Want to be in the loop?
HCM CITY: 46.8 PERCENT OF FDI GOES TO PROPERTY SECTOR
Real estate was the most attractive sector for foreign direct investment (FDI) in Ho Chi Minh City in the first four months of the year with 164.58 million USD, or 46.8 percent of total FDI.
According to the municipal Department of Planning and Investment, the British Virgin Islands was the largest investor by pouring 71.59 million USD into the sector, accounting for 43.5 percent of realty investment. The Republic of Korea came second with 19.5 percent, followed by Japan (10 percent), Singapore (5.7 percent) and China’s Hong Kong (3.4 percent).
In the four-month period, foreign businesses bought shares and contributed capital to state-owned enterprises, with total capital mounting to 1.83 billion USD, up 30.6 percent year on year. The realty sector was the largest recipient at 24 percent of the total.
Experts said foreign cash flow to the sector will increase in the near future, especially after Chairman of the municipal People’s Committee Nguyen Thanh Phong said at the recent investment promotion forum that the city is seeking foreign investment in 29 urban development projects, including several condominium projects.
Chairman of the HCM City Real Estate Association Le Hoang Chau said foreign investment in infrastructure and urban area development improves the local transport system and speeds up urbanisation rate.
However, local authorities should work to put forth investment procedures and shorten time for land clearance so the projects can be carried out soon.
Meanwhile, Director of the municipal Department of Planning and Investment Le Thi Huynh Mai said administrative reform is a key to facilitate investments of foreigners.
1. Credit quota expansion yet to be approved for all 2. How will the US-China trade war affect Vietnam's financial market? 3. An Giang sees border import-export earnings up 23pct 4. US gets tough on Vietnamese goods' origin traceability 5. Industry ministry, EVN responsible in case of power shortage: PM ----and more news
1. Primary equipment and materials supply-bid cancel2. Surge arrester and accessories supply-bid cancel3. Vocational training equipment supply4. Road construction-bid extend5. Optical cable network construction----and more news
1. Foreigners legible to make term deposits at local banks 2. Loosening foreign ownership threshold in banksan irreplaceable position 3. Businesses must accept long-term investments when pursuing Insurtech model 4. Pangasius exports to Southeast Asia up 14.6 per cent 5. Vietnam sees surge of breaded shrimp exports to US ----and more news
In other markets such as South Korea, Japan, Singapore and Thailand, a number of FDI firms are listed on the stock markets and there is no difference or discrimination between foreign-invested firms and domestic firms.
1. Prestressed concrete sleepers supply2. Contrast agent supply-bid extend3. Neuromuscular stimulation device supply4. Auxiliary materials supply-bid cancel5. Equipment and materials supply-bid extend----and more news
The successful signing of EVFTA agreement will create great opportunities for businesses and investors of both sides in the future. From an export perspective, EU is a big trading partner of Vietnam with a market of 512 million people and high income. This will be a fertile land for Vietnam's spearhead exports such as textiles, footwear, agricultural products, wooden products.