Want to be in the loop?
subscribe to
our notification
Business News
NEWLY ISSUED DECREE 25 UNPLUGS BOTTLENECKS FOR REAL ESTATE PROJECTS
Decree No.25/2020/ND-CP (Decree 25) issued by the prime minister on February 28, 2020 has broken through the biggest obstacles facing real estate projects nationwide in land bidding and implementation.
On February 28, 2020, the prime minister signed Decree 25 detailing the implementation of a number of articles of the Bidding Law regarding the selection of developers and project implementation.
This new decree replaces Decree No.30/2015/ND-CP with many new points, with the most important being that the land will be allocated to the winning investors immediately after land clearance and compensation activities, as well as the resettlement of residents, is completed.
Decree 25 has also stoppered a glaring hole in the legal framework, as neither the Land Law nor the Bidding Law clarified which steps need to be done to hand over land to winning developers. This has lead to a great many projects that were delayed by multiple years as localities could not hand over sites and projects to developers who had won the bids for them.
According to Dr. Tran Dinh Thien, former director of the Vietnam Economics Institute and current member of the Economic Advisory Team of the prime minister, this decree will facilitate the resumption of a range of projects which have been delay for years, reducing the losses of developers and the whole society.
“This stagnation should have been dealt with a time ago but better late then never, this will be welcomed by developers, especially at when the industry is suffering from the strong impacts of the COVID-19,” Thien said.
Decree 25 is also expected to open up great opportunities for many local authorities and developers, especially the ones that have completed bidding procedures and are waiting for instructions on land allocation across the country.
Source: VIR
Related News
VIETNAM EYES 8% GDP GROWTH IN 2025
The State Bank of Vietnam (SBV) has been tasked with closely monitoring global and regional economic developments and adjusting monetary policies to align with shifts in major economies. The directive emphasizes reducing lending rates, managing deposit rates at commercial banks, and ensuring credit flows remain uninterrupted in early 2025.
GOVERNMENT MEMBER FOR 2021-2026 TERM
The 2021-2026 government term was recently consolidated after the 8th session of the 15th National Assembly. It consists of 27 members, including the Prime Minister, five Deputy Prime Ministers, and 21 ministers and heads of ministerial-level agencies.
EXCLUSIVE OFFER FOR HKBAV MEMBERS
Minimum order: 1 box (10 gift boxes per box; 6 gift bags per box)Free shipping on orders over 2 million VND (nationwide delivery across Vietnam)Volume discounts available for large orders
TOTAL FDI REGISTERED IN VIETNAM HITS 31.4 BILLION USD IN JANUARY-NOVEMBER
As of November 30, 2024, the total newly registered capital, adjusted capital, and capital contributions or share purchases by foreign investors in Vietnam reached nearly 31.4 billion USD, up 1% increase compared to the same period last year.
QUANG TRI TARGETS 6,000 MW WIND POWER CAPACITY BOOST
The central province of Quang Tri is seeking the Government’s approval to expand its wind power capacity by an additional 1,500-2,000 MW for onshore projects and 2,600-4,000 MW for offshore projects, according to the Vietnam News Agency.
HCMC’S RETAIL SALES REACH NEARLY VND568 TRILLION
HCMC’s retail sector has shown a notable recovery this year, with total retail sales of goods nearing VND568 trillion, an 11% uptick compared to the previous year, according to the HCMC Department of Industry and Trade.This year marks the second consecutive year the city has implemented its market stabilization program, with businesses playing a pivotal role in maintaining stable prices and ensuring a steady supply of goods.