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BUSINESS
IN BRIEF 1/5
Korean agriculture,
an extraordinarily efficient and good mix of traditional farming methods
mixed with modern technology, was the topic of discussion at a meeting in
At the event,
Deputy Prime Minister Vu Van Ninh told Chairman of the Coordinating Committee
of Vietnam-RoK development partnership programme Jun Kwang Woo
The Vietnamese
Government always looks forward to exploring new and novel cooperation
ideas, creating favorable condition for both nations to boost their
economies, he said.
The RoK has become
one of the most important trade partners of
Jun Kwang Woo said
in turn that the RoK is more than willing to share experiences and
strengthening cooperation in agriculture and rural development, particularly
in new rural construction.
He also expressed
his strong desire that
The decline in
agriculture, mirrored by the rural exodus, as the nation moves to a more
industrialised society is undermining the nation’s economy as a whole, as
many parts of the country are left behind.
Although
agriculture continues to play an important part in the national economy,
official statistics reflect the sector’s growth has slowed in 2014, a little
bit lower than the figure of 2.67% in 2013 and 2.68% in 2012 and 4% in 2011.
In context, the
demand and prices for farm produce and commodities began to taper off sharply
in 2013 compared to prior years and the trend is continuing in 2014.
As prime examples,
in 2013 the price of rice, coffee and rubber commodities decreased by 18.7%,
26.6% and 11.7% respectively.
Prime Minister
Nguyen Tan Dung attributes the slow growth of the agricultural sector to an
overabundance of small-scale family farms combined with an insufficient
number of large scale production farms, lack of coordination within the
sector to work for the common good, and low productivity and poor quality.
Given the backdrop
of low demand, low prices and the context of fierce international
competition, industry experts predict the growth of the agricultural sector
to remain stagnant in line with a slow pace in the development of production
methods and competitive edge of farm produce.
Nguyen Do Anh Tuan
from the
These shortcomings
have directly led to the hesitancy of domestic and foreign businesses to
invest in the agricultural sector, he said.
The World Bank (WB)
in turn points to the lackluster labour productivity growth in the
agricultural sector, which is significantly lower than comparable figures
from
The productivity
growth in the agricultural sector only increased from US$200 per capita per
year to nearly US$400 per capita per year from 1985 to 2011, the World Bank
reports, the lowest level in the ASEAN region.
Factually,
However, without
huge investments from the business community, these solutions lack
practicality and cannot help the agricultural sector develop effectively.
Richard F. Doner,
from the Political Department of the Emory University emphasises that
upgrading the value chain is extremely difficult as implementing new
technology is much easier said than done, requiring not only huge investment
of money but significant training and development of human resources.
Therefore, the
government needs to concentrate on devising a more practical and proper
mechanism to solve these difficulties, he said adding that the formulation of
policies should be initiated in a highly coordinated manner by government
agencies, research units, business associations, and public-private
consulting companies.
Meanwhile, Tuan
said that restructuring the agricultural sector should focus on renovating
management by clearly delineating those fields and services which will be
administered by the state, leaving the remainder to the private sector.
Additionally, there
should be carefully thought out and crafted policies to facilitate the
privatisation of the agriculture sector and the establishment of associations
to coordinate activities of the sector, he concluded.
Last but not least,
Ms Jayati Ghosh, an Economics Professor from
Private sector
production is the key to agricultural success, and capitalizing on that, a
stable farm produce value chain can be constructed, bringing a practical
sustainable and stable production model to agriculture, she concluded.
Economic
forum develops practical solutions for 2014
Experts attending
the Spring Economic Forum have examined the status of the economy and come up
with a number of practical solutions for buoying up the economy which has
already bottomed out and is on track to recover.
Participants at the
April 28-29 forum in Quang Ninh province shared the view that the economy has
weathered the storm and begun to see positive improvements.
The GDP growth rate
increased in a quarterly basis; inflation was kept at a low level; Quarter 1
ended with a US$1 billion trade surplus; and the foreign currency market
remained stable.
Industrial
production began to pick up, with an increasing number of businesses resuming
operation and new businesses registering for the first time. Thanks to low
interest rates, more businesses are now accessible to bank loans to maintain
production.
All the same, many
experts were quick to caution that many challenges are still lying ahead.
They cited low aggregate demand as a key factor that affects the health of
the economy, especially private businesses.
Nguyen Van Giau,
Chairman of the National Assembly Committee for Economic Affairs, pointed out
that State employee incomes have stagnated and have not increased over the past
two years, showing the aggregate demand of the society is rather low.
Experts at the
forum also discussed market difficulties, including a lack of adequate
policies for implementing a VND30,000 billion stimulate package for the real
estate market and the thorny problem of not adequately dealing with
non-performing loans.
They agreed that
economic restructuring that began a year ago has not met expectations,
especially for State-owned enterprises and big economic groups.
Although the public
debt is within safe limit approved by the National Assembly, it still remains
high. It is important for the State to balance budget to pay debts and ensure
expenditure structure to promote economic development.
The State has
issued a large amount of bonds, 80% of which have been bought by credit
organisations, slowing down capital for production and trading.
The forum also
dealt with many other social issues, including labour, employment, education
reform, epidemics, and unemployment
Experts proposed
that the government mobilise all resources to address pending issues, with a
primary focus on economic restructuring, especially in agriculture.
They underlined the
need to put FDI allocation under the microscope, giving priority to essential
areas and products of higher added value.
Some experts
proposed introducing a more flexible exchange rate policy to fuel economic
growth, supporting businesses in accessing market, and evaluating the
comprehensive impact of the new integration process, taking into account
Vietnam-EU Free Trade Agreement negotiations, the establishment of the ASEAN
community in 2015 and Trans-Pacific Partnership (TPP) agreement negotiations.
Many participants
also agreed that institutional reform costs less but faces the most
difficulty as it must be carried out in all fields and levels.
Meeting
realizes Vietnam–Singapore connectivity agreement
At the meeting,
co-chaired by Vietnamese Minister of Planning and Investment Bui Quang Vinh
and Singaporean Minister for Trade and Industry Lim Hng Kiang, both sides
reviewed their achievements in the six cooperation areas of finance,
education and training, transportation, information and communication
technology, investment, trade and services.
They also discussed
new measures to expand economic cooperation in line with each country’s
potential and strengths, including the development of
Under VSAEC signed
in 2005,
The 11th
ministerial meeting on economic connectivity will be held in
Lang Son,
Chinese localities strengthen cooperation
Businesses from
Lang Son province are attending the 9th Exhibition on Cultural Products in
They are displaying
a wide variety of high quality Made in
They partook in a
number of seminars and activities that helped increase their understanding of
their Chinese counterparts, and get updated on new products and recent
developments in the marketplace.
Yiwu is considered
the world’s biggest retail market by the United Nations and the World Bank.
Yiwu International
Trade Zone, which covers 5.5 million sq.m, has a special zone for 10 ASEAN
countries, including
Vietnamese
products, including handicrafts and food, are favoured by Chinese and
international wholesalers.
During their stay,
Chairman of the Lang Son City People’s Committee Bui Van Coi and Chairman of
Yiwu City He Mei Hua signed a framework agreement to promote bilateral
cooperation in agriculture, forestry and consumer goods manufacturing.
Attracting
more Korean investment into Can Tho
The Mekong Delta
city of
Speakers highlighted
investment advantages in the City’s industrial zones and high-tech parks in
addition to the Tan Loc and Con Son eco-tourism sites.
They specifically
identified manufacturing, agriculture, and civil construction as key areas of
ideal investment matching the strengths of both the city and the Korean
business community.
A Vietnam-RoK
technology nursery project launched in late 2013 at Tra Noc Industrial Zone
with total investment capital of US$21.13 million was touted as a prime
example of the successes that Korean businesses have experienced.
Once completed, the
project will help regional aquaculture, and agricultural and seafood
processing businesses access advanced technologies to raise the quality and
value of products.
With the project,
Can Tho will have a research and development centre for agricultural and
seafood processing and mechanical engineering to promote its agricultural
advantages and potential.
Japanese investors
are pulling out of the Vietnamese shrimp market due to excessively high
levels of oxytetracycline (OTC), according to the Vietnam Association of
Seafood Exporters and Producers (VASEP).
The decision was
made due to the continuing detection of unacceptably high levels of OTC in
shrimp shipments, despite prior warnings and the fact that it is public
knowledge that virtually all Vietnamese shrimp exports are inspected for the
antibiotic.
VASEP said that the
Japanese importers are considering importing shrimp from
VASEP warns that
unless local shrimp businesses strengthen self-regulation of OTC they will
fail to penetrate the Japanese market.
Still tough
to access home loan program
The Ministry of
Construction has proposed adding more beneficiaries to the VND30-trillion low-interest
home loan program initiated by the Government, but real estate enterprises
still find lending requirements complex and attribute this to a slow pace of
disbursement.
Deputy Minister of
Construction Nguyen Tran
The suggestion is
not new, however, as some enterprises are doing what he proposed but
homebuyers have to shoulder normal interest rates.
Le Ngoc Giau,
general director of Tan Hung Investment Joint Stock Company, said homebuyers
had signed up to buy many of over 600 apartment units launched by the firm
recently. However, they have had to take out normal loans from banks rather
than low-interest credit from the stimulus program.
As each condo is
measured at 84 square meters, exceeding the 70-square-meter limit set by the
VND30-trillion program, homebuyers cannot apply for loans at interest rates
lower than commercial ones. Nonetheless, each unit is priced at less than
VND1 billion, so the investor is ready to give homebuyers 14 square meters
for free, meaning customers have to pay for 70 square meters only, Giau said.
Nguyen Van Duc,
deputy director of the Dat Lanh Real Estate Company, told the Daily that that
there should be just a single price requirement of below VND1.05 billion
instead of the size and unit price requirements as currently applied.
However, Duc said,
this should have been put in place last July or August.
The conditions
applicable to the stimulus program, if relaxed, will help solve part of
people’s housing demand.
The Government
should have policies to encourage enterprises develop small units of 40-50
square meters each. HCMC is now coping with a limited supply of small-sized
homes due to the rising population, Duc added.
Le Hoang Chau,
chairman of the HCMC Real Estate Association, said the new suggestion was
only suitable to housing products in HCMC,
For instance,
residents in the Mekong Delta can buy a high-end apartment or even a villa
for just VND1.05 billion. If one owns a villa, they are not considered
low-income earners, so they are not eligible for the home loan program.
Nguyen Vinh Tran,
general director of Nam Long Investment Joint Stock Company, said the
requirements are still far from reality.
The firm’s
Ehome4-Saigon North project in
Therefore, Tran
suggested the ministry lift the regulation on citizenship status to assist
home investors.
Figures of the
ministry showed participating banks in the VND30-trillion program had
disbursed nearly VND1.7 trillion as of mid-April.
Haiphong’s Do Son
casino saw profits for nearly a decade, but in 2008 started incurring
consistent losses totalling VND169 billion ($8 million) by 2012.
The news was released
at a recent meeting on reviewing the five-year implementation of the
Resolution of the tenth Central Party Committee meeting on continuing to
perfect a socialist-oriented market-based economy.
The report states
that Do Son casino, licensed in 1992 as
But in 2008 it
started seeing losses that amounted to $8 million as of 2012. The casino has
paid an average of VND23.5 billion ($1.1 million) in taxes each year.
As of 2013, it
employed 417 workers, 394 of whom were Vietnamese and the rest foreigners.
Despite its poor
performance in recent years, the casino’s employees still enjoy quite a high
rate of pay. Vietnamese managers earn an average of $800 per month while the
foreign managers take down around $2,300.
Do Son beach and
Cat Ba are
According to a
National Assembly Finance and Budget Commission report released in February,
Ho Tram casino - a major gambling venue in the country in southern Ba
Ria-Vung Tau province – reported revenues of $5.5 million with 35,877
visitors in just seven months operating. In that time, Ho Tram has already
paid more than $2.8 million to the state budget.
The Ministry of
Finance's figures show that the now five trial casinos, based in Haiphong,
Lao Cai, Danang and Quang Ninh, have posted total revenue of VND930 billion
($44 million).
SMEs
struggling to borrow while banks sitting on huge cash piles
Banks are sitting
on huge cash piles at the moment but gaining access to loans is no easy task
for small and medium enterprises (SMEs), according to the 2030 Businessmen
Club under the Saigon Times Club.
SMEs said at a
seminar at the Saigon Times Group office in HCMC last week that they had
found it extremely tough to ask banks for a loan though banks said they had
ample cash to lend.
Nguyen Ngoc Ha,
director of HD Bank’s Nguyen Trai branch, said many SMEs had failed to meet
banks’ lending requirements. Banks often have a different approach to working
with SMEs, he said, noting a good business plan and a good financial
statement would not suffice.
Banks, he said,
know enterprises always have at least two financial reports with one for lenders
and one for the taxman. Some enterprises even have more than two reports, Ha
said.
Before deciding on
a loan, banks should look into the fields where the borrower is active and
how the management of the borrowing firm behaves, he said.
Banks also look at
the way the borrower manages their cash flows, deals with unforeseen
circumstances, and uses their long-term and short-term capital, he added.
Ha Xuan Anh,
chairman of Son Viet Garment JSC based in HCMC, said lender banks always
asked his firm whether it had assets for collateral to take out loans.
Vung Ro
refinery developer refuses land
The
According to local
newspaper Vnexpress, the investor said the land which the local authorities
tried to turn over to them was not fully cleared.
They explained that
many fisheries were still active on the site.
The chairman of the
Phu Yen Provincial People’s Committee Pham Dinh Cu, confirmed the news,
saying that the land to be handed over to the investor was around 134
hectares in the province’s Dong Hoa district.
“We [the province]
have finished land clearance and compensation procedures and so far have paid
VND100 billion ($4.76 million) for the first phase of the project. But there
are still 15 households and around 20 shrimp ponds that have not yet been
moved,” Cu said.
Cu confirmed that
the investor had reason to refuse the land, as local authorities have been
slow in dealing with the issue. Cu also blamed farmers for continuing to farm
shrimp at the location, despite already receiving compensation.
“The province is
committed to forcing them off the site and giving the land as agreed to the
investor by the beginning of May,” he added.
He continued by
saying that committee would support the investor in its plans to start the
project by July.
Vung Ro refinery’s
EPC contract was signed in October last year between the investor and
Vung Ro Petroleum’s
original investment certificate had a planned output of four million tonnes
of crude oil, but the investor revised this to eight million tonnes to
enhance efficiency.
The complex is
slated to start commercial operations by 2016 and will produce a wide range
of products including gasoline, polypropylene, benzene, toluene, xylene and
diesel. The products will be distributed domestically and exported.
With a total
investment of $3.18 billion, Vung Ro would be the biggest FDI project thus
far in Phu Yen. The investor claimed that once operational the refinery would
contribute more than $110 million per year to the local budget and create
more than 1,300 jobs.
Phenikaa
builds $87 million compound quarzt slab factory in Hoa Lac
Located in
Phenikaa announced
that it signed a technology transfer contract with
According to the
signed contract, the Vietnamese company has got the exclusivity in buying
machine and transferring this exclusive technology from Breton company in
With the optimised
designed production line and, Phenikaa expects it would provide the best
quality and luxury quartz products to Vietnamese and the world market. Right
now, the first phase of the manufacturing facility is under the construction.
The manufacturer expects to start its mass production in June 2015.
Vingroup
announced incentives on office leasing
Vincom Office
Company, an arm of Vingroup has announced its special lease programme named
“Golden
Under this
programme, from April 15 to July 15, new tenants will benefit from special
incentives and preferential lease conditions when leasing an office space in
the flagship developments of Vingroup being
During this three
month period, new office tenants will be offered special lease incentives
including VIP staff privileges at the building’s facilities and complementary
services, with specific terms and conditions applying to each project.
Accordingly Vincom
Office Company provides flexible office solutions, accommodates demand from
100m2 to 4,000 m2 on a single floor area, in addition to impressive ceiling
heights, spacious floor layouts, efficient vertical transportation and
amenities at international standards, combined with a smart underground
parking system covering a total area of over three hundred thousand square
meters.
These office
components are all integrated within multi-purpose developments that provide
banking, healthcare, modern residential living, shopping, leisure and dining
outlets. This unique all-in-one offering, combined with prime locations
ensures that
This incentive is
applied for a range projects including the whole floor area of the second
floor of Royal City, Times City; a part of R6 (Royal City); 5-storey building
- Tower 1 (Times City) and office space at Vincom Center Dong Khoi, all are
in prime locations.
Vincom Office
Company is a member of Vingroup - a leading commercial property company that
provides international standard office management and marketing; established
in 2013. Vincom Office currently manages office space in three major
developments:
Lotte gets
nod to build $2 billion Smart Complex
Lotte Consortium –
a joint venture between
The $2 billion
complex is planned for 2A area in the Thu Thiem New Urban Area in
According to Kim
Min Geun, vice president, head of Overseas Mixed Used Development Division of
Lotte Asset Development, Lotte Centre Hanoi and the Smart Complex are key in
the company’s Vietnam development plans and Lotte aims to lead international
development in the future with its expertise in mixed-used development.
The Thu Thiem New
Urban Area is being developed by the Ho Chi Minh City People’s Committee to
match up with Hong Kong’s International Finance Centre and
The Smart Complex
is planned as a commercial and residential centre with multiple shopping
complexes, hotels, serviced residences, offices and apartments.
Lotte Consortium
plans to complete the master plan this year and carry out phased developments
as infrastructure construction allows.
The complex will be
pioneered in
This is Lotte’s
second property development planned for Vietnam, following the now
under-construction Lotte Centre Hanoi, slated to open later this year and
which will be the second tallest building in Vietnam with 65-storeys.
Lotte Centre Hanoi,
once open, will feature a 5-star hotel, offices, luxury serviced residences
and an observation deck on the 65th floor, which it hopes will be one of the
most visited attractions in
Rise in
The property market
has begun to show positive signs, with a recent increase in capital inflows.
Construction
Minister Trinh Dinh Dung reported that by mid-April, the number of
transactions in the real estate market in
Meanwhile, the
State Bank of Vietnam (SBV) said that by the end of March, investment credit
and real estate business increased by 3.95%, much higher than last years’
figure of 1.09%, for the first quarter.
Foreign capital
inflows into
According to the
Foreign Investment Agency, up until April 20, 2014, the property market
ranked second in attracting FDI with additionally increased and
newly-registered capital hitting US$392.3 million, accounting for 8.1% of
total investment. In particular, an apartment project in
Earlier, in the
first quarter of the year, the real estate market also ranked second in
attracting FDI with additionally increased and newly-registered capital
reaching US$288.3 million, making up 8.6% of total investment.
Nearly a year after
getting its new investment certificate, the multi-million dollar Nha Trang
Bay luxury resort project has yet to restart construction, though the new
developer committed to starting operations within two years.
In May 2013, after
a new investment certificate was signed for the VND1.2 trillion ($57 million)
resort project, formerly named Rusalka and now named Champarama Resort and
Spa, the developer – Focus Travel Nha Trang JSC – committed to opening the
project two years later.
In actuality, the
project was first suspended nine years ago in 2005, and still it faces the
same problems it did then and has even added a few to the list.
One of the main
reasons behind the delay was its conflict with Nha Trang Bay plans, currently
in development by the Khanh Hoa province People’s Committee, said Vo Tan
Thai, director of the province’s Department of Planning and Investment.
There have been
different opinions on plans for the bay, particularly a great deal of
opposition from the Ministry of Culture, Sports and Tourism, as well as
scientists and architects, as several investment projects are not correlative
with the Law on Cultural Heritage.
According to Thai,
at present there is no word on as to when the project will restart
construction.
“The planning
issues have been resolved, but many procedures have yet to be completed. At
present, the developer is still working on getting a building permit to
restart the project,” he added.
Another pending
issue is a debt from the old developer – investment and tourism development
company Rus-Inves-Tur (RIT).
To take up the
project, the new developer Focus Travel agreed to inherit all of the rights
and responsibilities but also debts of their predecessor.
Some of the debts
have been resolved, but one with the BMC Building Materials Co Ltd. under the
Ministry of Industry and Trade remains outstanding.
The initial debt
was for VND51.6 billion ($2.4 million), but BMC now lists it as VND275.5
billion ($13.1 million).
After the province
granted the project it’s new investment certificate last year, BMC filed
petitions requesting unsettled problems be resolved, particularly debt
obligations, before handing the project to a new developer.
BMC’s complaints
even reached the desk of the prime minister.
Last Thursday,
Khanh Hoa People’s Committee hosted a meeting to settle these issues.
It is expected that
the province will soon issue a document detailing resolutions.
The erstwhile
Rusalka project received the investment certificate in 2000 and was set to
set up a tourism complex spanning 43.5 hectares that cost some $15 million.
It was invested by
RIT, chaired by Nguyen Duc Chi. In 2005 Chi was arrested under charge of
“frauds and appropriation of others’ assets.” The project thus came to a
halt, had its assets frozen and the licence revoked in 2006, and ended up
being liquidated in mid-August 2011, under an order by the prime minister.
In April, 2010,
however, the Supreme Court overturned the accusations against Chi, and all
assets were returned to Chi. Six months later, the prime minister assigned
Khanh Hoa’s authorities to establish new legal entity to continue the project
to ensure the investor’s benefits and reduce financial damages.
RIT’s former
chairman Chi then proposed to have Focus Travel Nha Trang take over the
project, a request that was green-lighted by the coastal province’s
authorities. Focus Travel Nha Trang was chaired by Nguyen Duc Tan, who is
Chi’s brother.
Buying
rental property trends in HCM City
Many in
A recent study by
CBRE Vietnam indicated that the leasing out is an important factor in the
decision to buy a home for Vietnamese people, particularly in
According to CBRE,
the Vietnamese real estate market is facing a continued slump, which makes
for an opportune time to buy houses with an intention to rent them out.
Rental properties can bring investors a stable source of income, and when the
property market recovers, they can sell the houses at a profit.
Truong An Duong,
Savills
The trend is not
new, but has grown stronger in
According to Mr.
Truong Nam Duong, apartment projects in Binh Tan District, District No. 2 and
Nam Sai Gon area have attracted the most customers.
The Phu My Hung
urban area located, at Nam Sai Gon, is one of the most desirable apartment
projects in
Policies to
revive property market
The state has
offered credit packages for the local real estate market and will amend more
regulations and policies to promote further recovery in the local market,
noted experts.
During an online
dialogue on the property market 2014: opportunities from policies held by the
dddn.com.vn, the online Dien dan Doanh nghiep newspaper yesterday in Ha Noi,
Phan Thanh Mai, the general director of the Bank of Construction, stated that
the local property market has shown positive development over the past few
months, including financial solutions from banks – VND30 trillion and VND50
trillion stimulus packages.
The VND30 trillion
package, one of the government programmes, is aimed at providing credit for
social housing projects. The package will help investors develop the social
housing segment to meet the people's demands and help to push down the prices
of housing apartments, thereby creating conducive factors to remove
stagnation in the local property market, Mai added.
Meanwhile, the
VND50 trillion package, which was recently released, is a commercial credit
package for contractors, investors, and building material producers in the
property sector, he remarked.
Banks will manage
credit to use the money for the right purposes. The state expects that with
the introduction of the package, investors will have more investment capital
and the prices of building material products will also drop. Thus, the prices
of houses and apartments will have a chance to fall against the current
prices.
The state expected
that the package would provide needed capital for unfinished property
projects, Mai reported.
The two credit
packages were aimed to achieve different purposes and expected to boost the
market, he added.
However, according
to Nguyen Huu Cuong, the chairman of the Ha Noi Real Estate Club, experts and
even members of the National Assembly are of the viewpoint that disbursement
of the VND30 trillion package is slow.
The slow
disbursement might not mean that is unsuccessful, Cuong pointed out.
The package for
social apartment projects, including buyers and investors with low interest
rates, was issued at the right time when the market had fallen into serious
crisis, he claimed.
The slow
disbursement of the package was partly due to slow reaction by the people and
enterprises towards the package, while on the other hand, procedures on appraising
and approving the projects had been carefully implemented, he noted.
The package, a
financial tool by the Government, had positive effects on the securities
market to push the VN Index from 397.6 points at the end of 2012 to 569.87
points on Tuesday and lured US$21.6 billion investment into the property
sector, he emphasised.
This support from
the Government helped the local property market to cover losses and aided the
development of the apartment segment having a selling price of around VND20 million
per square metre. The package had saved 61,000 enterprises having thousands
of property projects to avoid closure and bankruptcy, he explained.
Therefore, the
package is expected to prove its efficiency in the future, as the package is
effective until 2020.
Additionally,
according to Nguyen Manh Ha, the director of the House Management Department,
under the Ministry of Construction, the ministry and related ministries and
sectors will amend the laws on trading property, construction, and housing to
deliver more houses for the people and encourage all the economic sectors to
invest into property products for the people.
Those laws will
help people of the low-income group to own apartments and help the property
market to have transparent development.
Cuong remarked that
the amendment of the laws would abolish the administrative barriers for site
clearance, create transparency in the market, and increase the prices of
property products.
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Tư, 30 tháng 4, 2014
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