passenger terminal of Long Thanh airport project www.thesaigontimes.vn After a month of leveling the ground and developing a wastewater drainage system, the Airports Corporation of Vietnam (ACV) today, March 30, started work on a package to drive piles into the ground at the Long Thanh International Airport passenger terminal construction site. The package is part of the third component, including the passenger terminal, the cargo terminal and other infrastructure facilities, of the first phase of the big-ticket airport project, the local media reported. There will be 1,560 piles of 800, 1,000 and 1,200 millimeters being driven into the ground to build the foundation of the passenger terminal.

Light rail transit to link HCMC urban area with new airport www.vnexpress.vn A light rail transit route will link the Thu Thiem New Urban Area in HCMC's Thu Duc City with the Long Thanh International Airport that is under construction. Deputy Prime Minister Le Van Thanh Wednesday asked the Ministry of Transport to work with HCMC and its neighboring province of Dong Nai, home to the airport, on getting the project implemented. The light rail transit route will run 38km (23.6 miles) and cost an estimated VND40.5 trillion ($1.75 billion) to build.

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