HANOI’S LUCRATIVE PROPERTY MARKET ATTRACTS FOREIGNERS
Hanoi expects to attract more foreign buyers on its real estate market as a rising number of foreign experts and entrepreneurs are working in the capital city.
PROMOTING VIETNAMESE REAL ESTATE MARKET
Under the chairmanship of the Vietnam National Real Estate Association (VnREA) and the United States National Association of Realtors (NAR), the International Real Estate Conference (IREC 2018) took place over five days from September 5 to 9, 2018, in Hanoi. This was the fourth conference held by NAR, the first in Vietnam.
REAL ESTATE MARKET GETS MORE STABLE
The Vietnamese real estate market is entering the last quarter of 2018. Remarking on market performance from the beginning of the year, an official from the Ministry of Construction said that the market had relatively stable growth, abundant supply and more practical product valuation. Hence, the actual demand also picks up significantly. The Ministry said that a potential boom in land demand may be seen in areas with good cooperation, but the market will be generally stable.
NEW REGULATION ON WAGES ISSUED
The Government has issued a decree to update provisions of the Labour Code relating to wages. The newly issued decree, which will take effect from November 1 this year, details regulations for wage scales, payroll and labour productivity norms.
VIET NAM’S STOCK MARKET CAPITALISATION REACHES 79.2% OF GDP
Việt Nam’s stock market capitalisation increased 13 per cent against the end of last year, reaching nearly VNĐ3.97 quadrillion (US$169.5 billion) by the end of August. This value was equivalent to 79.2 per cent of the country’s gross domestic product (GDP), according to the Ministry of Finance.
VIETNAM – ATTRACTIVE DESTINATION FOR ESTATE INVESTORS
Vietnam will become an attractive destination for real estate investment and business because of the high demand for housing, industrial park infrastructure, shopping malls, and tourism property.
KEY TRANSPORT INFRASTRUCTURE PROJECTS FACE CAPITAL SHORTAGE
Many major transport infrastructure projects such as the North-South Expressway, and Ring Road No.2 of HCMC may fall behind schedule due to shortages in investment capital and complicated mechanisms, reported Thanh Nien newspaper.
TAX ADMINISTRATION LAW REVISION TO FURTHER FACILITATE TAXPAYERS
The draft Law on Tax Administration (amended) adds a lot of new regulations to meet tax reform requirements to further help taxpayers. Mr Cao Anh Tuan, Deputy General Director of the General Department of Taxation, said, the draft law increases rights and facilitations for taxpayers. Specifically, taxpayers will know the time limit for tax refund, the value of unrefunded tax and legal reasons for unrefunded tax.
