Higher ceiling for foreign homeownership?By Le Anh Estate projects in districts 2 and 7 are favored by foreign homebuyers - PHOTO: THANH HOA The foreign ownership ceilings of some real estate projects in HCMC, especially those in districts 2 and 7, have been reached as the demand from foreign homebuyers is rising. In this context, should the foreign homeownership limit be raised? Nguyen Duc Tai, a real estate broker in District 2, just received another request a short while ago. Two South Korean customers contacted Tai asking him to search for an apartment in the district that they could own. Current regulations set the ceiling of foreign ownership in realty projects at 30% of the total number of houses or apartments. The problem was that limit in all the projects which meet the Korean house seekers’ requirements offered by Tai’s firms had been crossed. “I’ve tried to search for other projects but I’ve failed to find one that suits the need … [Read more...] about Higher ceiling for foreign homeownership?
Why foreign direct investment is important
Toyota Việt Nam has asked the Vĩnh Phúc Province People’s Committee to lease 9.1 hectares of land in Phúc Yên city to expand its plant and increase its annual capacity from the current 50,000 units to 90,000 by 2023. — Photo vietnamfinance.vn Toyota Việt Nam has asked the Vĩnh Phúc Province People’s Committee to lease 9.1 hectares of land in Phúc Yên city to expand its plant and increase its annual capacity from the current 50,000 units to 90,000 by 2023. It plans to invest around US$40 million. Earlier Hyundai announced it would build a second plant in Việt Nam in the northern province of Ninh Bình. Mitsubishi Motors expects its second factory in the country to start production later this year. The sharp increase in foreign direct investment in the automobile industry has also been indicated in the latest report by the Ministry of Planning and Investment’s Foreign Investment Department. It … [Read more...] about Foreign auto makers’ U-turn: not just not quitting VN, expanding
A view of Đồng Nai Province. According to the Foreign Investment Agency, in the first five months of the year foreign direct investment in new projects was worth US$4.66 billion, 17 per cent down from last year’s figure for the same period. — Photo cafef.vn According to the Foreign Investment Agency, in the first five months of the year foreign direct investment (FDI) in new projects was worth US$4.66 billion, 17 per cent down from last year’s figure for the same period. Capital addition by existing projects plunged by 46 per cent to $2.5 billion. The first five months of last year saw several new large projects licensed while some existing major investors also brought in more money. But this year most projects have been small or medium-sized, with the largest being South Korea’s LG Innitek Hai Phong, which has an investment of $501 million. Thai-invested Bac Lieu Wind Power Project No 3 involves an investment of $365.76 million, while … [Read more...] about VN leaders’ foreign visits expected to up FDI
After stopping car exports to Viet Nam for more than a month, Japanese auto giant Honda Motor suddenly decided to import around 2,000 vehicles from Thailand in early March. — Photo tuoitre.vn After stopping car exports to Viet Nam for more than a month, Japanese auto giant Honda Motor suddenly decided to import around 2,000 vehicles from Thailand in early March. This is the first batch of automobiles exempt from import tax under the ASEAN Trade in Goods Agreement (ATIGA) to be imported into Viet Nam. ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam. Ly Thanh Binh, head of customs at HCM City’s Hiep Phuoc Port, confirmed that Honda cars including Jazz, Accord, CR-V and Civic were unloaded at the port on March 1. The vehicles will be sold in one or two months after they undergo several mandatory tests as part of the customs clearance process. In January, Toyota Motor and Honda decided to suspend exports to … [Read more...] about Floodgates could open as Honda imports cars
Vietnam is a potential investment destination, with many available opportunities now await Australian investors to grab their own, Vietnamese Prime Minister Nguyen Xuan Phuc told the Vietnam-Australia Business Forum in Sydney on Friday. The forum is the most important investment promotion event in the framework of the Vietnamese head of government’s official visit to Australia from March 14 to 18. During the event, PM Phuc and government officials of the two countries witnessed the exchange of 18 memoranda of understanding on investment cooperation between their enterprises and organizations. Speaking to an audience of hundreds of Vietnamese and Australian enterprises and investors, the Vietnamese premier expressed his pleasure to witness the signing of those agreements, particularly Vietnamese low-cost carrier Vietjet’s plan to open a nonstop Vietnam-Australia service. “This will make it easier for promoting investment collaboration between Vietnamese and Australian … [Read more...] about PM points out ‘golden chance’ for Australian businesses to invest in Vietnam