A view of Phú Mỹ Hưng City Centre in HCM City. “City within a city” is a new trend in housing market. — Photo phumyhungcity.com.vn HCM CITY — ‘City within a city’ is likely to become a new trend in the housing market this year, experts predict. Property consultant Jones Lang LaSalle (JLL) explained that the concept refers to large-scale integrated developments. It has grown in popularity recently as developers seek to attract buyers with holistic, well-planned communities within a city as people seek to avoid the chaos created by rapid urbanisation and lagging infrastructure in shared facilities. Nowadays developers taking part in city planning have to carefully understand the fundamentals of city planning to create sustainable value for their large-scale projects, according to Trang Bùi, head of markets, JLL Vietnam. According to JLL, the beauty of any large-scale development is the ability to offer a diverse range of housing types to various groups of potential … [Read more...] about ‘City within a city’ among hottest property market trends: experts
Market demand curve
Customers at a super market in HCM City.— VNA/VNS Photo Manh Linh The resurgence of COVID-19 has hit demand for consumer goods and services in HCM City, with revenues in February falling by 6.4 per cent, according to Government data. The Tet (Lunar New Year) holidays, usually the most lucrative period for the consumer market, were in February. Retail sales of consumer goods and service amounted to VND110.6 trillion (US$4.78 billion), a year-on-year increase of 4.7 per cent, a report by the city Department of Industrial and Trade said. Sales of consumer goods were estimated at VND69.9 trillion ($3.02 billion), a rise of 10.3 per cent compared to the same period last year but a decline of 5.9 per cent from the previous month. Catering, accommodation and travel services took a big hit from the pandemic. The resurgence of outbreaks in the city in late January with lockdown orders in some residential areas and fears of infection discouraged consumption. In the first two … [Read more...] about HCM City Tet consumption slumps
Khanh Hoa province, on the south-central coast, has recently been leading the way in attaining attraction from both domestic and foreign financiers when it comes to the gas and electricity sector. Among the suitors is one from the United States, proposing the Millennium gas power project with a forecast capacity of 14,400MW and 17 million tonnes of storage for liquefied natural gas (LNG) per year. Joining in are Embark United Co., Ltd. and US Quantum Corporation to establish a 6,000MW gas power venture and a port warehouse to receive and process six million tonnes of LNG per year. Japanese investors did also not ignore the opportunity to develop gas power projects in Khanh Hoa, as Sumitomo Corporation proposed to invest in a 3,000MW gas power scheme and a storage system for three million tonnes of LNG per year, while J-Power Co., Ltd. wants to invest in a gas turbine power project with a capacity of 3,000MW. Despite a slightly slower approach, the province is also seeing the … [Read more...] about Full steam ahead for LNG capacities to omit other fossil fuels?
According to data released by the United States International Trade Commission, during the opening 11 months of last year, the US’ imports for wooden furniture endured a decline of 0.6% to US$16.8 billion compared to the same period from 2019. Vietnam remained as the largest supplier of wooden furniture to the United States throughout the reviewed period, with the export turnover reaching US$6.26 billion, a rise of 30.9% on-year. The proportion of imports from the country accounts for 37.2% of the total import value, up 9% compared to last year’s corresponding period. Most notably, Vietnam is the largest market for bedroom furniture for the US, making up 49.7% of the US’ total import value, followed by Malaysia, China, and Indonesia. Nguyen Liem, chairman of Lam Viet Joint Stock Company, attributed this increase in US demand for wooden furniture to the impact of the novel coronavirus (COVID-19) pandemic as it has forced many Americans to remain indoors and focus on activities … [Read more...] about Local wood industry to capitalise on export opportunities to US
Vietnamese and Japanese firms receive support to expand operations The Japan Trade Promotion Organisation (JETRO) will host an online scheme on March 3 in Hanoi aimed at connecting Japanese businesses in the field of manufacturing and production, known as Monozukuri in Japanese term to facilitate co-operation amid the negative impacts caused the COVID-19 pandemic. According to a representative from the JETRO, the business matching programme will see the participation of 40 Japanese companies for the purpose of accelerating the development of the country’s supporting industry. At present, the scheme has received registration for 50 negotiations from enterprises from Japan, Vietnam, and Taiwan (China), whilst it is still receiving registration from businesses wishing to purchase and seek Japanese suppliers in the Monozukuri field until March 1. A recent survey conducted by the JETRO unveiled that Japanese businesses remain keen on the Vietnamese market as the … [Read more...] about VIETNAM BUSINESS NEWS MARCH 5