Weekly News 17.8.2020 – 21.8.2020

Foreigners own 2 pct of Vietnam housing supply: report

Foreigners own around 16,000 apartments in Vietnam, or 2 percent of the total housing supply, and this has not affected local people's opportunity to buy houses, a report says. From 2015 to 2020, 17 major real estate developers in Vietnam have sold 12,335 property units to foreigners, 81 percent of them in Ho Chi Minh City, according to a report by the Ho Chi Minh City Real Estate Association (HoREA).

For more details, please kindly visit:

https://e.vnexpress.net/news/business/data-speaks/foreigners-own-2-pct-of-vietnam-housing-supply-report-4145981.html

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Taxes lost from e-commerce sector during COVID-19

The COVID-19 pandemic has become a golden opportunity for e-commerce trading floors, as well as social networks such as Facebook. However, the country has lost billions of dong in tax revenue due to e-commerce as there are no specific regulations on the sector.

For more details, please kindly visit:

https://vietnamnews.vn/economy/771148/taxes-lost-from-e-commerce-sector-during-covid-19.html

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How Vietnam’s Ho Chi Minh city will turn this urban area into a Global Financial Hub?

HCM City’s District 2 will become a financial centre and an important part of a planned “innovative urban area” in the eastern part of the city, Nguyen Thien Nhan, general secretary of the HCM City Party Committee, has said. Speaking at the district’s 6th Party Congress for the 2020-2025 term held on Tuesday (August 11), Nhan praised the district’s significant achievements in the previous term.

For more details, please kindly visit:

https://vietnaminsider.vn/how-vietnams-ho-chi-minh-city-will-turn-this-urban-area-into-a-global-financial-hub/

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Vsmart kicks Xiaomi out of top 5 smartphone brands in Q2

The Vietnamese brand ranked fourth in terms of smartphone sales in the second quarter of 2020. Vsmart, a Vietnamese smartphone brand, kicked Xiaomi from the third place in the first quarter (Q1) this year out of top five smartphone brands in terms of sales volume in Q2 in Vietnam, according to the latest report on the smartphone market in Q2 2020 by market research firm Canalys.

For more details, please kindly visit:

http://hanoitimes.vn/vsmart-kicks-xiaomi-out-of-top-5-smartphone-brands-in-q2-313868.html

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Deutsche Bank names Huynh Buu Quang as its Chief Country Officer Vietnam

Deutsche Bank has a long track record in providing corporate finance and advisory solutions to Vietnamese corporates. Deutsche Bank today announced the appointment of Vietnamese banker, Huynh Buu Quang, as Acting Chief Country Officer (CCO) Vietnam. The appointment is subject to State Bank of Vietnam final approval, according to the bank’s statement.

For more details, please kindly visit:

https://vietnaminsider.vn/deutsche-bank-names-huynh-buu-quang-as-its-chief-country-officer-vietnam/

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Seafood exports increase after EVFTA comes into effect

The Việt Nam Association of Seafood Exporters and Producers (VASEP) has said that seafood exports to Europe have seen many positive signs since the EU-Việt Nam Free Trade Agreement (EVFTA) came into effect at the beginning of this month.

For more details, please kindly visit:

https://vietnamnews.vn/economy/771257/seafood-exports-increase-after-evfta-comes-into-effect.html

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Vietnam gov’t prioritizes transparency with launch of National Reporting System

E-government is an inevitable trend and a right direction towards a prosperous Vietnam, stated Prime Minister Nguyen Xuan Phuc. The launch of the National Reporting System and the Government Operations Center marked a significant step towards the building of Vietnam’s government of integrity, transparency and for benefits of the people as well as enterprises, according to Prime Minister Nguyen Xuan Phuc.

For more details, please kindly visit:

http://hanoitimes.vn/vietnam-govt-prioritizes-transparency-with-launch-of-national-reporting-system-313916.html

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HCM City landlords have little choice but to cut rents as 2nd wave of COVID-19 hits

Nguyen Thi Minh has been forced to reduce the rents for her two apartments in HCM City’s District 2 twice this year from US$1,300 a month each to $900 to keep her tenants. During the first COVID-19 wave, when the entire country was under social distancing in April, she first reduced the rents to $1,100.

For more details, please kindly visit:

https://www.vir.com.vn/hcm-city-landlords-have-little-choice-but-to-cut-rents-as-2nd-wave-of-covid-19-hits-78652.html

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Australian enterprise to invest US$350 million in Vietnamese logistics sector

On August 19, Sydney-based logistics developer Logos announced its entry into Vietnam through the Logos Vietnam Logistics Venture, along with a global investor, to establish an initial portfolio of approximately US$350 million, aimed at developing modern and high-quality logistics facilities across the key markets of HCMC, Hanoi and Danang.

For more details, please kindly visit:

https://english.thesaigontimes.vn/78135/australian-enterprise-to-invest-us$350-million-in-vietnamese-logistics-sector.html

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Vietnam-India: New partnership in supply chain

Covid-19 has navigated the restructure in the global supply chains and initiated new opportunities for the partnership, and Vietnam and India are no exception. The global health crisis has disrupted established supply chains for manufacturers based in both India and Vietnam, opening up opportunities for the two countries’ businesses to explore alternative options.

For more details, please kindly visit:

http://hanoitimes.vn/vietnam-india-new-partnership-in-supply-chain-313919.html