Vietnam had nearly 600 new real estate companies in Q1: official data

Live Quote: On

RSS

My Page | Contact Us

RSS

RSS

Company A-Z | Stock Screener | My Portfolios | Streaming Quotes | Technical Analysis

Investing Tools

Useful Links

Tuesday, June 18, 2024 11:11:35 AM - Markets open

VN-INDEX

1,283.47

+8.70/+0.68%

HNX-INDEX

244.59

+1.43/+0.59%

UPCOM-INDEX

98.53

+0.45/+0.46%

Vietnam had nearly 600 new real estate companies in Q1: official data

Báo Thanh niên - 4/28/2016 11:29:32 AM

(0 ratings. You must sign in to rate.)

Print |

Add To Favorites |

Email |

RSS

The number of new businesses in Vietnam's real estate sector increased 146 percent year-on-year to 596 companies in the first quarter, according to the government's new data.

The new businesses had a combined registered capital of more than VND45.5 trillion (US$2 billion), up 407 percent from a year ago, the Ministry of Planning and Investment has reported.

No other sector saw such a sharp rise in both the number of newly-established companies and their capital.

A total of 23,767 new businesses were established across the country during the quarter, up 24.8 percent year-on-year, the ministry reported. The total registered capital was more than VND186 trillion ($8.25 billion), an increase of 67.2 percent.

Healthcare and social services had the second highest growth in the number of businesses, up 113 percent to 115, according to the ministry. Arts and entertainment was the only sector that saw a slump of 23 percent with 239 new companies.

By registered capital, information and communications scored the second highest increase of 253.1 percent to more than VND4.5 trillion ($199.72 million), followed by insurance and finance, energy, and agriculture. Besides arts and entertainment, tourism, construction, and mining posted declines in newly-registered capital.

The ministry also reported 20,044 businesses shut down, either permanently or temporarily, in the first quarter, up 23.9 percent.

It said 9,376 companies which were closed previously resumed their business, an increase of 84.1 percent from the same period last year.

Newer News
15/06	Property market sees many driving forces for growth
15/06	Hà Nội market accepts new level of apartment price
25/05	Hà Nội sees recovery in low-rise property prices but apartment prices fall
08/05	2024 Land Law to draw real estate investment, increase social housing supply
08/05	Real estate market in the South picking up
19/04	Ministry requests Hà Nội to inspect rising prices of apartments
17/04	Real estate market has positive performances in Q1: VARS
05/04	Developers must verify with foreign homeowner's database before sales
28/03	Management of real estate brokers to be tightened
23/03	HCM City real estate market to recover in H2

Older News
25/04	Number of high-end developments to grow
25/04	South Korea, Japan, Singapore scouting for real estate opportunities in Vieät Nam
20/04	Real estate M&As spiked in first quarter
15/04	Condotel attracts foreign investors
11/04	Vingroup scores hattrick at Asia Pacific Property Awards
08/04	HDBank offers exemptions for Mon City
06/04	Apartment prices up in Q1
04/04	M&As pave way for projects
04/04	US$1.3bn housing stimulus to be extended
04/04	Private developers lead way in Vietnam

Newsletter Signup

Top Stories

	Surge in newly opened securities accounts recorded in May
	VN adds over 110,000 new securities accounts in April, bringing total to 7.7 million
	Cautious rise amid low supply and cash flow, investors advised to monitor resistance area
	Interest rates to rise but not have major impact on stock market: economist
	Businesses concerned about rising exchange rate pressure