Hanoi urban development

Phan Cong Chanh, CEO of developer Phu Vinh Group, said the real estate market will pose more risks than opportunities for investors in 2023, adding that would-be investors should save their money instead of spending it. According to Chanh, in the long term the market will benefit from rosy economic growth prospects, better legal frameworks and improved stock markets, especially the corporate bond market, But he said this would be gradual recovery that wouldn’t flourish to its full potential until 2-4 years from now. The Central Institute for Economic Management put forth two economic growth scenarios for this year. Accordingly, GDP growth will either stand at 6.47%, inflation at 4.08%, export growth at 7.21% and trade balance at $5.64 billion, or at 6.83%, 3.69%, 8.43% and $8.15 billion, respectively. With the draft amendments to the Land Law submitted to the National Assembly for potential approval in October, and amendments to other related laws such as the Law on Real Estate … [Read more...] about Should you invest in property or save your money this year?

Under the first, the national GDP will grow 6.47%, inflation 4.08%, and export 7.21%, and export-import revenue is projected at USD 5.64 billion, heard a workshop in Hanoi on January 12. The figures are set at 6.83%, 3.69%, 8.43% and USD 8.15 billion under the second. CIEM Director Tran Thi Hong Minh said Vietnam stayed updated on assessments and recommendations last year in order to maintain macro-economic stability, rein in inflation, and facilitate reform and socio-economic recovery and development. Such efforts paid off as the national GDP grew 8.02% in 2022, the highest in the 2011-2022 period, outpacing the target of 6.5% set by the National Assembly, and inflation was curbed at 3.15%, below the 4% projected earlier, she noted. Nguyen Anh Duong, head of the CIEM's General Research Department, presented a report on Vietnam’s economy in 2022 and prospects in 2023, which said there would be more impacts on the economy this year, such as tight monetary policies adopted by … [Read more...] about CIEM sketches out Vietnam’s 2023 economic scenarios

Hanoi (VNA) – Vietnamese people in Belarus and Bulgaria have joined their compatriots in the homeland and around the world in celebrating the Year of the Cat with different activities held recently. The Vietnamese Embassy in Belarus has organised a programme attracting over 400 Vietnamese and their Belarusian relatives. This was the first mass Tet gathering of the Vietnamese community in the European country after over two years of the COVID-19 pandemic. In his remarks, Ambassador Nguyen Van Ngu informed participants about the two countries’ socio-economic situations while highlighting their traditional friendship and multifaceted cooperation. He pledged that the embassy will continue working to help the overseas Vietnamese further integrate into the local society, protect their rights and legitimate interests, develop the community, and contribute to the homeland. A similar celebration has also been held by the Vietnamese Embassy in Bulgaria. Ambassador Do Hoang … [Read more...] about Vietnamese communities in Belarus, Bulgaria hold Tet celebrations

A health worker administers a shot of COVID-19 vaccine to a girl . (Photo: VNA) Hanoi (VNA) – The Prime Minister has asked the Ministry of Health to continue keeping a close eye on the domestic and international pandemic situation in to strengthen the pandemic prevention and control measures during trade and tourism activities in the festive festival in the first months of 2023 and continue to promote the socio-economic development. The ministry was asked to give timely guidelines and coordination with ministries, sectors and localities in the pandemic fight, while working with localities to direct the implementation of measures to prevent COVID-19 and seasonal diseases, promptly stamping out outbreaks, and promoting COVID-19 vaccination activities. Vietnam's COVID-19 caseload rose to 11,526,167 with 27 new cases recorded on January 16, according to the Ministry of Health. With 12 patients given the all-clear on the day, the number of recoveries rose to 10,612,117. … [Read more...] about Health ministry asked to closely monitor domestic, int’l pandemic situation

Foreign capital is expected to continue to flow into the stock market as foreign investors' confidence remains strongly.(Photo: VNA) Hanoi - From being net sellers in the first nine months of 2022, foreign investors have become the driving force supporting the Vietnamese stock market in the last few months, and the inflows are expected to continue this year. In 2022, this group net disbursed more than 29.2 trillion VND (1.2 billion USD) to the market, while it has net sold nearly 18.8 trillion VND and set a record net selling value of over 62.2 trillion VND in 2021. In November alone, more than 16 trillion VND in net disbursed cash flow from foreign investors was significantly supported by exchange-traded fund (ETF) capital inflows into the market, primarily from the Fubon ETF and the VNDiamond Index-based ETF. A study by BIDV Securities Company (BSC) analysing over 50 billion USD owned by foreign investors on the Vietnamese stock market showed that more than half of foreign … [Read more...] about Foreign investors remain optimistic about Vietnamese stock market

Illustrative photo (Source: VNA) Hanoi (VNA) – The number of newly-established enterprises and businesses resuming operations in the real estate market saw a remarkable rise last year, said the Ministry of Construction . As per statistics from the Ministry of Planning and Investment’s Business Registration Management Agency, there were 8,593 new enterprises and 2,081 businesses resuming operations in 2022, up 13.7% and 56.7% year-on-year. Meanwhile, the number of firms declaring bankruptcy or dissolution also grew by 38.7% against 2021. The Ministry of Construction said 2022 still saw many challenges facing realty firms and forcing them to change their business and management plans. The changes included debt restructuring, scaling down production and investment, streamlining apparatus, and suspending new projects, among others. In the face of complicated economic developments, from the middle of the third quarter to the end of last year, the operations of real … [Read more...] about More realty businesses established, resume operations in 2022