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News Release

Vietnam

JLL Market Watch Week May 22, 2017

By JLL


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1. Vietnam among Asia’s growth leaders
In a recent article, New York-based media firm Bloomberg has cited IMF outlook that Southeast Asia, including Vietnam, is taking over as the region's growth leader. According to the outlook, expansion of the ASEAN 5, consisting of Vietnam, Indonesia, Malaysia, the Philippines and Thailand will exceed 5% through 2022. Also, infrastructure spending by the 10-member Association of Southeast Asian Nations will average USD 110 billion a year through 2025, according to Ernst & Young LLP.

2. Interest rate for social housing loans
According to a decision signed by Prime Minister, the Vietnam Bank for Social Policies interest rate for social housing loans in 2017 will be 4.8% per annum. It is lower than the 5% interest rate (or not exceeding 6 % in subsequent years) applied in the VND 30 trillion housing stimulus package aimed primarily at social policy beneficiaries and people facing financial difficulties. 

3. All vehicles allowed travelling through Go May flyover
Go May Flyover in Binh Tan district has recently inaugurated. The project was designed two branches with a length of 538.62 meters, a width of 12.15 meters and three lanes for each one, contributing to reduce traffic jam​​​ on the National Highway 1A. Vietnam Urban and Industrial Zone Development Investment Corporation is main investor of the project with total investment capital of up to VND 511 billion. 

4. Ground broken on coastal road connecting Hai Phong, Thai Binh
The coastal road connecting Hai Phong and Thai Binh has been broken ground with a total investment of USD 152.24 million. The 20.7 kilometre section through Hai Phong city features four bridges, and spans nine kilometres in Thai Binh province with four small bridges. This project is expected to meet the increasing demand for transportation in the region, promote socio-economic and tourism development.​
5. Hanoi Seeks Airport Expansion to Avoid Overcrowding
Hanoi authorities are pushing for an enlargement of Noi Bai Airport in anticipation of a future passenger surge. If approved, two more terminals would be added to accommodate 50-70 million travelers a year.  Initial planning estimates put the cost of the project around USD3.3 billion. Hanoi is hoping to attract private funding for the project, as the city’s budget is currently stretched thin by multiple infrastructure upgrades, such as the upcoming metro lines.

6. Two pedestrian bridges to connect Ho Chi Minh City's D1, D2
Two pedestrian bridges connecting Bach Dang riverside park in District 1 with the Thu Thiem peninsula in District 2 will be built to establish a pedestrian-friendly link. An underground parking lot and shopping mall will also be developed to connect with the future Ham Nghi metro station, while a river taxi harbor will soon be inaugurated at the park as the city takes to water-based public transport as a solution to traffic congestion.
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7. Logistics firms increase cross-border transport
According to VLA’s statistics, in 2016, cargo shipped by land transit in Vietnam totalled 19,475 vehicle loads. Cargo shipments between China and Vietnam reached 107,600 loads. Amid a growing interest in Vietnam from global garment and technology companies, foreign logistics firms are expanding cross-border transport services between Vietnam, China, and other countries in the region to meet the growing demand.