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SOEs must complete the sale of shares within four months, photo Le Toan State-owned lender Agribank has been stuck for years with divestment efforts because its real estate assets could not be approved by the Ministry of Finance due to their large size and complex procedures. “At the end of last year, the Ministry of Finance also made a comprehensive assessment on the equitisation goal of state-owned enterprises. Specifically, only about 28 per cent of enterprises were equitised, which means that nearly three-quarters did not meet the plan. The main issue is that many large corporations’ land use rights remain unclear, as can be seen in the cases of VNPT and Agribank,” explained Chu Manh Hung, deputy head of the Equitisation Department at Agribank. “Since the equitisation plan during 2016-2020 has not been completed yet, Agribank will continue carrying out this task for the 2021-2025 period,” he added. “However, there are still major roadblocks hampering the process, … [Read more...] about Divestment slow off the blocks for banks

Roughly 20-30 per cent of the COVID-related shift to digital globally is expected to be permanent, according to a fresh report from Mastercard Put another way: in 2020, e-commerce made up roughly $1 out of every $5 spent on retail, up from about $1 out of every $7 spent in 2019. As COVID-19 kept consumers around the world at home, nearly everything from groceries to gardening supplies was purchased online. For retailers, restaurants, and other businesses large and small, being able to sell online provided a much-needed lifeline as in-person consumer spending was disrupted. Roughly 20-30 per cent of the COVID-19-related shift to digital globally is expected to be permanent, according to Mastercard’s Recovery Insights: Commerce E-volution. Roughly 20-30 per cent of the COVID-related shift to digital globally is expected to be permanent, according to Mastercard’s Recovery Insights: Commerce E-volution. The report draws on anonymised and aggregated sales activity in … [Read more...] about New Mastercard report: E-commerce a COVID-19 lifeline for merchants

The Da Nang Department of Construction has made public a list of commercial housing projects in which foreign organizations and individuals are allowed, or not allowed, to buy apartments or houses. Monarchy resort complex, one of the commercial housing projects that allows foreign organizations and individuals to own housing. This list includes 17 commercial housing projects that allow foreigners to buy and own houses: Blooming Tower Da Nang; Golden Square complex of commercial services, hotels and apartments; Quang Nguyen commercial apartment building; P.A Tower hotel and apartment complex. Apartment building No.38 Nguyen Chi Thanh (Lapaz Tower); Apartment building No. 6 Nguyen Du Street (Danang Plaza); HAGL Lakeview apartment building; Thuy Tu urban area; Monarchy resort complex; Harmony Tower Apartment building; Summit Apartments; An Vien residential area; Da Nang Green Hoa Binh Complex; Tower Garden Apartments; Azura Apartments; Da Nang estate and Da Nang … [Read more...] about Foreigners allowed to buy houses in 17 real estate projects in Da Nang

Vietnam's newly-appointed Minister of Agriculture and Rural Development Le Minh Hoan is determined to boost sustainable development in the Mekong Delta, improve the lives of the region’s farmers, and market its products under an internationally recognized global brand. In a recent discussion with Tuoi Tre (Youth) newspaper, Minister Hoan, who was ratified by the National Assembly on April 8, shared that his goal is to create “responsible agriculture” in Vietnam’s Mekong Delta. According to Hoan, the expansion of the country’s agriculture sector may not be a strong indicator of income growth and quality-of-life improvements for Vietnamese farmers. “Can we truly understand the lives of famers and their financial situations simply by looking at what the agriculture industry has achieved?” Hoan questioned. Sustainable farming During his tenure, Hoan hopes to create a balance between agricultural growth and the quality of life for famers while simultaneously managing the … [Read more...] about Vietnamese agriculture minister dreams of creating world-famous Mekong Delta brand

HCMC meets requirement for loan disbursement extension for second metro line The Saigon Times Workers clear the site for the second metro line project in HCMC. The HCMC government has affirmed that it met the requirement to extend the loan disbursement deadline for the second metro line project in the city - PHOTO: TNO HCMC – The HCMC government has written to the Ministry of Finance, affirming that it met the German Development Bank’s (KfW) requirement to extend the deadline to disburse a loan of 240.75 million euros (US$288 million) for the city’s second metro line project and adjust the time to pay off the loan. According to the city, it signed two agreements with KfW on the loan in 2011, the local media reported. In 2019, when the project’s completion deadline was adjusted, the city proposed the bank extend the deadline to disburse the loan to 2026 and that it would start paying the loan from 2027. However, KfW said it could extend the loan disbursement … [Read more...] about HCMC meets requirement for loan disbursement extension for second metro line