Real estate remains 2nd largest FDI lurer in VN

07.09.2017 ~ Trần Đình Hoành ~ Bình luận về bài viết này

Last update 18:29 | 07/09/2017

Despite having fallen to the fourth position in terms of foreign direct investment in the first eight months of 2017, the real estate sector remains the second-biggest recipient of this type of investment to date.

Though realty is fourth in FDI for eight months, it remains the second-largest earner overall

According to the Ministry of Planning and Investment’s Foreign Investment Agency, between January and August 20, the real estate sector stood in fourth with regards to foreign direct investment (FDI) inflows – with 46 newly-registered projects and 15 others increasing their capital, totalling more than $1.16 billion.

Real estate FDI is behind the sectors of manufacturing and processing ($11.69 billion), power processing and distribution ($5.36 billion), and mining ($1.28 billion). Tiếp tục đọc “Real estate remains 2nd largest FDI lurer in VN” →

12 multi-trillion VND projects reap little profit for state

07.09.2017 ~ Trần Đình Hoành ~ Bình luận về bài viết này

Last update 07:30 | 02/07/2017

vietnamnet

VietNamNet Bridge – Of 12 projects, six projects were implemented under EPC contracts (engineering, procurement and construction), and most of the contracts were signed with Chinese contractors.

The Ministry of Industry & Trade (MOIT) and relevant ministries have released 120 documents on the settlement of problems in 12 huge unprofitable projects. However, the effects remain unclear.

Bui Quang Binh from Da Nang University commented that releasing legal documents was only one step in implementing state management. In order to bring the instructions into implementation, there must be other control and supervision mechanisms. Tiếp tục đọc “12 multi-trillion VND projects reap little profit for state” →

FDI to Vietnam is mostly from Asia, with South Korea ranked first

07.09.201707.09.2017 ~ Trần Đình Hoành ~ Bình luận về bài viết này

Last update 16:00 | 06/09/2017

vietnamnet

VietNamNet Bridge – The great advantages of Vietnam’s business environment and its membership in FTAs and the AEC have helped to attract many investors from Asia.

The Ministry of Planning & Investment (MPI) report said that in the first eight months of the year, foreign investors pledged to invest $23.36 billion in Vietnam, an increase of 45 percent compared with the same period last year.

At least 1,624 new projects have been licensed this year with total registered capital of $13.45 billion, up by 37.4 percent over the same period last year. In addition, 773 projects received approval for expansion with additional registered capital of $6.4 billion, up by 40.2 percent. Tiếp tục đọc “FDI to Vietnam is mostly from Asia, with South Korea ranked first” →

Hanoi to green-light three metro lines worth over $15 billion

05.09.2017 ~ Trần Đình Hoành ~ Bình luận về bài viết này

Last update 12:29 | 19/07/2017

vietnamnet

The Ministry of Transport (MoT) has submitted a number of recommendations for the Hanoi People’s Committee’s ambition to build three metro lines worth over $15 billion by 2025.

MoT is the first specialised state management agency to give feedback on the Hanoi People’s Committee’s latest proposal regarding investment plans for the metro railway projects. Tiếp tục đọc “Hanoi to green-light three metro lines worth over $15 billion” →

Vietnam to see cutthroat competition in petroleum market

05.09.2017 ~ Trần Đình Hoành ~ Bình luận về bài viết này

Last update 16:00 | 04/09/2017

vietnamnet

VietNamNet Bridge – Formerly a country that exported crude oil at low prices, Vietnam now produces petroleum products which can satisfy half of domestic demand.

Vietnam’s oil refining industry is built based on two huge projects capitalized at multibillion dollars – Dung Quat Oil Refinery and Nghi Son Petrochemical & Oil Refinery Complex.

In 2009, the $3 billion Dung Quat Oil Refinery began to use crude oil from the Black Tiger oil field. From May 30, 2010, Dung Quat officially entered the commercial operation period. Tiếp tục đọc “Vietnam to see cutthroat competition in petroleum market” →

Consumers prefer small convenience stores over giant supermarkets

03.09.201703.09.2017 ~ Trần Đình Hoành ~ Bình luận về bài viết này

Last update 13:00 | 02/09/2017

vietnamnet

VietNamNet Bridge – Some years ago, analysts predicted that modern distribution channels would develop rapidly in Vietnam as income continued to rise.

The prediction has been realized, but convenience stores, not large supermarkets, are the favored channel.

Market analysts have found that consumers now prioritize convenience when choosing shops. They are no longer excited about the opening of new hypermarkets as they were in the past, but often prefer to shop at convenience stores near their houses. Tiếp tục đọc “Consumers prefer small convenience stores over giant supermarkets” →

Tens of trillions of dong of state capital nearly lost in equitization

03.09.2017 ~ Trần Đình Hoành ~ Bình luận về bài viết này

Last update 08:00 | 03/09/2017

vietnamnet

VietNamNet Bridge – More than 96 percent of SOEs slated for equitization have been equitized, but only 8 percent of the state’s capital has been transferred to the private sector.
According to Tran Dinh Thien, the number of SOEs has decreased significantly over the last 15 years of restructuring, from 6,000 in 2001 to 700 in 2016.

The equitization has led to a significant decrease in the number of business fields in which the State invests. In 2001, SOEs were operating in 60 business fields, but the figure has dropped to 19. This has given more ‘space’ and opportunities to the private sector to make investments. Tiếp tục đọc “Tens of trillions of dong of state capital nearly lost in equitization” →

Vietnam’s Vingroup starts construction on $1-1.5 billion first phase car factory

03.09.2017 ~ Trần Đình Hoành ~ Bình luận về bài viết này

Tuoitrenews

The company expects to produce 100,000-200,000 vehicles per year in the first phase

By Reuters

Vietnamese Prime Minister Nguyen Xuan Phuc speaks at the launch of Vingroup’s car factory in Hai Phong City, September 2, 2017. Photo: Tuoi Tre

Vietnam’s leading property developer Vingroup [VIC.HM] said on Saturday it launched construction of a car factory in a project worth US$1-1.5 billion in the first phase.

The project is part of Vingroup’s expansion plan into the heavy industry of Vietnam, its vice chairman was quoted as saying in a statement, following similar moves in other major sectors such as retail and health care. Tiếp tục đọc “Vietnam’s Vingroup starts construction on $1-1.5 billion first phase car factory” →

Revenue from bauxite projects far lower than expected

31.08.2017 ~ Trần Đình Hoành ~ Bình luận về bài viết này

Last update 12:00 | 31/08/2017

vietnamnet

VietNamNet Bridge – As warned by experts, the revenue from Nhan Co and Tan Rai bauxite projects has been disappointing.

Dau Tu cited Dak Nong provincial authorities as reporting that the Nhan Co alumina plant was expected to pay VND437.761 billion in tax every year from 2016 when the plant began operation.

However, according to the Dak Nong provincial taxation agency, the total tax estimated to be collected from the plant in 2017 is just VND107.39 billion, or VND330 billion lower than expected. Tiếp tục đọc “Revenue from bauxite projects far lower than expected” →

Vietnam’s plans to pump more money into economy risky: economists

31.08.2017 ~ Trần Đình Hoành ~ Bình luận về bài viết này

Last update 08:00 | 31/08/2017

vietnamnet

VietNamNet Bridge – Economists have warned that many problems may arise if VND700 trillion is pumped into the national economy to raise the credit growth rate to 22 percent and obtain 6.7 percent GDP growth rate this year.
Bui Quang Tin, a lecturer at HCM City Banking University, said the increase in money supply will have an impact on GDP, inflation, interest rate and exchange rate.

He pointed out several concerns. First, the economy will need time to absorb the money. If injecting money into production, capital turnover would take 3-6 months on average.

Second, when the money supply increases, people may pour capital into non-production fields such as real estate and securities, fields called ‘instant noodles’ because return on investment capital can be done relatively quickly.

Banks have been asked to restrict lending to these sectors. If banks pour too much money into real estate, the real estate bubble in 2006-2008 will come back.

Banks have been asked to restrict lending to these sectors. If banks pour too much money into real estate, the real estate bubble in 2006-2008 will come back.

If money is disbursed for real estate and securities, the bad debt ratio will increase.

Tin said that IMF and WB had warned about the high credit growth this year which may bring new risks to the banking system.

“The high credit growth may help obtain targeted GDP growth rate, but it will also cause negative impact, which may be even higher than benefits. These are risks in inflation, exchange rate, interest rate, production cost and bad debt.” Tiếp tục đọc “Vietnam’s plans to pump more money into economy risky: economists” →

Cries for help from industry cause headaches for ministries

31.08.2017 ~ Trần Đình Hoành ~ Bình luận về bài viết này

Last update 16:00 | 31/08/2017

vietnamnet

VietNamNet Bridge – Ministries have been increasingly hearing calls for help from many industries.

In late July 2017, the Ministry of Planning & Investment (MPI) proposed reducing an export tariff to rescue the cement industry. The domestic supply is 20 percent higher than demand, while the domestically made product is more expensive than Chinese, Thai and Japanese cement.

The ministry believed that it would be better to slash the export tariff to below 5 percent to pave the way for cement manufacturers to export their products and ease the pressure on domestic supply. Tiếp tục đọc “Cries for help from industry cause headaches for ministries” →

New entrants heat up Vietnamese beauty market

28.08.2017 ~ Trần Đình Hoành ~ Bình luận về bài viết này

vietnamnet

Last update 17:00 | 28/08/2017

An increasing number of new players are entering the Vietnamese beauty market as local consumers are becoming more conscious of beauty treatment and products.

Nguyen Van Minh, vice chairman of the Vietnam Essential Oils, Aromatherapy and Cosmetics Association, is confident that the market will maintain its bullish trajectory in the coming years.

In 2017, around 200 foreign beauty brands have entered Vietnam, especially Thai and Korean companies. Tiếp tục đọc “New entrants heat up Vietnamese beauty market” →

51 bankers, businessmen on trial in Vietnam for fraud

28.08.201728.08.2017 ~ Trần Đình Hoành ~ Bình luận về bài viết này

channelnewsasia

A former banking magnate and 50 others went on trial in Vietnam Monday over a multi-million dollar fraud at a major private bank, as the communist nation cracks down on corruption in the sector.

Former Ocean Bank chairman Ha Van Tham stands trial AFP/VIETNAM NEWS AGENCY

28 Aug 2017 04:16PM

HANOI: A former banking magnate and 50 others went on trial in Vietnam Monday (Aug 28) over a multi-million dollar fraud at a major private bank, as the communist nation cracks down on corruption in the sector.

Authorities have vowed to clean up an industry plagued by favouritism and dodgy loans – part of a broader drive against corruption in the country. Tiếp tục đọc “51 bankers, businessmen on trial in Vietnam for fraud” →

FDI flow into real estate: a cause for concern?

27.08.2017 ~ Trần Đình Hoành ~ Bình luận về bài viết này

Last update 08:00 | 26/08/2017

vietnamnet

VietNamNet Bridge – Real estate ranked fourth among the most attractive business fields for foreign investors, with registered FDI capital of $1.15 billion in the first half of the year.
According to Savills Vietnam, the increase in FDI in the manufacturing sector has prompted investors to pour money into projects to develop industrial infrastructure.

Thai company Hemaraj Land & Development and Vietnamese firm Cienco 4 last May confirmed cooperation to set up a joint venture to develop an IZ on an area of 3,200 hectares in Nghe An province, capitalized at $1 billion.

Many deals were made in the first half of the year. Japanese firm Nishi Nippon and Hankyu joined forces with Vietnamese firm Nam Long to develop Mizuki Park residential quarter on an area of 26 hectares in Binh Chanh district, HCMC, capitalized at $351 million.

Meanwhile, Aeon Mall has teamed up with BIM Group to develop Aeon’s second shopping mall in Hanoi, covering an area of 16.7 hectares in a $200 million project. Son Kim Lan has successfully called for $100 million worth of investment capital from a Japanese investor.

The increase in FDI in the manufacturing sector has prompted investors to pour money into projects to develop industrial infrastructure.

Housing projects continue attracting attention from investors. Chinese firm Fortune Land Development has bought Lotus Dai Phuoc shares from VinaCapital, worth $65.3 million. This is a residential quarter project covering an area of 198.5 hectares in an area of Dong Nai province adjacent to HCMC.

A 65 percent stake in Times Square complex worth $41 million has been transferred by VinaCapital to Elite Capital Resources Limited.

Analysts have predicted that FDI flow into the real estate sector will continue in the time to come thanks to open policies and the great potential in tourism development. However, they warned that the amount of capital into the market needs to be measured by disbursed capital, not registered capital.

Many registered projects have not been implemented. Booyuong Mo Lao project in Ha Dong district, for example, has been left unimplemented for years.

Nguyen Tri Hieu, a respected banking expert, commented on Dau Tu Bat Dong San that more FDI capital is good news, but that is necessary to reconsider the situation if too much capital flows into the real estate sector. If the capital only goes to high-end real estate and resort projects, it will only heat up the market and lead to oversupply in the market segment, and not propel socio-economic development.

Phan Huu Thang, former head of the Foreign Investment Agency, now chair of the Vietnam Real Estate Association, affirmed that FDI real estate projects would still be welcomed. The problem is that Vietnam needs to supervise project implementation to ensure sustainability in investment and development.

Over $600 million of FDI poured into VN property in 5 months

Chi Mai

Vietnam trying to wean itself off preferential ODA loans

27.08.2017 ~ Trần Đình Hoành ~ Bình luận về bài viết này

Last update 12:00 | 27/08/2017

vietnamnet

VietNamNet Bridge – Vietnam now has to think of attracting private capital for development projects as preferential ODA loans will now have higher interest rates.

From 2018, Vietnam will no longer receive preferential ODA loans from WB, ADB and other financial institutions in developed countries at preferential loans of 2-3 percent. The interest rates will be 5-6 percent, not including the service fee. Tiếp tục đọc “Vietnam trying to wean itself off preferential ODA loans” →

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