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News Release

Vietnam

JLL Market Watch W44 2016


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Hanoi rekindles Song Hong City

The Hanoi People’s Committee has decided to restart the riverside megacity project along the Red River, called Song Hong City, after 22 years on the drawing board. First proposed in 1994, plans are back in train to develop the project on the banks of the Red River. The details have not been finalized, Mr. Ta Nam Chien, Manager of the General Planning Department under the Hanoi Department of Planning and Architecture, confirmed.

  
      
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Vietnam moves up in World Bank's Doing Business Report

World Bank report for East Asia and Pacific puts Vietnam up nine places in ease of doing business. According to the World Bank Group’s annual ease of doing business report released yesterday in Washington D.C., economies in the East Asia and Pacific region are steadily making progress to ease the process of doing business. Vietnam ranked 82nd this year in the Doing Business Report after ranking 91st last time.

     
    
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Realty market to improve next year

HCMC – Experts said the real estate market will improve next year based on the business performance of enterprises in the sector this year. Dang Hung Vo, former Deputy Minister of Natural Resources and Environment, said that “There have been more positive signs for the local market, which is evident in more successful transactions, falling inventories and increased disbursements of loans for housing projects”. He is confident in the market has gradually improved, adding the market will keep recovering next year. In the coming years, the market will not experience such price rallies thanks to the new legal documents and higher market transparency.
  
      
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Lotte moves into e-commerce

South Korea's Lotte launched an e-commerce site on October 24 with the goal of staking out a 20 per cent market share in Vietnam’s e-commerce sector. Managed by the Lotte E-commerce Co., the site offers all fast-moving consumer goods (FMCG) from Lotte Mart as well as luxury cosmetics and fashion items from the Lotte Department Store.  Lotte now covers all retail channels: supermarkets, TV sales, online and mobile.

     
    
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New bridge to connect District 6 and District 8 in HCMC

About VND3.5 trillion will be invested to build a bridge linking districts 6 and 8 of HCMC and spanning Tau Hu and Doi canals. The city government has approved the selection of four investors for the Binh Tien bridge and road project, according to a source from the Department of Transport. The section costs an estimated VND2.6 trillion, of which site clearance and compensation account for VND925 billion.
  
      
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Vietnam plans new law for venture capital investments

Vietnam plans to implement a new law that will govern the establishment of domestic venture capital (VC) funds, and help funnel investments into startups in the country, that has become an emerging markets standout with steady growth.  According to the Communist party’s draft socioeconomic plan, Vietnam will target 7 per cent growth annually until 2020. The draft law on support for small and medium enterprises (SME), which is expected to be passed during the country’s third parliamentary session this year, has a dedicated section for startup companies, which it calls “innovative businesses”.

     
    
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Local firms urged to exploit EU market

Vietnamese firms must draw up long-term business strategies to exploit opportunities in the European Union (EU), as the EU-Vietnam Free Trade Agreement (EVFTA) will come into force by 2018. In the past few years, trade between Vietnam and EU has been on a continuous rise. In the first half of this year, the total import-export turnover to EU touched USD 21.2 billion, increased 9.05 percent year-on-year. The annual growth rate of Vietnam’s export turnover to EU could be 4 to 6 percentage points higher once the EVFTA comes into effect. The trade pact would promote the Vietnamese export of key products such as garments and textiles, leather shoes and seafood to one of the most developed economic regions in the world.
  
      
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