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This comes after a challenging year for the real estate and construction industries which have been struggling following on from a number of high-profile arrests in the industry for fraud back in 2022. Though there has been some speculation that the industry is on the path to recovery, these numbers suggest there may be a way to go yet…
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Year-to-date, the construction sector has secured 40 new projects with a cumulative registered capital of US$586.7 million, indicating steady interest in Vietnam’s construction industry. For the year-to-date, the average investment per project stands at around US$14.7 million…
Vietnam’s construction industry has seen substantial growth in recent years, driven by robust economic development and significant government investment in infrastructure projects. The sector is highly competitive, featuring both domestic and international players. These companies are actively involved in various large-scale projects across the country, including residential, commercial, and industrial developments.
Of note, Vietnam’s real estate industry has been struggling for the last two years in the wake of the Evergrande crisis in China in 2022. This led Vietnam to take a long hard look at its own real estate industry in which it found the prevalent misuse of investor funds, particularly those acquired through the bond market, and that a number of real estate firms were grossly over-leveraged.
A closer look, however, reveals that most of this profit stemmed from financial activities, not core construction operations. Specifically, the firm booked nearly VND 503 billion or US$19.86 from the liquidation and sale of fixed assets. Additionally, financial revenue doubled year-over-year to US$1.82 million due to the sale of several of its subsidiaries and affiliated companies. Of note, back in June, Hoa Binh announced that it would divest entirely from loss-making affiliated companies…
Coteccons has performed relatively well over the last year or so, despite industry challenges due to a border slowdown in the real estate market. Notably, it has won several key industrial construction contracts for foreign businesses like LEGO, Foxconn, and Pandora. Furthermore, Coteccons is reportedly heading up construction of factory projects in India and Indonesia for electric car maker VinFast…
This is part of a restructuring of Hoa Binh’s portfolio to address accumulated losses incurred over the past two years. As of March 31, the firm had racked up VND 3,182 billion or US$125 million in losses. This was at least in part due to a slowdown in construction work on the back of challenges in the real estate sector more broadly…
Vietnam currently applies foreign ownership limits to almost all stocks on the Ho Chi Minh City Stock Exchange. Of note, as of March 11, of 401 stocks listed on the HoSE, 371 stocks had foreign ownership limits. For 366 of those stocks, foreign ownership was capped at 50 percent or less. This can be a deterrent for foreign investors and limiting with respect to raising capital for local firms. It can also be logistically challenging when foreign ownership gets close to said caps. In fact, these limits are one factor holding the local exchange back from an upgrade from a frontier market to an emerging market…
Needless to say, local producers have cried foul and argue that Chinese steel is being dumped on the Vietnam market. They have reportedly requested that the Ministry of Industry and Trade initiate an anti-dumping investigation…
A number of construction materials firms reported losses last year and are now asking for government support, specifically more large scale infrastructure projects, Doanh Nhan Vietnam is reporting. This is not a good sign for the real estate industry in that construction firms, presumably in the know, are not banking
An Allied Market Research report has found that Vietnam’s private security market is set to record a compounded annual growth rate of 7.9 percent a year between 2020 and 2027 at which point it will be worth US$1.29 billion. The security sector in Vietnam employs a huge number of people.
A draft decree for the implementation of parts of the Law on Telecommunications 2023, issued by Vietnam’s Ministry of Communications, if passed, would see satellite internet providers required to partner with domestically licensed telecommunications providers, VN Express is reporting. The draft then foresees ground stations through which internet access delivered
Vietnam’s Ministry of Construction (Moc) is proposing reduced taxes and interest rates for firms dealing in construction materials on the back of the worst year for the industry in ten years, Vietnam News is reporting. This is on the back of a slump in sales and rising input costs. Key
Vietnam’s FPT has invested in a US$100 million vehicle service centre in Texas, Nikkei Asia is reporting. Dubbed FPT Automotive, the firm intends to supply auto-software the likes of Honda, Ford, and homegrown Vinfast.
A total of 15,900 cases of financial fraud have been reported this year with 91 percent related to data breaches at banks in Vietnam, VN Express is reporting. Why it matters: The recently passed Personal Data Protection Decree requires foreign firms to store the data of Vietnamese users in Vietnam.
Vietnam’s Ministry of Information and Communication has announced it will auction several radio frequencies, specifically the band from 2,500 to 2,600MHz, with the goal of boosting the country’s 5G rollout, Vietnam Investment Review is reporting. The starting price for the auction is US$167.93 million for a 15 year contract. These
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