Topic: demand

Conference introducing thousands of specialties from 45 localities.

July 11 roundtable to discuss how Vietnam’s economic growth is slowing.

The Binh Son Refining and Petrochemical Joint Stock Company (BSR), which is responsible for receiving, managing, and operating the Dung Quat Oil Refinery Plan, has said that the refinery’s capacity has increased to 109 per cent to meet shortages in the petroleum market.

The Vietnam Steel Association (VSA) has reported that steel production and consumption in the first nine months of this year continued to decline, by 5.8 per cent and 1.6 per cent, respectively, over the same period of 2021. The steel sector is forecast to recover in the fourth quarter of this year, which is when steel demand usually increases as construction projects pick up the pace.

Evaluating the draft national airport planning, analysts believe there have been miscalculations on passenger forecasts in localities. The evaluation criteria and scoring scale both lack basis, leading to airport rankings exhibiting shortcomings.

According to Batdongsan.com.vn, demand to buy all types of real estate fell sharply in September, with the number of searches for land plots nationwide down by 50 per cent compared to March, apartments by 9 per cent, private houses by 25 per cent, and villas by 12 per cent. The market will continue to face many challenges. Prices are forecast to remain unchanged, while developers will boost sales policies to support and attract buyers.

DKRA’s August 2022 Real Estate Market Report shows that products, including apartments, townhouses, villas, and land plots, in Ho Chi Minh City and neighboring provinces have sharply declined both in supply and demand. With the possibility of limits on loans to buy real estate being eased, the market may recover by the end of the year but any change is unlikely in the short term.

After 15 consecutive price cuts, the construction steel price rose VND50-810 ($0.002-0.034) per kilo from August 31. The Tuyen Quang Iron and Steel Company (TQIS) posted the highest increase. According to Rong Viet Securities (VDSC), demand for construction steel will recover further and steel prices will increase in the future.

In assessing the potential of Vietnam’s aviation industry in the second half of 2022, analysts believe its profit growth will be higher than in the first half, based on three main factors: domestic travel is tending towards strong recovery, international visitors are expected to gradually increase in number by the end of the year, and rising demand will help airlines manage fuel costs.

According to real estate website Batdongsan.com.vn, while demand for real estate has shown signs of a sharp decline in recent times, sales prices of all types have increased. This apparent contradiction is harmful to society and the economy over the long term, it said. Project development costs have escalated due to rising prices of materials along with higher costs incurred from lengthy procedures, forcing many investors to recalculate opening prices. This results in a shortage of affordable products in the market.