Business News in Vietnam on April 17, 2024

The real estate market in Vietnam is experiencing positive developments, with a surge in projects and investments in the first quarter of 2024. The Vietnam Association of Realtors (VARS) recently held a conference to announce these exciting updates. Tran Van Binh, Vice Chairman and General Secretary of VARS, highlighted the vitality of the Vietnamese economy and the government’s efforts to promote the real estate market.

Customers and investors are showing increased interest in real estate, with up to 70% willing to make purchases in 2024. Land plots and low-rise properties are particularly popular segments. In the first quarter of 2024, over 20,000 products were supplied, including new billion-dollar projects.

Affordable housing units are also on the rise, with a 70% growth rate compared to the previous quarter. The absorption rate of projects has improved, reaching nearly 31%. The primary selling prices remain stable, with a slight increase compared to the previous quarter.

In other news, the garment and textile sector in Vietnam is facing challenges such as falling demand and high inventory. Despite these obstacles, enterprises are striving to bolster production and business activities. The sector is implementing various measures to navigate through these difficulties.

Additionally, banks in Vietnam have reported positive business indicators in the first quarter of 2024, especially in terms of credit growth. Several banks have seen significant increases in pre-tax profits and total operating income, indicating a healthy financial sector.

Overall, the Vietnamese economy is showing resilience and growth potential, with various sectors making strides towards recovery and expansion. The future looks promising for the real estate market, garment and textile sector, banking industry, and other key sectors in Vietnam.