Many experts believe that the real estate market has many opportunities for growth, but before that happens there is an urgent need to untie many knots that are proving to be obstacles in its path to further development.
The reopening of China after it clamped its doors with the drastic zero Covid policy is encouraging for investors in Vietnam, as China is its largest trading partner.
The real estate market had to face many difficulties in 2022 and is still expected to face many challenges in the coming year. In order to circumvent adverse developments in the real estate market, the Government and ministries have taken a firm decision to support all real estate enterprises in 2023.
Although the last months of the year had seen a substantial drop in export orders, the textile and garment industry, as well as the seafood industry, still ended the year with positive results.
On the occasion of the 30th anniversary of Vietnam and South Korea diplomatic relations, representatives of the two countries met to reiterate their relationship for a stronger comprehensive strategic partnership.
Most businesses that are in need of capital in the current economic scenario expect a regulatory adjustment, as most of them are facing extreme difficulties in running their entire operations.
There is much public attention in Vietnam after the Binh Thanh Import-Export Production Trading Joint Stock Company (Gilimex) sued the Amazon company in the New York State Court in the US for USD 280 million for loss of revenue.
Vietnam is among the four markets with potential growth in branded residences segment, according to a global Savills report .
At the end of the financial year the market is often bullish. This occurs on the belief that mutual funds will beautify year-end reports by pulling up stock prices for the sake of shareholders. However, this year it looks like things are about to change.
Real estate enterprises are facing many difficulties, from tightening of credit policy, pressure of bonds maturity, and selling off mortgages of stocks. However, this could also be the right opportunity to buy real estate stocks when the price drops to bottom.
The current ongoing economic fluctuation occurring worldwide is clearly affecting many export businesses in Vietnam in the last months of 2022 and is forecast to continue to affect throughout 2023.
Businesses have for long faced a crunch of capital and difficulty in accessing credit from banks.
The move made by some commercial banks to reduce the lending interest rate, and the decision of the State Bank of Vietnam to increase credit by 1.5% to 2% has had a positive impact on manufacturing and export enterprises.
The People's Committee of Ho Chi Minh City has recently proposed a tax on a second property of an individual, which is being received with mixed emotions. This suggestion has been made in an effort to increase revenue for the State and control speculation and abandonment of real estate projects.
Vietnam could face many new challenges in 2023, although experts believe that despite adverse effects from the outside, the Vietnamese economy has remained rather resilient so far.
International capital has flowed into many Vietnamese banks in 2022, which is a good sign indicating the capacity of domestic joint stock commercial banks.