Tourism project proposal

Well-known groups are continuing to pour money into Vietnam specifically for research and development, Photo: Le Toan LEGO Group COO Carsten Rasmussen last week arrived in Vietnam to speed up the preparation of a $1 billion complex in the southern province of Binh Duong. At last week’s meeting with the Danish toymaker, Deputy Prime Minister Pham Binh Minh said, “This is the largest capital from a Danish group investing in Vietnam, confirming the faith and optimism of Lego, as well as the interest of other Danish investors in this country.” Fresh updates recently revealed by the Ministry of Planning and Investment that the total newly-registered foreign direct investment (FDI) into Vietnam last year amounted to $38.85 billion, up 25.2 per cent on-year, thanks to two billion-dollar projects registered at $7.7 billion and both licensed on the last day of 2021. An annual report on FDI in Vietnam released last week by the Vietnam Association of Foreign-Invested Enteprises … [Read more...] about FDI quality in need of fresh policy boost

Developers clamour for legal clarity, Illustrative image (Photo: VNA) Nguyen Manh Ha, vice chairman of the Vietnam Real Estate Association, said that tourism real estate needs to break down barriers to development as soon as possible, in order to move alongside the general economic recovery. “Currently, mechanisms and policies for resort real estate are unclear, especially in terms of new types of real estate such as condotels, officetels, and second-home villas in resorts,” Ha said. The legal framework has not kept pace with the reality of hospitality and resort real estate development, thus partly hindering the growth momentum of these types of property, Ha added. They are not given a right use certificate, known as a red book in Vietnam, because they are built on land plots permitted for developing tourism property only, and not for residential projects. Doan Van Binh, chairman of CEO Group, said that supply is scarce not only in Vietnam but worldwide due to the impact of … [Read more...] about Developers clamour for legal clarity

Kenneth Atkinson-Vice chairman, Vietnam Tourism Advisory Board However, there is no separate body of law governing condotels and in most locations where they have been constructed it is clear that such developments cannot be issued with pink books for individual units, so ownership ultimately rests with the developers, with a lease term not extending beyond 50 years (70 years can be permitted). In addition, many buyers have been lured by guaranteed returns of 8-12 per cent for the 10 years. Warnings of potential future problems sounded from 2017, but due to the cyclical nature of tourism and potential disruptions to inbound tourists, these were largely ignored and we have already seen failures of such projects like Cocobay and other developers now unable to meet their guaranteed return commitments and for certain several more to come. Now, we have around 240 tourism real estate projects and over 114,000 condotel units, and Vietnam has the largest pipeline of tourism-related … [Read more...] about Taking the right approach to the condotel legislation conundrum

The top Greek leader is on her first official visit to Vietnam. The legislator congratulated Sakellaropoulou as the first female President of Greece, a country with an important position in Europe. Chairman Hue said he believed that the president's visit to Vietnam is an important step, helping to further promote the traditional friendship and multifaceted cooperation between the two countries. He expressed delight that the friendship and multifaceted cooperation between the two countries has been continuously strengthened and developed, which is demonstrated by exchanges of delegations at all levels. National Assembly Chairman Vuong Đinh Hue meets Greek President Katerina Sakellaropoulou in Hà Nội on Wednesday (Photo: VNA/VNS) The cooperation in trade and economy has developed positively, particularly since the Europe-Vietnam Free Trade Agreement (EVFTA) was implemented. Chairman Hue proposed the two countries continue promoting cooperation in areas that are … [Read more...] about NA Chairman Hue welcomes Greek President

A panel discussion at the conference on strengthening ‘Public-Private Partnership for sustainable healthcare transformation’ in Hanoi on May 18. (Photo: VNA) Opening the event, the newspaper's editor-in-chief Le Trong Minh said that Vietnam's health sector faced many challenges, such as increasing infectious and non-communicable diseases, hospital overcrowding, shortage of supplies and equipment, the ageing population as well as the disparity between regions and healthcare levels in terms of quality of medical services and standardisation of modern equipment. “For the health system to be capable and always ready to respond to future situations, towards a comprehensive and sustainable health care system, it is necessary to have new investment orientations in social resources for the health system, as well as stronger cooperation from the parties involved, including the Public-Private Partnership (PPP) method,” said Minh. At the event, MPI deputy minister Tran Duy Dong said it … [Read more...] about Conference discusses Public-Private Partnerships in healthcare

During her stay in Vietnam, President Sakellaropoulou paid tribute to late President Ho Chi Minh at his Mausoleum, laid a wreath at the Heroic Martyrs’ Monument, held talks with President Nguyen Xuan Phuc, paid a courtesy visit on Party General Secretary Nguyen Phu Trong, met with National Assembly Chairman Vuong Dinh Hue, witnessed the signing of important documents, and joined a tea party chaired by Vice President Vo Thi Anh Xuan. Welcoming the Greek President, Party General Secretary Trong affirmed that Vietnam attaches much importance to its traditional friendship with Greece and is delighted at the important progress in their bilateral ties. He gave a number of proposals to promote the partnership in all fields, and suggested Greece continue to support the Vietnamese community in the country. During talks between the two presidents, they shared delight that despite the impacts of the COVID-19 pandemic, trade between the two countries still increased to 447 million USD in 2021, … [Read more...] about Greek President wraps up official visit to Vietnam