Vietnam’s real estate race is becoming hotter than ever with the growing attention of many domestic and foreign investors and a record amount of investment in recent years. JLL has observed that hundreds of millions of dollars in FDI are ready to be poured into Vietnam’s real estate market. The tourism industry, meanwhile, saw a record 15.5 million international visitors and 80 million domestic tourists in 2018, and aims to welcome 20 million foreign visitors by 2020. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (FTA) together with other FTAs will help balance any negative effects that may arise from the US-China trade war. Vietnam is also focusing on investment in infrastructure, including 2,000 km of new highways, metro lines in Hanoi and Ho Chi Minh City, and many airport expansion and construction projects. It is therefore not surprising that investors and real estate developers are … [Read more...] about JLL: 5 trends in real estate in 2019
80 million dollar house
The Ministry of Public Security has pressed charges against Tai, Vice Chairman of the city between 2011 and 2015, saying he violating banking regulations as well as regulations on managing and using state property, causing loss and waste. Three other officials are also facing the same charges: Nguyen Hoai Nam, former secretary of District 2’s Party unit; Dao Anh Kiet, former director of the city’s department of natural resources and environment; and Truong Van Ut, former deputy head of the land, natural resources and environment office under the department. In May, government inspectors concluded that Tai, 66, holds the main responsibility for the city’s decision to lease out a land lot at 8-12 Le Duan Street in District 1 without organizing any auction, causing million-dollar losses to the state budget. The land lot of nearly 6,000 square yards on Le Duan Street in District 1, Ho Chi Minh City. Photo by VnExpress/Nhu Quynh The land lot of nearly 5,000 … [Read more...] about Former senior HCMC official arrested for public land sale violations
The Hanoitimes - Men’s Journal has announced its list of most remarkable travel destinations where your dollar goes far. Vietnam has been ranked fourth among the most remarkable travel destinations where your dollar goes far, according to a list released by Men’s Journal, a US monthly men’s lifestyle magazine. Vietnam. Photo: Getty Images Men’s Journal has some words of advice for travelers that a week in any Hanoi or Ho Chi Minh City luxe hotel will cost you the same a night in any western capital. And those are the costlier parts, you can cruise along on your motorbike rentals or visit the stunning rice paddies for next to pennies, in addition to eating some of the best, most flavorful food in the world. A night in a five-star Ha Long Bay hotel is less than US$100, as is a stay on the white-sand, palm-dotted island of Phu Quoc. Hungary tops the list, followed by Morocco, Berlin (Germany), Vietnam, South Africa, Colombia, Turkey, Mexico. Earlier, … [Read more...] about Vietnam among world’s most remarkable travel destinations
The consumer price index jumped by 2.22 per cent in June and 4.6 per cent from a year earlier, a seven-year high, the General Statistics Office (GSO) reported. — Photo thoibaonganhang.vn The rest of this year is likely to be a difficult period for the economy meaning challenges for the Government in achieving the targets set for the year. The problems include a weakening of the dong against the dollar and rising inflation, interest rates and public debt, and the Government will be walking a tightrope in terms of monetary policy. The consumer price index jumped by 2.22 per cent in June and 4.6 per cent from a year earlier, a seven-year high, the General Statistics Office (GSO) reported. Inflation in the first six months of the year was up to 3.29 per cent. GSO experts attributed the sharp increase in inflation in recent months to the rise in prices of several major products and services. Of 11 major categories of goods and services, nine saw prices increasing. Transportation … [Read more...] about Trillion đồng question: to tighten monetary policy or not?
Government inspectors have ordered Ho Chi Minh City to revoke a piece of public land at a prime location, saying violations in the transaction had caused million-dollar losses to the state budget. The land lot of nearly 5,000 square meters (nearly 6,000 square yards) at 8-12 Le Duan Street in District 1 was designated to be developed into a five-star hotel and commercial center complex in 2007. But the city officials had condoned misconducts during the execution of the plan, said the Government Inspectorate. Inspectors said HCMC authorities should have carried out a bidding process to select a prestigious and experienced investor, but they instead formed a joint stock company in 2010 to carry out the project, following requests from the Ministry of Industry and Trade, whose units were renting the lot. The Ho Chi Minh City Housing Management and Trading Company held a 50 percent share in this new company, Lavenue Investment, and the trade ministry’s units the rest. After two … [Read more...] about HCMC gov’t in hot seat for violations in selling golden public land