A view of District 2, part of the newly established Thủ Đức City in HCM City. City authorities are reviewing all housing projects to create a “more transparent, fair and competitive business environment”. — Photo sggp.org.vn HCM CITY — The chairman of the HCM City People Committee has pledged to review all housing projects in the city and work out solutions to create a “more transparent, fair and competitive business environment”. Speaking at an annual meeting with the HCM City Real Estate Association (HoREA) last weekend (Feb 27), Nguyễn Thành Phong said the city would work with agencies to address delays in “the issuance of investment policy approval for developers and ownership certificates for homebuyers”. Lê Hoàng Châu, chairman of HoREA, said over the past years, the association has submitted numerous petitions and proposals to the Government and local authorities to resolve problems related to investment and construction. Businesses have frquently petitioned the People’s Committee to speed up procedures for investment approval for commercial housing projects, he added. In 2020 alone, 61 commercial housing projects were delayed because the land they were allotted was a mix of plots with various purposes and uses, he said. “A number of projects being built on public lands were halted and are being reviewed for compliance,” Châu added. According to a report from the Department of Construction, procedures for investment approval of commercial housing projects take up to 247 working days, or 50 weeks, excluding 14 public holidays, which is too long. The association has also urged city authorities to speed up the issuance of home ownership certificates for more than 30,402 housing units in 163 projects in the city. “The Department of Natural Resources and Environment needs to work with the Department of Finance, the City Land Price Appraisal Council and other agencies to determine land-use fees for the housing projects to speed …
Pipelines for water supply
VIETNAM BUSINESS NEWS FEB. 28
Export value skyrockets over Lunar New Year Vietnam's export turnover during this Lunar New Year saw breakthrough growth, occupying nearly half of the total export-import turnover. The latest data published by the General Department of Vietnam Customs showed that export volume over the seven days (February 10-16) of the Lunar New Year holiday reached $730 million, rising 79 per cent on-year and accounting for about 44 per cent of the $1.67 billion export-import turnover. The main export articles include mobile devices and components valued at $332 million; computer and electronic products worth $251 million. The two categories accounted for 80 per cent of the total export value. This Lunar New Year saw exports going to 80 markets, seven more than last year. China continues to be the leading export market with a value of $189 million (26 per cent). Following are the US ($152 million), South Korea ($67 million), and Hong Kong ($57 million). According to statistics from the General Department of Vietnam Customs, there were 960 import-export businesses, up 59 per cent on-year. Nevertheless, importers still outnumbered exporters with an import turnover of $940 million, up 37 per cent on-year. Thus, from early this year to February 16, the total export-import turnover reached $74.51 billion, up 31 per cent on-year. Of this, exports hit $38.57 billion, up 36 per cent on-year while imports reached $35.94 billion, up 26 per cent, resulting in a trade surplus of $2.63 billion. Drug market forecast to grow by 15 per cent in 2021 The pharmaceutical industry grew by just 2.8 per cent last year, much lower than its average 11.8 per cent growth in the last five years. It is expected to recover and grow by 15 per cent this year, mainly due to a rapidly ageing population and increasing incomes, analysts at SSI Securities Corporation said. Last year there was a short supply of active pharmaceutical ingredients from China and India due to social distancing and …
VIETNAM BUSINESS NEWS FEBRUARY 15
VIETNAM BUSINESS NEWS Rice exports enjoy opportunities for breakthrough in 2021 High hopes are pinned on Vietnam’s rice exports in 2021 when major export markets such as the Philippines and Africa continue to sign contracts to buy rice from Vietnam, while many others have great demand for fragrant rice and sticky rice – which are advantageous staples of Vietnamese enterprises. The bilateral and multilateral free trade agreements between Vietnam and other countries such as the EU-Vietnam and the UK-Vietnam FTAs with preferential tariffs would create favourable conditions for Vietnamese rice to compete with that from rival countries, the Vietnam Food Association said. According to the Vietnamese Trade Counsellor in the UK Nguyen Canh Cuong, rice shipments to the country this year will sharply rise against 2020. He added more UK firms will purchase Vietnamese rice under the UK-Vietnam FTA, creating a chance for Vietnamese rice to expand its market share in the UK this year. In 2019, rice exports from Vietnam to the UK had a leap forward with a turnover growth of 376 percent. That meant the UK has great potential as a rice export market for Vietnam. In order to tap into the advantages under FTAs, rice export giants such as Intimex JSC, Loc Troi Group, VRICE Co, Trung An High Technology Agriculture JSC are planning to seek new customers in markets where Vietnam had signed FTAs, especially in the UK. The Ministry of Industry and Trade said it would provide rice export firms with information about the market demand situation in a timely manner while implementing trade promotion activities to help Vietnamese rice exporters better access customers. Detailed information about the regulations and barriers under these FTAs’ commitments will be also offered by the ministry so that businesses can improve their understanding and draw up suitable business plans. As part of its efforts to facilitate Vietnam's rice exports, the VAF has built up online sales …
