VIETNAM GRANTS AUTOMATIC VISA EXTENSION FOR FOREIGNERS UNTIL JUNE 30 WITHOUT ANY FEE
The Immigration Department announced on Monday all stay permits for these people will be automatically extended and do not need to be renewed.
CALL FOR MEMBERSHIP FOR VBF POWER & ENERGY WORKING GROUP
The VBF Power & Energy Working Group (“VBF PEWG”), established in 2011, is a platform under the Vietnam Business Forum Consortium, serving as a policy dialogue channel between the Vietnam’s relevant government authorities and the private sector towards a sustainable energy development in Vietnam.
GOOD INFRASTRUCTURE GIVES A BOOST TO REAL ESTATE IN EASTERN HANOI
Transport projects, including the extended Highway No 5, the intersection of the Ring Road 3 with the Hanoi- Hai Phong and Co Linh motorway, and phase 2 of Vinh Tuy Bridge, will be built from 2020-24. Phase 2 of Vinh Tuy Bridge will cost a total of 2.5 trillion VND (106.5 million USD).
VN CONTINUES TO CLOSE BORDERS TO FOREIGN TOURISTS
Competent authorities are required to continue strict entry control and quarantine regulations to deter community transission. Foreign investors, experts, skilled workers, business managers, officials, and Vietnamese students learing aborad are allowed to enter the nation but they must comply with the nation’s quarantine regulations.
INDUSTRIAL PARK DEVELOPERS IMMUNE TO COVID-19
Industrial park infrastructure development companies continue to do well amid the Covid-19 pandemic, and the industrial property sector is expected to thrive since Việt Nam is considered among the most attractive investment destinations post-pandemic.
AUXILIARY BORDER GATES, CROSSINGS WITH CHINA TO REOPEN
Prime Minister Nguyen Xuan Phuc has allowed the re-opening of auxiliary border gates and border crossings to resume trading activities between Vietnam and China, according to the Ministry of Industry and Trade (MoIT).
MORE RATE CUT TO STIMULATE DEMAND
According to the State Bank of Vietnam (SBV), banks are actively offering new soft loan packages to customers. The combined value of this credit package has to date reached VND650 trillion (US$28 billion) with lending rates 1-2% lower than those before the Covid-19 pandemic outbreak. 147,637 customers have borrowed VND553 trillion (US$23.6) since January 23, 2020.
SOUTH KOREAN GROUP PROPOSES $150 MILLION TECHNOPARK IN DONG NAI
Vietnam-Korea Techno Park proposed to the Dong Nai provincial government to build a 300-hectare industrial park. The project will be developed in three stages with $150 million in total investment and is expected to lure $2-3 billion of investment within six-nine years of operation.
