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Building investors stall payment of sinking funds

Executive committees and residents of serviced apartment buildings are desperate to collect sinking (or maintenance) funds from investors, who are stalling on the issue. The 2005 Housing Law states that a customer must pay an amount equal to 2 per cent of the purchased apartment towards maintenance funds. The fund …

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Construction of tunnel on National Highway begins

Construction of a tunnel through the Ca Pass on National Highway 1A between Phu Yen and Khanh Hoa provinces in the central Vietnam started on December 28. The project is 13.4 km long, including the 4km tunnel. It is scheduled to be completed in late 2016 and put into service …

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Construction of biggest refinery plant starts

Prime Minister Nguyen Tan Dung on October 23 ordered the start of the construction of Nghi Son Refinery and Petrochemical Complex–the largest-ever in Southeast Asia and also the largest foreign project in Vietnam with capital topping 9 billion USD. Addressing the ceremony in central Thanh Hoa province, PM Dung thanked …

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Condos for lease still far from reality

Although the Ministry of Construction is seeking ways to help enterprises and individuals develop commercial apartments for lease, investors are still facing many difficulties, especially high lending rates they have to bear when building these condos. The ministry is fielding suggestions for the draft Amended Housing Law to complete the …

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Korean investment encouraged in Vietnam

The Republic of Korea (RoK) is willing to share its development experience and encourage its businesses to invest in Vietnam. RoK Ambassador to Vietnam Jun Dae Joo made the statement at an international workshop jointly held in Hanoi on September 12 by the Vietnamese Ministry of Planning and Investment (MPI) …

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Housing shake-up offers hope for foreign buyers

More foreigners will be allowed to purchase houses in Vietnam under a recent proposal made by the Ministry of Construction. The new buyers include foreign investment funds and commercial banks, as well as branches and representative offices of foreign companies currently in operation in Vietnam. The Sai Gon Giai Phong …

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Housing stimulus needs released

Deputy Prime Minister Hoang Trung Hai has asked commercial banks to act fast and remove impediments to disbursement of the 30 trillion VND (1.5 billion USD) housing stimulus package introduced by the government. The package aims to encourage development and purchase of social housing projects, giving a growth impetus to …

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HCM City seeks $15b for road development

HCM City plans to mobilise capital through BOT (Build-Operate-Transfer), BT (Build-Transfer) and PPP (Public-Private Partnership) investment forms to further develop its road infrastructure, a senior official said last week. Speaking at a conference on road development plans until 2020, Le Do Muoi, deputy head of the Institute of Strategy and …

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Ministry outlines housing support rules

Buyers of low-income houses will soon be able to raise mortgages on their new properties, even when they are not built, according to the Ministry of Construction. On June 25, the ministry gave the details of the 30 trillion VND (1.42 billion USD) support package set up for the purpose. …

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