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News Release

Vietnam

JLL Market Watch Week April 10, 2017

According to the National Centre for Socio-Economic Information and Forecast, Vietnam’s GDP in the second quarter of this year is forecast to expand 5.6%, higher than the 5.1% rate in Q1.


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Vietnam's GDP forecast to expand 5.6% in Q2

According to the National Centre for Socio-Economic Information and Forecast, Vietnam’s GDP in the second quarter of this year is forecast to expand 5.6%, higher than the 5.1% rate in Q1. Also forecast GDP growth for 2017 would be 6.2% and investment by private and foreign direct investment firms would be better in Q2, thanks to the Government’s efforts in improving the business climate.

  
      
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Transfer centre to be built in City hi-tech park

The Management Board of the HCM City-based Saigon Hi-tech Park awarded an investment licence to construct a USD25 million technology transfer centre in the city. This project is expected to finish in the third quarter of 2019. Covering an area of 17,550 sqm in the park, the Wesgo centre is designed to foster international cooperation, knowledge access, technology transfer, and application of new technologies in domestic production.

     
    
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Flow of FDI to HCMC up 56.7%

HCMC attracted nearly USD 575 million in FDI in the first quarter of 2017, an increase of 56.7% y-o-y, according to the municipal Department of Planning and Investment. The city granted investment certificates to 141 projects with a total investment of USD 133 million and 42 existing projects with a combined capital of over USD 89 million. Malaysia topped the city’s FDI sources with over 44 million USD, followed by Japan with 29 million USD.
  
      
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City chairman approves USD 220 million to build bridge to coastal district

HCMC People’s Committee has approved a proposal to build a bridge to coastal district Can Gio and replace Binh Khanh ferry. The bridge will be designed with permissible speed of 60 kilometers an hour. Its face is 40m wide comprising six lanes and connecting Nguyen Luong Bang street, District 7 with Sac Forest street in Can Gio. This project is expected worth USD220 million.

  
      
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Saigon Receives USD 1.8 billion in Investments from Viet Kieu in 2016

The HCMC Department of Planning and Investment’s report shows that the Vietnamese diaspora invested around USD1.8 billion in more than 900 businesses in Saigon in 2016. Overseas investment in the country as a whole hit USD9 billion last year.

     
    
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HCMC to open eight pedestrian streets downtown

The HCMC Department of Transport has proposed opening eight pedestrian streets in the downtown area. The downtown area would be divided into five separate zones, with eight streets, or at least part of the streets, transformed into pedestrian areas. This decision is part of a programme to reduce traffic congestion and accidents to 2020.

  
      
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SBV to issue regulations on USD 4.4 billion preferential credit package in April

The State Bank of Viet Nam will issue regulations on directing and guiding commercial banks to implement a USD4.4 billion credit package with preferential interest rates for high-tech agriculture projects. Interest rates of the loans will be some 0.5-1.5% per year lower than the current average lending rates.

     
    
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Air Asia to invest in USD 43.8 million JV for low-cost airline in Vietnam

Malaysian budget carrier Air Asia Bhd is forming a USD 43.8 million joint venture for a low-cost airline in Vietnam where Air Asia will contribute 30% of the capital to the JV, that is expected to start flying early next year.
  
      
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HCMC approves 372 new gas stations

The government of HCMC has approved a plan to set up 372 new gas stations between now and 2030, mostly in outlying districts. The Department of Industry and Trade has forecast that the city will consume some 2.3 million cubic meters of fuels by 2020, about 3.2 million cubic meters by 2025 and nearly 4.3 million cubic meters by 2030.
  
      
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Dong Nai continues to lure foreign investment

Dong Nai attracted USD314 million in FDI in 1Q17, up 53.4% y-o-y and reaching 31.4 of its yearly plan, including USD137 million of the investment registered to be poured into 15 newly-approved projects, while USD177 million was added to 16 existing projects. New projects came mainly from South Korea, Japan, Singapore, British Virgin Islands and Germany.
  
      
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