Business

One year after foreigners were permitted to buy houses in Vietnam, many real estate projects have reached their foreign sales limit of 30 per cent.

Vietnam has spent VND14 trillion (USD630 million) on subsidising national associations and unions since the beginning of this year, but much of the spending has proved ineffective said a local expert.

Despite high demand, and swathes of poor quality and over-priced housing in the city, in the west of Hanoi is a supposed luxury residential area with hundreds of houses, which has become a ghost town as no one moved

The HCM City People’s Court has upheld a 30-year prison sentence for Phạm Công Danh, a former bank executive, for his wrongdoings and violations of banking rules.

Up to 12 resort projects along Ke Ga Beach in the southern central province of Binh Thuan have been left abandoned for more than 10 years due to continual policy changes by local authorities and the central government.

The HCM City People's Supreme Court upheld the seven-year jail sentence for a man for extorting money from a local beverage maker.

A steel project in south-central province of Ninh Thuan is facing public scepticism due to the recent mass fish deaths caused by Formosa’s pollution incident.

The government has agreed to provide additional incentives to the State-owned Binh Son Refining and Petrochemical Company Limited regarding tax reductions and giving it financial autonomy.

The Japanese Government will provide the Vietnamese Government with an 11 billion JPY loan in the 2016 fiscal year to help improve socio-economic infrastructure and the competitiveness of the national economy.

The government inspectorate has uncovered various wrongdoings at the Vietnam National Petroleum Group (Petrolimex) and a member company.

The pressure on the budget deficit will likely increase in the remaining months of this year due to the anticipated rapid rise of investments in capital construction.

Vietnam will buy 40 Airbus planes worth USD 6.5 billion following an agreement signed between several Vietnamese and French airlines this morning, September 6, in Hanoi.

Dozens of FDI projects being abandoned in Dong Nai Province, causing concern about Vietnam's FDI project management capacity.

The Transport Department in HCM City has said it is considering to build a five-kilometre flyover which would run from Truong Son Road to Tan Son Nhat International Airport.

The prices of RON 92 petrol and bio-fuel E5 were raised 702 VND (0.31 USD) and 611 VND 0.27 USD) per liter from 3:00 pm on September 5.

Vietnam’s (B1 stable) credit profile is supported by its robust economic growth and diversified economy, Moody’s Investors Service said.

In Hanoi, imported fruit is priced reasonably and sells well. For example, apples imported from the US and New Zealand are only VND56,000 to VND70,000 ($2.5-3) per kilo.

The free trade agreement between the Eurasian Economic Union and Vietnam will take effect on October 5, Minister for Trade at the Eurasian Economic Commission Board Veronika Nikishina has said.

Vietnam is emerging as a rising retail market within Asia-Pacific, according to real estate consultants JLL.