Monthly Real Estate News | July 2019 by Vietnam Realty

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FOR SALE

INDUSTRIAL LAND

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2ha

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VSIP II-A, BINH DUONG PROVINCE 100% foreign owned 100% vốn đầu tư nước ngoài

Land use term until 2058

CONTACT / LIÊN HỆ Mary Xu

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Thời hạn sử dụng đất đến 2058

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Clean & clear asset Tài sản có pháp lý đầy đủ và rõ ràng

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COLLIERS INTERNATIONAL Level 3rd, Deutsches Haus HCMC 33 Le Duan Blvd, District 1 HCMC, Vietnam www.colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 01 July 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.

Experience living in Malaysia-styled township model Ngoi Sao Being one of four main precincts of Gamuda City, located at Yen So Park, Gamuda Gardens covers 74 hectares and is developed based on modern township models in Malaysia – Valencia and Bandar Botanic. The township provides diverse products, such as Gamuda apartments with three blocks of towers with 26-31 floors, providing Experience living in Malaysia-styled township model 2,000 apartments built with modern technology; semi-detached, detached villas, and shophouses that are designed to be spacious amidst green parks. Sun Group plans a series of large-scale projects in Van Don Bao Moi Sun Group has just reported to People’s Committee of Quang Ninh province about its idea, planning and investment in some big projects in Van Don Economic Zone. Specifically, Sun Group reported about 1/2000-scale planning of a hi-tech complex, free trade and smart urban area of Van Don and 1/2000-scale planning of welcome gate Sun Group plans a series of largescale projects in Van Don peninsula Van Don. Over 1,000 social houses to be built in northern Hanoi Vietnam Plus As many as 1,030 apartments will be available in 2021 for low-income people at the price of 8 million VND (343 USD) per square meters in Thanh Lam-Dai Thinh 2 new urban area in Me Linh district, Hanoi city. The Housing and Urban Development Corporation (HUD) on June 27 began construction on its social housing project with 14 blocks in the urban area. The project has 14 six-story buildings, with apartments having a floor space ranging 52-69 square meters. EU and Vietnam set to sign historic trade and investment agreements Vietnam Insider The European Council on Wednesday approved two agreements that are expected to expand trade and investment with Vietnam to unprecedented levels. The free trade agreement (FTA) will eliminate 99% of existing customs duties on goods between the EU and Vietnam, and the investment protection agreement (IPA) aims to increase European investment in Vietnam by ensuring efficiency and transparency. Vietcombank first Vietnamese bank to open US rep office VNExpress Vietcombank, one of Vietnam’s leading banks, has received permission for its US rep office to start functioning in the third quarter. The final permit for the office in New York City has come from the New York State Department of Financial Services (NYDFS), the bank said. It had previously obtained approval from the U.S. Federal Reserve. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 02 July 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.

M&A hallmarket: 5 years of partnership between Nam Long and Japanese partners Tap Chi Tai Chinh After 5 years of partnership with Japan-based investors in six projects, housing products of Nam Long Group (HoSE: NLG) has shown outstanding growth in both scale and quality. Some noticeable M&A hallmarket: 5 years of partNLG’s projects with Japanese partners are Flora Anh Dao, Fuji nership between Nam Long and Residence, Kikyo Residence, Mizuki Park, Akari City, and Waterpoint Japanese partners Long An. At these projects, NLG has two main product series: Flora with secluded apartments, and Valora with townhouses, villas. Vietnam moves up in global reputation ranking VnExpress The 2019 FutureBrand Country Index report released on Tuesday places Vietnam at 61st out of 75 economies with the best reputation abroad. It has moved up three places from its previous ranking in Vietnam rises in a new reputathree places from 2014. The report, by London-based brand consultancy FutureBrand, tion ranking, up2014. uses the World Bank’s top 75 countries by GDP as its basis. Vietnam sees another South Korean investment wave Vietnam Insider In the midst of the US-China trade war and the unexpected minus growth rate of the economy in Q1 2019, South Korean chaebols are looking for growth by penetrating emerging markets. South Korean investors were the earliest birds in Vietnam. Soon after the economy opening in the 1990s, a series of footwear, garment and electronics assembling factories opened in Vietnam, namely Chang Shin, Taekwang Vina, Hyosung, Dongwon and LG. EU welcomes signing of free trade deals with Vietnam Nhan Dan EU Commissioner for Trade Cecilia Malmström has said that she was pleased to see that the member states have given a green light to the trade and investment agreements with Vietnam. Speaking highly of Vietnam, a vibrant and promising market of more than 95 million consumers and both sides have much to gain from stronger trade relations, she stressed that beyond the clear economic benefits, this deal also aims to strengthen respect for human rights as well as protecting the environment and workers’ rights. German firms intend to expand investment in Vietnam The Voice Of Vietnam Fifty-five percent of German businesses, when asked, have said they want to increase investment capital in Vietnam, higher than the rate for Southeast Asia (44 percent), according to a survey conducted by the German Industry and Commerce Vietnam (GIC) in April. The survey namely “AHK World Business Outlook 2019” involved German investors and businesses in Vietnam operating in various fields such as industry, construction, services, and trade.

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Daily Real Estate News Highlights Vietnam - 03 July 2019

Hoa Hoi solar power plant inaugurated in Phu Yen Nhan Dan Phu Yen TTP JSC held an inauguration ceremony for Hoa Hoi solar power plant in Hoa Hoi commune, Phu Hoa district, Phu Yen province on June 25. The construction of the project was commenced in November 2018 by Truong Thanh Vietnam Group JSC and Thailand’s Hoa Hoi plant is the largest B.Grimm Power Public Company Limited. The 257MWP plant covers 265ha and has a total investment of VND4,985 billion (US$214.35 renewable energy plant in Phu Yen and in central region of million). Vietnam. Foreign investors flag risks in PPP projects VnExpress PPP projects in Vietnam carry many hidden risks and the government should protect investors, foreign business executives said at a forum Wednesday. Public-private partnership is a good investment model for Vietnam to limit borrowing in the context of its high public debts, but poses potential risks to private investors, Nobufumi Miura, The Hoa Binh - Moc Chau exchairman of the Japanese Chamber of Commerce & Industry in pressway is invested in the form of PPP Vietnam (JCCI) said at the Vietnam Business Forum (VBF). Saigon Co.op takes over Auchan’s business in Vietnam Vietnam Insider Vietnamese retailer Saigon Co.op and Auchan Vietnam made a late-night announcement on Thursday, declaring an agreement on the hand-over and take-over of the latter’s business in the Southeast Asian country. Roughly 40 days after its May 15 announcement of plans to exit Vietnam, France’s Auchan has found a partner who will take over its 18 brick-and-mortar stores and online activities – Saigon Co.op, the country’s biggest supermarket chain operator. ILO, Bayer congratulate Việt Nam, EU on signing free trade deal Vietnam News The International Labour Organisation (ILO) has welcomed the signing of the EU-Viet Nam free trade agreement (EVFTA) on 30 June in Hanoi, which promotes the respect for fundamental labor rights as a basic condition for fair international trade. “I congratulate Viet Nam and the EU on this milestone. It is an excellent example of how free trade agreements and sustainable development can be balanced through mutual commitment to respecting and implementing principles under the ILO’s 1998 Declaration on Fundamental Principles and Rights at Work for ensuring decent work for all,” said ILO Viet Nam Director, Chang-Hee Lee. Hong Kong remains biggest foreign investor in Vietnam in first half Vietnam Plus Hong Kong (China) topped the list of 95 countries and territories investing in Vietnam in the January-June period, with a total investment of 5.3 billion USD, making up 28.7 percent of the new foreign direct investment (FDI) inflow into the country. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 04 July 2019

Hong Kong firm invests $11 million in south Saigon apartments VnExpress Hong Kong’s VNK Investment Consultants has purchased 50 apartments in two real estate projects developed by Bao Gia Group in South Saigon. The VND250 billion ($11 million) deal was formalized The Cosmo City and Docklands Saigon last week in the presence of representatives of Bao Gia Group and projects offer ownership certificates right at the time of purchase. VNK Investment Consultants, the exclusive distributor of Cosmo City and Docklands Saigon apartments for foreigners in Vietnam. HCMC: procedure is the biggest barrier to property firms Reatimes At an annual conference between HCMC People’s Committee leaders and property firms, the latter complained about many barriers that caused them difficulty in product development and sales. Nguyen HCMC: procedure is the biggest barXuan Quang, Chairman of Nam Long Group said, “The largest rier to property firms barrier to property firms at the present is overlapping, contradicting, infeasible and impractical policies. Dong Nai wants HCM City – Long Thanh – Dau Giay Expressway widened Vietnam News The southern province of Dong Nai has petitioned the Ministry of Transport to widen the HCM City-Long Thanh – Dau Giay Expressway to 12 lanes. It currently has eight lanes in the An Phu – Long Thành section and six in the Long Thành – Dau Giay section. According to the Viet Nam Expressway Services Engineering Joint Stock Company (VEC E), the volume of traffic in the expressway is increasing day by day. In 2015 it was used by nearly 10 million vehicles, but in just three years, in 2018, the number increased by 50 percent to 15 million. Vietnam welcomes high-quality projects from Japan: PM The Voice Of Vietnam Vietnam encourages high-quality projects invested by Japanese corporations, Prime Minister Nguyen Xuan Phuc said, pledging to organize regular dialogues to tackle difficulties for Japanese investors. He had a round-table talk with Japan’s leading corporations in the fields of finance, energy, construction, manufacturing, logistics and high technology in Tokyo on July 1. Trade, investment protection deals between EU and VN signed, starting ‘new chapter’ Vietnam News History was made yesterday as Vist Nam and the European Union signed agreements on free trade and investment protection at a ceremony in Ha Noi. The EU-Vietnam Free Trade Agreement (EVFTA) will ensure the balance of benefits for both Viet Nam and the EU. Once in effect, after the European Parliament approves it, the EVFTA will boost Vietnamese exports, especially agriculture and aquaculture and other products in which ViTh Nam has comparative advantages. The deal is set to cut tariffs on 99 percent of goods traded between the two sides. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 05 July 2019

CapitaLand and Ascendas-Singbridge complete transaction to form one of Asia’s largest diversified real estate groups Capitaland CapitaLand Limited has completed its transaction with Temasek and acquired all the issued shares of each of Ascendas Pte Ltd and Singbridge Pte. Ltd.[1], creating one of Asia’s largest diversified real estate groups with over S$123 billion of assets under management. Capital Tower, Singapore The transaction had earlier received overwhelming approval by CapitaLand’s independent shareholders at an Extraordinary General Meeting held on 12 April 2019. Why do investors massively pour money into Him Lam Green Park? VTC News Him Lam Green Park is a new emerging project meeting all Why do investors massivedemand for both living and investing. The project has in total 666 ly pour money into Him Lam townhouses, 22 villas, 1,926 apartments. Besides, Him Lam Green Green Park? Park is developed as a closed residential area with full amenities such as schools, healthcare centers, shopping malls, playground for kids, golf, sports centers, etc. Thailands Centara eyes 20 new hotels in Viet Nam by 2024 Bizhub Thai hotel operator Centara Hotels & Resorts has unveiled plans to significantly expand its portfolio in Viet Nam by opening at least 20 hotels in the next five years. Its targeted locations include economic hubs such as HCM City, Ha Noi and Hai Phong, and other high-growth areas like Da Nang, Phu Quoc, Nha Trang, Cam Ranh, and Hoi An. CPTPP gives Vietnamese firms a chance to invest in Canada Vietnam News Vietnamese enterprises are being encouraged to tap into business opportunities in Canada as the nation actively calls for foreign investment in the wake of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) officially coming into effect. In the workshop “Business opportunity with Canada through CPTPP” on Friday in HCM City, chairman of Canada Trade Link Bryon Wilfert said Canada wanted to take advantage of CPTPP to promote co-operation through lowering the tax base. FLC starts to construct resort complex in an area of 1,026 hectares in Quang Ngai CafeF FLC Group began investment in Quang Ngai province with the construction of FLC Quang Ngai tourism-resort complex. The project covers an area of 1,026ha in four areas with high-end hotels and resorts and two areas with coastal urban zones. The total investment is about VND11 trillion (US$43 million). Quang Ngai is now an attractive destination for visitors overseas. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 08 July 2019

Sales of Fusion Resort & Villas Danang launched Bizhub Fusion, an innovator of wellness-inspired hotels and resorts in Southeast Asia, on Friday launched Fusion Resort & Villas Danang. Located on the coast of Non Nuoc on a total land area of 15.75ha, at the gateway to the UNESCO world natural heritage Hue Capital, Hoi An Ancient Town and My Son Sanctuary, the Fusion Resort & Villas Danang is a special project developed by Lodgis Hospitality Holdings, a hotel investment platform firmed through a joint venture between Warburg Pincus and VinaCapital. Industrial park occupancy rate reaches 74% Vietnam News The occupancy rate at operational industrial parks (IPs) nationwide has hit 74 percent, according to the Economic Zone Management Department under the Ministry of Planning and Investment. By the end of June, there were 326 IPs nationwide with a total area of 95,500ha. Of which, the industrial land area was 65,600ha, accounting for 68.7 percent of the total.

Sales of Fusion Resort & Villas Danang launched

A view of Thuan Dao Industrial Park in southern province of Long An

SoftBank-backed OYO to invest $50m in expanding Vietnam footprint Deal Street Asia SoftBank-backed OYO Hotels & Homes, the world’s sixth largest chain of leased and franchised hotels, homes and living spaces, plans to invest $50 million in Vietnam as part of an ongoing Southeast Asia expansion spree. The firm on Tuesday said it now operates 90 hotels in the country with 1500 rooms under its ambit. These hotels are located in six cities, namely Hanoi, Ho Chi Minh City, Da Nang, Phu Quoc, Vang Tau and Nha Trang. OYO plans to expand its presence in Vietnam to 10 cities and 20,000 rooms by 2020. Scarcity of realty supply in HCMC Phap Luat Vietnam HCMC real estate market is facing a decrease in housing supply, especially affordable housing and social housing in the first 6 months of 2019. There have been only 3 new projects proposed to the city and 24 projects meeting all conditions to be eligible for sale in this period with a little over 7,000 apartment units, 29% decreased over the same period last year. The high-end segment decreased 44% over the same period (2,227 units compared to 3,965 units in 2018). Airport-rail link project; Map Ta Phut port project to be signed next month The Voice Of Vietnam The Eastern Economic Corridor Policy Committee has acknowledged progress in the high-speed rail project to link three airports and the Map Ta Phut industrial port development project. Contracts for both projects are expected to be signed between state firms and private concessionaires next month. The Eastern Economic Corridor Policy Committee, chaired by Prime Minister Gen. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 09 July 2019

Kien Giang to host investment promotion conference Tap Chi Tai Chinh The Mekong Delta province of Kien Giang will hold a conference on July 26 and 27 in a bid to attract more investment. The conference is expected to attract 500 domestic and foreign enterprises and representatives from international organisations and agencies, baodautu. Phu Quoc Island in Kien Giang vn cited Quang Xuan Lua, Deputy Director of the provincial Centre province. Tourism is one of the for Trade, Investment and Tourism Promotion, as saying. province’s prioritised sectors for VCan Tho kicks off construction on key projects calling investment by 2020. Vietnam News Can Tho Many infrastructure projects in Mekong Delta Can Tho City have kicked off or have been completed and put into use, according to the city’s ODA project management unit. The projects are a part of a city development plan and a Mekong Delta development project. This month the city will start construction on the Can Tho River Some projects under the Can Tho embankment project, which is part of the city’s development plan. City development plan have been completed.

Why does Sun World Ba Na Hills become ‘Vietnam’s leading tourist site’ VnEconomy Sun World Ba Na Hills has achieved the title “Vietnam leading tourism destination” for 4 consecutive times since it’s was constructed in 2007. The investor Sun Group has created a landmark for tourism of Da Nang and the central region and Vietnam in general. The number of tourists coming to Da Nang is more and more increasing thanks to the development of Ba Na Hills. It’s attractive for tourists because its amusement, cuisine and resort complex meets the demand of all customers, even the most fastidious ones. BRG, VNPT, Sumitomo, and SeABank partner up in fintech and smart city Vietnam Investment Review The co-operation agreement on development of fintech and the application of high technology in smart cities between Vietnamese conglomerates BRG group, VNPT group, SeABank, and Japan’s conglomerate Sumitomo group was awarded under the witness of Prime Minister Nguyen Xuan Phuc and representatives of the governments of the two countries. EU businesses and EVFTA opportunities The Voice Of Vietnam The signing of the EU-Vietnam Free Trade Agreement has opened opportunities for EU businesses to increase direct investment in Vietnam’s public sector and simplify import-export procedures. Sodex Sport is a French company located in Nha Trang city since 1991. Sodex’s CEO Alan Bouvot accepted the signing and ratification of the EU-Vietnam Free Trade Agreement and the EU-Vietnam Investment Protection Agreement as a matter of course since Vietnam-EU trade relations have thrived in recent years. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 10 July 2019

Attraction of phase 1 The Terra - An Hung Bao Hom Nay Real Estate market of the West of Ha Noi is seeing biggest attraction ever when phase 1 (Apartment V3) of The Terra - An Hung was officially launched at JW Marriott Hotel Ha Noi with participation of over 1,000 visitors and customers. Investor An Phu has offered attractive incentives for the customers such as 0% loan, paying 15% The Terra - An Hung will supply 1,328 high-class flats and of total value of the apartment as down payment and lucky gifts. 166 shophouses to Ha Noi real Smart planning boosts south Hanoi real estate market estate market Vietnam Investment Review Real estate experts believe this will be a golden year for the real estate market in southern Hanoi, with unprecedented price jumps on the horizon. The expansion of Hanoi capital’s administrative zoning in the past years has been carried out in concert with transport infrastructure development, as can be seen in an average annual growth rate of 0.28 per cent in urban land area. Accordingly, urban The flagship township Gamuda Gardens enjoys seamless land area in the city’s total land area has expanded from about 7 per infrastructure cent in 2010 to 8.96 per cent by 2017. Real estate market on steady foundations VnEconomic Times VET sought the opinions of local and foreign industry players on Vietnam’s property market. All real estate sectors are expected to be lucrative for investors, while industrial real estate will likely receive the most attention thanks to the relocation of factories from China and Vietnam’s recent signing of multinational trade agreements. With property prices still much lower than in neighboring countries. Will Vietnam be a new production base for the world? Phap Luat Vietnam Vietnam has the opportunity to become a new production base for the world amid the US-China trade war. Deep C Dinh Vu industrial park often receives groups of businesspeople who come to learn about industrial zones. Bruno Jaspaert, CEO of Deep C Vietnam, said the demand for leased land in IZs (industrial zones) in general and Deep C in particular has doubled compared to the same period last year. Viet Nam launches government bond futures contract Bizhub On July 04th, The Ha Noi Stock Exchange officially launched the government bond futures contract, the second derivatives market product in Viet Nam since the index futures in August 2017. The introduction of the five-year bond futures contract is expected to satisfy the investment needs and risk prevention of investors, through better attracting foreign investment and contributing to the process of upgrading the status for the local securities market. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 11 July 2019

VN to boost professional real estate brokers Vietnam News Real estate brokerage plays an important role in the circulation of real estate products. The sustainable development of the property market depends on a variety of factors such as legal policy, management of authorities, operations of the businesses, as well as VN to boost professional real estate professionalism of brokerage teams. Therefore, real estate brokers brokers need to have enough knowledge and skills to collect information about real estate associated with legal items and planning, as well as real estate values for buyers and sellers. After-sale care must be shown to home buyers: experts Bizhub Investors in apartment building projects need to maintain the service quality promised to buyers, experts have said. If the pledges are not In the last three years, the growth of met, prolonged disputes often arise, General Director of Dai Phuc real estate brokerage in the market 15 per cent per Land Company told Dau Tu (Investment) newspaper. For two years, has averaged about year. the developer is responsible for building maintenance, but after that period, residents can elect a board to manage affairs. TraVinh works to attract more investors The Vioce Of Vietnam The Mekong Delta province of Tra Vinh is revising policies and mechanisms towards removing obstacles facing businesses, thus attracting more investors. According to Vice Chairman of the provincial People’s Committee Tran Anh Dung, departments, sectors and localities across the province have applied measures to improve the provincial competitiveness index (PCI), while speeding up administrative reform. At the same time, the province has asked for support from the Vietnam Chamber of Commerce and Industry (VCCI) to analyze its weaknesses in the PCI over the years, thus making plans to improve performance in all ten components in the index. The province ranked 46th among 63 provinces and centrally-run cities in the PCI rankings in 2018. Deutsche Bank to Close Most Equity Businesses in Asia Vietnam Insider The Frankfurt-based lender expects to stop offering trading of cash equities, equities research and may no longer underwrite initial public offerings in the region, the person said, asking not to be identified as the matter is private. Bloomberg reports. As many as half the Asia equities staff will leave initially and the remainder later this year, the person said, adding that the final decision depends on the bank’s supervisory board meeting on Sunday. The lender may keep its margin lending business, the person said. According to Bloomberg, Deutsche Bank’s supervisory board is convening to adopt a far-reaching plan presented by Chief Executive Officer Christian Sewing that’s built around dramatically shrinking and perhaps even shuttering equities trading outside Europe, people familiar with the matter have said. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 12 July 2019

North-South Expressway: domestic investors fear foreign competition VnExpress Vietnamese investors fear experienced foreign counterparts with deep pockets will outmatch them in bidding for North-South Expressway contracts. Vu Duc Nhan, the deputy CEO of transport firm Phuong Thanh Tranconsin Jsc, told VnExpress that the Ministry A section of the Da Nang - Quang of Transport requires an investor to have an owner’s equity of 20 Ngai Expressway which will be percent of the cost of a North-South Expressway project. connected to the North-South Expressway Hanoi to build new metro section in 2021 The Voice Of Vietnam Hanoi plans to borrow $1.48 billion from official development assistance funds (ODA) to build a metro section in 2021. The new section, connecting the downtown Hanoi Railway Station with southern Hoang Mai District, is estimated to cost $1.75 billion. The remaining $271.3 million will come from the city’s budget, the Hanoi Hanoi to build new metro People’s Committee says in a document. section in 2021 - An artist’s impression of the Hanoi Metro Dong Nai records good growth in H1 Line 3 train Vietnam Plus The southern province of Dong Nai recorded a GDP growth of 8.02 percent in the first six months of this year, according to the provincial People’s Committee. The committee said the local economy continues to enjoy high and stable development in line with orientations outlined by the authorities. Industry and trade continued to be the key driver of growth. The industrial and construction sector posted a growth of 9.09 percent, with the processing and manufacturing industry recording the highest expansion of 9.43 percent. First phase of $256m solar power plant inaugurated in An Giang Bizhub Sao Mai Group put the first phase of its major solar power plant into operation in the Mekong Delta province of An Giang on Saturday. Covering an area of 275ha in An Hao Commune, Tinh Bien District, the Sao Mai Solar PV1 plant costs nearly VND6 trillion (US$257.5 million). It has a total capacity of 210 MWp. In the first phase, the plant covers 120ha with a capacity of 104 MWp. It will generate 250,000 MWh each year, equivalent to the electricity consumed by more than 50,000 households. Armenian PM seeks to boost trade, investment ties with Vietnam Vietnam Investment Review Armenian Prime Minister Nikol Pashinyan had a working session with some major Vietnamese businesses in Hanoi on July 6 to seek ways to facilitate bilateral trade and investment. The event was attended by representatives of the Vietnam Chamber of Commerce and Industry (VCCI) and big enterprises in such industries as textile-garment, jewelry, and information technology. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 15 July 2019

Da Nang attracts $542 million of foreign investment in H1 Vietnam News More than US$542 million of foreign capital was invested in the central city of Da Nang in the first half of this year. Speaking at the 11th session of the 9th municipal People’s Council in Da Nang on Tuesday, Ho Ky Minh, vice chairman of the city’s People’s Committee, attributed the results to investment attraction activities organized as A corner of Da Nang City. The city attracted US$542 million in foreign part of the city’s policy to focus on investment this year. capital in the first half of 2019. Hanoi aims at 8-percent growth for H2 The Voice Of Vietnam Hanoi aims at an economic growth rate of 7.6 – 8 percent for the latter half of 2019 in an effort to realize targets and tasks set for the whole year. This was one of the issues discussed at the 15th session of the municipal People’s Council that opened on July 8. The capital city reported macro-economic stability in the first six months, noting Hanoi posts a GRDP growth rate that the gross regional domestic product (GRDP) rose 7.21 percent, of 7.21 percent in the first half of 2019. compared to the 7.15-percent increase in the same period of 2018. American realtors look to a Vietnamese future Vietnam Investment Review Although US developers are not in the leading position in Vietnam’s property market yet, many have been indirectly investing in the market, especially within the industrial segment. Bich Ngoc reports. Since beginning to work as the US Ambassador to Vietnam in November 2017, Daniel Kritenbrink has been witnessing a rise in US investment in the Southeast Asian nation, including the development of smart cities here and US investors are also connecting with other smart cities across Southeast Asia. Vietnamese conglomerate Vingroup launches airline unit Deal Street Asia After receiving a whopping $1-billion investment from Korean chaebol SK Group, Vietnamese conglomerate Vingroup is venturing into the aviation industry by launching an airline unit. Vinpearl Air is the latest 1.3 trillion dong ($56-million) subsidiary from the house of Vingroup, according to Vietnam’s business registration authority. Vingroup’s subsidiary VinAsia Tourism Development owns 45 per cent stake in Vinpearl Air while the balance stake is held by related persons. Vietnam’s inflation to moderate to 2.7 percent in 2019: HSBC Vietnam Insider After recording its slowest pace in more than three year last month, Vietnam’s inflation is forecast to hit only 2.7 percent in 2019 after standing at 3.5 percent last year. HSBC analysts made the forecast in the ‘Vietnam at a glance’ report released this week.Vietnam’sheadline inflation last month moderated to 2.2 percent year-on-year, from 2.9 percent in May. This marks not only the lowest year-on-year inflation growth since 2019, but the slowest pace in more than three years. For market research reports, please visit our website at www.colliers.com

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Pl e a s es ubs c r i beourme di ac ha nne l sf ormor eRe a lEs t a t eRe por t s

Daily Real Estate News Highlights Vietnam - 16 July 2019

Vietnam real estate market on steady foundations Vietnam Net Here are the opinions of local and foreign industry players on Vietnam’s property market. Given the great number of positive signs regarding economic development, Vietnam’s property market is expected to further expand across sectors in 2019. Domestic Vietnam real estate market on investors still dominate in terms of transaction volumes thanks to steady foundations advantages in access to land sources as well as market insight. Binh Dinh focuses on investment in big projects in H2 Bizhub The central province of Binh Dinh in the second half of this year will give priority to big labor-intensive projects with foreign or domestic investment, according to the provincial People’s Committee. Ho Quoc Dung, chairman of the provincial People’s Committee, said the locality would take comprehensive measures to boost industrial A view of Quy Nhon City in Binh development and speed up the progress of a number of projects Dinh Province. The province is giving priority to big, labour-intensive

Central bank to keep monetary policy on hold through 2019 investment projects. Vietnam News The State Bank of Viet Nam (SBV) will hold its benchmark refinancing and discount rates at 6.25 per cent and 4.25 per cent, respectively, in addition to maintaining its 14 per cent credit growth target for the remainder of 2019, experts forecast. “We expect the SBV to keep its monetary policy on hold for the remainder of 2019. Monetary policy transmission in Viet Nam remains weak and this informs our view for the SBV to continue to manage financial risks through non-interest rate measures such as loan directives and macro-prudential measures,” analysts from Fitch Solutions told Viet Nam News. Vietnam ranked world’s tenth best country for expats: HSBC Tuoi Tre News Vietnam is the tenth best country for expatriate employees to live, work and raise a family, with Switzerland, Singapore, and Canada taking the top three spots, a new survey by HSBC shows. The other countries in the top ten are Spain, New Zealand, Australia, Turkey, Germany, and the United Arab Emirates, according to HSBC’s Expat 2019 Global Report, which was released on Thursday. Real estate firms issue bonds to raise capital The Voice Of Vietnam The central bank increased the risk weighting of real estate loans from 200 percent to 250 percent in 2019, which is a significant disincentive for banks to make loans to the property sector since their minimum capital requirement is a ratio of their risk-weighted assets under the Basel norms. Meanwhile, the SBV’s regulation on reducing the maximum quantum of short-term deposits that can be used for medium- and long-term loans from 45 percent to 40 percent will reduce banks’ liquidity.

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Daily Real Estate News Highlights Vietnam - 17 July 2019

Danang attracts $542 million of foreign investment in H1 Vietnam Insider More than US$542 million of foreign capital was invested in the central city of Danang in the first half of this year. Speaking at the 11th session of the 9th municipal People’s Council in Danang on Tuesday, Ho Ky Minh, vice chairman of the city’s People’s Committee, attributed the results to investment attraction activities organized as Danang attracts $542 million of foreign investment in H1 part of the city’s policy to focus on investment this year. Underground wave in Long An realty market CafeF According to Long An Provincial Department of Construction, since late 2017, Long An real estate market constantly records price increases, which results in waves of land lot fever, especially in districts adjacent to HCMC like Ben Luc, Duc Hoa, Can Duoc and Can Giuoc, The main reason for the market’s heat-up is that many property giants like Vingroup, Van Thinh Phat, Him Lam, Nam Long, Underground wave in Long An realty market TCC Land… are preparing to deploy large-scale projects in Long An, thus attracting investment capital. Industrial infrastructure mostly serves FIEs Vietnam Net Vietnam has borrowed big money to develop industrial infrastructure, but this has mostly brought benefits to foreign-invested IZs (industrial zones) and FIEs (foreign-invested enterprises). Vietnam is considered one of the most dynamic economies in terms of industrial infrastructure establishment. Prof Dang Dinh Dao points out that Vietnam has 325 IZs with the total area of 90,000 hectares. Vietnam, US step up comprehensive partnership The Voice Of Vietnam Nguyen Xuan Thang, Secretary of the Communist Party of Vietnam Central Committee and Chairman of the Central Theory Centre, has had meetings with representatives of US and international organizations and institutions in Washington DC. Thang, who is also President of the Ho Chi Minh National Academy of Politics, met with US Congressman Ted Yoho, former Chairman of the Asia and the Pacific Subcommittee under the Foreign Affairs Committee in the US House of Representatives; Michael Kratsios, Deputy Assistant to the US President for Technology Policy. Minimum regional wage hike for 2020 set at 5.5% The Saigon Times The National Wage Council today, July 11, finalized a 5.5% minimum regional wage hike for 2020, following two meetings to discuss the matter. Specifically, the minimum wage in Region 1 comprising more developed localities rose by VND240,000 to VND4.42 million per month, while that in Region 2 was hiked by VND210,000. The lowest wages in Regions 3 and 4 picked up by VND180,000 and VND150,000, respectively, according to Nguoi Lao Dong newspaper. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 18 July 2019

TCL plans to build two plants in Quang Ninh province Vietnam Plus Multinational Chinese electronics firm TCL has registered to build two factories to produce speakers, headphones and other accessories in the northeastern province of Quang Ninh. TCL is waiting for approval from the province. The two manufacturing plants would A rendering of TCL’s plant in Binh Dube located in the Dong Mai Industrial Park in Quang Yen district. ong province. The firm is waiting for Once in operation in May 2020 if all goes according to plan, they will approval to build two more plants in Quang Ninh Province. create 2,000 jobs for local workers. MoC plans to release quarterly reports on property market Bizhub The Ministry of Construction (MoC) plans to start releasing quarterly reports on the domestic real estate market to increase transparency, Minister of Construction Pham Hong Ha said in a ministry meeting late last week. The quarterly report is a basis for building a database The Ministry of Construction (MoC) will release quarterly report on the on housing and local property market because information about domestic real estate market. those factors is unclear, according to Ha. Vietnam reaps the rewards of the U.S - China trade war Vietnam Insider Huynh would like nothing more but is swift to provide a reality check. She only has enough workers, raw materials and factory space to produce one-fifth the volume of bath towels and apparel churned out by her chief competitors in China. Her prices are competitive, she says, but contrary to popular belief, they aren’t cheaper than those of her Chinese rivals. “Our prices are reasonable and we can deliver good quality, but we can only take small orders,” said Huynh, a manager at Phong Phu, a 54-year-old manufacturer. Vietnam 5-star hotels revenues rise on strong demand VnExpress Five-star hotels last year reported higher revenues as room rates increased thanks to increasing demand from foreign visitors. Their revenue per room available grew by 5.4 percent from 2017 to $83.4, according the newly-released Hotel Survey 2019 by global consulting firm Grant Thornton. Kenneth Atkinson, senior board adviser of Grant Thornton Vietnam, said the average occupancy rate at five-star hotels continued to be high at 75.6 percent, up 0.5 percentage point. Vietnam plans to become leading digital economy in ASEAN by 2030 The Voice Of Vietnam Vietnam will become a leading digital country and economy in the ASEAN region by 2030 and allow testing of new technologies in the digital economy. This is one of the proposals in a draft project on national digital transformation by the Authority of Information Technology Application (AITA) under the Ministry of Information and Communications (MIC). The ministry assigned AITA to develop the project and submit it for approval in November. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 23 July 2019

Sunshine Group is about to debut 4.0 resort nearby Saigon River Dan Tri Investor Sunshine Group is about to launch a 4.0 tech resort Sunshine Diamond River which is developed based on the model of Marina One in Singapore. The project is located in Dist. 7, HCMC Sunshine Group is about to debut with 8 towers arranged in a closed compound model. It’s equipped 4.0 resort nearby Saigon River with a series of standard facilities of 5-star resorts, smart operation, Sunshine Diamond River and 4.0 technology application. FLC mulls third aviation academy VnExpress Property company FLC plans to build an aviation complex in southern Can Tho City to train people and offer logistics services. The 40-hectare facility would have a training academy and offer services such as catering and logistics, the conglomerate told city An artist’s impression of the FLC authorities. The city administration has instructed its agencies to University in the northern Quang Ninh Province study the proposal. Vietnam – strategic destination of Korean businesses The Voice Of Vietnam According to the Korean Ministry of Trade, Industry and Energy, Vietnam is the fourth biggest trade partner of the RoK and an attractive destination in the investment expansion policy to the south of many Korean businesses and groups. Bilateral trade has increased to 68.3 billion USD in 2018 from just 500 million USD since the two nations established diplomatic ties in 1992. Particularly, two years after the signing of the Korea-Vietnam Free Trade Agreement (KVFTA) in 2015, the bilateral trade doubled. Vietnam ranks 52nd out of 162 countries on sustainable development Vietnam Insider Vietnam is ranked 52nd out of 162 countries and territories in terms of sustainable development, according to a new report by German’s Bertelsmann Stiftung and the Sustainable Development Solutions Network of the UN. The index and ranking were designed based on the 17 Sustainable Development Goals (SDGs) that were unanimously adopted in 2015 by the 193 member states of the United Nations. Armenian PM seeks to boost trade, investment ties with Vietnam Bizhub Vietnamese shares advanced on Tuesday morning, driven by banking-financial companies. The benchmark VN-Index on the Ho Chi Minh Stock Exchange gained 0.56 percent to close at 977.98 points. The VN-Index dropped 0.29 percent on Monday. Nearly 90.7 million shares were traded on the southern bourse, worth VND2 trillion (US$87.6 million). Bank and insurance stocks were the driving factors of the stock market on Tuesday morning. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 24 July 2019

Laimian City project developed in line with regulations The Saigon Times Regarding the information that the Laimian City project has been constructed without a construction license, a representative of Housing Development and Trading Joint Stock Company (HDTC), the project developer, said the project construction is legal as the An artist’s impression of the project is exempted from the construction license. FDI Sector Plays Crucial Role In Vietnam’s Economic Laimian City project in District 2, HCMC Growth Vietnam Insider The finding was presented in a macroeconomic report released on Thursday by the Institute for Economic and Policy Studies (VEPR). VEPR predicted growth would accelerate in the third quarter and then reach 7.17 percent the last quarter to hit the Government’s target of 6.6 to 6.8 percent for the full year. According to the report, in the six first months of the year, social investment reached VND822.9 Vietnam’s economy grew at 6.71 cent in the second quarter trillion (USD35.4 billion), up 10.3 percent compared to the same per of 2019, down from 6.79 per period in 2018. cent in the first quarter. VinaCapital acquires Singapore-based robo-advisory platform Smartly Deal Street Asia Ho Chi Minh-based investment firm VinaCapital on Tuesday announced the acquisition of the operations of Singapore-based Robo-advisory investment platform Smartly Pte Ltd. Financial terms of the deal were not disclosed. Founded in 2015, Smartly seeks to provide users with basic financial literacy and an opportunity to invest easily with full transparency and at a low fee. In 2016, Smartly began discussions with VCG Partners, the Singapore subsidiary of VinaCapital, to launch a platform together. This was followed by the launch of Smartly’s Robo-advisory services in 2017. EVFTA set to offer foreign investors dual benefits The Voice Of Vietnam The freshly signed EU-Vietnam Free Trade Agreement is to allow foreign investors to enjoy huge benefits in terms of market entry and policy incentives when investing in the Southeast Asian country, experts have said. The EU-Vietnam Free Trade Agreement (EVFTA), inked by both sides on June 30, is expected to lure fresh investment from the bloc and even non-EU member countries as investors are eyeing imminent production shifts in order to benefit from EVFTA incentives. Japanese investors registered capital of US$57.9 billion into Vietnam Vietnam Insider Investment capital from Japan is considered as the main capital flow, a model for the cooperation relationship between Vietnamese enterprises and foreign direct investment (FDI) ones. Lately, during the visit of Prime Minister Nguyen Xuan Phuc to Japan, there were 32 investment certificates and memorandums of understanding between Vietnamese and Japanese firms. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 25 July 2019

Lotte E&C to create a hallmark in Vietnam’s high-end residential segment Vietnam Investment Review Lotte E&C, a member of South Korean giant Lotte Group, has recently entered a strategic partnership with Ho Chi Minh City-based major developer Novaland for high-end project development. Jun Sung Ho, Lotte E&C to create a hallmark in Vietgeneral director of Lotte E&C Vietnam, shares about the company’s nam’s high-end residential segment development journey in Vietnam and its commitment to creating an iconic high-end residential development as the main contractor at Novaland’s flagship project, the Grand Manhattan. Vietnam’s Ho Chi Minh City hits over 3 billion USD in foreign investment in H1 2019 Vietnam Insider The city granted new investment licenses to 598 projects worth over 539 million USD, up 15.8 percent and 3.6 percent respectively. Vietnam’s Ho Chi Minh City hits over 3 billion USD in foreign investment Following the increasing trend of direct investment, GBS – a in H1 2019 company incorporation services firm in Vietnam started its support program for Foreign Investors, and this program can streamline SKorea’s Hana Bank to buy 15% stake in Vietnam’s BIDV for $873m Deal Street Asia BIDV, Vietnam’s largest lender by assets, has agreed to sell shares worth 20.3 trillion dong ($873 million) to South Korea’s KEB Hana Bank. The Korean investor also announced in a stock exchange filing that the cash transaction is expected to be completed by the end of this year. The shares, amounting to 603.3 million units, will represent a 15 percent stake of the Vietnamese bank after the private placement. Following the transaction, the state capital will be reduced to around 80 percent. Kien Giang Province to organise investment promotion conference Vietnam News Local and foreign investors have been invited to take part in the Kiên Giang Investment Promotion Conference 2019 to be held in the province’s Rach Gia City on July 29. The conference themed “Kiên Giang – Potential, Opportunities for Investment and Sustainable Development” is expected to attract 500 attendees, including officials from ministries and other agencies, leaders of cities and provinces and executives from international business groups and local and foreign firms. Czech Republic aspires to bolster all-round cooperation with Vietnam The Voice Of Vietnam Vietnam’s ambassador to the Czech Republic Ho Minh Tuan and President of the Czech Chamber of Commerce (CCC) Vladimír Dlouhý discussed measures to step up cooperation in economics, trade, and investment between the two countries during their working session in Prague on July 17. The Vietnamese diplomat said the recently signed EU-Vietnam Free Trade Agreement (EVFTA) in Hanoi on June 30 will facilitate trade and investment activities between Vietnam and the EU. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 26 July 2019

FLC announces new real estate brand Bizhub FLC Group on Wednesday announced the establishment of its real estate brand FLCHomes with four main products including Beach & Golf Resort, Residences, Retail & Office and Green Eco. FLC said it established FLCHomes Real Estate Investment and Development Company in March with key leaders who were from the group’s A view of Sam Son Beach and Golf marketing department with an aim to create an ecosystem of Resort developed by FLC Group in property products. the central province of Thanh Hoa. HCMC developers seek greener pastures Vietnam Investment Review Many property developers in HCM City are moving to neighboring provinces and cities and even as far away as the central region as city authorities are issuing fewer licenses and legal procedures elsewhere are simpler. any have begun developing in provinces like The Thu Thiem urban area in Long An, Binh Duong, Dong Nai, Ba Ria-Vung Tau and Binh Phuoc. HCM City.

SME Financing in Vietnam can be transformed with the support from Indovina Bank, Cathay Holdings and Finaxa Vietnam Insider Finaxar VN, Indovina Bank and Cathay Financial Holdings on Thursday, July 18, 2019 announced its partnership to improve access to financing for small and medium enterprises (SMEs) in Vietnam. The partnership will provide working capital to SMEs that are growing fast in the region with easier, more streamlined access to credit online through Indovina Bank’s FCL credit line product powered by FinaxarTM. EU believes in positive impact of trade deal with Vietnam The Voice Of Vietnam Members of the European Union (EU) have expressed their belief in the positive impact that the bloc’s free trade agreement with Vietnam (EVFTA) will have on bilateral trade relations. The deal, signed in Hanoi on June 30, is the first the EU has inked with a developing country in Asia, paving the way for the gradual reduction of up to 99 percent of tariffs between the two sides, as well as for the opening of the service and public procurement markets. Viet Nam treasures partnership with Japan: PM CafeF Viet Nam treasures its partnership with Japan and spares no effort to develop relations, Prime Minister Nguyen Xuan Phuc has said. Hosting a reception for the special advisor to the Japan-Viet Nam Friendship Parliamentary Alliance Tsutomu Takebe in Ha Noi yesterday, PM Phúc expressed his delight to meet the special advisor and congratulated the ruling Liberal Democratic Party (LDP) on its win in the Japan upper house election. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 29 July 2019

Sunshine Diamond River - A smart resort and urban area in Center of Saigon Tai Chinh Cuoc Song Sunshine Group continues to impress the Sai Gon real estate market with Sunshine Diamond River project. The buildings are designed to bring absolute ventilation and light in every living space while ensuring the best view for each apartment. Sunshine Diamond River Sunshine Diamond River - A smart resort and urban area in Center of is equipped with the face-recognizing technology Face ID to ensure Saigon safety and absolute security. Real estate transactions fall on tightened property loan control The Voice Of Vietnam As the State Bank of Vietnam has tightened the control over real estate loans to ensure sustainable development of the market and safety of the banking sector, property transactions have fallen down in both Hanoi and Ho Chi Minh City in the first six months of the A view of the Phu My Hung residential area in District 7, HCM City year, experts said at a recent meeting in Hanoi. Vietnam surpasses Hong Kong in port throughput Vietnam Insider Vietnam’s container throughput surpassed Hong Kong’s in the first half of this year, possibly in part due to trade diversion amid the trade war between China and the US, reported the Chinese news site Caixin Global. According to the data from Hong Kong Maritime and Port Board, in the first half of 2019, Hong Kong saw a container throughput of 9.06 million twenty-foot equivalent units (TEUs), a year-on-year decrease of 8.1 percent. Global exposure for best local property developers Vietnam Investment Review This year marks the fifth of the PropertyGuru Vietnam Property Awards. On August 23, the country’s finest developers will be honored at the exclusive gala dinner of the latest Vietnam Property Awards. With the ceremony on the horizon, Jules Kay, director of the PropertyGuru Asia Property Awards, chats with VIR’s Thanh Van about the past half-decade of the event, and how it has helped promote the growth of the local real estate market. Expressway work runs into financial roadblock VnExpress Work on the long-delayed Trung Luong – My Thuan Expressway might stall again next month since its investor is cash-strapped. A contractor for the expressway in southern Vietnam, which will link up with an existing expressway to connect Ho Chi Minh City with the Mekong Delta province of Tien Giang, stopped work on Tuesday and put up banners demanding to be paid. Many contractors said at a meeting Wednesday they have not been paid for the last three months by the Trung Luong - My Thuan BOT JSC which is building the build-operate-transfer (BOT) project. The firms claimed they do not have money to pay their workers and suppliers. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 30 July 2019

Vietnam among top 3 innovators in Southeast Asia VnExpress Vietnam has climbed up three places to 42nd in the 2019 Global Innovation Index, behind Singapore and Malaysia in Southeast Asia. The country has performed better than some of its Southeast Asian neighbors on the global list, moving ahead of Thailand (43rd), the Vietnam among top 3 innovators in Philippines (54th), Indonesia (85th) and Cambodia (98th). Southeast Asia Novaland shares again on Vietnam Sustainability Index Vietnam Economic Times Property developer sees its shares again named among listed companies developing sustainably. Vietnamese property developer the Novaland Group (Stock code: NVL) recently announced its shares were again named in the Vietnam Sustainability Index (VNSI) released in July. In order to be listed on the VNSI, companies’ shares must be among the VN100; the 100 largest companies listed on the Novaland shares again on Vietnam Ho Chi Minh Stock Exchange (HoSE). Sustainability Index Vietnam - a magnet for M&A deals The Voice Of Vietnam Vietnam has become a favored destination for merger and acquisition (M&A) deals for foreign investors, particularly those from the Republic of Korea (RoK), China’s Hong Kong, Singapore and Japan as the Asian multinationals see the benefits of having a presence in one of the region’s fastest-growing economies. RoK investors have overwhelmed M&A deals in the Southeast Asian country, the Vietnam M&A Forum (MAF)’s M&A report showed. Quang Ninh looks toward knowledge-based economy Vietnam Plus The northeastern province of Quang Ninh is determined to build a digital administration, the next step of e-administration. This is considered an inevitable trend in the context of extensive international integration and the boom of the fourth Industrial Revolution (Industry 4.0) as well as local development. Following the success in building the e-administration and reforming administrative procedures in the 2012 – 2018 period, Quang Ninh province has built a digital administration based on the implementation of a project building smart cities in the 2019 – 2025 period. Foreign investors can take advantage of Vietnam’s trade deals Vietnam Investment Review Foreign investors have been encouraged to take advantage of the double benefits Vietnam is offering through its commitments in the many trade pacts signed with other countries. Foreign investment in Vietnam is expected to increase significantly after the country signed two important trade deals – the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the European Union-Vietnam Free Trade Agreement (EVFTA). For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 31 July 2019

Korean, Japanese firms eye Vietnam’s real estate market Vietnam Insider The real estate sector has announced a number of joint venture projects with the Republic of Korea (RoK) and Japan in the past three years. According to Reatimes – a real estate online magazine in Vietnam, Korean construction and property investors are considering Vietnam the second biggest market to boost investment. The latest data from the Bank of Korea show that Korean investors poured 56.1 million USD into Vietnam last year. HCM City solicits investment in infrastructure Vietnam News HCM City authorities have called on local and foreign investors to invest in the city’s infrastructure. The growing metropolitan area with 13 million inhabitants is facing problems caused by rapid urban development and struggling with climate-related problems, Lê Thanh Phong, head of the Investment and Trade Promotion Centre’s investment promotion division, said.

Korean, Japanese firms eye Vietnam’s real estate market

HCM City solicits investment in infrastructure

JICA, VASS step up cooperation for Vietnam’s sustainable development Vietnam Plus The Vietnam Academy of Social Sciences (VASS) and the Japan International Cooperation Agency (JICA) in Vietnam signed a cooperation deal on July 24 in Hanoi, looking to contribute to promoting sustainable development in Vietnam. Under the deal, JICA and VASS reasserted their long-term cooperation in contributing to the building of a socio-economic development strategy for Vietnam in 2021-2030. The two will work together in building socio-economic development plans for the Mekong delta province of Ben Tre and the northern mountainous province of Ha Giang, and doing research on newly emerging countries in Asia. Industrial land leasing costs rise in southern Vietnam VnExpress Rents in industrial parks in Ho Chi Minh City and neighboring localities increased 15.8 percent against the same period last year. The average land leasing costs in the second quarter of this year at industrial zones in HCMC and the provinces of Binh Duong, Dong Nai, Long An and Ba Ria-Vung Tau climbed to $95 per square meter. Viet Nam’s foreign reserves hit record high $68 billion The Saigon Times Viet Nam’s foreign reserves hit a record high of US$68 billion at the end of June, revealed a report from the HCM City Banking University. According to the report, foreign investment capital inflows have helped the country build up its foreign reserves to double the figure of three years ago. The sufficient foreign reserves have been a key source to help the central bank stabilize the USD/VND exchange rate, the report noted.

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