Vietnam news in brief - June 15

503 social housing projects underway

As of June, Vietnam has 503 social housing projects underway, with a total of nearly 420,000 units, the Ministry of Construction reported at a press conference on June 14. Of these, 75 projects with nearly 40,000 units have been completed, another 128 with over 115,000 units have started construction, and 300 with over 260,000 units have been approved for investment.

Electric vehicle battery swapping service expanded in Vietnam

A battery station is introduced at the launch of the service. Photo: congthuong.vn

Under a cooperation agreement signed on June 14, Son Ha Development of Renewable Energy JSC (Son Ha SHE), a member of the Son Ha Group, and SELEX Smart Mobility JSC (SELEX MOTORS) will provide a battery swapping service and develop a battery swapping network for Son Ha SHE's EVgo electric two-wheelers.

In the initial phase, the two units will launch the battery swapping application and infrastructure for EVgo electric motorcycles in Hanoi, Ho Chi Minh City, Danang, and tourist areas, then nationwide. The battery-swapping solution is expected to cater to 70% of the electric motorcycles currently used in the Vietnamese market.

Vietnam reaps US$300 million from rattan, bamboo exports

The General Department of Vietnam Customs reported that in the first five months of 2024, exports of rattan, bamboo, sedge, and carpet products totaled US$334.5 million, up 15.4% year-on-year.

The US remained Vietnam's largest export market, accounting for 40.9% of the total, followed by Japan, and the UK.

Hung Yen has $121-million industrial park

Deputy Prime Minister Le Minh Khai has approved the Tho Hoang Industrial Park project in An Thi District, northern Hung Yen Province, with an investment of around VND3.1 trillion ($121.8 million).

The 250-hectare Industrial Park (IP) project is located along National Highway 38B, near the junction of the Hanoi-Haiphong Expressway and the Cau Gie-Ninh Binh Expressway. The district also has seven other planned IPs and eight potential projects for 2021-2030.

Foreign companies hold 75% of Vietnam's warehouse market share

According to a recent report by market research firm FiinGroup, foreign enterprises account for 75% of Vietnam's modern warehouse leasing market share in terms of area. By 2023, the country's total modern logistics supply will be nearly 3.9 million square meters, growing at an annual rate of 23% since 2020.

The top three developers - Mapletree, BW Industrial, and SLP - control 46% of the market, totaling almost 1.8 million sqm. In addition, FiinGroup has identified 25 new logistics projects that will add nearly 1.9 million square meters of lettable space by 2027. 

Cooperation to bring Vietnamese fashion and cinema to Hong Kong

The Cultural and Creative Industries Development Agency (CCIDA) of Hong Kong, China, is hoping for the participation of Vietnamese designers, fashion enthusiasts, and the public in Hong Kong Fashion Week, scheduled to be held in November 2024.

This is an opportunity for Vietnamese designers to gain access to Asian fashion and to introduce Vietnamese culture to the world. CCIDA also hopes to provide financial support for Vietnamese projects through film co-productions and television programs. 

Hanoi to complete water supply to 54 communes by 2024

Hanoi will complete water supply to 54 communes in 2024 and 70 communes in 2025, aiming to provide drinking water to 100% of the city's communes, said Vo Nguyen Phong, Director of the Hanoi Construction Department at a meeting on June 14.

Since the beginning of the year, 11 communes and towns have been connected to the water network, out of a total of 124 communes and towns without drinking water.