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News Release

Vietnam

JLL | Market Watch Sep 18, 2017

by JLL


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1. Talk on Dong Nai real estate kicks off in Ho Chi Minh City
Participants at the talk highlighted the fact that Dong Nai province, covering an area of 5,900 square metres, is situated right next to the bustling Ho Chi Minh City. The province also enjoys a well-connected traffic system to Southern Vietnam, making it one of the most popular destinations for real estate investment. Dong Nai recently emerged back in the spotlight thanks to the Long Thanh International Airport project, which is slated to complement Tan Son Nhat Airport in Ho Chi Minh City. Various opportunities for real estate investment have arisen as a result, with special interest for land plots.​

2. FDI inflow into HCM City shoot up
HCM City has attracted US$3.23 billion in foreign direct investment (FDI) in the first eight months of 2017. This is 1.57 times higher than the figure in the same period last year. One of the biggest FDI projects currently in HCM City is the Saigon Silicon City Project, a research and development project and home to many of the world’s biggest high-tech corporations and technology start-up companies.
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3. World Bank announces new cooperation framework with Vietnam
Under the Country Partnership Framework, the proposed World Bank Group framework for engagement in Vietnam for the financial years 2018-2022 is organised around three focus areas, including enabling inclusive growth and private sector participation, investment in people and knowledge, and ensuring environmental sustainability and resilience. These areas cover 11 objectives, of which “promoting private sector and agri-business development” is a priority.​
4.  HCMC says no to apartments smaller than 25sq.m
The HCMC government has just announced a decision disallowing construction of apartments smaller than 25 square meters, saying such small-sized condos will put pressure on the city’s infrastructure and give rise to slums in the sky. According to the HCMC government, the city has seen rapid population growth and urbanization. Small commercial apartments with a floor area of less than 45 square meters each will further strain the city’s infrastructure and affect urban planning. Therefore, the city suggested condo projects comply with the above regulations until the new National Standards for condos are issued.

5. VN firms wary of 2018 e-invoicing
The Ministry of Finance is drafting a circular on invoices, noting that paper bills will be replaced by e-invoices from the start of 2018. A representative of Orient Commercial Joint Stock Bank said that under the draft, each e-invoice must contain a verifying code provided by the tax authority at a fee of VND300, estimating that the verifying fees might cost the bank VND300 million per month. “Policies on e-invoicing must be given careful consideration because e-invoicing shou​ld aim to cut costs for businesses, not push up costs.”​
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6. Franchise battle stirring up Vietnamese milk tea market​
More than three years ago, the family of Nguyen Hoai Phuong, a young businessman in Ho Chi Minh City, decided to join a new area of business—opening a Taiwanese milk tea franchise in Vietnam.​
His decision came after he and his family members had made numerous leisure and business trips to Taiwan, Singapore, and South Korea. They actually had a chance to enjoy some tasty cups of milk tea at Gong Cha before Phuong came up with the idea of bringing the drink back to Vietnam.
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7. H&M set to open first store in Vietnam​
H&M Hennes & Mauritz AB (H&M), the international retailer known for fashion and quality at the best price in a sustainable way, will open its first Vietnam store on Saturday, September 9, at 11am.
Located at the popular shopping destination Vincom Center Dong Khoi in downtown Ho Chi Minh City on two floors, the 2,200 sq m flagship store is a dedication of inspiration for fashion fans in Vietnam.
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