Weekly Vietnam Economy News (13 – 20/11, 2020)
Economy News: Regional Comprehensive Partnership Agreement (RCPA) was officially signed
On the morning of November 15, after the end of the online Summit of countries participating in the negotiation of the Regional Comprehensive Partnership Agreement, Prime Minister Nguyen Xuan Phuc and ASEAN leaders and partner countries witnessed the Signed this important Agreement.
The new cooperation framework of the RCEP Agreement will contribute to accelerating the process of building the ASEAN Economic Community 2025. From there, ASEAN will become a dynamic, powerful, and cooperative partner for mutual prosperity.
Economy News: Expectations to kick-start a wave of high-quality foreign investment
It is forecasted that the global foreign investment capital volume will decrease by 40% this year while the number of international enterprises and investors coming to Vietnam has increased over the months from the beginning of the year up to now.
In the first 10 months of 2020, although it was quite heavily affected by the COVID-19 epidemic, Vietnam still attracted 23.48 billion USD of foreign investment capital, equaling 80.6% over the same period in 2019.
Experts say that this is a very remarkable result in the context that most countries fall into a sharp decline in investment attraction results.
International financial and economic organizations expect a wave of high-quality investment in Vietnam will be started; stemming from two sides, including seeking opportunities for investors as well as continuing to promote the prestige and attractiveness of Vietnam in the eyes of international investors.
Economy News: FDI inflows into real estate soared in Q3
Despite the impact of the COVID-19 epidemic, the real estate market recorded a positive response in the third quarter of the year, reflected in the sharp increase of total FDI in this sector by 400% compared to the second quarter, according to the Ministry of Construction.
Specifically, FDI inflows into real estate increased from $ 0.264 billion in Q1 to $ 0.536 billion in Q2 and $ 2.35 billion in Q3.
Real estate experts said this is a good signal for the addition of an important source of capital for development investment in the real estate sector in particular and significantly contributing to investment in socio-economic development. associations of Vietnam in general.
Actual real estate market developments show that, after two rounds of COVID-19, most real estate businesses have gradually restarted operations.
Real estate developers have begun selling projects and announcing business plans after the pandemic, as well as recruiting workers and finding the right staff for long-term plans.
Although the market still faces many difficulties, real estate businesses and developers have taken solutions to approach customers, change development locations to catch up with the trend of FDI shifting and urbanization. localities outside the big city.
In addition, with special incentives from nature, an increasingly complete transport system, open investment policy, creating favorable conditions for domestic and foreign investors, Vietnam currently has own advantages to attract domestic and foreign real estate investors compared to other countries in the region. compared to other countries in the region in terms of attracting investment capital for the tourism sector and the segment of real estate investment in resort tourism.
The Ministry of Construction said that although it was double affected by the COVID-19 outbreak in July and the low season in the seventh month of the lunar calendar was considered an “unlucky” period, the increase in FDI On this field is a positive signal.
According to the ministry, most businesses in the real estate sector have been back to operation after two rounds of COVID-19.
They have taken measures to approach customers and even target new areas to anticipate the movement of FDI inflows and urbanization trends outside major cities.
Economy News: Foreign investors increasingly flock to the Vietnamese education sector
Foreign Investment Department of the Ministry of Planning and Investment said that as of September 20, FDI in this sector has increased by nearly 58% to 78.9 million USD.
Schools offering all levels of education from kindergarten to university attract the most FDI with about 5.28 million USD, equivalent to nearly 35% of the total new FDI in this field.
Compiled from many sources by LOOKOFFICE
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