In the first two months of 2017, foreign investors poured more than $345 million into real estate, a 12-fold increase over the same period last year.
On 23 February, the Foreign Investment Agency, Ministry of Planning and Investment statistics, in the first two months of 2017, foreign investors have poured $345.5 million into the real estate sector of Vietnam, accounting for 10 , 1% of total FDI and up nearly 12 times compared with $29.07 million in the same period of 2016.
In the first two months, the Foreign Investment Agency has granted 11 new real estate projects with registered capital of $308.95 million. There are two projects to increase capital and 14 capital contributions to buy shares with a total value of nearly $59 million.
Construction activity also attracted $50 million, up nearly 60% over the same period of 2016. Of these, 20 were newly licensed with a total capital of $17.55 million. Six projects raised $7.1 million. Foreign-invested enterprises also contributed 36 shares of capital with the total value of $25.38 million.
Some large licensed projects such as Vietnam Singapore III Industrial Park with total investment capital of $284.75 million invested by Singapore in Binh Duong.
Lan Son Industrial Park Infrastructure Investment Project and Khai Hong Viet Plastic Factory with total investment capital of $150 million invested by China Wenzhou Hendy Mechanism and Plastics Co., Ltd in Bac Giang.
According to the Foreign Investment Department, in the first two months of 2017, total FDI registered new, increased and contributed capital to buy shares is $3.4 billion. This figure is up 21.5% over the same period in 2016.
Specifically, as of February 20, the country has 22,904 valid projects with a total registered capital of $297 billion. The accumulated capital of foreign investment projects reached $156.35 billion.
At present, 116 countries and territories have invested in Vietnam. Topped by South Korea with a total registered capital of $ 50.98 billion. Japan ranked second with $42.49 billion, followed by Singapore, Taiwan, British Virgin Islands, Hong Kong…
Le Hoang Chau, Chairman of HCMC Real Estate Association, said that the foreign investors poured capital into the real estate sector of Vietnam by seeing the prospects of the market. Moreover, Vietnam is also a very safe and lucrative investment destination.
In addition, Circular 06 issued by the State Bank will credit in the field of real estate. Therefore, Vietnamese businesses are required to cooperate with foreign investment funds to find cheaper and more profitable capital to make the project.
“This is a good sign for the property market. Enterprises, foreign investors and homebuyers will benefit, “Chau said.
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