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News Release

Vietnam

JLL Market Watch W50 2016


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World Bank: Vietnam's medium-term outlook remains favorable

According to the World Bank’s (WB) latest Taking Stock report, Vietnam’s economy remains resilient in the medium term thanks to energetic domestic demand, low inflation, and export-oriented manufacturing, with average at 5.5% of GDP over the past five years and is expected to remain at around 6% this year. Besides, FDI inflows remain robust and Vietnam’s limited exposure to portfolio investment contained the impact of recent global financial volatility.

     
    
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Vietnamese Government wants energy-efficient buildings

Vietnam is going through a construction boom, with apartment and office buildings mushrooming, and energy efficiency is imperative, Nguyen Cong Thinh, head of the Ministry of Construction’s science, technology and environment department, told a seminar in HCM City yesterday.  Officials say new buildings should pay attention to construction materials, air conditioning and ventilation systems, lighting, elevators, automatic power cut-off, and hot water system ro reduce their energy consumption.
  
      
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Vingroup to build VinCity's projects for middle income families

Vingroup is planning to build 200,000 to 300,000 affordable apartments named VinCity with prices from USD 31,800 per unit in the next five years. In the first period, the middle range VinCity brand will be implemented in seven provinces and cities, such as Hanoi, Ho Chi Minh City, Hung Yen, Hai Phong, Thanh Hoa, Ha Tinh and Nha Trang. The residential projects will be designed with a synchronized infrastructure and services, including education, health care, sport, culture, shopping and entertainment.
  
      
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HCM City to build 30km elevated road in 2017

Construction of HCMC’s elevated road No.5 linking Hanoi Highway in Thu Duc district with the Tan Tao – Cho Dem junction in Binh Tan district will begin next year. The Department of Transport said the 30.4km road would be 17.5 metres wide and have four lanes. It will pass through Thu Duc district, District 12, Binh Chanh district and Binh Tan district. The road will cost 17 trillion VND (772 million USD) and be built in BOT (build – operate – transfer) mode.

     
    
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First hotel project lisenced into hi-tech park

Beton 6 Construction & Civil Engineering Corporation was awarded a license on December 6 to develop a commercial center and a hotel inside the Saigon Hi-Tech Park in District 9, HCMC, the first time such facilities are to be developed in the park. Beton 6 will pour some VND453 billion to develop the Saigon East Commercial Center, comprising a trade center and a convention-hotel complex, in the hi-tech park. The trade center, named Satra Center Mall, will have total floor space of 32,000 square meters, mainly catering to experts, workers and students in the park, as well as residents in nearby areas.
  
      
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LED market in Vietnam to grow

As the report “Vietnam LEDs market – drivers, opportunities, trends & forecasts: 2015-2022”, the light emitting diode (LED) market in Vietnam is expected to grow at a compound annual growth rate (CAGR) of 18.2 per cent during the 2016-22 period, reaching USD 729 million by 2022. This category is predicted to make the largest contribution to economic growth, thanks to the entry of large multi-national companies (MNCs), decreasing LED prices, and industrial development of the Vietnamese market.

     
    
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Hanoi economic growth hits a six-year peak

According to Nguyen Doan Toan - Deputy Chairman of the municipal People’s Committee, despite failing to hit the yearly target of 8.5-9 per cent, Hanoi’s economic growth reached at 8.03 per cent in 2016, has hit its highest level in six years. Foreign-invested capital on projects recorded at USD 2.8 billion, increasing 2.6 times compared to the previous year.
  
      
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Quang Ninh heats up with investment flow

Quang Ninh has proved its attractiveness to both domestic and foreign investors, which can be seen in the flow of investment in recent years. The provincial Department of Planning and Investment reported that there were 111 valid FDI projects with a total registered capital of USD 5.1 billion as of the beginning of this year, attracting foreign big names such as ISC Corp, Wyndham and Starwood from the U.S, Amata of Thailand and Nakheel Properties of the UAE.

     
    
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Dong continuously slides against dollar on local market

The State Bank of Viet Nam has recently announced the Dong-dollar reference exchange rate at VND 22,120 per dollar. With the current trading band of 3 per cent on either side of the central bank’s reference rate, commercial banks are allowed to trade the dollar at between VND 22,456 and VND 22,784. On the informal market, the dollar was sold at VND 23,320 per dollar and bought at VND 23,220.

     
    
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