Too much capital - 50 per cent of the US$45.28 billion in foreign direct investment for the first seven months of this year - has been given over to real estate projects across the nation. "This is not a good sign," independent think tank Le Dang Doanh told Viet Nam News, concerning FDI in the property market, adding that this capital flowing into the property market over the past few months had not helped with major economic issues in the country. The capital has not created more jobs for the millions of local labourers, even though there has been a large demand for land to build on. Many private Vietnamese enterprises, which create 1 million new jobs every year, must fight tooth and nail for land, and at dear costs to their firms. The influx of real estate projects has been predicted to hinder the nation's programme for economic and social development. "I agree that becoming a 'tourism paradise' is obviously good if we [Vietnam] can balance the major factors of people, … [Read more...] about Real estate sector’s large share of foreign capital
Aqua real estate
BUSINESS IN BRIEF 28/12
Office gives okay for 3 new trademarks The National Office of Intellectual Property in Viet Nam has acknowledged trademarks of products Rach Goc dried shrimp, boi dried fish and U Minh Ha honey. The Farmer Associations of southern Ca Mau Province districts Ngoc Hien, Tran Van Thoi, U Minh districts, plan to expand their market domestically and abroad, and extensively promote their trademarks. In 2012, the provincial Department of Science and Technology will propose the recognition of product trademarks for Nam Can sea-crab, ca bong tuong (large goby) and the Tan Thanh eel. Bank name change given the go-ahead The State Bank of Viet Nam (SBV) announced yesterday that it had approved a decision to rename Gia Dinh joint-stock commercial bank (Gia Dinh Bank) as Viet Capital Commercial Joint Stock Bank (Viet Capital Bank). Previously, SBV issued Decision No2665/QD-NHNN to approve an amendment to a business licence in the name of Gia Dinh Bank on December 13. The Decision takes … [Read more...] about BUSINESS IN BRIEF 28/12
Capital flow is shifting from Long Thanh vacant land to Bien Hoa center
Capital flow is shifting from Long Thanh vacant land to Bien Hoa center The Dong Nai real estate market is seeing remarkable changes as capital flows are sharply shifting from the area around Long Thanh airport to Bien Hoa downtown. From Long Thanh to Bien Hoa In the first months of 2017, the hub of the Dong Nai real estate market just rotated around the story of the Long Thanh International Airport planning to be approved. As recorded in the first nine months of this year, more than VND8,000 billion from Saigon investors poured in more than 200 projects large and small with a scale of nearly 2,000 hectares in Long Thanh. The most affected areas are Binh Son and Loc An communes (in Long Thanh District) whose land areas are only partially cleared, being considered “lucrative” to investors. Since the beginning of June, however, the trading of Long Thanh land market has slowed down as a result of a rule on limited land allocation, land separation and land transfer within … [Read more...] about Capital flow is shifting from Long Thanh vacant land to Bien Hoa center
Bien Hoa real estate: Land prices seen rising sharply at year-end
Bien Hoa real estate: Land prices seen rising sharply at year-end By the end of 2017, the billion-dollar capital flows are massively flocking to Bien Hoa after the decision to extend the Metro Line No. 1 to the center of Bien Hoa City, causing land prices here to increase “dizzily”. The decision to extend the Metro line to Bien Hoa is expected to create a positive sign for the Bien Hoa property market. Surging trades At present, Bien Hoa housing prices are increasing sharply. In many areas, prices simultaneously increased by 20 - 30% in comparison with early November, and doubled or even tripled versus early 2016. Likened to Nguyen Hue Avenue in Saigon, Vo Thi Sau Street - home to many high-end buildings occupied by most expats in Bien Hoa City – has its vacant land price currently being traded at VND60-90 million dongs per square meter, rising by 50% - 60% compared to the beginning of 2016. In recent weeks, land prices here have continually increased after the … [Read more...] about Bien Hoa real estate: Land prices seen rising sharply at year-end
BUSINESS IN BRIEF 19/12
Business environment needs stability Around 55,000 enterprises in Vietnam may file for bankruptcy by the end of this year but the situation was not overly serious, one official said. Bui Anh Tuan, Deputy Director of the Ministry of Planning and Investment's Business Registration Division, made the comment at a seminar on business development and investment in Hanoi on December 11. "The situation in Vietnam is not really that pessimistic as the country recorded nearly 48, 473 bankrupted enterprises in the first eleven months of the year. This is the same as the rate of from 11%-15% annual bankrupted enterprises in Japan and the US," Tuan said. The country is estimated to have 65,000 new businesses this year, meaning the country will still have 10,000 more operational enterprises during the year, he assessed. However, he admitted that due to the large number of enterprises filing for bankruptcy, it has resulted in a deficiency in state budget revenues this year. Deputy Minister of … [Read more...] about BUSINESS IN BRIEF 19/12