Foreign investors confident of success in Viet Nam

Optimistic about Viet Nam ’s rapid economic growth and accelerated reforms, foreign investors show their confidence in their success and are investing large amounts into the country.

This statement is typical of comments from many participants at a seminar titled “ Viet Nam : A rising star – Prospect for Investment and Business” held in Ha Noi on November 26.

Malaysia ’s Ireka Development Management President and Chief Executive Officer Lai Voon Hon reiterated the sentiment by saying Viet Nam ’s recent high economic growth is appealing to Malaysian investors.

SBV to put brakes on overly hot real estate credit

Ho Huu Hanh, Director of the HCM City Branch of the State Bank of Vietnam, has revealed that the central bank will introduce policies to control real estate credit.

Commercial banks are rushing to pump money into the real estate market, considering this a good address for their usable capital. Do you think that the funding of house and land purchasing deals is risky?

Vietnam catches real estate fever

There's a real estate boom happening in communist Vietnam, where prices are soaring on properties yet to be built and investors are camping in the streets to get first chance to buy.

Western-style suburbs and apartment blocks are sprouting up, driven by more than 8 percent annual economic growth and a stock market that has given investors ready cash to spend.

Realtors say the pace is so hot that supply cannot match demand, which is sending prices zooming off the charts -- no mean feat in a country where per capita GDP is under 1,000 US dollars.

AIG to expand to real estate

American International Group, Inc., (AIG), a world leader in insurance and financial services, looks set to expand its Vietnam operations to the real estate sector which it says holds the great potential for growth.

Kevin P. Fitzpatrick, president of AIG Global Real Estate Investment Corp., a unit of the group, was speaking of this intention at a meeting in HCMC on Monday with HCMC Party chief Le Thanh Hai.

Regulation, tax rumours pop vietnam real estate balloon

Reports about measures being considered by the Government to ease the property market, including a progressive tax rate, have had an immediate and sharp impact on housing prices in HCM City.

Lam Van Chuc, director of Phuc Duc Housing Ltd., thinks the progressive tax proposed by the Construction Ministry is the reason for a fall of 30 per cent in the number of clients making inquiries last week.

The ministry also asked the HCM City government last Tuesday to investigate violations of the Housing Law and the Law on Real Estate Transactions by property developers.

Gov’t wants lower tariff on foods, new tax on real estate

Deputy Prime Minister Nguyen Sinh Hung has ordered the Ministry of Finance to consider lowering tariffs on imported foods and materials for making animal feed. The ministry has also been told to weigh progressive tax housing and land ownership to prevent speculation, Sai Gon Giai Phong reports.