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Storage system nears completion

Storage system nears completion MEKONG DELTA (VNS)— A storage system capable of storing up to 4 million tonnes of paddy rice in the Mekong Delta is expected to be operational by the end of this year, after three years of construction. Located in 52 locations in 13 Mekong Delta provinces and cities and HCM City, storage units will be operated ... Read More »

Opportunities in slumping real estate sector

Opportunities in slumping real estate sector HA NOI (VNS)— Many foreign firms are looking to invest in Viet Nam’s real estate market, a sign that mergers and acquisitions (MA) could soar this year, according to a property consultancy company. The real estate market saw many MA deals in the first months of the year, such as Thu Duc House’s transfer ... Read More »

More serviced apartments go on sale

More serviced apartments go on sale HCM CITY (VNS)— Four new apartment properties (An Phu Plaza, KT, Somerset Vista and Capri) entered the HCM City market during the first quarter, together with a number of units from residential project Xi Riverview Palace. The 374 new apartments represent an 11 per cent increase over the previous quarter, according to property service ... Read More »

MPI signals tax incentives for long-term investors

VietNamNet Bridge – Vietnam is expected to offer tax exemption and reduction for expansion parts of foreign-invested projects as well as tenants in industrial zones in order to attract long-term and environment-friendly investors, said an official of the Ministry of Planning and Investment (MPI). Deputy Minister Dao Quang Thu announced the planned incentives with representatives of foreign-invested and domestic enterprises ... Read More »

The bad debt panorama

VietNamNet Bridge – The reports from 10 State Bank’s local branches showed that Hanoi, HCM City and Da Nang are the localities with the highest bad debt ratios. These are also the localities where the outstanding loans disbursed for the 5 priority business fields (agriculture and rural development, production and export, supporting industries, small and medium enterprises, and high technology ... Read More »

Hanoi determined to improve competitiveness

Hanoi is determined to improve its performance in 2013 following its sharp fall in the provincial competitiveness index (PCI) last year. The capital city dropped 15 places to the 51 st position in the CPI ranking in 2012, due to complaints about its cumbersome administrative procedures, poor management of the real estate market, lack of adequate supports for the business ... Read More »

Urgent solutions to boost economic recovery

VietNamNet Bridge – The Government has outlined urgent solutions to accelerate economic recovery, according to its newly-issued Resolution. First, the State Bank of Viet Nam will continue to reduce lending interest rates in early April, intensify investigations at commercial banks, unblock loan conditions and procedures to facilitate credit circulation in the economy, prioritize loans for agricultural production and rural areas. ... Read More »

Abnormalities found in statistics about Vietnam’s economy

VietNamNet Bridge – Economists, while keeping doubtful about the statistics reported by state management agencies, have warned that if they try to “fabricate” the figures, the regulators would not know how sick the economy is to prescribe properly. Bui Trinh, a well-known economist, at the recently held spring economic forum, mentioned the formula for calculating GDP based on the total ... Read More »

Lack of laborers disillusions labor export companies

VietNamNet Bridge – Collecting workers for export turns out to be a more difficult job than labor companies and the local authorities could imagine.   Local authorities feel worried Nguyen Thi Lieu from the Yen Minh district Sub-department of Labor, War Invalids and Social Affairs in Ha Giang province, complained that it is really a hard job to select laborers ... Read More »

Severe drought hits Binh Dinh farmers

Farmers in the central province of Binh Dinh are struggling to find water to irrigate their rice paddies due to severe drought. Nguyen Duc Dieu, a farmer from Cat Hanh Commune in Phu Cat District, said he had spent a whole day under the sun manually watering his plants, hoping to save his 10-day-old seedlings. “It has taken me three ... Read More »