The Ministry of Construction has proposed two solutions regarding the ownership duration of apartments in the latest draft of the amended Housing Law.

The ministry suggested either adding a new regulation on ownership duration based on the apartment project’s lifespan or to keep the current regulation unchanged, with the latter meaning no limit on ownership duration, the local media reported.

As for the first solution, the ownership duration is determined based on design documents or the approved lifespan of commercial, social and resettlement apartment projects in line with the prevailing regulations on construction.

While appraising the design documents of apartment building projects, the local authorities must write down the ownership duration in the documents.

Apartment sale contracts are regulated to include an ownership duration.

The ownership duration will be applied to apartment projects that are licensed or whose design documents are approved after the regulation comes into force.

There will be no limits on the ownership duration for apartment projects licensed for construction before the law takes effect.

The ministry has repeatedly proposed the ownership duration range from 50 to 70 years.

Under the second solution, buyers of land use right-attached apartments can use the land indefinitely, according to the draft.

Apartment buildings which have yet to reach their expiry dates will be demolished immediately if they deteriorate or are damaged by natural disasters, fires or explosions.

Four provinces promote Mekong Delta tourism

Quang Ninh, Ninh Binh and Binh Dinh provinces are joining hands with the Mekong Delta city of Can Tho to promote tourism in the delta.
The tourism authorities of the four localities yesterday, September 13, jointly held a conference on tourism promotion and development in Can Tho and elsewhere in the delta.

Speaking at the event, Pham Ngoc Thuy, director of the Quang Ninh Tourism Department, said this cooperation in tourism promotion would help fully tap the tourism potential of each locality and develop tourism into a driving force for economic growth.

The Mekong Delta is considered a potential and strategic tourism market for Quang Ninh, Ninh Binh and Binh Dinh. These three provinces are also home to special cultural and natural values, in addition to other factors that make them appropriate to develop heritage, resort, culture-festival and island tourism products.

According to Nguyen Thuc Hien, vice chairman of the Can Tho People’s Committee, the provinces in the delta attracted around 30 million visitors in the first eight months of the year and made more than VND21 trillion in tourism revenue.

In addition, tourism cooperation programs between the delta and other parts of the nation in recent years have created a dramatic change in building the Mekong Delta tourism brand associated with eco-, spiritual- and MICE tourism.

Ha Van Sieu, deputy head of the Vietnam National Administration of Tourism, affirmed that the conference created an opportunity for the localities mentioned above, investors and tourism service providers to share experience in removing obstacles and developing policies to boost tourism growth.

Hanoi facilitates investment from Republic of Korea

Chairman of Hanoi People’s Committee Tran Sy Thanh has pledged to create all possible conditions for foreign firms, including those from the Republic of Korea, to invest in the city.
Thanh made the promise at a reception for Kim Jung-in, CEO of Sein I&D Vietnam, in Hanoi on Tuesday.

He voiced support for Sein I&D Vietnam’s plans to invest in hi-tech supporting industry in Vietnam and expand its investment in Hanoi.

The official listened to the company’s suggestions and assigned relevant agencies to consider and handle them in line with the law.

Kim made several proposals to the municipal administration regarding investment in the semi-conductor industry, including mechanisms to attract investment in vocational training.

The same day, the Chairman of the municipal People’s Committee also met with An Kuk-jin, General Director of Daewoo Engineering & Construction Vietnam (Daewoo E&C) and Chairman of THT Development.

Thanh said Ha Noi has outlined orientations for urban development and asked the companies to continue investing in the capital city.

An presented some requests to the city’s leader so that his company can quickly complete its investment project, especially the Tay Ho Tay – Starlake urban complex.

Mekong Delta province's industrial parks prove irresistible to investors

Industrial parks and clusters in the Cuu Long (Mekong) Delta province of Tien Giang attracted more than VND834 billion (US$35.4 million) in the first eight months of this year, according to the province People’s Committee.

This represents a four-fold increase year-on-year.

Industrial parks house 81 foreign and 29 domestic projects worth $2.25 billion and VND2.37 trillion, which offer more than 93,000 jobs.

Nearly 92 per cent of their total area has been leased.

Industrial clusters have attracted seven foreign and 73 domestic projects worth $153 million and VND2.41 trillion, and offer more than 17,000 jobs.

Tien Giang has three industrial parks, My Tho, Tan Huong and Long Giang, and five industrial clusters, Trung An, Tan My Chanh, Song Thuan, An Thanh No.1, and Gia Thuan No.1.

It plans to build three more, Tan Phuoc Nos 1 and 2 and Binh Dong, besides 15 industrial clusters to meet demand.

Vietnamese exports to Canada enjoy surge over seven-month period

Vietnam’s exports to the Canadian market during the initial seven months of the year increased by 32.2% to US$3.87 billion compared to the same period from last year, according to the Vietnamese Trade Office in Canada.

With this growth momentum, the country’s exports to the demanding market this year are anticipated to surpass the US$6 billion mark and achieve a minimum growth of 15% in comparison to 2021’s figures.

Tran Thu Quynh, the Vietnamese trade counselor in Canada, revealed that strong export growth was recorded in commodity groups such as seafood, iron and steel, plastic materials and chemicals with iron, steel, electric cables, and construction metal products, all of which are set to witness robust growth ahead in the remaining months of the year.

Amid the complicated global situation, Canada is keen to diversify supply sources in order to avoid disruption. This comes amid Canadian businesses showing great interest in the supply source from the Vietnamese market.

Being a nation involved in a wide network of Free Trade Agreements (FTAs), there are bright prospects ahead for Vietnamese firms to co-operate in production activities and Original Equipment Manufacturers (OEM) outsourcing for Canadian brands.

According to details given by the Vietnam Trade Office in Canada, OEM outsourcing for Canadian enterprises will also create prime opportunities for Vietnamese enterprises to turn to large-scale and deep processing, as well as building their own marketing strategies and brands.

Moreover, although local firms cannot directly export their products under their own brand, outsourcing to foreign supermarket systems will open up more prospects for Vietnamese products as they seek to gain greater entry to demanding markets which have higher requirements.

Vietnamese firms advised to capitalise on exports to Canada

Canada wants to diversify supply sources to avoid disruption in supply chains, and is interested in supply sources in Vietnam amidst complicated developments in the world situation, according to the Vietnamese Trade Office in Canada. 

According to official statistics, Vietnam-Canada export turnover in the first seven months reached 3.87 billion USD, up 32.2% year-on-year. The figure is expected to surpass 6 billion USD this year, growing at least 15% compared to 2021.

Trade experts said Vietnam is Canada's largest trading partner in Southeast Asia, but the room for Vietnamese goods exported to the market remains extensive because their market share in Canada is still quite modest.

In 2021, Vietnam exported 5.3 billion USD worth of products to Canada, up 20.8% from 2020 and 75% from the pre-CPTPP period. Vietnam is also a leading shrimp supplier of Canada and one of the five largest exporters of wooden furniture in this market.

Nearly 300 technological brands introduced at NEPCON Vietnam 2022

The International Electronics Manufacturing Technology Trade Exhibition and Conference (NEPCON Vietnam 2022) kicked off in Hanoi on September 14, featuring nearly 300 brands of technology, machinery and equipment. 

Jointly organised by RX Tradex Vietnam - ASEAN's leading exhibition organiser, the Vietnam Electronic Industries Association (VEIA) and the Singaporean Association of Information Technology and Communication, the three-day event sees the participation of exhibitors from over 20 countries worldwide, including Japan, the US, China, Singapore, Thailand, Germany, and India. 

According to the Ministry of Planning and Investment, more than 570 new projects have been granted investment registration certificates so far this year. Foreign investors have poured capital into 18 out of the 21 economic sectors, showing that the demand for trade and production recovery is increasing. 

NEPCON Vietnam 2022 is a good chance for businesses to learn and share experience, and update advanced technologies and smart production solutions towards promoting sustainable development, Huong stressed.

FDI disbursement in eight months posts record high

Foreign-invested enterprises in Vietnam are recovering well and focusing on production and business expansion, with disbursement reaching a record high in the first eight months of 2022, according to director of the Ministry of Planning and Investment’s Foreign Investment Agency (FIA) Do Nhat Hoang.

FIA statistics showed that during January-August, FDI disbursement hit 12.8 billion USD, up 10.5% year-on-year.

Vietnam's resumption of economic activities has helped foreign investors speed up the implementation of their projects. Recently, Nghi Son 2 BOT Thermal Power Plant, with a total investment of nearly 2.8 billion USD, was officially put into commercial operation, providing an additional 7.8 billion kWh per year to the national grid, contributing to meeting the energy need for production and business.

In addition, Samsung's Research and Development Centre project in Hanoi is expected to be completed by the end of this year. Its capital addition, worth over US$2 billion in Thai Nguyen and Ho Chi Minh City, will also be disbursed soon.

According to economists, disbursement is an important factor, as it can really create motivation for the economy.

To attract more FDI, they advised Vietnam to focus on perfecting investment institutions, and researching and promulgating policies suitable to each industry and field.

Localities should publicise a list of industrial parks which have land available and infrastructure ready to lure more investors.

New order growth picks up speed in manufacturing

Vietnam witnessed a quicker pace of growth in the manufacturing sector in August amid improving demand, with faster increases in new orders, output, and employment.

The latest survey by S&P Global revealed that the Vietnam Manufacturing Purchasing Managers' Index posted 52.7 points in August, up from 51.2 points in July and signalling a solid improvement in the health of the manufacturing sector midway through the third quarter of the year. Business conditions have now strengthened in 11 consecutive months.

Production growth regained momentum in August, after having slowed in July. The fifth successive rise in output was solid as firms reported a continued recovery and greater new orders.

Manufacturers reported higher new orders from both domestic and export customers. In line with the picture for output, the rise in total new orders was solid and sharper than seen in July. The increased customer numbers, improving demand and competitive pricing was all behind the latest expansion.

Firms were helped in their efforts to price competitively by waning cost pressures. The rate of input price inflation slowed sharply for the second month in a row and was the weakest in 27 months of rising costs.

In turn, firms also increased their own selling prices at a softer pace, and one that was only marginal. The survey's respondents mentioned lower costs for oil and other raw materials, although some firms continued to report rising transportation costs.

Rising new orders encouraged manufacturers to expand their staffing levels again in August. As was the case with output and new orders, the rate of job creation quickened midway through the third quarter.

Andrew Harker, Economics director at S&P Global Market Intelligence said, "The most eye-catching development in August was a further sharp slowdown in input cost inflation, with costs only rising marginally in the latest survey period. This gave firms some breathing room to limit their own price rises, thus boosting demand. Manufacturers also benefitted from the first shortening of suppliers' delivery times since November 2019, a marked turnaround from the widespread delays seen this time last year."

A further increase in employment was partly behind the second reduction in backlogs of work in the past three months. In fact, the decline in outstanding business was the most pronounced in just over a year.

Firms also responded to higher output requirements by expanding purchasing activity, the 11th consecutive month in which this has been the case.

Despite rising purchasing activity and quicker deliveries from suppliers, stocks of purchases continued to fall as inputs were used to support the growth of production. Stocks of finished goods were also down as products were dispatched to customers.

Expectations that market conditions will be relatively stable over the coming year and that customer demand will improve supported confidence in the year-ahead outlook for production. Around 57 per cent of respondents predicted that output will increase over the coming 12 months, against 9 per cent that expected a decrease.

Agro-forestry-fishery trade surplus reaches US$6.4 billion in Jan-Aug

The agricultural, forestry and fishery sector’s trade surplus in the first eight months of 2022 amounted to US$6.4 billion, the Ministry of Agriculture and Rural Development reported.

The sector’s January-August exports rose 13.1% againts the same period last year to US$36.3 billion, while its imports inched up 3.9% to US$29.9 billion, leaving a trade surplus of US$6.4 billion.

Phung Duc Tien, deputy minister of Agriculture and Rural Development, told a press briefing on September 5 that the trade surplus in agriculture, forestry and fishery products grew nearly two-fold compared to 2021.

The January-August period saw shipments of key agricultural products totaling US$15 billion, up 7.4% year-on-year, forestry products rising by 6.2% to US$11.8 billion, and aquatic exports soaring 35.3% to US$7.5 billion. 

There were five items generating export revenue of over US$2 billion each, namely coffee, rice, shrimp, rubber and wood and wooden products. 

The export value of Vietnam’s agriculture, forestry and fishery products to markets in Asia accounted for 43.1% of the total, followed by the Americas (28.9%) and Europe (11.8%).

The U.S. remained Vietnam’s biggest buyer, with a total import bill of US$8.7 billion. China came second with US$6.5 billion, and Japan third with $US2.7 billion.

Gov’t okays Dau Giay-Tan Phu expy project

Deputy Prime Minister Le Van Thanh has signed a decision approving a project to develop the Dau Giay-Tan Phu expressway under the public-private partnership format.

The 60-kilometer expressway in Dong Nai Province will allow for a maximum speed of 100 kilometers per hour and cost over VND8.3 trillion, sourced from the State budget and the private sector.

Once in place, the expressway will facilitate transport and traffic and share the rising burden of National Highway 20, boosting socio-economic growth in Dong Nai Province and elsewhere in southeastern Vietnam.

The expressway will contribute to completing the traffic connectivity between HCMC, Dong Nai and Lam Dong.

The project will be executed from now until 2025.

Cargo throughput at HCMC seaports declines

Cargo throughput at ports countrywide climbed in the first seven months of the year, HCMC’s ports saw a considerable decrease in goods volume, according to the Vietnam Maritime Administration.

The total volume of cargo passing through the country’s seaports hit 433.83 million tons in January-July, up 2% year-on-year.

Quang Ninh, An Giang, Dong Thap, Quang Tri, Quang Nam and Dong Nai provinces saw sharp rises, with the largest increase reaching 110%.

However, the cargo flow and transit at key ports plummeted, with HCMC’s throughput dropping by 7.35% to 95.8 million tons and Ba Ria-Vung Tau Province’s throughput falling by 5% to 66.1 million tons.

Goods throughput in the provinces of Binh Thuan and Kien Giang fell sharply, from 17% to 19%.

In the first seven months, the containerized cargo volume passing through the seaports reached 14,927 million twenty-foot equivalent units, or TEUs, which is relatively equal to the same period last year.

In HCMC, container throughput fell by 3.41%. The provinces of Quy Nhon and Nghe An reported decreases ranging from 8% to 16%.

HCMC to develop new urban areas along metro lines

The Ho Chi Minh City Planning and Architecture Department informed that the city is going to establish 10 new residential areas along Metro Route No.1 in order to answer the accommodation needs of its residents and create a large quantity of passengers of this route.

Accordingly, the new urban areas will be built from Saigon Bridge to the National Cultural and Historical Park, over a surface area of 577 ha and a length of nearly 15km. The other direction from Saigon Bridge to the downtown will have no new residential areas since the population there is dense enough.

The to-be urban areas consist of:

_Zone A – Thao Dien (in Thao Dien Ward) with an area of more than 37ha, a population of 12,700 residents, and a maximum height of 35 floors;

_Zone B – An Phu (in An Phu Ward) with an area of more than 71, a population of 22,200 residents, and a maximum height of 40 floors;

_Zone C – Rach Chiec (in An Phu Ward) with an area of 33ha, a population of 3,500 residents, and a maximum height of 26 floors;

_Zone D – Phuoc Long (in Truong Tho Ward) with an area of more than 127ha, a population of 24,900 residents, and a maximum height of 45 floors;

_Zone E – Binh Thai (in Truong Tho Ward) with an area of 82ha, a population of 2,500 residents, and a maximum height of 26 floors;

_Zone F – Th Duc (in Binh Tho Ward) with an area of more than 38ha, a population of 6,000 residents, and a maximum height of 20 floors;

_Zone H – Hi-tech Park (in Linh Trung Ward) with an area of 42ha, a population of 5,600 residents, and a maximum height of 25 floors;

_Zone K – Suoi Tien (in Tan Phu Ward) with an area of 40ha, a population of 900 residents, and a maximum height of 15 floors;

_Zone L – new East Coach Station (in Long Binh Ward) with an area of 37ha, a population of 3,500 residents, and a maximum height of 15 floors;

_Zone G – near Thu Duc Water Plant (in Hiep Phu Ward), with an area of over 32ha, a population of 4,700 residents, and a maximum height of 20 floors.

The above urban areas will have multi-functional buildings, high-rise apartment buildings within 200-400 meters from the metro station. The square area of the stations is planned for pedestrian streets, parking lots, and public parks to serve local people there.

HCM City boasts huge potential for bleisure travel

Ho Chi Minh City has great potential for developing bleisure travel – a type of tourism combining business travel with leisure time, according to a recent seminar.

The event saw over 500 delegates in attendance, all of whom are representatives of domestic and international tourism associations, as well as travel firms.

Participants noted that HCM City has received thousands of domestic and international visitors to do business and strengthen trade exchanges, a factor which opens up a wealth of opportunities to develop bleisure travel in the future.

They underscored the significance of conducting in-depth surveys regarding the needs of business travelers so as to design suitable tourism products and services and improve  the overall quality of accommodation facilities to ensure tourists stay longer.

Furthermore, the tourism industry is required to provide travelers with additional experience in terms of local cuisine, culture, and festivals, develop the night-time economy, and launch resort and medical tourism products moving forward.

Accommodation facilities were advised to ensure smooth internet connection, and create professional working spaces and conference rooms as part of efforts to develop this trend.

Fuel prices adjusted down on September 12

Fuel prices were slashed by over 1,000 VND per litre across the board on September 12.

RON 95-III decreased by 1,015 VND to 23,215 VND per litre. E5 RON92 followed suit with a fall of 1,128 VND, to hit 22,231 VND per litre. Diesel fell by 1,008 VND to 24,180 VND per litre.

A drop of 1,027 VND was observed in Kerosene prices, which were adjusted down to 24,418 VND per litre. Mazut, likewise, went down to 15,039 VND per kilo after an adjustment of 1,038 VND.

The authorities set aside 451 VND for every litre of E5 RON92, 450 VND for RON95, 90 VND for Diesel, 741 VND for Mazut and none for Kerosene to finance the Fuel Price Stabilisation Fund.

The authorities also announced that the funds were not used to stabilise fuel prices this time. Petrolimex said its fund was at 840 billion VND so far.
Under Decree 95, fuel prices are adjusted periodically three times per month, on the first, eleventh and twenty-first day.

Int’l exhibition on beauty products and technology attracts foreign brands

The 2022 International Exhibition on Beauty Products, Technology and Services, Vietnam Beautycare Expo 2022, will be held in Ho Chi Minh City from September 14 to 17.

Vietnam Beautycare Expo 2022 has attracted more than 300 brands from over 15 countries and territories, showcasing the latest beauty products and technology, including customised skin care equipment, healthcare machine, perfumes, spa and salon equipment, and skin, hair, nail and body care products containing pure PDRN, a core component of salmon DNA that helps skin regenerate.

Following the success of previous events held in Hanoi, the expo promises to offer visitors a chance to exchange information and experience products directly with companies from Switzerland, Greece, the Republic of Korea, Japan and other countries.

The highlight of the exhibition this year is the Gobiz Korea pavilion, where visitors can experience the Gobiztown virtual exhibition hall through VR to visit and experience more than 1,000 Korean products including skin care, makeup, hair care, and body care products.

Vietnam Beautycare Expo 2022 will be held at the Saigon Exhibition and Convention Centre together with the 17th Pharmedi Vietnam, an International Exhibition on Products, Equipment, Supplies for Medicines, Pharmaceuticals, Hospitals & Rehabilitation.

Australian travel agencies survey destinations in Binh Thuan

A group of about 20 buyers from travel agencies in Australia took a famtrip to the south-central coastal province of Binh Thuan from September 10 – 12.

The trip was expected to help Binh Thuan expand international markets and robustly revive local tourism industry, according to the provincial tourism promotion information centre. It also provided an opportunity for the province to popularise its signature tourism products and promote itself as a safe, friendly and quality destination.

The Australian buyers visited a number of popular tourist attractions in the province, including Bau Trang (White Lake), Ke Ga Lighthouse, Lang Chai Xua (Old Fishing Village) Fish Sauce Museum, Wine Castle, Poshanu Cham Tower, and Duc Thanh School.

Additionally, they also had a look into accommodation and catering services at several local hotels in Ham Tien – Mui Ne, Tien Thanh and the city of Phan Thiet.

Trade surplus hits US$ 5.49 billion in January-August

Viet Nam's total trade value was estimated at US$499.71 billion in the January-August period, the Viet Nam Customs reported.

The above figure includes US$ 252.6 billion of export turnover, up 18.2 percent from the same period last year.

In the second half of August (August 16-31), trade volume totalled US$35.42 billion, up US$ 5.05 billion in comparison with the first half of the  month. 

Viet Nam’s trade revenue hit US$499.71 billion in the first eight months of 2022, representing a year-on-year increase of 15.9 percent, equivalent to US$ 68.69 billion.  

The FDI sector gained US$ 346.32 billion in trade turnover, up 16.2 percent (US$48.24 billion) in comparison with the same period last year. 

Meanwhile, the domestic sector reported US$153.38 billion in trade turnover, posting a year-on-year growth of 15.4 percent (or US$20.45 billion). 

The Ministry of Industry and Trade said it would support enterprises to seek alternative raw materials sources for production in the remaining months when consumption is often high due to big holidays; and optimize FTAs to spur export.

Source: VNA/SGT/VNS/VOV/Dtinews/SGGP/VGP/Hanoitimes/VGP