Friday, March 5, 2021 7:48:38 PM - Markets closed
VN-INDEX 1,168.69 +0.17/+0.01%
HNX-INDEX 259.80 +4.03/+1.58%
UPCOM-INDEX 78.56 +0.60/+0.77%
HCM City: 46.8 percent of FDI goes to property sector - 5/14/2019 11:23:01 AM
 (0 ratings. You must sign in to rate.)
Real estate was the most attractive sector for foreign direct investment (FDI) in Ho Chi Minh City in the first four months of the year with 164.58 million USD, or 46.8 percent of total FDI.
According to the municipal Department of Planning and Investment, the British Virgin Islands was the largest investor by pouring 71.59 million USD into the sector, accounting for 43.5 percent of realty investment. The Republic of Korea came second with 19.5 percent, followed by Japan (10 percent), Singapore (5.7 percent) and China’s Hong Kong (3.4 percent).
In the four-month period, foreign businesses bought shares and contributed capital to state-owned enterprises, with total capital mounting to 1.83 billion USD, up 30.6 percent year on year. The realty sector was the largest recipient at 24 percent of the total.
Experts said foreign cash flow to the sector will increase in the near future, especially after Chairman of the municipal People’s Committee Nguyen Thanh Phong said at the recent investment promotion forum that the city is seeking foreign investment in 29 urban development projects, including several condominium projects.
Chairman of the HCM City Real Estate Association Le Hoang Chau said foreign investment in infrastructure and urban area development improves the local transport system and speeds up urbanisation rate.
However, local authorities should work to put forth investment procedures and shorten time for land clearance so the projects can be carried out soon. 
Meanwhile, Director of the municipal Department of Planning and Investment Le Thi Huynh Mai said administrative reform is a key to facilitate investments of foreigners.-VNA
Read original article here
Newer News
08/02 HCM City in top six most preferred markets for investment: CBRE
27/08 Localities must select ODA projects practically: minister
18/06 COVID-19 could shake up realty rent market
10/06 Property firms return to market after COVID-19
28/03 Association calls for tax incentives for social housing developers to be consistent
01/03 Residential suburban projects prove alluring to buyers
23/02 Ownership certificates for condotels could solve market issues: experts
09/02 Hải Phòng eyes new industrial zones this year
01/02 Local property market to recover this year
28/01 Vietjet launches Hà Nội- Bali route
Older News
13/05 Vietnam’s real estate market likely to stay stagnant this year
03/05 Real estate at the heart of economy
27/04 HoREA offers proposals to help real estate firms access long-term bank loans
26/04 The Zei – one of Hanoi's most wanted projects launched
19/04 Domestic property market stable in Q1
18/04 VN property market unlikely to see big dip, says Savills global chief
12/04 Savills Group CEO: HCM City – a promising market in real estate
10/04 Vietnamese real estate market attracts Japanese firms
08/04 Tourism property sector has great potential for growth: forum
19/03 More than 800 new realty firms set up in two months
Newsletter Signup
Top Stories
Number of new securities trading accounts reaches record high
Trade surplus posts record high since 2016
Reference exchange rate up 1 VND on June 5
Reference exchange rate up 6 VND on December 10
Reference exchange rate continue going down
Market Update
Last updated at 3:10:15 PM
VN-INDEX 1,168.69 +0.17/+0.01%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.