DA NANG GREENLIGHTS $606 MILLION LOGISTICS PLAN
The central city of Da Nang has approved a master plan for the development of its logistics infrastructure by 2030 with total investment of VND13.7 trillion (US$606 million).
MORE BANKS PERMITTED TO EXPAND CREDIT GROWTH
The State Bank of Việt Nam (SBV) recently decided to allow more commercial banks to expand their credit growth limits in 2018. The credit quota for Military Bank (MB) has been lifted from 15 per cent allocated at the beginning of the year to its new level of 17 per cent, the Bản Việt Securities Company reported.
OVERSUPPLY OF HIGH-END REAL ESTATE
In the first 10 months of 2018, the real estate market in the whole country showed signs of decrease both in supply and volume of transactions. Especially, the sign of reduction was very clear in the two big cities of Hanoi and Ho Chi Minh City, said the Ho Chi Minh City Real Estate Association (HoREA) in its latest report.
START-UPS EMBRACE LOGISTICS SECTOR
The logistics sector has been the bottleneck for Việt Nam’s economic development, but offers plentiful opportunities for local startup companies with the application of technologies.
POLICIES COME INTO EFFECT IN DECEMBER
A string of fresh policies on holiday salary, pensions for female laborers, social insurance for foreign workers shall come into effect in December. Working duration serves as the basis for calculating severance allowance and redundancy pay The Government issued Decree No. 148/2018/ND-CP (“Decree 148”) on October 24, 2018 amending, supplementing certain guidelines of Decree No. 05/2015/ND-CP detailing the implementation of the Labor Code. Decree 148 shall become effective from December 15, 2018.
MINISTRY OF FINANCE TO REDUCE, SIMPLIFY 176 ADMINISTRATIVE PROCEDURES
The Ministry of Finance recently issued Decision 2141/QD-BTC approving the plan for reduction and simplification of administrative procedures within its jurisdiction. Accordingly, the ministry will cut and streamline 176 administrative procedures in 13 fields, of which 148 administrative procedures will be reviewed for elimination and 28 administrative procedures will be simplified.
JAPANESE CAPITAL CONTINUES POURING INTO TEXTILE AND GARMENT
Japanese firms are scaling up investment into Vietnam’s textile and garment sector to take advantage of the huge market potential and Vietnam’s new-generation free trade agreements.
PROPERTY FIRMS LOOK TO STOCKS FOR CAPITAL
With banks tightening credit to the property sector, developers should look at the stock market for capital, experts told a workshop on “Potential and opportunities for investment in property stocks on Friday.
