MARKET SNAPSHOTS WEEK 6/2024

IIP Vietnam increased by 18.3% in January 2024

-Congthuong-

The index of industrial production (IIP) in January 2024 decrease by 4.4% MoM and increase by 18.3% YoY. Of which, the processing and manufacturing industry increased by 19.3% YoY; electricity production and distribution increased by 21.6%; water supply, waste and wastewater management and treatment activities increased by 5.7%; the mining industry increased by 7.3%. Notably, the industrial production index in January 2024 compared to the same period last year increased in 60 localities and decreased in 3 localities across the country (Ca Mau, Bac Ninh, Son La). Some localities have a fairly high increase in the IIP index due to the processing and manufacturing industry; the electricity production and distribution industry increased sharply. On the contrary, some localities have a low increase or decrease in the IIP index due to the processing and manufacturing industries; the mining industry and the electricity production and distribution industry increased slightly or decreased. Some key industrial products in January 2024 increased compared to the same period last year such as diameter, rolled steel, textiles from natural fibers, powdered milk, chemical paint, NPK mixed fertilizer, steel bars, angle steel, cigarettes. On the other hand, some products decreased compared to the same period last year including phone components, televisions, mobile phones and crude oil exploitation.

In January 2024, FDI attraction increased sharply

-Baochinhphu-

In the first month of 2024, 190 new projects were granted investment registration certificates, an increase of 24.2% YoY. Total registered capital reached more than 2 billion USD, increased by 66.9% YoY. In terms of investment, foreign investors have invested in 15 majors out of a total of 21 national economic majors. Among them, real estate business leads with a total investment capital of more than 1.27 billion USD, accounted for 53.9% of total registered investment capital and doubled in the same period. Followed by the processing industry and professional activities, science and technology, wholesale and retail. Moreover, there were 39 countries and territories investing in Vietnam. Of which, Singapore leads with a total investment capital of more than 1.4 billion USD, accounted for 59.5% of total investment capital, an increase of 72.8% YoY. Japan ranks second, followed by Samoa, China, Hong Kong (China). Foreign investors have invested in 35 provinces and cities across the country. Hanoi leads with a total registered investment capital of more than 867 million USD, accounted for 36.7% of total registered capital and 39.7 times higher than the same period in 2023. Ba Ria-Vung Tau ranks second, then is Bac Giang, Bac Ninh, Dong Nai.

Groundbreaking for the Boeing 787 and Boeing 737 Max aircraft components factory in Da Nang

-Tuoitre-

On January 30th, KP VINA aviation components factory was started construction in Da Nang High-tech Park. The project is invested by KP Aerospace Vietnam Co., Ltd., with a construction area of about 2 hectares and a total investment of 20 million USD. The factory will be the place to produce, process and assemble aircraft parts, including auxiliary engine door, MIC head, wing box (Wingbox), winglet (Winglet), left wing support system of Boeing 787 and Boeing 737 Max aircraft. The project is expected to begin operations in 2024. This is the second project in the aerospace sector invested in Da Nang High-Tech Park.

TTC Plaza Da Nang welcomes 'VIP' guests to rent wholesale

-Ngoiquansat-

AeonMall Vietnam signed a lease contract for all 4 commercial floors of the TTC Plaza Da Nang project, started construction by Saigon Thuong Tin Real Estate Joint Stock Company (TTC Land) and Coteccons (CTD) on January 10th. After more than 10 years of development in the Vietnamese market, AeonMall Vietnam has gradually built and realized the goal of opening 30 shopping centers in the near future. On the occasion of the special period marking the 50th anniversary of diplomatic establishment between Vietnam and Japan (1973 - 2023), AeonMall Vietnam also contributes to the good relationship between the two countries by cooperating in the form of wholesale leasing of TTC Plaza Da Nang shopping center with TTC Land. TTC Plaza Da Nang project is located in a prime location with 4 road frontages and near the international airport. This is one of the key commercial complex projects in the near future in the Da Nang city center, including 18 floors with 4 commercial floors (AeonMall Shopping Center), 126 service apartments, 150 hotel rooms and more than 30,000 sqm of office floor for rent. On January 10, TTC Land and contractor Coteccons officially held a groundbreaking ceremony for the project.

Sun Group held a groundbreaking ceremony about 400ha project in Ha Nam

-CafeF-

On January 30th, the People's Committee of Ha Nam province held a ceremony to announce the provincial planning for the period 2021 - 2030, vision 2050, and at the same time started commence phase I of the Bac Chau Giang New Urban Area project complex with a scale of approximately 405 hectares. The project is invested by Sun Group and total investment of 35,000 billion VND. The project includes 4,500 commercial townhouses, 1,200 semi-detached and single villas, 40 blocks with 9 floors and 15,000 apartments and social infrastructure facilities such as schools, cultural houses, hospitals. It is expected that after completion, the project complex will pioneer in creating a new city, the first modern new urban area and administrative center in Ha Nam, providing ideal living, relaxing, entertainment and working space. This large-scale project will also create motivation for Ha Nam to realize the goal that by 2030, the urbanization rate of the entire province will reach over 60%, the service industry accounts for 26% of the economic structure as planned by the Prime Minister.

FPT Long Chau and IHH Healthcare Singapore signed a cooperation agreement

-VIR-

FPT Long Chau and top private healthcare provider IHH Healthcare Singapore signed a cooperation agreement on January 29 to enhance the quality of high-tech medical treatment available in Vietnam. Through long-term investment in Vietnam, this plan aims to take advantage of specific phases, from joint ventures to expand outpatient treatment services to a focus on helping patients access high quality healthcare services at affordable costs. IHH Healthcare Singapore is a major healthcare group in Asia, managing reputable and trusted healthcare brands such as Gleneagles, Mount Elizabeth and Parkway. Meanwhile, FPT Long Chau has affirmed its position by retailing prescription drugs, including cancer treatment drugs. This event marks another important turning point for Long Chau as it encroaches on developing new business models in the field of medical examination and treatment, especially serious diseases such as cancer.