Services & Trade
This category includes the service sector, retail, logistics, finance, e-commerce, and tourism, alongside trade policy and investment trends. It covers import/export dynamics, banking regulations, stock market movements, and infrastructure development. With increasing integration into regional and global trade, this section provides insights into consumer behavior, foreign investment, and evolving service industries.
Real estate sector still struggling with more closures and layoffs
Layoffs and closures in the real state sector are ongoing, The Investor is reporting. Specifically, Housing Development and Trading Joint Stock Company (HDTC) earlier this month announced it would furlough its workforce without pay until business picks up again. The Investors goes on to list several large real estate firms
Retail association calls for extended delay on tighter bond market regulations
The HCMC Real Estate Association (HoREA) has called for an extension of Decree 08/2023 which has delayed to the implementation of tighten bond market regulations outlined in Decree 65/2020, The Saigon Times is reporting. Decree 65 when fully implemented would see bonds given credit ratings and bond market interactions limited
Vietnam real estate firm wants to settle outstanding bond debts with property
Real estate firm Novaland has proposed using unsold properties in its Grand Manhattan development in Ho Chi Minh City to cover outstanding bond debts, Vietnam News is reporting. It’s not clear that this resolution has been accepted or that it will be by creditors. The bond debt is outstanding from
Singapore real estate firm to develop 5.6 hectares in Hanoi’s west
Singapore real estate developer, CapitalLand, intends to drop US$738.6 million on developing nine towers comprising 4,000 units, in Hanoi’s west, The Investor is reporting. Why it matters: Vietnam’s real estate sector is on struggle street mostly because of a number of fraud cases that emerged in corporate bonds issued by
Vietnam back on US currency manipulation monitoring list
That said, the US Treasury did say that none of its trade partners appeared to be manipulating their currencies, according to Reuters. Countries make the currency manipulation watch the meet two of the following three criteria: They have a trade surplus of US$15 billion or more. They have a current
🇻🇳 Novaland reports Q3 profit amid default on international bond interest payment
Novaland is ‘back in the black’ with an after-tax profit of VND136.7 billion (US$5.7 million) in Q3, VN Express is reporting. This was a big change compared to the first half of the year in which it recorded a loss of VND 1,094 trillion (US$44.5 million). There is, however, no
Vietnam industrial land rent to become 10 percent more expensive
Whereas this is ‘good news’ for industrial real estate developers, according to Vietnamnet, it will mean increased costs for leasees. Vietnamnet cites data from CBRE which shows occupancy rates at 80.2 percent, with an average lease price in the primary market of US$131 per square meter. It’s not clear what
Embattled real estate firm FLC to pay US$3.3 million in overdue taxes
The Hanoi Tax Department has found that property developer FLC has US$3.3 million owed in back taxes, VN Express is reporting. The publication also notes that FLC hasn’t released its financial reports since the fourth quarter of 2022. FLC’s chairman was arrested for stock manipulation back in March 2022 and
Foreign direct investment in real estate down 45 percent year-on-year
FDI in the real estate sector reached US$1.94 billion in the first nine months of 2023, down 45 percent year-on-year, Vietnam Plus is reporting. Why it matters: The real estate sector has hit hard this year on the back of bond frauds and several high-profile arrests in the sector. This
Ministry of Construction report shows real estate supply-demand mismatch
A report issued by the Ministry of Construction has found that new residential real estate developments are stagnant but demand for housing is high and that’s pushing up prices, The Investor is reporting. The article says the completion rate of new buildings is well down due to legal hurdles and
Calls to allow greater devaluation of the Vietnamese dong
Dr Huan Huu Nguyen, from the Ho Chi Minh City University of Economics, has told Donah Nhan Vietnam that the VND should be allowed to fluctuate within a greater range and that Vietnam should accept a short-term devaluation. Currently, the dong operates in a trading band of 5 percent either
State Bank of Vietnam issues more treasury bills, total hits US$2 billion
The State Bank of Vietnam completed its fourth bond issue in the past two weeks to the tune of another VND 20 trillion (US$829 million), Donah Nhan Vietnam is reporting. This brings the total value of bonds issued since the start of last week to VND 50 trillion (US$2 billion).
Vietnam state media confirms T-bills issued to support local currency
If there was any doubt as to why the State Bank of Vietnam has been issuing treasury bills, this article in state media outlet Vietnam News should clear it up. “The SBV has also been making its own moves to address the rising exchange rate including the recent issuance of
Mixed views on whether State Bank of Vietnam will cut interest rates again this year
Doanh Nhan Vietnam has compiled a range of views on whether or not the State Bank of Vietnam (SBV) will or even can reduce interest rates before the end of the year. Speculation is varied with UOB and MB Securities predicting further cuts and Rong Viet Securities, Maybank Securities, and
Vietnam’s real estate woes could continue into 2024
Economist Le Xuan Nghia, has predicted that the real estate market turmoil in Vietnam may continue into the third quarter of next year, The Investor is reporting. The article goes on to say that prices are rising because of low-supply which is a result of challenges accessing capital for real
More on the US$411 million of treasury bonds issued last week
The Investor is carrying an article with interviews with several economists regarding the US$411 million treasury bond issuance last week. Can Van Luc, chief economist at state-controlled bank BIDV, said it was normal to keep interbank interest rates at appropriate levels. Le Xuan Nghia, a member of the National Financial
Interest rates on real estate bonds climb on weak consumer sentiment
The average interest rate on real estate bonds last year was 9.76 percent but this has climbed to 13.16 percent as real estate firms struggle to raise capital, according to Tuoi Tre is reporting. Quang Khanh Tran, the general director of Viet An Hoa Real Estate Investment, told the publication
Vietnam treasury bills raise relieve pressure on VND
The State Bank of Vietnam has announced that it issued treasury bills to the value of VND 10 trillion (US$411 million) yesterday, The Investor is reporting. The online publication says this is ‘related to exchange rate developments in recent days.’ Pressure has been mounting on the dong in recent months
Malaysian real estate firm enters Vietnam market with HCMC land purchase
Malaysia’s Skyworld Development is set to invest US$14.15 million in land in HCMC on which it intends to build an apartment building, the New Straight Times is reporting. Context: The real estate sector has found itself almost frozen after several high-profile arrests related to bond issuances. The economy is also
VPS sees the real estate market recovering in the second half of 2023
The real estate market in Vietnam will only start to properly recover when lending interest rates drop another 2-3 percent, according to VPBank Securities Company (VPS) as reported by Business Forum Magazine. The magazine goes on to quote VPS as saying the challenges facing the real estate market will ease
In today’s Vietnam news: Research prosecution exemption, Fuel retailer losses, Semiconductor degree requirements, Eurocham BCI, Government bond auction Wednesday, Australia tourist visa problems, Coffee
In today’s Vietnam news: Accor-Sun Group agreement, US largest ethanol supplier, Demographic dividend to end 3 years early, Maritime economy development, ACV looking to
In today’s Vietnam news: Vietnam Airlines trading restrictions removed, Insurance payouts VSS, Car sales June, 23+ years prison term recommended counterfeit supplements, Counterfeit shoes
This is an interview with Chris Walker, a Vietnam Sourcing Expert with Vietnam Factory Tours how rising oil prices and the Middle East crisis are
This is an interview with John Gardner, CEO and Founding Partner, at Optimum Hospitality in Ho Chi Minh City. It covers fuel price impacts on:
This is an interview with Dr Nuno F. Ribeiro, Associate Professor, International Tourism & Hospitality Management at Copenhagen Business College, formerly of RMIT Vietnam. It