The southern economic hub of HCM City has been ranked 32nd on a list of the 65 best main streets in the world in Cushman & Wakefield's 27th "Main Streets Across The World" report.
HCM City (VNA) – The southern economic hub of HCM City has been ranked 32nd on a list of the 65 ﷽best main streets in the world in Cushman & Wakefield's 27th "Main Streets Across Tꩲhe World" report.
The report tracks over 500 of the top retail streets around the globe, ranking the most expensive in each country by their prime rental value.
It shows that rents have risen in 35 percent of streets around the world, despite the increased global uncertainty experienced over the last 12 months.
HCM City has rental costs of 1,454 USD per square foot per year in what is described as "Prime High Street", which includes Dong Khoi, Le Loi, Nguyen Hue and Le Thanh Ton streets in District 1.
In Southeast Asia, the rate comes after Singapore's Orchard Road of 3,254 USD. Thailand's Central Retail District has a rental cost of 1,212 USD per square foot per year.
Hong Kong's Causeway Bay leads in Asia with 23,178 USD.
The world's most expensive road is Upper 5th Avenue (49th - 60th Sts) in New York, with 33,812 USD.
According to the report, Vietnam's growth of the retail market and entrance of international brands is underpinned by rising average incomes as well as more stable economic conditions, which are providing a boost to retail sales.
This is further bolstered by a growing e-commerce sector that is capturing a larger share of overall retail activity, although there remains an appetite for consumers to visit physical stores.
The liberalisation of the country's retail market in 2009 "saw the entrance of a number of foreign brands and a wave of expansion efforts by domestic firms in an attempt to maintain a presence in the market," the report said.
The most dynamic segments at the moment are F&B and consumer products.
"Within five to seven years, about 1.5 million square metres of retail floor space will enter HCM City's market, bringing the total surface area to 2.5 million square metres," said Vo Thi Phuong Mai, representative of Cushman & Wakefield's retail department.
She added that in the context of the country joining free trade agreements like the AEC and TPP, domestic retailers will face many difficulties as rental costs are the second most important factor in trading strategy, just after location.
"Foreign retailers with strong financial resources will be able to afford to rent space in the most prime locations in the market," Mai said.-VNA
The HCM City People's Committee has approved the detailed master plan for the Saigon – Ba Son complex in District 1 to be developed by the Ministry of Defence-owned Ba Son Corporation.
The HCM Stock Exchange is developing new sector indexes based on the Global Industry Classification Standard (GICS) and will introduce them in the first quarter of next year.
Ho Chi Minh City expects its gross domestic product (GDP) growth rate at 9.8 percent in 2015, according to the municipal Department of Planning and Investment.
The festival highlighted the contributions and robust development of Vietnam's revolutionary press over the past century while promoting press products and showcasing the creativity of Vietnamese journalists.
The programme on sustainable poverty reduction has achieved its annual targets for reducing the poverty rate as assigned by the National Assembly and the Government. It has fulfilled five specific objectives and five five-year goals, and met nine out of 12 indicators related to addressing basic social service shortages.
UNICEF stands ready to support the Government in implementing this important law and in continuing to invest in teachers as the cornerstone of a resilient, inclusive, and high-quality education system for all children.
PM Pham Minh Chinh highlighted how Vietnam's revolutionary press has continuously evolved and strengthened over the past century, affirming its role as a sharp and vital political, cultural, and ideological weapon serving the Fatherland and the people in the glorious revolutionary cause of the Party.
Vietnamese Consul General in Fukuoka Vu Chi Mai highlighted the growing demand for Vietnamese workers in Kyushu, especially in Fukuoka, Oita, and Saga prefectures. Currently, the region employs about 35,000 Vietnamese manual workers and over 5,000 IT engineers.
In Vietnam’s case, she said, President Ho Chi Minh demonstrated his strategic vision by founding the revolutionary press a century ago. The late leader understood the press's role not only as a means to reflect the country’s realities but also as a powerful tool to strengthen national unity and inspire the resistance wars and national construction process.
In recent interviews granted to the Vietnam News Agency (VNA)'s reporters in Mexico, prominent figures reflected on the press’s legacy and its global influence.
VietnamPlus e-newspaper of the VNA clinched an A prize in the “Outstanding Press Product” category for its immersive 3D multimedia project, “Epic of Reunification,” a groundbreaking blend of storytelling and technology. The VNA won another A prize for its eye-catching exhibition booth.
Today, the press for foreign service has evolved into a distinct, irreplaceable force, bridging Vietnam with the world and portraying a nation that is stable, peace-loving, and fully integrated into the international community.
At a review conference held on June 21, Deputy Minister of Construction Nguyen Van Sinh praised the province’s scientific, coordinated, and flexible approach. He noted that the early completion reflects the strong commitment of local authorities, the business community, philanthropists, and residents in improving housing conditions for disadvantaged groups.
The VNA delegation, led by General Director Vu Viet Trang, actively participated in the event, engaging in both professional and diplomatic activities.
In the context where AI dominates and produces vast volumes of content, the only sustainable path forward for journalism is to focus on high-quality content and core values. Journalism must redefine its mission - not to report the fastest, but to provide the most profound and trustworthy value.
Granma and the VNA have great potential for cooperation, especially in sharing content regularly, so that VNA products are published on Granma platforms and vice versa, thereby helping Cuban and Vietnamese people access true information and gain a deep understanding of each other's country and people.
During his stay in China’s Guangzhou city from 1924 to 1927 to prepare for the establishment of a Communist Party to lead Vietnam’s revolution, President Ho Chi Minh founded “Thanh nien” newspaper and released its first issue on June 21, 1925.
Vietnam and Cambodia are hoped to strengthen their robust collaboration across various sectors, particularly in resolving remaining border issues to transform the border area into a zone of peace, friendship, cooperation, and development.
The strategic product, managed and operated by the Vietnam News Agency Digital Media Centre (VNA Media), is an official channel for popularising the Party and State’s information and documents as well as delivering mainstream and trustworthy news to both domestic and international audiences through various kinds of multimedia formats.
Since President Ho Chi Minh founded Thanh Nien (Young People) newspaper in 1925, the Vietnamese revolutionary press has become the voice of the people. During the resistance war against the colonialists, journalists took great personal risks to inspire patriotism and the will of rising up against foreign invaders.
The total investment exceeded 319 billion VND (12.2 million USD), including over 261 billion VND from the state budget and 57.5 billion VND mobilised from businesses, organisations, and individuals.
The Mekong Delta province of Tien Giang is intensifying efforts to combat illegal, unreported and unregulated (IUU) fishing as part of the country’s goal of having the European Commission’s “yellow card” warning lifted.
Nguyen Hue Pedestrian Street. (Photo: zing.vn)
