Big profit system

Like so many others in Lam Dong Province and other rural areas of southern Vietnam, Toan saw the value of his agricultural land skyrocket in 2020-2021. He took it as an opportunity to start flipping properties for profit. But the market froze last year and short-term loans at high interest rates have now sunk him and many other farmers-turned-inexperienced-traders in impossible debt instead. The veteran coffee grower sold his land 7 km from the center of Di Linh District for several billions of dong in profit during a property price bubble in 2021. He then took out short-term, high-interest loans and used them plus money he made from his land sale to by several more plots he planned to resell for profit in what he thought would be at most 1-2 months. He said he thought he’d be able to sell some of the land back in even just a couple of weeks. But the properties still haven’t sold. In early 2022, Toan poured another VND15 billion ($635,600), including VND6 billion from another … [Read more...] about Debt buries farmers trying to flip property in frozen market

In an interview granted to the Vietnam News Agency, the official noted that Vietnam has focused on including the cultural content into the activities of high-ranking leaders during their overseas trips and the country’s reception of foreign leaders; and on promoting deep and wide integration in the fields of culture, science and education at international forums. According to him, Vietnam hosted significant regional and international conferences and events last year, including the 31st SEA Games and the Vietnam day program in the Republic of Korea, Austria and India. The country was elected to the Intergovernmental Committee of the UNESCO Convention for the Safeguarding of Intangible Cultural Heritage for the 2022-2026 term with the highest number of votes. The first official visit to Vietnam by UNESCO Director-General Audrey Azoulay was a highlight, putting the country, its culture and people on the radar of international media, Ngoc said. The guest said she was impressed by … [Read more...] about Cultural diplomacy raises Vietnam’s position worldwide

Decreasing demand for apartments in the region is also forecast to continue through at least the middle of the year. But it may begin to gradually rise by the last quarter of 2023 as legal bottlenecks and obstacles to credit are slated to be at least partially removed by the government, according to DKRA real estate consultants. DKRA Vietnam deputy R&D director Vo Hong Thang said apartment market liquidity, this year, would concentrate in affordable housing projects with prices of below VND50 million ($2,118) per square meter in HCMC and less than VND35 million per square meter in Binh Duong. Such social housing projects promise to be a ray of light in the otherwise gloomy 2023 market, he said, while adding the caveat that supply would still be limited. According to Thang, businesses are gradually supplying fewer high-priced homes and more affordable apartments and social housing units this year. He said this trend may last until 2025, with new supply focusing on the city’s … [Read more...] about Apartment market to continue slumping this year

An ailing woman in the northern province of Bac Giang is calling for community support to save her two children who are both struggling with leukaemia. Ngo Thi Nga, 32, from Lang Giang District’s Tien Luc Commune has been living with thyroid cancer. However, she has suspended her treatment for many months due to the family’s financial difficulties. According to Nga, in 2014, her eldest daughter Nguyen Thuy Ngan faced consecutive high fevers. After being taken to a hospital in Hanoi, she was diagnosed with leukaemia. Nga and her children Ngan fainted in her class several times and then had to suspend her studies for treatment. In 2016, her second child Nguyen Trong Khanh, three years old, faced the same symptoms as Ngan and was also diagnosed with leukaemia. Nga burst into tears after receiving the news from doctors. After giving birth to the third child Nguyen Trong Khoi in 2020, Nga felt tired and had fevers. Doctors said that she had developed thyroid … [Read more...] about Ailing woman seeks help for children facing leukaemia

Gia Lai is an ideal destination for travelers wanting to explore the wild nature and the unique culture of the Central Hughlands ethnic groups who are known for their gong heritage. When visiting Gia Lai, you do not need to go far to find beautiful scenery. Right in its provincial capital, Pleiku, you can find scenic Bien Ho (Sea Lake), Bien Ho Che (Tea Sea Lake), Chu Dang Ya and Ham Rong volcanoes and Chu mountain. All you need is a motorbike to drive around in Pleiku in the sun and wind of the Central Highlands to reach the best sightseeing places in town. You can enjoy the gorgeous view of Bien Ho with its cool and clear air or wander in immense green tea hills in Bien Ho Che. You can also see beautiful wild sunflowers dyeing yellow the sides of old volcanoes which have slept for millions of years, or enjoy the wild and dreamy beauty of rubber forests in their season of changing leaves. For those who love adventurous trips, Kon Chu Rang and Kon Ka Kinh (an ASEAN heritage park) … [Read more...] about Gia Lai – Ideal place for travelers wanting to explore wild nature

Remittance flows into Viet Nam approximated $19 billion in 2022. — Photo baotintuc.vn Viet Nam remains one of the 10 countries receiving the most remittances in the world, according to the recent Migration and Development Brief by the World Bank and the Global Knowledge Partnership on Migration and Development (KNOMAD). Despite the COVID-19 pandemic’s major impacts on the global economy over the last two years and growing inflation in many countries, remittance flows into Viet Nam remained relatively stable compared to previous years, the report noted. Total remittances to Viet Nam increased by nearly 5 per cent in 2022 and may go up 3.6-4.5 per cent in the following years after growing 5 per cent in 2021, according to statistics of WB and KNOMAD. Last year, the value rose about US$1 billion to approximate $19 billion, making the country one of the three biggest recipients in the Asia-Pacific and among the top 10 globally in terms of remittances. Some banks perceived that … [Read more...] about Viet Nam among world’s 10 biggest recipients of remittances

Employees of HCM City Securities Corporation (HSC). The market's uptrend in the near future may slow down and the risk of correction is increasing. — Photo HSC The market's uptrend in the near future may slow down and the risk of correction is increasing, brokerages have said. The market's gaining momentum lingered in the first session of the Year of the Cat, said Viet Dragon Securities Co. However, the uptrend somewhat slowed down before the profit-taking supply, as shown by the Shooting Star candle. On the Ho Chi Minh Stock Exchange, the VN-Index gained 0.81 per cent, to close Friday at 1,117.10 points. On the Ha Noi Stock Exchange, the HNX-Index rose 0.40 per cent to close Friday at 220.76 points. “Market still remained in green at the end of the session, showing that the pressure of supply is not great. It is expected that the market will temporarily step back in the next session to find a balance after the recent rise,” said Viet Dragon Securities Co. “Therefore, … [Read more...] about Market’s uptrend may slow down in the near future