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The leasehold for home ownership for foreigners in Vietnam will be extended from 50 years to 99 years if the draft Law on Special Administrative-Economic Units is approved.

Prime Minister Nguyen Xuan Phuc chaired a meeting on August 2 to discuss the draft.

He agreed to create an outstanding institutional framework that transcends existing laws and minimizes the application of business investment conditions in special zones, to attract investment into such zones.

Regarding land policy, the law will be adjusted to extend the leasehold to 99 years for foreigners and allow them to mortgage assets in association with land use rights at foreign credit institutions.

PM Phuc confirmed the determination to establish a law guaranteeing long-term and sustainable development. He highlighted the spirit of ensuring international and regional competitiveness and seeking advantages to attract investment. He asked the Ministry of Planning and Investment to update information on special zones and issues identified by strategic investors.

Vietnam has 18 special economic zones with 325 industrial zones. At the end of 2016, the government agreed to establish three more: Van Don in northern Quang Ninh province, North Van Phong in south-central Khanh Hoa province, and Phu Quoc Island, off the coast of the Mekong Delta’s Kien Giang province.

Vietnam opened up its housing market to outsiders in 2015, with a regulation stating that foreign investment funds, foreigners with valid visas, and international firms operating in Vietnam and overseas could buy unlimited residential properties with a leasehold of 50 years.

According to the Ministry of Natural Resources and Environment (MoNRE), more than 80,000 foreigners live and work in Vietnam and there are more than 4 million Viet Kieu (overseas Vietnamese).

Meanwhile, foreign direct investment (FDI) flowing into Vietnam is forecast to rise to a record high this year as the country continues its efforts to improve the economic climate, Dang Huy Dong, deputy minister of Planning and Investment, said.

According to him, disbursed FDI will exceed $16 billion this year, and pledged investment will reach $28 billion. The country received $15.8 billion of actual investment last year, which was up nine per cent from 2015, according to the ministry.

Source: VIETNAMNET ,  investvine

The lotus may be a symbol of Vietnam, but it might have outgrown its popularity when it comes to new building designs.

Hanoi has revealed the design for its largest theater – a six-story building with six giant lotus flowers rising up from a lake.

According to the Lonely Planet news, the project is located in the western district of Vietnam’s capital and positioned along one of the main arterial roads that connect the city with Noi Bai Airport, the Hanoi Lotus project aims to create a brand new cultural epicentre in the area while offering a striking first impression for people entering the city. The building will sit atop a lake and will act as part of the city’s stormwater control system for drainage, as well as providing spaces for a range of different events.

It will house areas designed for ceremonies and weddings, a 2000-seater multi-functional theatre and performance space, and an ice skating rink. The ceiling of the main space takes inspiration from the colours and patterns of the underside of a lotus leaf, and will have a sculpted form that blends into the central auditorium. Each petal that forms a layer of the design will be formed from specially crafted glazing that will provide shading to the restaurant and VIP areas inside.

The design was created by Australian architecture firm deciBel, and incorporates Vietnam’s national flower the lotus into a modern and eye-catching design. The building has a pentagonal shape with the Lotus Building at its central node. As well as being inspired by the flower, the design is based on the five points of an out-stretched person in a bid to introduce a human element to it.

The project has been approved to go ahead, with the aim of having the building fully operational by Lunar New Year 2019, which will fall on Tuesday 5 February.

In a country where more than half of the population is online most of the day, the project has once again started a lot of chatter. A common theme seems to be people asking if the spending is necessary, or if the money should be used for schools, hospitals and roads. But this time, there’s a new debate that can be summed up in one word: “Again?”

The public appears to have had enough of lotus-inspired constructions.

The transport ministry has also chosen a lotus-themed design for Long Thanh Airport, a multi-billion dollar international airport in the southern province of Dong Nai that will be the largest in Vietnam. Ho Chi Minh City’s tallest skyscraper, Bitexco, also bears the image of a lotus bud.

Officials said construction is expected to be completed next year. The estimated cost has not been revealed. The city hopes that the theater, together with four horse race tracks which will be started later this year, will bring in more tourists. Hanoi aims to attract 4.3 million foreign visitors this year, up 7.5 percent from 2016.

Source: VnExpress  ,  Lonely Planet

A little market, tucked away in a corner of Ha Noi, may be the best choice when it comes to buying gemstones and jewellery. Sellers and buyers can meet and talk about the different stones, and all items are checked for quality.

If you are interested in buying gemstones or jewellery, you naturally think about visiting a jeweller’s shop or a luxury store. But now you can buy quality gemstones at this nondescript market in Ha Noi. It resembles a traditional market that sells vegetables; however, this particular market attracts dozens of small gemstone traders and gemstone lovers.

The neat little market, which is some 500sq.m, is in Alley 456 on Hoang Hoa Tham Street in Cau Giay District. The market opens once a week, every Sunday, from 8am to 2pm.

There are nearly 20 stores in the market selling artificial and natural gemstones, necklaces, bracelets and decorative stones. Most of the gemstones are exploited from Luc Yen District in the northern province of Yen Bai and from Quy Hop District in the central province of Nghe An.

Sellers at the market need only a table and chair to set up a stall. The gemstones are displayed on plastic trays or on a piece of card board so that buyers can select and inspect the products thoroughly. Buyers are free to carefully examine the gemstones. Prices vary depending on the material, quality and size of a gem.

Nguyen Ngoc Tu, a small trader from Yen Bai, said the most expensive gemstone is ruby and the cheapest is black stone. The harder the stone, the more expensive it is, Tu added. A rough ruby of about 160 carats could be sold for as much as VND100 million (US$4,400).

“A gem is suited to a person according to his fate. Suitable gems are believed to bring luck, good health and prosperity, while unsuitable gems can affect people’s health and luck,” Tu said.
“Buyers should consult with experienced sellers in the market about gems that are right for them,” he said.

Nguyen Thi Nhung, another small trader from Nghe An, said she used to sell ruby for VND400-500 million ($17,700-22,200). However, Nhung also sells gemstones for some VND50,000 ($2.2) for those who cannot afford the expensive variety. At the market, necklaces for VND100,000-200,000 ($4.4-8.8) are also available.

Many buyers who visit the market are gems sellers with small shops in Ha Noi or experts in the field of precious stones. Nhung said the simplest way to classify the different kinds of gems is under a certain light. Natural precious stones have more sparkle than artificial ones. Under the light, the good stones are illuminated with shapes of stars; they are pure and do not have cracks.

“Each seller here has one or two most favourite items which are only displayed if the customer is genuinely interested,” she said.

Le Tuan Anh, deputy chairman of the Ha Noi Gemstones Club that founded the market, said the market opened at the end of 2015 with the expectation that it would become a must-visit destination for domestic and international tourists to Ha Noi. It was also expected to spread the image of Viet Nam as a gems market.

“In the market, small traders and gem lovers can meet, exchange information and introduce unique gemstones from different places,” he said.

“All items for sale in the market have clear origin and are carefully checked,” he said.

To instill confidence in the quality of the gems, the organisers, who are members of the Ha Noi Gemstones Club, carefully check all products and reject substandard stones, besides strictly penalising sellers who intentionally try and cheat buyers.

The market’s organisers would soon ask gemstone sellers to donate a portion of their sales to set up a fund, which would be used for charity purposes and other social work to help the community, Anh said.

Nguyen Manh Hung, a customer living in Ha Noi, said, “I like gemstones but do not understand much about them. I often go to the market to study and learn from the experiences of sellers here.”

“One of the most unique factors of the market is that all clients, including those who do not know anything about gemstones, can select and buy precious stones suited to their demand thanks to the enthusiastic guidance from the sellers,” Hung said.

Source: VietNamNet

Retail service industry of Vietnam have been benefitted by the strength of domestic economy as well as tourism.

International arrivals to Hanoi reached a record 4 million last year, an increase of 21 per cent compared to 2015. Around 3,000 rooms in 12 hotels are due to open in the capital, with most of this new supply in the upscale segment, which will support increasing corporate demand, according to the Spotlight on the Accommodation & Tourism Industry report from JLL.

International operators IHG, Pan Pacific, Accor, Hilton, and Marriott currently have their hotel brands in the city.

In contrast to Ho Chi Minh City, there are very few domestically-operated hotels in the upscale and luxury segments, with the Apricot Hotel, a boutique luxury hotel located just to the west of Hoan Kiem Lake one of only a few to compete with international brands on average room rates. The majority of locally-operated hotels cater to the midscale and budget segments, especially in the popular Old Quarter, which is dominated by low cost and backpacker accommodation.

International fashion brands target Vietnamese market

International brand names are starting to grab the attention of Ho Chi Minh City’s fashion-conscious people, clearing the way for more ready-to-wear clothing stores in Vietnam. More than 50 well-known brand names, such as Giordano, Mango, Zara, Topshop, Gap and Old Navy, have opened stores in HCM City.

While Old Navy opened its first store last month, H&M launched its brand name last weekend with a fashion show at a leading shopping centre in the city.

Other fashion companies, including Pull&Bear, Uniqlo and F21, will also enter the market this year with their own stores scheduled to open in Hanoi shopping centres.

“Before launching our designs in Vietnam, we spent time researching the country’s economic development, culture and living conditions,” said a representative of Zara, who noted that the country would become one of the most important markets for the popular fashion brand from Spain.

Although their prices are higher than local products, ranging from 300,000 VND (15 USD) to over 1.5 million VND (70 USD) with accessories sell for an average of 100,000 VND (4 USD) per item yet customers, particularly young people, are thrilled they are here.

Vietnam to lead Asia for growth in convenience stores

Vietnam is forecast to be the fastest growing convenience store market in Asia by 2021, according to the Institute of Grocery Distribution (IGD).

By 2021, the growth of the convenience channel in Vietnam will increase by more than 37 percent, followed by the Philippines at 24 percent and Indonesia on 16 percent. The retail market in Vietnam is shifting from traditional to modern trade, said the IGD.

Vietnamese goods make up more than 80 percent of goods in the retail distribution system.

In recent years, Vietnam convenience stores have become popular destinations, especially for young consumers. Savvy operators, like Circle K and Family Mart, have recognised local demand for the stores as a place to not only shop but to hang out as well, providing an air-conditioned area to consume freshly-served convenience foods and snacks, modern merchandising systems, a mix of imported and local goods and in some stores free wifi.

Source: VietNamNet , Vietnam+ , VietNamNet

Golden Emperor has been sustaining its prestigious status in the overseas property market with accomplished experience, well recognized by the public and received numerous distinguished awards. We were honored to receive the “Overseas Property Agency Award” by Capital Weekly on last Friday (July 14) in the 10^th Capital Weekly Services Awards 2017 ceremony, having our expertise in the industry and profession towards our clients exalted. Mr. Terence Chan, Managing Director of Golden Emperor, was impressed by the heartfelt enthusiasm and promised to launch more quality investment projects, to deliver to both Hong Kong’s and overseas clients the best and thorough services, enabling them to get a comprehensive picture of the overseas property market.

Above: Golden Emperor has received copious awards since its establishment. Last week, we were awarded the “Overseas Property Agency Award” by Capital Weekly in The 10th Capital Weekly Services Awards 2017.

The 10^th Capital Weekly Services Awards 2017 aims to acknowledge brands and enterprises that provide the ultimate service to customers, to further affirm their commitment to profession. To receive the award, the companies need to be assessed in the following criteria: before- and after- sales service, customer service, goodwill, customer loyalty, market acceptance, and popularity, plus they need to get voted by readers and after the meticulous screening from the judging panel. Only after the strict assessment could the companies be crowned leaders of the respective industry.

Above: Mr. Terence Chan (middle), Managing Director of Golden Emperor, Ms. Cubie Chan (right), Project Development Director of Golden Emperor, and Ms. Alice Lee (left), Director of Golden Emperor attended the award ceremony.

Above: Twenty-four awards were presented in the ceremony, among which Golden Emperor received the “Overseas Property Agency Award.”