Weekly News 29.6.2020 – 3.7.2020

Shilla Monogram Quangnam Danang welcomes first guests on opening day

Officially launched on June 26, Shilla Monogram Quangnam Danang – a brand-new lifestyle resort under the reputable Korean group The Shilla – has welcome its very first guests with warm hospitality. Shilla Monogram Quangnam Danang is a newly-established property situated on a picturesque and tranquil beach named Non Nuoc between Danang city and the UNESCO World Heritage town of Hoi An in Quang Nam province in Vietnam’s central region.

For more details, please kindly visit:

https://www.vir.com.vn/shilla-monogram-quangnam-danang-welcomes-first-guests-on-opening-day-77369.html

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Manulife is emerging as the leading bidder for Aviva Vietnam Insurer Unit

The Canadian insurer is weighing a deal that would include a so-called bancassurance agreement with Aviva’s local partner Vietnam Joint Stock Commercial Bank for Industry & Trade, or VietinBank as it is known, to sell insurance products through the state-owned lender’s branches, the people said. A deal could be valued at several hundred million dollars, the people said, asking not to be identified because the deliberations are private.

For more details, please kindly visit:

https://vietnaminsider.vn/manulife-is-emerging-as-the-leading-bidder-for-aviva-vietnam-insurer-unit/

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Asia Pacific Real Estate: Still Good Value In A Changed World

In the second and final part of the Asia Pacific Real Estate: Still Good Value In A Changed World report series, we examine prospects for rent growth in the various APAC property sectors, how they may affect property yields, and highlight preferred sectors. As prospects for income growth vary across sectors, it is imperative for investors to better understand the different risk/return profiles each asset sector presents.

For more details, please kindly visit:

https://www2.colliers.com/en-VN/Research/Asia-pacific-real-estate-still-good-value-in-a-changed-world-Part-2

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Rising lease rates could discourage relocation spirit

An early economic recovery from the global health crisis would bring Vietnam tremendous opportunities to mobilise foreign investment by welcoming relocating multinationals. However, increasing land lease costs could dampen enthusiasm.

For more details, please kindly visit:

https://www.vir.com.vn/rising-lease-rates-could-discourage-relocation-spirit-77404.html

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M&A deals could help businesses restructure amid pandemic

Merger and acquisition (M&A) deals will likely increase post-pandemic, which industry insiders see as a chance for enterprises to restructure their operations to be more viable. Data from the Foreign Investment Agency under the Ministry of Planning and Investment showed Vietnam attracted nearly 14 billion USD worth of foreign capital in the first five months of this year, down 17 percent year-on-year. This figure included newly-registered capital, adjusted capital and capital contributions to buy equity.

For more details, please kindly visit:

https://english.vov.vn/economy/ma-deals-could-help-businesses-restructure-amid-pandemic-415479.vov

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Foxconn plans to splash out over $325mn on affordable housing for workers in Vietnam

Taiwan’s Foxconn Technology Group is waiting for authorities’ approval for its plan to spend more than US$325 million implementing three social housing projects for its workers in Vietnam. The projects will be developed in Bac Giang, Bac Ninh, and Vinh Phuc, all located in the northern region of the Southeast Asian country, according to Foxconn’s proposal submitted to the Government Office, the Ministry of Construction, and the Ministry of Planning and Investment.

For more details, please kindly visit:

https://tuoitrenews.vn/news/business/20200630/foxconn-plans-to-splash-out-over-325mn-on-affordable-housing-for-workers-in-vietnam/55343.html

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Vinh Phuc invests technical infrastructure to lure investors

Vinh Phuc province is making an effort to complete technical infrastructure while simultaneously accelerating investment promotion programmes in order to attract potential investors, especially foreign-invested enterprises after the pandemic.

For more details, please kindly visit:

https://www.vir.com.vn/vinh-phuc-invests-technical-infrastructure-to-lure-investors-77345.html

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Da Nang approves APEC sculpture park expansion plan

Chairman of the Da Nang municipal People’s Committee Huynh Duc Tho has given the greenlight to the expansion of the APEC sculpture park, serving demand for leisure of locals and tourists. Accordingly, located next to the current park, the expansion area covers 6,668sq.m in Hai Chau district’s Binh Hien ward.

For more details, please kindly visit:

https://english.vov.vn/culture/da-nang-approves-apec-sculpture-park-expansion-plan-415568.vov

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Fitch Solutions revises up 2020 real GDP growth forecast for Vietnam

Vietnamese economy’s resilience, the government’s capable handling of the pandemic, and it being a beneficiary of supply chain relocation could help the country rebound quicker versus the region. Fitch Solutions, a subsidiary of Fitch Group, has revised up its 2020 real GDP growth forecast for Vietnam to 3% from 2.8% previously.

For more details, please kindly visit:

https://vietnaminsider.vn/fitch-solutions-revises-up-2020-real-gdp-growth-forecast-for-vietnam/

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China maintains position as largest Vietnamese import market

Despite the first half of the year seeing Vietnamese export turnover to China only reaching a mere US$34.8 billion, equal to a slight fall of 2.2% from the same period last year, the northern neighbour retained its place as the country’s largest import market, according to the General Statistics Office (GSO). 

For more details, please kindly visit:

https://english.vov.vn/economy/china-maintains-position-as-largest-vietnamese-import-market-415524.vov