Investment project subject to investment policy decision

Authority to decide investment policy of the National Assembly

Except for projects whose investment policy is decided by the National Assembly in accordance with the law on public investment, the National Assembly shall decide on investment policies for the following investment projects:

1. Projects that have a major impact on the environment or have the potential to seriously affect the environment, including:
(a) nuclear power plants;
b) Change of land use purpose of national parks, nature reserves, landscape protection areas, scientific research, or experimental forests of at least 50 hectares; headwater protection forests of 50 ha or more; protective forests for wind, sand, wave, sea encroachment or environmental protection at 500 ha or more; production forests of 1,000 ha or more;

2. Land use requiring a change of the use purpose of land under wet rice cultivation for two or more crops with an area of ​​500 hectares or more;

3. Relocation and resettlement of 20,000 people or more in mountainous areas, 50,000 people or more in other regions;

4. Projects applying specific mechanisms and policies that need to be decided by the National Assembly.

Competence to make a decision investment policies of the Prime Minister

Except for projects whose investment policy is decided by the Prime Minister in accordance with the law on public investment and projects whose investment policy is decided by the National Assembly, whose investment policy is decided by the Prime Minister. Invest in the following projects:

1. A project, regardless of capital source, falls in one of the following cases:
a) Relocation and resettlement of 10,000 people or more in mountainous areas, 20,000 people or more in other regions;
(b) Airport construction and commercial operations; Air transport;
(c) Construction and commercial operation of national seaports;
(d) Oil and gas exploration, extraction, and processing; dd) Betting, betting and casino business;
(e) Tobacco production;
g) Development of infrastructure of industrial parks, export processing zones and functional areas in economic zones;
(h) Construction and commercial operation of golf courses;

2. Projects not falling into the cases specified in Section 1 above and having an investment capital of 5,000 billion VND or more;

3. Projects of foreign investors within the field of the ocean transportation business, providing telecommunications services with network infrastructure, afforestation, publishing, journalism, the establishment of science and technology organizations, joint ventures 100% foreign capital in science and technology;

4. Other projects falling under the competence of the Prime Minister to decide on investment policies or to decide on investment in accordance with the law.

Authority to decide on the investment policy of the People’s Committee of the province

Except for projects subject to an investment policy decision by the People’s Committees of provinces in accordance with the law on public investment and projects invested by the National Assembly, the Prime Minister or the Committee. private. Provincial-level People’s Committees shall decide on investment policies for the following projects (except for investment projects implemented in industrial parks, export processing zones, hi-tech zones, economic zones in accordance with the planning. approved by a competent authority):

1. Projects which are assigned or leased land by the State without going through auction, bidding, or transfer; the project must change the land use purpose;

2. Projects using technologies on the List of technologies restricted from transfer in accordance with the law on technology transfer.

Source: GOV

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Weekly Vietnam Property News (14 – 21/11/2020)

Property News: The real estate market has recovered strongly with many positive signals

The Ministry of Construction said that despite experiencing the Covid-19 wave 2 times but based on the evaluation of macro factors as well as specific market indicators, the real estate market in the third quarter of 2020 is gradually recovering and developing.

The Ministry of Construction has just announced the report on the real estate market in the third quarter of 2020. Accordingly, the report stated that despite many difficulties, the housing sector and the real estate market in general still recorded positive points and significant indicators.

A number of solutions, mechanisms, and policies on the housing and real estate market are proposed and issued from the end of 2019 and early 2020 to take effect and take effect (such as the revised Law on Investment. 2020, the revised Construction Law 2020, Decree 25/2020 / ND-CP, a series of circulars, technical regulations and standards issued by the Ministry of Construction …).

In general, the real estate business across the country has progressed better, more vibrant, and has shown positive and positive signs. Towards the end of the year, the market shows strong signs of recovery.

Property News: Ho Chi Minh City accelerates the progress of key urban development projects

In addition to completing and effectively exploiting many projects, the city is also trying to solve many tasks to speed up the progress of projects as planned, soon complete the urban face.

To meet the needs of modern, large-scale urban development, Ho Chi Minh City is planned and is implementing many new urban projects in the vicinity and inter-region.

In addition to completing and effectively exploiting many projects, the city is also trying to solve many tasks to speed up the progress of projects as planned, soon improve the face of the city, effectively exploit efficiency of resources as well as ensuring the rights and improving the quality of life of the people.

Property News: Many real estate projects are about to restart

Recently, Ho Chi Minh City Real Estate Association (HoREA) said that real estate prices in Ho Chi Minh City increased unprecedentedly. Only in the first 6 months of 2020, the apartment market has set up a new price level, an average increase of 10 – 15%, in some places an increase of 30-40% compared to the same period in 2019, especially apartments in in District 2, District 9 …

The reason is said that the supply of new projects recently in Ho Chi Minh City is quite scarce because most of the projects are reviewed for a long time, while the demand for housing is still high, the need to invest in real estate HCM City real estate group of foreign investors increased sharply.

Real estate experts forecast that in the fourth quarter of 2020, the apartment market in Ho Chi Minh City will receive about 7,000 apartments.

Currently, the apartment market in Ho Chi Minh City started to increase strongly in new supply compared to the previous quarter. Many experts believe that the market in 2020 will look forward to the fourth quarter of this year when the disease is well controlled.

In fact, the real estate market in Ho Chi Minh City in recent days has started to flourish again with many launch projects open for sale at the end of the year, even the markets in the suburbs of Ho Chi Minh City are going quite exciting. activities, and also the main source of supply to the market.

In addition, a number of positive macro factors are also supporting future demand in the real estate market. Housing products will become attractive short-term investments for many groups of investors.

In fact, the real estate market in Ho Chi Minh City in recent days has started to flourish again with many launch projects open for sale at the end of the year, even in the suburbs of HCMC that are taking place. quite active, and also the main source of supply to the market.

 

Compiled from many sources by LOOKOFFICE

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source https://lookoffice.vn/weekly-vietnam-property-news-14-21-11-2020

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Weekly Vietnam Economy News (13 – 20/11, 2020)

Economy News: Regional Comprehensive Partnership Agreement (RCPA) was officially signed

On the morning of November 15, after the end of the online Summit of countries participating in the negotiation of the Regional Comprehensive Partnership Agreement, Prime Minister Nguyen Xuan Phuc and ASEAN leaders and partner countries witnessed the Signed this important Agreement.

The new cooperation framework of the RCEP Agreement will contribute to accelerating the process of building the ASEAN Economic Community 2025. From there, ASEAN will become a dynamic, powerful, and cooperative partner for mutual prosperity.

Economy News: Expectations to kick-start a wave of high-quality foreign investment

It is forecasted that the global foreign investment capital volume will decrease by 40% this year while the number of international enterprises and investors coming to Vietnam has increased over the months from the beginning of the year up to now.

In the first 10 months of 2020, although it was quite heavily affected by the COVID-19 epidemic, Vietnam still attracted 23.48 billion USD of foreign investment capital, equaling 80.6% over the same period in 2019.

Experts say that this is a very remarkable result in the context that most countries fall into a sharp decline in investment attraction results.

International financial and economic organizations expect a wave of high-quality investment in Vietnam will be started; stemming from two sides, including seeking opportunities for investors as well as continuing to promote the prestige and attractiveness of Vietnam in the eyes of international investors.

Economy News: FDI inflows into real estate soared in Q3

Despite the impact of the COVID-19 epidemic, the real estate market recorded a positive response in the third quarter of the year, reflected in the sharp increase of total FDI in this sector by 400% compared to the second quarter, according to the Ministry of Construction.

Specifically, FDI inflows into real estate increased from $ 0.264 billion in Q1 to $ 0.536 billion in Q2 and $ 2.35 billion in Q3.
Real estate experts said this is a good signal for the addition of an important source of capital for development investment in the real estate sector in particular and significantly contributing to investment in socio-economic development. associations of Vietnam in general.

Actual real estate market developments show that, after two rounds of COVID-19, most real estate businesses have gradually restarted operations.

Real estate developers have begun selling projects and announcing business plans after the pandemic, as well as recruiting workers and finding the right staff for long-term plans.

Although the market still faces many difficulties, real estate businesses and developers have taken solutions to approach customers, change development locations to catch up with the trend of FDI shifting and urbanization. localities outside the big city.

In addition, with special incentives from nature, an increasingly complete transport system, open investment policy, creating favorable conditions for domestic and foreign investors, Vietnam currently has own advantages to attract domestic and foreign real estate investors compared to other countries in the region. compared to other countries in the region in terms of attracting investment capital for the tourism sector and the segment of real estate investment in resort tourism.

The Ministry of Construction said that although it was double affected by the COVID-19 outbreak in July and the low season in the seventh month of the lunar calendar was considered an “unlucky” period, the increase in FDI On this field is a positive signal.

According to the ministry, most businesses in the real estate sector have been back to operation after two rounds of COVID-19.

They have taken measures to approach customers and even target new areas to anticipate the movement of FDI inflows and urbanization trends outside major cities.

Economy News: Foreign investors increasingly flock to the Vietnamese education sector

Foreign Investment Department of the Ministry of Planning and Investment said that as of September 20, FDI in this sector has increased by nearly 58% to 78.9 million USD.

Schools offering all levels of education from kindergarten to university attract the most FDI with about 5.28 million USD, equivalent to nearly 35% of the total new FDI in this field.

 

Compiled from many sources by LOOKOFFICE

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source https://lookoffice.vn/weekly-vietnam-economy-news-13-20-11-2020

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Weekly Vietnam Property News (07 – 13/11/2020)

Investment in industrial zones in Ho Chi Minh City increased by 7.16% in 10 months and a positive growth outlook in 2021

Industrial zones (IZs) and export processing zones (EPZs) in Ho Chi Minh City have attracted investments with a total value of 591 million USD in the first 10 months of this year, up 7.16% over the same period last year. , according to Ho Chi Minh City Import-Export Department Regional Management Agency (HEPZA).

Vietnam’s industrial real estate is forecast to continue to grow in the next 5-10 years with a new wave of investment, opening up opportunities to participate in the global supply chain for Vietnam.

The year 2020 is considered the time to open up the strongest development cycle in the past 25 years of industrial real estate. Many positive signs show that this segment is and will become a “low-lying area” attracting investment capital in 2021.

Currently, Vietnam is a large market with a population of over 100 million people and good consumption, which also presents great opportunities for foreign manufacturers to do business there as well as for new investors.

FDI capital reached US $ 270 million, down 19.14%. Meanwhile, domestic enterprises have invested more than 7.4 trillion dongs (321 million USD), up 47.6% over the same period last year. The service sector attracted the largest number of projects in the period, with a capital of $ 81.16 million, followed by mechanics, electronics, plastics, and rubber.

This is also the reason why many industrial real estate investors have invested in ready-built factories and warehouses to catch the wave of investment shifting between satellite enterprises when they come to Vietnam.

According to forecasts of experts and investors on Vietnam’s economy, in the current context of COVID-19, Vietnam’s economy will continue to grow in 2021, even doubling if the US economy will recover, because then, there will be a wave of investment in Vietnam.

M&A and the “blockbuster” screens in the real estate sector

The Covid-19 epidemic seemed to cause the M&A market to decline seriously, but in fact, many million-dollar deals were established in the real estate sector.

The M&A market is entering a new stage with thousands of transactions and the total value of transactions reaching nearly 50 billion USD, despite the impact of the Covid-19, but M&A in the real estate sector is still going quite exciting. with many blockbuster deals.

Many economic experts also believe that 2021 will be a year of convergence of many conditions and factors for M&A to “rise”. Factors affecting M&A in the coming time are more state divestments. Large-scale enterprises significantly increase the value of M&A in Vietnam.

Roadmap for the real estate market to enter a new cycle

The Covid-19 translation has cast a shadow on the globe, as a strong blow to the economy, in which it is impossible not to mention the sector heavily affected is the real estate market. But looking at another angle, according to some experts, the Covid-19 is like a prism to purify the market. Through that lens, people can see what is the direction of sustainable development. And in the new movement cycle, experts emphasize the trend of creating smart and livable urban areas.

After the period of “hibernation” due to the impact of the Covid-19 epidemic, real estate businesses faced the challenge, forced to restructure their products, and find a new strategic direction.

According to experts, the trend of developing smart and livable projects is considered a weak strategic solution, helping Vietnam’s megacities maintain a sustainable development pace in the future. And in the fierce race of a new cycle, real estate developers need to be quick to grasp this trend.

Structure and trend of real estate cash flow 2021

The market is also recording new and bold impulses. The trend of the real estate market will be warm again, associated with effective new legal documents that take effect from 2020 (such as new land price lists; sanctions for administrative violations in the field of land; Registration of mortgage of land use rights, land-attached assets ..); with maintaining ample aggregate demand in the low-cost commercial and social housing segments; increasing aggregate demand for industrial real estate and commercial land space associated with the implementation of new FTAs ​​and the boom in FDI inflows in 2021 and also with flexible structural adjustment and increased utility of real estate products estate next time.

In fact, in the first months of 2020, many domestic and foreign investors have promoted to search for locations in industrial zones to invest in factory business on a large scale, with a land fund of 500 – 1,000 ha.

In addition to the bright prospect of industrial real estate, real estate serving a resort model combining tourism, entertainment and on-site healthcare has a chance to recover and will be able to blossom in time. next.

In the year 2020 – 2021 and coming here, the market will witness a purification of developers for resort product development capabilities. Large-scale, multi-utility, multi-functional, and diversified marine cities will be the trend of resort real estate in the next decade.

In addition to the above two trends, the real estate market continues to record cash flows towards social housing products, quality and utility apartments, residential land, and private houses with legal papers and prime location. In particular, the apartments will be more attractive to investors than alley houses and alleys, due to the increasing trend of demand for utilities and the quality of life of young consumers.

In addition, the condominium and resort market segments will be more encouraged along with the trend of increasing promotion policies, stimulating more and more diversified and attractive buyers demand, not only changing the premium. , extend payment time, give vouchers, but also reduce the payment rate, increase the discount rate, commit to buyback …

The demand for housing in the East will increase sharply because of Thu Duc city

The establishment of Thu Duc city is expected to have a great impact on housing demand in this area. Not only is the need for settlement, but also commercial activities of the East will also increase when the regional planning comes into existence. With its position as the leading financial center in Vietnam, Thu Duc City welcomes the rising wave of international investment, leading corporations in the world such as Japan, Korea, France, America … are constantly pouring capital. . The strong economic impact of this area will lead to the growth of the real estate market, resulting in huge demand for houses, apartments, and offices in the future.

In terms of infrastructure, 70% of Ho Chi Minh City’s infrastructure investment is concentrated in the East area with a series of large and expanded transport routes showing HCMC’s determination to increase speed. infrastructure and population development here.

As soon as the information of the Thu Duc City project was announced, the land price in District 9 increased by 3-5%. Urban projects completed with full legal will soon become the focus, not only customers with real needs but also investors are also particularly interested.

Compiled from many sources by LOOKOFFICE

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source https://lookoffice.vn/weekly-vietnam-property-news-07-13-11-2020

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Weekly Vietnam Economy News (07 – 12/11, 2020)

Vietnam is focused on achieving its growth target

Vietnam is focused heavily on achieving its parallel goal of fighting COVID-19 and sustaining economic growth in the first nine months of 2020. Vietnam’s efforts have paid off, with GDP growth 9 months at 2.12%. Although this rate is the lowest Vietnam has published in a decade, it still compares favorably with the economic disasters that the pandemic has caused in many countries around the world.

According to the Ministry of Planning and Investment, processing and manufacturing is still the driving force behind the Vietnamese economy, recovering in October and growing 8.3% year-on-year.

The growth of the industry in particular and the economic growth of the country, in general, can be largely attributed to the successful containment of the second COVID-19 outbreak in July.

Industrial enterprises supporting HCM City to expand investment

According to Ho Chi Minh City Department of Industry and Trade, the city’s industrial production in recent months continued to recover, the following month being higher than the previous month. The index of industrial production (IIP) of the City in October increased by 5.8% over the previous month, of which the manufacturing increased by 6.0%.

The highlight of the city’s industrial production was the electronics manufacturing industry, increasing 20.6% in 10 months over the same period last year due to a stable consumption market. Export turnover of computers, electronic products and components in 10 months reached nearly 14.6 billion USD, accounting for 46.14% of total export turnover. Besides, the pharmaceutical-rubber-plastic industry also increased by 5.72% in 10 months.

Vietnam could be among the top largest economies in the world by 2030

Despite the challenges posed, Vietnam still reaped many achievements in the process of economic integration and development, promising to go further and rise to the forefront of the ASEAN region.

As a leading role for ASEAN, Vietnam has succeeded in bringing this regional organization to successfully sign the Regional Comprehensive Economic Partnership (RCEP) with its partners, except India has withdrawn from the agreement. due to concerns about the rising trade deficit.

This is not the only achievement of Vietnam in terms of economic integration in 2020. Last August, the Vietnam – EU free trade agreement (EVFTA) came into effect and created results. The results were relatively positive after only a few months of implementation.

In addition, Vietnam is also the only country in the ASEAN region to achieve positive growth of 2-3% in 2020 even with pessimistic scenarios, according to forecasts of the International Monetary Fund (IMF ), World Bank (WB) as well as domestic and foreign organizations and research institutes.

According to the statistics for the first 3 quarters of the year, the Vietnamese economy could not achieve high growth this year but still maintained stability in the macro base, with the inflation rate kept below 4. %, attracting foreign direct investment (FDI) is showing signs of recovery, trade surplus increases rapidly after EVFTA comes into effect …

Vietnam’s digital economy has a total value of 14 billion USD

The e-commerce industry in Vietnam grew 46% and Vietnam is the country with the highest rate of new Internet users in Southeast Asia ….

Vietnam and Indonesia are two countries with double-digit growth for the digital economy, of which Vietnam’s digital economy has a total value of 14 billion USD.

 

Compiled from many sources by LOOKOFFICE

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source https://lookoffice.vn/weekly-vietnam-economy-news-07-12-11-2020

Read Vietnam Economy Weekly News

Weekly Vietnam Property News (18 – 25/10/2020)

Property News: HCMC real estate market, many positive signals

Expected in quarter 4/2020, the Ho Chi Minh City market will have more than 16,000 apartments for sale; of which, 90% comes from the next phases of existing projects.
In the last 3 months of 2020, HCMC real estate market is expected to add more than 50,000m2 from 7 new projects; in which, the non-CBD area accounts for more than 80% market share.
The eastern area of the city (District 2, Thu Duc, District 9, Binh Thanh) will continue to lead the new supply.

Property News: Foreign investors like real estate in central Ho Chi Minh City

HCMC real estate has great growth potential, especially in the luxury real estate segment. The target of this investor is high-end apartment projects in the city center, in order to anticipate the value increase momentum when the land fund is exhausted but the need for the high-quality living of business people and experts. at home and abroad are always growing.
The trend of investors looking for luxury real estate in the big city center is also recorded at brokerage agencies specializing in serving the group of foreign investors.

Coming to the district, Nha Be district’s real estate is ‘hot again’

With strong changes in infrastructure, along with enough information to go to the district, real estate in Nha Be district (Ho Chi Minh City) is “hotter” than ever.
The transition from a district to a district in the immediate future will be very beneficial for local people, followed by increasing advantages to attract investment in the area. Nha Be district is being evaluated as a very potential area because a transport system connecting with important roads has been formed.

Specifically, at the end of April 2020, the intersection of Nguyen Van Linh – Nguyen Huu Tho, with an investment of more than VND 830 billion, has started phase 1, the project will promote city-wide connectivity through a combination. between the North-South and East-West axes.
With strong changes in infrastructure, along with information that has enough criteria to go to the district, Nha Be district is becoming the name “choosing to send gold” for the current residential and real estate investment needs. . Indeed, from the end of 2019 until now, the Nha Be land market has recorded a special excitement.

From the first quarter of 2021, city real estate. Ho Chi Minh City will “restart”

A project opened for sale early in October 2020 in Thu Thiem area, District 2, despite the average selling price of up to 7,000 USD / m2, still attracts many buyers.
Besides pointing to the decline of the real estate market in the city. Due to the translation factor of COVID-19, many experts and consulting companies also emphasize the optimism factor in the coming time.
Expected in quarter IV / 2020 city market. Ho Chi Minh City will have more than 16,000 units launched; of which, 90% comes from the next phases of existing projects. The area east of the city (District 2, Thu Duc, District 9, Binh Thanh) will continue to lead the new supply.

Compiled from many sources by LOOKOFFICE

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source https://lookoffice.vn/weekly-vietnam-property-news-18-25-10-2020

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Weekly Vietnam Economy News (16 – 23/10, 2020)

In this article, we will provide new information about Vietnam Economy.

Vietnam is the only country in Southeast Asia that is forecast to see positive growth this year, at 1.6%, and reaching 6.7% by 2021.

Vietnam’s GDP reached about 340.6 billion USD this year, becoming the fourth-largest economy in Southeast Asia.

This was revealed in the International Monetary Fund’s (IMF) World Economic Outlook Report released Tuesday.

Accordingly, Vietnam is the only country in Southeast Asia that is forecast to have positive growth this year, at 1.6%, and will reach 6.7% by 2021.

IMF forecasts that Vietnam economy will rank 4th in Southeast Asia this year.

Vietnam economy will grow by 3% in 2020, to 7.8% in 2021

The Vietnamese economy is expected to grow by 3% in 2020 and increase to 7.8% by 2021.

Construction is expected to improve in Q4, supported by increased investment in public infrastructure.

Private consumption, which accounts for nearly 68% of GDP, will see strong growth in Q4 thanks to improved domestic sentiment. Private investment, however, is likely to remain subdued given the lingering medium-term demand uncertainty.

Vietnam promotes smart urban development

As a country after building a smart city, Vietnam has the opportunity to learn and refine the world’s experiences, but also a pressure to not be left behind in this trend.
Urban areas currently contribute up to 70% of the country’s GDP, but still need to be operated optimally, smarter, and use resources more efficiently.

Currently, Vietnam has about 30 localities that are building smart cities. These cities mainly focus on basic areas such as smart education; medical intelligence; Smart traffic; intelligent public services, public administration, and e-government; smart travel; To do that, it is necessary to build an open database foundation.

The period of 2021 – 2030 is an extremely important period, determined to be a “breakthrough” with an estimated GDP growth rate of 7 – 7.5%. In which, the urban economy is identified as an important growth engine of the economy.

Vietnam – One of the most attractive retail markets in the region

Vietnam is a strategic business country that our corporation focuses on investing in. Therefore, the memorandum of understanding with Ho Chi Minh City will create more favorable conditions for the development of shopping centers.
September’s total retail sales of consumer goods and services recorded an increase of 2.7% over the previous month and 4.9% over the same period last year. This shows the certain attractiveness of the Vietnamese retail market compared to the region in the difficult context of COVID-19.

Vietnam’s economic recovery prospects are assessed positively

Thanks to its achievements in economic and resource development, Vietnam has recently risen to 12th in the Asia Power Index 2020 ranking. Australia’s leading foreign policy research institute. Previously, major economic organizations in the world are also continuously adjusting to more positive forecasts about Vietnam’s economic growth.

Effective COVID-19 epidemic prevention is putting Vietnam in a better position for economic recovery. According to the World Bank, the impressive growth of the index of industrial production and retail sales, the impressive trade surplus results of $ 17 billion after 9 months, from rice to key products of electronics are the Positive indicator for GDP outlook could reach 2.5 – 3% this year.

Compiled from many sources by LOOKOFFICE

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source https://lookoffice.vn/weekly-vietnam-economy-news-16-23-10-2020

Read Vietnam Economy Weekly News

Intellectual property in Vietnam

How intellectual property and resolve intellectual property disputes in Vietnam?

1. IP PRACTICE INCLUDE NEED:

1.1 Patents

Prepare patent applications;
Enforcement of patent certificates;
Prosecute violations at the administrative and judicial levels.

1.2 Trademarks

GV attorneys provide a full range of services related to trademarks and service marks. Use and enforcement of trademarks and service marks, as well as inspection of trademarks.

1.3 Copyright

Drafting a registration application for copyrights and related rights;
Advertisement;
Print and online publications;
Software;
Broadcast rights.

2. Resolve intellectual property disputes in Vietnam

2.1 About civil remedies

As a rule, in the course of filing a civil case, the owner of the IP right has the right to request the Court to stop the infringement, apologize, publicly damage the infringed goods and compensate for the damage. physically and mentally by the infringer. Damage can be calculated and demonstrated. In addition, during the lawsuit or in the process of settling a dispute, the owner of the IP right also has the right to request the Court to apply Interim Emergency Measures in some specific cases.

In fact, IP rights holders are not proactive in protecting their civil rights by civil means, and in the opposite direction, the civil regime in Vietnam is often not helpful in resolving disputes in process of using IP rights.

2.2 Regarding administrative measures

According to their assigned responsibilities, the state agencies competent to handle IPR infringement are diverse from the Economic Police (Ministry of Public Security); Market Management Department (Ministry of Industry and Trade); Customs (Ministry of Finance), and Inspector of such ministries.

When there is an alleged infringement, the owner of the IP right must find a legal representative of Vietnam to file and handle it before the competent authorities of Vietnam. The request to resolve an infringing act should clearly state the IP object, the person accused of infringement, and detailed information about the individual, the organization, and the resolution.

According to Decree 99/2013 / ND-CP regulations on sanctioning in IP, if the violation is identified, the violated individual/organization may be fined; to be suspended for a definite period of time the production or trading of infringing goods or services; remove the infringing element on the infringing goods or destroy the infringing goods or means of business.

Source: gvlawyers, Banca IP Law Firm

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Weekly Vietnam Property News (11 – 17/10/2020)

Property News: Infrastructure works are expected to change the face of the East of Ho Chi Minh City

Regarding the reason for the merger, the city thinks that this place has a lot of potentials to develop into a creative, high-interaction urban area, such as a High-tech park (the period 2010-2020 attracts more than $ 7 billion in investment. and exports 77 billion USD); Eastern university cluster of the city (more than 100,000 students, 2,000 lecturers with doctoral degrees); ring road 3; Metro No. 1, Thu Thiem new urban area – is planned to be the future financial center; Cat Lai container port is the country’s largest.

The new city is expected to contribute about 30% of HCMC’s GRDP (gross domestic product) and about 7% of the country’s GDP (gross domestic product). It is also the “nucleus” that promotes the economic growth of Ho Chi Minh City and the Southern key economic region in the context of the fourth industrial revolution.

Currently, a series of national key projects are being implemented and preparing for synchronous investment such as: expanding Ho Chi Minh City – Long Thanh – Dau Giay expressway, Ben Luc – Long Thanh expressway, Expressways Dau Giay – Phan Thiet, Dau Giay – Lien Khuong … Especially the Long Thanh international airport will create asynchronous, complete and modern transport infrastructure system of the province and the region.

Property News: HCMC: Supply is scarce when demand is very high

Market observations show that in Ho Chi Minh City, two areas that are witnessing strong absorption rates of the apartment segment are the East and the Northwest. In particular, the price of apartments in the East is supported by information on a new city, while the Northwest region is attracted to customers to buy by a series of key transport projects that have just been completed.

Recently, in the northwestern area of Ho Chi Minh City, the An Suong tunnel was inaugurated, the last item of an important intersection An Suong at the Northwest gateway of Ho Chi Minh City. Along with this intersection, An Phu bridge, northeast of the Saigon River, connecting District 12 with Go Vap or the Vam Thuat bridge project connecting District 12 with Binh Thanh has also been put into use. According to experts, if Ho Chi Minh City adopts a strategy to stretch the population to the suburbs, District 12 will be an area with great potential to accelerate in 2020.

Property News: Activated infrastructure makes Thu Duc city real estate become vibrant

The positive information from the establishment of Thu Duc is having a great impact on the real estate market, attracting the attention of businesses. This contributes to making the real estate market in Thu Duc city and neighboring areas already very active thanks to its prime location and now becoming even more attractive.
This is also the most dynamic and developed economic region in the country with hundreds of leading large industrial zones gathered here. At the same time, it is the association with international maritime routes such as the mouth of the Saigon River, Dong Nai, Thi Vai, and Seaport Cluster V, accounting for more than 50% of the country’s seaborne import and export volume.
It is a high-tech park – SHTP (District 9), 913ha wide, is now filled up about 90% with 156 investment projects in the technology sector, with a total investment of about 7.1 billion USD. This place also has the National University of Ho Chi Minh City with an area of about 643 hectares, with more than 10,000 lecturers and about 100,000 students. These main axes will create a city of Thu Duc which is a smart, creative, and highly interactive city.

Real estate retail is expected to recover significantly in the first quarter of 2021

Despite the slow recovery of retail property in the last quarter of the year, substantial recovery is expected from 2021.
The prospects of landlords and tenants improve as deterrent measures are eased. Shopper traffic is slowly recovering but still low. Notably, inquiries mainly come from existing food and beverage businesses expanding from Ho Chi Minh City to Hanoi. New foreign retailers are postponing entries.

Housing prices keep rising in HCM City

The prices of properties in Ho Chi Minh City increased by 15 percent in the third quarter

The luxury segment saw prices increase 14.7% YoY and 3.1% QoQ to $ 5,337 per sqm.
The second wave of COVID-19 played an important role in the market, removing short-term speculators with limited capital from the real estate market.
Real estate with prices under $ 450,000 attracts a lot of attention by people buying for rent or to increase its value in the future.

Compiled from many sources by LOOKOFFICE

To find more about Property News in Vietnam, you can click here: https://lookoffice.vn/category/property/

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source https://lookoffice.vn/weekly-vietnam-property-news-11-17-10-2020

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Weekly Vietnam Economy News (8 – 15/10, 2020)

In this article, we will provide new information about Vietnam Economy.

Vietnam becomes a magnet to attract foreign investment by 2021: policymakers

According to policymakers, Vietnam will be among the world’s top destinations for foreign direct investment (FDI) by 2021 thanks to Vietnam’s efforts to prevent and combat the COVID-19 pandemic.
A highly skilled workforce and political and economic stability are among the country’s most important advantages in attracting foreign investors, especially as the global economy struggling to recover from the pandemic.
Meanwhile, Vietnam has continuously improved its industrial infrastructure by boosting the construction of industrial zones and economic zones. By the end of September, there were 366 industrial parks nationwide, where there were more than 10,000 projects reaching nearly 200 billion USD of total investment value.
At the same time, Vietnam plans to invest in the workforce, develop supporting industries, and improve business laws and regulations to create the best environment for foreign investors.

Vietnam economic development opportunities and should not be overlooked.

Vietnam is a bright spot in the midst of the COVID-19 pandemic. While the world economy is dark but the country is still bright and stable, this is a great opportunity for growth.

According to VARS statistics, there are 216 real estate projects with tourism infrastructure systems in 10 provinces, with 83,000 condotel apartments, 30,000 villas and shophouses, and 12,000 hotel rooms.

According to calculations, to develop the tourism economy to 2025, the tourism industry welcomes 120 million domestic tourists and 35 million international visitors.

Vietnam economy will grow by 7.1% in 2021

Experts forecast that Vietnam’s economy will grow 4% in the previous quarter and 2.8% in the whole of 2020.
Vietnam’s economy will grow by 71% by 2021
K-shaped restoration: A world of difference

2020 is still a recession year but given the better-than-expected overall economic data than the March / April bottom, pessimism a few months ago gave way to a less bad outlook. But signs of stability in the global economy cannot be taken for granted as the path to recovery is still very uncertain and depends on the risks of any booming COVID-19 outbreak. In the fourth quarter, the financial stimulus “cliff” is another risk unless governments extend their help measures to businesses and households.

One game-changing factor for the outlook is that COVID-19 vaccine development is doing well, and the reported base case is an effective mid-2021, although this still exists. the possibility of failure.

Compiled from many sources by LOOKOFFICE

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source https://lookoffice.vn/weekly-vietnam-economy-news-8-15-10-2020

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