Vietnam’s garment-textile export turnover hit nearly 19 billion USD in the first six months of 2021, up more than 20 percent year-on-year.

The positive results was attributed to early post-pandemic recovery of markets.

However, Chairman of Chairman of the Vietnam National Textile and Garment Group (Vinatex) Le Tien Truong, said businesses are facing new challenges due to severe impacts of the fourth wave of COVID-19 outbreaks, which started from late April in the country.

According to Chairman of the Vietnam Textile and Apparel Association (VITAS) Vu Duc Giang, Vietnam set to earn 39 billion USD from garment and textile exports in 2021.

To realise the target, businesses need to proactively seek sources of raw materials for domestic production in order to take advantage of opportunities from new-generation free trade agreements that Vietnam has joined.

Businesses need to promote chain-based production and have specific measures to expand markets, thus further pushing exports, Giang suggested.

Representatives from other garment and textile companies said businesses should pay attention to moderlising production equipment, expanding production and improving workers' capacity, thus meeting high quality orders and demanding requirements of importers./.

Thai Nguyen tea strives to access global market

Specialty tea grown in the northern province of Thai Nguyen has obtained collective trademark protection in the US, mainland China, Taiwan (China) and Russia, setting the scene for the product to gain a stronger foothold in the global market.

Thai Nguyen, located 75 km to the north of Hanoi, is home to the country’s largest tea growing area. The province is well-known for its green, aromatic and black teas. Tea plants have been grown in Thai Nguyen for around 100 years.

Currently, there are more than 22,600 hectares of tea cultivation in Thai Nguyen, with an average output of over 244,500 tonnes of fresh tea leaves each year. More than 80 percent of the local tea area is grown under VietGAP standards.

Last year, its tea production reached 5.58 trillion VND (242.3 million USD), accounting for 44.3 percent of the local agricultural value. The province earned around 270 million VND per hectare of tea in average.

Its tea products are largely consumed domestically, with just about 20 percent exported, mainly to China’s Taiwan, mainland China, Pakistan, Russia, the US, the UK, Afghanistan and Indonesia.

In the domestic market, local tea fetches 120,000 VND – 450,000 VND (5.2 – 19.56 USD per kg, some premium products can be even sold at up to 3 million VND (130.3 USD) per kg. Export prices, meanwhile, mainly range around 1.7 – 2 USD per kg as a majority of shipments are raw materials.

According to the Thai Nguyen Tea Association, the province exported more than 700 tonnes of dried bud tea in the first five months of 2021, and shipments of premium green tea products to demanding markets like Poland, Germany, the US and Japan are on a rise.

Thai Nguyen-branded tea has been favoured by domestic consumers for its unique aroma, said Nguyen Thi Nga, Chairman of the Thai Nguyen Tea Association, local producers have paid more attention on developing more attractive packaging designs and creating a wider range of products, from low-end to high-end. They should not be content with the domestic market only but target more foreign markets.

Export potential remains large for Thai Nguyen tea since there are increasing specialised areas for high-quality tea farming, Nga said, adding that the province has also adopted various policies to support growers and facilitate the growth of tea industry, in terms of input, trade promotion, market development, branding and others.

The association is developing a project for applying Blockchain technology in the management of Thai Nguyen tea production and origin traceability, she noted.

Duong Van Luong, Chairman of the provincial People’s Committee, said Thai Nguyen is accelerating use of information technology and digital transformation in agriculture, particularly tea cultivation and processing. It also hopes to lure more investment, from both domestic and foreign sources, into the industry in an effort to bring more high-quality and a wider range of products to the global market, he noted./.

Vietnamese data centre market to grow at 14.64 per cent a year until 2026

The Vietnamese data centre market stood at $858 million in 2020 and is forecast to grow at a compound annual growth rate of over 14.64 per cent until 2026.

The growth in the Vietnamese data centre market is driven by government projects and initiatives in the country. Data protection is a matter of global concern and is becoming an important issue on the agenda of the Vietnamese government as well.

The data localisation requirement under the Cybersecurity Law, plus the need for better processing speed to assist Vietnamese users are the main drivers, which are anticipated to significantly enhance the demand for data centres in Vietnam. The Vietnamese government's inclination toward digitalisation has further bolstered the demand for data centres across the country.

Furthermore, the Vietnamese data centre market is driven by the shifting of enterprises' data to cloud platforms. This has led to an increase in the adoption of data storage solutions, which in turn is expected to positively influence the growth of the market.

Additionally, the growing adoption of big data solutions, the Internet of Things, and cloud-based solutions, among others, is expected to propel market growth through 2026. Increased investment in building effective data centre infrastructure and technological advancements are expected to create lucrative opportunities for market growth until 2026.

The Vietnamese data centre market is segmented based on solution, type, end-user industry, and region. Based on solutions, the market can be segmented into IT Infrastructure, general infrastructure, electrical infrastructure, mechanical infrastructure, and other infrastructure. The IT Infrastructure dominated the market in 2020 with a share of 65.62 per cent on account of increased demand for digital infrastructure projects in sectors including banking/financial services (fintech), telecommunications, energy, smart agriculture, and government.

Following the global trend for cloud technology, there is growing interest and demand from Vietnamese companies for cloud services. Opportunities for service providers within IT services include IT technical training and IT consulting, management, software/enterprise applications (ERP and CRM system, finance and accounting software), data centres, and data storage as well as web services.

Based on type, the market can be bifurcated into corporate and web hosting. Here, the corporate segment dominated the market in 2020 with a share of 61.56 per cent and is expected to continue dominance throughout the forecast period owing to the growing demand for data storage solutions among corporations. Furthermore, the increasing volumes of data being generated every day across enterprises is further expected to drive segmental growth.

On the basis of end-user industry, the market can be bifurcated into IT and telecommunications, government, banking, financial services, and insurance, healthcare, and others. Vietnam was rated as one of 10 emerging markets in the global data centre market, with impressive growth, international-standard service delivery capacity, and large capacity of organisations and enterprises.

Some of the major players in the Vietnamese data centre market include FPT Corporation, Viettel-CHT Ltd. Co., Vietnam Posts and Telecommunications Group, KDDI Corporation, Hitachi Asia (Vietnam) Co., Ltd., Hewlett Packard Enterprise, SAP Vietnam Co., Ltd., IBM Vietnam Co., Ltd., Microsoft Vietnam LLC, and Amazon Web Services Vietnam. The companies are developing advanced technologies and launching new products and services to stay competitive in the market. Other competitive strategies include mergers and acquisitions and new product and service developments. 

Carmakers ride on despite sales dip

Famous automakers are pushing on with plans to launch new models and promotions in Vietnam despite the pandemic roadblocks, thanks in part to positive results made over the first half of the year.

According to the Vietnam Automobile Manufacturers Association, Vietnamese consumers bought 150,481 units, up 40 per cent on-year in the first six months of 2021, in which passenger vehicles saw sales rise 37 per cent, and commercial vehicles grew 48 per cent.

The recovery of the car market has nevertheless slowed in 2021 as many dealers such as Toyota, Ford, and Mitsubishi in Ho Chi Minh City, Hanoi, and other provinces had to suspend operations to adhere to social distancing measures.

For June only, the total industry reached 23,587 units, down 8 per cent on-month, of which 15,802 units were passenger cars (down 10 per cent versus the previous month), and commercial vehicles at 7,131 units (down 5 per cent).

Among automobile manufacturers and traders in Vietnam in June, except for VinFast, Honda, and Suzuki, which still maintain growth momentum, the sales of the remaining car manufacturers in the market have all decreased significantly. This includes Ford, which saw sales drop 23 per cent, while Mazda and Mitsubishi witnessed a fall of 25 and 33 per cent, respectively.

Southern cities and provinces, including key markets such as Ho Chi Minh City, Dong Nai, and Binh Duong – which account for nearly 45 per cent of the country’s monthly auto sales – saw car consumption in June only make for nearly 40 per cent.

“The auto business has never been as difficult as it is now; the impact of the new wave of COVID-19 continues to drag sales down,” said one Ho Chi Minh City car dealer. “Even the number of cars that have signed sales contracts and are deposited by customers must be kept in storage because they cannot be registered, causing a burden for dealers.”

Meanwhile Dang Quan, head of sales at a Hyundai showroom in Hanoi, said that the sales fell quite sharply in June compared to the previous month, but the trend was not a surprising one.

Quan added that the global shortage of semiconductor chips has also affected the production and assembly of domestic vehicles as well as the import of many car models to Vietnam for distribution.

A representative of Truong Hai Auto Corporation (THACO) predicted in local newswires that the number of locally-assembled cars to the market will decrease in the near future, which will lead to an increase in car prices, especially with imported cars. Therefore, domestic assemblers have been trying their best to minimise the impact on customers.

Japanese carmaker Toyota Vietnam previously admitted delay of delivery of some imported models due to limited supply. But, although the global shortage of semiconductor chips has not affected Toyota Vietnam’s production so far, big risks remain.

In order to maintain sales, carmakers including Toyota, Honda, Mazda, Nissan, Mitsubishi, and Hyundai are in a race to launch the best updates and models and accompanying campaigns.

Updated models include the Toyota Vios, Hyundai Santa Fe, Isuzu D-Max, Mitsubishi Attrage, Volkswagen Tiguan, Mercedes C-class and E-class, and BMW Series 5.

A survey of dealers found that the Vietnamese auto market has been recording the deepest price drop since 2017 in many brands. The retail prices of most popular car models are decreasing (even with models down to hundreds of millions of VND) compared to the listed prices associated with promotions, incentives, and special offers including the registration fee cuts.

Honda has offered its CRV preferential Civic model at a reduction of VND40-60 million ($1,700-2,600) per unit. Toyota Vietnam meanwhile opened a promotional programme to reduce VND20-30 million ($870-1,300) per unit compared to the listed price for some models, while the high-end line being distributed by THACO in the Vietnamese market such as the BMW 3-Series, BMW 530i, and BMW 740Li has seen a reduction of VND180-200 million ($7,800-8,700) per unit.

According to experts, despite the application of many measures to stimulate demand, it is forecast that car sales will continue to decline in the coming months due to the restrictions being placed in key markets. In addition, next month is the lowest shopping period of the year, which will place even tougher challenges on the business activities of car manufacturers as well as the auto market as a whole. 

E-commerce groups tapping into ditigal market growth

Vietnam’s fast-growing digital economy is hoping to lure big foreign funding to cash in on the enormous potential – although whittling down the use of physical cash could take a lot longer.

Yuan Fang, director of Southeast Asian investment at BAce Capital, a fintech-focused venture capital fund backed by Ant Group and Alibaba said, “Last year, BAce capital only invested in Singaporean and Malaysian markets. This year, we are paying more attention to the Vietnamese market. We really value companies and entrepreneurs who work to create value for consumers and society.”

“There’s still a lot of room for improvement in the e-payment and fintech industry in Vietnam. Vietnam’s credit growth and banking penetration rate are still low. Many Vietnamese people aren’t able to enjoy the benefits of cashless payment. The fintech industry is still in its infancy and we’re very positive about its future growth,” Fang said, adding that Vietnam can apply the story from China to drive its digital economy.

Specifically, the original idea of Alipay was to provide add-on services and resolve the trust issues of customers. Alipay was born in 2004, in the context of Alibaba just starting to enter the e-commerce market, needing a tool to ensure online transactions will take place safely and create confidence for consumers. Since then, the e-payment revolution in China began.

“To further drive e-commerce growth, the first step is to bring whatever is available offline to online; then the next step is to create what is yet to exist offline in the online platform. That is similar to how Alibaba created Alipay, which was a completely new concept,” Fang noted.

Vietnam already has a very good foundation in the form of an excellent manufacturing industry and logistics systems.

Likewise, Vu Nguyen, vice president at Singaporean sovereign wealth fund Temasek, is upbeat about the potential of the Vietnamese market.

He said, “The popularity of smartphones and rising internet penetration are amongst the major growth drivers of e-commerce in Vietnam. One more driving force is the large population of millennials and Gen Z, who actively engage in online shopping and social media. This leads to the growth of social commerce in Vietnam, combining the ease and accessibility of e-commerce with the community engagement of social media. Other enablers for e-commerce growth are logistics systems, payment systems, and a regulatory environment.”

To tap into the market’s growth, Temasek has stepped up its activities in Vietnam’s digital economy with investment in Vietnam’s first unicorn VNG, as well as Scommerce - the parent company of startups GHN and AhaMove.

Vietnam’s digital economy is forecast to grow to $52 billion by 2025, an annual 29 per cent increase from 2020, according to a study published by Google, Temasek, and Bain & Company at the end of last year. It noted that Vietnam’s e-commerce market value reached around $12 billion in 2020, ranking after Indonesia, Thailand, and Singapore.

Moreover, the work-from-home trend has expedited delivery and ride-sharing, as well as the desire to avoid contact with shops and food and beverage outlets. This, combined with the meteoric rise of e-commerce, has also boosted demand for delivery and ride-sharing services. E-wallets have also benefited since the use of cash-on-delivery has decreased marginally.

Despite the potential, there are some challenges for Vietnam to unlock the full potential of the market. Trung Nguyen, co-founder and CEO of Loship said, “It’s all about payment. Our platform processes about 100,000 transactions a day, 80 per cent of which is cash-on-delivery. Vietnam is mainly a cash-based economy, with most transactions conducted using cash as payment. Customers don’t want to pay upfront, which can lead to a situation where customers want to return the product, further increasing operational costs. If the ratio of e-payment can go up to 50-60 per cent, it will bring about a sea change in the logistics and e-commerce industry.”

“Meanwhile, the more e-commerce grows, the more logistics services and last-mile delivery are forced to grow alongside it,” Nguyen added.

Fast fulfilment is becoming an industry expectation, as consumers now expect fast, free shipping and competitive pricing.

“This customer demand challenges logistics and last-mile delivery companies, and companies are now forced to adjust their strategies to provide the low-cost and on-demand delivery service that meets the customer needs,” he explained.

Long Pham, country manager at Hong Kong-based capital fund Access Ventures, said that the concept of e-wallets and digital payment is dominant in top-tier cities in Vietnam. The adoption of cashless payments in the country is high, not only in terms of e-wallets but card-based payments as well. Meanwhile, in lower-tier cities, cash is still king.

“The digital payment space in Vietnam has been growing tremendously in recent years, with the surge of e-wallet platforms like MoMo or the integration between digital payment and banks such as VNPay. However, Vietnamese consumers still prefer cash payments, which is a significant challenge hindering the growth of e-commerce.” 

Vietnam's express delivery market reached $700.4 million in 2020

Vietnam's express delivery services market is booming with a valuation of $700.4 million in 2020 and is projected to reach $1655.96 million by 2028, according to the latest report by Research and Markets.

The report points out that many domestic express delivery companies are operating in Vietnam and they are constantly witnessing huge growth by investing in the adoption of modern technology to meet the expanding demand in the delivery of goods through e-commerce.

High adoption of express delivery services has been observed across major essential sectors, such as food and beverages and healthcare. The demand from Vietnamese customers to receive the items on the same day or in a day's time has increased over the years.

The highest adoption is noticed across the healthcare sector. In the healthcare sector, the high demand for quality, availability, accuracy, and cost control place similarly high expectations on logistic solutions. Thus, the above-mentioned factors are likely to influence the growth of the Vietnam express delivery services market during the forecast period.

The emergence of COVID-19 across Vietnam – which led to lockdown scenarios – has led the industry experts to analyse that the industry would face at least a quarter of lag in offering express delivery services. This disruption is expected to create tremors through mid-2021. The express delivery of parcels and electronics equipment is likely to pick up pace soon as governments across Vietnam lift the various containment measures in order to revive the economy.

The flight cancellations restricting international delivery and travel to curb the spread of the pandemic, have led to substantial slowdown of express delivery service activities. There has been a decrease in letters and document parcels due to the pandemic. However, there is an increase in e-commerce parcels, owing to the rising number of people shopping through online platforms. The delivery of daily essentials and e-commerce industry is anticipated to influence the express delivery services industry in Vietnam positively throughout the COVID-19 outbreak.

The country's B2B express delivery services experienced a slowdown and came to a halt whereas B2C services are witnessing growth during the pandemic, owing to huge growth of the online retail and e-commerce industry. Further, due the interruption in supply chain and logistics, the procurement rate of various delivery services, including domestic and international, has been quite affected.

Despite the challenges, Vietnam's express delivery services market is expected to grow at a compound annual growth rate of 11.9 per cent from 2021 to 2028. 

Vietnam signs contract of third PPP section of North-South Expressway

The Ministry of Transport, DeoCa Group, and a consortium of investors on July 30 signed a build-operate-transfer (BOT) contract for the Cam Lam-Vinh Hao section of the Eastern Cluster of the North-South Expressway.

The Cam Lam-Vinh Hao section is one fo three public-private partnership (PPP) sections under the Eastern Cluster of the North-South Expressway. After the contract signing, Cam Lam-Vinh Hao will enter the phase of credit arrangement and then construction.

According to the feasibility study, the section has a total length of 78.5km, starting from Cam Thinh commune of the southern central province of Khanh Hoa to Vinh Hao commune of the southern central province of Binh Thuan.

The Cam Lam-Vinh Hao section has a total investment capital of nearly VND8.93 trillion ($388.26 million), with VND3.78 trillion ($164.34 million) coming from investors and about VND4.2 trillion ($182.6 million) to be sourced from the state.

The section, together with other sections of the Eastern Cluster will help increase transportation capacity, connecting south-central and south-eastern economic hubs and boosting regional trade, thus promoting regional socio-economic development.

Addressing the signing ceremony, Deputy Minister of Transport Le Anh Tuan said that due to state budget constraints and the negative impacts of COVID-19, involvement of businesses in transport projects, including expressways, is essential to support national development.

“The MoT pledges to support investors and businesses and help them deal with possible problems to accelerate development and ensure the benefits of the state, businesses, and the people,” he noted. 

EU-Vietnam FTA after the first year: Remarkable achievements amid COVID-19

After the first year in effect, the EU-Vietnam Free Trade Agreement brought about remarkable achievements even in the midst of an unprecedented global pandemic.

The European Chamber of Commerce hosted a webinar on July 30 to mark the first anniversary of the implementation of the EU-Vietnam Free Trade Agreement (EVFTA) with more than 200 attendees and featuring special guest speakers from the Ministry of Industry and Trade (MoIT), the Vietnamese Embassy in the EU, and the EU Delegation to Vietnam.

This historic new-generation free trade agreement was implemented on August 1, 2020. From the moment it entered into force, 65 per cent of EU exports to Vietnam and 71 per cent of Vietnamese exports to the EU became tariff-free. Over the next decade, this will rise to almost 99 per cent.

The webinar evaluated the first 12 months of implementation and discussed opportunities for further cooperation in the future.

In the first six months of 2021, the value of EU-Vietnam trade reached $27 billion. That represents an increase of more than 18 per cent compared to the same period in 2020: a remarkable achievement in the midst of a global pandemic. It should increase even further when the EU-Vietnam Investment Protection Agreement (EVIPA) enters into force, once it has been ratified in each EU member state.

However, the EVFTA includes more than tariff reductions – essential though these are. It will also support Vietnam in areas such as environmental protection, legal reform, and sustainable development. Meanwhile, the agreement opens up market access for EU investment in other sectors and industries from higher education to computer services and from distribution to telecommunications.

Despite this progress, challenges still remain. While the EuroCham’s Business Climate Index (BCI) shows that almost two-thirds of companies have benefitted from the EVFTA, it also shows that challenges such as administrative procedures and technical barriers to trade remain.

During the event, each of the four speakers reaffirmed the importance of the EVFTA and the EU-Vietnam Investment Promotion Agreement (EVIPA) to the future of EU-Vietnam trade, and proposed greater cooperation and dialogue to ensure smooth and successful implementation.

Speaking at the event, EuroCham Chairman Alain Cany said “Right now, governments around the world are focusing all their efforts on fighting the COVID-19 pandemic. However, this does not mean that we should lose sight of the EVFTA. In fact, it is now more important than ever. Because, once vaccinations have been delivered and the pandemic brought under control, our economies need to reopen and recover.”

“And, just as vaccines will help to combat this global health crisis; free, fair, and rules-based trade will help to combat the global economic crisis. For Vietnam and the EU, the EVFTA will be one of the most important tools at our disposal. This is because, now that the agreement has been implemented, both companies and consumers will be able to benefit from a gradual elimination of tariffs and a mutual opening of markets,” he noted. 

Industrial real estate: Narrow internal-external distance

To keep their home market, many domestic industrial real estate investors are not only racing to amass land funds but also to improve the quality of their products and industrial park management capabilities to attract customers.

In the first half of 2021, industrial real estate saw steady growth as foreign investors keep increasing local land funds, despite no less than two waves of COVID-19 hitting industrial parks (IPs) in the first half.

These foreign investors include several big names such as multi-functional real estate developer Frasers Property Vietnam which has just announced its first IP project in Vietnam named Binh Duong IP. This IP will bring more than 200,000 square metres of factory space to the market over the next 6-7 years.

ESR Cayman Limited (Hong Kong) and BW Industrial Development JSC have also recently established a joint venture (JV) to develop a modern IP named My Phuoc 4 IP in the north of Ho Chi Minh City, with an area of about 240,000sq.m intended for logistics and light industry.

In a similar move, after setting up a JV for modern logistics real estate for Vietnam last October, SEA Logistic Partners and GLP – the largest warehouse operation investment and management corporation in China – is also actively gathering land for their future plans in Vietnam. By the end of this May, this JV closed deals for five industrial land projects with a total area of nearly 700,000sq.m situated in strategic locations in Ho Chi Minh City, Hanoi, and Haiphong City (Nam Dinh Vu IP – Sao Do Group).

Jeffrey Shen and Stuart Gibson, co-founders and co-CEOs of ESR, commented: “Vietnam's industrial real estate and logistics real estate are in an 'adolescent age'. It is one of the most promising markets in Southeast Asia, benefiting from a range of favourable macroeconomic factors, including high and stable GDP growth, rising income levels, emergence of the middle class, rapid urbanisation, and infrastructure development.”

Pham Van Nam, an expert in industrial real estate research at the Vietnam Industrial Parks Portal, shared that Vietnam's industrial real estate market is still at a nascent stage.

Specifically, the general level of competence of domestic industrial real estate developers is quite low. With the exception of a few, after 20 years, most industrial real estate developers are of a small scale and limited capabilities, with a lack of vision and strategy.

A number of developers only focus on convenient location in their land funds. However, due to their limited capabilities, implementation work is fragmented, leading to long years of delays and wasting land resources.

Nguyen Hong Van, Hanoi market director at JLL Vietnam shared that for a long time, many domestic investors possessing a large land bank and good location were only interested in developing traditional products, that is, selling/renting land. But as the industrial real estate market reaches a new level of development, ready-built factories are becoming a trend to serve the demands for small- and medium-sized investors, especially satellite companies of multinational corporations looking to shift production. Several investors exploring the market also need to rent factories before making long-term investment decisions.

Meanwhile, Nguyen Thanh Phuong, general director of Sao Do Group, the owner of Nam Dinh Vu IP in Haiphong city said: "Currently, the traditional warehouse system in Vietnam is quite messy, operating at a suboptimal level. Besides that, there is a shortage of international-standard warehouses that can meet the stringent requirements of large manufacturers, while products have not been tailored to the needs of investors.”

According to Phuong, in order to close the gap with foreign investors, domestic ones need to design and "pack" products that are suitable for tenants. In particular, the development of ready-built factories is indispensable in this period.

In fact, Sao Do Group has been cooperating with a professional corporation specialised in the development and operation of ready-built factories named BW to set up this product line at Nam Dinh Vu IP.

“Moreover, with the aim of better serving investors, from the very beginning, we had oriented Nam Dinh Vu as an IP to have an advantage of a seaport," Phuong added. "Therefore, we reserved 200 hectares to expand the seaport and logistics subzone. This area currently consists of seven container and general cargo berths, bonded warehouse and logistics facilities with infrastructure following modern and synchronous standards, all of which are receiving continuing investment."

“Along with direct and indirect investment arriving through mergers and acquisitions, if domestic investors do not improve themselves, their products, and their management capabilities, they will not receive quality secondary investors. Meanwhile, the government and localities are growing more careful in screening foreign investment inflows. There is always a risk of losing market share to foreign investors,” Phuong explained.

Industrial real estate is a golden opportunity now, but it is not always profitable, especially as more enterprises participate in the market, increasing competition. Not only foreign investors also domestic investors shall face this competition. 

Real estate moves with times in tech-led efforts

The real estate market in 2021 has seen a downturn in revenues, sales decreasing, and vacant spaces on the rise. With that, developers are attempting to persuade more buyers to accept new tech-based methods of product introduction.

At the end of June, Thang Loi Group held a livestream event to introduce The Sol City’s progress to customers. The livestream attracted more than 2,000 investors and brought in nearly VND90 billion ($3.9 million) in revenues after only one hour online.

“COVID-19 has opened up competition in establishing new ways of trading in the market,” said Tran The Anh, sales director of Thang Loi Group. “The application of technology is an opportunity for Thang Loi Group to approach end-users, increase competitiveness, and reaffirm our capacity. Transactions in online platforms will help the project be more transparent, too. Customers can have the latest information on legalities, progress, and design of the projects.”

According to David Jackson, CEO of Colliers International, selling real estate online is an inevitable trend because it can take advantage of many outstanding technology advantages.

“Under normal conditions, this method helps customers who are far away from real estate or are too busy to still attend seminars and product launches held online with detailed information. Under current conditions, of course, this method means people do not need to attend mass gatherings, limiting the possibility of COVID-19 infection,” Jackson told VIR.

Selling real estate is a process of building trust, and as people become more knowledgeable about the related technology and use many online transaction channels themselves, they also gradually begin to believe in this sales method in the real estate field.

“Developers are continuing to build very convenient sales applications or websites to digitalise their operation. This helps customers find information faster, more comprehensively, and more accurately,” Jackson added.

However, this method also reveals disadvantages. Because real estate has great value, it is necessary to consider additional factors such as traffic connections and surrounding utilities. At the end of the day, buyers still want to see the project in the flesh.

Dinh The Quynh, deputy general director of Hai Phat Land, said that real estate is a significant investment and the process is not likely to be replicated by online selling, therefore real estate transactions still require a lot of direct contact such as visiting the sales gallery and attending launch events.

“We faced many challenges at first when we started this method to insists buyers go with us. However, they are becoming more familiar and are adapting to these new methods,” Quynh said.

Jackson also confirmed that online product introductions are becoming a more helpful channel to build trust in customers gradually. “This is an important link in the process of receiving information, helping buyers gradually grasp and be convinced about the product. Even so, the association with the brokers is still inseparable and real-life interaction will still play a decisive role,” he added.

The big trend in the combination of real estate and technology falls under the umbrella of proptech. Real estate businesses should quickly grasp this trend and apply it synchronously to the areas of communication, marketing, transaction, and management, Jackson added. Online methods also allow selling 24 hours a day rather than just at an hour event or through sales agents.

In Vietnam, several businesses are actively promoting the application of proptech. For example, Vinhomes’ online real estate trading platform was launched in March with an online-to-offline model that can help improve the secondary market and help customers access more promotions.

To apply proptech most effectively in the current period, developers need to know how to take advantage of the power of AI and big data, explained Jackson of Colliers.

“Although there are many advantages, businesses also need to pay attention to some problems that may occur when applying proptech, such as leaking customers’ personal information. In addition, the proptech application also requires a systematic approach, investing a lot of money, time, and human resources,” he added.

According to Nguyen Hung Thuan, a property salesman in Ho Chi Minh City, livestreaming platforms for companies and individuals on social networks such as Facebook, YouTube, Twitch, Tik-Tok, and Twitter, and other application tools with livestream functions are being used. Many investors are also using video editing tool View 360 for projects for illustrating mock-up houses.

“It is challenging for buyers to have a deal done based entirely on information on an online platform. Buyers still have the habit of coming to the site, even many times, to observe and have a real feeling about the product. However, the success rate of online sales still exists and is increasing over time,” Thuan told VIR.

Self-promotion key for IZs to pick up electronics greats

Although Vietnam’s industrial zones have demonstrated their attractiveness in alluring many top multinational corporations, they need to focus more on legal procedures, addressing labour problems, and giving more straightforward guidance to attract even more international investors.

According to Meir Tlebalde, associate director at KPMG Tax and Advisory, developers of such zones (IZs) should put a high focus on completing pending legal procedures and documents to be more attractive for global electronics players in particular.

“This can be done with the closer cooperation with the local provincial authority and create a favourable investment climate for these players to invest,” Tlebalde told VIR.

In addition to that, clear guidance and assisting investors with completing investment processes and procedures – as well as help in construction, land planning, and other important legal procedures – must also see more focus.

Furthermore, site clearance and infrastructure improvements are required to meet the high demand of a global wave of investments, Tlebalde explained.

Vietnam already has well-documented positive factors making it ripe for companies to enter or expand in. A young, large, cost-competitive, and well-educated workforce; political and economic stability amid a world full of turmoil; a fine strategic location and possession of many major deep seaports in the heart of one of the highest-traffic sea routes; and the country’s large number of free trade agreements all help to put the shine on the potential of Vietnam in the coming decade.

Around 65 per cent of existing electronics players are located in the north, with the rest in the south and a minor proportion in the central provinces.

IZs in the north are home to many large-scale and well-known electronics players such as Canon, Foxconn, Petragon, and Samsung for computer hardware; and LG Display, Intel, Panasonic, and Luxshare for components and parts, among many more.

Those major tenants occupy IZs in Haiphong, Bac Ninh, Bac Giang, Thai Nguyen, and Ha Nam provinces in the north.

Meanwhile in the south, Binh Duong, Ho Chi Minh City and Dong Nai feature the notable existing investment of key players such as Intel, Samsung, Jabil, and Panasonic.

Samsung Vietnam continues its streak as the biggest of the bunch, with the total investment capital of $15.4 billion in the northern provinces and another $2 billion in Saigon High-Tech Park.

Elsewhere, Goertek Technology – the Hong Kong manufacturer of electronic equipment, media networks, and multimedia audio – has chosen WHA Industrial Zone 1 in the central province of Nghe An for its factory.

Regarding the advantages of Vietnam’s IZs, northern provinces in particular feature a strategic location adjacent to China, along with convenient transportation and lower industrial land prices. “All of which act to draw high-tech investments, especially from those who seek to shift their production out of other countries,” Tlebalde told VIR.

Talking to VIR previously, Vo Sy Nhan, co-founder and managing director of Gaw NP Industrial, a ready-built-factory located in Thai Nguyen province, said that movements of giant manufacturers and producers into the Vietnamese market recently will eventually entice many others to support their operations.

“The supportive manufacturers entering the Vietnamese market are mostly small- and medium-sized enterprises who are looking for medium-sized spaces for leasing,” Nhan said.

The critical factor in these potential tenants’ decision-making processes is the proximity to these large companies and access to the logistics system.

As Vietnam is considered a promising alternative for those seeking to relocate their production line from China, many provinces have promoted the establishment of and investment in infrastructure for IZs as well as planned and oriented more IZs for the next few years.

Northern localities – especially Haiphong, Bac Giang, Bac Ninh, Thai Nguyen, and Ha Nam – have aimed to attract more foreign-invested projects with high-tech IZs and investment in infrastructure both inside and outside of IZs to meet the diverse needs of investors in the new era.

The current demand for industrial land is larger than the supply, according to Tlebalde, because of the high foreign investment inflows and production expansion of many reputable players such as Foxconn, Pegatron, and many others, and the increasing international trade via numerous free trade agreements.

Moreover, recently the government has approved and issued master plans to expand more IZs to meet the investment needs in the short- to medium term. Despite the establishment of many new developers in the IZ field, the formation of such zones still needs to pass several layers of the government, which could potentially lengthen the development of many IZ projects.

Nevertheless, big electronics players are now looking for large-sized IZs (with an area of over 1,000 hectares) with integrated infrastructure systems that are still in the development stage.

“Therefore, it is expected that in the short- to medium term, there will be no oversupply of such areas for electronic players,” Tlebalde added. 

537 focal points to provide agricultural products for southern provinces connected

Working Group 970 of the Ministry of Agriculture and Rural Development (MARD) continues to promote the connection, consumption and circulation of agricultural products for southern provinces and cities that are in isolation.

By July 30, there were 537 focal points providing agricultural products and food registered with Working Group 970, including:

123 focal points for vegetables; 127 focal points for fruit; 236 focal points for seafood; 27 focal points for food; and 22 focal points for other items. The representative of the supplier said that the range of goods is very diverse.

On July 30, the Working Group 970 connected with two big companies to buy summer-autumn rice for the provinces of An Giang, Dong Thap and Soc Trang.

In parallel with the promotion of summer-autumn rice harvest, Working Group 970 worked with several large rice-seed-producing enterprises to make statistics and mobilise these enterprises to open drying kilns to meet the shortage of kilns to dry harvested rice.

In addition to rice, Working Group 970 also connected many other commodities such as leafy vegetables, a large amount of giant freshwater shrimp, marine fish, and saltwater shrimp.

The existing problem, which needs to be resolved by Working Group 970 and the Ministry of Agriculture and Rural Development, is that the supply of aquatic products far exceeds the demand. Specifically, there is an excess of pangasius and red tilapia.

In terms of fruit trees, longan produced in large, concentrated areas of 300-500 hectares have begun to be sold because there are businesses to buy. Non-centralized label production areas also face difficulties. Regarding livestock products, some items such as white feathered chicken, quail, and pigeons have shown signs of excess.

Previously, on July 28, Working Group 970 of the Ministry of Agriculture and Rural Development launched a registration information page to connect the supply and demand of agricultural products and goods in the southern provinces. As of noon on July 31, the website https://htx.cooplink.com.vn/ had received about 600 registrations. 

Agricultural supply-demand link supports southern provinces

Following the direction of the Prime Minister, the Ministry of Agriculture and Rural Development issued Decision No. 3149/QD-BNN-VP, dated July 18, 2021, on the establishment of a working group to direct the production and connect the supply and consumption of agricultural products in southern provinces and cities in the context of the Covid-19 epidemic (referred to as Working Group 970) led by Deputy Minister Tran Thanh Nam.

The working group arrived in Ho Chi Minh City to coordinate with the working group of the Ministry of Industry and Trade and the People's Committee in the city and held regular online meetings with the Departments of Agriculture and Rural Development of 20 provinces and cities in the southern region, to grasp the situation of production, consumption, and handle problems.

The production of rice, vegetables and fruits is enough to meet the needs of domestic consumption and export. The output of vegetables in the whole Southern region from now to the end of the year is expected to be around 5.7 million tonnes, enough for consumption demand. 19 provinces each month provide an average of 560,000-600,000 tonnes of vegetables to the market.

Livestock production in the localities is stable and the supply is large. Dong Nai pig farms sell nearly 10,000 pigs every day to the market, of which only 1,300 are consumed within the province (15%), the rest are exported to other provinces and Ho Chi Minh City (85%). The amount of broiler chickens exported by Dong Nai to the market every day counts about 100,000, with only 5% for intra-provincial consumption and 95% for Ho Chi Minh City and other provinces.

According to reports from businesses, as of July 25, the amount of cattle and poultry meat supplied to Ho Chi Minh City was relatively stable. However, consumption demand has decreased compared to before the period of social distancing.

The total annual fishery production of 19 southern provinces and cities is about 5.09 million tonnes. It is estimated that in the last six months of the year, the production of aquatic products in the southern provinces will reach 2.9 million tonnes, with an average monthly production of 483,000 tonnes across the whole region.

In the context of the complicated development of the Covid-19 epidemic, the demand for seafood consumption decreased (because it is mainly used for restaurants, hotels, and collective kitchens). Seafood products are sufficient for consumption and export.

The activities of transporting shrimp seed and aqua feed in the southern provinces have basically gone smoothly. Some traditional markets in Ho Chi Minh City have reopened, and the circulation has gradually been stabilised.

Regarding supply-demand link, there are a total of 388 focal points providing agricultural products and food registered with the Working Group of the Ministry of Agriculture and Rural Development as of July 25, 2021, including: 85 focal points for vegetables; 102 focal points for fruit; 157 focal points for seafood; 24 focal points for food; and 20 focal points for other items. In addition, 12 of 13 Mekong Delta provinces, also through the Directorate of Fisheries, have 148 aquaculture units with many different products that will be harvested in the near future.

Out of a total of 388 focal points registered through the Working Group, the output of goods that can be supplied until July 31, 2021, remains abundant and there are even signs of excess fruit, livestock and aquatic products.

Specifically, the vegetable group had a sudden increase in the yield of purple sweet potatoes and pineapple. Meanwhile, cucumber has signs of oversupply. The fruit group with the highest number of registrations is longan, the supply of clues is over 700 tonnes per day. Longan and banana are showing signs of difficulty in consumption due to the impact of the Covid-19 epidemic, leading to purchasing businesses being unable to access all the growing areas.

Most of the provinces have temporarily completed the system of updating the data of the focal points of agricultural product suppliers; supporting businesses with difficulties in transportation and quick Covid-19 testing, creating favourable conditions for businesses to come to the province to buy goods.

In the past few days, the working group of the Ministry of Agriculture and Rural Development has participated in assisting in handling a number of situations related to difficult cargo trucks when passing through quarantine checkpoints; assisted cooperative groups and cooperatives to complete legal certification to transact with businesses; and established groups to help people harvest agricultural products and deliver them to businesses. In addition, the Working Group has regularly coordinated with localities to quickly solve arising problems.

The People's Committee of Ho Chi Minh City coordinated with the working group of the Ministry of Agriculture and Rural Development and the Ministry of Industry and Trade to take a field visit to the three wholesale markets of Binh Dien, Thu Duc, and Hoc Mon, as well as to research options for opening a number of agricultural product gathering points and temporary agricultural product transhipment stations that ensure food safety and hygiene and meet the requirements of Covid-19 epidemic prevention.

The working group also proposed the Department of Agriculture and Rural Development of 19 provinces and cities that are implementing social distancing to establish working groups to direct production and connect supply and demand for agricultural products; help the provinces remove difficulties in the circulation of agricultural goods and materials; and purchase and harvest agricultural and aquatic products, immediately notify the provinces' steering committee for Covid-19 prevention and control of any arising problems such that they can be promptly and thoroughly resolved.

HCMC’s budget collection rises nearly 20% in H1

HCMC’s budget collection in the first half of 2021 rose 19.75% compared with the same period last year to some VND198.5 trillion (US$8.62 billion), according to data released by the HCMC People’s Committee.

Of the figure, VND131 trillion was from domestic production revenue, more than VND6.8 trillion from crude oil, VND60.2 trillion from imports and exports and more than VND38.11 trillion from the budget revenues of districts.

The HCMC People’s Committee said this is a positive result amid the worsening Covid-19 situation.

HCMC is tasked with collecting a budget of VND365 trillion this year. With VND198.5 trillion in budget collection from January to June, the city met 54.42% of the entire year’s target.

In 2019, the city earned VND410 trillion. However, its budget collection fell sharply to VND371 trillion due to the Covid outbreak in 2020, meeting only 91% of the whole year’s target.

In recent years, the city’s budget revenue has always made up 25-27% of the country’s total.

Despite the coronavirus resurgence, the city reported a 5.46% increase in the gross regional domestic product (GRDP) in the first half of 2021, according to the HCMC Statistics Department.

Of these, the agro-forestry-fishery sector posted a 0.48% decline. Meanwhile, the manufacturing and construction and service sectors and excise taxes less subsidies on products grew 3.58%, 5.86% and 7.08%, and contributed 0.84%, 3.66% and 0.97%, respectively, to the overall economic growth rate.

The GRDP growth in the first half of 2021 was much higher than the 1.02% in the same period last year, but the second lowest growth over the past decade.

The city’s Index of Industrial Production increased 5.9% over the same period last year. Among the four key industries, mechanical engineering and electronics had the highest growth with two digits, followed by food processing and pharmaceutical chemistry.

The total retail sales of goods and services in the first half reached nearly VND541.7 trillion, up 7.3% year-on-year. 

Cat Lai Port faces huge container backlogs, shortage of personnel

Cat Lai Port in HCMC’s Thu Duc City may soon face an interruption in operations as the container backlogs at the port have reached 100% of its capacity and the number of employees at the port have been halved to 250.

According to a report on the operation of the Saigon Newport Corporation, which manages the Cat Lai Port, while HCMC has been practicing social distancing for nearly three weeks, the falling circulation of goods containers at the port has led to an accumulation of goods there, news site VnExpress reported.

The port might soon have to stop receiving vessels while containers are moved out of the port.

Therefore, the Saigon Newport Corporation proposed the General Department of Customs allow it to move imported goods and containers left at the port for more than 90 days to the Tan Cang-Hiep Phuoc Port in Nha Be District, the Tan Cang-Long Binh and Tan Cang-Nhon Trach inland container depots (ICD) in Dong Nai and the Tan Cang-Song Than ICD in Binh Duong. The corporation committed to maintaining the seals and quality of goods during the transportation and storage process.

In addition to the container backlogs, Cai Lai Port is encountering a severe shortage of laborers, while the stay-at-work mode at the port has also failed to bring about the expected results.

Saigon Newport Corporation suggested the HCMC government allow the employees of the Cat Lai Port whose residences have not been locked down to travel to the port for work. The corporation will coordinate with the healthcare agencies to conduct screening tests.

The firm also proposed the city issue passes for the laborers at the port to facilitate their travel, even after 6 p.m.

Those living in Nhon Trach District, Dong Nai Province, should be allowed to travel to the port through the Cat Lai ferry if they have such passes and negative Covid-19 test certificates.

FDI inflows to real estate sector drops

According to a report by the Foreign Investment Agency under the Ministry of Planning and Investment, as of July 20, the real estate market fell into a recession and foreign direct investment (FDI) capital (FDI) inflows to real estate sector dramatically decreased.

Noticeably, the total registered foreign direct investment (FDI) capital reached US$16.7 billion, down by 11 percent against the same period last year. FDI inflows to real estate in seven months just reached nearly $1.2 billion, down by $1.6 billion over the same period.

Specifically, in 18 industries and fields attracting investment, the processing and manufacturing industry leads the way with a total investment capital of over $7.9 billion, accounting for 47 percent of the total registered investment capital meanwhile electricity production and distribution attracted $5.49 billion, accounting for nearly 33 percent of the total registered investment capital.

Particularly in the real estate industry, investment capital decreased sharply due to the absence of large projects.

Workers infected with Covid-19, atabattoirs in HCMC reduce operating capacity

In the past few days, several supermarkets and distribution systems in Ho Chi Minh City have sold less pork because employees in many slaughterhouses in the city have been infected by Covid-

Nguyen Thi Hong Tham, owner of Xuyen A slaughterhouse in Ho Chi Minh City’s Cu Chi District - one of the large private pig slaughterhouses in Ho Chi Minh City, said that before the epidemic, Xuyen A slaughtered about 1,500 pigs per day on average.

When the epidemic broke out, following the direction of the People's Committee of Ho Chi Minh City, the establishment invested over VND100 million in building accommodation and toilets for employees to meet the city’s requirement of Covid-19 prevention task.

However, many employees in the establishment were found to be infected by coronavirus; accordingly, the establishment decided to suspend operations to ensure the safety of workers.

Director To Van Liem Xuan of Thoi Thuong Slaughterhouse in Hoc Mon District said that the factory is still operating with only three out of 13 assembly lines with a capacity of about 1,000 pigs a day. Previously, the factory had called up workers to stay in the slaughterhouse for continued production, but many workers disagreed because of worries about the epidemic.

Vietnam's leading foodstuff processor Vissan detected 43 infection cases of Covid-19, with 357 contacts F1 and 354 contacts F2 from July 17 to 22. Contacts F1 and F2 were isolated at the company’s camp.

The southern metropolis has nine slaughterhouses whereas four establishments were closed due to the coronavirus pandemic. On average, slaughterhouses in Ho Chi Minh City kill about 3,200 pigs per day, down 54.6 percent compared to days before the epidemic.

According to the HCMC Department of Agriculture and Rural Development, the slaughterhouses that have stopped operation due to a Covid-19 spread are urgently developing a plan to reopen in the upcoming time.

However, the slaughterhouse owners expected their workers can receive vaccine jabs as soon as possible because their employees are exposed to the humid slaughtering environment and contact with traders who have brought pigs from provinces and cities. 

Vietnam becomes more attractive in long-term

Vietnam is becoming more attractive during the current global pandemic climate, and therefore, its economic outlook is positive in long term.

Dau Anh Tuan, director of the Legal Department under the Vietnam Chamber of Commerce and Industry (VCCI), gave his view in a conference held on July 29 on the Vietnamese economy prospects in the final months of 2021.

“The pandemic makes many multinationals realize that they should not focus on a certain country, sector or location as an outbreak would disrupt the entire production chain,” Tuan said.

Tuan expected there would be a global shift in investment from one country to another, in which Vietnam would emerge as an attractive destination as it has been a part of a series of free trade agreements (FTAs).

Another factor taken from the pandemic is that it has accelerated the digital transformation process in Vietnam, seen as key for Vietnamese firms to soon catch up with their international peers, Tuan said.

“Vietnam has taken a huge step in digitalization. The local business community with the majority being new, small, and medium-size so they could adopt new technologies easily,” he added.

According to Tuan, the current pandemic has also changed the view of local enterprises on the issue of corporate governance and is expected to compel them to improve efficiency in this regard.

“There could be another natural disaster or pandemic in the future, so higher capability in governance would help them better adapt to risks,” Tuan stated.

Outbreak control key for recovery

On measures to support businesses, Tuan said the majority of government’s aid packages were provided so far on the assumption that the pandemic would end around the second quarter, without contemplating the fourth outbreak as like the current one. Thus, more are expected to come, he stated.

“The pandemic is causing unprecedented difficulties, so supporting packages should also have to be unprecedented,” Tuan suggested.

The government has already mapped out mid-and long-term solutions for economic recovery, but how enterprises could survive until this point is another story, Tuan continued.

“Measures such as vaccine passport should be considered to support enterprises in the immediate future,” he argued.

Tuan stressed the pace of the vaccination program, its fairness, and transparency is the issue that the government should focus on, as he said private firms have not been able to access vaccines as much as state firms at the moment.

Based on the economic performance in the first six months and uncertainties ahead, economist Can Van Luc said the economy could reach a GDP growth of 5.3-5.5% this year, which is much lower than the target set by the National Assembly at 6%.

“There is no way but to soon control the pandemic and speed up the vaccination program,” Luc said.

Luc also expressed concern about the risk of price bubbles with the recent overheating real estate and stock markets.

“From now on until year-end, the global economic recovery would continue to support Vietnam’s exports. On the domestic front, greater efficiency in the vaccination program in the third quarter would be essential for the economy to recover in the fourth,” he concluded. 

Danang calls on businesses for airport planning, Lien Chieu Port subdivisions

Ideas and proposals must be in sync with the planning the Danang International Airport for the 2021-30 period, with a vision to 2050.

Authorities of Danang, the central city of Vietnam, are calling on individuals and businesses to submit proposals on the planning of its airport and Lien Chieu Seaport subdivisions under the 1:2,000 zoning scale.

The move is aimed at realizing the Prime Minister-approved adjustments to the strategic master plan for the major developments in the beach city to 2030, with a vision to 2050.

Nguyen Minh Huy, Director of the city’s Management Board of Traffic Work Investment and Construction Projects, said the city is mobilizing all the resources to garner ideas and proposals that should be in sync with the planning the Danang International Airport for the 2021-30 period, with a vision to 2050, and the detailed planning of Lien Chieu Seaport subdivisions.

The airport subdivisions with a total research area of 1,327ha and a population of 104,000, features specialized functions and would become an important traffic hub of the city associated with the development of the so-called aerotropolis model.

The planning of Lien Chieu Seaport subdivisions is designed to have about 1,285ha with a population of 19,000 by 2030.

It is required that the preliminary planning of the aforementioned subdivisions must be made on the basis of the current map scale of 1:5,000 -1:10,000, with updates on the surrounding projects and the approved Danang Master Plan.

The plan also includes an urban landscape architectural design and a preliminary briefing for the landscape architecture space of the whole area.

The planning must be associated with proposals on management and implementation policies to ensure the investment attraction capacity of the subdivision, according to the city’s Management Board.

Each participant can propose more than one option. The deadline for submission is November 15.

In earlier July, the Danang People's Committee received registrations made by nine domestic and foreign businesses for funding and making ideas on the zoning planning of functional subdivisions.

According to the municipal People’s Committee, the Import-Export Pan Pacific Group (IPPG), BRG Group, and Sun Group will finance the zoning planning of the hillside urban subdivision.

The IPPG will fund the planning of the airport subdivision. The Sun Group will sponsor the planning of the green core center subdivision.

The Vietnamese BRG Group, the Singaporean Sakae Holdings Group, and SSF Investment Co., Ltd will sponsor the reviewing, adjusting, and planning of urban subdivisions in the Hoa Vang District.

The reviewing, adjusting, and zoning of tourist areas in the western ecological subdivision will be implemented by Singapore-based Sakae Holdings Group and SSF Investment Co., Ltd.

T&T Group will finance the formulation of the hi-tech subdivision in association with the planning of adjustments and expansion of the existing Danang Hi-tech Park. This group will also sponsor the planning of the subdivision along the Han River and its eastern bank.

The Keyhinge Toys Vietnam JSC will fund the planning of Lien Chieu Seaport subdivisions in sync with the detailed plan of the Lien Chieu Seaport project.

Source: VNA/VNS/VOV/VIR/SGT/SGGP/Nhan Dan/Hanoitimes 

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