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Vietnam’s Top Property News – Week 27/2021

Posted by Khoi Pham on July 8, 2021

The top residential and commercial real estate news of the Week 27/2021 and property recommendations:

Information herein has been obtained from sources believed reliable, please analyze and use it at your own responsibility and independently confirm its accuracy and completeness.

NEW – Thao Dien Green (District 2, HCMC)

  • Developer: SIC Real Estate Investment Joint Stock Company
  • Location: Nguyen Van Huong Street, Thao Dien Ward, District 2, Ho Chi Minh City
  • Unit types: 1-Bedroom: 54.99 sqm & 61.36 sqm, 2-Bedroom: 83.51 sqm – 88.8 sqm, 3-Bedroom: 108.84 sqm – 130.39 sqm, Penthouse: 323.29 sqm – 400.71 sqm (Duplex)
  • Expected Completion: IV/2023
  • NOW receiving booking

NEW – Celesta Heights (Nha Be District, HCMC)

  • Developer: Keppel Land and Phu Long
  • Location: Nguyen Huu Tho, Nha Be, Ho Chi Minh City
  • Unit types: 1-Bedroom: 50m2, 2-Bedroom: 82-88m2, 3-Bedroom: 117m2
  • Price from 2,500USD/m2
  • NOW receiving booking

HCMC becomes worst-hit locality in new coronavirus wave

Vietnam recorded 254 new local Covid-19 cases Sunday noon, bringing the tally in HCMC to 5,865 cases, becoming the worst-hit locality in the latest coronavirus wave.

213 cases were recorded in HCMC, 11 in Binh Duong, 10 in Phu Yen, five in Long An, four in Binh Dinh, two each in Vinh Long, Hai Phong, Bac Giang and Tay Ninh, and one each in Ninh Thuan, Ha Tinh and Tra Vinh.

211 cases in HCMC have been contained within quarantine zones and locked down areas. Two are being contact traced.

Five cases in Binh Duong are close contact cases, while six others are being contact traced.

All the cases in Phu Yen, Long An, Binh Dinh, Vinh Long, Hai Phong, Bac Giang, Ha Tinh and Tra Vinh are close contact cases.

The cases in Tay Ninh and Ninh Thuan all returned from HCMC.

Vietnam has recorded 16,096 cases in 52 of its 63 cities and provinces since the fourth Covid-19 wave broke out in the nation on April 27.

With HCMC taking the lead at 5,865 cases, Bac Giang follows behind with 5,660 cases.

Source: VnExpress

Trade deficit nears $1.5 bln

The Cat Lai Port in HCMC. Photo by VnExpress/Quynh Tran.Vietnam had a H1 2021 trade deficit of $1.47 billion, compared with a surplus of $5.86 billion in the same period last year

The Ministry of Industry and Trade had reported a trade deficit of $1 billion in June, the second straight month that a deficit was recorded.

Between January and June, local firms posted a trade deficit of over $15 billion, while foreign-invested enterprises secured a trade surplus of $13.64 billion.

Production expansion after three waves of Covid-19 before April resulted in increased import of materials by local firms, the ministry explained. Local firms often import more materials in the first half of a year, but this is reduced in the second half, while export intensifies, the ministry said.

Exports of such products to big markets, including the U.S., China and the European Union saw high growth in the first half of this year. Specifically, Vietnam earned $25.1 billion from exporting phones and their components, a year-on-year rise of over 14 percent; $17 billion from machines, equipment, tools and spare parts, up more than 63 percent; $15.2 billion from garments and textiles, up 14.9 percent; and $10.4 billion from footwear, up nearly 28 percent.

The U.S. continued to be Vietnam’s biggest export market with a turnover of over $45 billion, up 43 percent plus, followed by China with $24.6 billion, up 25 percent plus and the European Union with $19.3 billion, up 17.4 percent.

Meanwhile, China was Vietnam’s biggest import market with a turnover of nearly $54 billion, surging 53.6 percent year-on-year. Import turnover from South Korea rose 21.6 percent to $25.2 billion, and from ASEAN surged 49 percent to $21 billion.

Vietnam is set to export more products, mainly electronics, machines, equipment, woodwork, garments, textiles and seafood in the second half of 2021, the ministry said, noting that the U.S. and European countries were removing lockdowns and global demand for goods was recovering.

The country’s imports in the second half of this year is likely to be hit by the ongoing fourth Covid-19 wave in many cities and provinces, especially those with large production and import-export capacity like Bac Giang, Bac Ninh, HCMC, Dong Nai and Binh Duong.

Source: VnExpress

How Covid-19 impacts Vietnam’s economy

Vietnam’s economy is recovering from a low base last year, but the number of businesses leaving the market remains high amid growth prospects narrowed by several outbreaks.

Source: VnExpress

Vietnam forecasts 6-6.5 pct H2 GDP growth

A man works on a construction site in Hanoi on June 21, 2021. Photo by VnExpress/Giang Huy

The government forecasts a GDP growth of 6-6.5 percent in the second half this year depending on the Covid-19 situation.

In the first scenario, the economy would expand by 6 percent if the current Covid-19 wave is contained by July and no major outbreak occurs in industrial parks and big cities, Deputy Minister of Planning and Investment told reporters Thursday evening.

In the second scenario, the economy would expand by 6.5 percent if the current Covid-19 wave is contained in June, but this is a “very challenging” target as the situation remains complicated, he said.

Other challenging factors to the economy in the first six months include rising property, goods, material and logistics costs, it was added.

However, the economy still recorded positive growth despite Covid-19 impacts. Growth in the first six months was 5.64 percent, triple that during the same period last year.

Government revenues rose 15.3 percent year-on-year, while exports surged 28.4 percent to over $157.6 billion.

Source: VnExpress

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