In the first quarter of 2020, commencement of two key infrastructure projects worth VND 10,000 billion

In the first quarter of 2020, commencement of two key infrastructure projects worth VND 10,000 billion

Prime Minister Nguyen Xuan Phuc requested to ensure the progress to start two projects of My Thuan 2 Bridge and My Thuan - Can Tho Expressway in Q1/2020.


Specifically, for My Thuan 2 Bridge, the Prime Minister requested the Ministry of Transport to urgently implement procedures for investment in main bridge components and components, ensuring commencement in the first quarter of 2020, striving to complete, put the project into use synchronously with Trung Luong - My Thuan highway.


Reportedly, the construction project of My Thuan 2 Bridge has the starting point at Km101 + 126 at An Thai Trung intersection in Cai Be district (Tien Giang province), in connection with Trung Luong - My Thuan Expressway Project. The last point is at Km107 + 740 at the intersection of National Highway 80 in the city. Vinh Long (Vinh Long province), in conjunction with My Thuan - Can Tho Expressway Construction Investment Project. The total length of the project is 6.61km, in which the bridge is 1,906 km long, 6 lanes, 25m wide, in which, the main span is a two-sided cable-stayed cable-stayed bridge with a gauge of 300m wide, needle piers outline.


My Thuan 2 Bridge construction project has a total capital of VND 5.003 billion.


For My Thuan - Can Tho expressway project, the Prime Minister requested the Ministry of Transport to urgently implement procedures to adjust the project in accordance with the law; At the same time, organizing bidding to select investors to implement the project, ensuring the commencement of the project in the first quarter of 2020.


According to the feasibility study report of My Thuan - Can Tho Expressway Project, which was approved by the Ministry of Transport on August 28, 2017, the My Thuan - Can Tho Expressway is 23.5 km long, passing through the territory of the districts: Binh Tan, Long Ho and Tam Binh; Binh Minh town; Tp. Vinh Long (Vinh Long province) and Chau Thanh district (Dong Thap province). The total project investment is VND 5,370 billion, the state is supported by the right to collect tolls from Ho Chi Minh City - Trung Luong from September 2028; charging time is 22 years.


However, the Thang Long Project Management Board then requested the Ministry of Transport to appraise and approve the Feasibility Study Report to adjust the project of investment and construction of My Thuan - Can Tho Expressway, Phase I in the form of PPP, type of BOT contract.


Accordingly, the total project investment decreased to VND 4,919 billion. The project will also change the structure of investment capital when the state capital participating in the site clearance cost support is 932.2 billion dong, the rest is the investor's equity (797.5 billion dong) and commercial loans (VND 3,9987.5 billion).


According to Nguyen Van

Vietnam increased by 10 places in terms of competitiveness

Vietnam increased by 10 places in terms of competitiveness

According to the "Global Competitiveness Report 2019", the World Economic Forum (WEF) assessed Vietnam as the 67th most competitive economy in the world in 2019, strongly attracting domestic investment apart from being a regional commercial center.


The WEF report is published annually, since 1979. The WEF ranks economies through 103 criteria divided into 12 pillars. These pillars are divided into four main groups, including Favorable Environment, Markets, Human Resources and Innovative Breakthrough Ecosystems.


WEF ranked Vietnam as the 67th most competitive economy in the world in 2019, with 61.5 points - increasing by 10 steps and increasing by 3.5 points compared to 2018. WEF considers that Vietnam is strongly attracting foreign investment to become a regional trade center.


In terms of market size, Vietnam is ranked quite high, ranking 26/141 ranked countries. The remaining indicators range from 41 to 93.


Vietnam is rated as one of the lowest terrorist risk groups in the world and the world's most stable inflation. Both of these categories Vietnam achieved a full score of 100 points.


Among the 12 pillars of WEF, Vietnam was rated the highest in the Health pillar, with 81 points, ranked 71st. The lowest was Creative Capacity, only 37 points, ranked 76th.


Vietnam is considered the country with the highest increase in the world this year.


According to Dinh Vu

Whether to protect the interests of small shareholders or not?

Whether to protect the interests of small shareholders or not?

The Enterprise Law (amended) will expand the object of having access to in-depth information of enterprises, participate in the operation process of enterprises to protect the interests of small shareholders.


At the seminar "Comments on the Investment and Enterprises bill (Revised)" organized by the Investor Magazine, Dr. Phan Duc Hieu, Deputy Director of the Central Institute for Economic Management (MPI) - the agency assigned to comment and amend the Enterprise Law - shared about the important changes of the Enterprise Law (amended) is coming soon.


Mr. Hieu said, the Law on Enterprises was born in 2014 has created a breakthrough in establishing new businesses and expanding business activities. As of 2018, the whole country had 131,275 newly established enterprises with a registered capital of up to 1,478 million billion dong. This figure is 1.75 times higher than the number of newly established enterprises and 3.4 times of the newly registered capital compared to 2014 when the Enterprise Law has not yet taken effect.


However, after four years of application, the Enterprise Law also revealed many shortcomings, no longer suitable with reality. Some contents need to be completed to improve the quality of corporate governance organization according to international practices, increase the safety level for shareholders and investors to improve the quality of the business environment.


Sharing about the major changes in the Enterprise Law, Mr. Hieu said there were five major changes.


The first is to simplify procedures for market entry. Secondly, improving the legal framework to protect investors. Thirdly, improve the efficiency of governance and state-owned enterprises' operation. The fourth is to improve the legal framework for household businesses. Finally, it is more convenient to reorganize the business.


In particular, it is worth noting that the amended Enterprise Law may abolish and change some regulations related to shareholder rights, expand the object of shareholders to access information about the company's activities, and to participate important decisions of the company to protect the interests of small shareholders.


For example, Clause 2, Article 114 and Clause 4, Article 149 of the Law on Enterprises require shareholders to own at least 10% of the shares and within six consecutive months to have the right to nominate candidates to the Board of Directors. treatment.


According to Mr. Hieu, this requirement is too high compared to reality. Therefore, the amended Enterprise Law can eliminate the requirement of owning for six consecutive months and shareholders only need to own at least 1% of the shares to have the above rights.


“Currently, people do not trust the head of the business, so changing the rules to protect the interests of small shareholders is necessary to raise capital in the population. Along with that, the change of regulations will help us stay ahead of the regional countries to protect the interests of small shareholders”, Mr. Hieu said.


There are many mixed opinions


Around the amendment of the above provisions in the Enterprise Law, there are many conflicting opinions


On the business side, the representative of Pacific Group, Mr. Phan Le Hoang said that it is appropriate to remove the condition of owning shares for a continuous period of at least six months, because he is a shareholder of the company. of course shareholders must immediately exercise their rights regardless of old or new shareholders.


However, according to Mr. Hoang, the regulations on reducing the ownership ratio of shareholders or groups of shareholders from 10% to 1% are inappropriate, failing to ensure a competitive environment for businesses.


“Protecting the interests of small shareholders is the right thing to do, but to stabilize the company, there must still be a certain percentage to vote by the majority, to ensure the rights and responsibilities of major shareholders. Therefore, the ownership rate of 10% of the total number of shareholders or a group of shareholders or more shall be maintained according to the old regulations” said the representative of Pacific Group.


Sharing views on this issue, Mr. Nguyen Thanh Viet, President of Intracom, said that financial transparency and reporting information to shareholders is very important for businesses. However, corporate governance, protecting business secrets is also very important.


According to Mr. Viet, reducing the ownership rate of shareholders who have the right to access information and intervene in the operations of the enterprise may cause competitors to buy shares and make it difficult for businesses.


"A 1% stake in an enterprise is not large and it may make it difficult for businesses, along with the cost of corporate governance will increase" Viet said.


Agreeing with the drafting of the amended Enterprise Law, Mr. Dau Anh Tuan, head of the Legal Department, VCCI said that in corporate governance, the current rights of small shareholders who are less interested. According to OECD recommendations, it is required to protect shareholders, including small shareholders. In recent years, we have been ranked very low in protecting shareholder rights according to the World Bank (WB).


According to Mr. Tuan, protecting the rights of small shareholders will of course increase administrative costs. Japan also has consequences, like harassment by shareholders. However, this phenomenon is not common in Vietnam.


"It is appropriate to lower the percentage of shares to have the right to intervene in the operation of the business, but the ratio should be considered", Mr. Tuan said.


Mr. Tuan said that 1% is a relatively good practice to encourage people to invest in business. “When shareholders have 1%, their interests have also been attached to the business. And the decline in this trend will make the ranking of minority shareholders' protection in Vietnam soar as assessed by the World Bank”.


According to Dinh Vu

The main research and development to the West - Northwest

The main research and development to the West - Northwest

Along with signing the construction of the Ho Chi Minh City - Moc Bai (Tay Ninh) highway, Ho Chi Minh City is urgently adjusting the Northwest urban area planning (Cu Chi) to facilitate development for this area.


National highway 22 through Cu Chi town, Ho Chi Minh City. Photo: Thanh Tri


According to Mr. Nguyen Thanh Toan, Deputy Director of Ho Chi Minh City Department of Planning and Technology, in the general adjustment plan of Ho Chi Minh City approved by the Prime Minister in 2010, the Northwestern Urban Area is determined to be a secondary development direction. Currently, Ho Chi Minh City is organizing the adjustment of this master plan, and the Prime Minister also issued Official Letter No. 136/TTg-CN on February 1, 1919, approving the policy for adjustments in accordance with the practical situation and socio-economic development requirements of the city.


Based on the high terrain and good geology in the Northwest region of the city, which is convenient for urban development, the city has a policy of researching and considering development priority directions to the West-Northwest of the city. This is especially appropriate in the context of climate change, sea level rise, increasingly negatively affecting the city.


Also according to Mr. Nguyen Thanh Toan, the spirit of adjusting the planning of the Northwest urban area will focus on refurbishing in existing residential areas, avoiding great disturbance to the life of the community. In urban reconstruction areas (residential areas which must be relocated to build new urban functions according to planning) priority should be given to on-site resettlement. Compensation policy will be strictly implemented in accordance with the policy of the Party and the Government, "people must have a life equal to or better than the old place of residence" while encouraging people to agree to cooperate and invest in projects. reorganizing urban areas to effectively exploit the land use and gradually change the face of the city.


New residential areas will be modernly planned with full functionality, ensuring synchronous social and technical infrastructure to attract investors as well as ensure the sustainable development of urban areas.


According to Tam Duc

6,600 newly established real estate businesses

6,600 newly established real estate businesses

In the first 10 months of 2019, the real estate sector had 6,600 newly established real estate businesses, accounting for 5.8% of the total number of newly established businesses in all fields.


According to data from the General Statistics Office in October and October 10, 2019, in the first 10 months of 2019, there were 114,400 newly registered enterprises in the country, increasing 4.4% compared to the previous year with the same period in 2018.


In particular, the field of Real Estate Business had 6,600 newly registered businesses, accounting for 5.8% of the number of newly established businesses and increasing 15.4% over the same period last year.


In the first 10 months of 2019, the whole country had 34,900 enterprises returning to operation, increasing 24.8% over the same period in 2018, bringing the total number of newly established enterprises and businesses back to operation in the 10 months of 2019, increasing to 149,300 enterprises, on average, more than 14,900 new businesses are established each month and come back to operation.


According to Nguyen Van

Why do Korean investors prefer Vietnamese real estate?

Why do Korean investors prefer Vietnamese real estate?

Since the Housing Law has been relaxed, allowing foreigners to buy houses in Vietnam, Vietnam's real estate market has become an attractive investment environment for international investors. In particular, Korean investors are putting Vietnamese real estate on "sight" in the context of the country's real estate market showing signs of hot development.


According to statistics on attracting foreign investment capital just announced by the Foreign Investment Agency - Ministry of Planning and Investment, in the first nine months of 2019, 109 countries and territories have investment projects in Vietnam. In particular, South Korea ranked second with a total investment of 4.62 billion USD.


In terms of capital contribution and share purchase, Korea is one of the two countries with the largest number of capital contributions and share purchases by Vietnamese enterprises in the past nine months, with 1,267 times of capital contribution and share purchase. Investors from this country also have a high number of new projects and newly registered capital into Vietnam, with 819 projects reaching US $2 billion.


The report of CBRE Vietnam also revealed that in the third quarter of 2019, the demand for apartments from foreign investors is on the rise in Vietnam. In particular, the number of South Korean tourists, Hong Kong, Taiwan accounts for about 85% of foreign visitors to buy houses in Vietnam.


According to Savills Vietnam, over time, Korean customers have shown strong interest in luxury apartments in Ho Chi Minh City, the financial center of Vietnam.


Nguyen Khanh Duy, director of the housing business at Savills Ho Chi Minh City, said that the attractiveness of Vietnam's real estate market is explained by a number of factors such as attractive price, high profit potential, high quality products with the participation of reputable developers and the 2015 Housing Law are relaxed to create conditions for foreigners to buy houses in Vietnam.


"For the same amount, instead of investing an apartment in their home country, they can buy three apartments in Vietnam." Artwork image


In addition, the price of apartments in the city. HCMC and Hanoi are generally lower than regional cities in the region such as, though growth rates are much stronger. New house prices in the central area of Ho Chi Minh City currently range from 5,500 to 6,500 USD/m2, much lower than the prices in Hong Kong. Meanwhile, rental returns of more than 5% show that this is an attractive investment compared to other markets in the region.


Mr. Duong Duc Hien, Director of Housing Sales of Savills Hanoi, analyzed that in the past 14 years, Vietnam's real estate market has made great strides. Thinking about architectural ideas compared to 10 years ago was much better.


“If previous projects lacked in utilities, living space, and quality of life were not high, it has now been improved and improved. On the other hand, the quality of the project, hand-over conditions, and technical infrastructure are also guaranteed compared to the past” Mr. Hien assessed.


According to Mr. Hien, after Vietnam joined APEC, the market has recorded a large wave of foreign investment, including customers from Korea, China, and Japan into Vietnam. Private investors from these countries have begun to "target" the field of real estate.


Talking about the attractiveness of Vietnam's real estate market to foreign investors, Mr. Hien said: “Many customers have shared with Savills that, with the same amount of money, instead of investing an apartment in Their country, they can buy three apartments in Vietnam. As such, they can diversify their portfolios. Not to mention, the rental profit in Vietnam is quite good”.


“For foreign investors, the annual rental rate on a pro rata basis if the threshold of 4-5% is reached is successful. Especially for countries with stable economic growth” Mr. Hien said.


Discussing this issue, Ms. Nguyen Hoai An, Director of CBRE Hanoi Consultancy and Research Department, said that the trend of foreigners, especially Koreans buying houses in Vietnam, appeared in the range of 4-5. Last year and this trend continued in 2019 in both Hanoi and Ho Chi Minh City.


In the first 9 months of 2019, a number of other countries also increased interest in buying houses in Hanoi such as Taiwan, Hong Kong and Singapore.


According to An, the increasing trend of buying houses from foreign visitors in Vietnam reflects the potential of the real estate market in the context of Vietnam's economy showing signs of positive growth. Besides, compared with the price of houses in neighboring countries, such as South Korea, housing prices in Vietnam in general and Hanoi in particular are at attractive levels.


For example, the average unit price (near high-end) in Vietnam is only about 2,000 - 4,000 USD/m2. Meanwhile, this price in Korea can be up to 15,000 - 20,000 USD/m2. This is also the basis for expectation in the coming years, Vietnam's real estate prices may increase.


However, the expert also said that the development of real estate segment for foreigners also includes difficult and favorable factors.


The most obvious advantage is that many foreigners are attracted to the potential of Vietnam's real estate market.


Regarding difficulties, according to Ms. An, to serve and meet the requirements of foreigners requires solving many factors such as the foreign language ability of the seller, the ability to analyze which products are suitable for the market. hospitality of foreigners as well as the management of houses for foreigners when they are not in Vietnam.


According to Tam An

10 months: Vietnam saw a trade surplus of over 7 billion USD

10 months: Vietnam saw a trade surplus of over 7 billion USD

According to the General Statistics Office, the total import-export turnover in the past 10 months is estimated at 427.05 billion USD. In which, export turnover is 217.05 billion USD, import turnover is 210 billion USD. Trade balance of trade surplus was 7.05 billion USD.


Specifically, in the first 10 months of 2019, export turnover was estimated at US $ 217.05 billion, increasing 7.4% over the same period in 2018. Of which, the domestic economic sector reached 66.63 billion USD, FDI sector reached 150.42 billion USD.


Some products have large export turnover such as phones and components; electronics, computers and components; textiles; footwear; machinery, tools, spare parts,...


The United States continues to be the largest export market of Vietnam with a turnover of US $ 49.9 billion, up 26.6% over the same period last year; followed by EU market of 34.2 billion USD; China 32.5 billion USD; ASEAN market 21.3 billion USD,...


Regarding imports, the commodity turnover was estimated to reach 210 billion USD, increasing 7.8% over the same period in 2018, of which the domestic economic sector reached 87.9 billion USD; FDI sector reached 122.1 billion USD.


In 10 months, there were some imported goods with high turnover such as electronics, computers and components; machinery, equipment, tools and spare parts; Phones and components; steels,…


China is still the largest import market of Vietnam with a turnover of 62 billion USD, increasing 16.1% over the same period last year; followed by South Korea market with 39.4 billion USD, ASEAN market with 26.4 billion USD; Japan reached 16 billion USD,...

According to Chau An

Four international real estate giants meet Vietnamese customers

Four international real estate giants meet Vietnamese customers

Representatives of four international real estate groups will meet Vietnamese investors to share business opportunities in Asian and European countries.


The event is scheduled to take place at 9:30 on October 13 at Park Hyatt, Ho Chi Minh City. At the meeting, representatives of leading real estate groups in Asia and Europe will also share foreign investment trends and strategies for Vietnamese customers.


Catching a trend can help investors take advantage of demand, cash flow, liquidity and policy. The valuable investment in addition to making profits also demonstrates the vision of added value such as business opportunities, immigration, and prosperity and happiness for future generations.


At the event, representatives of Lendlease, Sansiri, Euroterra Capital and Pafilia groups will provide details of trends as well as real estate investment opportunities. In-depth information on the "Gold Visa" investment program and becoming a European citizen will also be presented in a comprehensive manner.


Lendlease - reputation from the Sydney Opera House


Typical corporate projects based in Australia include the Sydney Opera House, the Petronas Twin Towers (Kuala Lumpur, Malaysia), the renovation project of the British National Theater or the Fine Arts Museum in London. Lendlease has offices in Europe, the Americas and Asia. The group has been listed on the Australian Stock Exchange since 1962.


Sydney Opera House.


In Asia, Lendlease has two large-scale projects, TRX Quarter (Malaysia) and Paya Lebar Quarter (Singapore). In addition, the group has been successful in China and Japan.


Sansiri and large scale projects in Thailand


Established in 1984, Sansiri is one of Thailand's largest real estate corporations and has been listed on the stock market since 1996. Sansiri has built its reputation through resort villas and office buildings. rooms and apartments.


In August 2019, Sansiri announced to raise its shareholding limit from 37.26% to 59% at Standard International Holdings, which owns the famous hotel brand The Standard in the US. This joint venture has planned to open a series of hotels in Thailand and many other big cities such as Milan (Italy), Paris, Bordeaux (France) or Melbourne (Australia) in the next 5 years.


Perspective of high-class apartment project XT Huaikhwang of Sansiri in Bangkok, Thailand.


The group is also interested in social responsibility, establishing a specialized fund called Social Change, in cooperation with UNICEF Thailand to increase awareness about children's rights in the country.


Euroterra Capital - the leading reputation in Europe


Based in London (UK), Euroterra Capital is a leading real estate developer in Europe and the world, with a key market in Greece. In recent years, Euroterra Capital has quickly captured the momentum of growth in Asia and opened offices in Hong Kong or Shanghai.


Euroterra Capital's Crystal Waters Aquamarine luxury villa project by Euroterra Capital in Mykonos, Greece.


Euroterra focuses on the ability to preserve value and profitability for customers through a strategy to "revive" undervalued real estate in the central cities. In each product, Euroterra is interested in combining local characteristics to create specialized, harmonious living spaces. Products of the corporation are diverse such as separate houses, villas, complex projects...


Pafilia - Cyprus real estate giant


As one of the largest private real estate corporations in Cyprus, Pafilia is marked with impressive architecture. The Group offers comprehensive real estate solutions, including resort villas, apartments, townhouses or resorts.


Pafilia has developed over 130 projects with more than 3,000 properties over the past 4 decades. The Group's reputation is built through many successful projects, helping investors to profit while simultaneously owning Cypriot nationality and benefiting from many privileges of European citizens.


A villa belonging to the Minthis Resort in Cyprus developed by Pafilia.


At the meeting, representatives of corporations will attend the projects, receive direct advice from experienced experts. In addition, questions related to legal, investment procedures and solutions including management assistance, introduction or sale of real estate abroad will also be satisfactorily answered by local lawyers. locally.


The successes drawn from years of international real estate investment experience from Denzell experts, the organizers, will also be consulted in detail.


According to Minh Anh

The note when developing integrated real estate

The note when developing integrated real estate

Investors developing integrated projects should consider factors on planning of parking space and internal utility space carefully.


The real estate consultancy JLL said the concept of "urban in urban" was a future trend of the market. This urban form has become popular as developers begin to find ways to attract buyers by creating well-planned neighborhoods with lots of utilities, to help future residents avoid nuisance caused by rapid urbanization and lagging public infrastructure.


Here are the key points to the sustainable success of "integrated real estate" projects that developers should consider, according to JLL.


A super project is under development in Hanoi. Photo: Ngoc Son


Focusing on traffic planning


Transport infrastructure planning is very important when developing large-scale projects. With the increasing trend of car ownership in Vietnam, congestion of roads and a shortage of parking spaces will boost demand for efficient transport solutions. Full parking, convenient connection to the main road and public transport system will become an important plus point to enhance the value of the project.


Separate project development stages by space and time


As the size of the project increased, rational development planning for different functional spaces became a challenge for developers. In order to achieve quality, convenient and diverse public spaces, careful consideration of urban planning aspects is required. The bustling commercial streets, along with squares, sidewalks and the arrangement of harmonious buildings, will help develop a vibrant and attractive urban area. Therefore, help maintain the long-term value for the project.


The project phases should be carefully considered to ensure the construction progress for each part of each neighborhood and does not affect completed areas. In some projects, investors build green walls to prevent buildings that have been completed from existing constructions.


Building and maintaining public utilities


A major attraction of integrated projects is the large-scale public facilities located within the project premises. Utilities like public parks or sports stadiums help attract buyers but can be expensive to maintain. Therefore, project developers should be aware early on the future maintenance costs of these types of buildings and share those costs with buyers (if any) to protect the value of their shared assets.


Internal harmonious utilities


According to JLL, for projects that benefit from existing public utilities, it does not mean that developers ignore the internal facilities of each component project. Focusing on internal utilities to create diversity among buildings as well as build a sense of privacy for future residents. In addition, developers need to pay attention to the harmony between the number of users and common facilities such as swimming pool, gym, children's playground... to ensure long-term value for these utilities.


Diverse and integrated residents composition


The plus point of any large-scale project is the ability to provide a wide range of housing types to different groups of potential buyers, thereby creating diversity in the population. Even so, each building should be custom designed for each specific target group of customers based on harmony with the overall living environment.


For example, in some urban areas, developers are building small serviced apartments targeting single customers located in the center of the project. Meanwhile, family-oriented buyers are arranged in large-sized apartments in buildings located in quieter areas.


JLL is a group specializing in providing real estate investment and management services. By the end of 2018, this unit has more than 300 offices operating in more than 80 countries and 90,000 employees worldwide.


According to Nguyen Ha