Press Release- For immediate release
The coronavirus pandemic has translated into a worldwide economic downturn. In the face of such challenges, Vietnam has turned its coronavirus success into economic growth. Multi-national companies are shifting production base from China to confront the fragility of the modern supply chain. Vietnam, a gainer from the crisis, is seeing a V-shaped economic rebound, becoming the fastest-growing economy among SE Asia and across the globe post-COVID-19. Its vibrant society with a growing middle-class and expat pool is driving growth within Vietnam’s real estate market.
Golden Emperor Properties is partnering with acclaimed developer Gamuda Land to host the exclusive pre-launch of Central Residence situated on the shoreline of Yen So Lake in Hanoi. With location nearby the upcoming MRT and shopping centre, international schools, and everyday amenities, Central Residence will be where the city’s elite class calls home. Prices begin from HKD 880K.
Vietnam flattens the coronavirus curve
Vietnam’s achievement in containing the virus has been highly praised by foreign media. The country made decisive social distancing measures early, reporting less than 300 cases with no deaths, a number significantly lower than neighbouring countries. The nation has already eased lockdowns with factories, workers and, expatriates resuming work, while the public remains confident in its economy.
Rewriting the modern supply chain
The coronavirus pandemic has revealed the fragility of the modern supply chain. In China, businesses and manufacturers have struggled to procure basic materials, urging multi-national companies to alter their reliance on China. Japan has launched a stimulus package, including a 220 billion YEN fund aimed to help Japanese production shift home from China and another 23.5 billion YEN initiative to shift production to other ASEAN countries.
The USA government has additionally pledged to remove dependency on China’s supply chain. US Secretary of State, Mike Pompeo, announced to restructure the supply chain alongside Australia, India, and Japan. Multi-national companies have begun relocations to Vietnam, including Google and Microsoft. Samsung, one of the world’s leading smartphone producer, has stationed 50 per cent of its production in Vietnam, now deemed the next global manufacturing hub to play a pivotal role in restructuring the global supply chain.
Emergence with a V-shaped economic rebound
Although COVID-19 has caused a global economic slowdown, effects have shown to be relatively minor in Vietnam. The General Statistic Office of Vietnam reported that the country’s GDP showed a 3.82 per cent growth in Q1 2020. Founder and CEO of Asia Bankers Club, Kingston Lai comments in regards to Vietnam’s economic performance, “With the worldwide economic recession, rapid economic changes, and a negative growth trend, Vietnam’s performance shows bright prospects. As Vietnam becomes one of the first few countries to emerge from the virus, the Vietnamese economy is ready for a V-shaped economic rebound with an influx of foreign capital.”
At a recent government meeting, Prime Minister Nguyen Xuan Phuc stated that Vietnam’s GDP must hit and excel 5 per cent in 2020, much higher than the 2.7 per cent the International Monetary Fund forecasted, showing positivity and confidence in Vietnam’s strong economic re-emergence.
US-China relation intensifies as Trade War resumes
The trade war has kept the bilateral relationship between the US and China at a standstill, in which the coronavirus crisis has further intensified the relationship. The US Trump administration has considered restoring trade tariffs on China to hold the country accountable for the virus and threatened to annex trade agreements with China. In light of the trade war and pandemic, Vietnam has become a strong contender for manufacturers to avoid future trade tariffs.
Investment prospects under short supply
Vietnam ’s economic performance will surpass other Southeast Asian countries. The prospect of the real estate market is equally as promising. Golden Emperor Properties Managing Director Terence Chan gives his insights, “the shift of multi-national companies to Vietnam has resulted in an expanded pool of local and expat professionals, who look for high-quality and primely-located homes. Commercial districts with injected foreign capital and districts with new MRT lines promise a lucrative prospect for international investors. In Hanoi, lakeside properties in Hoan Kiem Lake, West Lake, and the city’s ‘new West Lake’ Yen So are favoured by the middle-class and foreign investors.”
About Gamuda Land
Established in 1995, Gamuda Land is a stock exchange listed corporation based in Malaysia. Its market value, in 2017, is estimated to be $13 billion ringgits ($3.3 billion USD). The corporation’s wide spectrum of business scope includes construction on MRT infrastructure, freeways, airport runways, railways, tunnels, sewage plants, and reservoirs and dams. Gamuda Land specializes in developing integrated townships. Many prominent projects in Malaysia are constructed by Gamuda Land: the SBK railway, LDP freeway, and a smart tunnel which is used as a city drainage and vehicle bypass. The corporation leads in architectural technology worldwide. It has also built large infrastructures and property projects in Vietnam, Australia, Taiwan, India, Singapore and Bahrain, building upon its already existing reputation across the industry worldwide. http://gamudaland.com.vn/
About Golden Emperor Properties (Hong Kong) Limited
Golden Emperor Properties (HK) Limited is a Hong Kong-based company that offers international properties to clients in Hong Kong and globally. The company works with property developers from Thailand, Vietnam, Japan, Malaysia, the United Kingdom, USA, Australia, Europe, and many others. The company has a team of dedicated sales agents that can provide consultancy and information on relevant transaction-related topics such as taxation, sales & purchase procedures, payment schedules, and many others. http://www.goldenemperor.com
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