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BUSINESS
IN BRIEF 15/6
Vietnamese
products face stiff competition
Although consumer
confidence and trust in Made-in-Vietnam products is on the rise, Vietnamese
businesses still face obstacles to sustainability and stiff competition from
Chinese and Thai entrepreneurs, eager to encroach in the
According to recent
statistics released by the Central Steering Committee for the campaign
“Vietnamese people give priority to using Vietnamese goods”, local products
comprise roughly 80% to 90% of products stocking the local supermarket
shelves.
Additionally, 71%
of Vietnamese consumers say they have faith in the high quality of Vietnamese
supermarket products.
However, the
Ministry of Industry and Trade (MoIT) reports that sustainability for Vietnamese
products is not assured and the import of Thai products is on the rise,
ranking third in the local market just after Vietnamese and Chinese products.
The Committee
reports that Vietnamese products are also showing weakness in the electronics
retail market as imports from
Vu Thi Kim Hanh –
President of the Business Association of High-Quality Vietnamese Goods, said
that to more effectively compete, local businesses should renovate
technologies and devise improved strategies on marketing, distribution and
advertising.
In particular, an
improved strategy on the distribution of products is critically important,
insuring that goods are distributed to remote areas throughout the country as
well as the more populated urban areas, Hanh said.
Deputy Minister of
Industry and Trade Do Thang Hai stated that the Ministry has
coordinated with relevant ministries and localities to implement improved
forecasts of the market and prices of essential goods.
However, to help
Vietnamese products secure a solid foothold in the market, it is necessary to
raise public awareness and Vietnamese producers should improve competitive
edge, and cooperate with distributors to insure goods are effectively
distributed throughout the country, Hai said.
First-ever
BPO development centre opens in Danang
According to the
Danang Today online, before the new centre began operating, its employees
were sent to the GROP Company for training and internship.
Its first project
is to implement a customer information management system for one of the
largest restaurant chains, with over 700 outlets, in
In the near future,
the centre aims to attract customers in
The centre is
expected to earn US$1 million in revenue by late 2015.
BPO is an
inevitable development trend in the era of globalisation. It is predicted to
become one of the top technology trends because it is suitable for the wave
of global labour division.
Finland
looks for new partnerships in Vietnam
Deputy Director
General for the Department of Asia and the
The visit is also
part of the framework of
During the visit,
Rotinen held official negotiations with the Ministry of Planning and Investment
on
Together with
Ambassador of Finland to
The topics of
development cooperation and strengthened business ties are tightly
intertwined, as the relationship between
In the second phase
of the development cooperation project Innovation Partnership Program (IPP),
The fast
development of
WB approves
US$500 million credit to
The World Bank’s
Board of Executive Directors recently approved a US$250 million credit to the
Government of Vietnam, for the Second Economic Management and Competitiveness
development policy operation (EMCC-2).
The credit aims to
support the Government’s economic management reforms to enhance the country’s
competitiveness.
The EMCC-2 is
focused on strengthening financial sector governance and fiscal
management for macroeconomic stability; enhancing public administration, SOE
management, and public investment management for more transparency,
efficiency and accountability in the public sector; as well as reforming tax
and procurement policies and reducing administrative burdens to create a more
enabling business environment.
“This program
supports reforms that should help address some of the binding constraints to
private sector investment. Promoting a stronger role for the private
sector in the economy is critical for
In another
development, the WB’s Board of Executive Directors also approved a US$250
million credit to fund the Results-Based National Urban Development Program
in the Northern Mountains Region (RBNUDP-NM), using an innovative approach to
financing that links funds directly to results.
Seven cities in the
“The growing urban
centers in
Cities
participating in the Program will receive funds for specific measures to
enhance their management capacity and for developing local infrastructure
such as roads, bridges and drainage, as well as for upgrading low-income
areas. The Ministry of Construction will coordinate and oversee the Program
and provide technical assistance to the participating cities.
Overall
planning for southern economic zones announced
The Ministry of
Planning and Investment recently announced overall development plans for two
southern economic zones through to 2020, which are focused on expanding key
fields and boosting GDP growth.
Under the plans,
approved by Prime Minister Nguyen Tan Dung, the Southern Key Economic Zone is
expected to lead localities throughout the country in broadening electronics
and software production and a range of services, including trade, logistics,
finance, telecommunications and tourism. These are expected to boost national
socio-economic development.
The zone targets
GDP growth ranging from 8.5-9% in the 2016-2020 period. The
industry-construction-service sectors will account for 95-96 percent of the
GDP.
The GDP per capita
will reach US$3,900-4,000 by 2015 and over US$5,000 by 2020. The figure is
expected to climb to US$12,200 by 2030.
The zone groups
Meanwhile, the
Mekong Delta Economic Zone, constituted by Can Tho city and the three provinces
of Ca Mau, An Giang and KienGiang, will be developed into a large-scale
tourism and service centre in
At the announcement
ceremony, Deputy Minister Dang Huy Dong required the aforementioned
localities to work more closely with ministries, agencies and research
institutes to specify the investment in key fields and utilise policies and
mechanisms in realising the goals in a flexible manner.
Ministries and
agencies should direct the localities to step up their key programmes and
projects, particularly traffic and irrigation systems and those designed to
cope with climate change, the official added.
Rice
exports to China up in volume, value
Vietnamese rice
exports to
The price of rice
also rose 4.4%, hovering around US$456.19 per tonne on average.
The Vietnam Food
Association (VFA) forecasts
A group
representative announced that Interbank payments between Vietnam and Russia
hit more than US$4 billion in 2013 and more than US$1 billion in the first
quarter of this year.
Studies show that
accelerating the settlements of payments has a positive impact on gross
domestic product of a country, the representative said.
At the meeting,
Deputy Governor of State Bank of Vietnam Le Minh Hung and Deputy Governor of
the Central Bank of Russia Skobelkin Dmitry exchanged views on the operation
of the two countries’ banking system and the implementation of reached
agreements.
The Russian side
was committed to encouraging its commercial banks to use available tools for
boosting bilateral payment, especially national currency and retail payment
methods.
The two central
banks will increase information exchange on related policies, particularly
the development of the Russian payment system and experience in using local
currency in payment with
They pledged to
cooperate in developing infrastructure for credit payment links, building
Vietnam-Russia information gateway, using national currency in payment and
encouraging commercial banks to accelerate payments through accounts, credit
and money transfer.
The two sides
signed the minutes of the meeting and agreed to hold the following session in
Samsung
invests over US$1 billion in
Vice Chairman of
the municipal People’s Committee Le Manh Ha said the decision by Samsung to
proceed with the project is a strong signal that investor confidence remains
unaffected by recent social disorder, which sprung out of the
It demonstrates
investors’ continued faith and trust in the city’s effort to accelerate
administrative reforms, simplify investment procedures and offer incentives
to facilitate foreign businesses operating in the city.
Regarding the
social disorder earlier in May, a number of workers and people demonstrated
against
A handful of
extremists took the occasion to violate the law and vandalize some foreign
direct investment (FDI) businesses, causing property damage and loss of
profits as business had to temporarily shutdown.
The city timely
responded to the incidents, directed forces to take control of the situation,
restoring law and order enabling the business to resume full-unimpeded
operations.
Samsung’s
investment in the electronic factory is in line with the city’s guidelines
encouraging investment in high-tech products so the city will soon complete
procedures, clearing the pathway for the Samsung to proceed, Ha affirmed.
In 2009, Samsung
Group inaugurated a US$2.5 billion factory in Bac Ninh province manufacturing
mobile phones.
In March 2013, it
started construction of a second high-tech complex in Thai Nguyen on 100ha at
a cost of US$2 billion. Once completion, the factory will produce and
assemble mobile phones and other hi-tech products.
Vietnam
endorses investment protection agreement with Palestine
The Government has
approved an agreement on reciprocal investment promotion and protection
between
Under a resolution
dated June 5, the government asked the Ministry of Foreign Affairs to
complete external procedures and inform relevant agencies of the effective
date of the agreement.
The agreement was
signed in
The document helps
create sound legal foundations for the two business communities to expand
investment, stimulate business innovations, generate jobs, and bring quality
products for their consumers.
The two business
circles will have the chance to share investment experience in the areas of
their strength.
A new study on
Crowded Level of retail markets in the Asia-Pacific region by commercial real
estate firm CB Richard Ellis, showed that
The study also
revealed that
This is the third
consecutive year that
The firm said
retailers overall have been focusing on more mature markets that already have
a strong retail footprint. Only one of 19 global cities –
There were 18
mature retail cities on the list in 2013 as compared to 14 in 2012. The firm
defined mature retail cities as those with 25% or more of the 334 retailers
that CBRE tracks.
Hong Kong
group set to further investment in Binh Duong
Hong Kong’s Esquel
Group - one of the world’s leading producers of premium cotton shirts – plans
to expand investment and production in the southern
Esquel CEO and
chairwoman Marjorie Yang revealed the information during a meeting with
Chairman of the provincial People’s Committee Le Thanh Cung last week, during
which she also expressed her hope that the local authorities will work harder
to ensure the legitimate interests for investors operating in the locality.
According to Yang,
Esquel opened three plants in
For his part, Cung pledged
to create favourable conditions for Esquel to foster its production and
investment, vowing to ensure public order and safety for the businesses.
In March this year,
Esquel inaugurated its third garment factory in Hoa Binh province, which is
expected to produce about 7 million shirts for export a year.
Apart from
The group now earns
more than US$200 million each year from exports produced at its factories in
Pilot
programme increases agriculture connectivity
A pilot programme
will aim at financing connectivity models between businesses and farmers in
order to promote high-technology application in agricultural production and
exports.
The State Bank of
Vietnam (SBV), the Ministry of Agriculture and Rural Development and the
Ministry of Science and Technology are considering cooperation on the pilot
programme.
Director of the
Credit Department under the SBV Nguyen Viet Manh stated that there have been
many agricultural production models promoting connectivity between businesses
and farmers across the country.
A number of these
models have proved to be successful, including the large-scale rice field
model in the Mekong Delta province of An Giang and some other localities, the
high-tech vegetable and flower cultivation model in the Central Highlands
province of Lam Dong and the dairy farming and milk product production model
in Nghia Dan in the central province of Nghe An.
Using these models,
businesses have not only created large-scale rice fields and mechanised
agricultural production, but also had stable raw material production areas
and constructed trademarks and geographical indications for their products in
both domestic and foreign markets. The models benefited both farmers and
businesses.
At a government's
regular meeting in February this year, SBV Governor Nguyen Van Binh suggested
the construction of a credit programme for connectivity models and
high-technology applications and farm export promotion projects.
The SBV, the
Ministry of Science and Technology and the Ministry of Agriculture and Rural
Development are working together to survey, research and construct
experimental policies for a large-scale application of this pilot credit
programme.
According to Manh,
the pilot credit programme will reduce the input costs of the products of the
connectivity models by offering preferential credit for the models.
The programme could
provide unsecured loans for businesses and farmers as members of a
connectivity model.
With this pilot
programme, the banking sector can not only increase credit growth related to
agricultural production but also promote large-scale, competitive
agricultural production, contributing to gradually improving farmers' living
standards and constructing and developing new rural areas.
Manh reported that
about 20 connectivity models would be selected as the pilot credit
programme's beneficiaries.
These include the
large-scale rice field model, the product value chain-based connectivity
model and the high-technology application business model, among others, with
priority given to rice, seafood, livestock breeding, vegetables and fruits.
Two years after the
completion of the pilot credit programme, the SBV will consider policy
improvements and multiplication of the models.
Manh added that
agricultural insurance policies, farm produce planning and its management,
farm export promotion and law-based assistance and market information are
important for the success of the pilot credit programme.
Dung Quat
EZ calls for investment worth US$2 billion
The Dung Quat
Economic Zone (EZ) in the central
Pham Nhu So, vice
chairman of the Quang Ngai provincial People’s Committee, who is also head of
the management board of the EZ, says that the EZ will have licensed 125
projects worth US$10 billion by 2015 and another 40-50 projects capitalized
at US$4-5 billion by 2020.
From 2011-2014, the
management board has received more than VND781 billion from the state budget
for infrastructure construction to attract investors.
In the reviewed
period, it has granted investment licenses to 21 projects totaling over
VND15,000 billion (roughly US$730 million), and Quang Ngai is one of the
leading investment attractor in the central region.
So far, Dung Quat
EZ has approved 113 projects with total registered investment capital of more
than US$8 billion.
To lure more
investment, the zone is advised to further improve its investment environment
by upgrading infrastructure and timely addressing investor concerns.
Timber
exports to hit US$10 bln by 2020
Wood and timber
product exports are expected to hit US$10 billion by 2020, according to an
action plan for developing the wood market, approved by the Ministry of
Agriculture and Rural Development (MARD).
Nguyen Ton Quyen,
General Secretary of the Vietnam Timber and Forest Products Association
(Vietfores), believes Vietfores will beat this goal, reasoning that the
Wood and timber
product exports are now fifth among the ten main export industries of
Ministry of
Industry and Trade statistics show that wood and wood product export earnings
reached US$2.42 billion in the first five months of this year, a 17.5% rise
compared to the same period last year.
The US, Japan and
China are Vietnam’s largest consumers of this kind of commodity, making up
66.16% of total export value, with growth rates of 25.58%, 16.96% and 28.78%
respectively.
Over US$200
mln invested in VSIP Quang Ngai
The Quang
Ngai-based Vietnam-Singapore Industrial Park (VSIP) has attracted 8 FDI
projects capitalized at US$200 million in total since it got off the ground
nine months ago.
These projects
focus on food processing, garment making, and footwear manufacturing, with
some having quite high investments.
A case in point,
the
Among the 8
projects, three plants specializing in footwear, garments and food, are under
construction and due to be put into operation this September, creating 5,000
jobs for labourers.
VSIP Quang Ngai has
set a target of generating 20,000 jobs for local people in central
As planned, VSIP
Quang Ngai is divided into two areas: one for production covering
approximately 600 hectares in expanded Dung Quat Economic Zone, and the other
for urban and services centres covering more than 600 hectares along the Tra
Khuc River.
VSIP Quang Ngai is
the fifth Vietnam-Singapore industrial park built in
Taiwanese
investor Chung Jye invests in Hai Duong
The
The US$13 million
shoe factory project will cover nearly 77,757 square metres in Kim Thanh
district. Once finished, the factory is expected to produce around 3.6
million products a year and generate jobs for 2,500 local labourers.
According to
provincial officials, Hai Duong is sparing no effort in collaborating with
ministries and agencies in investment promotion activities to lure funding
from multinational and trans-national groups.
Various incentives
have been given to underway foreign-invested projects, while the province has
eased difficulties facing the developments and built investor trust in the
local business climate.
The province has
further boosted its administrative reforms by simplifying regulations across
a wide range of fields, including investment, construction, land use,
import-export, labour management and environmental issues.
It has worked
closely with relevant agencies and other stakeholders to ensure security and
safety for foreign investors in the locality.
Since the beginning
of this year, Hai Duong has lured newly registered and additional investment
of US$319.4 million from 15 FDI projects, up 116% year-on-year in value.
The locality now
has 264 FDI projects invested by 23 countries and territories with a total
capital of more than US$6.1 billion, of which US$2.7 billion has been
disbursed.
ASEAN Exchanges
have introduced an expanded FTSE ASEAN index series which will include
Vietnamese stocks for the first time, in a bid to provide a comprehensive
suite of indices covering the growing ASEAN equity market.
ASEAN Exchanges
said the creation of broader benchmark indices, meaningful sector indices and
new ASEAN centric products would generate more ASEAN-based opportunities for
investors and increase liquidity flows between exchanges.
The three new
tradable ASEAN indices are the FTSE ASEAN All-Share Index, FTSE ASEAN Stars
Index and FTSE ASEAN All Share Ex-Developed Index.
The FTSE ASEAN
All-Share Index represents the performance of large, mid and small cap ASEAN
companies.
The FTSE ASEAN
Stars Index comprises the 30 most salient companies of each ASEAN country as
ranked by market capitalisation and liquidity, with the exception of
The existing
FTSE/ASEAN 40 Index, which reflects the performance of the largest companies
in the ASEAN market, will continue to be calculated as part of the series.
All the indices are
free-float adjusted and calculated in accordance with the Industry
Classification Benchmark (ICB).
BIDV branch
in
The Bank for
Investment and Development of Vietnam (BIDV) recently signed a deal with
Yagoon-based Small and Medium Industrial Bank (SMIDB), paving the way for the
establishment of a BIDV branch in
With this
agreement, BIDV and SMIDB will be fellow partners ensuring long-term and
unshakeable cooperation through close supports in order to promote each
side’s strengths and potentials in such fields as information exchange,
service development, monetary and foreign exchange.
In addition, the
two sides will regularly meet to explore opportunities for enhanced
cooperation in other areas. BIDV will support SMIDB in information technology
application, career consulting, training and surveys in
BIDV CEO Tran Bac
Ha said that the agreement will help BIDV establish firm relations with
Samsung
launches Enterprise Experience Centre in Hanoi
Samsung Electronics
Co opened a centre in
The centre, the
first of its kind in
Utilizing the
services of the centre, customers can access over 200 of the latest high-tech
products such as LED lighting, air conditioners, digital screen, mobile
devices and printers in researching and solving business problems.
The centre also
will enable users to learn and share in advanced technological knowledge and
experiences, including Samsung’s school education and training programmes.
In June and July
this year, Samsung plans to open four more centres in
Japanese
businesses invited to purchase Vietnam NPLs
The State Bank of
Vietnam (SBV) governor Nguyen Van Binh has expressed hope that the Japan
Financial Services Agency (JFSA) will encourage Japanese businesses to
purchase
Binh made the
proposal at a working session in
The Vietnam Asset
Management Company (VAMC), an arm of SBV, was set up last July to acquire
NPLs from commercial banks, providing much needed capital to enable the banks
to lend again.
This is part of the
central bank’s efforts to overhaul Vietnamese lending institutions and spur
economic growth.
VAMC is developing
a roadmap for selling loans it has purchased in recent times. However,
incomplete legislation prevents the company selling loans to its partners.
According to a
recent draft circular of the Ministry of Justice, the VAMC is only allowed to
sell the assured debts worth less than VND10 billion to financial
institutions. If the circular is approved, it would cause extreme
difficulties for VAMC in solving NPLs.
On June 6, SBV and
JFSA signed a cooperation document under which the latter will provide
experts for SBV’s technical assistance projects.
JFSA has invited
JW Marriott
Hanoi wins Asia-Pacific Property Award
JW Marriott Hanoi,
a leading five-star hotel, has received top honors for excellence in the
Asia-Pacific Property Award Winners 2014-2015, the world’s most prestigious
real estate industry accolades.
The hotel was
selected overall best in the Asia-Pacific region for new hotel construction
and design, voted on by 70 of the world’s leading experts.
JW Marriott Hanoi
hotel was inaugurated in the third quarter of 2013. It has total investment
capital of US$250 million.
It is designed with
nine storeys and 450 rooms and is one of the largest hotels in the capital
city.
The hotel offers
2,400 square meters for workshop space, including two Ballrooms, a studio
area for senior events and major forums, as well as space to organize outdoor
events with a chain of Europe-Asia restaurants, healthcare area and
facilities meeting five-star standards.
Ministry
facilitates exports to Africa
The Ministry of
Industry and Trade (MoIT) will continue to provide domestic companies with
latest trade information about potential markets in
This will help the
firms accelerate their exports to the continent, the ministry's Africa,
The ministry will
also join hands with commercial banks both in
Cooperation with
Vietnamese Commercial Offices in the region, in introducing business
opportunities and prestigious customers to Vietnamese companies will also be
included.
Statistics from the
General Department of Customs showed that Vietnamese exports to most large
markets in
During the reviewed
period,
Three other markets
with high growth rates include
Conversely, export
turnover to some markets declined sharply. Exports to
Experts have urged
Vietnamese businesses to be proactive in overcoming obstacles such as
geographic distance, high transport costs, trading through intermediaries and
language barriers.
They suggest that
in the future, firms should boost shipments of high-value electronics,
electric devices, household goods and consumer items. Shipment of foodstuffs,
canned foods, and mechanical and plastics products besides traditional items
should also be increased.
HCMC seeks
to ease business difficulties
Businesses in
The proposal was
made at a meeting on June 9 between
Currently, HCM
City-based businesses import machinery, equipment, spare parts, garment
accessories, footwear and pesticides from
Since the beginning
of this year,
To reduce
dependence on the Chinese market, local enterprises are gradually
diversifying import-export markets.
Businesses are keen
to be proactive in finding sources of materials for production to replace
those Chinese imports which are inefficient on fuel and require intensive
labour.
City leaders said
that they would monitor the situation closely to assist businesses in
capital, market access, tax policy and customs services.
Vietcombank
makes Forbes
Forbes
Surpassing other
large commercial banks, the Bank for Foreign Trade of Vietnam has become the
only representative in the Forbes list for two years in a row.
On the list are
companies that have outstanding performance, hold key positions in the
market, and bring great benefits for investors.
As of April 25,
2014, total market capitalisation of these 50 companies reached VND741
trillion, accounting for 65% of the combined capital of the HCM City Stock
Exchange (HOSE) and Hanoi Stock Exchange (HNX).
Forbes
With revenue of
VND31,040 billion, Forbes holds that Vietcombank is known for its increased
trust amongst businesses, international payment and trade, and it plans to
get the lion’s share of the domestic retail market.
Vietcombank has
been recognised as the “Best Retail Bank in Vietnam 2014” by the Asian Banker
magazine, with an awards ceremony held in
Forbes magazine
(USA) launched the Vietnamese version in June 2013- its 29th edition
published worldwide, and is considered the new reference point for
entrepreneurs beginning careers in Vietnam, as well as sharing lessons and
experiences for Vietnamese businesses to reach out to the world.
Japanese
enterprises eye
A number of
Japanese companies will attend two exhibitions on machinery and technology
for support industries, at the
The Vietnam
Manufacturing Expo 2014 (VME) and “Industrial Components and Subcontracting
(ICS) Vietnam 2014 are seen as the most important manufacturing industry
events.
Masato Hayashi,
Head of Business Office of Hitachi Cable Company
He added that the
company has also spent time studying the Vietnamese government’s policy and
even culture.
According to Seiji
Masuda, general director of Sanko Fastem company,
“We are the largest
anchor bolts manufacturer in
“The exhibition is
an effective marketing tool for us. Moreover, it provides a golden
opportunity for us to explain and offer guidance to Vietnamese customers
using the product”, he added.
There are 520
Japanese invested projects operating in
However, Japanese
investors say
Pangasius
exports to reach US$1.6 bln in 2014
The export value of
Tra fish (Pangasius) is expected to fetch US$1.6 billion by the end of this
year, falling by 5% compared with 2013.
According to the
Ministry of Agriculture and Rural Development (MARD), in the first five
months of this year, the Mekong River Delta set aside 2,954 hectares for
Pangasius farming, down 19% from a year ago.
Local farmers have
caught 335,023 tonnes on 1,487ha, a year-on-year decrease of 20% in output.
Between
January-April 2014, Tra fish businesses earned US$546 million from exports,
an increase of 2% compared to the same period last year.
Several markets experiencing
high growth of Pangasius imports include Brazil-36.7%, Mexico-13%, ASEAN
countries-11% and China-25%. In contrast, the EU and
Due to shrinking
markets, the price of Pangasius is currently decreasing to VND22,000-23,000
per kilogram.
Vietnam-Turkey
trade up 38.2%
Vietnam Customs
statistics show that two-way trade between
Of the total,
Telephone handsets
and components topped the list of export commodities to
Other products with
high growth included garments and textile, computers, electronics and
components, machinery, equipment and tools, rubber, footwear, and wood and
timber products.
Recently, telephone
handsets and components surpassed textile to rank first on the list of
exported products, helping drive up export growth and bilateral trade value.
In the reviewed
period,
Other imported
products experiencing high growth were machinery, equipment and tools,
pharmaceuticals, ore and other minerals, chemical products and plastic
products.
Exports to
Spanish Ambassador
to Vietnam Alfonso Tena Garcia has said enterprises from his country are
satisfied with their business in
He also said that
Two-way trade
between the two countries surmounted a record EUR2.16 billion (US$2.98
billion) last year, with a rise in exports from both sides.
Foreign
investment helps revive housing market
Liberal policies
and incentives from the Government and huge foreign investment are gradually
pulling the property market out of its long slump.
Phan Thanh Huy,
General Director of developer Novaland, said in the first four months of 2014
his company sold some 2,300 apartments in three projects in
These include 1,600
in
Huy said these
projects sold well despite the stagnancy in the housing market because of
their "good prices" and prime locations.
A spokesperson for
the National Housing Organisation Company (NHO) said the Korean company would
soon invest over VND20 trillion (US$950 million) in 14 property projects in
Hanoi, Hue, Quang Ngai, Danang, Ho Chi Minh City, and An Giang.
NHO will invest
some VND4 trillion (US$188.67 million) in a 79ha residential complex in Ho
Chi Minh City's Binh Chanh district and develop its 51ha An Phu Sinh
Residential Complex in Quang Ngai into one of the best in the central region.
The NHO management
has said that the US$950 million investment will fulfill the company's
commitment to the Ministry of Construction to sell some 100,000 apartments in
the next decade.
Property services
firm CBRE said the Vietnamese housing market is attracting the attention of
foreign investors. In 2013 FDI in the sector amounted to around US$1 billion.
This year it ranks only behind the manufacturing sector in terms of
investment.
The biggest
foreign-invested property projects this year include a US$200 million
residential complex in Ho Chi Minh City's Binh Thanh district to be built by
Sunwah Vietnam, a US$2.5 billion resort complex in Vung Ro, Phu Yen province,
by US developer Rose Rock and Vung Ro Oil and Gas Co Ltd, and the US$300
million Alma Resort in Khanh Hoa province.
The latest report
on the housing market from the construction ministry confirms that the market
is rebounding with the number of properties traded in both
In
Cambodian
market lures Vietnamese investors
Vietnamese
enterprises are running 128 valid investment projects in
Agro-fishery
projects account for 50.58% of the funding, energy 27.05%, banking-finance
and insurance 8.7%, and telecommunications 5.1%.
The investment
climate in
Additionally,
investors in
The Cambodian
Government has planned to lure investment inflow in its agriculture,
infrastructure, banking, and telecommunications sectors.
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Chủ Nhật, 15 tháng 6, 2014
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