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News Release

Vietnam

JLL Market Watch Week July 31, 2017

By JLL


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1. Government targets 6.4-6.8% growth in 2018
The Ministry of Planning and Investment is targeting an economic growth rate of 6.4 to 6.8 per cent for Viet Nam in 2018, according to a document sent to ministries and local authorities with guidelines to develop the socio-economic plan for 2018. The growth would continue to improve, fuelled by increases in manufacturing, construction, trade, banking and tourism sectors.

2. Manufacturing, processing industry lures FDI
Vietnam’s manufacturing and processing industry attracted 12,075 foreign-invested projects with a total registered capital of 180.68 billion USD as of late June, according to the Ministry of Planning and Investment. FDI flowing into manufacturing and processing industry is a positive sign, helping Vietnamese firms access advanced technology. ​

3. HCMC to build apartments with price at VND300m
Minister of Transport Truong Quang Nghia made the proposal to Hiroshi Narahira, Deputy Minister of Land, Infrastructure, Transport and Tourism (MLIT) at a meeting on July 13. Specific projects in the cooperation programmes included the technical support for prefeasibility study of important transport projects, such as the North-South Expressway, North-South High-Speed Railway, metro lines, and Long Thanh International Airport.
4. Three foreign firms to invest in Hanoi's urban railway network
Three foreign investors and six Vietnamese companies will build urban railway lines in Hanoi as the city revs up its public transport system. The construction of the railway lines is part of the city’s plans to enhance its public transport network and limit personal vehicles in the central business district by 2030. According to the city’s master plan for 2030 and vision to 2050, Hanoi will have ten urban railway lines with a combined length of 417.8 km.

5. Vietnam hospitality wins big
The government is allowing Vietnamese locals to gamble at two locations – the first in Van Don and the other on Phu Quoc Island – as part of a three year pilot scheme. A third site in Ho Tram is expected to be added to the list. The news has stirred the interest of international big names such as Las Vegas Sands along with local conglomerates like Sun Group, which has so far been the only Vietnamese company approved to develop a casino in Van Don. 
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6. Dragon Capital to invest in $44 million solar farm in Can Tho
Solar power field is still a lucrative field as evidenced by a growing number of foreign investors expressing intentions to pour capital into new projects. Gavin Smith, general director of Dragon Capital, announced plans to build a solar power project with an initial capital of VND1 trillion ($44 million) and a designed capacity of 40MW in the Mekong city of Can Tho at the working session with representatives of the Can Tho People's Commiittee on July 25.
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7. Online business registration hits new record high
As registering business online is now completely free of charge and easier than ever, the number of firms engaged in online registration is expected to reach 30 per cent of the total this year. Ho Chi Minh City has been named as one of the localities taking the lead in online business registration, with 25.3 per cent of city-based firms registering their businesses online last year – 62 per cent in the fourth quarter.
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8. VN among top ten US home buyers
The report revealed that foreign buyers and recent immigrants purchased a total US$153 billion of residential property, jumping 49 per cent over the previous 12-month period and surpassing the previous record of $103.9 billion in 2015 to set a new high. Overall, 284,455 US properties were bought by foreign buyers, up 32 per cent from 2016. This figure accounted for 5 per cent of existing home sales.
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