Vietnam property market

Private organisations will be encouraged to provide credit information service in Vietnam to improve transparency in the credit information market,... Vietnam’s market for credit information-related provision has been considered to be underdeveloped with little competition. — Photo investopedia.com Private organisations will be encouraged to provide credit information service in Vietnam to improve transparency in the credit information market, under a new draft decree. The draft decree replacing Decree 10/2010/ND-CP was opened for public comments by the State Bank of Vietnam (SBV). Vietnam’s market for credit information is considered underdeveloped and lacks competition. To date, only two companies are eligible to provide credit information in Vietnam, including the Credit Information Centre (CIC) under the management of the central bank and Vietnam Credit Information Joint Stock Company (PCB) – a joint venture founded by 11 local banks. Demand for … [Read more...] about Private firms in Vietnam encouraged to join credit information market

Deputy Minister of Science and Technology Tran Van Tung speaks at the event (Source: VNA) Singapore (VNA) – The “Techfest Vietnam in Singapore” took place in Singapore on November 11 to introduce the Techfest Vietnam festival in 2019 and Vietnam’s innovative startup ecosystem to international partners. Addressing the event, Deputy Minister of Science and Technology Tran Van Tung highlighted the vital role played by innovation and startup in promoting economic growth, addressing difficulties and challenges, and creating jobs for labourers. Vietnam has paid special attention to promoting the development of innovative startup ecosystem in policy, infrastructure, financial institution and support service as well. Vietnam’s startup ecosystem has recorded a strong development in the last three years, attracting nearly 900 million USD in 2018 alone, three times higher than that in 2017. According to Tung, Singapore is one of the countries with the most … [Read more...] about Vietnam promotes innovative startup ecosystem in Singapore

  FLC Faros Construction Corp's chairman plans to cut his ownership in the enterprise by 12.34 per cent to 55 per cent by October 4, 2019. — Photo flcfaros.vn HÀ NỘI — FLC Faros Construction Corporation (FLC Faros)’s chairman wants to offload his 12.34 per cent stake in the company. Billionaire Trịnh Văn Quyết, also known as the chairman of the property developer FLC Group, plans to sell 70 million shares at FLC Faros. If the deal is done, he will cut his ownership in the building contractor from 67.34 per cent of charter capital to 55 per cent. His holding will fall from more than 382.2 million shares to more than 312.2 million shares after the deal. The shares will be sold through put-through transactions, which is an optional contract reached between the shareholder and the buyers and shares are sold at an agreed-upon price regardless of the share price. Trading takes place between September 5 and October 4, 2019. FLC … [Read more...] about FLC Faros chairman to slash stake by 12.3%

In each decade, prices typically rise strongly in the first 2-4 years and then decline in the next 3-5 years, said Tran Khanh Quang, CEO of HCMC-based real estate firm Viet An Hoa. The remaining years, prices stay flat as the market waits for a recovery, said Quang, a market observer for 22 years. Prices in the central business districts often initiate the increase by starting slowly, which then leads to prices in the suburb rising fast and later, neighboring provinces, he added. In the last three years, real estate prices have heated to where transaction prices surpassing units’ value, Quang said. Echoing him, Huynh Phuoc Nghia, deputy head of International Business at the University of Economics HCMC, said that land prices have doubled in the 2016-2018 period and surged 4-10 times from 2009-2019. The rising prices have lowered the chance for local residents to own property. They can also end up hindering the development of the manufacturing sector and increase the costs of … [Read more...] about Saigon land prices rise 3 times every decade

(Photo: VNA)   Hanoi (VNA) - VinFast Manufacturing and Trading Company Limited, a subsidiary of Vingroup, has announced that the European Union Intellectual Property Organisation recently granted intellectual property (IP) protection licences for designs of its sedan and SUV models. The first IP protection will be valid for five years which will be extended four times. Accordingly, other automakers will not be allowed to manufacture and sell cars with design identical or similar to Vinfast’s in the EU in the next 25 years. Apart from the EU, Vinfast has applied for industrial design protection for sedan and SUV in the US, Russia, Ukraine, Thailand, Malaysia, the Philippines, Singapore, Laos, Cambodia and Indonesia. The two models were designed by Italy’s Pininfarina and selected by Vietnamese consumers in the contest “Choose the car also, VinFast” in October 2017. In January 2018, Vinfast completed a 5 million USD contract with Pininfarina and … [Read more...] about Vinfast’s sedan, SUV models acquire IP protection in EU