Phan Cong Chanh, CEO of developer Phu Vinh Group, said the real estate market will pose more risks than opportunities for investors in 2023, adding that would-be investors should save their money instead of spending it. According to Chanh, in the long term the market will benefit from rosy economic growth prospects, better legal frameworks and improved stock markets, especially the corporate bond market, But he said this would be gradual recovery that wouldn’t flourish to its full potential until 2-4 years from now. The Central Institute for Economic Management put forth two economic growth scenarios for this year. Accordingly, GDP growth will either stand at 6.47%, inflation at 4.08%, export growth at 7.21% and trade balance at $5.64 billion, or at 6.83%, 3.69%, 8.43% and $8.15 billion, respectively. With the draft amendments to the Land Law submitted to the National Assembly for potential approval in October, and amendments to other related laws such as the Law on Real Estate … [Read more...] about Should you invest in property or save your money this year?
Who draft resolution
Speaking at the event, the N.A. leader said that in 1948, in Viet Bac region, which now comprises Cao Bang, Bac Kan, Lang Son, Ha Giang, Tuyen Quang, and Thai Nguyen provinces, President Ho Chi Minh issued a patriotism emulation appeal. Over the past 75 years, the movement has developed continuously, helping to make great achievements in the process of national building and safeguarding. He appreciated the important results gained by Tuyen Quang’s Party organization, administration and people in the patriotism emulation movement, and afforestation and forest protection, and forestry economic development. Regarding tasks for this year, the N.A. chairman asked authorities and sectors at all levels to effectively implement the emulation movement associated with the study and following of President Ho Chi Minh’s thought, morality and lifestyle; realize the resolutions of the Party and the legislature on socio-economic development and budget in 2023 to make the most of the province’s … [Read more...] about National Assembly leader launches emulation drive, tree planting festival in Tuyen Quang
Fluctuations in the global market in 2022 have forced Vietnam to import petrol to meet the domestic market's demand. Statistics from the General Department of Customs show that the import volume of petroleum in December 2022 was more than 944,000 tonnes, valued at $823 million. It marked a 22.3 per cent month-on-month rise in volume and 10.9 per cent in value. In 2022, the country imported 8.87 million tonnes of petrol worth $8.97 billion, a sharp increase of 27.7 per cent year-on-year in volume and 118.5 per cent year-on-year. In which, imported diesel oil reached 4.74 million tonnes, increased by 1.5 per cent year-on-year and accounted for 54 per cent of imported petrol and oil of the whole country. The imported petrol volume reached 1.7 million tonnes, increased 2.3 times compared to the previous year and accounted for 21 per cent of imported petrol and oil of the whole country. Besides that, imported jet fuel reached 1.46 million tonnes, increased 2.2 times compared to the … [Read more...] about Ministry of Industry and Trade aims to stabilise petrol market