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Việt Nam’s five month FDI disbursement up

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A part of the southern Bình Dương Province, which ranked top in terms of FDI attraction in the first five months of this year. — Photo nld.com.vn

HÀ NỘI — Disbursement of foreign direct investment (FDI) experienced a positive yearly increase of 7.8 per cent to US$7.71 billion in the first five months of this year, as the national economy appears to be back to normal, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. 

The Government and relevant agencies’ continual and effective assistance, along with efforts by enterprises to weather the pandemic and adapt to the new context, have helped firms gradually recover, maintain, and expand operations. That’s why the disbursed capital has been rising over the past months, the agency explained. 

Though the registered capital in the five-month period, $11.71 billion, was equivalent to just 83.7 per cent of the figure in the same period last year, only investment in new projects declined by 53.4 per cent to $4.12 billion while the capital poured into existing projects surged 45.1 per cent to hit $5.61 billion.

Capital contributions and share purchases by foreign investors also witnessed a significant year-on-year rise of 51.6 per cent to $1.98 billion.

The FIA said in its latest report that despite the COVID-19 pandemic’s adverse impacts, foreign investors still put their trust in the economy and investment climate of Việt Nam in the new normal context, and decided to expand their projects in the country.

Among typical capital-added projects include the Thái Nguyên Province-based Samsung Electro-mechanics Vietnam project, which increased its capital by $920 million, and three plants for manufacturing electronics, network equipment and multimedia audio products in three localities of Bắc Ninh, Nghệ An and Hải Phòng which hike their investment by nearly $306 million, $260 million and $127 million respectively.

From January to May, the processing and manufacturing industry lured the lion’s share of FDI with over $6.8 billion, accounting for 58.2 per cent of the total registered investment capital. The real estate sector came next with nearly $3 billion or 25.6 per cent, followed by the information and communication industry and science and technology sector with $398 million and $374.8 million respectively.

Singapore retained its position as Việt Nam’s leading foreign investor with nearly $3 billion, making up nearly 25.3 per cent of the total FDI registered in the country. However, investment pumped by Singaporean businesses in the Southeast Asian country saw a strong decline of 44 per cent year-on-year. 

South Korea’s five-month investment in Việt Nam ranked second, surging 12.6 per cent year-on-year to over $2.06 billion or equivalent to 17.6 per cent of the total FDI and Denmark rank third with nearly $1.32 billion or 11.3 per cent thanks to large-scaled LEGO project.

Mainland China, Japan, and Hong Kong were the runners-up. 

The FIA added localities luring the most FDI were the southern province of Bình Dương with $2.52 billion or making up 21.5 per cent of the nation’s total FDI, the northern province of Bắc Ninh ($1.65 billion or 14 per cent) and HCM City ($1.3 billion or 11.3 per cent). 

VN remains attractive to int’l investors: HSBC

An HSBC survey showed that up to 21 per cent of Indian firms operating or intending to operate in Southeast Asia plan to expand their business in Việt Nam in the next two years, and the ratio is 26 per cent among Chinese enterprises.

According to the survey covering more than 1,500 companies from six of the world’s largest economies – all of which have operations in Southeast Asia, three out of 10 surveyed companies pointed to a skilled workforce as an advantage of Việt Nam, while 27 per cent cited competitive wage prices and proven economic resilience in response to the pandemic.

Currently, 39 per cent of Indian companies stated they were attracted by the country’s infrastructure, while 39 per cent of US firms said that they are keen on opportunities to develop and test new products/solutions in the market.

Particularly, 49 per cent of surveyed firms, mostly from China, India and the US, said that they hope to make use of the EU-Việt Nam Free Trade Agreement (EVFTA) to strengthen and support their trade activities in the region.

At the same time, 33 per cent said that they have to face challenges in supply sources due to the impacts of COVID-19 in Việt Nam.

Cultural issues were also a major concern for 31 per cent of enterprises.

Sustainable development in Việt Nam also draws the attention of international investors. Among the international companies participating in the survey, 45 per cent of those with Vietnamese operations stated that the most important sustainability actions they could take were improving energy efficiency; a further 42 per cent underlined the importance of supporting local communities. 

Some 31 per cent of respondent companies operating in Việt Nam worried that new regulations and rules on carbon reduction could impact them. Meanwhile, 36 per cent flagged the difficulty of hiring employees who possessed the correct sustainability credentials and knowledge.

Tims Evans, HSBC General Director in Việt Nam said that Việt Nam is an example of successful COVID-19 control. The country is rising as a global production hub thanks to the incentives given by the Government, especially in the signing of free trade agreements.

Through the discussions of HSBC Vietnam with multinational corporate clients, HSBC found that the trend of shifting investment to Việt Nam is not temporary, but strategic and long-term, he said. —

Source: https://vietnamnews.vn/economy/1206402/viet-nams-five-month-fdi-disbursement-up.html

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Vietnam’s agro-forestry-fishery exports hit record high

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Vietnam raked in US$49 billion in export revenue from agro-forestry-fishery products between January and November of this year, exceeding the previous record of $48.6 billion set in 2021, according to the Ministry of Agriculture and Rural Development.

The ministry on Wednesday shared that Vietnam exported over $4.27 billion worth of agro-forestry-fishery products in November alone, down nearly five percent year on year.

During the same period, the country’s seafood export turnover hit $10.14 billion for the first time ever.

The Vietnam Association of Seafood Exporters and Producers (VASEP) will hold a ceremony to celebrate the milestone on December 10.

From January to November, there were eight commodities with export turnovers that surpassed $2 billion, including coffee ($3.5 billion, up 31.5 percent), rubber ($2.9 billion, up 3.2 percent), rice ($3.2 billion, up 6.9 percent), tra fish ($2.2 billion, up 61 percent), shrimp ($4.1 billion, up 14.6 percent), and wood and wooden products ($14.6 billion, up 9 percent).

Asian countries remained the largest importers of Vietnam’s agro-forestry-fishery products with nearly 45 percent of the market share, followed by America with 27 percent, and Europe with 11 percent.

As for importing countries, the U.S. took the lead with $12.3 billion.

China came in second with some $9.3 billion, followed by Japan with $3.9 billion, and South Korea with $2.3 billion. 

According to the Ministry of Agriculture and Rural Development, Vietnam, China’s unwillingness to end its zero-COVID policy will create a challenging future for Vietnamese farm produce for the foreseeable future. 

Moreover, due to the depreciation of China’s renminbi and Thailand’s baht over the Vietnam dong and U.S. dollar, China will likely increase imports from Thailand and reduce imports from Vietnam.

Meanwhile, Vietnam’s exports of wood pellets to the European Union (EU) remain low due to Europe’s strict origin traceability requirements.

The EU’s requirements for wood pellet imports are more stringent than those of Japan and South Korea, which is a significant challenge that will require Vietnamese exporters to improve their equipment and technology.

The Ministry of Agriculture and Rural Development will continue popularizing a protocol on the official export of Vietnamese durians to China, requirements for passion fruit exports to China, and requirements for pomelo exports to the U.S.

The ministry will also accelerate negotiations over a protocol on phytosanitary requirements for dragon fruit, longan, litchi, rambutan, and mango exports to China. 

It will also work with the General Administration of Customs of China to launch weekly online inspections into banana and durian batches shipped from Vietnam to its northern neighbor.

In addition, it will seek ways to remove technical and trade hindrances and pave the way for the export of Vietnamese products to other large and potential markets, such as Japan, South Korea, Myanmar, Australia, and New Zealand via official channels.

Specialized agencies will work with Japanese phytosanitary inspectors who come to Vietnam to check local dragon fruit, mango, and longan processing units in order to boost the export of these products.

The government assigned the Ministry of Agriculture and Rural Development an agro-forestry-fishery export revenue target of $50 billion this year.

If the export growth momentum is maintained in the last month of the year, the country’s agro-forestry-fishery exports this year will likely reach $53 billion.

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Vietnam raked in US$49 billion in export revenue from agro-forestry-fishery products between January and November of this year, exceeding the previous record of $48.6 billion set in 2021, according to the Ministry of Agriculture and Rural Development.

The ministry on Wednesday shared that Vietnam exported over $4.27 billion worth of agro-forestry-fishery products in November alone, down nearly five percent year on year.

During the same period, the country’s seafood export turnover hit $10.14 billion for the first time ever.

The Vietnam Association of Seafood Exporters and Producers (VASEP) will hold a ceremony to celebrate the milestone on December 10.

From January to November, there were eight commodities with export turnovers that surpassed $2 billion, including coffee ($3.5 billion, up 31.5 percent), rubber ($2.9 billion, up 3.2 percent), rice ($3.2 billion, up 6.9 percent), tra fish ($2.2 billion, up 61 percent), shrimp ($4.1 billion, up 14.6 percent), and wood and wooden products ($14.6 billion, up 9 percent).

Asian countries remained the largest importers of Vietnam’s agro-forestry-fishery products with nearly 45 percent of the market share, followed by America with 27 percent, and Europe with 11 percent.

As for importing countries, the U.S. took the lead with $12.3 billion.

China came in second with some $9.3 billion, followed by Japan with $3.9 billion, and South Korea with $2.3 billion. 

According to the Ministry of Agriculture and Rural Development, Vietnam, China’s unwillingness to end its zero-COVID policy will create a challenging future for Vietnamese farm produce for the foreseeable future. 

Moreover, due to the depreciation of China’s renminbi and Thailand’s baht over the Vietnam dong and U.S. dollar, China will likely increase imports from Thailand and reduce imports from Vietnam.

Meanwhile, Vietnam’s exports of wood pellets to the European Union (EU) remain low due to Europe’s strict origin traceability requirements.

The EU’s requirements for wood pellet imports are more stringent than those of Japan and South Korea, which is a significant challenge that will require Vietnamese exporters to improve their equipment and technology.

The Ministry of Agriculture and Rural Development will continue popularizing a protocol on the official export of Vietnamese durians to China, requirements for passion fruit exports to China, and requirements for pomelo exports to the U.S.

The ministry will also accelerate negotiations over a protocol on phytosanitary requirements for dragon fruit, longan, litchi, rambutan, and mango exports to China. 

It will also work with the General Administration of Customs of China to launch weekly online inspections into banana and durian batches shipped from Vietnam to its northern neighbor.

In addition, it will seek ways to remove technical and trade hindrances and pave the way for the export of Vietnamese products to other large and potential markets, such as Japan, South Korea, Myanmar, Australia, and New Zealand via official channels.

Specialized agencies will work with Japanese phytosanitary inspectors who come to Vietnam to check local dragon fruit, mango, and longan processing units in order to boost the export of these products.

The government assigned the Ministry of Agriculture and Rural Development an agro-forestry-fishery export revenue target of $50 billion this year.

If the export growth momentum is maintained in the last month of the year, the country’s agro-forestry-fishery exports this year will likely reach $53 billion.

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

Source: https://tuoitrenews.vn/news/business/20221203/vietnams-agroforestryfishery-exports-hit-record-high/70274.html

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US supports Vietnam’s clean energy adoption

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The U.S. government has unveiled a US$36-million Vietnam Low Emission Energy Program II (V-LEEP II) fund to be disbursed over five years to speed up Vietnam’s transition to clean energy.

The program is funded by the U.S. Agency for International Development (USAID).

It is meant to help Vietnam develop a clean, secure and market-based energy sector by increasing the deployment of advanced energy systems, improving energy sector performance, and increasing competition in the energy sector, according to the U.S. Consulate General in Ho Chi Minh City.

The consulate general organized a seminar on Thursday to discuss the role of hydrogen fuel technology in green energy transition, as part of the project.

Many researchers evaluated Vietnam as a country with great potential for the development of hydrogen fuel, one of the cleanest alternative sources of raw materials produced from wind and solar energy as it is zero-carbon.

Clean hydrogen can be mixed with traditional fuels such as gas to reduce emissions and to be used in many industries such as steel, chemicals, fertilizers, and transportation. 

Hydrogen is also a great form of chemical energy storage, providing clean backup.

Speaking at the event, Susan Burns, the U.S. Consul General in Ho Chi Minh City, assessed that Vietnam has the advantage of geographical location to thrive in clean hydrogen production. 

The diplomat once again emphasized the U.S.’ enthusiasm in supporting Vietnam shifting toward green energy, in line with the global trend.

Among different forms of recycled energy, Vietnam’s offshore wind power potential is forecasted to reach 160GW in the long term and is one of the most abundant sources of supply in Southeast Asia, according to statistics from the Danish Energy Agency.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

The U.S. government has unveiled a US$36-million Vietnam Low Emission Energy Program II (V-LEEP II) fund to be disbursed over five years to speed up Vietnam’s transition to clean energy.

The program is funded by the U.S. Agency for International Development (USAID).

It is meant to help Vietnam develop a clean, secure and market-based energy sector by increasing the deployment of advanced energy systems, improving energy sector performance, and increasing competition in the energy sector, according to the U.S. Consulate General in Ho Chi Minh City.

The consulate general organized a seminar on Thursday to discuss the role of hydrogen fuel technology in green energy transition, as part of the project.

Many researchers evaluated Vietnam as a country with great potential for the development of hydrogen fuel, one of the cleanest alternative sources of raw materials produced from wind and solar energy as it is zero-carbon.

Clean hydrogen can be mixed with traditional fuels such as gas to reduce emissions and to be used in many industries such as steel, chemicals, fertilizers, and transportation. 

Hydrogen is also a great form of chemical energy storage, providing clean backup.

Speaking at the event, Susan Burns, the U.S. Consul General in Ho Chi Minh City, assessed that Vietnam has the advantage of geographical location to thrive in clean hydrogen production. 

The diplomat once again emphasized the U.S.’ enthusiasm in supporting Vietnam shifting toward green energy, in line with the global trend.

Among different forms of recycled energy, Vietnam’s offshore wind power potential is forecasted to reach 160GW in the long term and is one of the most abundant sources of supply in Southeast Asia, according to statistics from the Danish Energy Agency.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Source: https://tuoitrenews.vn/news/business/20221203/us-supports-vietnams-clean-energy-adoption/70315.html

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Masterise Homes launches The Global City Sales showroom — Vietnam’s largest lifestyle hub

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Masterise Homes officially announced the grand opening of The Global City Sales Gallery at the end of last month, marking the presence of Vietnam’s largest sales gallery and lifestyle hub with a scale of 10,000 m2.

Visualizing the future of The Global City, the Sales Gallery is a convergence of unparalleled design and cutting-edge technology produced by global award-winning architectural design studio Foster + Partners.

Located in An Phu Ward, Thu Duc City, Ho Chi Minh City , The Global City Sales Gallery overlooks and is adjacent to a canal and Southeast Asia’s largest Fountain Festival.

The exterior architecture bears the image of majestic wings with the aspiration to reach new heights and the commitment to sustainable development.

The sales gallery is also Vietnam’s first building with the largest surrounding water-covered surface landscape.

The sales gallery is also Vietnam's first building with the largest surrounding water-covered surface landscape.

The sales gallery is also Vietnam’s first building with the largest surrounding water-covered surface landscape.

The spacious interior design encompasses exceptionally high ceilings, open-concept common areas, and a wide range of functional rooms — such as meeting rooms, presentation rooms, and exhibition areas — meticulously incorporating natural landscapes into modern architecture with advanced technology.

The Global City Sales Gallery comprises impressive cutting-edge technology, including a 360-degree LED screen in the main hall and two 180-degree LED screens in the presentation room, as well as a wall-mounted LED screen system in the exhibition and event areas.

The Global City Sales Gallery is designed to exceed all expectations of a regular sales gallery in Vietnam.

The spacious interior design encompasses exceptionally high ceilings, open-concept common areas, and a wide range of function rooms.

The spacious interior design encompasses exceptionally high ceilings, open-concept common areas, and a wide range of function rooms.

Far more than simply a ‘gallery,’ the building serves to welcome Masterise customers to the largest lifestyle hub in Vietnam.

With its perfect location to experience the new center of Ho Chi Minh City, it is no exaggeration to say that The Global City Sales Gallery is poised to become a top choice for corporate networking events and art exhibitions.

Once completed, the sales gallery will comprise an exclusive commercial area with leading brands, creating the perfect entertainment venue to unwind and relax with family and friends.

“Following the successful launch of the Fountain Festival last September, the grand opening today is a testament to our commitment to developing a new downtown at The Global City,” said Gibran Bukhari, Head of Sales Masterise Homes.

Gibran Bukhari, Head of Sales Masterise Homes, speaks at the grand opening of The Global City Sales Gallery.

Gibran Bukhari, Head of Sales Masterise Homes, speaks at the grand opening of The Global City Sales Gallery.

“We take great pride in maintaining construction progress ahead of schedule as we expect the 2km-long canal will commence operating soon, followed by other world-class facilities. The Global City Sales Gallery will become a leading destination for customers and investors and simultaneously boost the attraction and affirm the escalating value of the entire township.”

The Global City Sales Gallery signifies the vision and world-class capability of Masterise Homes to create exquisite real estate developments with impeccable standards.

Masterise Homes’ enthusiasm for building infrastructure in The Global City Sales Gallery demonstrates the commitment to delivering ultimate experiences for customers.

A new center of Ho Chi Minh City is taking shape at The Global City, awaiting future large-scale festivals and entertainment activities.

Masterise Homes officially announces the grand opening of The Global City Sales Gallery.

Masterise Homes officially announces the grand opening of The Global City Sales Gallery.

From November 29 to December 18, Masterise Homes has commemorated the milestone by organizing ‘The Grand Opening Week of The Global City Sales Gallery – Vietnam’s largest lifestyle hub with exclusive experiential events and attractive gifts for customers.

Masterise Homes also signed commercial cooperation agreements with leading F&B brands, such as Pizza 4P’s, Pasteur Street Brewing, and several brands under Mylife Company, including Yen Sushi & Sake Pub, Yen Sushi Premium, Shamoji, Omakase, Mylife Coffee, and many others.

The presence of Vietnam’s beloved F&B brands at The Global City will guarantee exquisite service facilities and elevate the ability to attract investment and value for SOHO townhouses – the first subdivision on the open market at The Global City.

About The Global City

The Global City, Vietnam’s first international standard township, is curated by award-winning British architectural design and engineering firm Foster + Partners.

Owning ‘the crown jewel’ of Ho Chi Minh City in An Phu Ward, Thu Duc City, the 117.4-hectare palatial master plan aims to become the new center of Ho Chi Minh City, with various products and world-class facilities.

The first public facility is phase 1 of the canal and Fountain Festival, which was put into operation in September 2022.

The launch generated a considerable buzz and attracted thousands of attendees from Chi Minh City.

About Masterise Homes

Masterise Homes, a member of Masterise Group, is a pioneer in bringing world-class excellence to the development, operations, and management of luxury real estate products and services in the Vietnamese market and beyond.

With a one-of-a-kind portfolio comprising the largest branded residences in Southeast Asia, Masterise Homes demonstrates world-class capabilities via a strategic partnership with Marriott International, the largest hotel brand in the world with iconic brands of Marriott, JW Marriott, The Ritz-Carlton, and ELIE SAAB to elevate Vietnam’ s position on the global property map.

Masterise Homes officially announced the grand opening of The Global City Sales Gallery at the end of last month, marking the presence of Vietnam’s largest sales gallery and lifestyle hub with a scale of 10,000 m2.

Visualizing the future of The Global City, the Sales Gallery is a convergence of unparalleled design and cutting-edge technology produced by global award-winning architectural design studio Foster + Partners.

Located in An Phu Ward, Thu Duc City, Ho Chi Minh City , The Global City Sales Gallery overlooks and is adjacent to a canal and Southeast Asia’s largest Fountain Festival.

The exterior architecture bears the image of majestic wings with the aspiration to reach new heights and the commitment to sustainable development.

The sales gallery is also Vietnam’s first building with the largest surrounding water-covered surface landscape.

The sales gallery is also Vietnam's first building with the largest surrounding water-covered surface landscape.

The sales gallery is also Vietnam’s first building with the largest surrounding water-covered surface landscape.

The spacious interior design encompasses exceptionally high ceilings, open-concept common areas, and a wide range of functional rooms — such as meeting rooms, presentation rooms, and exhibition areas — meticulously incorporating natural landscapes into modern architecture with advanced technology.

The Global City Sales Gallery comprises impressive cutting-edge technology, including a 360-degree LED screen in the main hall and two 180-degree LED screens in the presentation room, as well as a wall-mounted LED screen system in the exhibition and event areas.

The Global City Sales Gallery is designed to exceed all expectations of a regular sales gallery in Vietnam.

The spacious interior design encompasses exceptionally high ceilings, open-concept common areas, and a wide range of function rooms.

The spacious interior design encompasses exceptionally high ceilings, open-concept common areas, and a wide range of function rooms.

Far more than simply a ‘gallery,’ the building serves to welcome Masterise customers to the largest lifestyle hub in Vietnam.

With its perfect location to experience the new center of Ho Chi Minh City, it is no exaggeration to say that The Global City Sales Gallery is poised to become a top choice for corporate networking events and art exhibitions.

Once completed, the sales gallery will comprise an exclusive commercial area with leading brands, creating the perfect entertainment venue to unwind and relax with family and friends.

“Following the successful launch of the Fountain Festival last September, the grand opening today is a testament to our commitment to developing a new downtown at The Global City,” said Gibran Bukhari, Head of Sales Masterise Homes.

Gibran Bukhari, Head of Sales Masterise Homes, speaks at the grand opening of The Global City Sales Gallery.

Gibran Bukhari, Head of Sales Masterise Homes, speaks at the grand opening of The Global City Sales Gallery.

“We take great pride in maintaining construction progress ahead of schedule as we expect the 2km-long canal will commence operating soon, followed by other world-class facilities. The Global City Sales Gallery will become a leading destination for customers and investors and simultaneously boost the attraction and affirm the escalating value of the entire township.”

The Global City Sales Gallery signifies the vision and world-class capability of Masterise Homes to create exquisite real estate developments with impeccable standards.

Masterise Homes’ enthusiasm for building infrastructure in The Global City Sales Gallery demonstrates the commitment to delivering ultimate experiences for customers.

A new center of Ho Chi Minh City is taking shape at The Global City, awaiting future large-scale festivals and entertainment activities.

Masterise Homes officially announces the grand opening of The Global City Sales Gallery.

Masterise Homes officially announces the grand opening of The Global City Sales Gallery.

From November 29 to December 18, Masterise Homes has commemorated the milestone by organizing ‘The Grand Opening Week of The Global City Sales Gallery – Vietnam’s largest lifestyle hub with exclusive experiential events and attractive gifts for customers.

Masterise Homes also signed commercial cooperation agreements with leading F&B brands, such as Pizza 4P’s, Pasteur Street Brewing, and several brands under Mylife Company, including Yen Sushi & Sake Pub, Yen Sushi Premium, Shamoji, Omakase, Mylife Coffee, and many others.

The presence of Vietnam’s beloved F&B brands at The Global City will guarantee exquisite service facilities and elevate the ability to attract investment and value for SOHO townhouses – the first subdivision on the open market at The Global City.

About The Global City

The Global City, Vietnam’s first international standard township, is curated by award-winning British architectural design and engineering firm Foster + Partners.

Owning ‘the crown jewel’ of Ho Chi Minh City in An Phu Ward, Thu Duc City, the 117.4-hectare palatial master plan aims to become the new center of Ho Chi Minh City, with various products and world-class facilities.

The first public facility is phase 1 of the canal and Fountain Festival, which was put into operation in September 2022.

The launch generated a considerable buzz and attracted thousands of attendees from Chi Minh City.

About Masterise Homes

Masterise Homes, a member of Masterise Group, is a pioneer in bringing world-class excellence to the development, operations, and management of luxury real estate products and services in the Vietnamese market and beyond.

With a one-of-a-kind portfolio comprising the largest branded residences in Southeast Asia, Masterise Homes demonstrates world-class capabilities via a strategic partnership with Marriott International, the largest hotel brand in the world with iconic brands of Marriott, JW Marriott, The Ritz-Carlton, and ELIE SAAB to elevate Vietnam’ s position on the global property map.

Source: https://tuoitrenews.vn/news/business/20221202/masterise-homes-launches-the-global-city-sales-showroom-vietnams-largest-lifestyle-hub/70311.html

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