HCM City (VNS/VNA) – The HCM City real estate market provides more housing projects and subsidises rentals to boost the market amid the COVID-19 pandemic. An announcement by the city Department of Construction in the first quarter said there were 3,137 housing products comprising apartments and townhouses in nine projects in the market. Notably, a six-star hotel and office project opposite Ben Thanh Market in District 1 is now putting for sale 214 apartments after years of delay because it is the first project in Vietnam with six basements, which caused some unique difficulties. Beside luxury properties, investors are also providing social housing on a large scale: 352 units at the Nam Phan project in Phu Huu ward, District 9, are available for sale. This is unique because normally social housing units rarely exceed 100 in any sale, according to the investors. Another project is in Thu Thiem ward -- Metropole Thu Thiem -- with 465 housing units. Besides providing more … [Read more...] about HCM City property developers offer more products
Emerging real estate markets
Association calls for consistent tax incentives for social housing developers
Hanoi (VNS/VNA) – Tax incentives for developers of social housing projects for lease should be made clear and consistent to encourage private investment in the segment, according to the HCM City Real Estate Association. The association said that there were inconsistencies among existing legal documents, resulting in a hesitancy to invest because it could take investors up to 20 years to recoup their money. According to Decree 100/2015 about social housing development and management, a reduction of 70 percent in value added tax and corporate income tax was being offered to developers of social housing projects for lease. However, according to the Law on Value Added Tax, the maximum reduction is only 20 percent. For example, Le Thanh Company was charged 5 percent in value added tax and 10 percent for corporate income tax for Le Thanh An Lac, a social housing project for lease in Binh Tan district, HCM City. The General Department of Taxation said the fees were based on the Law … [Read more...] about Association calls for consistent tax incentives for social housing developers
5G to fuel smart manufacturing in Vietnam
Automotive 5G manufacturing production is now a reality for German electric microcar company e.GO Mobile AG at its Aachen complex, enabled by 5G connectivity from Ericsson and Vodafone Germany. Ericsson is also teaming up with Telefónica Germany to enable 5G car production via a private network for Mercedes-Benz at the company’s Sindelfingen plant in southern Germany. The 5G network will enable Mercedes-Benz to boost flexibility and improve production precision and efficiency as industry digitalisation increasingly becomes a reality in car production. … [Read more...] about 5G to fuel smart manufacturing in Vietnam
COVID-19: First reporter infected, total rises to 188
Regarding to reports that a number of crew members on the US’s aircraft carrier Theodore Roosevelt tested positive for SARS-CoV- 2 after the vessel visited Vietnam, Vietnamese Ambassador to the US Ha Kim Ngoc said when the carrier docked at Da Nang port and during the visit, both the Vietnamese and US sides had worked together to implement disease preventive measures. The visit was a success, contributing to deepening the Vietnam-US comprehensive partnership and maintaining peace, stability and stability in the region. … [Read more...] about COVID-19: First reporter infected, total rises to 188
