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[2009-09-23] Red tape hinders city’s infrastructure projects
Red tape hinders city’s infrastructure projects
(Listed Sept 23, 2009)
Demands for infrastructure in Ho Chi Minh City are huge while the State budget is very limited, as such city leaders have worked on open-door policies to attract social investment in building basic facilities. Their efforts, however, have seemed futile, especially when the city’s own bureaucracy is partially to blame for limited private investment. The happiness of Nguyen Thanh Thai, general director of Phu My B... |
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[2009-09-22] Vietnam banks to keep interest rates stable
Vietnam banks to keep interest rates stable
(Listed Sept 22, 2009)
The Vietnam Banks Association said its member banks have agreed to keep interest rates stable for the remaining months of the year following a series of hikes starting last month.
Many banks started raising interest rates on dong and dollar deposits in mid of August to raise enough funds to meet the increasing demand for loans, the association, which groups 52 local lenders, said in a report on its website last week.
The ... |
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[2009-09-22] People still railing against housing tax
People still railing against housing tax
(Listed Sept 22, 2009)
Even after lengthy discussions, problems remain unsettled in the draft housing tax. People believe that the Government should not tax houses which serve as people’s accommodations, while it should only tax second and additional houses. In the first housing tax law draft, the Ministry of Finance intended to impose tax on houses worth 600 million dong and higher at the rate of 0.05 percent on the value in excess. Later, the t... |
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[2009-09-22] Construction material producers looking for solution for oversupply
Construction material producers looking for solution for oversupply
(Listed Sept 22, 2009)
Most construction material producers have been thinking about exporting products which they have in excess. However, export revenue from construction materials in the last few years has been so low that statistics have not even been kept.
Economists have given warnings about the oversupply of many types of construction materials over the last year, from glass, ceramic bricks to cement and steel.
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[2009-09-22] Vietnam dollar shortage pushes deposit rates up
Vietnam dollar shortage pushes deposit rates up
(Listed Sept 22, 2009)
Vietnamese banks have increased their interest rates on dollar deposits to attract funds because of a shortage in the system, bankers said on Monday.
State-run BIDV, Vietcombank – the country's largest partly private lender – and several other banks raised dollar deposit rates by 0.15-0.5 percentage point, the State Bank of Vietnam said in a report.
The central bank said state-owned banks, which command the li... |
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[2009-09-22] Pricey realty in Hong Kong gets a mainland lift
Pricey realty in Hong Kong gets a mainland lift
(Listed Sept 22, 2009)
Upmarket realty in Hong Kong is sizzling hot with prices of two luxury apartments scaling the HK$300-million ($39 million) mark each recently. According to industry markets, the pricey realty clearly shows that cash-rich mainlanders continue to repose faith in the city's real estate market. The city's biggest developer, Sung Hun Kai Properties, has set an asking price 20 percent or HK$50 million more than the previous recor... |
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[2009-09-22] Hanoi’s housing complex for students under construction
Hanoi’s housing complex for students under construction
(Listed Sept 22, 2009)
The Hanoi Construction Department on September 20 broke the ground on high-rise dormitories which are capable of housing 7,400 students once they are completed in the next two years. The apartment complex, built in the My Dinh II urban area of Tu Liem district, consists of five 21-storey blocks covering over 95,000 s.q.m. The project, estimated to cost VND979 VND (roughly US$54.9 million), will be impleme... |
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[2009-09-21] Asians on big city real estate buy spree
Asians on big city real estate buy spree
(Listed Sept 21, 2009)
Asian property investors, including sovereign wealth funds with large war chests, are on a shopping spree for choice office buildings in global capitals, striking while there are bargains to be had. They have set their sights on property in central business districts or the prime retail streets in London, New York and Sydney, as real estate prices in parts of Asia, including China and Singapore, rebound to close to pre-crisis leve... |
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[2009-09-21] Real estate being sold off to avoid PIT
Real estate being sold off to avoid PIT
(Listed Sept 21, 2009)
Many real estate owners are trying to sell off their assets in order to avoid paying the 25 percent personal income tax (PIT) which will be imposed on real estate assignments as of September 26. The Ministry of Finance has released Circular 161 on imposing the 25% PIT on the profit people get from real estate assignments, meaning the margin between sale and purchase prices. Analysts have reported a ‘strong wave’ of sel... |
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[2009-09-21] Dung Quat EZ urged to become industrial city
Dung Quat EZ urged to become industrial city
(Listed Sept 21, 2009)
Experts believe that it is now the right time to change Dung Quat Economic Zone (EZ) into an industrial city under Quang Ngai province to create a new driving force in attracting foreign direct investment (FDI).
By the end of August 2009, in Dung Quat IZ, 147 projects had got approval for investment with the total registered investment capital of $10 billion. Of these projects, 113 had got investment licences with the tota... |
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[2009-09-21] City builds houses for workers, low-income earners
City builds houses for workers, low-income earners
(Listed Sept 21, 2009)
The Saigon Real Estate Corporation (Resco) broke ground for construction of a complex of dormitories for workers and apartments for low-income earners at Tan Nhut Commune in Ho Chi Minh City’s Binh Chanh District on September 19.The complex will cover five hectares, of which 1.45 hectares will be used for construction of dormitories and houses, and the remaining for public construction, transport infrastructure, ... |
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[2009-09-19] People still railing against housing tax
People still railing against housing tax
(Listed Sept 19, 2009)
Even after lengthy discussions, problems remain unsettled in the draft housing tax. People believe that the Government should not tax houses which serve as people’s accommodations, while it should only tax second and additional houses.In the first housing tax law draft, the Ministry of Finance intended to impose tax on houses worth 600 million dong and higher at the rate of 0.05 percent on the value in excess. Later, the t... |
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[2009-09-19] Construction work on Van Phong port to start soon
Construction work on Van Phong port to start soon
(Listed Sept 19, 2009)
Construction work on Van Phong International Port in the central coastal province of Khanh Hoa will start in late September.In the first phase of the VND1,000-billion project, two deepwater docks will be built in the Dam Mon area of Van Phong bay.Under Vietnam’s overall plan for development of seaports until 2020, Van Phong bay will be the only international transit port in the country.
Source: VOV News... |
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[2009-09-19] Real estate being sold off to avoid PIT
Real estate being sold off to avoid PIT
(Listed Sept 19, 2009)
Many real estate owners are trying to sell off their assets in order to avoid paying the 25 percent personal income tax (PIT) which will be imposed on real estate assignments as of September 26.The Ministry of Finance has released Circular 161 on imposing the 25% PIT on the profit people get from real estate assignments, meaning the margin between sale and purchase prices.Analysts have reported a ‘strong wave’ of sell... |
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[2009-09-18] Construction work on Van Phong port to start soon
Construction work on Van Phong port to start soon
(Listed Sept 18, 2009)
Construction work on Van Phong International Port in the central coastal province of Khanh Hoa will start in late September. In the first phase of the VND1,000-billion project, two deepwater docks will be built in the Dam Mon area of Van Phong bay. Under Vietnam’s overall plan for development of seaports until 2020, Van Phong bay will be the only international transit port in the country.
Source: VOV News
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