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News Release

Vietnam

JLL Market Watch Week Dec 25, 2017

By JLL


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1. JLL: HCMC demand for office space continues to outpace supply
With a lack of supply and increasing rents in Ho Chi Minh City’s existing central business district (CBD) and the completion of major infrastructure within Thu Thiem, it is anticipated that those with large head office requirements will begin to consider the latter a viable alternative, according to Mr. Greg Ohan, Director of Solutions Development at JLL Vietnam.

2. Strengthening linkages between FDI and domestic enterprises to support industry development
According to data from the Foreign Investment Agency (FIA) of the Ministry of Planning and Investment, in the first 11 months of 2017, FDI attraction hit $33.09 billion and disbursed capital $16 billion, which are the highest figures over the last ten years. The FDI sector’s GDP contribution has been rising to over 20 per cent of the GDP, and 70 per cent of export turnover, creating 3.7 million jobs directly and millions more indirectly.
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3. $1bn price tag on extensions to HCMC's Metro Line 1
The total capital needed to extend Metro Line No. 1 from Ho Chi Minh City to Binh Duong and Dong Nai provinces is about VND21.234 trillion ($943.7 million), according to figures from a Japanese research team. The Ho Chi Minh City People’s Committee has approved the extension of Metro Line No. 1 from Suoi Tien Station to Bien Hoa city in Dong Nai and Di An commune in Binh Duong, in order to resolve traffic jams between Vung Tau and Suoi Tien.
4.  Ha Noi prepares land for developing resettlement apartments
Under the proposals, Ha Noi will prepare land and select developers with adequate capacity to develop these resettlement housing projects. An important criterion for developers is that they must promise not to calculate loan costs in the apartment price. It was estimated that the city needed more than 22,130 apartments by 2020 to meet the resettlement demand for site clearance to implement infrastructure development projects. Currently, some 4,500 resettlement apartments were being developed and the city needed another 17,600 units.

5. Vietnam receives highest-ever FDI inflow in 2017
Vietnam’s actual foreign direct investment reached an estimated $17 billion this year, which is the highest annual amount ever recorded by the country, according to official figures.Officials from the Ministry of Planning and Investment said at a conference last week that Vietnam has enjoyed its best year for foreign investment. While the actual inflow has set a new all-time record by beating last year’s $15.8 billion, FDI pledges in 2017 also hit a 10-year high of $35 billion.
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6. Vietnam’s sole oil refinery operator aims to raise $155 mln from January IPO
Binh Son also plans to offer a 49 percent stake in the refinery to strategic investors. Vietnam’s only oil refinery operator is planning to sell a 7.79 percent stake at an initial public offering (IPO) in January from which it hopes to fetch $155.5 million. Binh Son Refining and Petrochemical Company, which owns the $3.2 billion Dung Quat refinery, is set to offer 242 million shares at an initial price of VND14,600 ($0.64) apiece, CEO Tran Ngoc Nguyen said at a press conference in Ho Chi Minh City on Wednesday.​
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