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Cocobay's breaking its commitment of 12 percent profit has lowered the confidence of condotel investors. The resort real estate market has been shocked by the information that the developer of the 51 hectare resort and entertainment complex in Da Nang – Cocobay – announced the termination of payments of committed profits for condotel products due to financial difficulties. The resort real estate market has been shocked by the information that the developer of the 51 hectare resort and entertainment complex in Da Nang – Cocobay – announced the termination of payments of committed profits for condotel products due to financial difficulties. Later, the developer lowered the committed profit from 15 percent to 8 percent. However, even with the profit cut by half, the developer also cannot pay in recent years. In May 2019, Bavico buyers lodged complaints to a series of agencies, asking for help as they did not receive the committed profit for a long time. … [Read more...] about The short ‘honeymoon’ period of VN condotel market

The path for domestic and international investors like Saigon Newport and Lotte to join railway projects in Vietnam remains arduous, urging authorised agencies to make more positive changes to unlock private investment.  Specifically, VNR proposed to the MoT to hand over 297 railway stations, warehouses, inland container depots (ICDs), and all the assets of the Da Lat-Trai Mat railway route to the giant to own, use, and develop, with the assets to be recorded as state capital contribution to the operator as ruled in Article 5(1a) of Decree 46/2018/ND-CP governing the management and use of railway infrastructure assets. Meanwhile, the remaining assets, including bridges, tunnels, rail system, signal systems, and others, should be handed over to VNR to manage, use, and develop without being recorded as state capital contribution to the operator as ruled in Article 5(1c) of Decree 46. Approving these points would break with many previous rules in the railway sector (as these assets … [Read more...] about Railway development yet to overcome legal hindrances

Farmers harvest tea at Dong Hy District in the northern province of Thai Nguyen, which is one of the provinces growing tea for export. — VNA/VNS Photo Hong Ky About 14,200 tonnes of Vietnamese tea, worth over US$22.5 million, was shipped to Taiwan between January and September, marking a year-on-year increase of 6.1 per cent in volume and 8.3 per cent in value. Taiwan’s tea imports exceeded 24,000 tonnes worth $60 million in the nine-month period. Taiwan mostly purchases green tea from Việt Nam and Japan, with the amount from Việt Nam accounting for 84.1 per cent of the total import. According to Chairman of the Vietnam Tea Association Nguyễn Hữu Tài, Việt Nam has 125,000 hectares of tea farms, mainly in the northern provinces of Thai Nguyen, Ha Giang, Phu Tho, Tuyen Quang and Yen Bai, and the Central Highlands province of Lam Dong. He said Việt Nam has the world’s second largest area producing tea, behind China. The country … [Read more...] about Viet Nam’s export of tea to Taiwan up

Other News Local G-bond market value reaches over 25% of GDP The Saigon Times Daily Wednesday,  Dec 11, 2019,16:02 (GMT+7) Local G-bond market value reaches over 25% of GDPThe Saigon Times Daily Some G-bond notes issued by the Ministry of Finance. The size of the local G-bond market is equal to 25.1% of the country’s GDP – PHOTO: TL HCMC - The size of the local Government bond (G-bond) market by the end of last month was equal to 25.1% of the country’s gross domestic product in 2019, marking a 12-fold increase over 2009, stated Phan Thi Thu Hien, director of the Ministry of Finance’s Department of Banking and Financial Institutions. At a conference on the 10-year development of the G-bond market, held in Hanoi on December 10, Hien noted that the local G-bond market has developed significantly in terms of size and liquidity and has played an important role in capital mobilization, news site … [Read more...] about Local G-bond market value reaches over 25% of GDP

  Police guard the scene of the house where a fire broke out on Tuesday night, killing four family members in the central highland province of Lâm Đồng. Photo baolamdong.vn LÂM ĐỒNG — Four members of the same family, including two children, have died after a house fire in the Central Highland province of Lâm Đồng. The blaze broke out at 7.45pm on Tuesday night in Đạ Tẻh Town in Đạ Tẻh District. Two adults, 22-year-old K’Nhân and his wife – 24-year-old Tô Thị Hiền, were killed, along with their children, identified as two-year-old Ka Mộc Trà and new-born Ka Thảo Nguyên. Trà was pronounced dead at the scene. The three members were rushed to the provincial hospital for emergency treatment, but died later. Bùi Văn Hùng, chairman of Đạ Tẻh District’s People’s Committee said the … [Read more...] about Family of four killed after house fire