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[2009-05-26] FDI pledges fall sharply in first five months
FDI pledges fall sharply in first five months
(Listed May 26, 2009)
Vietnam has seen foreign direct investment (FDI) dropping by more than three-fourths to US$6.68 billion in the first five months, including the newly-registered funds and extra capital in operational projects, the Ministry of Planning and Investment's Foreign Investment Agency said.The agency said that fresh FDI amounted to only US$2.7 billion committed in 256 newly-licensed foreign-invested projects in the year to date, fall... |
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[2009-05-26] City lacks funds for displaced families
City lacks funds for displaced families
(Listed May 27, 2009)
HCMC now has around 60,000 households that have been displaced due to site clearance at infrastructure projects, but many have not yet been settled down due to difficulties in access to capital sources, officials said at a meeting here yesterday.Nguyen Van Xe, deputy director of the city's Department of Labor, War Invalids and Social Affairs, said that the city now lacks funds to help settle down those people whose land has been red... |
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[2009-05-26] Lao Cai, Thanh Hoa attract foreign investors
Lao Cai, Thanh Hoa attract foreign investors
(Listed May 27, 2009)
Investors from Taiwan, Hong Kong, and the US have recently made major investments in the northern border province of Lao Cai and Thanh Hoa Province, also in the north.In Lao Cai, they are set to build a highway to Noi Bai near Hanoi, upgrade the Lao Cai – Hanoi Railway, mine for copper to make electrical cables, and grow safe vegetables for export.Some Taiwanese companies have invested in safe vegetable production... |
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[2009-05-25] High interest rates on real estate loans keeping clients away
High interest rates on real estate loans keeping clients away
(Listed May 25, 2009)
Commercial banks have been pushing deposit interest rates up to nearly 9 percent, while pushing loans to fund house and land purchases at interest rates of over 12.5 percent. The high lending interest rates have been keeping clients away.According to Tran Phuong Binh, General Director of DongA Bank, the bank has 1,300 trillion in outstanding loans to fund land and house purchase deals, and it plans to increase ... |
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[2009-05-25] Lending surge boosts property, construction sectors
Lending surge boosts property, construction sectors
(Listed May 25, 2009)
Banks have resumed lending to an “astonishing” degree, reviving delayed property projects and boosting construction, investors including Vietnam Property Fund Ltd. said.“A number of credit lines have reopened, resulting in a visible upturn in construction activity,” Vietnam Property Fund said in a note last week. “Dust-covered projects, inactive over the past 12 months, are going full-speed ... |
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[2009-05-25] Lawmakers agree on allowing more Overseas Vietnamese to own houses
Lawmakers agree on allowing more Overseas Vietnamese to own houses
(Listed May 25, 2009)
A majority of National Assembly deputies yesterday agreed with the draft amendment to the Housing Law and Land Law that proposed more categories of Overseas Vietnamese be made eligible to buy a house in Vietnam.In discussions at the NA's ongoing fifth session in Hanoi, many deputies also supported the proposal that each Viet Kieu, or Overseas Vietnamese, is allowed to own only one house or apartment.Curren... |
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[2009-05-25] Vincom Galleries shopping centre to open in August
Vincom Galleries shopping centre to open in August
(Listed May 25, 2009)
Vincom Galleries, a high-end shopping centre, will open in Hanoi in August, said Le Khac Hiep, chairman of the Vincom Joint Stock Company’s management board, on May 21.The 14,000 sq.m shopping centre includes five floors that house 200 stores, to serve the daily needs of Hanoian residents.Vincom Galleries is part of Vincom’s 600 billion VND project to build shopping centres and offices with the latest designs... |
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[2009-05-25] US$280 million for the city of science
US$280 million for the city of science
(Listed May 25, 2009)
The Hanoi-based Hoa Lac Hi-tech Park on May 20 granted investment certificates to two projects of FPT University and the Vietnam Post and Telecommunications Group (VNPT), worth nearly $280 million.The project to build FPT University in the park will be carried out on 30 ha of land, at a cost of nearly $170 million. The university will be able to train 10,000 students and provide around 2,000 IT engineers who are fluent in English an... |
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[2009-05-25] Dangerous residential buildings get revamp
Dangerous residential buildings get revamp
(Listed May 25, 2009)
Reconstruction of residential buildings considered dangerous to residents has started in Ha Noi.The C7 Giang Vo Residential Area in Ba Dinh District's Tran Huy Lieu street is being rebuilt by the Ha Noi Housing Development and Investment Corporation.The work, which will be done in association with interested groups, aims to reduce pressure on the State's budget for upgrading old residential buildings. Corporation director Trinh ... |
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[2009-05-25] BlueScope Steel design awards presented
BlueScope Steel design awards presented
(Listed May 25, 2009)
Some students and young architects received BlueScope Steel Vietnam Design Awards 2009 on Friday for best tram and metro route designs after the contest was launched two months ago.This year's competition lured many architectural students in HCMC and Hanoi and young architects nationwide. "The annual contest aims to encourage the use of steel solutions in architecture training syllabus and construction designs," said BlueScope Stee... |
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[2009-05-25] Lawmakers agree on allowing more Overseas Vietnamese to own houses
Lawmakers agree on allowing more Overseas Vietnamese to own houses
(Listed May 25, 2009)
A majority of National Assembly deputies yesterday agreed with the draft amendment to the Housing Law and Land Law that proposed more categories of Overseas Vietnamese be made eligible to buy a house in Vietnam.In discussions at the NA's ongoing fifth session in Hanoi, many deputies also supported the proposal that each Viet Kieu, or Overseas Vietnamese, is allowed to own only one house or apartment.Curre... |
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[2009-05-23] Agreement signed for new railway
Agreement signed for new railway
(Listed May 23, 2009)
A US$350 million bidding agreement for the construction of the Cat Linh-Ha Dong urban railway project was signed yesterday between the Railway Department and a Chinese company.It was the largest bidding package so far for design, equipment and installation between the China Railway No.6 Engineering Group Co and the Viet Nam Railway Department.Under the agreement, signed in Ha Noi, the Chinese partner will provide 52 ca... |
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[2009-05-23] Property tax law tipped to stop real estate speculation
Property tax law tipped to stop real estate speculation
(Listed May 23, 2009)
Nguyen Minh Phong, from the Ha Noi Socio-Economic Development Research Institute, spoke to the Hai quan (Customs) newspaper about the draft House and Land Tax Law.There have been a number of residential property tax policies, such as registration taxes and transfer taxes. Why is it necessary to issue the House and Land Tax Law while we are facing an economic slowdown?I would like to stress that every country has the... |
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[2009-05-22] Trung Thuy to build rest area in Danang
Trung Thuy to build rest area in Danang
(Listed May 22, 2009)
Trung Thuy Joint Stock Company, owner of the luxury Lancaster building in downtown HCMC, will start work on a roadside rest stop for tourists in the central city of Danang in July.Company chairwoman Duong Thanh Thuy said her company had received an investment certificate and would spend around VND100 billion on the project."The project is on and will start in July for first phase operation in the forthcoming Lunar New Year," she sa... |
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[2009-05-22] Collapse shows danger of degraded buildings in capital
Collapse shows danger of degraded buildings in capital
(Listed May 22, 2009)
The collapse of the roof of a two-storey building has exposed the danger posed by Ha Noi's seriously degrading buildings.The roof of the almost 100-year-old building in the capital's Son Tay Street, Ba Dinh District, fell after heavy rain.The Ba Dinh District People's Committee immediately moved all 20 of its households to alternative accommodation and demolition of the building started.Cao Quoc Viet, of Ward 55 wher... |
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