Market report q3 2021 fin

MARKET REPORT
Q3 2021
Our Professionals Your Success

Content
Part 1: Economic
GDP
CPI
FDI
Trade Balance
Unemployment Rate
VN-Index
Part 2: Real Estate
Apartment
Ho Chi Minh City
Hanoi
Da Nang
Office
Ho Chi Minh City
Hanoi
Da Nang
Retail
Ho Chi Minh City
Hanoi
Hotel
Condotel
Industrial
Part 3: Legal
3
4
5
5
6
6
6
7
8
8
9
9
10
10
11
11
12
13
13
14
14
14
15

Q3 2020 Q3 2021 Change
GDP (%) 2.69 -6.17 8.86%
CPI (%) 3.85 2.51 1.34%
FDI in 9 months (Billion USD) 21.1 22.15 4.4%
Export (Billion USD) 80.07 83.89 4.77%
Import (Billion USD) 68.5 84.55 23.43%
VN-Index (Point) 905.21 1342.06 48.25%
Unemployment Rate 2.29 3.43 1.14%
Due to the serious of the
4th wave of pandemic, the
government has proposed
the plan to recover, which has
been carried out since the
beginning of October and will
be effect until the January.
The Viet Nam’s government
is being balance between
the people’s health and the
development of the economy
to reassure people. In which, the
vaccination program has been
developed throughoutly in 64
cities and provinces in Viet Nam.
There are 24.1% of population
has their 1st shot and 39.6% of
population is fully vaccinated.
This data is still lower than the
other surrounding countries,
however, with the import rate
of vaccine and the quick action
from the Health Ministry, Viet
Nam plans to reach immunity
by early 2022.
While many cities and provinces
had been in social distancing
due to the pandemic since
late May until the beginning of
October, Viet Nam’s economy
has been suffered severely. In
particular, GDP growth rate
in Q3/2021 decreased by 6.17%
compared to same period
last year. On the bright side,
FDI was steadily increasing at
22.15%. This shown that FDI
businesses’ belief in Viet Nam
was still maintained.
TMS Research Team concluded
that based on the market
dynamics, consumption rate
declined strongly, the export
value slightly rised, and the
disbursement of public
investment was low. Meanwhile,
the growth of all most sectors
were negative in Q3/2021,
except healthcare, financial/
banking, and agriculture.
Inflation and interest rate
was stabilized. However, the
unemployment rate growed
notably after many cities
and provinces had to follow
Directives 15 and 16 in this 4th
wave of Covid-19 in Vietnam.
Part 1: Economic
Source: TMS Consultancy, Research
GDP
In the situation of the most serious social-
distancing in the 4th wave of COVID-19,
the GDP growth rate fell significantly 6.17%
compared to the Q3/2020. This was the lowest
GDP quarterly rate in Viet Nam in the last 5
years.
While GDP in 9 months of 2021 only increased
by 1.42% over the same period last year, the
agriculture, forestry and fishery sector played
theroleofapedestaloftheeconomyduringthe
pandemic. The agricultural sector increased
by 3.32%, contributing 0.31 percentage points
to the growth rate of total added value of the
whole economy; the forestry sector increased
by 3.3%, contributing 0.02 percentage points;
the fisheries sector increased by 0.66%,
contributing 0.02 percentage points.
Source: GSO & TMS Consultancy, Research
GDP PERFORMANCE Q3 2021
GDP GROWTH RATE BY SECTORS
Since most of the area has lifted the Decision 16, TMS Research
Team expected a strong come back from the Viet Nam’s
economy in Q4/2021 and early
2022. Based on the events been
going on the last few months, TMS
Research Team has forcasted the
GDP growth rate for 2021 will be
between 2% and 4%.
GDP GROWTH RATE (%)
Market Report | Q3 2021
3 4

FDI
In this quarter, FDI growth rate increased
at 4.4% Y-o-Y. This news brought a
positive vibe among the depressed news.
According to The General Statistics Office
(GSO), foreign direct investment (FDI) in
nine months of 2021 in Vietnam reached
22.15 billion USD. There were 1,212 newly
licensed projects with a registered capital
of 12.5 billion USD, decreasing 37.8% in
the number of projects and 20.6% Y-o-Y
of registered capital. This showed that
international investors still have beliefs in
the development of Vietnam.
In Q3/2021, Singapore, Japan, Hong Kong,
China, Korea & US contributed much to
FDI’s Vietnam. In detail, Singapore was
more prominent than the others with a
total newly registered investment capital
of the Q3/2021 about 4.98 billion USD.
As the chart showed, Ho Chi Minh City
ranked number 10 with the registered
capital of 380.25 million USD. One of
the cities/provinces, Long An province,
attracted 3.37 billion USD, ranked number
1. It’s followed by Can Tho province with the
registered capital of 1.31 billion USD.
VIETNAM UNDEREMPLOYMENT RATE (%)
Source: GSO Vietnam
EXPORT & IMPORT OF GOODS BY QUARTER (2016 -2021)
Trade balance
Although the Covid – 19 affected
strongly, in Q3/2021 export turnover
reached 83.89 billion USD, went up
5.2% Y-o-Y. Import turnover reached
84.55 billion USD, rose by 22.6%
Y-o-Y. The trade balance in Q3/2021
witnessed the trade deficit of 657
million USD.
China continued remaining the
largest import market of Vietnam
with the turnover of 81.3 billion USD,
and went up 41.2% Y-o-Y. It’s followed
by the Korean market with 40.3
billion USD, jumped up by 21.6% and
ASEAN market ranked number 3
with 30.7 billion USD.
Vietnam’s government has
prioritized vaccinating workers at
factories, from Samsung in the north
to Intel and garment factories in Ho
Chi Minh City. As the virus outpaces
the vaccination effort, the race is on
among importers of Vietnamese
products to ensure there’s enough
that will arrive before the year-end
rush.
5 6
CPI
The General Statistics Office (GSO) has
published a number of socio – economic
situation figures for Q3/2021 and nine
months of 2021. In the circumstance of 4th
Covid – 19 have been strongly spreading
and it caused the consumer price index
(CPI) in Q3/2021 increased by 2.51%. The
average CPI of nine months in 2021
increased by 1.82% Y-o-Y.
Vietnam’s Inflation rate has been stable
for the last 5 years due to the control
of the government which is keeping
inflation lower than 4%. Compared to other
countries in Southeast Asia, Vietnam’s rate
is moderate, which has shown the steady
movement in the country’s economic.
Source: GSO Vietnam
CPI VIETNAM BY QUARTER (2016 -2021)
INFLATION RATES IN SOUTHEAST ASIA (2017 - 2021F)
FDI PERFORMANCE Q3 2021
VIETNAM’S FDI BY PROVINCES Q3 2021
VN – Index
At the end of September 30, the VN – Index reached 1,342.06
points and the HNX – Index closed at 357.33 points. The average
points of the VN – Index in Q3/2021 reached 1,342.06 points, up
about 49% Y-o-Y. Besides, the stock prices of steel, real estate,
banks and consumer goods remained on top in this quarter.
When the situation of the pandemic of Covid-19 is controlled
well, businesses will return to normal pace. Our TMS Consultancy
Company’s Market Research Team believes that the target of
VN – Index will go up and exceed 1,400 points.
Unemployment Rate
Thecomplicateddevelopmentsofthe
Covid – 19 pandemics had negatively
affected the labor situation. In
Q3/2021 the labor force working
sharly decreased Q-o-Q and also
Y-o-Y. Generally, the unemployment
rate increased by 3.43% Y-o-Y, of
which the unemployment rate in the
urban and the rural was 3.58% and
2.15% respecttively.
From the beginning of October/2021,
the labors are expected to get back
to work after the Decision 16 is lifted
and each person has at least 1 shot of
vaccine in order to travel and work.
Source: Cophieu68 & TMS Consultancy, Research
VN-INDEX Q3 2021

7 8
ROA & ROE OF TYPICAL REAL ESTATE COMPANIES Q3 2021
Part 2: Real Estate
The 4th Covid – 19 epidemics substantially impacted the economy
in general, especially on the real estate market. Under the impact
of Covid – 19, capital inflows into real estate slowed down; supply
and transaction such as apartments, offices, land plots, and
commercial were plunged. The hotel and condotel were frozen
because service activities were delayed. Moreover, many projects
were delayed for the selling plan.
Through the chart of average apartment prices, the
market in Ho Chi Minh City had the highest price among
the three major cities in Vietnam. However, this chart
shows us that the average cost of apartments in these
three markets decreased by less than 5% compared to
the same quarter last year. Not only did the average price
decrease, but the supply of the markets also reduced due
to the impact of the outbreak, which delayed the market
supply. In addition, the ability to absorb the market also
decreased because investors and buyers were more
careful in buying during this time.
In HCMC, the number of sold units in Q3/2021 decreased
by 52% Y-o-Y. The average asking price was 2,830 USD/
sqm, downed to 4.5 – 4.7% Y-o-Y. However, all segments
witnessed positive price growth in the future when the
luxury segment went up to 3 – 5% Y-o-Y and the other
two remained at 4% Y-o-Y. Later, HCMC will have about
6,000 units new-launched.
The performance of the average asking price in the east
had been still leading in the areas in Ho Chi Minh City, and
the average asking price was over 3,000 USD/sqm. And
the segment of luxury apartments was still in the eastern
area. The average asking price of the north and west areas
was still over 1,000 USD/sqm. Yet, Our TMS Consultancy
Company’s Market Research team believes that
the average asking price of apartments will tend to
increase by over 10% in the Northwest because the
traffic infrastructure is gradually improving to connect
to the center and critical locations of Ho Chi Minh City.
And other areas also will increase from 5% to less than
10% depending on the location of the project because of
high land prices and the cost of construction materials,
and also labor costs tend to increase soon.
In addition, the future supply of apartments will be
about 6,000 sqm in Q4/2021 if the epidemic situation is
well controlled.
Apartment Average Price by Area HCMC
Q2 2021
FDI BY SECTORS Q3 2021
HCMC APARTMENT SUPPLY | Q3 2021
To see about the real estate industry, our TMS Consultancy
Company’s Market Research team collected and analyzed many
businesses belonging to the real estate industry through ROA
and ROE ratios, as shown in the chart below:
REAL ESTATE VN-INDEX Q3 2021
In addition, VN-index of real estate sector demonstrated well its
circumstances in the market.
The chart on FDI
shows us that
the real estate
industry accounts
for about 16%.
Ho Chi Minh City
HCMC APARTMENT ASKING PRICE BY AREA
Q3 2021
APARTMENT
HCMC
Hanoi
Da Nang
: 4.5 - 5.0% Y-o-Y
: 3.5 - 4.0%Y-o-Y
: 4.0 - 4.5%Y-o-Y

OFFICE
In general, the situation in the office segment is on a
downward trend. The average rental price of the office
market in Da Nang decreased more sharply (over 5%)
than the other two big cities of Vietnam: Ho Chi Minh
City and Hanoi City. The occupancy rate in Da Nang was
also the lowest among the three big cities of Vietnam.
However, the decrease in office prices was due to the
impact of the general situation of the 4th pandemic
outbreak. Thereby, the buildings’ policies had to reduce
the average leasing price to provide additional support
for tenants. And in addition, some businesses could not
stand it, so they had to leave Grade A and B offices to
switch to Grade C offices or flexible forms of offices to
maintain their stable business operations during this
time. Yet, soon, the average leasing prices of offices will
stabilize and tend to increase slightly due to increased
land prices and construction costs.
No Project Name Address Grade Structure
NLA
(sqm)
Expected
Price (USD/
m2/month)
1 D’. Saint Raffles
No. 43-47 Nguyen Thi Minh
Khai, Ben Nghe ward, Ddistrict 1
A
19 storeys, 6
basements
30,000 40
2 Empire 88 tower
Empire city urban area, Thu
Thiem Ward, Thu Duc City
B 10,500 35
3 Cobi Tower 2
B street, Tan Phu Ward, District
7
B
17 storeys, 2
basements
17,527 23
4 V Plaza Tower
Nguyen Van Linh street, Tan
Phong Ward, District 7
B
4 block, 27
storeys
66,000 25
5 E town 6
No. 364 Cong Hoa, Ward 13, Tan
Binh District
B
16 storeys, 7
basements
35,000 20
In Q3/2021, there was not any new supply in HCMC. The
average rent of grade A and grade B decreased over 5%
Y-o-Y and 3.5% Y-o-Y. The occupancy rates of grade A
and grade B were over 80% and 85% because most staffs
work from home. At the end of 2021, the office market in
HCM is expected, with a total supply of 35,000 sqm NLA
of three new grade B projects.
9 10
Hanoi
In Da Nang, the average market price in Q3/2021
decreased by 4 – 4.2% Y-o-Y. This quarter witnessed
a reduction in three segments’ prices. In specifically,
the luxury segment’s rate went down 4.1% Y-o-Y
while high–end and mid-end’s decreased 3.5 – 3.8%
Y-o-Y.
Through the chart of the average asking price, we
collected information on the average asking price of
apartments in Q3/2021 of Danang city. In Da Nang,
the average asking price of apartments in Linh
Chieu District was still leading (over 2,000 USD/sqm)
compared to other districts. And among them, the
lowest average apartment price was in Thanh Khue
District.
However, with the situation of housing demand,
the supply, as well as the price of apartments in Da
Nang, is expected to increase by about 3% - 5% in
the coming time.
In Hanoi, sold units in Q3/2021 reached about 3,000
units, reduced 30% Y-o-Y. The average asking price
was 1,850 USD/sqm, which decreased 3.5 – 3.7% Y-o-Y.
In the future, the level of new launches is expected
to be about 4,000 units.
The products hitting the market were primarily
high-end and mid-end apartments, while affordable
apartments became scarce. This scarcity has pushed
the asking price to 1,511 USD/m2, increasing about 2%
- less than 3% of Q-o-Q and 14% of Y-o-Y.
AccordingtotheresearchteamofTMSConsultancy
Company, we realize that the apartment market
in Hanoi has much potential, and especially the
average asking price of apartment projects in
some districts near the center will increase over
10% due to increased housing needs, construction
costs increase and add to the increase in land
prices. In addition, to meet the demand, the
supply will add about 7,900 apartments in the
Hanoi market from 11 new projects and the next
phase of 2 existing projects by the end of 2021.
HANOI APARTMENT SUPPLY Q3 2021
HANOI APARTMENT AVERAGE PRICE Q3 2021
DA NANG APARTMENT ASKING PRICE BY
AREA | Q3 2021
OFFICE AVERAGE RENTAL PRICE
Q3 2020 vs Q3 2021
HCMC OFFICE PERFORMANCE Q3 2021
The new supply of
offices in Ho Chi Minh
City in the near future
is shown in the below
table. It is estimated
that the NLA of new
supply of office is
about 160.000 sqm.
Da Nang
Ho Chi Minh City
HCMC
Hanoi
Da Nang
: 6.5 - 6.8% Y-o-Y
: 1.2 - 1.5% Y-o-Y
: 8.0 - 9.0% Y-o-Y

11 12
Project Name
2020
(9 months)
2021
(9 months)
%Y-o-Y
Gross retail sales of consumer
goods and services
3,657,736 3,353,263 -8.3%
Retail sales of consumer goods 2,901,604 2,770,437 -4.5%
Accommodation and food services 362,920 273,712 -24.6%
Tourism 14,198 4,602 -67.6%
Other services 379,014 304,511 -19.7%
Hanoi office market in Q3/2021 welcomed one grade A project. Grade A and Grade
B office rents reached 30.5 USD and 18.2 USD/sqm/month, decreased 1.4% Y-o-Y. The
occupancy rate of grade A and grade B were 81% and 85% due to outbreaking of Covid
– 19, Hanoi had to social distancing.
No Project Name Address Grade Structure
NLA
(sqm)
Expected
Price (USD/
m2/month)
1 Lotte Mall Hanoi
Vo Chi Cong Street, Phu
Thuong Ward, Tay Ho District
A
21 storeys, 2
basements
78,376 31 - 36
2
Horison Tower - 36
Cat Linh
36 Cat Linh, Dong Da District A
8 storeys, 5
basements
16,000 25 - 29
3 Lancaster Luminaire
1152 - 1154 Duong Lang, Lang
Thuong Ward, Dong Da District
A
25 storeys, 4
basements
20,600 15
4 Epic Tower 19 Duy Tan, Cau Giay District B
30 storeys, 4
basements
25,000 25
5 Oriental Sun Tower
198 Tran Quang Khai, Hoan
Kiem District
A
21 storeys, 4
basements
19,200 37 - 45
In Q3/2021, the Da Nang office market witnessed a reduction in rent price. Specifically,
Grade A and Grade B office rents decreased 7.5% Y-o-Y and 3.8% Y-o-Y. The occupancy
rate of grade A and grade B were 85% and 87%.
Not only the average rental price optimistically climbs up, but the occupancy rate also
recovers since Viet Nam has temporarily controlled the pandemic. Danang Market is
promising for investors or developers who will invest there because this market has
much potential development soon when the pandemic of Covid-19 is well controlled.
HANOI OFFICE PERFORMANCE Q3 2021
DA NANG OFFICE PERFORMANCE Q3 2021
RETAIL SALES OF GOODS AND SERVICES
In general, the field of retail sales decreased compared to the same year as
our data collected, in which the tourism sector decreased over 67% Y-o-Y
due to being heavily affected by the pandemic of Covid-19. Because the
number of domestic and foreign tourists coming to Vietnam fell sharply.
GROSS RETAIL SALES OF CONSUMER GOODS AND SERVICES IN
VIETNAM | 01/2020 - 09/2021
And the new supply of offices is shown in the below table:
The performance of average
rental prices for offices in Hanoi
will not change much soon.
Typically, gross retail sales of consumer goods and services reached over
3,353 trillion VND (-8.3% Y-o-Y) and 915.72 trillion VND in the Q3/2021 (-28.3%
Y-o-Y, -21.4% Q-o-Q).
The Covid-19 epidemic has affected the industry since May/2021 - the 4th
outbreak with more strains and complicated infections. Gross retail sales
of consumer goods and services have declined during five months of
social distancing, especially Accommodation and food services, Tourism,
and Other services. Gross retail sales of consumer goods and services
sharply decreased in August (-34% Y-o-Y) and also in April last year (-26%
Y-o-Y) according to our TMS Consultancy Company’s chart.
In September 2021, gross retail sales of consumer goods and services have
gradually recovered. If the epidemic is controlled well in the fourth quarter
of 2021, our TMS Consultancy Company’s Market Research believes that
the retail industry will soon turn around and achieve a growth rate of
about 5-6%.
The epidemic has remained continuously, so consumers’
spending plans have tended to change in their spending.
They have only bought essential items to meet their
disposable income and needs. Other things such as
entertainment or restaurants were deeply affected because
these weren’t essential.
Moreover, according to Deloitte’s survey, most consumers
reduced non-mandatory spending and increased
spending on essential products when social distancing was
implemented as our Government’s notifications. Typically,
Expenditure on packaged or canned foods significantly
increased by 84% and 70%, respectively. In contrast,
spending on leisure & holidays, dining out, karaoke &
nightclubs all decreased by over 80%. In the medium and
long term, opportunities for non-essential retailers will
increase better to meet our lifestyle demands.
CHANGES IN PLANNED MONTHLY HOUSEHOLD
EXPENDITURE AS A RESULT OF COVID-19
With all the above information analyzed, how are the
average rental price and occupied rate of the Retail sector?
In the condition of market activity, the ground floor and first
floor asking rents in non-CBD shopping centers continued
to decline slightly as some projects with high vacancy rates
reduced prices to retain tenants, and such as supporting
tenants due to the current complicated epidemic situation.
Hanoi
Da Nang
RETAIL

13 14
INDUSTRIAL
Next, how were the leasing Price and occupied rate in Q3/2021
of Vietnam’s Industrial Parks? Vietnam’s Industrial Parks had
been spread out and concentrated with three administrative
regions – the Northern, Central, and Southern Region. Each area
had its characteristics as well as unique incentive programs, so
the leasing price and occupied rate were different as the below
chart:
Our country’s highest average leasing price remained in two
big cities: Ho Chi Minh City and Hanoi; the followings were Binh
Duong, Dong Nai, and Hai Phong city. The average occupied
rate of the industrial parks in some cities and provinces
exceeded 90%, they were HCM, Binh Duong, Bac Ninh, and
Dong Nai. However, the average occupied rate of the southern
region was higher than the northern region because the new
land was relatively rare. These are showed on charts collected
by TMS Consultancy’s Market Research team.
Among the IPs of the cities and Provinces, Bac Ninh and Hai
Phongcitywerepotentialcitiesinthenorthernregionsoon.The
average leasing price of two cities/provinces was increasing over
5% q-o-q. The infrastructure of the north area was developing
quickly, and the location was one of its advantages because it
is near China and could benefit from their factories relocated.
With that said, Our TMS Consultancy Company’s Research
team believes that industrial real estate would tend to
develop well in Vietnam next time.
In Ho Chi Minh City, the total retail supply is 1,068,128
m2. Despite being affected by the epidemic, the
average rental price in CBD remained stable at 137
USD/m2/month compared to the previous quarter and
increased by 1.2% Y-o-Y, but developers had to offer
more incentives for retailers. For the non-CBD area,
the rental price decreased by 3.8% Q-o-Q and reached
32.6 USD/m2/month.
In Hanoi, the occupancy rate was relatively lower
than HCMC. The asking price in both areas decreased
compared to the previous quarter, specifically,
averaging 24 USD/m2/month (-4% Q-o-Q) in the non-
CBD area and reaching 103 USD/m2/month (-1% Q-o-Q)
in CBD.
The retail segment of two big cities: Hanoi and Ho Chi
Minh, both were affected by the general outbreak.
However, this time was also an opportunity for
potential financial businesses to expand their scale
and occupy the best positions. Foreign brands have
market penetrated through domestic partners despite
the pandemic border closures.
CONDOTEL
The average rental price and the occupancy rate
of the condotel in this quarter decreased about 9 –
10% Y-o-Y. In Q3/2021, the condotel market did not
record any new supply.
In general, the tourism market in Viet Nam is
still in doubt although the vaccine visa which has
been avaible since the beginning of 2021. However,
due to the complicated situation of the pandemic
from May 2021, international travellers still hesitate
to visit Viet Nam. Therefore, TMS Consultancy
Research Team expects this sector will have a
positive sign in the end of 2021 and the early of
2022.
HCMC & HANOI RETAIL | Q3 2020 vs Q3 2021
HCMC RETAIL RENTAL PRICE 2019 - 2021
HANOI RETAIL RENTAL PRICE 2019 - 2021
HOTEL
The average rental price of hotels in all cities/
provinces decreased dramatically, over 10% Y-o-Y.
Besides, 4-stars hotels fell by 7 – 8% Y-o-Y, and
5-stars ones fell by 10 – 10.5% Y-o-Y. Not only the
rental price of hotels decreased, but the occupancy
rate also decreased sharply because this segment
was strongly affected by the 4th outbreak. Thereby,
the number of domestic and foreign tourists had
been limited to the minimum in business trips and
leisure activities had been temporarily suspended
during this period.
HOTEL AVERAGE RENTAL PRICE Q3 2021
CONDOTEL AVERAGE RENTAL PRICE Q3 2021
INDUSTRIAL PARK AVERAGE LEASING PRICE
Q3 2021
IPS PERFORMANCE BY VIETNAM PROVINCES
Q3 2021
Moreover, the Covid-19 disease has changed both consumer behavior and
the retail market. Since the outbreak in May, except for stores selling essential
products, many businesses have had to close or return premises or downsize
their businesses. Hanoi and Ho Chi Minh City also did not record any new
development in Q3/2021. This 4th outbreak
has delayed new collections for the retail
market. The potential new supply of Ho Chi
Minh City is mainly in the new city, Thu Duc
City, expected to be released in 2021.
Ho Chi Minh City
Hanoi
10 - 11% Y-o-Y
9 - 10% Y-o-Y
3 - 5% Y-o-Y

For more information:
Suite 6.04, Nam Viet Building 09 Phan Ke
Binh, Da Kao Ward, District 1, HCMC
+84 906 787 134
info@tms-investment.com
www.tmsconsultancy.com.vn
TMS Consultancy
Our Services:
Valuation Advisory
Investment Advisory
M&A Advisory
Taxation Advisory
Market Research
Leasing Advisory
HIEU DO
Head of Valuation & Investment
+84 907 492 025
hieu.do@tms-investment.com
LE QUOC HUNG
General Director
+84 906 787 134
hung.le@tms-investment.com
GENNIE PHAM
Market Research Director
+84 976 917 368
gennie.pham@tms-investment.com
Part 3: Legal
The main government board has regulated by Decree
No. 54/2021/ND-CP on preliminary environmental impact
assessment. This decree is a detailed PROVISION on an initial
environmental impact assessment; applicable to agencies,
organizations, and individuals participating in or related to
investment activities, public investment, investment in the
form of partnership, construction consultancy, and issuance
of investment certificates, except for the case of granting
an investment registration certificate at the request of the
investor.
The Government has issued Decree No. 69/2021/ND-
CP regulating the renovation and reconstruction of
apartment buildings. This Decree details the renovation and
reconstruction of apartment buildings specified in Article
110 of the Law on Housing.
As for the interest rate on loans to buy social housing, on
April 22, 2021, the State Bank issued Decision No. 697/QD-
NHNN on interest rates for loans to buy, rent, and buy social
housing, building new or renovating, repairing houses for a
living is 4.8%/year
The Ministry of Construction has issued Circular No. 01/2021/
TT-BXD stipulating QCVN 01:2021/BXD national technical
regulations on construction planning; Circular No. 02/2021/
TT-BXD on QCVN 06:2021/BXD on national technical
regulations on fire safety for houses and works; Circular No.
03/2021/TT-BXD on QCVN 04:2021/BXD National technical
regulation on apartment buildings
The Ministry of Construction. has issued Circular No.
06/2021/TT-BXD stipulating the decentralization of
construction works and guiding their application in
managing construction investment activities. This Circular
detail the classification of construction works and guides the
application of construction work grade in the management
of construction investment activities as prescribed in Clause
4, Article 5 of the Law on Construction 2014, amending and
supplementing Clause 3, Article 1 of the Law amending and
supplementing several articles of the Construction Law in
2020 and Clause 2, Article 3 of Decree 06/2021/ND-CP.

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