Special mechanism for Long Thanh airport project gets thumbs-up

HCMC – Prime Minister Nguyen Xuan Phuc has told the Ministry of Transport to design a special compensation, support and resettlement mechanism for the Long Thanh airport project in Dong Nai Province, the Vietnam News Agency reports. The ministry should coordinate with the Ministry of Natural Resources and Environment, the government of Dong Nai Province, and relevant agencies to map out a plan for compensation, support and resettlement, treat it...

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Chinese contractors sue Vietnam hydropower project owner

HANOI - A consortium of Chinese contractors has filed a case against the Vietnamese owner of the Upper Kon Tum hydroelectric project for termination of the contract, according to a report which the Government has passed to the National Assembly. The report deals with two hydropower projects – Song Bung 4 and Upper Kon Tum. Vinh Son-Song Hinh Hydropower JSC (VSH) is the owner of the Upper Kon Tum hydropower project on the Dak Nghe River, the...

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What Are the Forms of Public Private Partnership (PPP) in Vietnam?

Public  Investment  Law  No.  49/2014  /  QH13  issued on  June  18th,  2014,  effective  January  1st, 2015 and Decree No. 15/2015 / ND-CP on investment  in the  form of public-private partnership issued February 14th, 2015, effective April 10th, 2015 has been expected to help overcome one of the  biggest  obstacles  in  the  attraction  of...

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Ministries want guidelines for conditional business regulations

HCMC – Several ministries and departments said they want guidance for implementing regulations on conditional businesses that are prescribed in the Law on Investment that has been approved by the National Assembly (NA) Unlike other laws, the law amending and supplementing Article 6 and Annex 4 of the Investment Law on the list of conditional business and investment fields is said to be clear and therefore, the Government is not eassignd to issue...

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Experts present three scenarios for property market next year

Experts, speaking at a conference in Hanoi on Tuesday, gave three scenarios for the 2017 domestic property market, with the most likely one being that the market will move sideways. The other two scenarios are that the market will continue growing, which are the least probable, or will go down. The conference on prospects for the real estate market next year was held by Nha Dau Tu magazine, the Vietnam Real Estate Association (VNREA) and Dau Tu...

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Real estate credit up strongly

HCMC – Bank loans for the property sector are estimated at some VND150 trillion (US$6.7 billion) this year, a 14.2% pickup from a year earlier, according the HCMC Real Estate Association (HoREA). The 14.2% spike is the highest in recent years, HoREA said in a report. Meanwhile, the bad debt ratio stays at some 2.6%. The association noted that HCMC-based realty developers also invest in other central and southern localities.    Notably,...

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Thailand may slap anti-dumping tax on Vietnam steel sheets

HCMC – Thailand may impose anti-dumping tariffs of up to 60.26% on color-coated steel sheets imports from Vietnam, according to the Vietnam Competition Authority under the Ministry of Industry and Trade. The Department of Foreign Trade (DFT) under the Thai Ministry of Commerce on December 12 released preliminary results of an anti-dumping probe into Vietnam’s color-coated steel sheets, including painted hot-dip galvanized cold rolled steel, or...

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Construction ministry warns against resort real estate glut

HANOI – Investors should be cautious in resort real estate projects as the strong growth of resort real estate this year may lead to an oversupply in the future, the Ministry of Construction advised. Resort real estate has developed strongly since 2015 with many projects mainly in Danang, Khanh Hoa and Phu Quoc opened for sale, said Pham Van Truong, head of the real estate market management office under the ministry’s Department of House and Real...

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Construction Operation License Instead of Contractor’s Permits for Foreign Contractor in Vietnam

The foreign contractors are only permitted to carry out construction activities in Vietnam so long as being granted construction operation license by Ministry of Construction as per the Construction Law. EPC Contractors have increasingly been interested to learn the requirements of licenses and permits to operate in Vietnam.  It is advised that the construction law firm in Vietnam with lawyers specializing in construction area to assist the...

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TPP withdrawal of The US – Vietnam investment impacts

Improved Legal Environment Will Boost Vietnam Despite Possible Failure of TPP After Donald Trump, the US president-elect issued a note of intent to withdraw from Trans-Pacific Partnership (TPP) trade deal, there is a question raised on the attraction of FDI into Vietnam: would foreign investors continue to flood to Vietnam to set-up company? Vietnam as well as other countries has delayed TPP ratification awaiting for the approval of the US because...

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Korea launches anti-dumping investigation into Vietnam’s alloy steel

HCMC – The Korea Trade Commission (KTC) has decided to launch an anti-dumping investigation into alloy steel imports from Vietnam, Ukraine, and India, according to the Vietnam Competition Authority at the Ministry of Industry and Trade. The KTC decision comes after Korean firms, including Dongbu Metal, Simpac Metalloy, and Taekyung Industrial, which manufacture and sell alloy products, sent their petitions to KTC in September this year. This...

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What lawyers should not promise

In Vietnam, the law has continuously played an important role in the life and contribute to protect and maintain the stability and development of society. In the trend of integration of the world economy, the role of the law has once again been confirmed with a new level in order to contribute to promoting the integration of Vietnam into world economy and opens a new opportunity for those who are practicing law in general and lawyers in particular...

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HCMC more cautious about choosing FDI projects

HCMC has turned more careful in choosing foreign direct investment (FDI) projects so as to avoid those requiring much land and using outdated technologies which are detrimental to the environment, a city official told local media last week. The city authorities even make more careful choices when it comes to projects registered in industrial parks (IP) and high-tech zones, said Su Ngoc Anh, director of the municipal Department of Planning and...

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Worries over housing tax

Suggestions let fly by the Ministry of Finance to collect the housing tax have stirred up objections from many experts who challenge the foundation for such a plan. They argue that the reasons behind the ministry’s intention are not convincible. As covered in local media, the Taxation Policy Department under the ministry has been assigned to flesh out the plan to collect the housing tax, especially those people with two or more houses. Those...

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