Injuring many workers

A cross-functional team will be set up to work on improving the prospects of the local real estate market. Prime Minister Pham Minh Chinh has issued a document on solving real estate market problems and improving its prospects. An affordable housing project in Dong Anh District's Thang Long Industrial Park. Photo: Pham Hung/The Hanoi Times The document, numbered 178/TTg-CN, aligns with Resolution 33/NQ-CP dated March 11, 2023, which provides solutions to develop a healthy, transparent, and sustainable real estate sector. Under the latest document, the Ministry of Construction, the Ministry of Treasury, the State Bank of Vietnam, and related agencies will set up a working group and work with developers to resolve existing problems and increase confidence in the property market. The Prime Minister has asked the Ministry of Construction to finalize the plan to build one million affordable houses for low-income buyers and workers in industrial parks in … [Read more...] about New regulation in place to boost Vietnam’s real estate market

During an event held by the provincial People’s Committee on March 25, Deputy PM Khai hailed the success of the province's industrial - urban - service model and urged Binh Duong to continue pursuing rapid, harmonious, inclusive and sustainable development, leaving no one behind. Chairman of the provincial People’s Committee Vo Van Minh said industry - trade - services now account for nearly 97% of the local economy. At present, Binh Duong is home to 29 concentrated industrial parks with a total land area of nearly 13,000 ha and an average occupancy rate of over 90%. During the 1997-2022 period, its gross domestic product expanded by 10.86% annually. On the occasion, the provincial People’s Committee handed over investment certificates to nearly 10 domestic and foreign companies. Representatives from Vietnam’s Becamex IDC Corporation and the investor of the Vietnam - Singapore Industrial Park (VSIP) joint venture signed deals with nine provinces - Tay Ninh, Binh Thuan, Thai … [Read more...] about Binh Duong advised to switch to smart industrial – urban – service model

Property developers should focus on social housing and workers’ housing instead of high-end properties, according to the Prime Minister, who added that "real estate companies should restructure their products and market segments to lower housing and land prices." PM Chinh asked ministries to clear away legal obstacles facing property projects, especially those that issue corporate bonds, use bank loans, or mobilize capital from home buyers. He urged the State Bank of Vietnam to quickly implement an approved credit package of VND120 trillion (US$5.1 billion) for the development of social housing and housing projects for workers, and the renovation of old apartment blocks. Under the package, loan interest rates for buyers or developers of social housing projects and worker housing projects will be 1.5-2% lower than average bank lending rates. The central bank has also been tasked with lowering interest rates at commercial banks. The increasing costs of land, materials, labor, … [Read more...] about Prime Minister calls for more affordable housing

A social housing project (Photo: VNA) Hanoi – Prime Minister Pham Minh Chinh has just signed a document requesting more efforts to promote the development of and remove obstacles to the real estate market. He asked ministries, agencies and People’s Committees of provinces and centrally-run cities to strictly follow the Government’s resolution dated March 11, 2023 on several measures to solve difficulties for and promote the safe, healthy and sustainable development of the market. He also urged the MoC to soon complete a project on building at least one million social housing apartments for low-income earners and workers in industrial parks in the 2021-2030 period. By VNA … [Read more...] about PM orders close coordination to remove obstables to property market

Han River runs through the central city of Da Nang.  (Photo: VNA) Da Nang (VNA) – The People's Council of Da Nang city has just approved a resolution on the Da Nang city Master Plan for the 2021-2030 period, with a vision to 2050 which will be soon submitted to the government for approval. Accordingly, by 2030, the city expects to achieve an average annual economic growth rate of 9.5-10% and a gross regional domestic product (GRDP) per capita of about 200-220 million VND (8,500 – 9,350 USD) per person. By 2030, the city’s economic development will focus on three pillars, namely tourism, knowledge-based economy, and service centre. Under the master plan, the city also strives to have annual budget revenue increase of 9-11%, and total investment capital for social development by 11-12%. Da Nang city expects to have about 32,000-35,000 jobs created yearly by 2030. (Photo: VNA) The city targets to mobilise about 800 trillion VND in investment capital for social … [Read more...] about Da Nang targets annual growth of 9.5-10% by 2030

With his efforts, Phu has built special community tourism products, contributing to preserving ethnic cultural identity. Born in A Roang commune, A Luoi district, Thua Thien Hue province, Vien Dang Phu is attached to his ethnic group’s songs and dances, familiar with weaving loom sound, and fascinated with local dishes made from ingredients from forest. He has dreamed of raising local people’s living standard and preserving and spreading special cultural values of the ethnic groups. According to Vien Dang Phu, A Roang is a locality bordering A Luoi district and the majority of the population are Ta Oi ethnic people. Since the locality has many traditional cultural features and beautiful natural scenery, it has gradually attracted more tourists. Phu considered it good news for local tourism sector, but he had worries that cultural identity could be affected. Therefore, after graduating from university in Da Nang city, he decided to return to his hometown to develop community … [Read more...] about Vien Dang Phu and his dream of developing local tourism

A social housing block in Ninh Thuan Province. — VNA/VNS Photo Cong Thu The Government has recently urged ministries to take measures to help the realty sector get back on track and sustain its healthy growth. The Ministry of Construction (MOC), the Ministry of Finance (MOF), and the State Bank of Vietnam (SBV) have been urged to make a joint effort to support realty firms facing legal entanglements, especially those involved in corporate bond issuances and bank mortgages. Realty firms have been called to focus more on developing low-end segments to increase the availability of affordable housing for low-income homebuyers and workers. MOC has been requested to speed up the drafting of 'The scheme of one million social housing for low-income homebuyers and workers between 2021 and 2030' and submit the scheme to the Prime Minister for approval no later than March. In addition to the scheme, the ministry has been tasked with executing Decision No.1435, which calls for the … [Read more...] about Government calls for broad-based measures to help realty sector