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[2009-10-17] HCMC breaks ground on country’s largest student dorms

  HCMC breaks ground on country’s largest student dorms (Listed Octob 17, 2009) Construction of the Vietnam National University Student Hostel began October 16 in Ho Chi Minh City’s Thu Duc University Village. Once completed in 2011, the dorms will be capable of housing 60,000 students said officials. The country’s largest dormitory, with total investment of VND2.9 trillion (US$160 million), will span 58.8 hectares and be divided into two sections. One of the areas wi...
[2009-10-17] Auto joint ventures profit from Government policy

Auto joint ventures profit from Government policy (Listed Octob 17, 2009) The Government’s policy in the last ten years of protecting the domestic auto industry has yielded big profits for the industry but not for consumers. There are more than 200 firms engaged in manufacturing and assembling cars and spare parts, with 90 of them manufacturing or assembling cars, seven being 100 percent foreign-owned and 11 being joint ventures, including Mercedes-Benz VN, Ford VN and Toyota VN. A...
[2009-10-16] On-line discussions show concern over land, resource issues

On-line discussions show concern over land, resource issues (Listed Octob 16, 2009) An on-line discussion on the website of the Ministry of Natural Resources and Environment yesterday, October 12, answered nearly 10,000 questions from enterprises and individuals about the State management of natural resources. The discussion, led by Minister Pham Khoi Nguyen, was attended by officials in natural resources and environment departments from 63 provinces and cities nationwide. Nguyen said issues ...
[2009-10-16] Bridge nears completion

Bridge nears completion (Listed Octob 16, 2009) The last spans of the Can Tho Bridge, which will cross the Hau River and connect Can Tho city with Vinh Long province in the Mekong delta, were linked yesterday, October 12. The Transport Ministry's My Thuan Project Management Unit said 96 per cent of the work on the 2.75km main bridge had been completed. Remaining work will be finished early next year, with the bridge open to traffic by the end of March. Once completed, the bridge will be the c...
[2009-10-16] Cheap housing shortage hits lower incomes

Cheap housing shortage hits lower incomes (Listed Octob 16, 2009) Demand for low-cost housing has skyrocketed in major cities but supply is insufficient, according to a recent survey conducted by the Vietnam Report Joint-Stock Company. For every 100 people who buy real estate, 40 per cent want to buy low-cost apartments, and 23 per cent want luxury apartments, according to the report. The Ha Noi and HCM City People's Committees said developers in those cities were required to either set aside ...
[2009-10-16] City allows Phu My Hung homeowners lower land use taxes

City allows Phu My Hung homeowners lower land use taxes (Listed Octob 16, 2009) Homeowners in Phu My Hung Urban Area facing huge land use tax bills due to the delay in receiving titles have been allowed to pay the tax at rates prevalent when they purchased the homes several years ago. The Ho Chi Minh City administration announced the decision Monday following complaints from hundreds of homeowners in the District 7 urban area arguing that they were being made to pay for the fault of the develo...
[2009-10-16] Foreign banks lend PetroVietnam $145.7 mil for new plant

Foreign banks lend PetroVietnam $145.7 mil for new plant (Listed Octob 15, 2009) The Vietnam National Oil and Gas Group (PetroVietnam) signed a contract October 15 with BNP Paribas, Calyon, and HSBC for a loan of US$145.7 million build a polypropylene plant near its Dung Quat Oil Refinery in the central province of Quang Ngai. The plant will cost $234 million. The refinery will provide propylene to the new plant to produce polypropylene, a material used to make plastic and packing items. D...
[2009-10-15] Four percent loan subsidy to continue through 2010

Four percent loan subsidy to continue through 2010 (Listed Octob 15, 2009) The State Bank (SBV) has announced that it will extend a subsidized-lending program that is widely credited with enabling Vietnam to maintain a positive growth rate in 2009 despite world-wide recession. SBV said on its Web site October 12 that the policy extension will support businesses and individuals requiring medium to long-term capital. The subsidized-lending program shaves four percentage points off interest rat...
[2009-10-15] Retail premises get more expensive with Tet sale season coming

Retail premises get more expensive with Tet sale season coming (Listed Octob 15, 2009) Small businesses have begun preparing for the Tet sale season and despite the economic downturn rental costs continue to escalate. Nguyen Thi Hoa, the owner of a stall at Ben Thanh Market in HCM City, said market merchants are already looking for retail premises to lease. During the end-of-lunar-year Tet sale season, a small stall isn’t big enough to display all products. In order to attract buye...
[2009-10-15] Not fair, say homeowners stuck with huge land use tax bills

Not fair, say homeowners stuck with huge land use tax bills (Listed Octob 15, 2009) A land use tax conundrum has developed for many home buyers in Ho Chi Minh City’s Phu My Hung Urban Area. Those who purchased properties several years ago are being asked to pay tax on much higher evaluations because of the delay in receiving titles from the developers. In some instances, the taxes amount to a significant proportion of the property value, putting them beyond the buyers’ reach. Land...
[2009-10-15] FDI in real estate, not an unmixed blessing: analysts

FDI in real estate, not an unmixed blessing: analysts (Listed Octob 15, 2009) Foreign direct investment in the real estate sector has soared in Vietnam in the last three years, but economists are skeptical about the benefits they bring the country and warn about downsides like pollution.According to the Planning and Investment Ministry, the total FDI coming into the sector in just 2006-08 was more than four times the entire investment in the two decades prior to 2006.Some giant projects have r...
[2009-10-15] Over 150 exhibitors present at int’l industrial fair

Over 150 exhibitors present at int’l industrial fair (Listed Octob 15, 2009) International industrial fair EPM LINKAGE Vietnam 2009 opened in Ho Chi Minh City Thursday with over 150 exhibitors. The event, held at the Saigon Exhibition and Convention Center in District 7 until Oct. 17, focuses on machine technology, automation, power transmission and control technology, electricity and the energy industry, environmental protection and water management. The exhibitors come from Germany,...
[2009-10-14] Major underground car park in HCMC licensed

Major underground car park in HCMC licensed (Listed Octob 14, 2009) The Ministry of Planning and Investment has granted the investment license for an underground car park project in Ho Chi Minh City’s District 1, its investor said Monday. Tran Luan Ngo, deputy general director of the Underground Space Investment and Development Company, said the VND1.7 trillion (US$95.6 million) project to build a multistoried underground parking lot in District 1’s Le Van Tam Park will be implemen...
[2009-10-14] POSCO plans to ramp-up Vietnam steel mill by yr-end

POSCO plans to ramp-up Vietnam steel mill by yr-end (Listed Octob 14, 2009) Officials at POSCO, the world's No.4 steelmaker, said on Tuesday it planned the full ramp-up of its cold-rolled steel mill in Vietnam by the end of this year, after completing construction last month as planned. Officials at the South Korean steelmaker declined to unveil the current operation rate of the Vietnam mill, with an annual production capacity of 1.2 million tons. Through the mill POSCO hopes to expand into So...
[2009-10-14] FDI in real estate, not an unmixed blessing: analysts

FDI in real estate, not an unmixed blessing: analysts (Listed Octob 14, 2009) Foreign direct investment in the real estate sector has soared in Vietnam in the last three years, but economists are skeptical about the benefits they bring the country and warn about downsides like pollution. According to the Planning and Investment Ministry, the total FDI coming into the sector in just 2006-08 was more than four times the entire investment in the two decades prior to 2006. Some giant projects have...
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