Real estate retains second position in FDI attraction
Real estate remained the second biggest magnet for foreign direct investment (FDI) in 2019, following processing – manufacturing, as it attracted 3.88 billion USD of FDI, equivalent to 10.2 percent of the total registered.
About 3.88 billion USD of FDI was poured into the real estate market in 2019 (Photo: VNA)
Hanoi (VNA) – Real estate remained the secondbiggest magnet for foreign direct investment (FDI) in 2019, followingprocessing – manufacturing, as it attracted 3.88 billion USD of FDI, equivalentto 10.2 percent of the total registered.
The Ministry of Construction said the realestate market last year developed rather stably, in terms of supply, number oftransactions, prices, outstanding credit and foreign investment.
The ministry predicted that “bubbles” in themarket are unlikely in 2020.
However, it also forecast possible land pricehikes in the areas designated to become special zones or new residential areaswith synchronous infrastructure, as well as in the housing projects that arelocated in downtown areas, developed by prestigious investors, and have fastconstruction progress and good infrastructure.
This is also the rule of the market, theministry noted.
Meanwhile, the market may witness decline incertain segments due to supply-demand imbalance or difficulties in someproperty projects, especially in the two largest metropolises of Hanoi and HoChi Minh City./.
Only 28 percent of industrial zone workers are provided with stable accommodation, while the rest have to rent houses with poor sanitation and infrastructure.
Investment in condotels remains appealing despite defaults in profit commitments by property developers, but a clear legal framework is needed to protect investors’ rights, according to experts.
There was not a single social housing project in Ho Chi Minh City this year, and with support funds for them being limited, there is a fear the situation could continue, experts said.
Vietnam's real estate market will not be short of capital next year but will still face many challenges from policies and administrative procedures, experts said at the annual Vietnam Real Estate Forum.
Total inflows of foreign direct investment (FDI) into Vietnam amounted to 38.02 billion USD this year to December 20, a 10-year high, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
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Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
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Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
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Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
About 3.88 billion USD of FDI was poured into the real estate market in 2019 (Photo: VNA) 
