Vietnam news in brief - March 18

Hanoi, HCMC and Danang face challenges in meeting social housing demand

Hanoi, Ho Chi Minh City and the central coastal city of Danang have significant demand for social housing but face constraints in meeting their targets by 2025, according to a March 16 report by the Ministry of Construction.

From 2021 to 2023, 499 social housing projects (411,250 apartments) were conducted nationwide, of which only 72 projects (over 38,100 apartments) were completed. The remaining 129 projects (nearly 115,000 apartments) have been initiated, and another 298 (over 258,000 units) have received investment approval. In Hanoi, only three projects with 1,700 units are expected to be completed, meeting 9% of demand.

Binh Dinh's Amazing Fest: 500 drones light up Quy Nhon sky

A light show performed by drones.  Photo: nld.com.vn

For the first time, the central-southern province of Binh Dinh will host a light art performance with about 500 drones as part of the Amazing Binh Dinh Fest 2024, to be held on the evening of March 31 at Thi Nai Bay, Quy Nhon City. This event is one of the largest in the province in 2024, kicking off a series of distinctive celebrations and festivals throughout the year to attract domestic and international tourists.

Price appreciation motivates most foreign buyers in Vietnam: CBRE

Statistics from the Ministry of Construction show that over 3,000 foreigners have bought homes in Vietnam from 2015 to the end of the third quarter of 2023, according to CBRE Vietnam. The majority of these buyers are investors waiting for price appreciation. In a recent report titled "Two Decades of Urban Development", CBRE Vietnam revealed that since the relaxation of the foreign ownership policy in 2015, the majority of transactions conducted by CBRE from 2017 to October 2023 involved clients from Asian countries, including China, Hong Kong and Taiwan (China), and South Korea.

Cantho boost workforce training for semiconductor

The southern city of Cantho, local universities and education service provider Sun Edu signed an agreement on March 17 to develop student training programs for the local semiconductor and chip industries. Under the agreement, local universities will receive technical and professional support, as well as computers and other necessary equipment for their training courses.

The agreement aims to facilitate the development of semiconductor and chip industries in Cantho and other localities in the Mekong Delta region. Graduates will have the chance to work for global chip and electronics manufacturers.

Vietnamese women in France honored 

A number of Vietnamese women in France were honored for their great contributions to society at an event organized by the Association Entraide Femmes Entrepreneurs Vietnamiennes en France (AEEV) on March 17. The Association of Female Entrepreneurs in France also presented the "Golden Heart" badge to active members who played an important role in the association's charity activities in 2023.

AEEV is a non-governmental organization founded in late 2022. It aims to link Vietnamese female entrepreneurs in France and other nations. The association has launched voluntary activities in France and Vietnam and supports overseas Vietnamese in the host country.

Vietnam among the best five Asian economies in GOI 2024: Milken Institute

Vietnam ranks fifth among Asia's top 10 emerging and developed economies in the Global Opportunity Index 2024, after Malaysia, Thailand, China, and Indonesia. Globally, Vietnam ranks 65th with high scores in business environment, financial services, institutional framework, and international standards and policies.

The Global Opportunity Index 2024 is compiled by the Milken Institute, a US-based think tank. It is based on 100 indicators divided into five categories, including the four mentioned above and economic fundamentals.