Business News

[25-03-2015] Hong Kong’s Chow Tai Fook and Macau’s Sun City have replaced Genting Berhad Malaysia in a US$4-billion integrated resort project in Quang Nam Province. The government of Quang Nam Province on Monday awarded a revised investment certificate to the South Hoi An resort project with involvement of Chow Tai Fook, Sun City and the project’s existing investor VinaCapital.

[25-03-2015] Hoa Binh Group has become the first local developer to capitalise on the amended Residential Housing Law to sell apartments to foreigners. The company has announced that it will earmark a large number of apartments at Hoa Binh Green City project in Hanoi for sales to expats once the law takes effect on July 1, 2015.

[23-03-2015] Deputy Prime Minister Hoang Trung Hai asked the Ministry of Investment and Planning yesterday to aggressively demolish industrial zones which are not operating effectively or facing difficulty in attracting investment. Hai made the request at a meeting between the Steering Committee on Development of Economic Zones and Industrial Zones, and management boards of local economic zones (EZs) and industrial parks (IPs) held in Ha Noi.

[20-03-2015] The Ministry of Planning and Investment has released the information about the development of economic zones (EZ) and industrial parks (IP) in 2014. Accordingly, in 2014, five IPs were set up; seven were expanded and two had investment certificates withdrawn. At the end of 2014, as many as 295 IPs were established on a total area of 84,000 ha, of which 212 are operating.

[16-03-2015] The recent resurgence in the country’s residential real estate segment has partially been attributed to the changes in legislation that are set to take affect from July according to industry insiders. Jonathan Tizzard, national head of valuation & research from Cushman & Wakefield  Vietnam expressed his positivity about the changes.

[16-03-2015] Foreign developers have returned to the Vietnamese real estate market with a series of significant investments. Apart from existing experienced real estate developers eager to expand their portfolios, recent times have seen the emergence of new companies willing to test their ambitious development plans.

[12-03-2015] Investors of foreign-investment housing projects, who have not handed over the units to the buyers, will not be allowed to collect more than half of the apartment's value. This is part of a draft regulation of the construction ministry - prepared on the basis of the law on the real estate business – that is now inviting public opinion.

[09-03-2015] The number of new property trading firms established during January and February this year surged 88.8% from the same period last year, according to the General Statistics Office. The real-estate sector also saw a large number of firms resuming operations, up 52.8% from a year ago.