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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?

The article cited the speech by Vietnamese Minister of Plan and Investment Nguyen Chi Dung at a start-up investment forum in December 2022 as saying that in recent years, more and more FDI flows have come to Vietnam’s start-ups. In the first nine months of 2022, Vietnam's innovative start-ups attracted about 500 million USD. Over the past two years, startups have attracted nearly 2 billion USD in foreign investment, which proved that “Vietnamese start-ups are increasingly attractive to international and regional investors.” In 2021, Vietnamese start-ups raised 1.4 billion USD in investment capital, 56% higher than the level of 894 million USD in 2019. The Vietnam National Innovation Center estimates that the capital attraction capacity of Vietnamese start-ups will maintain an upward trend in 2023. Thirty-nine investment funds have committed an investment of 1.5 billion USD to Vietnam in the period 2023-2025, bringing the total investment for Vietnamese start-ups to 5 billion … [Read more...] about Vietnam joins “golden triangle of start-ups” in Southeast Asia: Hong Kong newspaper

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

Deputy Director of the FIA Do Van Su said disbursement of foreign investment this year is expected to hit USD 22-23 billion. Su acknowledged that the opening of China’s economy might affect Vietnam's foreign investment attraction, adding that China remained the leading investment destination in the region, so when they opened up, capital will flow into this market while that to Vietnam and other economies in the region will be limited. On the contrary, the investment capital movement of the Republic of Korea (RoK), Japan, and Taiwan (China) will be accelerated. This shift will be accelerated until 2025, and Vietnam will be a preferred investment destination for investors, he added. Currently, the RoK, Japan and Taiwan (China) are Vietnam’s major sources of foreign investment and they have constantly increased their investments in Southeast Asian countries. According to FIA, essential factors for FDI to continue to prosper in 2023 include economic growth results in 2022 and … [Read more...] about Vietnam’s FDI projected to reap up to USD 38 bln in 2023

There were 153 newly-registered projects totalling $1.2 billion, up 48.5 per cent in quantity and 3.1 times in value against last year's January. About $651.9 million of FDI capital was poured into the fields of wholesale, retail, and repair of automobiles and motorised vehicles, accounting for 54.1 per cent of the total registered sum. Meanwhile, the processing and manufacturing industry attracted $351.2 million, making up 29.1 per cent of the total registered capital. According to the GSO, 28 foreign countries and territories invested in Vietnam in January. Singapore took the lead with $767.6 million, accounting for 63.7 per cent of the total newly registered capital. China came in second with $198.2 million, making up for 16.4 per cent of the total sum. Meanwhile, Vietnamese investors have received investment certificates for three project overseas with the total capital of $126.7 million, up by 3.4 times against the same month in 2022. In 2022, Vietnam lured over $22.4 … [Read more...] about FDI inflows to Vietnam reach almost $1.7 billion in January

The ongoing strong cold spell is sweeping across northern Vietnam and is expected to last for a couple of days before drizzling rain hits the region, according to national weather forecasters. Illustrative photo Northerners still feel the chill before drizzling rain hits, starting on February 1. The northern region has endured a number of subsequent cold air waves for the past few days, causing temperatures to drop sharply. The latest strong spell hit northern localities on January 27, plunging the temperature to a low of 7 degrees Celsius in the highlands and 10 in the lowlands. Despite the sunrise, northerners still feel the chill, even in Hanoi where the temperature falls to as low as 10 degrees Celsius in the morning. The cold, dry weather is forecast to last till the end of January before daytime temperatures will rise sharply accompanied by drizzling rain and high humidity. Elsewhere the ongoing cold spell has also impacted the Central … [Read more...] about Cold wave grips northern Vietnam before drizzling rain falls

Many Vietnamese enterprises achieved success in 2022 after shifting to exports through e-commerce platforms, especially Amazon. The trend is expected to continue this year. Vietnam was among the top five countries with the highest e-commerce retail sale growth rates in 2022, according to a report by the U.S.’s market research company eMarketer. Impressive growth A year after beginning to sell goods on Amazon to European and American markets, ChicnChill, a Vietnamese handicraft brand, reported a growth rate of up to 700 percent. Tran Tuan Dung, CEO of ChicnChill, said he saw the start-up thrive when a majority of Vietnamese enterprises have scaled down their operations due to the impact of the COVID-19 pandemic. He and his team spent months studying the lifestyle in European and American markets and home decoration trends there, thereby determining the company’s key products and penetrating into these markets. After a year, ChicnChill’s home decoration products are … [Read more...] about Vietnamese firms earn big from Amazon

OVs in Thailand attend the programme. (Photo: VNA) Bangkok (VNA) – Overseas Vietnamese ( OVs ) in Thailand gathered at a programme hosted by the Vietnamese Consulate General in Khon Kaen province on January 29 to celebrate the traditional Lunar New Year (Tet) festival – the longest and biggest traditional holiday of Vietnam. In his speech at the event, Vietnamese Consul General Chu Duc Dung briefed guests on socio-economic development achievements of Vietnam, as well as the agency’s operation, especially activities to connect Vietnamese expats in the northeast region of Thailand with the homeland. He spoke highly of the role played by OVs for the homeland’s development, affirming that they have been contributing to preserving Vietnam’s cultural identities and values through cultural and religious exchange activities in Thailand. The Vietnamese community abroad is an indispensable part of and important resources for the homeland's development, he stressed, hoping … [Read more...] about OVs in Thailand celebrate traditional Lunar New Year