The old apartment block of the Ministry of Justice in Ba Dinh District, which is graded D (in a very dangerous condition). — VNA/VNS Photo Minh Nghia Dangerous and degraded residential apartment blocks in Ha Noi will be renovated by 2025. The plan is part of a project on renovation and reconstruction of old apartment buildings in Ha Noi, which was endorsed by the Ha Noi People’s Council on Thursday. This project, implemented during the 2021-25 period, aims to eliminate unsafe and degraded real estate and improve the city’s urban environment and people’s lives. Data of the Ha Noi Department of Construction showed Ha Noi has nearly 1,600 old apartment buildings constructed between 1960 and 1994, some of which were even built before 1954. The city is reviewing to add about 200-300 properties to the list. According to the construction department’s inspections, more than 400 buildings show signs of risk, of which 148 are classified as B-grade which means the building is still … [Read more...] about Ha Noi to renovate degraded apartment blocks by 2025
The old apartment block of the Ministry of Justice in Ba Đình District, which is graded D (in a very dangerous condition). VNA/VNS Photo Minh Nghĩa HÀ NỘI — Dangerous and degraded residential apartment blocks in Hà Nội will be renovated by 2025. The plan is part of a project on renovation and reconstruction of old apartment buildings in Hà Nội, which was endorsed by the Hà Nội People’s Council on Thursday. This project, implemented during the 2021-25 period, aims to eliminate unsafe and degraded real estate and improve the city’s urban environment and people’s lives. Data of the Hà Nội Department of Construction showed Hà Nội has nearly 1,600 old apartment buildings constructed between 1960 and 1994, some of which were even built before 1954. The city is reviewing to add about 200-300 properties to the list. According to the construction department’s inspections, more than 400 buildings show signs of risk, of which 148 are classified as B-grade which means the … [Read more...] about Hà Nội to renovate degraded apartment blocks by 2025
Customs clearance time for exports shortens The average duration for customs clearance for exports last year stood at 38.4 hours, a decline by 57.38 hours compared to 2019, according to a survey of an inter-sectoral working group. The cost for such procedures averaged 338 USD, falling 81.72 USD against 2019. Meanwhile, the time for imports was 54.8 hours, a drop of 48.88 hours. Total cost for the procedures hit 313.17 USD, plunging 256.41 USD. Document digitalisation is among important reasons that help businesses save time and costs for customs clearance for cross-border trade. The deployment of the Vietnam Automated System for Seaport Customs Management (VASSCM) also facilitates port-related activities. According to the General Department of Vietnam Customs, import and export documents in 2020 amounted to 6.75 million and 6.98 million, respectively. Trading across borders indicator set is part of the World Bank’s annual Doing Business rankings since 2001. The set … [Read more...] about VIETNAM BUSINESS NEWS SEPTEMBER 24
VinFast charging stations in an apartment complex in Ha Noi. — Photo nld.vn Slashing registration fees by half for electric vehicles (EVs) may cost the State budget as much as VND8.6 trillion (US$380 million) a year, said the latest report by the Ministry of Finance. The cut was needed to boost domestic demand for EVs, a key component of a greater effort by the Government to reduce greenhouse emissions and reliance on traditional fossil fuels, according to the ministry. Viet Nam has but one maker of EVs: VinFast, a member of the conglomerate organisation Vingroup, which can produce up to a quarter of a million vehicles a year. As of now, VinFast's EVs retails at VND690 million per unit (not including the battery), significantly more expensive than its internal combustion-engine counterparts with the same number of seats, which typically cost around VND420 million. Sales of EVs in the short run, however, are unlikely to increase significantly as the new generation vehicles … [Read more...] about EV incentive to cost State budget VND8.6 trillion
A social housing project in Ha Noi's Me Linh District. Photo laodong.vn The State Bank of Vietnam (SBV) has proposed that commercial banks not be allowed to provide preferential loans to low-income people seeking to purchase, lease and lease-purchase social houses. The proposal is part of draft amendments to the central bank’s Circular No. 25/2015 on instructions for concessional loans for social housing. Specifically, people who want to purchase, lease or lease-purchase will only be able to borrow money at low-interest rates from the Vietnam Bank for Social Policies (VBSP). The rationality for the amendment, according to the central bank, is to make it suitable to the current Housing Law 2014, which stipulates that the VBSP is the only source of funds for social housing seekers. Currently, some commercial banks are designated by the SBV to provide preferential loans for social housing buyers, including Joint Stock Commercial Bank for Foreign Trade of Vietnam … [Read more...] about State Bank of Vietnam draft regulations on social housing lending cause controversy.
A health worker at a hotel that has been converted into a quarantine centre in central Da Nang City. — Photo cafef.vn Converting hotels and resorts into quarantine centres has offered many hospitality firms a lifeline during the COVID-19 pandemic. The pandemic has hit Viet Nam's tourism sector hard and among the most affected was the hotel industry. Hotel occupancy rates in Ha Noi, Da Nang and HCM City dipped to the lowest levels in the last ten years, according to a recent survey by the Vietnam National Administration of Tourism. Occupancy rates among hotels with three stars and more in Ha Noi have dropped to a dismal 30 per cent at US$81 per night on average in 2020, compared to a 74 per cent at $113 per night pre-pandemic. The first half of 2021 saw a further decline to 25 per cent at $72 per night. Things have been even worse for Da Nang, the country's largest tourism hub. Occupancy rates fell from an average of 61 per cent at $108 per night in 2019 to 17 per cent at $54 … [Read more...] about Hotel/quarantine model offers a lifeline for many in tourism