Rental prices of industrial land set new record
Thanks to an improved manufacturing industry and border reopening, the flock of foreign investors has led rental prices of industrial land to set a new record.
The statistics from JLL Vietnam show that in the first quarter, the rental price in industrial zones (IZs) in the south reached a new record average of $120 per square metre, up 9 per cent on-year.
In Ho Chi Minh City, the rental price at Tan Thuan Export Processing Zone is $270 per square metre and at both Hiep Phuoc 1 and Hiep Phuoc 2 IZs, it stands at $250 per sq.m.
In the north, the price is $109 per sq.m, signifying an increase of 9.2 per cent on-year.
The statistics published by the Foreign Investment Agency under the Ministry of Investment and Planning showed that in the first four months of this year, $5.3 billion was added to 323 foreign-invested projects currently underway, a rise of 92.5 per cent in value and 22.8 per cent more in number.
The capital contribution in mergers and acquisitions (M&A) saw a positive change when overseas investors also poured $1.8 billion into over 1,000 deals, signifying an increase of 74.5 per cent on-year.
Since March 15, citizens from 13 countries including Germany, South Korea, Japan, and France have been allowed to travel to Vietnam for 15 days without a visa.
Experts from Savill Vietnam stated that Vietnam’s border reopening is important in strengthening the confidence of international businesses and investors, and is a promising sign for the economy.