Over 345 million USD in FDI poured into property sector
Foreign direct investment (FDI) flows into Vietnam’s real estate sector hit 345.5 million USD in February, accounting for 10.1 percent in total FDI poured into the country, increasing by 12 times year-on-year.
The VISIP I industrial park in Binh Duong province (Source: Internet)Real estate ranked first among sectors in FDI attraction during the period, with most projects developing industrial park (IP) infrastructure.
An IP project invested by the Vietnam Singapore IP Joint Venture Co., Ltd (VSIP) which covers 1,000 ha in the southern province of Binh Duong, was the biggest among the 11 FDI property projects in Vietnam in the period.
With the project, the third of its kind in Binh Duong, VSIP lifted its total number of IP projects in the country to seven.
Vietnam has attracted considerable FDI in IP infrastructure development and logistics from late 2016 thanks to improved economic growth. The country is said to be one of the most promising markets in Asia Pacific.
Other noteworthy FDI projects in 2016 included a complex of seaports and IPs worth 315.4 million USD in the Mac Dynasty Lagoon area, the northern coastal province of Quang Ninh, and an IP project with total capital of one billion USD by a Thai firm in the central province of Nghe An.
As of December 31, 2016, Vietnam was home to 324 IPs, with 220 operational.
According to Stephen Wyatt, General Director of the Jones Lang Lasalle Vietnam, 2017 will be a big year for Vietnam’s property market.
Vietnam’s property market will be able to witness recoveries in the year thanks to the increase in demand for apartment, office leasing space, hotel, and IP, he said.-VNA
You should also see
Youths' efforts yield socio-economic fruits
Many activities were carried out across the nation during the Vietnam’s Youth Month, an annual festivity taking place in March to celebrate the establishment of the Ho Chi Minh Communist Youth Union (HCYU), contributing to the nation’s socio-economic development, heard a conference held by the union's Central Committee in Hanoi on April 23.
See more
Business
Ca Mau: Conference connects Vietnamese, Chinese firms
A networking conference was held in the Mekong Delta province of Ca Mau on April 24, in a bid to connect 54 local enterprises, mostly operating in the seafood sector, to their Chinese peers.
Business
Mining Vietnam 2024 opens in Hanoi
The 6th International Mining and Minerals Recovery Exhibition for Vietnam (Mining Vietnam 2024) kicked off in Hanoi on April 24.
Business
Standard Chartered revises down Vietnam’s GDP growth forecast in 2024 to 6%
Standard Chartered Bank has lowered Vietnam’s GDP growth forecast in 2024 to 6% from the previous 6.7% due to lower-than-expected Q1 growth and global trade headwinds.
Business
Auction for gold bullion to continue on April 25
Another bidding session for 16,800 taels of gold bullion will be held on April 25, the State Bank of Vietnam said in a statement.
Business
Over 20,000 products exhibited at Global Sourcing Fair Vietnam 2024
The Global Sourcing Fair Vietnam 2024 hosted by Global Sources kicked off in Ho Chi Minh City on April 24 with the participation of over 400 Vietnamese exhibitors and those from other Asian nations who are showcasing over 20,000 export-standard products across various industries.
