HOREA proposes interest subsidy incentive for homebuyers
HCMC – Prices of many commercial housing units have plunged 50% to around VND2 billion each. However, they remain unsalable due to buyers’ hesitation in taking out mortgages amid high lending rates. Therefore, the HCMC Real Estate Association (HoREA) has written to the prime minister and the
Samsung inaugurates largest Southeast Asia R&D center in Vietnam
HCMC – Samsung Electronics held an official opening ceremony for its largest Southeast Asia research and development center in Hanoi this morning, December 23, reported the local media. This new R&D Center in Hanoi spans around 11,603 square meters of land, requiring an investment of US$220
Central bank restricts interest rate hikes
HCMC – The central bank’s governor has urged commercial banks to step up efforts to slash interest rates to ensure adequate credit for businesses, saying it would monitor and may impose sanctions on banks hiking rates. Yesterday, November 22, the State Bank of Vietnam (SBV), the country’s central
Legislation for trading carbon credits needed
HCMC – Vietnam has introduced a roadmap for the development of the domestic carbon market by 2027, preparing for a Net Zero future as part of the country’s commitments to climate change at the UN Climate Change Conference in Glasgow (COP26). From now until 2027, the Ministry of Environment and
Vietnam remains world’s biggest pepper exporter
HCMC – Despite pepper export volume tumbling due to China’s zero-Covid policy, global inflation and economic uncertainties in many countries, Vietnam has remained the world’s biggest pepper exporter this year. Data from the Vietnam Pepper Association (VPA) showed that the country had shipped over
Hanoi vice chair detained over Covid repatriation flights
HCMC – Ministry of Public Security (MPS) investigators have detained Chu Xuan Dung, vice chairman of the Hanoi City People’s Committee, on alleged charges of taking bribes in the Covid-19 repatriation flights case. Lieutenant General To An Xo, office chief and spokesperson of the MPS, told the
HCMC sees IIP rebounding strongly in 2022
HCMC – The index of industrial production (IIP) of HCMC in 2022 is estimated to expand 17.3% over 2021, indicating the city’s economic recovery is on track. The IPP of four key industries has grown nearly 20%, 2.6 percentage points higher than the overall growth of the industrial production
Vietnam ranks low in total workforce index ranking in 2022
HCMC – Vietnam is in 47th place among 60 labor markets worldwide in terms of the workforce index while ranking lowest among 11 nations in the Asia-Pacific region, according to ManpowerGroup’s total workforce index 2022 global analysis. The Top 10 global labor markets in 2022 comprise the United
Work on three key infrastructure projects to start in HCMC by year-end
HCMC – HCMC will break ground on three key traffic infrastructure projects by the end of this year to ease traffic congestion in the city, according to the HCMC Management Board of Investment and Construction of Traffic Projects. These three projects comprise a road linking Tran Quoc Hoan Street
HCMC to break ground on Tan Son Nhat terminal T3 this weekend
HCMC – The passenger terminal T3 project at the Tan Son Nhat International Airport in HCMC will get off the ground on December 25. The city has almost completed site clearance and compensation work and handed over some 14.7 hectares of cleared land to the Airports Corporation of Vietnam (ACV), the
Experts warn of real estate risk in 2023
HCMC – Experts of the Central Institute for Economic Management (CIEM) have forecast that the gloomy global economic picture will continue to affect the Vietnamese economy next year, especially the real estate market. Inflation, high interest rates, volatile foreign exchange rates, restrictions on
Foreign minister, other ministry officials face discipline over Covid repatriation flights
HCMC – The Party Central Committee’s Inspection Commission has requested the Politburo and the Secretariat of the Party Central Committee to consider disciplinary measures against Party Central Committee member, Secretary of the Party Civil Affairs Committee of the Foreign Ministry and Foreign