The 10 biggest FDI projects in 2009

According to Thoi Bao Kinh Te Vietnam, the 10 biggest FDI investment projects in terms of registered capital in 2009 include six real estate projects, two projects in accommodation services, one processing industry project and one mining project.

The top 10 FDI projects are capitalized at $12.7 billion, of which real estate projects alone make up $6.48 billion. Most were just granted licenses in the fourth quarter of 2009.

Vietnam attracts US$21.48 billion in FDI in 2009

US$21.48 billion in foreign direct investment (FDI) has flown into Vietnam this year despite the global economic crisis and stiff competition from other regional countries.

Of the total, US$16.34 billion is registered by 839 newly-licensed projects and the rest from additional capital poured into 215 ongoing projects, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).

The agency said that accommodation and restaurant services continued to catch the eye of foreign investors this year, drawing in US$8.8 billion.

Real estate came second with an estimated US$7.6 billion, followed by manufacturing and processing with US$2.97 billion.

In 2009, the country’s disbursed capital is estimated to have reached US$10 billion, about 1.5 billion lower than in 2008 when FDI hit a record high of US$64 billion, according to the agency.

Respect Vietnam vets

President Obama's speech at West Point (Dec. 2) was right on mark and I believe we will rid the area of terrorist criminals in and around Afghanistan. Taking the fight to these thugs on their home turf is a good plan.We will root these cowards out and wipe them out. They won't be bombing anyone else ever again.

The part of the speech where our president compares this new deployment of our combat troops with the Vietnam War is where I have a disagreement. He said he disagrees when hearing "Afghanistan is another Vietnam." The president then gave three reasons why the two conflicts differ. I realize the president respects Vietnam Vets, but there are plenty of people who say and think that the "Nam" War was a disaster. This is a put down of the American combat troops who fought and died in the Nam.

As a Vietnam Era Vet I resent these ridiculous comments. Most of us were drafted and had no choice about assignments, but we wouldn't have it any other way and think we kicked the VC in their butts!

Since these Vietnam Era critics and doubters like this war better then the Nam why don't they sign up for this one. Maybe they'll learn that war is war no matter where it's fought and that serving your country honorably like we Nam Era Vets did is what counts.

Seeking capital for real estate projects

VietNamNet Bridge – Experts have been called on to set up a legal framework to call for capital for real estate projects, or Vietnam will never be able to meet the demand for accommodation.

A real estate conference which gathered late last week heard that in 2008 loans provided to fund real estate projects were 132,545 billion dong, or 9.15 percent of the total of outstanding loans in the year. The figure had increased by 10 percent by June 30, 2009.

However, bank loans are not the only channel which brings capital to the real estate market

Stocks, gold, real estate or dollars – what’s best for Vietnam’s investors?

Stocks, gold, real estate or dollars – what’s best for Vietnam’s investors?

All investments are risky

The gyrations of the world gold market recently have helped many Vietnamese earn a fortune, but at least as many others have been cleaned out. Amateur investors are conspicuous in the latter group, having plunged in without good market information and all too often placing their bets with the help of dreams and horoscopes.

Vietnam Real Estate Growth Limited By Regulatory Environment

The key factors limiting Vietnam's real estate market are: a lack of transparency, access to funding and the legal framework. Heeding the lessons learned by Vietnam's counterparts in the Asian property sector should advance the position of this emerging market. See the following article from Property Wire for more on this.

Improved legal and financial frameworks are needed if Vietnam’s emerging property market is to grow into a sustained real estate environment, it is claimed.

The country’s real estate sector will continue to grow and attract investors in 2010 but potential problems such as rapid urbanization, environmental pollution and supplying sufficient low cost housing needs to be addressed, a two day conference heard.

The southern economic hub’s Saigon South area continues to be a promising place for property developers to prosper

Saigon South, which covers District 7 and Nha Be and Binh Chanh districts, has recently seen Khang Thong Joint Stock Company break ground for construction of a $30 million commercial and residential complex at Huynh Tan Phat street.

The complex, scheduled to open in three years, will be located on 3,395 square metres. The 19-storey building, designed by Korean firm Gansam Partners, will have a two-storey basement, five retail floors, entertainment and offices for lease, 204 apartments and 12 penthouses.

Only the State is a loser in Vietnam’s real estate boom

TDQ had a house in Tan Quy ward (HCM City District 7) that he purchased for 1.5 billion dong, about $75,000. Recently, he bought another house for five billion dong in the same ward. With real estate prices high, Q resolved to sell the first house, but of course he did not want to pay income tax on his gain.

Only people who own two houses or more are liable to pay the tax. Q solved his problem by arranging the paperwork necessary to convey the first house to his son. Once it was in his son’s name, Q sold the house for 2.5 billion dong without having to share one dong with the tax office.