Property at moon price

Land law adjustments aim to protect entities as well as the real estate market, photo Le Toan In a seminar to collect opinions from enterprises and experts regarding amendments to the Law on Land held last week in Ho Chi Minh City, Seck Yee Chung, a representative of the Vietnam Business Forum’s Trade and Investment Working Group, said that Article 35.d of the draft law provided that domestic companies only have the right to mortgages with their land and properties attached to the land at credit institutions licensed to operate in Vietnam. “This means that companies in Vietnam cannot mortgage their factory or land through foreign lenders, which creates great challenges for them to access competitive financing resources outside the country,” Chung said at the seminar, which was organised by the International Finance Corporation (IFC) and Ministry of Natural Resources and Environment (MoNRE). “Foreign lenders will look for security assets of Vietnamese companies to secure their … [Read more...] about Land law points further scrutinised

Indonesian Muslims pray during the start of the holy month of Ramadan at the Baiturrahman Mosque in Banda Aceh, Aceh province, on May 5 (Photo: AFP/VNA) Jakarta (VNA) – Muslims in Indonesia began fasting for the Ramadan festive month on May 6. Minister of Religious Affairs Lukman Hakim Saifuddin said the ministry had received nine reports on sightings of the moon in 102 observation points across the country to decide the beginning day of the most holy month of the year for Muslims in Indonesia. This decision was also considered at a meeting with representatives from the Supreme Court, the Meteorology, Climatology and Geophysics Agency (BMKG), the National Institute of Aeronautics and Space (LAPAN), the Geospatial Information Agency (BIG), and experts from Islamic organisations, according to the Minister. On May 5, Tarawih prayer ceremony was observed in all mosques before the start of the fasting month. Ahead of the festive month, the Indonesian government has … [Read more...] about Muslim followers in Indonesia start Ramadan fasting month

The energy transition in Vietnam is tied to the rapid growth of the economy, urbanisation, and industrialisation. We have seen the strong aspiration of the government to speed up the energy transition while meeting the requirements of economic development and the goal of becoming a high-income country by 2045. Energy transition is more seen as a potential engine for employment, and this trend will likely grow, helping to build support for renewables. John Rockhold, head of the Power and Energy Working Group under the Vietnam Business Forum Fossil energy sources are gradually being replaced by green and clean energy sources, reducing greenhouse gas emissions and combating climate change, while Vietnam is one of the first countries to renew its nationally determined contribution to the United Nations Framework Convention on Climate Change in 2020. The roadmap for the country’s transition process towards green and sustainable development will not only need to ensure … [Read more...] about Displaying readiness for the energy transition in Vietnam

The index closed 1.69 points higher after gaining 4.56 points on Thursday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 21.22% to VND9.44 trillion ($401.53 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 19 tickers gain. NVL of property developer Novaland Group hit ceiling price with a 6.7% rise. PDR of Phat Dat Real Estate Development rose 2.9%, followed by HDB of HDBank with a 2.3% gain. GVR of Vietnam Rubber Group and VHM of property giant Vinhomes both went up 2.1%. Ten blue chips fell. VCB of state-owned lender Vietcombank dropped 1.9% and MSN of conglomerate Masan Group went 1.3% lower. Foreign investors were net buyers to the tune of VND95.69 billion, mainly buying VHM and HPG of steelmaker Hoa Phat Group. The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was up 1.18% while the UPCoM-Index at the Unlisted Public Companies Market was stayed unchanged. … [Read more...] about VN-Index closes week with meager gain