Hundreds of Vietnam Property Firms Have Shut as Crisis Drags

More than 1,800 companies engaged in developing and selling properties in Vietnam have suspended operations in the first quarter in signs of a lingering strain in the sector beset by funding woes.

That number has jumped 61% from a year earlier, while the new property companies that opened in the first three months of 2023 plunged 63%, according to the country’s construction ministry. Some 340 other companies were dissolved in the same period, it said.