Government proposes issuing land price lists annually
HCMC – The Government has submitted a draft of the amended Land Law to the National Assembly, proposing land price lists be annually issued to closely track market prices. Provincial land price lists are currently issued every five years under the 2013 Land Law to provide a basis for calculating
Trade Ministry backs 50% car registration fee cut
HCMC – The Ministry of Industry and Trade has thrown its weight behind a proposal for a 50% registration fee cut and an extension of special consumption tax payments for domestically made and assembled cars to boost consumption. Deputy Minister of Industry and Trade Phan Thi Thang wrote to the
Compensation rates approved for land along Beltway 3
HCMC – The HCMC People’s Committee has approved the land price adjustment coefficient to determine compensation rates for households and individuals affected by the Beltway No. 3 project. The compensation will be applicable to land revoked by the city for the construction of component 1A under the
Large commercial banks agree to further cut interest rates
HCMC – Four state-owned commercial banks have agreed to further reduce interest rates following their meetings with the Government and the State Bank of Vietnam (SBV). Prime Minister Pham Minh Chinh held a meeting with the SBV and state-owned commercial banks on credit growth yesterday in Hanoi,
Thua Thien Hue focuses on promoting green and sustainable transport development
The Chairman of the People's Committee of Thua Thien - Hue province said that electric taxis align with local construction and development orientation based on heritage and environmental friendliness.
Airfares for upcoming holiday plunge
HCMC – Domestic airfares for the upcoming holiday have significantly dropped compared to last week’s levels, with many flights seeing a reduction of 25-30% in ticket prices. Vietjet Air has announced to revise down airfares for the Hanoi-HCMC route, departing on April 29 and returning on May 3,
New FDI approvals down in Jan-Apr
HCMC – Fresh foreign direct investment (FDI) approvals nationwide in the year to April 20 had reached nearly US$8.9 billion, down 17.9% against the year-ago period, according to the Foreign Investment Agency at the Ministry of Planning and Investment. There were 750 new FDI projects registered
Banks allowed to reschedule debt
HCMC – Banks can now reschedule debt owed by corporate clients, according to a new circular issued by the State Bank of Vietnam (SBV). Circular 02, which is in force until June 30, 2024, permits banks to extend debt repayment and keep debt classfications unchanged for debtors who are struggling to
Central bank eases control over corporate bond buybacks
HCMC – The State Bank of Vietnam (SBV), the central bank, is providing much-needed support for the illiquid corporate bond market by making it easier for local banks and branches of foreign banks to buy back corporate bonds. On April 23, the SBV issued Circular 03/2023, suspending Clause 11,
FPT Telecom wants to spend 87 million USD to invest in undersea fiber optic cable
FPT Telecom is expected to participate in the ALC undersea cable with a total investment of 87 million USD, of which 30% is equity.
Vinh Hao-Phan Thiet expy opened to traffic on May 19
HCMC – Mai Son-National Highway 45 and Phan Thiet-Dau Giay expressways will be opened to traffic on April 29 while Vinh Hao-Phan Thiet expressway will be put into service on May 19. On April 24, the Ministry of Transport issued an inauguration ceremony agenda for the eastern North-South Expressway
Multiple realty firms exit market in Jan-Mar
HCMC – The number of real estate businesses pulling out of the market surged in the first quarter of this year while new market entrants dropped sharply, according to the Ministry of Construction, At a press conference on April 24, Hoang Hai, director of the Housing and Real Estate Market
