Real estate lures most investment in first quarter (Source: VNA) HCM City (VNA) – Real estate lured investment of 79.2 trillion VND (3.48 billion USD) in the first quarter this year, accounting for 28.4 percent of total registered capital in the period, the highest of all sectors, the Ministry of Planning and Investment reported. The sector recorded 1,226 firms new firms, a year-on-year increase of 32 percent. According to the State Bank of Vietnam, by 2017, the total outstanding loans in real estate exceeded 471 trillion VND (20.72 billion USD), mostly for projects in urban zone construction and housing development, house repairing and business activities. The credit package for real estate-related business activities and construction projects climbed 12.2 percent in 2017, up 12.2 percent year on year, 15.8 percent of the year’s total credit. The real estate market saw positive changes in all segments in 2017. In Hanoi and HCM City alone, there were 64,263 successful … [Read more...] about Real estate lures most investment in first quarter
First quarter
Banks expected to record high profits in first quarter
The profits of many domestic banks in the first quarter of this year are estimated to rise higher than that of the same period last year thanks to significant credit growth. Illustrative image - Source: VNA After the first two months, Tien Phong Commercial Joint Stock Bank’s (TPBank) profits after provision for risky loans nearly doubled year-on-year to 275.8 billion VND (US$12.14 million). The bank posted outstanding loans at 76.78 trillion VND (US$3.38 billion) and a mobilised capital of nearly 106.2 trillion VND (US$4.67 billion). Its non-performing loan ratio accounted for 0.97 percent of its total outstanding loans. Theo VNA … [Read more...] about Banks expected to record high profits in first quarter
Vietnam’s traffic accident cases down in first quarter
Illustrative image (Source: VNA) Hanoi (VNA) – Vietnam recorded 4,674 traffic accidents that killed 2,149 people and injured 3,627 others in the first quarter this year, reported the National Traffic Safety Committee during a teleconference in Hanoi at the end of March. Compared to the same period last year, traffic accident numbers fell by 2.89 percent but fatalities rose 1.66 percent. Among 27 localities posting more fatalities, 14 saw a rise of more than 40 percent while Ca Mau, Tay Ninh and Cao Bang provinces registered 150 percent or more extra deaths. Chairing the event, Deputy Prime Minister Truong Hoa Binh, also Chairman of the National Traffic Safety Committee, said traffic rule violations are rising, especially on highways and rural areas, and management in the field remains poor. Vice Chairman of the Hanoi municipal People’s Committee Nguyen Quoc Hung said the city’s Transport Department will consider a plan to adjust inter-provincial … [Read more...] about Vietnam’s traffic accident cases down in first quarter
Aquatic export up 11.5 pct in first quarter
Illustrative image (Source: VNA) Hanoi (VNA) – The export of aquatic products in March was estimated at 608 million USD, bringing the total shipment in the first three months to 1.7 billion USD, up 11.5 percent annually, according to the Ministry of Agriculture and Rural Development. Major importers in the first two months this year were the US, Japan, China and the Republic of Korea, accounting for 50.5 percent of the total. Notably, markets seeing strong export growths included the Netherlands (49.7 percent), Thailand (35.3 percent) and China (34.9 percent). During March, aquatic products import reached 151 million USD, bringing the total value in three months to 423 million USD, marking a 32.4 percent year-on-year increase. In the first quarter, the total aquatic production rose by 4 percent to 775,800 tonnes, 740,800 tonnes of which was tapped at sea and the remaining was home-grown. The total tuna output was estimated at 6,406 tonnes in the three-month … [Read more...] about Aquatic export up 11.5 pct in first quarter
Vietnam’s first quarter credit growth at 2.23 percent: GSO
Commercial bank deposits also went up by 2.20 percent; however it is 2.43 percent lower compared to the same period last year. Vietnam’s credit growth was 2.23 percent in first quarter while it was 2.81 percent in last year’s first quarter. GSO’s report said that deposit interest rates were also stable, at 6.5 - 7.3 per cent for deposits in Vietnamese đong over a 12-month term. Lending interest rates for prioritized sectors stood at 6 - 6.5 per cent over 12-month term while it was 6.7 - 9 percent in short -term loans and 9.3 - 11 percent in long-term loans for other sectors. For businesses with transparency in finance report, lending interest rate was 4 - 5 percent over 12 months as short-term loans. The office of State bank of Vietnam in the HCMC said that credit growth of institutions in the city in the year’s first quarter was estimated 3 percent higher than the growth in the end of 2017 and much higher than the country’s general growth. The … [Read more...] about Vietnam’s first quarter credit growth at 2.23 percent: GSO