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VIETNAM ECONOMY INVESTMENT

VIETNAM EARNS US$8.62 BILLION TRADE SURPLUS IN JAN-MAY

Vietnam had a trade surplus of US$8.62 billion in the first five months of this year, according to the General Department of Vietnam Customs. The country exported goods worth US$156.28 billion in the period while spending US$147.66 billion on imports.

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PROPERTY / INDUSTRIAL ZONE

REAL ESTATE MARKET EXPECTED TO RECOVER IN Q2 NEXT YEAR

Apartment prices have stabilized, and demand has cooled. However, apartments remain the most liquid assets among real estate products, with stronger interest in Hanoi and HCMC, the Vietnam News Agency reported, citing Nguyen Quoc Anh, deputy general director of the local realty website batdongsan.com.vn.

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VIETNAM ECONOMY INVESTMENT

MINISTRY WANTS 12 TYPES OF GOODS, SERVICES REMOVED FROM VAT EXEMPTION LIST

These include fertilizer, machinery and equipment specifically used for agricultural production, offshore fishing vessels, securities depository, public utility telecommunication services, and internet services under government programs.

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VIETNAM ECONOMY INVESTMENT

CREDIT GROWTH REMAINS FAR FROM GOVERNMENT TARGET

Credit within the banking system to the end of May 2024 increased by only 2.41 per cent against the end of 2023, far from the credit growth targets, the Government reported. The Government has set a credit growth target of 5 per cent for the first six months of 2024 and 15 per cent for the whole year.

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VIETNAM ECONOMY INVESTMENT

SOUTHEAST REGION PLANNING WITH VISION TO 2050

Under Decision No. 370/QD-TTg issued by the Prime Minister on May 4, 2024, the Southeast Region will be developed in to a civilized, modern, and dynamic area, becoming a hub not only in Vietnam but also in Southeast Asia in terms of economy, finance, education, training, science, technology, innovation, and digital transformation.

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PROPERTY / INDUSTRIAL ZONE

APARTMENT RENTAL PRICES ON THE RISE IN COUNTRY’S LARGEST CITY

According to a report by JLL, rental prices for apartments in the city increased by 1.6 per cent quarterly and 5.9 per cent annually in the first three months, averaging 10 USD per square metre per month, particularly in new high-quality developments.

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VIETNAM ECONOMY INVESTMENT

VIETNAM’S ECONOMIC PERFORMANCE IN JANUARY-MAY

In the first five months of this year, the country saw a 2% increase in foreign direct investment, over a 9% increase in total export-import turnover, and nearly a 65% rise in the number of international visitors.

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BANKING / FINANCE / INSURANCE / TAX

BANKS LIMITS FOREIGN ROOM, WAITING FOR STRATEGIC BUYERS

Chairman of Techcombank, one of Việt Nam's largest commercial joint stocj banks, said the bank's current foreign room is 22 per cent, allowing it to sell as much as 10 per cent to potential strategic shareholders. The bank has also been considering issuing additional shares to strategic shareholders, which typically results in a positive move in terms of stock prices.


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