Want to be in the loop?
subscribe to
our notification
Business News
$2.4 BILLION FOREIGN INVESTMENT REGISTERED IN REAL ESTATE IN FIRST EIGHT MONTHS
More than $2.4 billion of foreign investment was newly registered in the real estate sector in the first eight months, over five times higher than the same period last year, and accounting for nearly 20 per cent of the total $12 billion newly registered capital.
According to the General Statistics Office, as of August 31, the total foreign direct investment (FDI) registered in Vietnam reached $20.52 billion, an increase of more than 8 per cent over the same period last year.
The newly registered capital came from 2,247 licensed projects, totalling nearly $12 billion, representing an 8.5 per cent increase in the number of projects and a 27 per cent rise in registered capital compared to the same period last year.
Including both newly registered and adjusted capital, FDI in real estate business amounted to $2.55 billion, 3.7 times higher than the same period last year, accounting for 14.4 per cent of total newly registered capital.
In addition, capital contributions and share purchases by foreign investors in real estate business reached nearly $812 million, accounting for 29 per cent of total investment in this form.
Savills Vietnam recently named three outstanding real estate merger and acquisition deals in Vietnam in Q2.
The most valuable deal was Kim Oanh Group (Vietnam) cooperating with NTT Urban Development, Sumitomo Forestry, Kumagai Gumi Co Ltd (Japan) to develop The One World, a 50-hectare residential area in Binh Duong province. The project has a total investment of more than $1 billion including shophouses, townhouses, compound villas and apartments.
Next is a deal for Electronic Tripod Vietnam belonging to Tripod Technology Group (Taiwan) to acquire an 18-hectare industrial land plot in Chau Duc district of Ba Ria-Vung Tau from Sonadezi. Tripod Vietnam will deploy the construction of Electronic Tripod Vietnam Factory with an investment capital of $250 million.
Third is Nishi Nippon Railroad (Japan) acquiring 25 per cent of the shares in the 45.5-hectare Paragon Dai Phuoc project located in Dong Nai province from Nam Long Group for about $26 million.
According to Savills Vietnam, amid weak global purchasing power, geopolitical tensions and inflationary pressures, economic challenges are likely to continue in Q4 of this year, but positive FDI and infrastructure investment domestically will be a positive trend.
Source: VIR
Related News
FIRST 9 MONTHS: REGISTERED FDI INTO VIETNAM UP BY 11.6%
As of September 30, the total registered capital from new licenses, adjustments, and capital contributions for share purchases by foreign investors reached over 24.78 billion USD, up 11.6% compared to the same period in 2023.
VIETNAM UP TWO PLACES, RANKING 44TH IN GLOBAL INNOVATION INDEX
According to the 2024 Global Innovation Index (GII) report, Vietnam ranks 44th out of 133 countries and economies, moving up two spots from 2023. Vietnam leads the world in three indices: high-tech imports, high-tech exports, and creative goods exports.
INFOGRAPHIC ON THE SOCIO-ECONOMIC SITUATION IN SEPTEMBER AND NINE MONTHS OF 2024
The monthly statistical data presents current economic and social statistics on a variety of subjects illustrating crucial economic trends and developments, including production of agriculture, forestry and fishery, business registration situation, investment, government revenues and expenditures, trade, prices, transport and tourism and so on.
VIETNAM'S GDP CLIMBS TO 7.4 PER CENT IN THIRD QUARTER
According to the General Statistics Office (GSO), this was lower than the GDP growth rate posted in Q3/2022 (13.67 per cent), but higher than Q3/2021 (-6.17 per cent). The economy grew 6.8 per cent in the first nine months of 2024.
STANDARD CHARTERED PREDICTS SLOWER GDP GROWTH IN Q3
Standard Chartered's early October report predicts Vietnam's third-quarter GDP growth has slowed to 5.1 per cent on-year, down from 6.9 per cent in the second quarter, with a seasonally adjusted on-quarter growth of 1 per cent.
BANKS CONDUCTING MASSIVE BOND ISSUANCES
Besides attracting deposits to meet the heightened credit demand at the end of the year, banks are racing to issue bonds to replenish capital sources. On October 2 Military Bank (MB) announced plans to issue 30,000 bonds via private placement, with a total value approximating $125 million.