Business News

Mergers and acquisitions between domestic and international real estate developers were down in the first half of the year, but could be a future bright spot with Vietnam boasting attractive economic fundamentals and investors biding their time.

According to the latest report by the World Bank, Vietnam’s economy is expected to grow by 4.7 per cent in 2023, with a slow recovery to 5.5 per cent in 2024 and 6 per cent in 2025. After registering 8 per cent real GDP growth in 2022, Vietnam’s economic growth decelerated sharply in the first half of 2023, reflecting a global slump and weaker domestic demand.

The deputy PM said improper application of methods or the use of subjective, non-transparent, and inaccurate data inputs employed during the valuation process has often resulted in inaccurate pricing and caused revenue losses to the State budget. Additionally, the complexity of valuation methods and the lack of comprehensive and reliable land price databases in the market also contribute to inconsistent results.

As of July 20, total newly-registered capital, additional capital, and capital contributions and share purchase by foreign investors stood at nearly 16.24 billion USD, up 4.5 per cent compared to the same period of 2022 and 8.8 per cent compared to the first half of the year.

In a recent meeting to seek Japan's support and expertise in implementing Việt Nam's Industrialisation Strategy, Deputy Minister of Planning and Investment Trần Quốc Phương acknowledged the active cooperation, support and assistance from international friends, notably Japan, in the country's journey towards industrialisation and modernisation.

Shares had a good start on Monday thanks to increased demand toward the end of the trading session. On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose 1.26 per cent to close the day at 1,241.42 points. The southern bourse’s index increased 1.52 per cent last week.

Deputy Prime Minister Lê Minh Khái at a recent meeting said that the pressure on price management was easing, adding that if conditions allowed, prices of several goods and services under the State management could be adjusted following the roadmap at the appropriate points of time.

1. Personal finance planning vital yet neglected in Vietnam: forum
2. Sluggish recovery persists in corporate bond market
3. 15 businesses, called 'cash kings', have $18 billion in coffers
4. Vietnam's macro-economy stays stable, inflation controlled: official
5. Close watch urged on global market developments
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