Topic: capital

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.

The Ho Chi Minh City Department of Transport has proposed allocating capital to build 16 new intersections at a total cost of more than VND4.5 trillion ($191 million).

Though cash pouring into Vietnamese startups has remained positive over the past six months, some observers have forecast that capital flows may decline in the future. Vietnam is still considered a market of potential in the region, however. Forecasts have been made that investment in Vietnam’s startups this year will reach $2 billion.

The latest report from the Vietnam Bond Market Association (VBMA) shows that the banking and real estate sectors continue to heat up the bond issuance race, successfully issuing VND170.80 trillion ($7.48 billion) in total, or 72.7 per cent of the total. Vietnam’s corporate bond market was quieter in July, down nearly 33 per cent against June. In the long term, however, indicators suggest that the market still has much room for development.

To speed up the formulation of Capital Planning for the 2021-2030 period and vision to 2050, the Hanoi People’s Committee assigned the Hanoi Institute for Socio-Economic Development Research to assume prime responsibility and coordinate with relevant units to continue reviewing and researching key strategic, inclusive, and comprehensive contents.