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Accordingly, the city set massive targets for housing development, including a demand of at least 6.7 million square meters of housing and an average housing floor area per person reaching at least 21.2 square meters, extending 194.6 hectares of land for commercial housing projects and 52.1 hectares for social housing projects . Regarding capital sources, the city will need around VND72,578 billion (US$3.1 billion), including VND28,435 billion (US$1.2 billion) for commercial housing projects, VND43,456 billion (US$1.9 billion) for individual houses and VND698 billion (US$30 million) for social housing projects. Besides, the city is also reviewing the land fund of 20 percent for social housing construction at commercial housing projects and new urban areas in the locality. In addition, Ho Chi Minh City also proposed the State Bank to monitor and direct the commercial banks on strictly controlling the loans in the real estate sector, money transfer from real estate to overseas, … [Read more...] about HCMC needs over US$3 bln for housing development

Because of strict visa policies, promotions to attract international tourists have not been as effective as expected, according to many businesses. Enterprises have made huge investments to welcome back tourists, but such illogical visa policies may slow down the tourism recovery pace. Being confused and facing difficulties Many travel companies in Da Nang City told Tuoi Tre (Youth) newspaper that visa policies for foreign tourists were still their biggest concern. Before the COVID-19 outbreak, Vietnam offered the visa waiver policy for citizens of many countries and the normal visa approval period was three to five days (visas which were valid for 30 days). However, the list of countries whose citizens are entitled to Vietnam’s visa waiver policy has been shortened and the visa processing period has been lengthened, putting enterprises at a disadvantage. Cao Tri Dung, chairman of the Da Nang Tourism Association, said that after the COVID-19 pandemic, the number of … [Read more...] about Strict visa policies hinder international guests from visiting Vietnam

The conference, held by the national carrier Vietnam Airlines and two travel groups – Saigon Tourists and Thien Minh Group – to boost the cooperation between enterprises of the two countries and to introduce Vietnam to U.S. friends and partners. Addressing the event, PM Chinh highlighted the development of the Vietnam - U.S. ties, benefiting both countries and contributing to peace, cooperation and development in the world. The Government leader affirmed that economic, investment, trade and science-education cooperation is an important pillar in the bilateral relationship. In the very challenging year of 2021 due to the COVID-19 pandemic, two-way trade still reached 112 billion USD, accounting for nearly one-third of the total U.S. - ASEAN trade turnover. The U.S. is Vietnam’s second largest trade partner while Vietnam is the U.S.’ 9th largest, he noted, adding that trade between the two countries has contributed to making Vietnam one of the 20 largest import-export countries … [Read more...] about PM urged U.S. businesses to invest in tourism and trade in Vietnam