MARKET SNAPSHOTS WEEK 44/2022
Hanoi adds 2 resettlement projects serving Ring Road 4
Recently, the Hanoi People's Committee has approved adjustment of the land use plan in 2022 in Dan Phuong district, adding 7 residential projects with a total land area of 12.9 hectares. Among these projects, 2 are resettlement projects in support of the Ring Road No.4 project in Hanoi Capital Region, including resettlement of Ha Mo commune (0.53ha) and Lo Ngoi resettlement area of Hong Ha commune (3.76 ha).
Expressway connecting Quang Ninh with 3 international airports and border gates
Van Don - Mong Cai expressway, spanning 80 km and designed for a speed of 120 km/h, has gone into operation. This is the last section of the Quang Ninh inter-provincial expressway, connecting it with 3 international airports (Noi Bai - Cat Bi - Van Don) and the 3 most important international border gates in Northern Vietnam (Lao Cai, Huu Nghi and Mong Cai).
HCMC industrial clusters expected to more than double investment per hectare
HCMC's industrial parks and export processing zones are expected to see investment per hectare increase by 2,4 times by 2025. Besides, the HCMC Export Processing and Industrial Zones Authority (HEPZA) is encouraging IPs and EPZs to focus more on technology, increase added value and become more environment-friendly by 2030.
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Thai Nguyen: Auction of land use rights with a starting point of nearly 100 billion VND for Nui Coc Lake project
The land area for project implementation in Phuc Xuan commune, Thai Nguyen city has a starting price of VND 98,968 billion, with the purpose of being used to construct tourist villas, commercial and service, infrastructure and trees. Accordingly, the total land area for auction is nearly 19 hectares (the collection area is more than 18 hectares), excluding the water surface area. The auction time is expected to be on November 5th at the Property Auction Service Center of Thai Nguyen Province.
The State Bank of Vietnam adjusts operating interest rates
In an effort to control inflation, stabilise the macro-economy, and ensure safety of the banking system, State Bank of Vietnam (SBV) has hiked rates by 100 bps: the refinancing interest rate from 5 per cent per year to 6 per cent per annum, the discount rate from 3.5 per cent to 4.5 per cent, and the interest rates on overnight loans from 6 per cent to 7 per cent per year.
USD/VND exchange rate and interbank interest rate plunges
Compared to the peak in early October, VND's interbank overnight interest rate has decreased 3%, while the USD/VND exchange rate has sunk below VND 24,870. This is mainly due to maturity of the State Bank's bills, along with net injection of more than VND 60,500 billion into the open market. End of the Oct. 27 session, the balance on the bond channel decreased to VND 71,288 billion while the circulating volume (pumped out) is still about VND 83,630 billion.