Want to be in the loop?
subscribe to
our notification
Business News
CONSTRUCTION RULES TO BE CUT
The Ministry of Construction is preparing to propose huge changes in construction regulations in order to improve the climate for construction and real estate business.
Tong Thi Hanh, director of the ministry’s Legal Department, said at a conference held on Wednesday that the ministry was compiling a law which would amend several points of four existing laws, including the Law on Construction 2014, the Law on Housing 2014, the Law on Real Estate Business 2014 and the Law on Urban Planning 2009.
Hanh said that it was critical to amend the shortcomings in these laws. For example, the procedures for granting construction permits remained complicated and time-consuming, causing problems for firms.
The recent issuance of new laws such as the Law on Planning also required amendments to the legal framework in the construction and real estate business sector to ensure consistency in the legal system, Hanh said.
In addition, a decree would be compiled to remove 41.3 per cent of the existing construction business prerequisites while simplifying another 43.7 per cent.
Hanh said that all the changes would aim to create favourable conditions for construction and real estate businesses.
The ministry planned to propose the draft law to the Government in March 2018 and bring it to the National Assembly for discussion in May and October.
The ministry expected that the proposed law would be passed and come into effect from the beginning of 2019.
According to Nguyen Quoc Hiep, chairman of the Viet Nam Association of Construction Contractors, the draft amendments must be given careful consideration because regulations in the construction sector were causing problems for firms.
Hiep said that it took his company three months to get the construction permit for a project of 42 townhouses due to the lack of clarity over whether district or provincial authorities had jurisdiction to grant the permit.
In addition, small changes in construction plans should not require a new permit, Hiep said.
“Simplifying administrative procedures in construction and real estate sector is really urgent,” Hiep said.
Source: VIR
Related News
EVFTA DEEPENS VIETNAM-EU RELATIONS AFTER SIX YEARS
The EVFTA acts as a vital economic highway to boost trade between Vietnam and EU. In 2019, the Vietnam – EU two-way trade stood at $49.8 billion. This figure rose to $74 billion by the end of 2025. In the first six months of 2026, two-way trade between Vietnam and the EU totalled $41.7 billion. Vietnam's exports to the EU reached $31.8 billion, while imports from the bloc stood at $9.9 billion.
AMRO UPGRADES VIETNAM GROWTH FORECAST TO 7.5 PER CENT
AMRO released its July 2026 Quarterly Update of the ASEAN+3 Regional Economic Outlook on July 27, projecting Vietnam to grow 7.5 per cent in 2026, up from its June forecast of 7.2 per cent. AMRO also raised its growth forecast to 7.3 per cent in 2027, up from its June forecast of 7 per cent, while revising down its inflation forecasts to 4.3 per cent in 2026 and 3.9 per cent in 2027.
VIETNAM APPROVES ROADMAP FOR INT’L FINANCIAL CENTERS THROUGH 2035
Vietnam has approved a development plan through 2035 for its international financial centers, with the one in Ho Chi Minh City positioned as a comprehensive global financial hub. Deputy Prime Minister Nguyen Van Thang, chairman of the governing board of the Vietnam International Financial Center, has signed the decision approving the development plan.
REMITTANCES TO HO CHI MINH CITY TOP $4BN IN H1 2026
Remittances sent to Ho Chi Minh City topped US$4 billion in the first half of 2026, down nearly 23 percent year on year, despite a modest recovery in the second quarter. The city received more than $2.03 billion in remittances in the second quarter. Tran Thi Ngoc Lien, deputy director of State Bank of Vietnam’s region 2 branch, said the second quarter was the first quarter this year to see remittances to Ho Chi Minh City increase from the preceding quarter, although the pace of recovery remained modest.
GLOBAL BEAUTY BRANDS EYE OPPORTUNITIES IN VIETNAM
Vietnam’s fast-growing beauty and personal care market is attracting thousands of international brands, with a major industry exhibition in Ho Chi Minh City bringing together more than 3,000 brands from over 24 countries and territories. The Vietbeauty, Cosmobeauté Vietnam and Beautycare Plus 2026 exhibitions officially opened in Ho Chi Minh City on Thursday, bringing together 600 exhibitors from Japan, South Korea, the United States, France, Singapore and Vietnam, among others.
HCM CITY PRIORITISES LOGISTICS INFRASTRUCTURE TO RAISE DIRECT IMPORT-EXPORT THROUGHPUT ABOVE 80%
HCM City aims to increase the proportion of imports and exports handled directly through its seaports, airports, railway terminals and inland container depots (ICDs) to more than 80 per cent during the 2026-30 period. With measures revolving around investment in integrated logistics infrastructure, multimodal transport expansion and digital transformation acceleration, the strategy is intended to reduce logistics costs, enhance competitiveness and support sustainable growth in external trade.
























