Tan Hoang Minh won the bid in a ‘duel’ to buy the 3-12 land plot in Thu Thiem new urban area in HCM City, but finally gave up. On January 11, Tan Hoang Minh issued a press release, saying that it will send an official document to HCMC People’s Committee, Land Bank Development Center and HCMC Property Auction Service Center about its decision on unilaterally terminating the contract on the purchase of the 3-12 land plot. The contract was signed on December 17, 2021, or one working week after the auction day (December 10, 2021). During the auction four land plots were sold. This means that if Tan Hoang Minh cancels the purchase of the land, it will lose the deposit of nearly VND600 billion. A question has been raised about the ‘fate’ of the land plot, called ‘golden land’ because of its advantageous position. Some people said the land may fall into the hands of the business with the second highest bidding price at the auction. The auction session was described as … [Read more...] about What’s behind Tan Hoang Minh’s sky-high bidding price?
Qatar warns of gas price spikes as it forges ahead with expansion
Defendant Pham Vu Phong (Photo: VNA) HCM City (VNA) – The Ho Chi Minh City People’s Procuracy on January 15 decided to arrest and launch criminal proceedings against Director of Nam Phong Company Pham Vu Phong for “violating bidding regulations, causing serious consequences” and “giving bribe” in accordance with Articles 222 and 364 of the Penal Code 2015. Nam Phong Company at a total cost of nearly 39 billion VND (1.69 million USD) from February – September 2021, via a competitive bidding package and 37 others in designated procurement form. The purchase was requested by Viet A Company with the purpose of raising prices and Nam Phong Company was given a 30-40 percent commission, or nearly 11 billion VND. VNA … [Read more...] about Director of Nam Phong Company arrested for raising test kit prices
Land fever has attacked not only large cities but also rural areas, leaving young people without hope of buying a house. Dung and Hoai are workers at a factory in Son Tay, Hanoi. The couple planned to buy a land plot, 120 sq m, worth VND700 million in Ba Vi where they would live and run a small-scale livestock facility. However, the plan has been postponed because the land prices in Ba Vi have been escalating steadily since October 2020. Investors and brokers have been flocking to the area to ‘hunt’ for land, hiking up prices. In November 2020, Dung decided to buy a land plot in Ngoc Nhi Commune and paid a deposit of VND50 million. However, the deal failed because the landlord decided to sell the land plot to another buyer, who accepted to pay 50 percent higher. “The land plot price soared from VND700 million to VND1 billion just after one week,” Dung said. A preschool teacher in Ba Vi said she wants to buy a land plot to settle down in the area, but this is just a … [Read more...] about Land fever disturbs rural areas, housing dreams squashed
President Nguyen Xuan Phuc had a meeting with Prime Minister Mikhail Mishustin in Moscow on December 1 as part of his ongoing official visit to Russia. President Nguyen Xuan Phuc (L) and Russian Prime Minister Mikhail Mishustin during their meeting in Moscow on December 1 as part of the former's official visit to Russia. The President affirmed the Party and State of Vietnam always keep in mind Russia’s assistance for Vietnam in the past and at present, and attach importance to the comprehensive strategic partnership with Russia. Vietnam considers Russia a leading priority partner in its foreign policy, he said, while expressing his delight at achievements Russia has obtained in recent times. Host and guest focused their discussion on cooperation between the two countries in areas, especially economics, while expressing their pleasure with the continued expansion in bilateral trade and investment cooperation despite impacts of COVID-19. They spoke highly of … [Read more...] about President Nguyen Xuan Phuc meets Russian Chairman of State Duma & Prime Minister
Viet Nam's largest enterprises were honoured at the event. — Photo courtesy of Vietnam Report The Vietnam Report JSC and online newspaper VietNamNet last week revealed the 500 largest enterprises in Viet Nam (VNR500) and Top 10 prestigious companies in the pharmaceutical industry - logistics - animal feed - packaging this year. They are all large-scale businesses with effective and stable business records and strong financial potential. These enterprises have established a foothold in the market, significantly contributing to the country’s economy recovery amid the impact of the COVID-19 pandemic. On the VNR500 list are Samsung Electronics Thai Nguyen Co Ltd, Viet Nam Electricity (EVN), Viet Nam Oil and Gas Group (PetroVietnam), Viettel Military Industry and Telecoms Group (Viettel), and Viet Nam National Petroleum Group (Petrolimex) and Vingroup, among others. Vu Dang Vinh, General Director of the Vietnam Report JSC said 2021 was a special year, marking the beginning of the … [Read more...] about Viet Nam’s 500 largest enterprises in 2021 announced
In an interview with the Vietnam News Agency, Huong said the 2022 growth can be forecast based on such indicators as macroeconomics and major balances of the economy, creating a premise for more flexible and efficient fiscal and monetary policy management. According to her, the post-pandemic economic development and recovery programme offering support packages through fiscal and monetary policies will be an opportunity for businesses and people to quickly recover from the pandemic. Domestic demand will recover and increase gradually, as a proper part of the population have been fully vaccinated. In the context of the epidemic, many industries and fields have turned to the application of information technology, creating new production and business forms that integrate technology to achieve higher productivity, quality, and efficiency. In addition, major trade partners of Vietnam are on their ways toward recovery, pushing for stronger transactions in the near future. Meanwhile … [Read more...] about “New normal” adaptation leads to positive forecast for Vietnamese economy in 2022: official