Vietnam is one of potential markets for branded residences

 

Vietnam is among the four markets with potential growth in branded residences segment, according to a global Savills report.

 

Branded residences, as a property sector, have proved to be incredibly resilient in the face of global uncertainty and change. The sector has not only survived the disturbance but continues to thrive. Over the past 10 years, it has grown by over 150%, Savills reported.

 

Savills Branded Residences shows that Dubai, South Florida, and New York are the top three locations for branded residences globally this year, based on their supply of completed and pipeline schemes.

 

By volume of pipeline, the United States, the United Arab Emirates, Vietnam, and Mexico are forecast to add the largest number of schemes – more than 30 in each country, in the future.

 

Vietnam is leisure and business destination, and both tap into a wide range of international demand. The high net-worth individual (HNWI) population in Vietnam has expanded by 86% in the last five years. The burgeoning middle- and upper-classes in the country also present further potential for branded residences.

 

Mathew Powell, Director of Savills Hanoi said: “During the economic turmoil, buyers will look for the property with long-term investment potential, this is also an advantage of branded residences.

 

“International brands bring their own quality assurance: through design, service, amenities, but also through reputation. Therefore, it is good time for branded residences development to the global experiences that branded residences bring.

 

“Vietnam market for branded residences is continuing to expand, especially Vietnam urban and resort market with a very strong potential.

 

“There is live interest for brands to enter into new markets and look for new locations to grow their portfolios not only in the resort destinations but also in major urban centres. The collaboration with brands also helps developers with better recognition.

 

“On the demand side, there’s a lot of demand for three- and four-bedroom apartments which provide extra space for families. Having said that, we also see a lot of interest for two-bedroom units from young families and couples, as well as buyers that are using the residence as their second home.

 

Younger customer base, affluent, globally-mobile individuals will continue to drive demand for branded residences.”

 

He also stressed the associated risks of poorly planned projects. The failure to hand over projects on time or with the expected financial commitments has impacted the appetite for the second home market.

 

According to Oxford Economics forecasts, the highest growth in terms of number of high-income households over the next five years is projected in the Americas, Asia Pacific, the Middle East and European regions. These locations expect some of the new high-net-worth buyers to be looking for primary residences and second homes in branded schemes. According to Savills, the future hotspots include some of the cities that are going to see a strong rise in wealth, such as Jakarta, HCM City, Beijing and Shanghai.

 

Domestic demand for luxury branded residences is likely to grow faster in emerging markets (where the base point is low), such as HCM City, where the quality of the existing stock is unlikely to meet the requirements for high-quality fit-out and services by new HNWI. In these markets there will be opportunities for urban upscale products as well as luxury products for brand-loyal, well-travelled customers.

 

Source: Vietnam News Agency

Enhancing supervision at border gates needed to control COVID-19: official

Deputy Minister of Health Nguyen Thi Lien Huong has emphasised the necessity to strengthen supervision and take more samples for COVID-19 testing at border gates besides maintaining the current pandemic prevention and control measures as usual.

 

Addressing a meeting on disease surveillance and response of the Public Health Emergency Operations Centres (PHEOC) under the Ministry of Health on January 2, the official said Vietnam needs to make careful preparations to effectively control the pandemic, in the context of some countries changing their COVID-19 control policy.

 

Localities with border gates need to pay attention to taking samples in the community, and reviewing the capacity of treatment and accommodation facilities in order to serve visitors, Huong stated.

 

After China decided to open the border and lift COVID-19 quarantine measures from January 8, health experts said the border opening can lead to an increase in the number of COVID-19 cases, but Vietnam is unlikely to be at risk of an outbreak because of its community immunity.

 

According to Dr. Phan Trong Lan, Director of the General Department of Preventive Medicine under the Ministry of Health, local departments of health must continue strictly implementing medical quarantine activities specified in Decree 89/ND-CP by the Government, which details a number of articles of the Law on Prevention and Control of Infectious Diseases on border health quarantine.

 

Sharing Lan’s viewpoint, Assoc. Prof. Dr. Tran Nhu Duong, Deputy Director of the National Institute of Hygiene and Epidemiology, suggested that attention should also be paid to communication activities so that passengers can proactively declare their health situation and implement infection prevention measures.

 

Previously, heads of units under the Ministry of Health, and directors of the departments of health of localities nationwide have been required to shore up vigilance against the pandemic.

 

The Ministry of Health has asked localities, especially those with border gates, to speed up the vaccination scheme, trying to complete their goals in the first two weeks of January.

 

The same day, the Ministry of Public Security held an online conference to popularise Decree 93/2022/ND-CP dated November 7, 022 on ensuring security and order at air border gates.

 

The decree is an important document, creating the legal foundation for public security forces to roll out measures to ensure security and order at air border gates, contributing to safeguarding aviation security in any circumstances./.

 

Source: Vietnam News Agency

 

Prime Minister highlights motto to realise goals in 2023

Prime Minister Pham Minh Chinh has highlighted the motto of “Solidarity, Discipline – Mettle, Flexibility – Innovation, Creativity – Timeliness, Effectiveness” in order to realise the goals set for 2023.

 

At a teleconference between the Government and localities on January 3, PM Chinh said 2023 is a core year to fulfill the goals set in the 2021-2025 plan amid global risks and challenges as well as difficulties and limited economic resilience in the country.

 

He asked ministries, agencies and localities to promptly build a Resolution on the Government’s Action Plan on orientations to socio-economic development and national security-defence in the Red River, north central and coastal central regions.

 

PM Chinh requested that the Party, National Assembly and Government’s Resolutions and Conclusions must be materialised via specific programmes and projects with clear roadmaps from the beginning of this year.

 

They must keep abreast of the practical situation; proactively, flexibly and creatively handle arising issues within their authority, and immediately report and propose solutions to problems beyond their authority.

 

The Government, ministries, agencies and localities must be consistent with the goal of maintaining macro-economic stability, controlling inflation, propelling growth, ensuring major balances of the economy, thus ensuring legitimate rights and interests of citizens, investors and relevant stakeholders in line with the law, he said.

 

The leader called for improving the efficiency of price management, inspection and crackdown on smuggling, trade frauds and illegal price speculation while effectively stepping up economic restructuring in combination with renewing growth models, enhancing economic efficiency, competitiveness and resilience.

 

He directed continuing with the solid, active, flexible and effective monetary policy in harmonious and sound combination with expansionary fiscal policy and other policies; ensuring liquidity and credit growth and quality, and enhancing state management to prevent unhealthy and policy profiteering activities.

 

The restructuring of credit organisations in combination with settling bad debts for 2021-2025 must be accelerated, focusing on delayed and less efficient projects.

 

The Government, ministries and agencies were assigned to be drastic with State budget collection, improve tax-related administrative procedures, and fine-tune tax management regulations.

 

With the highest determination, ministries, agencies and localities must carry out the socio-economic recovery and development programme, three National Target Programmes, push forward disbursement of public investment capital and public-private partnership, particularly in infrastructure, he said, adding that they must support businesses and trade promotion, expand export markets, draw high-quality FDI, offer new tours to popularise Vietnam’s tourism, as well as come up with specific measures to take advantage of China’s reopening.

 

The PM suggested improving the efficiency of State-owned enterprises and develop the private economic sector, effectively pool resources of SOEs in energy, infrastructure of digital transformation and key national transport works; and developing a sustainable and effective labour market.

 

He also asked for completing mechanisms and policies for sustainable development, green and circular economy; effectively coping with climate change and epidemics, ensuring harmonious connectivity between economic and socio-cultural development.

 

Other tasks include continuing to consolidate national defence-security to firmly safeguard national independence, sovereignty and territorial integrity; build an independent and self-reliant economy with intensive, extensive and effective global integration, including building an action plan to implement Directive No.15 on economic diplomacy; stepping up Party building and crackdown on corruption, wastefulness and negative phenomena.

 

On the occasion, he called on administrations at all levels, sectors and localities to actively respond to recently-launch emulation campaigns and ensure a warm and happy Lunar New Year (Tet) festival for policy beneficiaries, disadvantaged, poor and near-poor households, victims of disasters and epidemics and those in remote, mountainous, island and ethnic minority regions.

 

Leaders of ministries, agencies, localities, businesses and business associations at the event expressed their satisfaction with 2022 socio-economic achievements, with 13 out of 15 targets being met or surpassed.

 

Source: Vietnam News Agency

 

Fiscal, tax support policies continue in 2023: Deputy Minister

The Ministry of Finance (MoF) has suggested a series of solutions related to fiscal and tax policies in support of citizens and businesses this year, Deputy Minister of Finance Nguyen Duc Chi told a regular press conference of the Government in Hanoi on January 3.

 

Chi said fiscal and tax support policies have been put in place since the COVID-19 pandemic broke out. Last year alone, value added tax was reduced from 10% to 8% for almost items. Tax payment was delayed to support liquidity and cash flow of businesses, land taxes were also cut down while environment protection taxes on petrol products were brought to the floor level.

 

The total support package amounted to 233 trillion VND (10.1 billion USD) which was unprecedented, helping businesses, citizens and the whole economy to improve their resilience, he said.

 

According to the official, the MoF suggested the Government consider and decide on the delayed payment of several kinds of taxes for businesses and people, as well as reduction of land lease costs.

 

Basically, the suggested support policies are similar to those applied in 2022, except adjustments related to kinds of goods and level of support.

 

The Government is ready with other scenarios if support from fiscal policies is needed, Chi affirmed, adding that the Government will smoothly manage monetary and other macro policies to ensure macro balance for stable economic development.

 

Source: Vietnam News Agency

Indonesia’s 2022 inflation surpasses forecast

Indonesia’s inflation rose slightly in December and remained above the central bank’s target range for the 7th successive month, as household spending increased during the year-end holidays.

 

According to data released by the Statistics Indonesia on January 2, the headline annual inflation rate picked up to 5.51% in December, compared with 5.42% in November and the 5.39% expected by analysts.

 

Bank Indonesia (BI)’s inflation target range is 2-4%. In its meeting last month, the central bank had predicted that December inflation would not exceed 5.4%.

 

BI raised the key policy rate by a total of 200 basis points in the period from August to December to bring inflation to within its target range this year.

 

December’s prices were propped up by higher prices of fuel, airfares, house rents and foodstuff such as rice and eggs, Statistics Indonesia chief Margo Yuwono told a news conference.

 

The annual core inflation rate, which excludes government-controlled prices and volatile food prices, inched higher to 3.36% last year.

 

Source: Vietnam News Agency

 

Project supporting women-managed cooperatives approved

 

Deputy Prime Minister Le Minh Khai on January 3 signed a decision approving a project on supporting cooperatives which are managed by women and create jobs for female labourers.

 

The project, to be implemented until 2030, aims to develop and improve the efficiency of cooperatives managed and operated by women, thus bettering the material and spiritual life of their members and workers.

 

It is expected to promote the development of the collective economic sector, and encourage the entrepreneurship spirit of members and women, contributing to realising the goals of socio-economic development, international integration and gender equality.

 

By 2030, at least 1,500 cooperatives will benefit from the project, while 10,000 cooperative groups will be established, creating stable jobs for 30,000 female members of cooperatives and 100,000 female members of cooperative groups.

 

100% female managers of cooperatives will be provided with training courses to enhance their management and administration capacity.

 

The project also targets raising awareness of members of cooperatives and women about the Party’s guidelines and policies, and the State’s laws on cooperative economic development.

 

Source: Vietnam News Agency

 

Investigations into Viet A, rescue flight cases to be completed in January

The Ministry of Public Security is striving to complete investigations into the Viet A and rescue flight cases in January, Chief of the Office of the ministry Lieut. Gen To An Xo informed the press during the Government’s regular press conference in Hanoi on January 3.

 

The number of defendants in those cases may increase in the coming time, Xo said.

 

He said so far 102 defendants have been prosecuted in connection with the COVID-19 test kit overcharging scandal at Viet A Technologies JSC, with a total 1.67 trillion VND (72.6 million USD) confiscated, frozen or voluntarily returned by the defendants.

 

Meanwhile, 39 defendants have been prosecuted for their involvement in the bribery case in connection with flights bringing overseas Vietnamese home during the COVID-19 outbreaks.

 

Source: Vietnam News Agency

 

Minovia Therapeutics to Present at Biotech Showcase on Tuesday, January 10, 2023

Company to be in San Francisco January 8-12, 2023, during 41st Annual J.P. Morgan Health Care Conference

WOBURN, Mass. and HAIFA, Israel, Jan. 03, 2023 (GLOBE NEWSWIRE) — Minovia Therapeutics, a clinical-stage global biotechnology company, today announced that the Company will be presenting at the Biotech Showcase on Tuesday, January 10, 2023, at the Hilton San Francisco Union Square Hotel in San Francisco, CA.

Time: 9:45 AM PST

Track: Franciscan C (Ballroom Level)

Biotech Showcase is an investor conference featuring insights from top investors and biopharma executives.

Interested parties can register to attend the event here:

https://informaconnect.com/biotech-showcase/registration-options/

Additionally, CEO Natalie Yivgi-Ohana and CBO Shai Melcer will be in San Francisco from January 8-12, 2023, during the 41st Annual J.P. Morgan Health Care Conference and will be available for meetings with investors.

Individuals interested in meeting with CEO Natalie Yivgi-Ohana and CBO Shai Melcer can contact shai.melcer@minoviatx.com

About Minovia
Minovia Therapeutics is a clinical-stage global biotechnology company committed to the discovery and development of novel approaches to treating diseases caused by mitochondrial dysfunction. Minovia’s Mitochondrial Augmentation Technology (MAT) platform is designed to extend and enhance human lives by restoring mitochondrial function using autologous stem cells enriched with healthy, functional mitochondria. This unique approach capitalizes on the natural ability of mitochondria to transfer between cells. The company’s initial clinical focus is on primary mitochondrial diseases, such as Pearson syndrome, a fatal pediatric disease, and hematological disorders that include mitochondrial dysfunction.

Findings on safety and efficacy of MAT, both pre-clinical and clinical, may be found in these publications:

https://www.nature.com/articles/s41536-021-00167-7

https://www.science.org/doi/10.1126/scitranslmed.abo3724

Minovia was founded by leading researchers in mitochondrial biology and is headquartered in Haifa, Israel, with operations in Massachusetts.

For more information, visit http://minoviatx.com/.

Contact Information

Shai Melcer, CBO

3 HaSadna st., Tirat Carmel

Israel

Shai.melcer@minoviatx.com

+972-747033354

GlobeNewswire Distribution ID 8722760