Data compiled by Savills Vietnam, a global property services provider, shows transactions for apartments priced under VND20 million ($860) per square meter surged 38 percent year-on-year in the second quarter to 2000. However supply in this segment dropped 8 percent during the same period. CBRE Vietnam, a commercial real estate services and investment firm, said more than 6,100 new apartments were put on sale in the city in the second quarter, down 36 percent year-on-year. The strongest decrease of 62 percent was recorded in the mid-range segment -- apartments ranging between VND18.6-34.9 million per square meter (as defined by CBRE Vietnam). Explaining the supply shortage, CBRE Vietnam cited the deadly fire at the Carina apartment complex last March that killed 13 people, which prompted authorities to tighten their management of all such development projects, leading to more complicated and longer procedures. The fire also caused property investors to be more cautious in launching … [Read more...] about In Saigon, supply fails to meet demand for mid-range apartments
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Vietnam sentences 5 to death, 4 get life for drug trafficking
The leader of the gang, Nguyen Van Phu, 54, and four of his henchmen aged 27-58 got death for "illegally trading and trafficking narcotics." The four to get life for the same charges are aged 26-45. Three others received jail sentences of five to 20 years. According to the indictment, Phu frequently traveled to Cambodia as part of his job, and became acquainted with drug suppliers in the neighboring country. He and his former jail associates, Nguyen Thi Be and Nguyen Hung Loc, then set up a gang to traffic drugs from Cambodia to Ho Chi Minh City. The gang first appeared on the authorities’ radar when customs officers at Moc Bai Border Gate in the southern province of Tay Ninh caught Be and Loc trying to enter Vietnam with 2.1 kilograms (4.6 pounds) of heroin in 2015. Be was later sentenced to death for drug trafficking, but Loc managed to escape and warn Phu, enabling him to evade arrest. Phu was eventually tracked down in November 2015 after police arrested one of his buyers in … [Read more...] about Vietnam sentences 5 to death, 4 get life for drug trafficking
6 Common Misconceptions About Credit Cards
Do you know you should not hold too many credit cards? If you think it’s because it will hurt your credit score, then you, like many others, have misunderstood how credit cards work. Despite the rising popularity, many people these days still hold on to wrong notions about credit cards. There are many aspects of these cards that are still generally misunderstood. It’s not the credit cards, but these misconceptions that can cost you dearly. Check out some of the most common misconceptions about credit cards: Do not accept an increase in your credit limit If you are punctual with the payment of your credit card bill, your card issuer may offer an increase in your credit limit. You may think that the bank is trying to trick you into spending more. However, you can use this opportunity to your advantage. If you accept the increase in your credit limit and continue to spend the same amount … [Read more...] about 6 Common Misconceptions About Credit Cards
High-school students get ready for national examination
Illustrative Image (Source: VNA) Hanoi (VNA) – High-school students across the country on June 24 finalised all procedures to get ready for the three-day national high school exam that will begin on June 25. This year, the examination, whose results will be used for high school graduation and university entrance consideration, draws 925,972 students. Of the total, 237,326 students only sit the examination for high school grduation, while 624,379 others register for both high school graduation and university entrance, and 46,087 students take the exam to run for university seats. This year, the exam has several new features compared to 2017, including a reduction in resting time between tests from 20 minutes to 10 minutes. Students can choose natural science subject group or social science subject group, but those who registered to take both groups must finish all tests or their results will not be recognised. Since 2015, high school graduation and university entrance … [Read more...] about High-school students get ready for national examination
VIB launches premium World MasterCard credit card
Clients register for opening credit cards at a VIB branch in Ha Noi. — VNS Photo Vietnam International Commercial Joint Stock Bank (VIB) last week launched a premium credit card —VIB World MasterCard. The card provides special offers on dining, travelling, relaxing and shopping to cardholders who often go on business or travel aboard. By now, banks in Viet Nam have introduced many kinds of credit cards designed to meet the needs of each group of customers, ranging from common consumers to businesspeople. “VIB World MasterCard credit card has been designed for the convenience and benefits of cardholders, specifically those who often travel within the country or abroad, be it for personal or business reasons,” VIB said in a statement. VIB World MasterCard cardholders can use a credit limit of up to VND1.2 billion (nearly US$53,000), with an interest rate of zero per cent within 55 days. Cardholders can get many offers at airports, such as free services up to … [Read more...] about VIB launches premium World MasterCard credit card
More private universities get approval for medical courses
Viet Nam News HCM CITY — The Ministry of Education and Training has permitted more private universities to offer medical courses starting in 2018-19. Nguyễn Tất Thành University was the first in HCM City to get approval, and it will take in 50 students this year. According to the university’s website, it is working with many city hospitals, including Chợ Rẫy, Paediatrics Hospital 2, Từ Dũ Obstetrics Hospital, Military Hospital 175, Thủ Đức Hospital, to get internships for its students. This year the university has also added two other new faculties, medical physics and bio-medical engineering. According to Prof Nguyễn Công Khẩn of the Ministry of Health’s Administration of Science, Technology and Training, the country faces a shortage of medical physicists even as many advanced techniques are being introduced in the country. Medical physicists play an important role in image … [Read more...] about More private universities get approval for medical courses
Trung Luong-My Thuan Expressway to get funds for construction in May
Trung Luong-My Thuan Expressway to get funds for construction in MayLe Anh The Trung Luong-My Thuan Expressway will be developed to connect to a 40-kilometer expressway connecting HCMC and Trung Luong of Tien Giang Province, which is seen in this file photo - PHOTO: LE ANH HCMC – The investor of the Trung Luong-My Thuan Expressway project is in talks with five banks to take out funds next month for developing the long-delayed project, heard a meeting between the investor and authorities last weekend. Vu Tuan Anh, deputy director of the Public-Private Partnership Department under the Ministry of Transport, told the meeting that the lack of capital is the biggest problem arising in the execution of the project. The problem is to be smoothened out soon as the investor is in talks with banks for the needed capital, Anh told the meeting between the project investor, the Ministry of Transport and Tien Giang Province’s government. The project requires a total investment … [Read more...] about Trung Luong-My Thuan Expressway to get funds for construction in May
Vietnam’s Nutifood earn US approval for baby nutrition drink
A nutritional dairy food manufacturer has become the first-ever 100 percent Vietnamese company to earn approval for the export of special nutrition products to the U.S. Nutrition Food JSC, or Nutifood, will have its ready-to-drink special nutrition formula for children with oral aversions, branded Pedia Plus, on sale at 300 supermarkets in the U.S. starting this year, following an agreement closed Thursday with U.S. food product supplier Delori. Oral aversion is a symptom of reluctance, avoidance, or fear of eating, such as a baby's refusal to breastfeed. Nutifood has become the first Vietnamese firm that is entirely domestically owned to be permitted to export this product type to the U.S. Nutifood chairman Tran Thanh Hai (left) and Delori chairman Jaime Brown sign the agreement at a ceremony in Ho Chi Minh City on January 18, 2018. Photo: Tuoi Tre Nutifood chairman Tran Thanh Hai said it took the company more than a year to negotiate with its American partner and invest in … [Read more...] about Vietnam’s Nutifood earn US approval for baby nutrition drink
Freelance workers to get occupational accident insurance
Freelance workers to get occupational accident insuranceThuy Dung By Thuy Dung - The Saigon Times Daily HCMC – The Government would fund half of the cost for freelance workers in the informal sector to get insured for occupational accidents, according to the draft Law on Occupational Safety, which is under discussion at the National Assembly and expected to be passed at the ongoing NA sitting. The information was unveiled by Ha Tat Thang, head of the Department of Occupational Safety under the Ministry of Labor, Invalids and Social Affairs, at a recent seminar on main contents and updates of the draft law. Thang said the draft law suggests the State fund 50% of the occupational accident insurance premiums for non-contract employees. As estimated, if one million freelance laborers apply for insurance, the State would spend some VND700 billion a year. For contract laborers, the employer should pay 1% of insurance premium for the occupational accident insurance … [Read more...] about Freelance workers to get occupational accident insurance
Local firms urged to get ready for FTA with Australia, NZ
Local firms urged to get ready for FTA with Australia, NZBy Mong Binh - The Saigon Times DailyHCMC - Trade experts have called for Vietnamese companies to get prepared for the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), which is expected to take effect from early next year.Nguyen Hong Ha, deputy director of the Vietnam Chamber of Commerce and Industry (VCCI) in HCMC, said that in addition to the support of Government agencies, companies should be active and creative in exploring the “The chance is in the hand of businesses,” Ha said at a news briefing in HCMC last week, which was also attended by Australian consul general Graeme Swift and New Zealand consul general Graham Sims.Australia’s senior trade commissioner Tony Burchill said the pact would lift most tariffs when it came into force, hopefully no later than January 1, 2010.Burchill said 90-100% of tariff lines would be eliminated for Vietnam and other ASEAN nations and that Australia and New … [Read more...] about Local firms urged to get ready for FTA with Australia, NZ