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.
Just two months into the year 2020, the Vietnamese stock market has already undergone two different phases, according to SSI Securities Corporation. Phase 1, starting before the Lunar New Year or Tet holiday, witnessed the growth of key stock indices. Phase 2, starting after the Tet holiday, tanked as the Covid-18 epidemic broke out, erasing all gains from the start of the year.
Also debuting from 17 February to 29 April will be six new dishes featuring salmon, which as well as being delicious is packed with healthy vitamins and minerals. Some of the dishes include salmon with black pepper sauce, broccoli; salmon with lemon sauce, shoestring fries; and salmon rice with lobster soup.
1. Measurement and control equipment supply2. Chemicals, materials supply-bid cancel3. Conductors, meter tank and conduit boxes supply4. Electromagnetic copper wire supply5. Equipment and materials supply----and more news
1. Over 198 million USD raised from latest G-bond auction 2. Banks control costs, improve efficiency 3. The sun still shines in Vietnam: World Bank 4. Door opened for Vietnamese fresh lychee exports to Japan 5. Meeting discusses reforming the inspection model for imports and exports ----and more news
The district is projected to feature five economic areas including a high-class ecological resort area, an ecotourism area combined with the protection of natural heritages; an urban area for cultural and entertainment services; an area for commerce and industry, high technology and logistics; and a reserve area for future expansion.
The ACC’s special meeting, initiated by Viet Nam as current ASEAN Chair, aimed to discuss prompt implementation of the Chair’s Statement on the bloc’s collective response to novel Coronavirus (COVID-19) outbreak released on February 14.