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News Release

Vietnam

JLL Market Watch Week Jan 16, 2017

Another productive year for Vietnam’s real estate market in 2017


                 
                       
World Bank reaffirms bright outlook for Vietnam's economy in 2017

The World Bank reported that Vietnam’s economy would expand at an average of 6.3 percent in the next three years, with all categories of demand buoyed by strong foreign direct investment and manufacturing exports. In addition, Vietnam has improved its business environment over the years and foreign companies continue to invest in the country to take advantage of its highly competitive labour and low cost.

     
    
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JLL: Real estate to continue developing

JLL Vietnam has reported that the real estate markets in both HCMC and Hanoi had a very strong 2016, with multiple new highs recorded in all sectors. The market in Vietnam will witness other improvements in 2017, with a positive focus in low- to mid-end residential in cities, Ho Chi Minh City’s office market, hospitality, and industrial, said Mr. Stephen Wyatt, General Director of JLL Vietnam.
  
      
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Ben Thanh shopping center to get green light

The government has approved the construction of USD 300 million underground shopping center at HCMC's Ben Thanh Market train station, according to a study by the Japan International Cooperation Agency (JICA). The 45,000 sqm will have a shopping area on 18,100 sqm and an underground square on 21,500 sqm, located at the Metro Line No. 1 (Ben Thanh - Suoi Tien) station at Ben Thanh Market, underneath Quach Thi Trang Square and along Le Loi Street, running from the market to the Opera House area.
  
      
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Business wages rise in Vietnam in 2016: Ministry

The Ministry of Labour, Invalids and Social Affairs investigated wages in 2,000 businesses with an average of 360 employees in 18 cities and provinces nationwide in 2016, with results indicating an increase from 2015. Average monthly income in 2016 was estimated at 6.03 million VND, equivalent to 267 USD, an increase of 5.4 percent against 2015.

     
    
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HCMC to build bus-only lanes in 2017

The HCMC Department of Transport will finish mapping out a plan to build bus-only lanes on some roads and options for implementing the plan to improve public transit services in the first quarter of 2017. Namely, the key streets to be chosen for the plan include Truong Chinh, Vo Thi Sau, Nam Ky Khoi Nghia, Nguyen Van Troi, Dien Bien Phu and Pham Van Dong.
  
      
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Remittances to HCM City reach 5 billion USD in 2016

According to Deputy Director of the State Bank of Vietnam’s Ho Chi Minh City, remittances to HCMC reached USD 5 billion in 2016, accounting for 57-58 percent of the national figure, a rise of about 11 percent y-o-y. Of the remittances to the city, 72 percent were invested in production, 21.8 percent in real estate, and 6.2 percent to support families. Additionally, the city also recorded a year-on-year increase of 5 percent of remittances withdrawn in VND.

     
    
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Samsung Display plans to invest another USD 2.5 billion in Vietnam: Yonhap

Samsung Electronics Co Ltd's display panel subsidiary plans to invest another USD 2.51 billion in Vietnam to boost capacity, and still be in talks with Vietnamese authorities about the additional investment, due to Vietnam is a major smartphone manufacturing base for Samsung Electronics and its subsidiaries, which have already invested billions of dollars in the country.
  
      
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Mekong Capital invests in F88

The Mekong Enterprise Fund III Ltd (MEF III), managed by private equity firm Mekong Capital, had an investment deal with the Ha Noi-based pawn shop chain F88, which was founded in 2013, pioneered the commercialisation of pawn services in Viet Nam. It currently operates 15 shops in Ha Noi and the surrounding provinces and targets expanding its business network to 70 shops by the end of this year. The value of the deal has not been officially announced, but it is believed to be an eight-digit number, according to a source familiar with the deal.

     
    
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Vietnam's car sales hit record in 2016 amid tax cuts

According to Vietnam Automobile Manufacturers’ Association, Vietnamese consumers bought 304,427 cars last year. Sales of cars assembled in Vietnam soared nearly 32%, while imported units saw a 5 percent y-o-y increase, thanks to a booming economy has created more wealth for local purchasers, who are switching from motorbikes to cars, and from cheap cars to luxury models.

     
    
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