Business News

[01-06-2015] A credit package worth some VND20 trillion (US$952.38 million) will be released to support homebuyers interested in commercial and urban housing projects, reported Xay Dung, the Ministry of Construction's e-paper. The ministry made the announcement in a document sent to the government office, whereby it approved the lending programme suggested by the State Bank of Viet Nam.

[22-05-2015] As liquidity increases in the real estate market, opportunities are arising in Ho Chi Minh City’s up-market housing sector. Managing director of Savills Vietnam Neil MacGregor told VIR that he was witnessing a period of rapid change in the high-end real estate market with a growing number of excellent, international-quality developments set to enter the country throughout 2015.

[26-05-2015] The Law on Special Economic Zones is expected to help Vietnam to make a great leap forward although it is introduced later than expected. This is perhaps an important testing agent for the 30-year reform process of Vietnam, especially when the country is determined to basically complete the regime of socialist-oriented market economy by 2020 built from common standards of modern market economy and international integration.

[27-05-2015] Dai Quang Minh Corporation has said apartments in its Sala Urban Area, which it is developing in Thu Thiem in HCM City, will cost from VND 40 million per square metre plus value-added tax. It said it would start selling the apartments on June 7.

[25-05-2015] Mark Cameron of the UK, who lives and works in Viet Nam, believes that he will be able own residential property thanks to the revised Law on Housing, which has removed prior restrictions on foreigners from buying property in the country. It will take effect next month.

[14-05-2015] The property market in Vietnam is showing signs of getting warmer and industry insiders do not think there will be another real estate bubble as there was seven years ago. The latest housing bubble occurred in Vietnam in the 2007-2008 period, when investors rushed to the realty sector after the stock market went into a crisis.

[11-05-2015] At present, it is difficult to say with certainty what constitutes a foreign invested enterprise under Vietnamese laws. Some legislation currently in effect suggests that any amount of foreign ownership constitutes a foreign invested company. Meanwhile, other legislation, also currently in use, is taken by many to mean that an enterprise with a threshold of 49 per cent and upwards constitutes a foreign invested enterprise (FIEs).

[10-05-2015] Amata VN PCL, a unit of Thailand's biggest industrial estate developer, Amata Corp PCL, has announced plans to invest in an industrial park in the northern city of Quang Ninh. Somhatai Panichewa, president of Amata VN PCL said it will invest 70% in the joint venture with the remaining 30% owned by the Vietnamese Tuan Chau Group.