Remittances set record of US$18.1 billion
According to the World Bank and Global Knowledge Partnership on Migration and Development (KNOMAD), total remittances to Vietnam in 2021 may hit up to $18.1 billion, with about $6.5 - 6.6 billion for HCM City.
According to money transfer companies, remittances mainly come from traditional markets such as the US, Canada, and Australia. However, the proportion of remittances from Asian countries has increased as there are more Vietnamese workers.
Remittances from the traditional markets of the US, Australia, Canada have declined over the years because of the looser relationship between the new generations in Vietnam and overseas Vietnamese in these countries. Moreover, as Vietnam's economy is developing strongly, sending money home is no longer as necessary.
Due to the border policy in many countries which prevented many overseas Vietnamese from returning home to visit their families, they transferred more money to support their families in Vietnam.
Apartment sales in HCM City increase by 6 times
According to DKRA Vietnam, the apartment market in Ho Chi Minh City is in the peak season. In November, 2,431 new apartments were launched on the market and 68% were sold, six times higher than the previous month, and 2.4 times over the same period in 2020.
Over VND20 trillion corporate bonds issued in November
According to the Vietnam Bond Market Association (VBMA), in November 2021, there were a total of 40 private corporate bond issuances in the country, with a total value of VND18,276 billion, plus the issuance of corporate bonds of Vinhomes Joint Stock Company worth VND2,090 billion.
Real estate firms took the lead with VND8,476 billion, accounting for 42% of the total value of corporate bonds issued in the month. Of which, about 59% of issued bonds were secured by shares or were without collateral.
The banking group ranked second with VND7,950 billion, accounting for 39% of the total value of corporate bonds issued in the month.
Vietnam to apply new emissions standards in 2022
According to the Prime Minister’s Decision No 49/2011/QD-TTg on the roadmap for the application of exhaust emission standards, manufactured, assembled and imported brand-new cars in Vietnam will be subject to level-5 exhaust emission standards from January 1, 2022.
Level-4 and level-5 are standards on the testing and limits of pollutants in exhaust gases applicable to manufactured, assembled and imported brand-new motor vehicles. They are equivalent to Euro-4 and Euro-5 limits provided in United Nations Economic Commission for Europe’s technical regulations on motor vehicle exhaust emission or in European Union directives.
With new emission standards in place, cars would become more environmentally friendly, effectively reducing exhaust fumes in the atmosphere.
As major buyers in the market, commercial banks are holding large amounts of corporate bonds, mostly realty bonds. The central bank has issued a warning about the risks with the bonds.
Although the Covid-19 epidemic has negatively affected the global economy, the amount of remittances remitted to Vietnam in 2021 is still high.