vietnam-news-highlights---june-2021

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VIETNAM NEWS HIGHLIGHTS - JUNE 2021.

Vietnam has progressively put in place a range of social distancing and movement restrictions since the fourth wave of COVID-19 struck, which will have long-term and inequitable impacts on its economy. However, in comparison with other countries in the region, Vietnam has been the least hit and is expected to be the fastest economy to recover.

1. Vietnam business operations and the coronavirus: Updates

Vietnam Briefing

This article will be updated as further developments in Vietnam become available.

2. FDI inflows remains spotlight of Vietnam's economy

Hanoi Times

The government has set up an FDI task force to support multinationals and foreign businesses grasping investment opportunities in Vietnam.

3. Apple partner to invest additional US$101 million in Vietnam

Hanoi Times

A number of Taiwanese investors are interested in investing in Vietnam.

4. VN-Index continuously sets new peaks, reaching 1400 points today.

Vietnam Insider

The stock market in the first session of the week on June 28 rebounded strongly, the VN-Index officially surpassed the "dream" mark of 1,400 points to the surprise of many investors.

5. Vietnam prepares to pilot vaccine passports

The Saigon Times

HCMC - The Ministry of Culture, Sports and Tourism is compiling a plan to receive international tourists holding vaccine passports to Phu Quoc Island, Kien Giang Province.

6. Vietnam offers best opportunities for European companies

Vietnam Investment Review

About 60 per cent of European companies working in ASEAN say Vietnam offers the best expansion opportunities in the region, according to a survey conducted by Standard Chartered Bank.

7. HCMC green-lights $29.8 bln public spending

VNExpress

The HCMC People’s Council has approved an outlay of VND687 trillion ($29.8 billion) for spending on transportation, flood prevention, the environment, and hospitals in 2021-25.

An Phu Intersection in Thu Duc City, HCMC, April 2021. Photo by VnExpress/Quynh Tran.8. Vietnam and Canada Trade: Leveraging the CPTPP

Vietnam Briefing

Vietnam-Canada trade relations reached almost US$9 billion in 2020, an all-time high, thanks in part to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) signed in 2018.

9. Vietnam’s Binh Dinh Industrial Zone: Opportunities for Foreign Investors

ASEAN Briefing

The local government in Vietnam’s Bin Dinh province approved the construction of an industrial zone in 2020. The industrial zone will be known as the Becamex Binh Dinh Industrial Zone Project.

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VIETNAM OFFICE MARKET OVERVIEW 2023

Highlights of the office market in 2023

HCMC office market set to become tenant-favorable in 2023

Ho Chi Minh City’s office market is likely to witness a transition from a landlord-favorable to a tenant-favorable sector in the new year, according to data released Friday by Knight Frank Vietnam. Capping off a year that proved solid for landlords, this fourth quarter saw moderate year-on-year rent increases for Grade A landlords to the tune of 2.6%, and a positive net absorption mostly coming from the Saigon South sub-market in HCMC, Vietnam’s largest economic hub, according to the real estate firm.

Việt Nam hopes to attract more capital from South Korea

In the next one to two years, the two countries can fully realise the "Dual Goals", which aims at the the milestone of US$100 billion in bilateral trade turnover and total accumulated investment.

HCM City’s office space market rebounds strongly

Office space for lease in Ho Chi Minh City in the first half of 2022 continued to make a recovery with a total net absorption area of about 21,000 sq.m, equivalent to 38% of 2021, although the new supply remained limited, according to real estate firm CBRE.

VIETNAM REAL ESTATE INVESTMENT MARKET OVERVIEW AND OUTLOOK 2022

The Covid-19 outbreak caused great disruptions to the Vietnam real estate market in the year 2020 to 2021. However, production and business activities have since gradually regained growth momentum, and the Government's policy to push socio-economic recovery and development has shown positive effects since the beginning of this year. In the first 9 months of 2022, Vietnam attracted about US$15.4 billion in foreign investment, up 16.2% over the same period last year. Real estate investment continues to rank second among sectors attracting the most foreign direct investment with over US$3.5 billion received, accounting for 18,7% of the total amount of investment. GDP in the first nine months of 2022 increased by 8.83% over the same period last year, the highest growth in the past decade. This shows that Vietnam is still among the markets with great potential for investment in the Asia Pacific region.

Vietnam to Increase Regional Minimum Wage from July 2022

Vietnam will increase regional minimum wages by approximately 6 percent from July 1, 2022. The increase varies from US$140 to US$202 depending on the living expenses in a particular region. Businesses should prepare their budgets given the short notice and incorporate the increased HR costs from July 1 and beyond going forward.

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