Page 5 - KTVNSO46
P. 5
Summary
32 STOCK
34 PROPERTY
Individual corporate Real estate market in 2024
RECOVERY,
market
in better health but not
‘HEATED’
T he corporate bond market in October saw many positive M any analysts believe that Vietnam’s real estate market
signs in both the primary and secondary markets.
is witnessing positive factors and currently has
According to the Vietnam Bond Market Association sufficient sound information to begin a new cycle
(VBMA), the total value of corporate bonds issued in October next year. The market will continue its recovery trend in
was VND20.826 trillion ($926 million). Although this is a the fourth quarter of this year and into next year, with
decline of 49.02 per cent compared to September, it increased clearly improved transaction results compared to previous
6,124 per cent year-on-year. There has been a crisis in the quarters due to greater investor confidence and lower
corporate bond market since October last year, with a series of interest rates. The market’s recovery will certainly continue
lawsuits relating to bond issuances being instigated, but these to be differentiated by segment and region because of
figures clearly reflect the current market situation. After a year varying absorption capacities. However, any recovery is
of various support coming from the government, relevant unlikely to result in sudden growth in the short term
ministries, and businesses themselves, the market has because the market has gone through a long period of
improved significantly. sustained difficulties.
44 TRADE - MARKET 50 BUSINESS - ENTREPRENEURS
Revenues across industries
falling sharply
Efforts made to restore
growth momentum in
seafood exports
T he Board for Private Economic Development
Research (IV Board) has released a report
analyzing business cash flow pressures and policy
V ietnam’s exports of many seafood products has shown recommendations for the end of 2023, which showed
that revenues across industries have fallen sharply since
signs of recovery after a gloomy period, but trade
promotion programs need to be better promoted to mid-2022; most seriously in real estate and
gradually regain growth momentum and comply with export construction. The IV Board believes that businesses’
market regulations. Commenting on the level of seafood exports internal strength is weak and many face difficulties due
in the time to come, the Vietnam Association of Seafood to lower aggregate demand, so capital absorption is
Exporters and Producers (VASEP) believes that this will depend problematic. Business difficulties in the short term lie
largely on two main markets - the US and China. Both are in cash flow to maintain operations, so immediate
recording positive signs in terms of demand, with orders policies need to focus on supporting this. In the short
increasing. However, export prices are still lower than in the term, the government has directed ministries,
same period last year. Removing the EU’s “yellow card” on branches, localities, and agencies not to issue
Vietnam for illegal, unreported and unregulated (IUU) fishing regulations that create new fees or costs for businesses,
is the most important task, not only for exports to the EU but at least in the second half of 2023 and possibly into the
also for the seafood industry’s overall sustainable development. first half of 2024.
www.vneconomy.vn Số 46 | Ngày 13/11/2023 | KINH TẾ VIỆT NAM 5