Monthly Real Estate News | September 2019 by Vietnam Realty

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VIETNAM MONTHLY REAL ESTATE NEWS - September 2019 -

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Daily Real Estate News Highlights Vietnam - 03 September 2019

Top 5 - Daily Updated Real Estate News Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Vietnam Real Estate Symposium 2019 set for HCMC

Vietnam Economic Times Directors and experts to provide key observations, analysis, and predictions about the future of Vietnam’s real estate market. Auscham, in an exclusive partnership with Cushman & Wakefield, will host the Vietnam Real Estate Symposium 2019 at the Sofitel Saigon Plaza in Ho Chi Minh City on September 12.

M&A deals riding high in real estate

Vietnam Real Estate Symposium 2019 set for HCMC.

Vietnam Investment Review The merger and acquisition (M&A) market since last summer has witnessed a surprising switch among top segments, with major activities in real estate overcoming consumer goods, leading to positive signs for the market for the next 12 months. Vingroup retained its top position in large-scale transactions, with moves such as selling stakes equivalent to $1.3 billion to Singaporean sovereign wealth fund GIC and $1billion to SK Nam Long Waterpoint township in Long An province is one of the maGroup of South Korea.

Property shares: seek opportunities in each sector

jor real estate M&A deals powering the market.

Dau Tu Chung Khoan Year-to-date, many property shares have recorded sharp price increase, along with many devaluated ones. The differentiation is anticipated to continue happening in final months of 2019. Le Duc Khanh, strategic director of PSI, said that investment opportunities on property shares are still available in general. Market-leading or competitive shares like VIC of Vin Group, NVL of Novaland, DXG of Dat Xanh Group,… continue to attract investment inflow and receive attention from investors, especially when property shares are now uneventful compared early this year.

Vietnam is ripe for private equity investors as US-China trade war drags on

Vietnam Insider As American companies plan to move their manufacturing bases outside China, countries in Southeast Asia could be the biggest beneficiaries, Sandeep Naik, head of India and Southeast Asia at General Atlantic, told CNBC’s “Street Signs ” on Tuesday. “If you look at certain sectors like auto and chemicals, you see a large outflow of those manufacturing opportunities moving to Vietnam,” he said, adding that the investor community is closely watching for new investment destinations in the region.

EVFTA brings many benefits for protecting intellectual property rights in VN

The Voice Of Vietnam The EU-Vietnam free trade agreement (EVFTA) is expected to bring many benefits in protection of intellectual property rights in Viet Nam. Minister of Industry and Trade Tran Tuan Anh delivered the message at a conference on important commitments on intellectual property held in Hà Noi on August 27. The implementation will help Vietnamese enterprises protect the results of investment to creative activities from innovation of new technologies, designs and packaging to brands of products and services, he said “In addition, EVFTA also provides many opportunities to access EU markets,” Tuan Anh told Vietnam News Agency. For market research reports, please visit our website at www.colliers.com

This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). All material are sourced and collated in this document by Colliers is from the public domain. ©2019. All rights reserved. vietnam.media@colliers.com

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Daily Real Estate News Highlights Vietnam - 04 September 2019

Top 5 - Daily Updated Real Estate News Colliers Internationalâ&#x20AC;&#x2122;s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Vietnamese firms invest nearly $440m abroad

Viet Nam News Total outbound Vietnamese investment topped nearly US$440 million from the beginning of this year to August, according to the Foreign Investment Agency under the Ministry of Planning and Investment. Approximately $340 million was poured into 102 newly-licensed projects while the A harbour in Australia. The country received the largest share of Viremaining $99.6 million was injected into 23 already operating projects.

HCM City to combat laundering in real estate

Bizhub The HCM City Department of Construction (DoC) has asked real estate companies, brokers and trading floors in the city to strengthen preventive measures against money laundering and terrorist financing. The department asked the bodies to strictly follow regulations on customer identification, updating customer information, reviewing transactions and carefully monitoring transactions by high-risk customers.

etnamese outbound investment in the first eight months of this year.

New Corporate Governance Code brings best practices to HCM City to combat laundering in local businesses real estate.

Vietnam Investment Review Launched in mid-August 2019, the Vietnam Corporate Governance Code of Best Practices is expected to raise the quality of corporate governance in Vietnamese public and listed companies. The Vietnam Corporate Governance Code of Best Practices was developed by the State Securities Commission of Vietnam with support from the International Finance Corporation (IFC), the World Bank, and the Swiss State Secretariat for Economic Affairs (SECO). This is the first corporate governance code researched and released specifically for the Vietnamese market, in compliance with current legislation.

Eight-month FDI disbursal rises 6.3 pct

VnExpress Foreign investors brought in $11.96 billion in January-August, up 6.3 percent year-on-year, the Ministry of Planning and Investment says. But FDI commitments in the period were down 7.1 percent to $22.63 billion, the ministry stated. Of this amount $15.74 billion, or 69.6 percent, is in manufacturing, $2.31 billion (10 percent) in real estate and $1.9 billion (5.2 percent) in wholesale and retail sector. Hong Kong continued to be the top source, accounting for 24.9 percent, followed by South Korea and Singapore with 15.4 percent and 14.5 percent respectively.

Real estate companies are expecting a strong finish for 2019

Dau Tu Chung Khoan For property firms, the rise of profit often happens in the latter half of a year, as this period is the peak of their business. Tu Liem Urban Development Company (NTL)â&#x20AC;&#x2122;s business results have begun to change since Q2-2019, with revenue of VND317.5 billion and after-tax profit of more than 84 billion, which is 10 times higher year-on-year. Aside from NTL, other property firms also record thriving profit growth in first-half 2019, such as Ha Group (HDG) with an after-tax profit of VND627 billion. For market research reports, please visit our website at www.colliers.com

This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). All material are sourced and collated in this document by Colliers is from the public domain. ÂŠ2019. All rights reserved. vietnam.media@colliers.com

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Daily Real Estate News Highlights Vietnam - 05 September 2019

Projects are storming the real estate market in the Ghost month

CafeLand Contrary to the concept of avoiding real estate trading in the seventh lunar month, this year’s market in the month showed positive signs; many special projects attracted clients on the first day of launch, without having Projects are storming the real esto offer incentive programs as usual. tate market in the Ghost month.

Foreign investors pour over US$22.63 billion into Vietnam first eight months

Vietnam Insider According to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment, $9.13 billion was poured into 2,406 new projects, down 32.3 percent and up 25.4 percent year on year, respectively. Nearly $4 billion was added to 908 existing projects, down 28.6 percent and up 23.4 percent, respectively, the FIA said, noting that during the eight Foreign investors pour over months of 2019, there weren’t any projects with big additional capital like US$22.63 billion into Vietnam first eight months. in the same period last year.

Vingroup buys out Queenland Mart

VnExpress Private conglomerate Vingroup has acquired supermarket chain Queenland Mart, as it continues its buying spree since last year to expand. Queenland Mart’s eight stores, mostly in Ho Chi Minh City’s Districts 2 and 7, began operating as Vingroup’s VinMart outlets on Sunday, Vingroup said in a statement without revealing the value of the deal. Queenland Mart membership will be transferred to VinID, the customer care service of conglomerate Vingroup, which owns VinMart supermarkets and VinMart+ convenience stores across the country.

“Golden age” to invest in Ha Long real estate

Vietnamnet With adequate infrastructure, facilities, and economic growth, the year 2019 can be the perfect time to invest in Ha Long real estate. Besides Phu Quoc, Da Nang, Nha Trang, Ha Long is one of the beach cities that have the most attractive property markets. In Quang Ninh, there have been a number of completed projects which play an important role to the city’s growth in 2019, such as Ha Long international ship port, Van Don international airport, Ha Long - Hai Phong and Ha Long - Van Don expressway.

Three top travel agencies to equitise soon

The Voice Of Vietnam Three leading travel agencies in Vietnam, which own a range of luxury hotels, look set to equities by the end of next year. They are Saigontourist Holding Company, Ben Thanh Group and Hanoitourist Travel Co Ldt. The three companies are included in the list of 93 State-owned enterprises that were approved for equitization before the end of 2020 under a decision recently signed by Prime Minister Nguyen Xuan Phuc. Hanoi tourist Corporation was established in 1963 and converted to a limited liability company in 2010. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 06 September 2019

Many urban projects in the South and East of Saigon have set new price levels

CafeF Scarcity of new supply and the investor’s periodic infrastructure investment are considered the main reasons for the sharp increase in prices in the secondary market of townhouses and villas in many urban areas in Ho Chi Minh City. Specifically, Van Phuc urban area (Thu Duc District) recorded an average increase of 30%/year.

Vietnam’s MoT proposes to buy back all non-State stake in Airports Corporation

Deal Street Asia Vietnam’s Ministry of Transport has proposed to buy back close to 4.5 percent stake, that’s currently not owned by the state, in Airports Corporation of Vietnam (ACV), local media reported. If the proposal goes through, ACV will become a 100 percent state-owned firm – a process that will ensure the highest standards of national security for aviation, the ministry said in a proposal is sent to the government.

Many urban projects in the South and East of Saigon have set new price levels.

A terminal at Noi Bai International Airport.

Why do real estate firms have high demand for bond issuance? Dau Tu Bat Dong San

If taking 2018 as a benchmark, the demand for long-term bond issuance of real estate businesses has become significantly strong. Vingroup, Novaland, Phat Dat, Khang Dien, Ha Do, Van Phu, Dat Xanh, TTC Land, CII,... have announced their plans to issue bonds to supplement capital for business activities. According to Mr. Bui Nguyen Khoa, Head of Macro Group, BIDV Securities Company (BSC), the reason why real estate companies promote to issue bonds is because the credit channel is being tightened, while the regulations on issuing separate bonds are less strict than before. US-China trade war: Could Vietnam be the biggest winner? Vietnam Insider

A string of companies are starting to shift production there from China to minimize the impact of the trade war after Washington imposed a fresh round of tariffs on an array of Chinese imports. Last week, it emerged that Google could be moving production of its Pixel smartphone and smart speaker out of China to a former Nokia plant in Vietnam while Apple has also reportedly been considering similar steps. Building the mechanism for sturdy FDI efficiency Vietnam Investment Review With significant contributions of foreign investment to Vietnam’s social-economic development over the past 30 years, Vietnam is working to increase its quality and efficiency for future attraction. Le Net from LNT & Partners and Nguyen Hung Quang from NHQuang & Associates delve into the last three decades and also look at the importance of new orientations for future investment prospects. Looking back at FDI over the last 30 years, the results have been very positive, and a group such as Samsung is a perfect example. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 09 September 2019

Top 5 - Daily Updated Real Estate News Colliers International’s Residentail Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Why are apartments in Binh Duong - the suburban Ho Chi Minh City – still sold out?

VNEconomic In the first 6 months of 2019, Binh Duong real estate market is vibrant recording transactions for more than 7,200 apartments from 10 projects. It is worth noting that besides receiving large supply, the apartment segment in Binh Duong has also set a new price level ranging from 25-35 million/m2.

Charm City Project.

Vinh Phuc succeeds in attracting FDI

Vietnam Plus The northern province of Vinh Phuc has reaped impressive achievements in attracting foreign direct investment (FDI) over the past three decades, thanks to favorable geographical location and determination to improve the business environment. The province is now home to over 9,700 foreign businesses, against the only 136 recorded in 1997.

Saigon metro lines see completion dates pushed back, again

A view of Vinh Phuc.

VnExpress HCMC’s first two metro routes will be delayed yet again, a recent progress evaluation report submitted by the city transport department indicates. The Ben Thanh-Suoi Tien metro line, previously scheduled for a late 2020 deadline, can begin operation no earlier than the fourth quarter of 2021. The Ben Thanh to Tham Luong line has been pushed back from 2024 to 2026. The first one has been delayed because the Ministry of Construction has yet to comment on the project’s design adjustments while the city Department of Planning and Investment has not completed papers on funding appraisal.

HCM City to combat laundering in real estate

Vietnam Investment Review The HCM City Department of Construction (DoC) has asked real estate companies, brokers and trading floors in the city to strengthen preventive measures against money laundering and terrorist financing. The department asked the bodies to strictly follow regulations on customer identification, updating customer information, reviewing transactions and carefully monitoring transactions by high-risk customers. They were also told to send reports on suspicious transactions and reports on cash transactions worth VND300 million (US$12,800) or more to the Department of Housing and Real Estate Market Management under the Ministry of Construction and the State Bank of Viet Nam’s Anti-Money Laundering Department.

Vietnam serves as bridge connecting ASEAN and EAEU

The Voice Of Vietnam Vietnam is an active and responsible member in ASEAN, and the first partner to sign a free trade agreement (FTA) with the Eurasian Economic Union (EAEU), said Deputy Prime Minister Trinh Dinh Dung at a discussion within the fifth Eastern Economic Forum in Russia’s Vladivostok city on September 4. He affirmed Vietnam’s readiness to act as a bridge helping Russia as well as the Eurasian Economic Union (EAEU) expand ties with the Association of Southeast Asian Nations (ASEAN). For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 10 September 2019

A sweet home for mighty investors

Vietnam Investment Review Beyond showcasing the most magnificent landscapes and diverse culture, the Central Coast region is focusing on creating a home-sweethome environment to attract “great eagle” investors to build stable hubs. Attending an investment promotion conference in the central province Bai Bac Beach was transformed of Phu Yen last year, Prime Minister Nguyen Xuan Phuc described the when the InterContinental Danang leading local and international investors as mighty eagles and key projects Sun Peninsula Resort was put into as the sustainable and durable nests of these majestic creatures. operation

Saigon plans $296 million underground shopping complex

VnExpress A VND6.8 trillion ($296 million) underground shopping complex near the iconic Ben Thanh Market is scheduled to begin operations in 2021. The complex will be next to Ben Thanh underground station, part of the city’s upcoming 20-kilometer metro line number 1, Ben Thanh – Suoi Tien. It is scheduled to begin operations just as the line is completed.

Work on the Ben Thanh underground station of HCMC’s metro line 1, in front of Ben Thanh Market. China leads foreign investors in Vietnam in first eight months

Vietnam Insider

According to a report, released by the General Statistics Office of Vietnam (GSO) on August 29 indicates that between January and August 20, Vietnam had 2,406 foreign direct investment (FDI) projects granted investment permits, with a combined registered capital of US$9.127 billion, representing a year on year increase of 25.4 percent in the number of projects and a fall of 32.3 percent in registered capital. As many as 908 licensed projects were seen making adjustments to their investment capital worth an added US$3.989 billion, a slump of 28.6 percent on year. Retail sales up 11.5pc in January-August Vietnam Investment Review Vietnam’s total revenues for retail trade and services reached an estimated VND3.21 quadrillion (US$137.4 billion) in the first eight months of 2019, up 11.5 percent year on year, the General Statistics Office (GSO) has announced. This positive growth proved the rising demand of local people, GSO statisticians have said, adding that if the price factor was excluded, purchasing power in the first seven months increased by 9.03 percent, higher than the 8.9 percent recorded in the same period of last year.

Vietnam desires stronger judicial cooperation with US

The Voice Of Vietnam A delegation from the Supreme People’s Court led by Chief Judge Nguyen Hoa Binh paid a working visit the US from August 28 to September 6 to seek stronger judicial cooperation between the two nations. At a working session at the US Federal Judicial Centre as part of the visit, the delegation called for support from US partners to help Vietnam revamp its legal system, especially in procedural law, the development of case law, and settlement of intellectual property disputes. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 11 September 2019

Vietnam to build $1.3 billion expressway in Mekong Delta

VnExpress A state-owned construction company is planning to build a 155 km (96 mile) expressway through the Mekong Delta using ODA and public funds. The Cuu Long Corporation for Investment Development and Project Management of Infrastructure (Cuu Long CIPM) has worked with authorities in the delta’s Can Tho City and Hau Giang Province to appraise the options for its proposed Chau Doc-Can Tho-Soc Trang expressway.

Vehicles on HCMC-Trung Luong, the only expressway now running across the Mekong Delta.

Industrial sector continues being the key driver of economic growth

Vietnam Investment Review Industrial growth should remain elevated and a key driver of economic growth going forward, spearheaded by a burgeoning manufacturing sector, especially electronics and mining. Over recent weeks the domestic The strongly developing industrial market has witnessed Samsung begin marketing its Galaxy Note 10 and sector, especially electronics, conGalaxy Note 10+ smartphones, the latest flagship devices of the South tinues serving as the key impetus for economic growth export. Korean conglomerate.

Japanese agencies signs memo to support agriculture in Nghe An province The Saigon Times

A Memorandum of Cooperation (MOC) to improve cooperation in the development of Nghe An province was signed on September 5 by the People’s Committee of Nghe An province, the Japan International Cooperation Agency (JICA) Vietnam Office and the Japan External Trade Organization (JETRO) Hanoi Office. Within the MOC’s framework, the three parties agreed to work together in the future development of Nghe An province in agriculture and rural development, promotion of investments of Japanese enterprises in Nghe An province, and the development of global human resources. JICA has been implementing several ODA projects to support the agriculture sector in Nghe An province. An Agricultural Marketing Platform (AMPF) promoting food value chain was established under JICA’s Technical Cooperation Project for development planning on agriculture development in Nghe An province (March, 2016 - April, 2019). Viet Nam a magnet for foreign investors amid US-China trade war

Bizhub Viet Nam is now in a position to attract even more investors and promote mutual prosperity with the US, despite the uncertainties caused by the US-China trade conflict, a US official said at a trade forum on Friday in the city. Mary Tarnowka, executive director of AmCham Viet Nam in HCM City, said: “The US-China trade conflict and resultant uncertainty have the potential to create opportunities for Viet Nam and AmCham Viet Nam since firms look to diversify their supply chains to destinations such as Viet Nam.”It will also create additional challenges,” said Tarnowka, who is also the US consul general in HCM City. “The escalating trade conflict between China and the US affects AmCham Viet Nam’s members, including big, medium and small ones, in several ways.”

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Daily Real Estate News Highlights Vietnam - 12 September 2019

New life style in a complex urban area in Lang Son

Dau Bao Located in the land of the former Lang Son cement factory of 5.5ha, frontage of National Highway 1A, Phai Duoc village, Mai Pha commune, Apec Diamond Park is the first urban complex project in Lang Son invested by IDJ Vietnam Joint Stock Company. The project provides products of New life style in a complex urban apartments, commercial townhouses, meeting increasingly diverse needs area in Lang Son of customers in the surrounding provinces and localities.

Ben Thanh underground trade center to be built in Ho Chi Minh City

Vietnam Investment Review Ben Thanh underground trade centre will be located under Quach Thi Trang Square, at the first basement (B1) of Ben Thanh Metro station 500 metres under District 1’s Le Loi street. This means the project is under Ben Thanh market and stretches all the way to Ho Chi Minh City’s Ben Thanh underground trade center to be built in Ho Chi Minh City Municipal Theatre.

Singapore fund leads $500 million investment in Vingroup

VnExpress A consortium led by Singapore sovereign wealth fund GIC signed an agreement to invest $500 million in a retail unit of private conglomerate Vingroup. It would get a minority stake in VCM Services and Trading Development JSC (VCM), a subsidiary of Vingroup engaged primarily in consumer retail in Vietnam, GIC said in a statement on its website on Monday.While the amount of stake has not been disclosed, GIC said Vingroup would remain the controlling shareholder after the transaction.

Preparing to start 7 projects of congestion reduction at the gateway of Ho Chi Minh City CafeF

In addition to 2 projects including the tunnel of Nguyen Van Linh - Nguyen Huu Tho intersection (District 7) and the project of flyovers in front of the new Eastern bus station, the Project Management Board on construction of transport works in Ho Chi Minh City has also developed investment plans for 5 projects to expand the roads at the gateways to Ho Chi Minh City, including the expansion of National Roads 1, 13, 22, 50 and An Phu intersection. Binh Phuoc endorses Japanese investment

Bizhub Authorities in the southern province of Binh Phuoc on September 9 had a working session with Japanese-based multi-sectoral Mitani Sangyo group, which is running in seven companies in Vietnam. Secretary of the provincial Party Committee Nguyen Van Loi said Binh Phuoc welcomes Japanese investors, including Mitani Sangyo. He stressed the province encourages the development of support and high-tech industry and is committed to creating the best possible conditions for investors in terms of policy, taxation, and land leasing prices. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 13 September 2019

Work to begin on central section of North-South Expressway

VnExpress Construction work on a VND7.7 trillion ($331 million) section in the central part of the North-South Expressway will begin next week. The 98-kilometer Cam Lo-La Son section, which connects the central provinces of Quang Tri and Thua Thien Hue, will have four lanes with a width of 23 meters when finished in 2021. The expressway will allow speed up to 80 kilometers per hour.

Dong Nai wants to transform Bien Hoa 1 industrial park into smart city

Vietnam Investment Review The province has submitted a document to the government proposing the removal of Bien Hoa 1 industrial park (IP) from the national IP planning, according to a report by Dong Nai Newspaper. Removing it from the planning would be the first step to changing the IP’s function. According to the province’s plans, after companies relocate from the IP, the province will be able to call for new investors to develop a smart complex of urban residences, shopping, and provincial administration.

An artist’s impression of the Cam Lo - La Son Expressway.

Dong Nai wants to turn Bien Hoa 1 IP into a smart urban area

Peak season has come Dau Tu Bat Dong San

After nearly two-thirds of the year 2019 have passed with problems gradually being addressed, many investors have planned for their products to be marketed. This signals the real estate market in Ho Chi Minh City starts to enter a vibrant trading season towards the end of the year. Specifically, in the South of the city, a large project with a total area of nearly 350 hectares invested by Nha Be GS Development Co., Ltd. (Korea) will be reintroduced to the market after many years of abandonment. Vietnam’s new solar farm, Southeast Asia’s largest, opens in Tay Ninh The Voice Of Vietnam

According to Tuoi Tre, the inauguration of the Dau Tieng Solar Power Complex, a cooperative project between the Xuan Cau Holding Co Ltd. and Thai conglomerate B.Grimm took place this past Saturday. The US$392 million complex covers an area of 540 hectares in semi-submerged land at Dau Tieng Lake in Tay Ninh Province and has an installed capacity of 420 MW. It is expected to provide Vietnam’s national electricity grid with about 688 million kWh per year. Anland Premium: High-end apartments with the most affordable price in Ha Dong Vietnam Investment Review Anland Premium is assessed as one of the most liveable projects in Ha Dong District, thanks to apartment pricing from VND24 million/sq.m, as well as distinguishable utilities that are being finished and will be soon operational such as astronomy park, music park, Aeon Mall mega commercial center, Le Quy Don inter-level school, Japan international schools, International schools, etc. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 16 September 2019

HCMC: Early report to the Prime Minister on the situation of foreign investment in the field of real estate Reatimes According to the statistics of Ho Chi Minh City Statistical Office, in the first half of 2019, Ho Chi Minh City had 572 foreign direct investment (FDI) projects granted investment certificates with a total registered capital of 528 million USD. In addition, there were 2,209 investors contributing capital and buying shares with a total amount of 2.27 billion USD.

HCM City seeks to develop urban river-canal network

Vietnamnews Secretary of the HCM City Party Nguyen Thien Nhan said at a conference held on Tuesday that the city expects to outline a plan to build embankments and improve management of land along rivers and canals by the year-end. The conference was held to discuss long-term solutions to develop the Sài Gòn River and urban river-canal network to 2025.

HCMC: Early report to the Prime Minister on foreign investment in the field of real estate.

South Korean investors unveil smart urban area plans for HCM City plans to develop the potential of the Sài Gòn River and the Long An Province city’s river-canal network.

Bizhub With its excellent geographical location for trade and economic development and the potential to become the country’s leading agricultural hub, Long An Province is ideal for developing a smart urban area, according to experts. Le Thanh, director of the Institute of Organic Agricultural Economics, said as a gateway connecting HCM City and the Cuu Long (Mekong) Delta and with its excellent transport system, it has everything required to become an agricultural - industrial smart urban area.

Vietnam ranks second in Expat Insider 2019 survey for destinations worldwide

Vietnam Insider Taiwan (first), Vietnam (second) and Portugal (third) stand out for their excellent results in the survey. All of them attract expats with their ease of settling in and good personal finances. While expats in Taiwan and Portugal are also extremely satisfied with the quality of life, those in Vietnam appreciate their great work life. At the other end of the ranking, Kuwait was 64th and Italy and Nigeria tied as the worst destinations for expats in 2019.

Draft rules on property firms’ international bond issuance contested

The Saigon Times At a discussion session of the National Assembly (NA) Standing Committee on the draft revised Securities Law on September 9, NA Chairwoman Nguyen Thi Kim Ngan wanted to know which agencies would be in charge of controlling the issuance of bonds by real estate firms and how they would be controlled. The NA Standing Committee had earlier agreed to add regulations to Decree 163/2018/ND-CP on the issuance of corporate bonds. However, some problems may arise if these regulations are added into law, NA Vice Chairman Phung Quoc Hien remarked. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 17 September 2019

Nha Trang: Gathering comments on the architectural planning management of coastal urban areas

CafeF People’s Committee of Nha Trang city has just gathered public opinion on the management regulations of architectural planning of the coastal urban area built by the Department of Construction of Nha Trang. The Nha Trang: Gathering comments researching scope is of streets with a total area of 2,781 ha, including on the architectural planning manareas as follow: the North adjacent to Co Tien mountain (Vinh Hoa ward); agement of coastal urban areas the South bordering Tac River and Nha Trang Bay; etc.

Real estate dented by surging delays

Vietnam Investment Review Today’s real estate and construction scene are heavy with projects running behind schedule and works of poor quality causing exasperating problems for homebuyers and authorities alike. After being contacted by several frustrated homebuyers at Manhattan Tower in Hanoi, VIR contacted both the investor and relevant parties to clarify the reasons behind the delay in construction.

Real estate dented by surging delays

State domestic revenue rises 14% to US$34.8 billion in eight months Bizhub

The State budget’s domestic revenue in the first eight months of 2019 is estimated at VND808.8 trillion (US$34.8 billion), according to the Ministry of Finance. The figure is equal to 68.9 percent of the full-year plan and up 13.9 percent year on year. The domestic revenue is made up of a variety of taxes and charges and collected from different sources such as State-owned, FDI and private enterprises, agricultural land use, personal income and vehicle registration. It is also estimated that domestic revenues collected by 55 of all 63 provinces and cities have beat the full-year target, which is set at 65 percent. Of the figure, 46 provinces and cities recorded that their domestic revenues fulfilled 68 percent of the year’s target. GIC-led consortium invests $500m in Vietnamese conglomerate Vingroup Deal Street Asia Singapore’s sovereign wealth fund GIC has led a consortium to invest $500 million in the retail business of Vietnamese behemoth Vingroup, according to an announcement. The consortium has acquired a minority stake in VCM Services and Trading Development Joint Stock Company, a unit of Vingroup that was recently established to oversee its operations of supermarket and convenience store chains. Following the transaction, Vingroup will continue to be the controlling shareholder of VCM, GIC said in a statement. “As a long-term investor, GIC is confident in the growth outlook for disposable incomes and household consumption in Vietnam,” it added. Last month, Vingroup split VinCommerce, the former entity that ran its retail business, into P&S Trade and Investment JSC and Adayroi Commerce and Service Development JSC.

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INDUSTRIAL & RESIDENCE DEVELOPMENT LAND Phuoc Binh Commeune, Long Thanh District, Dong Nai Province

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1 hr 33 mins driving

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INDUSTRIAL SECTION

1,990,310.5 SQ. M

100%

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Land for Factories

1,373,314.2 sq. m

69%

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Land for Services, Management and Support

99,515.5 sq. m

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Land for Technical Purpose

39,806.2 sq. m

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Land for Transportation

199,031.1 sq. m

10%

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Land for Landscaping (Green area, water-surface, etc.)

278,643.5 sq. m

14%

RESIDENTIAL SECTION

2,364,577.5 SQ. M

100%

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Land for Residential

1,371,455.0 sq. m

58%

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Land for Mixed-use

189,166.2 sq. m

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Land for Transportation

425,624.0 sq. m

18%

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Land for Landscaping (Green area, park, water-surface, etc.)

378,332.4 sq. m

16%

TOTAL

4,354,888 SQ. M

100%

Daily Real Estate News Highlights Vietnam - 18 September 2019

Da Nang makes great efforts to attract investment in local hi-tech businesses

Vietnam Insider The Da Nang Hi-Tech Park was established in 2010, covering an area of 1,128 ha in Hoa Lien and Hoa Ninh communes, Hoa Vang district. In recent years, Da Nang has focused on investing in technical infrastructure for the hi-tech park, while developing preferential policies to attract businesses specialized in producing and providing hi-tech services, research, incubation and hi-tech applications.

Da Nang makes great efforts to attract investment in local hi-tech businesses

Vietnam needs to complete land market: experts

Vietnam Investment Review Vietnam was urged to complete the land market to meet requirements and ensure development, experts said. Vietnam was urged to complete the land market to meet requirements and ensure development, experts said. Tran Quoc Toan, former Vice Chairman of the Government Office, said there were many shortcomings relating to the land market.

Vietnam needs to complete land market: experts

Sunshine Homes is gradually reaching out to the world by recruiting high-ranking personnel CafeF

In its latest personnel decision, Sunshine Group officially appoints Duong Thi Mai Hoa as one of its senior staff. Accordingly, Mrs Hoa is being appointed the company’s deputy chairman of the board of directors, as well as CEO of Sunshine Homes, a property development brand under Sunshine Group. By finalizing the brand’s senior leaders, Sunshine Group anticipates that Sunshine Homes will become one of the market-leader in Vietnam real estate market, as well as achieve new advancements in the international market. Vietnam-Germany Innovation Network debuts The Voice of Vietnam The Vietnam-Germany Innovation Network (VGI) was officially launched at a ceremony at the Humboldt University of Berlin, Germany on September 14. In his remarks, Vietnamese Ambassador to Germany Nguyen Minh Vu stressed that Germany is always one of Vietnam’s most important partners in the European Union (EU), and Vietnam is one of Germany’s three biggest economic partners in the Association of Southeast Asian Nations (ASEAN).

Ho Chi Minh City steps up investment ties with Cuba

Nhan Dan Nguyen Thanh Phong, Chairman of the People’s Committee of Ho Chi Minh City, and visiting Cuban Minister of Foreign Trade and Investment Rodrigo Malmierca Diaz discussed ways to promote investment ties between the Vietnamese southern metropolis and Cuba, during their meeting on September 13. Chairman Phong rejoiced at the fruitful development of the Vietnam-Cuba special friendship, solidarity and comprehensive cooperation. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 19 September 2019

Ho Chi Minh City green-lights Lotte Eco-smart City

Vietnam Investment Review Ho Chi Minh City People’s Committee will propose Prime Minister Nguyen Xuan Phuc to permit Korea’s Lotte Group to continue its Eco-smart City located in Thu Thiem New Urban Area. The committee’s Deputy Chairman Vo Van Hoan said that the city welcomes and would create favorable Lotte Eco-smart City will be built conditions for Lotte Group to continue its projects which can become a in Function Area 2A of Thu Thiem landmark of Thu Thiem and the entire city. New Urban Area.

Binh Thuan prepares a “playground” for large investors with a series of billion-dollar projects

CafeF In addition to industry (processing, manufacturing, and renewable energy), tourism, high-class entertainment, commercial services, and residential areas will be important categories that Binh Thuan is calling for investment at the Investment Promotion Conference 2019 which takes Binh Thuan prepares a “playground” for large investors with a series of place on 21-22 September.

Phu-My-Hung unveils The Ascentia

billion-dollar projects

Bizhub

Phu My Hung Development Corporation has launched a new condo project called The Ascentia in its Phu My Hung City Centre in District 7, HCM City. Positioned as a high-end project, The Ascentia is coming up on Nguyen Luong Bang Street, one of the busiest roads in the Phu My Hung City Centre and close to office buildings and hotels including Lawrence S Ting, Broadway, Unilever, SECC, Saigon Paragon and Crystal Palace. Foreigners’ access to title documents in Vietnam remain obstructed by legal challenges? Vietnam Insider

The Finnish husband of Huynh Truc Mai was happy when he bought an apartment in District 2, HCMC, two years ago, and was eager to have their names appear as joint owners. But this was denied because he was not Vietnamese. Mai said: “Eventually my husband had to agree I will be the sole owner of the house on paper. He was upset.” Mai’s husband is among many foreigners who have bought houses in Vietnam but are unable to get a pink book, which is the title deed to apartments and houses. VN-Index almost falls, real estate and consumer firms advance

Bizhub Vietnamese shares traded marginally Tuesday morning while large-cap residential real estate and consumer goods companies advanced to cushion the market. The benchmark VN-Index on the Ho Chi Minh Stock Exchange inched up 0.08 percent to close at 990.63 points. The VN-Index gained slightly by 0.27 percent on Monday. Nearly 105 million shares were traded on the southern bourse, worth nearly VND2 trillion (US$86 million). The market sentiment turned negative as all sub-indices fell in the morning session. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 20 September 2019

New face of the north of Nha Trang city

VTC News The northern area of Nha Trang city is gradually forming a new tourist town, reducing pressure on the city center. Nha Trang is currently facing great pressure on the city’s infrastructure when it becomes one of the most popular destinations for both domestic and foreign tourists. In the center of Nha Trang today, especially the main streets located along the Military family housing area in Vinh coast where there are many high-rise buildings and hotels, traffic jams Hoa Ward is being sought by invesare no longer as rare as they were 10-15 years ago. tors and local people.

BIM Land to get $87.5m from IFC to develop tourism in Việt Nam and Lao PDR

Vietnamnews BIM Land Joint Stock Company, a property developer under BIM Group, just reached an agreement with International Finance Corporation (IFC), a member of the World Bank Group, for a loan of up to US$87.5 million to develop tourism infrastructure in Viet Nam and Laos. Tourism is one of the key growth drivers for both countries.

Ha Long Marina project developed by BIM Land in Ha Long City.

Novaland launches real estate centre in Hanoi Vietnam Plus

As part of a series of activities to celebrate the 27th establishment anniversary of Novaland Group - a major developer based in Ho Chi Minh City, Novaland Real Estate Centre has just been officially opened at 63 - 65 Ngo Thi Nham Street in Hanoi’s Hai Ba Trung district. The new centre will be acting as a bridge to introduce them to the Northern investors of the group’s latest products and bring quality customer services on par with Novaland standards. Long Thanh airport may face delays The Saigon Times

Over 1,400 households have yet to hand over their land to the investor in the Long Thanh International Airport project, making it hard for the megaproject to proceed as scheduled, Thanh Nien newspaper reported. Nguyen Dong Thanh, director of the Land Fund Development Center of Dong Nai Province, on September 16 told the newspaper that the site clearance process is being sped up to ensure cleared land could be handed over as scheduled on December 31. Vietnam, Bangladesh aim for US$1 billion in two-way trade

The Voice of Vietnam The Vietnamese and Bangladeshi Governments pin high hopes on both nations’ bilateral trade target of US$1 billion this year or by 2020, has said Bangladeshi Ambassador to Vietnam Samina Naz. Trade and investment opportunities for Vietnamese and Bangladeshi businesses in Hong Kong (China) were highlighted at a seminar hosted by the Vietnam Chamber of Commerce and Industry (VCCI) in Hanoi on September 17. With the participation of nearly 50 Vietnamese and Bangladeshi firms, the seminar is hoped to open up plenty of opportunities for the two sides to exchange information and boost cooperation. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 23 September 2019

19 houses in Da Nang marina project are eligible for selling off-plan

CafeF On September 17th, the Department of Construction of Da Nang announced that at the real estate and marina project in Nai Hien Dong ward, Son Tra district, 19 off-the-plan houses will be sold. It is known that this project was approved by the People’s Committee of Danang City on its boundary map with the project area of 175,012sqm.

HCM City encourages investment in Northwestern Urban Area

Vietnamnet The HCM City Department of Planning and Architecture, after collecting feedback from local authorities, plans to ask the city People’s Committee to approve the zoning plan for the HCM City Northwestern Urban Area. The department has encouraged local residents to invest in urban embellishment projects.

Vietnam ranked among the best countries to invest in this year

19 houses in Da Nang marina project are eligible for selling off-plan

Local residents have been encouraged to cooperate and invest in urban embellishment projects in the HCM City Northwestern Urban Area.

Vietnam Insider A recent report by the US News and World Report ranked Vietnam eighth out of 29 economies, up from 23 last year. Meanwhile, some neighboring nations – Malaysia, Singapore and Indonesia – stood in thirteenth, fourteenth and eighteenth positions, respectively. According to the report, Doi moi (renewal) economic policy reforms beginning in 1986 have helped Vietnam transition to becoming a more modern, competitive nation. Vietnam’s continued efforts to lessen international isolation are shown by joining of the World Trade Organization in 2007 and participation in free trade negotiations with the Trans-Pacific Partnership in 2010.

Realty firm buys back half of its April bond notes

Vietnam News Phat Dat Real Estate Development JSC (HoSE: PDR) wants to buy back half of its bonds issued in April. The company plans to buy VND100 billion (US$4.3 million) worth of its bonds, issued on April 8, 2019, to raise VND200 billion for the company.At the issuance date, the bond notes were non-convertible, guaranteed with the firm’s 19 million shares and would mature in one year on April 8, 2020.

Binh Thuan the place for property

Vietnam Investment Review Traditional property investors have been investing in Binh Thuan for many years. Among them, Rang Dong Group boasts a range of p rojects such as Ocean Vista, Sealink Resort, and Ocean Dunes, while Viet Uc Trade and Investment JSC has Aloha Beach Village to its name. Currently, the majority of ‘golden land areas’ for resorts and other holiday developments have been occupied already – not only in Mui Ne, the heart of the province, but expanding to other neighbouring areas such as Ke Ga cape, La Gi town, and Thang Hai district. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 24 September 2019

HCMC urges PM to address problems with realty mortgages

The Saigon Times The current regulations on real estate trading, especially on mortgaging apartments that will be built in the future, have had certain adverse effects on the legitimate rights and interests of homebuyers and developers, according to the HCMC government. In a September 13 report to Prime Minister Nguyen Xuan Phuc, the city government highlighted a major obstacle to property trading, which may also affect social order. The city said the prevailing regulations allow investors of housing projects to use land-use rights certificates and to-be-built homes as collateral to take out bank loans.

An aerial view of buildings in downtown HCMC.

Vinh Phuc province records robust economic results in eight months

Vietnam Plus The northern province of Vinh Phuc enjoyed robust economic growth in the first eight months of 2019. The locality’s industrial production index in An industrial park in Phuc Yen city, August increased by 1.6 percent from the previous month and 12 percent Vinh Phuc province. from the same period last year. The growth was led by the manufacturing-processing, water supply and waste treatment, mining, electricity generation and distribution, and gas industries. The industrial production index for January-August went up 11.8 percent from the same period last year.

Vietnam’s new rules for foreign direct investments and foreign exchange control Vietnam Insider

The Circular, scheduled to take effect since September 6, 2019, regulates such activities like capital contribution, opening and use of foreign currency and Viet Nam Dong direct investment capital accounts, transfer of capital, profits and lawful incomes abroad, and transfer of investment capital, and transfer of investment projects. Applicable subjects include: (i) foreign-invested enterprises as specified in clause 2, article 3 of the Circular, (ii) local and foreign investors in foreign-invested enterprises, (iii) foreign investors that are parties to business cooperation contracts, (iv) foreign investors that are parties to public-private partnership, and (v) organizations and individuals involving in foreign direct investment in Viet Nam. Vietnam ranks eighth on list of best countries to invest in Vietnam Investment Review U.S. News & World Report has just released the ranking of the best economies to invest in this year, showing large changes, with three new faces among the top five. In particular, Vietnam surpassed its Southeast Asian neighbours including Malaysia, Indonesia, and Singapore to rank eighth, massively boosting its 23rd position last year. Fuelled by continuous growth, Vietnam itself continues to attract record foreign direct investment (FDI) volumes, bolstered by its committed to roll out an ambitious investment plan to develop overall infrastructure in major industrial poles, which will ease doing business and improve logistics. For market research reports, please visit our website at www.colliers.com

Daily Real Estate News Highlights Vietnam - 26 September 2019

Resort estate increasingly develops in Hue

Hue News According to the experts, resort estate (condotel) in tourism has developed worldwide for decades. In Vietnam, this type has been developed by investors for a few years and continues to be heavily invested in Phu Quoc, Quang Ninh, Phan Thiet, Nha Trang, Da Nang, etc. and recently in Customers visited the resort estate Hue, Binh Dinh. model of Minh Vien International

Appearance of the future Saigon riversides from the billion-dollar super projects: house price is up to VND1 billion/sqm

Joint Stock Company.

Viet Daily Currently the appearance of the two banks of the Saigon River are being changed unexpectedly. According to the plan, there are high-class residential developments, commercial areas, office buildings, 5-star hotels, and modern entertainment complexes on both sides of the Saigon River Appearance of the future Saigon riv-

ersides from the billion-dollar super Pressure on the nation’s aviation infrastructure in Vietnam projects: house price is up to VND1 billion/sqm.

Vietnam Insider

The Civil Aviation Authority of Vietnam (CAAV) has recently approved an air operator’s certificate (AOC) submitted by Vietstar Airlines, bringing the total number of licensed air operators in the country to seven. The authority also confirmed that two more AOC applications submitted by Vinpearl Air and Vietravel Airlines were pending. Vinpearl Air said it would field a fleet of six aircraft in July next year and bring in 30 more by 2025 to fly domestic and international routes. Construction planning and urbanization in Binh Thuan - One step ahead Vietnam Business Forum

Mr. Xa Duong Thang, Director of Binh Thuan Department of Construction, said that construction planning and urban planning is aimed to shape reasonable development for each period and orient long-term development of production, livelihood, architectural space, landscape and environment. In order to achieve these goals, the construction industry has strictly applied regulations on planning and construction; intensified construction investment management and supervision; constantly renovated and improved planning quality and controlled urban development process. Vietnam benefits most from Chinese company relocation amid trade war Vietnam Insider One of the top Vietnamese provider of such estates, said it expects Chinese companies to account for as much as half of its land sale contracts both this year and next, up from about 12 per cent in 2018, Bloomberg reported. “People are moving some production,” head of the firm’s industrial-development unit said. “It will be a significant impact for Vietnam. A drop of water for China can be a flood for us, because of the different size of the economies,” he added. Not only Vietnam, Thailand has rolled out incentives including tax breaks to woo manufacturers seeking to skirt the tariffs the US and China have imposed on each other. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 27 September 2019

NeCreating a transparent and open real estate business-investment environment

Kinh Te Do Thi Considering the rapid population growth of the city, Le Hoang Chau Chairman of Ho Chi Minh City Real Estate Association (HoREA) has proposed 9 models to solve the increasing housing demand. Along with that is the overall solution for sustainable urban development. HoREA’s report stated that Ho Chi Minh City accomodates nearly 9 million people as of April 2019, an increase of 1.8 million people compare to 10 years ago.

Creating a transparent and open real estate business-investment environment

Concerns about offshore real estate investment

Bao Hom Nay According to The Ministry of Planning and Investment (MPI), offshore real estate investment is not encouraged due to the possibility of money laundering. Currently, there are 262 projects with a total registered capital of about USD 390.9 million with the purpose of moving cash to overseas or for long-term residency abroad.

Concerns about offshore real estate investment

HaiDuong – spotlight of northern key economic region Vietnam Plus

With remarkable socio-economic achievements, Hai Duong province has become an economic spotlight in the Red River Delta and Northern key economic region. In the first half of this year, the provincial economy grew about 7.2 percent. The industry and construction sector expanded 10.1 percent, contributing 5.8 percentage to the local’s gross regional domestic product (GRDP). Fourth Industrial Revolution nudges green building materials along Vietnam Investment Review

Industry 4.0 is pushing the building materials industry to increase capacity, decrease the consumption of raw materials and energy, and reduce CO2 emissions, while encouraging the development of environmentally friendly materials. The transformed conditions and the rising demand for green building materials incited the Vietnam Association for Building Materials to organise the international conference on “Vietnam’s building material industry in the Fourth Industrial Revolution” in Hanoi on September 20 to discuss industry changes to adapt to Industry 4.0. Interest rates to be stable till year end

Bizhub Interest rates in the domestic market are expected to remain stable until the end of the year, buoyed by good liquidity and proper credit growth, said Pham Thanh Ha, director of the State Bank of Viet Nam (SBV)’s Monetary Policy Department. According to Ha, the pressure on domestic interest rates has eased as central banks in many countries are no longer pursuing tight monetary policies. An SBV decision to cut several key interest rates by 0.25 percentage from the middle of this month would help credit institutions to access more affordable capital from the SBV, in turn enabling the institutions to improve liquidity and keep interest For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights

Vietnam - 30 September 2019

Anonymous foreign investor buys entire batch of Phu My Hung bonds

Vietnam Invesment Review Phu My Hung Development Corporation has mobilised VND800 billion ($34.78 million) for real estate projects from an anonymous foreign investor through bond sales. Phu My Hung Development Corporation has just announced the results of a private bond issuance, under which on September 4, 2019, the corporation issued 800 bonds valued at VND1 Phu My Hung is one of the first and largest urban areas of Vietnam billion ($43,478) and valid till June 15, 2026.

Ha Long Real Estate benefits from an undersea tunnel across Cua Luc Bay

Vietnam Net Ha Long real estate market is expected to get benefits from the 2.75km undersea tunnel across Cua Luc Bay. The undersea tunnel will cost VND9.78 trillion to build. This will not only help the city traffic flow but also Ha Long Real Estate benefits from boost the city’s property market. So far, a series of giants have invested an undersea tunnel across Cua Luc Bay in the city such as Sun Group, Vingroup, HD Mon Holdings, Doji, FLC, etc.

Shophouse is a “priceless” property in densely populated cities

Cafe Land By combining business and accommodation, and increasing sustainable value over time, shophouse real estate quickly became an attractive real estate investment choice. Even though it has been around for quite sometime, shophouse always has a strong attraction in the real estate market. This is also a trend consistent with the general situation of many countries in the region and around the world. Shophouse is often developed in parallel with economic growth, therefore the price and rent are increasing day by day.

Vietnam’s bank offers certificates of deposit at fourfold interest rates of the US banks

Vietnam Insider According to a report by Vietnam News Agency, the certificates of deposit offered by Sacombank have a minimum face value of VND1 million (US$43) and a tenor of seven years (84 months), and carry an interest rate of 8.6 percent. Buyers get incentives like preferential interest rates when borrowing using the certificates of deposit as collateral. Besides, they are transferable and can be en-cashed prematurely. In the US, the best certificates of deposit Rates for September 2019 is about 2.30 per cent, so as a foreign investor, if you transfer US$100,000 of your capital to Vietnam, convert to Vietnamese Dong and purchase the certificates of deposit at local bank, your earning will be much better than saving at any bank in the US.

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VSIP II-A DEVELOPMENT LAND VSIP II-A IP, Binh Duong Province

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1 hr 28 mins driving

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COLLIERS INTERNATIONAL HO CHI MINH OFFICE Deutsches Haus HCMC, 3rd Floor HCMC, Vietnam Tel +84 (28) 3827 5665 Fax +84 (28) 3827 5667