New home owner grant

The central bank is seeking feedback on its draft circular that sets stricter conditions for real estate loans as a measure to mitigate speculation and risk of a bubble burst. If projects have not yet become legally eligible, there is a high possibility of customers and owners canceling the contract over the failure in acquiring needed permits. This will complicate commercial banks’ management of capital and potentially pose risks to the economy, the central bank argues. Le Hoang Chau, chairman of the Ho Chi Minh City Real Estate Association (HoREA), deemed the move "necessary", noting that loans are still allowed for projects that meet legal requirements. "The draft not only helps protect customers’ rights and benefits, but also build a healthier real estate market," Chau said. Tran Khanh Quang, director of property developer Viet An Hoa, estimated that around 20 percent of homebuyers pay their deposits with loans. The approval process for these loans have been tightened in … [Read more...] about No home loans against legally incomplete projects: central bank

Le Trung Kien, director of the HEZA, awarded an investment certificate to Tien Thanh IZ’s infrastructure development project in Tien Lang district According to Pham Huu Quang Huy, director of the Investment Management Department at the HEZA, in the first half of this year, the city’s industrial and economic zones (IZs and EZs) allured 21 new foreign-invested projects, and 18 existing foreign-invested projects asked for supplemental capital. New foreign direct investment (FDI) volume reached $755.7 million, equal to 56.2 per cent on-year. Up to now, the city’s IZs and EZs attracted 438 foreign-invested projects valued at $22.07 billion in total capital and 195 local ones worth $12.57 billion. Tien Thanh Industrial Zone At the conference, Le Trung Kien, director of the HEZA, awarded an investment registration certificate to Tien Thanh IZ’s infrastructure development based in Tien Lang district. He also granted new investment certificates to three new projects … [Read more...] about Haiphong hails a string of new projects

A VND4.5-trillion (US$193.6 million) industrial park is set to be built later this year in the northern Vietnamese city of Hai Phong. The Hai Phong Economic Zone Authority (HEZA) organized a ceremony on Wednesday afternoon to grant an investment registration certificate for the construction of Tien Thanh Industrial Park in Tien Lang District. Construction of the new industrial park, expected to cost more than VND4.5 trillion, will begin later this year on an area of 410.46 hectares. The industrial park is expected to be put into operation before 2025. Speaking at the certificate handover ceremony, HEZA head Le Trung Kien stressed its determination in ensuring the project’s progress by creating favorable conditions for the developer. Once completed, Tien Thanh Industrial Park will increase the number of industrial parks in Hai Phong to 15 parks which span a total of 6,074.75 hectares. In the first six months of 2022, Hai Phong’s industrial parks and economic zones have … [Read more...] about Northern Vietnamese city to establish new US$193.6mn industrial park

The new template passports aim to prevent the creation of fake passports. The Ministry of Public Security (MPS) started issuing new template passports for Vietnamese citizens today [July 1], according to the Immigration Department of Vietnam. The move is aimed at implementing Circular 73/2021/TT-BCA of the MPS on passport specimens. Each page of the new passport will be printed with renowned Vietnamese scenery and cultural heritage, namely Ha Long Bay, Hung King Temple, Hue Imperial Citadel, Hoi An Ancient Town, My Son Sanctuary, Nha Rong Habour, Lung Cu Flag Tower, and among others. This helps promote the image of Vietnam and uphold the country’s tradition, history, geography, and culture. The new passport is expected to ensure technical safety and prevent counterfeiting. Photo: VGP Moreover, the passport with the new template is expected to ensure technical safety and prevent passport forging. Vietnamese citizens can access public administration … [Read more...] about Vietnam issues new template passports for citizens from July 1

Danang is now ripe for 5-star hospitality success The 16th edition of the Asian Route Development Forum (Routes Asia 2022) was held in Danang on June 6 for the first time. Routes Asia brings together policymakers from the world’s leading airlines, airports, destinations and aviation suppliers, and this time around the event wants to realise action plans and accelerate Asia-Pacific economic recovery. “We see this as a significant opportunity to exchange information and seek partnership, as well as to invest in the development of aviation, tourism, and logistics,” Chairman of Danang People’s Committee Le Trung Chinh stated at the event. “This is also an opportunity for the city to showcase our natural beauty, people, and socioeconomic achievements and the tourist industry in particular, to investors and visitors from across the world.” According to research by Savills World Research last year, the coastal city is one of the leading destinations for major international brands in … [Read more...] about Second-home market blossoms in Danang

Wood products to be exported to the EU. — VNA/VNS Photo HÀ NỘI — Việt Nam is set to grant a licence under the Voluntary Partnership Agreement/FAO-EU Forest Law Enforcement, Governance and Trade (FLEGT) Programme to wood exports in 2025, after it completes preparing necessary conditions, reported a Government official familiar with the sector. Bùi Chính Nghĩa, deputy general director of the Vietnam Administration of Forestry, reported the new developments at a June 17 workshop held by the administration, the Vietnam Timber and Forest Product Association, and the Association of Handicraft and Wood Industry of HCM City (HAWA). He pointed out that despite an annual double-digit growth rate, the country’s wood industry is still facing numerous challenges in 2022. Apart from the pandemic, escalating political tensions have caused more challenges to supply chains, soaring logistics costs and material prices have resulted in higher input costs. Inflation in key export markets … [Read more...] about Việt Nam to grant FLEGT licence to wood exports in 2025

by Minh Phương & Bảo Ngọc A photographer living in Hà Nội has amassed a collection of hundreds of cameras, books, and other photographic artefacts at a gallery he has established in his own home. Phạm Công Thắng is well-known in the photographic field as an artist who has won several awards at home and abroad. In 2021, he established the museum named Photographic Memories in his own house, inspired by the notion of a private area for photography enthusiasts and photojournalists to exchange and connect. Photographer Phạm Công Thắng, owner of the Photographic Memories Museum.— VNA/VNS Photo The photographer told Việt Nam News that he sees cameras as more than just a means to capture memories. But each one also tells a story about its owner. "It seemed to me that photographers' children may be unable to preserve their cameras after their parents' death. Rather than just keeping cameras, I decided to create a place where I could also preserve the stories … [Read more...] about Photographer creates camera museum at home

Phùng Ngọc Phong at his garage. Photo dantri.com.vn HCM CITY — Driving around districts 1 and 5 brings back a lot of memories to Phùng Ngọc Phong, the 44-year-old director of a private company in Bình Thạnh District, HCM City. Despite his car and well-to-do looks, he grew up on these streets, doing what he had to do to survive. "From a street kid, I now have a family with my wife and children. I have bought a house, a car, with my self-earned money. At this moment, I feel so happy and don't need anything," the director of Phùng Nguyễn Cao Tốc Co., Ltd told Dân Trí online newspaper. Born in a family in HCM City. Phong's parents left HCM City for Bình Dương Province to earn a living. Then they took him to Cambodia to find other jobs. In the vague memory of an 8-year-old boy, Phong remembered his family living with another group of Vietnamese people in Cambodia where his parents did many jobs. He stayed with his father, and sometimes with his mother … [Read more...] about Changing lanes: from homeless HCMC youth to successful business owner

The Vietnamese and Cambodian people have shared ups and downs in history. They have given impartial support to each other’s national salvation cause for freedom and happiness of the two peoples and prosperity of the two countries. One the occasion of the 55th anniversary of the Vietnam-Cambodia diplomatic relations (June 24, 1967 – 2022), the People’s Army Newspaper introduces articles looking back upon the special historical period of the relationship of the two countries. Foundation of a good relationship Fifty five years ago, on June 24, 1967, Vietnam and Cambodia officially set up their diplomatic relationship. This important event marked a new page of the bilateral ties. It must be put into the context at that time to see the special significance of the establishment of the bilateral diplomatic ties as well as the strategic importance of Vietnam-Cambodia relations. Vietnam and Cambodia are neighboring countries with long-standing traditional relationship. The relations … [Read more...] about Part 1: A new historical page of the relationship between the two neighboring countries

Secretary of Party Committee of Dong Nai Province Nguyen Hong Linh congratulates Major General Nguyen Sy Quang with new position of Director of the Provincial Department of Public Security of Dong Nai. Under the authorization of the Minister of Public Security, Lieutenant General Nguyen Duy Ngoc, Deputy Minister of Public Security granted the decision of appointing Major General Nguyen Sy Quang, Deputy Director of HCMC Department of Public Security to hold the position of Director of the Provincial Department of Public Security of Dong Nai, replacing Major-General Vu Hong Van holding new position. Major General Nguyen Sy Quang was born in 1970 in Thanh Chuong District of Nghe An Province. He got a Master in Law, Bachelor in Investigation and Security. From October, 1988 to March, 2009, he joined the Vietnam People's Police Force and regular student at People’s Security University. After graduation, Mr. Quang was assigned for working in the HCMC Department of Public Security, … [Read more...] about Major Gen. Nguyen Sy Quang – new Director of Dong Nai Public Security Department