Business

SBV proposes 2.3 billion USD package for real estate revival

The State Bank of Vietnam has submitted a credit package worth of 50 trillion VND (2.3 billion USD) to support the local commercial housing market during its recovery period.
The State Bank of Vietnam has submitted a credit package worth of 50trillion VND (2.3 billion USD) to support the local commercial housingmarket during its recovery period.

The announcement about thepackage being submitted to the Government was made by an official of theMinistry of Construction last week at a seminar in Ho Chi Minh City.

Loans extended from the package will carry an interest rate of 7percent per year for the first 10 years, Deputy Minister of ConstructionNguyen Tran Nam said at a seminar on property trading - Opportunitiesand Challenges in the Recovery of the Market - organised by the VietnamReal Estate Association and the National Economic University.

The loans can get an extension of five or 10 years, with a suitableinterest rate that is adjusted according to existing market situation,he added.

Nam said the local property market has startedrecovering because the number of successful transactions on the propertymarket has risen strongly and the property inventory has been halved,reported BizLive website.

Meanwhile, lending for the propertysector at banks rose sharply to 300 trillion VND (14.1 billion USD),doubling the total value of loans seen at the end of 2012.

At present, 15 banks have been permitted to extend loans from the 30 trillion VND package for social housing projects.-VNA
Follow VietnamPlus

See more

Minister of Industry and Trade Nguyen Hong Dien (L) and US Secretary of Energy Chris Wright in Washington D.C. on March 13. (Photo: VOV)

Vietnam, US look to strengthen comprehensive energy cooperation

Vietnam’s consistent policy is to foster a balanced, sustainable, stable, and win-win economic relationship with the US, the minister stated. Vietnam does not intend to create any barriers that could negatively impact the US’s workers or its economic and national security, Minister of Industry and Trade Nguyen Hong Dien said.

Deputy Prime Minister Nguyen Chi Dung speaks at the first meeting of the steering committee for the building of a project on the private economic sector's development in Hanoi on March 15. (Photo: VNA)

Private sector's development key to Vietnam’s economic growth

Currently, the private economic sector comprises over 6.1 million business establishments, including approximately 940,000 registered enterprises and over 5.2 million household businesses. The sector contributes around 50% of the country’s GDP, accounts for over 56% of total social investment, employs approximately 82% of the workforce, and generates around 30% of state budget revenue and more than 30% of total import-export turnover.

Prime Minister Pham Minh Chinh receives Wouter Van Wersch, Executive Vice President of Airbus International. (Photo: VNA)

PM suggests Airbus help Vietnam in developing aviation ecosystem

During a meeting on March 14 with Wouter Van Wersch, Executive Vice President International of Airbus, Prime Minister Pham Minh Chinh praised the aerospace giant’s cooperation with Vietnamese partners, emphasising its role in boosting domestic and international connectivity and driving Vietnam’s socio-economic growth.

The Vietnam Consumer Rights Day 2025 is under the theme "Transparent Information – Responsible Consumption". (Photo: VNA)

Hanoi launches campaign for Consumer Rights Day

The event, organised by the city's Department of Industry and Trade, aimed to promote consumer protection as a long-term, essential task for all levels of government, businesses and society.

At a MoU signing ceremony between PV Gas and ConocoPhillips, Excelerate Energy (Photo: VNA)

Vietnam – US economic ties strengthened with multiple agreements

PetroVietnam Gas Joint Stock Corporation (PetroVietnam PV Gas) signed Memoranda of Understanding with ConocoPhillips, an independent exploration and production company, and Excelerate Energy regarding long-term liquefied natural gas (LNG) purchase agreements.