Vietnam's real estate market continues to show strong appeal to foreign investors despite global economic difficulties. The foreign direct investment (FDI) into Vietnam’s real estate market in 2022 rose by over 70% yearly to US$4.45 billion, focusing on industrial and large-scale commercial projects, according to the Ministry of Construction (MoC). Real estate projects in Hanoi. File photo The MIC’s report suggested that real estate stands second among sectors with the highest FDI attraction in 2022, which showcases “the strong appeal of the market to foreign investors amid a difficult global economic environment.” Neil MacGregor, Managing Director of Savills Vietnam, echoed this view by saying foreign investors remain attracted to Vietnam, especially in production, retail, logistics, and real estate. He expected the attention from foreign investors would help the local real estate accelerate the recovery process this year. Regarding this sentiment, HSBC … [Read more...] about FDI to Vietnam’s real estate rises by over 70% in 2022
Vietnam foreign investment agency
Digital technology to spearhead Vietnam’s drive for Industry 4.0
By 2025, the Ministry of Information and Communications expected Vietnam to have 80,000 digital tech firms, meeting at least 50% of digital tech and services from state agencies. Vietnam aims for the digital technology industry to lead the implementation of Industry 4.0 in the country, with revenue growth 2.5 times higher than the overall GDP expansion rate. ICT to help Vietnam realize the digitalization process. File photo The target was revealed in the Ministry of Information and Communications (MIC)’s directive for information and communication technology (ICT) development in 2023 and the 2024-2025 period. "Digital technology focused on design, creation, and manufacturing in Vietnam is the main industrial sector driving the nation's industrialization and modernization, contributing to greater digitalization capability and shaping a digital country," the MIC stated. Under the plan, the ministry expected revenue from the ICT sector would hit US$165 … [Read more...] about Digital technology to spearhead Vietnam’s drive for Industry 4.0
FDI hoped to help realty market develop sustainably in long term
The real estate sector was at second position in FDI attraction in Vietnam last year. (Photo: baodautu.vn) Hanoi (VNA) – Vietnam’s real estate sector last year attracted an additional 1.85 billion USD in foreign direct investment (FDI), retaining its second place among industries drawing FDI with combined investment of 4.45 billion USD, accounting for 16.1% of the total FDI poured into the country, according to the Ministry of Construction. real estate enterprises, helping to promote the sustainable growth of the market in the long term. Phu My Hung Urban Area in Ho Chi Minh City. (Photo: VNA) According to the General Statistics Office, from the beginning of this year to January 20, 2023, the total registered FDI capital in Vietnam reached 1.69 billion USD. VNA … [Read more...] about FDI hoped to help realty market develop sustainably in long term
Thailand, Japan sign deal to promote local currency use
The Thai baht (Source: http://jakartaglobe.id) Bangkok (VNA) - The Bank of Thailand (BoT) and Japan’s Finance Ministry on March 9 signed a memorandum of understanding on cooperation to promote the use of their local currencies in order to settle bilateral trade and investment. Japan ese authorised agencies will intensify information sharing and organise periodical discussions to effectively serve transactions between the two currencies. At present, nine commercial banks participate in the cooperation by providing the direct exchange rate quotation and promoting foreign exchange transactions in yen and baht in the interbank markets as well as trade with their customers. VNA … [Read more...] about Thailand, Japan sign deal to promote local currency use
Macro-economic stability, inflation control continue to be priority: Prime Minister
Chairing the Government’s monthly teleconference with localities on February 2, PM Pham Minh Chinh requested keeping a close watch on the domestic and foreign market situation. He asked for extensive monitoring of product price and inflation to enable a quick response to the current situation. He also requested timely forecasts and risk warnings while adopting a sound, flexible and effective monetary policy in close and synchronous combination with monetary, fiscal and other policies. The PM also requested that associated ministries ensure the liquidity and safety of credit organizations, gearing credit into production and trade, priority areas and growth pillars. Another important topic is stepping up cashless payment, while tackling difficulties for real estate market, prioritizing capital for transparent and effective enterprises, and enhancing social investment attraction and public-private partnership. Localities need to take initiative for the disbursement of public … [Read more...] about Macro-economic stability, inflation control continue to be priority: Prime Minister