Land split into lots for sale. The real estate market was slowing down on the tightening of credit flow into certain segments. — VNA/VNS Photo As moves are taken to control the credit flow into certain segments, while localities seek to tighten the land lot split, the real estate market could slow down, but experts remain divided on the risk of the bubble bursting. In recent years, land prices increased rapidly despite the impact of the COVID-19 pandemic. According to a report by the Department of Housing and Real Estate Market Management under the Ministry of Construction, land prices, especially in localities planning or developing infrastructure saw whopping increases. The moves to control credit flow into the real estate sector and land lot split were cooling the market, with falling liquidity but prices staying at high levels. A report by real estate portal batdongsan.com.vn showed that searches for property on sale via the portal in the first five months of this year … [Read more...] about Real estate market slowing down, experts divided on bubble risk
Qualifying corporate bonds
National Assembly Chairman Vuong Dinh Hue holds talk with the Prudential management led by chairwoman Shriti Vadera, Interim Group CEO Mark FitzPatrick and Prudential Vietnam CEO Phuong Tien Minh, during his visit to the UK. — VNA/VNS Photos Doan Tan Photos Doan Tan Prudential plc executives called on National Assembly Chairman Vuong Dinh Hue and the high-level delegation he led to Britain to attend the Vietnam – UK High-level Forum on Economy and Trade to discuss the Vietnamese Government’s priorities and the role of insurers in increasing financial inclusion in the country. This meeting was aimed at strengthening relationships and underlining Prudential’s commitment to Viet Nam. After the two-year-long COVID-19 pandemic, Prudential is focusing on building a resilient business to best serve its customers. Insurers like Prudential play an important role in developing innovative savings and protection products to meet Vietnam’s evolving needs while strengthening and deepening … [Read more...] about National Assembly chief Vuong Dinh Hue meets Prudential brass during UK visit
Dao Minh Chanh, Deputy Director of the municipal Department of Planning and Investment, said E.U. countries are investing in 2,724 projects in HCM City, mostly in the fields of manufacturing and processing, retail and wholesale, motor and automobile repair and maintenance, and information and communications. Worth a total of 7.69 billion USD, they account for 10.27% of FDI in the city, he said. HCM City has constantly improved its business climate and adopted various incentives to encourage more FDI, he said, adding that most notably among the incentives include reductions in corporate income tax, import-export duties and land lease. Vo Van Hoan, Vice Chairman of the municipal People’s Committee, highlighted the importance of the E.U.-Vietnam Free Trade Agreement (EVFTA) which has entered into force, saying it has brought great and balanced benefits to both sides and there is a huge opportunity for Vietnam and the E.U. to step up bilateral economic cooperation. With the E.U.’s … [Read more...] about HCM City calls for E.U. investment in nearly 200 projects
At a meeting in London on June 30 with Kenneth Atkinson, head of the British Business Group in Vietnam (Britcham), and representatives of British groups and investment funds operating in Vietnam, Hue affirmed that the relationship between Vietnam and the U.K. is at an all-time high. He believed the U.K. will continue to elevate its role and position in terms of economy, trade and investment in Asia-Pacific, including the Association of Southeast Asian Nations (ASEAN) and Vietnam. The N.A. Chairman said two-way trade has reached 6-7 billion USD per year, but there remains huge room for the countries to boost trade. Hue expressed his hope that Britcham will further affirm its role in attracting and guiding British businesses in Vietnam, while intensifying its consultation and policy support for these firms. The Vietnamese legislature, government, ministries, agencies and localities are willing to work to improve the investment and business environment for both domestic and … [Read more...] about Vietnam seeks stronger trade, education ties with U.K.
Hue held talks with top legislators, met with government leaders and ministers of Hungary and the U.K. and witnessed the signing of a number of memoranda of understanding on cooperation between ministries and localities. He took the occasion to thank Hungarian and British leaders and people for donating COVID-19 vaccines and test kits to help Vietnam combat the pandemic. The N.A. Chairman also met with heads of friendship parliamentary groups, friendship associations, corporations and universities in the two countries; attended high-level forums on trade, economy, investment and education; and visited Vietnamese communities there. The visits aimed to deepen bilateral cooperation with the two European countries and showed the Party's and State's care for Vietnamese expatriates. The signing of an agreement between the Vietnamese and Hungarian National Assemblies marked a new milestone in the two sides’ relations, lifting the bilateral parliamentary ties to a new height. Hue’s … [Read more...] about Top legislator arrives in Hanoi, concluding visits to Hungary, U.K.
Vietnam wants to learn from the experience of developed countries, including the U.K., in developing a financial center, National Assembly Chairman Vuong Dinh Hue told the Acting Mayor of the City of London Peter Estlin. He noted that the city of London was one of the biggest financial centers in the world. Hue met Estlin during his June 28-30 official visit to the U.K. Estlin said the U.K. was willing to partner with Vietnam at different levels, including developing a financial market and improving its business credit rating to grow the bond market. He also expressed support for a partnership between U.K. banks and Vietnamese counterparts to help Ho Chi Minh City become a financial center. In a draft plan published last February, HCMC seeks to establish an international financial center by 2030 with three main components: a monetary and banking market; a capital market; and a derivatives market. … [Read more...] about Vietnam seeks UK assistance for HCMC financial center