Vietnam Business & Weather Briefing (July 15): HCMC’s Office Space Market Rebounds Strongly

Vietnam Business & Weather Briefing (July 15): Vietjet was named among the top 10 best low-cost airlines, reference exchange rate up VND 24 on July 15.
July 15, 2022 | 16:46

Business Briefing

Gold rate: VND 68.15 million per tael (selling)

Reference exchange rate: VND 23,225/USD

Aviation news: Vietjet named among top 10 best low-cost airlines

Real estate news: Ho Chi Minh City’s office space market rebounds strongly

Weather Forecast

The total rainfall nationwide is about 25 degrees higher than the same period next year

Business Briefing

Gold rate

The gold price of DOJI was listed at VND 67.55 million per tael (buying) and VND 68.15 million per tael (selling). SJC gold is bought at VND 67.6 million per tael and sold at VND 68.22 million per tael.

Reference exchange rate

The State Bank of Vietnam set the daily reference exchange rate for the US dollar at VND 23,225/USD on July 15, up VND 24 from the previous day. With the current trading band of +/-3 percent, the ceiling rate applied to commercial banks during the day is VND 23,921/USD, and the floor rate is VND 22,528/USD.

The opening-hour rates at many commercial banks went up. At 8:40 am, Vietcombank listed the buying rate at VND 23,250/USD and the selling rate at VND 23,560/USD, both up to VND 15 from July 14. Meanwhile, BIDV kept both rates unchanged at VND 23,275/USD (buying) and VND 23,555/USD (selling).

During the week from July 11-15, the daily reference exchange rate for the US dollars was adjusted down on Monday but then up on all the remaining days. It ended the week up VND 55.

Vietnam Business & Weather Briefing (July 15): HCMC’s Office Space Market Rebounds Strongly
Photo: Zing

Aviation news: Vietjet named among Top 10 Best Low-cost Airlines

Vietjet has been named for two international awards, the ‘Value Airline of the Year’ and the ‘Top 10 Best Low-cost Airlines” for 2022 by AirlineRatings, the world’s renowned airline safety, and product rating website. The awards recognize the airline’s combination of expansive flight network, low fares, diversified services, clever promotion approaches, and personalized options for busy and highly demanding passengers from all walks of life.

“Vietjet has been praised for its customer-centric strategy as the airline constantly expands its flight network, offers diversified flight schedules, and stays ahead of airfare competition. The carrier is also recognized for its massive investment into the new and modern fleet, technology adoption, and pre-flight and in-flight services to meet passengers’ evolving travel demand,” said Airlineratings Editor-in-Chief Geoffrey Thomas.

AirlineRatings also rates Vietjet at a seven-star level, the highest ranking for aviation safety in the world for five consecutive years since 2018, and “the world’s Top 10 safest low-cost airlines for 2022” among 385 global airlines, according to VNA.

Besides Vietjet, this year’s AirlineRatings Top 10 list also highlights other notable low-cost peers such as Ryanair, Fly Dubai, Southwest, and EasyJet, etc. thanks to their excellent performances and contribution to affordable traveling and add-on values for their customers in the post-pandemic recovery.

Vietnam Business & Weather Briefing (July 15): HCMC’s Office Space Market Rebounds Strongly
Photo: Zing

Real estate news: Ho Chi Minh City’s office space market rebounds strongly

Office space for lease in Ho Chi Minh City in the first half of 2022 continued to make a recovery with a total net absorption area of about 21,000 sq.m, equivalent to 38% of 2021, although the new supply remained limited, according to real estate firm CBRE. In its report on the real estate market in HCM City in the second quarter of 2022, CBRE Vietnam said that the average vacancy rate of Grade A decreased by 1.6 percentage points quarter-on-quarter and 2.1 percentage points year-on-year to 10.1%, mainly thanks to the strong absorption of office space in District 7.

Meanwhile, the average vacancy rate of Grade B remained at 9.7%, almost equivalent to the figure reported in the same period last year. The total office space for lease in HCM City in the first six months stood at 1.5 million sqm. According to CBRE Vietnam, the information technology and manufacturing industries account for nearly 50% of the total transaction areas. Along with the recovery of the manufacturing industry after the Covid-19 pandemic, suppliers have also actively searched for office space with a significant increase in successful transaction rates in the new rental category.

Regarding leasing purposes, transactions related to relocation still accounted for the majority with over 50% of total transactions. The rest were transactions of expansion, renewal, and new leases (27%, 12%, and 10% respectively). Notably, transactions related to narrowing space dropped off compared to 2020 and 2021.

According to experts from CBRE Vietnam, the first half also marked the return of demand for flexible offices with an occupancy rate of more than 90%. CBRE Vietnam’s report said that HCM City is expected to welcome about 30,000 sq.m of new office space in the second half of 2022 from three Grade B buildings and two Grade A buildings. Along the banks of the Saigon River, many office buildings where construction was suspended due to the pandemic, have now been completed. The total space for lease in this area is 250,000 sqm. Rentals of both grades are not expected to see much adjustment until 2024 as most of the new supply in the second half of 2022 will come from non-CBD areas, CBRE Vietnam said.

Vietnam Business & Weather Briefing (July 15): HCMC’s Office Space Market Rebounds Strongly
Photo: Thanh Nien

Weather Forecast

July 15-20: The average temperature nationwide will be about 0.5 degrees Celsius lower than the average for the same period over many years. Meanwhile, the temperature in the North West is 0.5 degrees Celsius higher. The total rainfall nationwide is about 25 degrees higher.

Vietnam Business & Weather Briefing (July 11): Reference Exchange Rate Down VND 7

Vietnam Business & Weather Briefing (July 11): Reference Exchange Rate Down VND 7

Vietnam Business & Weather Briefing (July 11): Banks introduce eTax Mobile service, Vietnam targets 5.5 bln USD in agro, forestry, and fishery export value to ...

Vietnam Business & Weather Briefing (July 12): HCM City Approves 50% Port Infrastructure Fee Cut

Vietnam Business & Weather Briefing (July 12): HCM City Approves 50% Port Infrastructure Fee Cut

Vietnam Business & Weather Briefing (July 12): Australia ends anti-dumping tax on aluminum extrusions imported from Vietnam, reference exchange rate up VND 13

Vietnam Business & Weather Briefing (July 13): Rain Continues Nationwide

Vietnam Business & Weather Briefing (July 13): Rain Continues Nationwide

Vietnam Business & Weather Briefing (July 13): Reference exchange rate up VND 15, CPTPP prompts Vietnam’s aquatic exports to Japan.

Valerie Mai

Insider

Vietnam News Today (Dec. 9): Vietnam - Singapore Innovation Centre Helps Firms Transform Production Focus

Vietnam News Today (Dec. 9): Vietnam - Singapore Innovation Centre Helps Firms Transform Production

Vietnam News Today (Dec. 9): Vietnam - Singapore innovation centre helps firms transform production; HCM City among most searched destinations by travelers; Vietnamese digital technology industry's revenue estimated at 148 billion USD in 2022; Two Vietnamese films up for consideration at Oscars.
22:37 | 08/12/2022
Phiên bản di động