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Jones Lang LaSalle Incorporated give Six comments on Vietnam's economy in 2018

In one of the report of Jones Lang Lasalle - an American Financial Advisory Group said that: "Vietnam is a new industrial powerhouse in Southeast Asia" , confirmed that after 20 years,Vietnam from a purely agricultural country has rapidly risen to become one of the most impressive production sites in Southeast Asia. The following is Vietnam economic assessment in 2018 by JLL

1. The economy witnessed a strong growth:

As of firsthalf 2018, Vietnam’s GDP achieved the growth of 7.08%, the highest level of six-month growth since 2011, of which 7.45% for first quarter and 6.79% in the second quarter of 2018, the industrial and construction sector scored significant growth of 9.07%,  followed by the service sector and the agriculture, forestry and fisheries sectors with a sharp increase of 6.9% and 3% 93%, however, this rate is expected to decrease slightly in the second half of 2018.

2. Retail turnover and international arrivals uprising:

Total retail sales of consumer goods and services in the second quarter of 2018 reached a peak of 10.7% over the same period last year, according to the Vietnam National Administration of Tourism, the number of International visitors in the first quarter of 2018 reached a total of more than 7.89 million visitors, up 27.2% over the same period in which Chinese and Korean tourists remain the largest sources with a total of more than 3.2 million passengers.

3. Vietnam’s FDI continues to hit a new record: by June 2018:

The total FDI pledged to the country was nearly USD 20.33 billion, increased 5.7% over the same period in 2017. Of which, there were 1,366 newly registered projects worth USD 11.8 billion, equal to 99.7% y-o-y. The FDI disbursement recorded USD 8.37 billion, an increase of 8.4% y-o-y. The real estate and retail sector followed up in second and third place with USD 5.54 billion and USD 1.5 billion, respectively. Japan investors took the lead to pour in USD 6.47 billion and achieved 31.8% of the FDI, Korea came next with USD 5.06 billion and Singapore with USD 2.39 billion. The notable projects comprise the Smart City with total investments of USD 4,138 billion in Hanoi by Japanese investor, the polypropylene manufacture plant project invested by Hyosung Corporation (Korea) with total capital of USD 1,201 billion in BR-VT, the additional investment of USD 1.12 billion in Laguna (Vietnam) Co., Ltd. By Singapore investor in Thua Thien Hue.

4. CPI strongly increased:

The average increase was 3.29% in the first half of 2018 over the same period last year, mainly due to increases in medical costs as well as tuition fees, increased electricity and gas costs and regional minimum wage increases. The index of housing and construction materials increased by 9.09% on average due to higher prices of cement and steel.

5. USD 2.57 billion trade surplus maintaining in Vietnam:

According to statistics of the General Department of Vietnam Customs, trade surplus reached over $ 2.57 billion in the first half of 2018, estimated export turnover in the first half of 2018 reached $ 113.93 billion, while prices Import value was recorded at $ 112.2 billion, up 10% over the same period in 2017. The United States and the EU were the two largest export markets with $ 21.5 billion, up 9.2% and China and South Korea are the main import markets with a total import value of $ 31.1 billion and $ 22.5 billion

6. Number of newly registered enterprises to surge:

Approximately 64,531 newly established companies, up 5.3% in number of companies and 8.9% in registered capital over the same period in 2017.

Source: JLL Click here for more infomation

(Thanh Nam Construction Consultant JSC, proud to be one of the leading companies in Vietnam in the field of consultancy and design, planning, investment projects of civil, industrial, urban areas, industrial parks and high-rise building)

 

(Nguồn tin: JLL)