Japanese Prime Minister to Pay Official Visit to Vietnam
Japanese Prime Minister Shinzo Abe
and his wife will pay an official visit to Vietnam from January 16 to 17, at the invitation of Vietnamese Prime Minister Nguyen Xuan Phuc
Real Estate Market Growth Remains Positive: CBRE
An economy with relatively high growth, the high proportion of foreign direct investment (FDI) capital and remittances spurred growth for the Vietnamese real estate sector in 2016 and the trend is expected to continue in 2017, according to CBRE Vietnam
Despite a lack of breakthroughs, resources for the real estate sector remain strong and will prop up the market in 201, CBRE Vietnam General Director Marc Townsend was quoted by the Vietnam News Agency (VNA) as saying.
U.S. Firms Explore Investment Opportunity in Binh Duong
A delegation of U.S. firms led by Sivan Yam, President of the U.S. – Vietnam Chamber of Commerce has met with authorities of the southern province of Binh Duong to explore investing in the province, according to VNA.
Sivan Yam expressed his delight with the achievements the province has made in past years, particularly in infrastructure and administrative reform, and improving the business climate, saying that the province is an ideal investment destination.
Remittances to HCM City Reach $5 Billion in 2016
Remittances to Ho Chi Minh City reached $5 billion in 2016, accounting for 57%-58% of the national figure said Deputy Director of the State Bank of Vietnam’s Ho Chi Minh City branch Nguyen Hoang Minh on January 10.
The flow of remittances to the city in the year slowed down and fell short of expectations due to U.S. President-elect President Donald Trump’s expected domestic economic policies and the appreciation of the U.S. dollar.
U.S. Firms, HCM City Work on Smart City Plan
U.S. firms wish to collaborate with Ho Chi Minh City in developing a smart city, said U.S. Consul General in Ho Chi Minh City Mary Tarnowka at a meeting between business representatives and local authorities on January 10 in the city.
The businesses, which are experienced in building smart cities, want to provide modern technological solutions to help the locality solve basic issues for a smart city, said Mary Tarnowka.
M&A Deals in Vietnam Break 2015 Record of $5.2 Billion
The value of M&A deals in Vietnam in 2016 broke the record of $5.2 billion set in the previous year, with retail and real estate continuing to dominate the domestic market, according to the Vietnam M&A Forum research group.
Dang Xuan Minh, head of a research group of the annual Vietnam M&A Forum (MAF), said retail and consumer goods M&A targeted at entering and expanding the market was the most noteworthy trend in 2016.
Danish Enterprises Explore Vietnamese Market
A number of Danish retailers also want to enter the Vietnamese market thanks to its big-sized population and high economic growth, VNA reported, citing a networking program in HCM City on January 10 to boost partnerships between Vietnamese and Danish enterprises.
Danish firms evaluated Vietnam as a potential market for high-quality products such as organic foodstuffs and machinery used in aquatic product processing and production.
Vietnam’s Auto Sales Hit 20-Year High
The total number of automobiles sold in 2016 reached 304,427 units, the highest level recorded by Vietnam’s auto market in the past 20 years, the Vietnam Automobiles Manufacturers Association (VAMA) announced on January 11.
The figure is much higher than the previous records of 244,914 units in 2015 and 160,000 vehicles in 2009.
Overseas players net sold a total of 6.67 trillion dong ($295 million) worth of Vietnamese shares listed on Ho Chi Minh and Hanoi stock exchanges last year, marking the first year of net sale after maintaining a buying position during a decade, exchange data showed.
Of the amount, they net unloaded $342 million on the Ho Chi Minh Stock Exchange (HOSE) while buying in $47 million on the Hanoi Stock Exchange (HNX).
Nineteen freshly launched projects and 21 newly launched projects in Hanoi supplied 10,280 apartments in the fourth quarter of 2016, increasing a significant 81% quarter-on-quarter (q-o-q) and 28% year-on-year (y-o-y), Savills Vietnam has said in a report.
The upsurge in supply caused the total primary stock in the city to rise 27% q-o-q and 35% y-o-y to 21,670 units.
Mekong Enterprise Fund III (MEF III), the fourth fund of Vietnam-focused private equity firm Mekong Capital has poured an undisclosed amount into pawn shop chain F88, marking the third investment after its launch in May 2015.
Chris Freund, partner at Mekong Capital, declined to reveal the size of the investment. Typically, MEF III funds between $8 million and 15 million, and can make both minority and buy-out investments.
VietJet Air JSC, which is known for its bikini-clad flight attendants, has restarted plans to list its shares on an overseas capital market as it is proceeding to float its shares on the Ho Chi Minh City Stock Exchange late next month, international media reported.
The budget carrier may consider listing on either the Singapore, Hong Kong or Tokyo bourses, CEO Nguyen Thi Phuong Thao told Reuters, declining to give a timeline for the listing.
As many as 3.12 million motorcycles were sold in Vietnam in 2016, rising 9.5% from 2015, compared to a rise of 4% in 2015, according to the Vietnam Association of Motorcycle Manufacturers (VAMM), which comprises Honda Vietnam, Piaggio Vietnam, Suzuki Vietnam, Yamaha Motor Vietnam and SYM Vietnam.