Permits to build a shipping container home

A working delegation of the Vietnam People’s Navy aboard Ship 20 of the Naval Region 3’s Brigade 172 (Photo: qdnd.vn) Hanoi (VNA) - Ship 20 of the Naval Region 3’s Brigade 172 anchored in Makassar, Sulawesi, Indonesia, on June 4 to participate in the 4th Multilateral Naval Exercise Komodo ( MNEK ), according to the Quan doi Nhan dan newspaper. The military exercise held by the Indonesian Navy will last until June 8, with the working delegation of the Vietnam People’s Navy (VPN) aboard the vessel expected to partake in a street parade, a multilateral drill at sea, and music-sport-food exchanges within its course. Earlier, Ship 20 – a Pohang-class corvette received from the Republic of Korea Navy in October 2018 – came to Malaysia’s Langkawi to attend the 16th International Maritime and Aerospace Exhibition ( LIMA ) 2023 from May 23-28. The trip, made at the invitation of Malaysian and Indonesian navies, aims to consolidate and strengthen the good friendship and … [Read more...] about Vietnamese naval ship joins naval exercise in Indonesia

The amended Housing Act lacks provisions on the life span of condominiums, which may cause problems for the authorities when it comes to renovating the buildings. The secretary of the Hanoi Party Committee, Dinh Tien Dung, suggested on May 5 that there should be an expiration date for the ownership of apartments. An old apartment building in Thanh Xuan Bac Ward of Thanh Xuan District. Photo: Thai San/The Hanoi Times Commenting on the amended Housing Law, he said the expiration date would make the Government responsible for maintaining and repairing deteriorating apartment buildings in time. "The Government is responsible for protecting people, and moving them out of dilapidated buildings is for their good," said Dung, who heads Hanoi's delegation to the National Assembly. Many people in Hanoi now live in degraded apartment buildings. There is a lot of pressure on the capital to relocate these people so that authorities can renovate the … [Read more...] about New apartment buildings must have life span: Hanoi Party Chief

Transactions at Vietcombank. — Photo courtesy of the bank The State Bank of Viet Nam (SBV) just allowed Vietcombank to raise its charter capital from VND47 trillion (US$2 billion) to VND55 trillion ($2.3 billion) by issuing shares to pay dividends from the remaining profits of 2019 and 2020. Previously, the bank’s 2022 Annual General Meeting of Shareholders approved the issuance of 856.5 million dividend stocks at a rate of 18.1 per cent. Once the issuance is completed, its charter capital will increase by nearly VND8.6 trillion to more than VND55.89 trillion, thereby surpassing Vietinbank and BIDV to become the second largest bank, after VPbank. Vietcombank said that the mobilised capital will be spent on expanding the business scale to meet the economy’s requirements, and investing in improving management and operation plans. The bank also plans to issue a maximum of nearly 2.8 billion shares to pay dividends from the remaining profit of 2021 and the remaining profit … [Read more...] about Vietcombank permitted to raise capital to $2.3 billion

At a conference on solutions to develop and promote investment in real estate for agricultural tourism in Vietnam on May 25 in Hanoi, an action programme was discussed to create motivation for agro-tourism and rural development. Legal synchronisation can unlock agro-tourism potential Organised by the Vietnam National Administration of Tourism and the Vietnam National Real Estate Association (VNREA), it was the first time that a large-scale event discussed such issues. Nguyen Van Khoi, chairman of VNREA, said that the development of agricultural tourism is gradually becoming a trend in rural areas, especially in agricultural economy countries like Vietnam. It not only benefits the industry but also contributes to increasing the value of the land, raising opportunities for economic development, and improving the lives of local people. “In order to increase the value of the land through the development of agricultural and rural tourism, a sustainable development … [Read more...] about Legal synchronisation can unlock agro-tourism potential

The most effective competitive advantage for Vietnam's economy is creating a favorable business investment environment free of legal barriers. Prime Minister Pham Minh Chinh has signed a decree to urge ministries and provinces/cities to boost administrative reforms and improve the investment environment to support local enterprises. Electronics production at Katolec Vietnam in Quang Minh Industrial Park, Hanoi. Photo: Pham Hung/The Hanoi Times "A conducive investment environment is a fundamental platform helping businesses operate smoothly and drive growth. This, in turn, promotes job creation and contributes to overall socio-economic development," said the decree. Vietnam has been trying to cut administrative regulations and compliance costs as part of its national digital transformation effort. As of May 2023, the country's total number of administrative procedures was 6,422, 376 fewer than the same period in 2020. This is expected to improve the … [Read more...] about PM urges greater efforts to accelerate administrative reforms

Mai celebrates the last night of the lunar year yachting on the Saigon River in January, 2023. Photo by VnExpress/Minh Tam Born to a father who served in the American marine corps and a Vietnamese immigrant mother, Mai, 32, felt she was different from others ever since she was a child. "Our names, our hair color, and our eye color were different," Mai told VnExpress as she recalled her and her siblings’ childhood in a small town an hour’s drive from San Diego, California, where the majority of residents were white. "We considered ourselves different from others the moment we stepped out of our houses." Hoping to help Mai and her brothers and sisters blend into the local community, her mother didn’t teach them Vietnamese or Vietnamese culture. Her family rarely watched Asian movies and only visited the area’s Little Saigon district once a year to visit her grandmother. Racism was a serious problem during Mai’s school days. Asian children were forced by other students … [Read more...] about Vietnamese-American woman returns to her roots

PM Pham Minh Chinh (R) and UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi at the meeting in Hanoi on June 5. (Photo: VNA) Hanoi (VNA) - Prime Minister Pham Minh Chinh received Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi of the United Arab Emirates (UAE) in Hanoi on June 5, calling on the UAE to work closely with the Vietnamese Ministry of Industry and Trade to soon finalise talks on the bilateral Comprehensive Economic Partnership Agreement (CEPA). The host leader hailed the two sides’ efforts to promote negotiations on the CEPA, especially when the two countries are celebrating the 30th founding anniversary of bilateral diplomatic relations in 2023. He affirmed Vietnam’s consistent foreign policy of independence, self-reliance, diversification and multilateralisation of external relations, and being a good friend, trustworthy partner, and responsible member of the international community. The country is also working to develop an … [Read more...] about PM calls for early finalisation of Comprehensive Economic Partnership Agreement with UAE

In early April, the Board of Directors at Nam Viet JSC, a seafood producer in the southern region, gave the nod to the decision on dissolving Nam Viet Real Estate Co., Ltd. This company, based in Long Xuyen city in the Mekong delta province of An Giang, was founded in March 2022 to operate in real estate. Real estate might not always prove a fertile venture At the inception, the company had $3.5 million in chartered capital, which was scaled down to around $391,300 in mid-June 2022 before terminating operation in the recent past. At the company’s 2022 general annual shareholders meeting in June, CEO Doan Toi told shareholders that the company owned land, and that they would unveil two real estate projects later in the year, and another two in 2023. Last year, Nam Viet set an ambitious pre-tax profit target of VND1 trillion ($43.4 million) compared to a mere $6.5 million pre-tax profit posted in 2021, and committed to maintaining its profit in the range of a … [Read more...] about Core business key as companies pull out of real estate

The fifth plenary session of the 15th National Assembly has discussed and approved a number of important draft bills, including three new amendments to regulations that have significant impacts on the tourism industry in Vietnam. These policies are expected to boost the recovery and development of the tourism sector. Martin Koerner - Chairman EuroCham Vietnam’s Tourism and Hospitality Sector Committee The first law is to extend the visa exemption duration from the current 15 days to 45 days for citizens of countries that currently can travel to Vietnam visa exempt, including France, Germany, Italy, Spain, the UK, Japan, South Korea, Norway, Finland, Denmark, and Sweden. This law aims to attract more tourists from these key markets and encourage them to stay longer and spend more here. The second law is to expand the list of countries eligible for e-visa from 46 to 80, including markets such as India, Brazil, Mexico, and Argentina. The e-visa allows visitors to apply … [Read more...] about The future of tourism in Vietnam new visa policies and beyond

Illustrative image (Photo: laodong.vn) Hanoi (VNA) - Although the aquaculture industry have been facing many challenges, it continues to receive support from the Government, Director in charge of communications of the Vietnam Association of Seafood Exporters and Producers ( VASEP ) Le Hang told Lao dong newspaper. According to Hang, the Prime Minister has demanded the State Bank of Vietnam effectively manage credit operations to ensure the suitable provision of credit capital, and continue to reduce interest rates to support businesses, especially those in aquatic export . The bank has been required to implement supportive and preferential policies, including proposing a credit package worth 10,000 billion VND (over 425.4 million USD) to support businesses operating in forestry and aquatic production and processing industries. Credit programmes should be prioritised for the fisheries sector, towards creating favourable conditions for businesses involved in the … [Read more...] about Government support helps aquaculture industry weather difficulties