Topic: capital

Deputy Prime Minister Le Van Thanh has signed Decision No. 1119/QD-TTg approving the investment policy on construction and infrastructure business at the Dong Soc Industrial Park in northern Vinh Phuc province, with the Vinh Phuc Trading Investment Company being the project investor. The project sits on 206,560 ha straddling Van Xuan commune, Vu Di commune, and Tu Trung town in Vinh Tuong district. Total investment is VND2.238 trillion ($94.85 million), including VND335.718 billion ($14.21 million) contributed by the investor and VND1.902 trillion ($80.64 million) mobilized from other sources.

Northern Bac Giang province will focus on removing obstacles and improving the operational efficiency of local State-owned enterprises (SOEs) until the end of the year. In the first eight months, the province had 991 newly-established enterprises, up 14.3 per cent year-on-year, with registered capital of VND22.998 trillion ($970.46 million), up 30.4 per cent.

The recovery of the tourism sector is driving greater expectations surrounding resort real estate. However, according to a DKRA report, resort real estate will be influenced by the gloomy nature of the country’s real estate market as capital becomes more limited than previously.

Tourism is recovering, making resort real estate expectations more vibrant. However, according to DKRA's report, resort real estate (tourism) also follows the gloomy "wave" of the real estate market when the capital for this field is more limited than before.

The Mekong Delta’s Tien Giang province has announced a list of projects calling for investment, including 59 projects with total capital of more than VND22 trillion ($929.85 million) in the fields of urban development, residential areas, trade and services, tourism, industry, agriculture, health, education, and sport.

Deputy Prime Minister Le Minh Khai has signed Decision No. 1012/QD-TTg from the Prime Minister supplementing, adjusting, and assigning the medium-term public investment plan with State budget capital for the 2021-2025 period to ministries and central and local authorities in the third phase. The government has decided to cut more than VND31 trillion ($1.31 billion) in medium-term public investment capital in the 2021-2025 period from the Ministry of Transport, which will be transferred to seven cities and provinces.

Billion-dollar projects on thousands of hectares have contributed to creating a new look for south-central Binh Thuan province and it becoming a leading tourist and entertainment destination. As of July, the province had 382 tourism projects, of which 188 had been put into operation on 6,300 ha with total capital of VND70 trillion ($2.9 billion).

The Business Registration Administration at the Ministry of Planning and Investment has said that business registrations continue to reach new milestones. In August, there were 11,918 newly-registered enterprises with total capital of VND130.198 trillion ($5.5 billion), an increase of 106.9 per cent in number and 91.6 per cent in capital year-on-year.

Capital needs are increasing in many economic sectors in Vietnam but businesses continue to have difficulties with access as banks have restricted credit. Needs in the real estate sector are the highest, and 80-85 per cent of capital in real estate businesses come from loans.

Analysts believe that although Vietnam remains an attractive destination for foreign investment, turbulence in the global economy could still have a major impact on inflows.