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On behalf of the real estate enterprises, Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HOREA), said that compared to the previous year, there was an additional petition of Gamuda Land Joint Stock Company. The petition states that while waiting for the Prime Minister to decide on a VND514-billion deduction following the recommendations of the Government Inspectorate, over the past time, construction investment and business activities of the company have been stagnant, affecting the reputation and brand of this company in 10 years of operation in Vietnam. As for the matter of social housing, Mr. Le Huu Nghia, CEO of real estate developer Le Thanh, said that they were considering whether to develop social housing again. Because of too many difficult procedures, many people advised him to play safe by switching to develop commercial real estate. At the Le Thanh Tan Kien social housing project in Binh Chanh District, although the HCMC People's Committee had directly instructed to remove obstacles, after three years of implementing the project, now it backs to square one. Although the regulation for the processing time of the application by authorities is 215 days, in fact, the processing of the application can take a lot longer than that because the application must be transferred between departments and districts. Even a document from the urban management office to the district People's Committee takes several months. Moreover, although the social housing projects are invested by enterprises from start to finish, they are audited as projects using capital from the State budget. Meanwhile, the auditors are too strict. They slap them with high fines on petty mistakes, discouraging investors, Mr. Le Huu Nghia explained. Le Thanh Company is one of 20 enterprises that have petitioned the city through the summary of HOREA. This list shows that many petitions had been raised by investors at meetings with the city leaders in the past years, …

[Read more...] about HCMC resolves difficulties for real estate to boost economic development

Prof. Dr. Andreas Stoffers - Country director, Vietnam The Friedrich Naumann Foundation for Freedom The United Kingdom is an important trading partner of Vietnam. In 2020, trade turnover between the two countries amounted to $6.6 billion. With $5.8 billion in exports, Vietnam’s trade balance was clearly positive, which also underlines the country’s strong interest in reaching an amicable agreement with the UK. In recent years, despite the uncertainties associated with Brexit, the growth of trade relations has been unbroken, averaging 12.1 per cent per annum in 2011-2019. The trade relations between the EU and Vietnam are naturally greater given the fact that the EU is the world’s largest market. In 2019, the EU was the second-most important overseas market for Vietnamese products with a total trade volume of $56.45 billion, of which Vietnam’s exports accounted for two-thirds ($41.55 billion). This is 16 per cent of the country’s total export volume. In 2020, exports to the EU increased to $34.8 billion, and imports to $14.5 billion. Vietnam benefits significantly more from bilateral economic relations than the EU. The continuous surplus Vietnam enjoys in its bilateral trade relations with the EU has been instrumental in offsetting Vietnam’s huge trade deficits with China and South Korea. Vietnam exports mainly electronics, footwear, clothing and textiles, coffee, seafood, and furniture. The most important goods of EU exports to Vietnam are high-tech products including boilers, machinery and mechanical products, electrical machinery and equipment, pharmaceuticals, and a very limited number of motor vehicles. The EVFTA opens many opportunities for producers and traders on both sides, including small- and medium-sized enterprises. The EVFTA is of course one of the most modern and far-reaching agreements of its kind. It plays an important role in promoting trade liberalisation between Vietnam and the EU. Combined with the new Law on Investment which …

[Read more...] about Added trade potential for Vietnam with UK-EU deals

Most of the newly-detected patients tested positive for the SARS-CoV-2 virus after coming into close contact with COVID-19 patients. Six of the cases were recorded in Hai Duong’s Kim Thanh district, a new coronavirus hotspot in the country. The virus has spread to all 12 cities and districts in Hai Duong province, with 665 cases confirmed, since it recurred a month ago. Elsewhere, the epidemic has been brought under control in Ho Chi Minh City, Hanoi capital, Hai Phong city as well as 12 other localities, with no new cases detected during the past few days. Bac Lieu province in the Mekong Delta reported an infection in the community on February 28 and local authorities are awaiting confirmation from the Ho Chi Minh City Pasteur Institute. The same day, the Ministry of Health announced four imported cases in Tay Ninh and Dong Thap provinces in southern Vietnam. Thirty two patients were also discharged from hospital on the same day after making a full recovery from the disease. The number of quarantined people who had contact with COVID-19 patients or returned from epidemic hit countries has also fallen to 63,000. Among active cases, an elderly patient in Da Nang city, central Vietnam, is in critical condition and has been relying on ECMO, a sophisticated therapy to save patients in critical condition. The patient has suffered from hypertension and diabetes for years. …

[Read more...] about COVID-19: Vietnam records 12 more community cases on Feb. 28