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Vietnam

JLL | Market Watch week, Sep 02, 2017

2017-09-02T05:00:00Z

by JLL

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1. Foreign investment on rise in Vietnam
The reports from the Foreign Investment Agency (FIA) showed that foreign investors had registered to invest USD 23.36 billion into Vietnam since the beginning of this year until August 20 period, up 45.1%y-o-y. Last year, Vietnam reported a total registered capital of 24.3 billion USD from foreign investors, up 7.1 percent against the previous year.

2. HCM City’s CPI rises 0.5% in August
According to the municipal Statistics Office, the prices of six out of 11 surveyed goods groups witnessed month-on-month increases, with the highest surge of 2.53 per cent seen in transport. The price of food and catering services went up 0.6 per cent, while the price of culture, entertainment and tourism services increased by 0.3 per cent. The price of housing, electricity, water, fuel and construction materials rose 0.28 per cent, education was up 0.12 per cent and other goods and services increased 0.04 per cent from July.
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3. Number of new firms increases by 16%
According to statistics of the Business Registration Department under the Ministry of Planning and Investment, more than 85,350 firms were established in the first eight months of this year with total registered capital of VND 822 trillion. Notably, average capital for a business rose 24.5% over the same period last year to reach VND 9.6 billion.
4.  Ho Chi Minh City pilots first water bus service
Ho Chi Minh City’s first-ever river bus will be piloted in the hope of relieving pressure on the city’s crowded streets. The water bus route No.1, stretching 10.8 kilometers from Bach Dang Port in District 1 to Linh Dong Ward in Thu Duc District was opened as part of a one-month pilot program. The journey includes 12 stops dotted across District 1, District 2, Binh Thanh District, and Thu Duc District.

5. Q2 consumer confidence at five-year high
Consumer confidence in Vietnam continued to see significant improvements in the second quarter that helped the country become the fifth most optimistic globally, with an index score of 117, 5 points higher than in the fourth quarter of 2016 and the highest for the last five years, according to the latest Nielsen’s Consumer Confidence Index released on August 23.
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6. Minimum wage hikes seen sending production costs soaring
The Ministry of Labor, Invalids and Social Affairs, which is drafting a decree on the region-based minimum wages, proposes a wage increase of 6.5%, or VND180,000-230,000 a month, which would go into force early next year.
This is also what the National Wage Council, and representatives of employers and employees have agreed upon after three rounds of negotiations. The current inflation rate of 4-4.5% is taken into account to guarantee a real wage rise for workers and labor productivity growth of 2-2.5% in a bid to meet 92-96% of their minimum living needs, according to the ministry.​
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7. Binh Duong urges investment in hi-tech fields​
The statement was made by Tran Thanh Liem, chairman of Binh Duong People’s Committee, at his meeting with James Ha, chairman of South Korea-based Sae-A Group, held in Binh Duong on Tuesday. Besides the existing industrial parks, Binh Duong Province plans to establish new industrial zones to welcome investment from foreign investors, Liem said, adding that by 2020, 14,000ha will be utilised for ​​industrial parks in the province.
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