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Domestic travel resumed in a number of provinces/cities as a result of the country’s effective Covid-19 containment is a major boost for sales figure. The number of cars sold in Vietnam in March surged by 127% against the previous month to nearly 31,000 units, according to data released monthly by the Vietnam Automobile Manufacturers’ Association (VAMA). The sales figure for the first quarter rose by 36% year-on-year to 70,952. Source: VAMA The volume included over 21,000 passenger cars, representing a whopping increase of 119% month-on-month, while the remaining were commercial cars (9,277), and special-purpose vehicles (619). As many as nearly 17,200 locally assembled cars were sold in the period, up 99% against the previous month, and the figure of imported cars rose by 177% to around 13,800 units. Overall, the sales figure for the first quarter rose by 36% year-on-year to 70,952, in which both domestic- and imported cars recorded positive growth … [Read more...] about Vietnam car sales surge 127% in March

Ube Construction Materials, a Tokyo-based wholly owned unit of chemical giant Ube Industries Ltd., said it owns a 51 percent stake in the new local arm, Ube CT Construction Materials Vietnam Co., which has an initial capital of 753,100 USD. The rest of the stake is held by two other Japanese companies - 37.5 percent by T. Chatani & Co., a subsidiary of chemical goods trading house OG Corp., and 11.5 percent by Koatsu Gas Kogyo Co., a manufacturer of high-pressure gas. The waterproof materials market in Vietnam is expected to expand in line with the country's economic growth, an Ube Industries spokesman told NNA, commenting on the establishment of the new local unit as the Ube group's first business base in Vietnam. Ube Construction Materials was founded in 2015 and plays a central role in the group's construction materials business. Source: VNA … [Read more...] about Japan’s Ube Construction Materials forms sales unit in Vietnam

Monarchy is among the projects that are available for foreign buyers. (Photo: thanhnien.vn) Da Nang – The Construction Department of central Da Nang city has listed 17 commercial housing projects in which foreign organisations and individuals can buy units. The projects include Blooming Tower, Golden Square complex, Quang Nguyen Apartment complex, Thuy Tu urban area, Harmony Tower, and Da Nang FPT Technological Urban Area. The city also disallows foreigners from owning property in three projects, namely F-Home Apartment complex, Da Nang Diamond Tower, and IndoChina Riverside Tower. The department suggested the Department of Natural Resources and Environment and relevant agencies review the grant of licences to foreign organisations and individuals in projects that are off-limits to foreign buyers. VNA … [Read more...] about Da Nang allows foreigners to buy houses in 17 projects

Every Cold Foods Festival (third day of the third lunar month), Hanoians line up to buy banh chay (chay cake) at a well-known cake store in Hanoi. During the Cold Foods Festival, this year on April 14, Vietnamese families usually prepare traditional floating cakes, ‘banh troi’ (made of bits of brown sugar wrapped in glutinous rice paste and cooked by scalding in boiling water) and ‘banh chay’ (glutinous rice balls with mung beans filling, served in fragrant sweet soup) to offer to their ancestors. Along with modern life, urban people are busier and many families no longer make banh troi and banh chay themselves. Instead, they buy the cakes directly from food stores, wet markets or even order online. In Hanoi, on this day a traditional cake-making store on Ngo Thi Nham Street is always full of customers who come to buy banh troi and banh chay. Customers are willing to line up and wait for half an hour to buy cakes from this famous store, which has been there for decades. … [Read more...] about One a year, sales of famous restaurant’s traditional cakes cause traffic jams at Hanoi crossroads

Da Nang allows foreigners to buy houses in 17 projects The Construction Department of central Da Nang city has listed 17 commercial housing projects in which foreign organisations and individuals can buy units. The projects include Blooming Tower, Golden Square complex, Quang Nguyen Apartment complex, Thuy Tu urban area, Harmony Tower, and Da Nang FPT Technological Urban Area. The city also disallows foreigners from owning property in three projects, namely F-Home Apartment complex, Da Nang Diamond Tower, and IndoChina Riverside Tower. The department suggested the Department of Natural Resources and Environment and relevant agencies review the grant of licences to foreign organisations and individuals in projects that are off-limits to foreign buyers./. Coffee exports fall by over 11 percent in Q1 Coffee exports earned 771 million USD for Vietnam in the first quarter of 2021 In March alone, 145,000 tonnes of coffee were shipped abroad, bringing home 275 … [Read more...] about VIETNAM BUSINESS NEWS APRIL 14