Ninety five foreign invested real estate projects have been licensed in Hanoi. However, many investors have not moved since the day they got the licenses. According to VnMedia newspaper, 88 out of the 95 projects have been allocated land totaling 1500 hectares. These include 17 shopping mall projects, 66 office buildings for lease, and five golf course and park projects. Three investors reportedly have not fulfilled the site clearance work. Of the seven projects, the city’s authorities have assigned the Hanoi Land Fund Center to implement the site clearance for three projects in the West Lake project, Yen So Park and Biotech Park. A report by the Hanoi Planning and Investment Department shows that 82 out of the 88 projects have kicked off, but the implementation has been going very slowly. Some investors have found as to spontaneously not following the approved planning without the permission of the watchdog agencies. Euroland project developed by TSQ Vietnam in Mo Lao new … [Read more...] about Hanoi suggests applying strict rules to control foreign invested property projects
Foreign investment
New directions for drawing foreign investment to Vietnam
Shifting flowsForeign direct investment (FDI) inflows into Vietnam have increased sharply thanks to the shift of investment flows in the world, of which Vietnam is one of the attractive destinations.Vietnam attracted more than US$33 billion in FDI in the first 11 months of the year, an increase of over 82 percent compared to the same period last year. Of the total projects, 2,293 received investment certifications with total registered capital of US$19.8 billion, a year-on-year increase of 52 percent. In addition, 1,100 projects added capital totaling nearly US$8 billion, representing a 57.6 percent increase over the same period in 2016.A strong increase in FDI was attributed to the impressive surge of Japanese investment and the positive impact of the 21-nation APEC summit in the central city of Da Nang in early November.According to the Ministry of Planning and Investment’s Foreign Investment Agency, two FDI projects of large corporations were licensed in Vietnam in November. … [Read more...] about New directions for drawing foreign investment to Vietnam
Foreign-invested banks see increased profitability
Foreign-invested banks in Vietnam reported a considerable rise in their profits in 2011 despite the economy recession. Foreign-invested banks gained huge profit (illustrative photo) On March 29, HSBC Bank in Vietnam announced that its pre-tax profits in 2011 had risen 40% compared to 2010. Standard and Chartered Bank also announced its revenue had increased for a ninth consecutive year with revenue of USD17.64 billion and an operating profit margin of USD6.78 billion. The total profit of retail banking sector increased 26%, with profits from the institutional banking sector reached five billion. A Standard Chartered Bank representative said, "This achievement was due to strong capital, healthy liquidity and diversified revenue from emerging markets in Asia, Africa and Middle East." According to the State Bank of Vietnam in Ho Chi Minh City the business results for foreign-invested banks, foreign bank … [Read more...] about Foreign-invested banks see increased profitability
Vietnam reaches $35.6 billion in foreign investment capital in 2017
According to statistics published by the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment today, between January and December 20, foreign investment capital arriving to Vietnam reached $35.6 billion, up 44.4 per cent compared to last year’s figures. Notably, foreign investors poured $21.27 billion into 2,591 newly-registered projects and $8.4 billion of added capital into 1,188 existing projects, and foreign investment capital through M&A activities was $5.91 billion, signifying respective increases of 42.3, 49.2, and 38.5 per cent on-year. In general, in 2017, 115 countries and territories were involved in 19 sectors of the Vietnamese economy. The manufacturing and processing sector ranked first in attracting FDI, with a total of $15.87 billion, equalling 44.2 per cent of the total inflows to Vietnam. The runner-up was the power generation and distribution sector with a total newly-registered and added capital of $8.37 billion, equalling … [Read more...] about Vietnam reaches $35.6 billion in foreign investment capital in 2017
Vietnam reaches $35.88 billion in foreign investment capital in 2017
According to statistics published by the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment today, between January and December 20, foreign investment capital arriving to Vietnam reached $35.88 billion, up 44.4 per cent compared to last year’s figures. Notably, foreign investors poured $21.27 billion into 2,591 newly-registered projects and $8.4 billion of added capital into 1,188 existing projects, and foreign investment capital through M&A activities was $5.91 billion, signifying respective increases of 42.3, 49.2, and 38.5 per cent on-year. In general, in 2017, 115 countries and territories were involved in 19 sectors of the Vietnamese economy. The manufacturing and processing sector ranked first in attracting FDI, with a total of $15.87 billion, equalling 44.2 per cent of the total inflows to Vietnam. The runner-up was the power generation and distribution sector with a total newly-registered and added capital of $8.37 billion, equalling … [Read more...] about Vietnam reaches $35.88 billion in foreign investment capital in 2017