Strong real estate

Winners of BCI top 10 Developers Award 2022 for Viet Nam. — Photo courtersy of BCI Viet Nam’s top ten property developers and architecture firms were recognised at the the BCI ASIA Award ceremony held in HCM City on June 30. The portfolios of the top developers for 2022 are valued at US$1.82 billion, while those of the 2022 elite architecture firms comprise $9.71 billion worth of properties scheduled to start construction in Viet Nam this year. These firms were chosen based on the greatest aggregate value of projects under construction during the last full calendar year. At the ceremony, the Top 10 Developers Award 2022 for Viet Nam was given to BCG Land Joint Stock Company, BRG Group, BW Industrial Development JSC, CapitaLand Development (Vietnam), Danh Khoi Joint Stock Company, Flamingo Holding Group, Hoang Huy Group, Hung Thinh Land Joint Stock Company, Nam Long Investment Corporation, and Vinhomes JSC. The BCI Asia Top 10 Architects Award 2022 was won by Alinco Ltd, … [Read more...] about BCI Assia Awards honors top architecture, real estate firms

Charles Kaye - CEO, Warburg Pincus Last month, I had the opportunity to sit down with Prime Minister Pham Minh Chinh in New York City after his visit with President Biden in Washington. After the prime minister explained his economic priorities, he asked me a simple question, one that I had not heard so succinctly put by a head of government before. What attributes do you look for in a country considering investing in? I improvised an answer at the time, but the framework of my response captured the critical ingredients we look for – an entrepreneurial spirit, stable macroeconomic conditions, solid infrastructure – both hard and soft, and government policymakers with a practical mindset and commitment to dialogue with business and investors. As Vietnam evolves to meet each of these challenges, it is poised for a significant transformation that will cement its reputation as an economic model for other nations in the region and around the world. First and foremost, we seek … [Read more...] about Appreciating efforts to attract more overseas capital

Illegitimate land slots in Bao Loc City, Lam Dong Province. The draft bans bank loans to borrowers who use the loans to secure future transactions that are unqualified at the moment of the loans. — VNA/VNS Photo The State Bank of Viet Nam (SBV) has been developing a draft amending Circular 39 on bank loans, to keep credit risks in check. The draft bans bank loans to borrowers who use the loans to secure future transactions that are unqualified at the moment of the loans. The ban is expected to prevent the use of bank loans to purchase future real estate properties, which have not been given carte blanche from the authorities due to the lack of construction permits and proof of land use rights. The HCM City Real Estate Association (HoREA) believes that law-abiding real estate firms will remain unaffected by the ban since bank loans are still available to borrowers who aim for qualified real estate properties offered by the firms. "Unqualified realty properties include … [Read more...] about State Bank of Vietnam announces amendments to bank loans circular

Nguyen Tan Danh, chairman and Andy Han, CEO (second and third from left) received the awards from Asia Pacific Property Awards in London The ceremony took place over the weekend at the Sheraton Grand London Park Lane in the UK. The event was one of the largest and the most credible awards in the real estate industry that aims to honour the leading developers, projects, and designers in the Asia-Pacific region. The Filmore Da Nang has surpassed many other reputable projects in the same segment to take home three major awards. In addition, The Filmore Da Nang was nominated for the next international round of The Best Apartment/Condominium in Asia-Pacific. The Filmore Da Nang has not only attracted investors and the jury’s hearts with its design and premium finishes but also impressed with its values. This year, the Asia Pacific Property Awards received more than 1,000 entries for the regional round from residential and commercial projects throughout Asia-Pacific. … [Read more...] about The Filmore Da Nang scoops prestigious awards in the UK

An Cuong Wood Working JSC announces the cooperation agreement with Sumitomo Forestry American. — Photo courtesy of the firm Local timber producer, An Cuong Wood Working JSC, has announced a cooperation agreement with Sumitomo Forestry American, a subsidiary of Japan-based Sumitomo Forestry Group, to provide furniture for projects in the United States from 2022 onward. Sumitomo Forestry America has invested billions of dollars into the US market and owns many real estate and construction companies. The company planned to launch thousands of housing products in the US. According to An Cuong, the cooperation was expected to help it earn tens of millions of US dollars per year. An Cuong’s representative said: “It will be a great opportunity for An Cuong to boost its business activities in the largest economy in the world.” An Cuong chairman Le Duc Nghia said the firm exports some US$20 million worth of products stateside each year, estimating the cooperation with Sumitomo … [Read more...] about An Cuong works with Japanese partners to export wood to the US

Vietnam attaches importance to the Mekong – Lancang Cooperation (MLC) and wishes to make a practical contribution to the mechanism to bring real benefits to the people. The Foreign Ministers of Cambodia, Laos, Myanmar, Thailand, China and Vietnam pose for a group photo at the seventh Mekong - Lancang Cooperation Foreign Ministers’ Meeting in Myanmar on July 4. (Photo: baoquocte.vn) Foreign Minister Bui Thanh Son made the remarks while addressing the seventh MLC Foreign Ministers’ Meeting that opened in Bagan, Myanmar, on July 4. He shared the view with his counterparts of Cambodia, Laos, Myanmar, Thailand and China that despite the impact of the COVID-19 pandemic two-way trade turnover between Mekong River basin countries and China reached nearly US$400 billion last year, up 23% compared to 2020. Many large infrastructure projects have been completed, while hundreds of technical assistance projects have been implemented. The ministers especially welcomed the … [Read more...] about Vietnam proposes measures to foster Mekong – Lancang cooperation