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News Release

Vietnam

JLL Market Watch W45 2016


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UOB: Vietnam among most popular expansion destinations

According to United Overseas Bank’s Asian Enterprises Report 2016, Vietnam was listed in the top three most popular expansion destinations in South Asia, following Singapore and Japan. “Vietnam’s stable political environment, favorable economic conditions with low inflation and accommodative monetary policy, as well as its young and active workforce have added to the its attractiveness as an expansion destination,” the report stated.

  
      
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HCMC's Metro Line 1 may extend to Dong Nai and Binh Duong

Japan’s Ministry of Economy, Trade and Industry (METI) has recently agreed to support Ho Chi Minh City in conducting research on lengthening Metro Line No. 1 from the city to neighboring Binh Duong and Dong Nai provinces. Ho Chi Minh City’s Management Board of Urban Railways (MBUR) and a group with METI consisting of the Nippon Koei Company Limited and the Tokyu Corporation have proposed a detailed plan for the extension to Binh Duong and Dong Nai.

     
    
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Vietnam mulls taxing multiple-house owners

Vietnam’s Ministry of Finance is weighing up a policy that requires those who own more than one house to pay extra tax, a plan to which local experts have mostly responded positively. Deputy minister Huynh Quang Hai admitted that it is unlikely that the new tax policy will be issued before next year, but “it must be enacted in the future,” given the current tight state budget and the fact that “other countries have been collecting this kind of tax for years”, he said.
  
      
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Deutsches Haus HCMC marks milestone, celebrating its official topping out ceremony on last Tuesday

On 01st of November 2016, Deutsches Haus Ho Chi Minh City celebrated the official topping out ceremony. The event took place at the construction site of Deutsches Haus in Ho Chi Minh City. More than 400 guests from the German, Vietnamese and International business community in Vietnam, representatives from the Vietnamese and German governments and members of the Diplomatic Corps attended the event.

     
    
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10M trade surplus at $3.5 billion

In the first ten months of this year, export turnover reached USD 144.08 billion, up 7.2 per cent year-on-year (y-o-y), while import turnover was USD 140.56 billion, a 2.1 per cent increase (y-o-y), according to the General Department of Vietnam Customs. The surplus was almost USD 3.52 billion. Exports in the processing industry grew 8.9 per cent, with textiles, footwear, electronics, phones and accessories recording lower growth than in the same period of 2015.
  
      
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FDI disbursement up 7.6%

FDI projects were estimated to have disbursed USD 12.7 billion, rose 7.6 per cent compared to the same period of last year. New and additional FDI capital totaled USD 17.6 billion in the first ten months of the year, according to the latest report from the Ministry of Planning and Investment. Real estate was ranked at second place, with 46 new projects and total investment capital of USD 982.6 million, equivalent to 5.5 per cent of the total.

     
    
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CPI hits record monthly high in October

As the statistic of General Statistics Office (GSO), Vietnam’s October consumer price index (CPI) soared 0.83% against the previous month, the highest monthly growth rate this year. The nationwide CPI last month edged up 4% against December last year and moved up 4.09% year-on-year. In the first ten months of 2016, the average of CPI moved up 2.27% over the same period last year, with rural areas posting growth of 0.94% compared to 0.72% in cities. The cities and provinces whose consumer prices surged stronger than the national average included Hanoi with 1.82% and Gia Lai with 1.17%.
  
      
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Number of enterprises resuming operations up in 10M

The Ministry of Planning and Investment report shows that there were 22,486 enterprises resuming operations during the first ten months of this year, an increase of 38.8 per cent against the same period last year. The increasing in the number of enterprises is evidence that Vietnam’s economy is recovering. Namely, several certain sectors saw higher growth than others, such as education and training with 64.7 per cent, arts, entertainment and recreation 63.4 per cent, accommodation and food services 51.7 per cent, manufacturing 47.3 per cent, wholesale and retail trade and repair of automobiles, motorbikes and other motor vehicles 40.4 per cent, real estate 39.7 per cent, etc.

     
    
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Two-thirds of int'l tourists come from Asia

Asian visitors make up more than two-thirds of all international arrivals to Vietnam in the first ten month of this year. Data of the General Statistics Office (GSO) showed international tourist arrivals to Vietnam during in January- October 2016 amounted to eight million, up 25.4% year-on-year, with Chinese, South Koreans, Japanese, Taiwanese and other Asians accounting for approximately six million, in which of Asian visitors from China, South Korea and Japan number four million, half of all international arrivals.
  
      
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