On August 23 the State Bank of Viet Nam set the benchmark exchange rate at VND23,127 to the dollar, weakening the dong by VND5 compared to the previous five days (August 19).
According to the Viet Nam Real Estate Brokers Association last year around 23,000 units of condotels, or condo-hotels, were offered for sale, and 65-70 per cent of them were snapped up. However, demand for condotels seems to be falling.
The entry of foreign securities companies has sharply raised the quality of services and technology in the market. But for all their success, the number of foreign brokerages has been increasing at a snail’s pace.
Securities firms have been issuing bonds to increase their capital in an
attempt to prepare for new opportunities in the local stock market,
online newspaper stockbiz.vn reported on Tuesday.