Business News

In other markets such as South Korea, Japan, Singapore and Thailand, a number of FDI firms are listed on the stock markets and there is no difference or discrimination between foreign-invested firms and domestic firms.

The Ministry of Construction (MoC) plans to start releasing quarterly reports on the domestic real estate market to increase transparency, Minister of Construction Phạm Hồng Hà said in a ministry meeting late last week.

This means for the first few years of EVFTA's implementation, most local garment and footwear products will not benefit from the EVFTA because MFN rates for those products are higher than GSP rates of 9 per cent for garment products and 3-4 per cent for footwear products at present.

Specifically, the minimum wage in Region 1 comprising more developed localities rose by VND240,000 to VND4.42 million per month, while that in Region 2 was hiked by VND210,000. The lowest wages in Regions 3 and 4 picked up by VND180,000 and VND150,000, respectively, according to Nguoi Lao Dong newspaper.

Nguyễn Văn Tuấn, chairman of the Việt Nam Cotton and Spinning Association, told Thời Báo Kinh Doanh (Business Times) newspaper that while the yarn and apparel segments had grown strongly, others like dyeing were poorly developed, causing a bottleneck.

Real estate brokerage plays an important role in the circulation of real estate products. The sustainable development of the property market depends on a variety of factors such as legal policy, management of authorities, operations of the businesses, as well as professionalism of brokerage teams.

This stable and substantive relationship is built from many positive factors, including a favourable political foundation, the Vietnamese Government’s support for bilateral trade and the special connection between the two countries’ peoples, shown by the up to 1.2 million visitors travelling between the two countries every year.

"More and more companies come to Vietnam ... In the foreseeable future, we do foresee a shortage of labour and even fierce competition for hiring staff there," Makalot chairman and CEO Frank Chou told Nikkei Asian Review, adding the company would now focus on Indonesia, which he expects to become its most significant production base in three to five years.