Want to be in the loop?
subscribe to
our notification
Business News
CONSTRUCTION MINISTRY TO REVALUATE UNLICENSED BUILDINGS
Unlicensed buildings could be revaluated and might not be demolished, provided they can meet the required standards with further planning and development, said Le Quang Hung, deputy construction minister.
Hung also stressed, at a press meeting in Ha Noi on Thursday, that the country is estimated to have around 60,000 types of licences for both small and large-scale real estate projects, and the number of construction projects that violate regulations on licensing permissions have decreased annually. In the past five years, this rate went down by around 10 to 20 per cent, he added.
“However, cases of construction projects without permissions and violations of business licences have been seen nationwide. The plan is to suspend all illegal constructions,” he stated, adding that unlicensed buildings will be demolished.
The legal framework for construction management and licensing has been gradually improved, he further added.
Bui Trung Dung, director of the ministry’s Construction Department, said that the law on building and architectural planning management is the legal basis for licensing in the sector.
Nguyen Ngoc Tuan, chief inspector at the ministry, said that potentially illegal construction projects must ensure that they do not violate the boundaries of private land, and there must not be any legal disputes or people still living on the site if they want to continue.
The owners of illegal buildings will also be fined up to 50 per cent of the value of their building, he added.
He further added that in 2010-2011, the legal framework for licensing construction projects has not been formalised, which resulted in an “ask-and-give” policy at provincial level.
Therefore, the ministry has acted to resolve these violations, he concluded.
Controlling property market reports
While answering the issue of too many property reports with different market figures, Nguyen Trong Ninh, director of the ministry’s Department of Housing and Real Estate Management, said that their information system has become extremely important, as it assists government agencies to review the requirements of businesses in terms of purchasing.
Ninh added that current regulations do not forbid businesses from exchanging information. Companies and individuals should therefore look at relevant information, as the available reports are not the same and are not exact, he further added.
The ministry receives official information from communes, wards, cities and provinces, as well as departments of construction. Other information from associations and consulting firms should be considered as reference only.
“The ministry has directed our information centre to create a property database, with a total investment of VND10 billion. It will take a long time to process the real estate information of all 63 localities, but we will establish teams to do the work at these localities,” he said.
The ministry has also completed a draft decree on building, managing and using information systems on housing and the real estate market, to submit to the government for review. The information will include all projects, real estate transactions and yearly inventories.
Source: VIR
Related News
![Card image cap](/uploads/Promotion news/2024/Promo/Untitled%20design%20%281%29.png)
XIN CHÀO HÀ NỘI: CROSS-BORDER GROWTH WITH E-COMMERCE AND DIGITAL SOLUTIONS
UOB Vietnam organize the "Xin Chào Hà Nội: Cross-border Growth with E-commerce and Digital Solutions" Programme with the desire of to help businesses equip themselves with knowledge on how to apply relevant technologies in developing cross-border e-commerce strategies.
![Card image cap](/uploads/news/Industry%20zone4.jpg)
VINH PHUC TO DEVELOP 24 INDUSTRIAL PARKS BY 2030
According to the plan endorsed by the Prime Minister of Vietnam, Vinh Phuc province is set to establish five new industrial parks by 2030, increasing the total number of parks to 24 and expanding the land area to 7,000 hectares.
![Card image cap](/uploads/news/F%20%26%20B.jpg)
30,000 F&B OUTLETS SHUT DOWN IN FIRST SIX MONTHS OF 2024
As of the end of June, Vietnam had around 304,700 F&B stores, down 4 per cent compared to the same period last year. More than 30,000 stores have closed nationwide, with a limited number of new openings, according to market analysis by iPOS.vn.
![Card image cap](/uploads/news/Investment7.jpg)
MINISTRY DRAFTS PROJECT ON HUMAN RESOURCES DEVELOPMENT FOR SEMICONDUCTOR INDUSTRY
MPI Deputy Minister Nguyen Thi Bich Ngoc said that the building of the project is crucial, especially in the current period. She said that the ministry has collected opinions from ministries, sectors, localities, research institutes, and universities while listening to ideas from domestic and foreign experts.
![Card image cap](/uploads/news/Port%204.jpg)
LOGISTICS GROUPS BRANCH OUT FOR GAINS
Deputy director Tran Hong Kien said, “In the next five years, our revenue and profit are expected to grow continuously on an annual basis at an average rate of about 11 and 23 per cent, respectively. Return on equity is expected to reach about 14 per cent a year on average. This is a good performance compared to other companies in the same industry.”
![Card image cap](/uploads/news/Finance%208.jpg)
CROSS-BORDER E-COMMERCE TO BE BOOSTED
As Vietnam is an export-oriented economy with abounding potential for the development of textile apparel, footwear, rice and agricultural products, the room for cross-border e-commerce development proves enormous, Anh added.