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SECOND HOME REAL ESTATE ON THE SLOW PATH TO RECOVERY
According to a report by DKRA Vietnam, the supply of villas and town houses across the country continued to decrease from the end of the second quarter of 2022. Specifically, in April only two projects were opened for sale, providing 12 apartments to the market, down 69 per cent from the previous month and down 98 per cent compared to the same period last year.
AROUND 88,000 FIRMS EXIT MARKET IN JANUARY-MAY
Around 25,500 firms have halted their operations and are awaiting dissolution, surging 34.1% against the year-ago period, while 7,300 others have completed procedures for disbandment, a 6.5% year-on-year rise.
VIETNAM PROJECTED TO BECOME 20TH LARGEST GLOBAL ECONOMY
According to the International Monetary Fund (IMF), Vietnam's GDP based on purchasing power parity (PPP) stood in 25th position globally in 2022, ranking just below countries such as Australia, and Poland.
PM ORDERS ENHANCEMENT OF FOREIGN INVESTMENT ATTRACTION EFFICIENCY
Under the document, ministers and heads of minister-level agencies, Government agencies and chairmen of the People’s Committees of centrally-run cities and provinces must promptly implement tasks assigned on them earlier in luring foreign investment.
NEW DECREE TO RAISE INVESTOR CONFIDENCE IN LEISURE PROPERTY MARKET
A new government decree is expected to help remove difficulties for the domestic leisure property market, which is experiencing a 10-year low in demand, experts have said. Decree No. 10/2023/ND-CP on amending and supplementing some articles of the decree guiding the implementation of the Land Law has come into force from May 20, 2023.
CASHLESS DAY 2023: DIGITAL PAYMENTS DRIVE FINANCIAL TRANSFORMATION
With non-cash transactions surging by 53 per cent in volume and internet-based transactions skyrocketing by 88 per cent in volume, Vietnam's drive towards a cashless society is gaining momentous growth, empowering 75 per cent of its population with active bank accounts and registering over 3.71 million mobile money accounts.
CUT ON AUTOMOBILE REGISTRATION FEES TO FACILITATE AUTO INDUSTRY
Nguyễn Ngọc Thanh, Deputy Director of the Department of Industry under the Ministry of Industry and Trade, said that many reasons greatly affected the consumption of automotive products such as difficult access to bank capital, high interest rates, high exchange rates and inflation, leading to high inventory of auto products in recent years.
VIETNAM’S OUTBOUND INVESTMENTS DOWN IN JAN-MAY
Vietnamese businesses have poured US$316.4 million into their projects overseas in the past five months, down 6.5% against the same period last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
