Want to be in the loop?
subscribe to
our notification
Business News
ASSOCIATION PROPOSES HOUSING STIMULUS PACKAGE
HCM City Real Estate Association has proposed the State Bank of Viet Nam should raise a stimulus package similar to its previous VND30 trillion (US$1.3 billion) preferential home loan package.
The package should aim to provide preferential loans for the purchase of affordable apartments, with prices of around VND1 billion per unit.
Since the VND30 trillion housing stimulus package ended in 2016, no similar packages were released, while demand remained high, the association said.
The association said a sum of VND1 trillion out of VND2 trillion, allocated to the Viet Nam Bank for Social Policies to support social housing projects, should be transferred to four credit institutions - Vietcombank, Vietinbank, Agribank and BIDV - to provide preferential loans for social housing purchases.
In addition, the State budget should spend some VND1-2 trillion annually in the 2018-20 period to provide loans for affordable home purchases at the preferential interest rate of 4.8 per cent per year.
The association also proposed mechanisms to be put in place to ensure the preferential lending package is used for the right purposes.
Further, preferential credits should also be provided to social housing developers to lower housing prices.
The VND30 trillion housing stimulus package was introduced in 2013 when the real estate market faced high inventories and bad debts after the 2008-09 freeze.
Some 70 per cent of the package was provided to home buyers at preferential interest rates. The package helped more than 56,000 low-income earners to own homes.
Source: VIR
Related News
VIETNAM INTENSIFIES E-COMMERCE TAX SCRUTINY
The department plans to offer guidance for and hold direct dialogues with e-commerce taxpayers to ensure compliance. Efforts will also include updating the e-commerce database, conducting risk analysis, and leveraging artificial intelligence (AI) to manage data and issue alerts.
2025 PIVOTAL FOR STOCK MARKET UPGRADE EFFORT
The Ministry of Finance (MoF) is expected to soon publish the entire content of the draft circular amending and supplementing four circulars on transactions, registration, depository, and clearing, as well as operations of securities companies and information disclosure. This move, along with feedback and explanations, aims to meet the criteria for upgrading Vietnam’s stock market.
FOOTWEAR EXPORTS SEEN REACHING US$27 BILLION THIS YEAR
This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.
CAPITAL FLOWS STRONGLY INTO INDUSTRIAL REAL ESTATE
Industrial real estate has had easier access to bank credit since July, when the State Bank of Vietnam (SBV) reduced the credit risk coefficient for industrial real estate from 200 per cent to 160 per cent, encouraging commercial banks to lend to more projects in the segment.
GDP GROWTH REACHES 6.42 PC IN FIRST HALF
Vietnam's economy grew by 6.42 pc in the first six months of 2024, slightly lower than the figure of 6.58 pc in the same time of 2022 within the 2020-2024 period.
FDI INFLOW INTO VIETNAM REACHES NEARLY 15.2 BILLION USD
Vietnam attracted nearly 15.2 billion USD in foreign direct investment (FDI) in the first six months of this year, a year-on-year increase of 13.1 per cent, according to the General Statistics Office.