Vietnam needs to diversify for sustainability, and more news

For PropertyGuru’s real estate news roundup, Vietnam’s heavy reliance on a few key markets exposes its economy to significant risks. In other headlines, Cybersecurity company Proofpoint is set to open a state-of-the-art data centre in Singapore. Lastly, the Central Bank of the Philippines is expected to keep mortgage rates stable until mid-2025.

Vietnam must diversify supply chains for sustainable growth
Vietnam’s heavy reliance on a few key markets exposes its economy to significant risks, according to economists. Diversifying supply chains and bolstering domestic industries are essential to ensuring sustainable economic growth. VietnamPlus highlights that reducing dependence on single sources for critical imports, particularly in manufacturing and technology, is crucial to enhancing resilience against global uncertainties. The report further underscores the importance of fostering regional trade and investing in local supply networks as measures critical for long-term stability.

Proofpoint to launch data centre in Singapore
Cybersecurity company Proofpoint is set to open a state-of-the-art data centre in Singapore to meet the growing demand for robust data protection solutions in the Asia-Pacific region. iTNews Asia reports that this facility will enhance data privacy and operational efficiency, cementing Singapore’s position as a leading hub for digital infrastructure. The expansion aligns with Proofpoint’s vision of addressing local compliance requirements and delivering improved services to its customers across the region.

Philippines’ mortgage rates to remain steady until mid-2025
The Bangko Sentral ng Pilipinas (BSP) is expected to keep mortgage rates stable until mid-2025, providing much-needed predictability for Filipino homebuyers. BusinessWorld explains that this projection is due to inflation staying within target levels and a cautious approach to monetary tightening. Analysts suggest that the stable rates could encourage growth in the property market, particularly benefiting first-time buyers and investors looking for affordable housing opportunities.

The Property Report editors wrote this article. For more information, email: [email protected].