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News Release

Vietnam

JLL | Market Watch week, Sep 11, 2017

by JLL


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1. Casino business: Commercial banks allowed to provide services
Vietnamese citizens are also permitted to enter domestic casinos on a three year trial basis. They must be 21 years old or above with full capacity for civil acts of individuals according to Vietnamese law, have proof of regular monthly income of VND10 million ($450) or be subject to third degree taxation according to the law on individual income tax. Furthermore, Vietnam hopes to further integrate regionally and internationally, attract billions of dollars of foreign investment to sustain growth and make tourism a key sector to further development..

2. Vietnam's three growth scenarios for 2018
After releasing a special forecast in which the economic growth target of 6.7% for 2017 is said to be “achievable with drastic efforts,” The Ministry of Planning and Investment (MPI) has officially submitted to the government three scenarios for economic growth in the coming year. Accordingly, in the low growth scenario, GDP is expected to grow by 6.4%, while in the medium growth scenario, the projected growth rate is 6.5%, and in the high growth scenario, it is predicted to hit 6.81%.
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3. Vietnam Wants to Make Its Own Cars
Vietnam wants to design and make cars for its 90 million motorbike and scooter riders. The country’s largest real-estate company Vingroup said it plans to invest up to $3.5 billion to set up a manufacturing and research and development complex, aiming to roll out the first car in 24 months. The developer will break ground on the $1 billion to $1.5 billion first phase of the plant, with a plan to make sedans, sport utility vehicles and electric cars in the future​.
4.  Ho Chi Minh City’s economy on steady growth track
Ho Chi Minh City’s economy continued its steady growth in the first eight months this year, said the municipal authorities during a working session reviewing the city’s performance in the period on September 5. Four key industries, namely mechanical engineering, electronics, chemicals and food processing, continued expanding their markets. Investment in advanced equipment to improve quality and competitiveness surged 11.8 percent year-on-year.

5. An Giang earns over 500 million USD from export in 8 months
The Mekong Delta province of An Giang earned 506.3 million USD in the past eight months, up 6.5 percent year on year, fulfilling 61.7 percent of the yearly plan, reported the provincial Department of Industry and Trade. The high result was mostly due to growth in exports of rice and frozen Tra fish. In the reviewed time, the province shipped abroad 243,400 tonnes of rice for 112.6 million USD, equal to 92.7 percent of the revenue in the same period last year.​
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6. Minimum wage hikes seen sending production costs soaring
The Son My 2 is one of the nine gas-fuelled power projects that the Government has assigned PetroVietnam to invest in. The project consists of three power plants using liquefied natural gas, with designed capacity of 750 MW each. Built at the Son My industry-services-gas complex in the central coastal province of Binh Thuan, the facilities are set to become operational in 2023, 2024 and 2025.​
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7. VN Index hits 10-year high on rally​
Vietnam’s benchmark VN Index rallied for a seventh session on September 8, driven by leading stocks in real estate, food and beverage, insurance-finance and construction sectors.​ The benchmark index on the HCM Stock Exchange gained 0.56 percent to touch its 10-year high of 801.20 points.
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