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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
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