Ex-leader of VNCB sentenced to 20 years in prison Society

Ex-leader of VNCB sentenced to 20 years in prison

Pham Cong Danh, ex-Chairman of the Board of Directors of the Vietnam Construction Bank (VNCB), has been given a 20-year prison term for “deliberately violating State regulations on economic management, causing severe consequences” at the bank.
Former State Bank deputy governor tried for irresponsibility Society

Former State Bank deputy governor tried for irresponsibility

The People’s Court of Ho Chi Minh City opened the first instance trial on June 25 for former deputy governor of the State Bank of Vietnam (SBV) Dang Thanh Binh on the charge of lack of responsibility causing serious consequences at the Vietnam Construction Joint Stock Commercial Bank (VNCB).

Housing market shows recovery signs

The real estate market underwent positive development in the first six months of 2014 as inventories decreased. The number of successful transactions strongly increased while many construction projects have resumed their works, the Vietnam Economic News reported.

Real estate market shows recovery signs

After a long freefall of the real estate market, some real estate segments have now started to warm up, the Vietnam Business Forum Magazine (VBF) said, adding that many real estate experts believe that the real estate market has passed bottom and entered a period of recovery.

Policies to revive property market: experts

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 on April 24, 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 – 30 trillion VND (1.41 billion USD) and 50 trillion VND stimulus packages.

Banks offer property market credit

A credit package worth 120 trillion VND (5.7 billion USD) would help develop the local property market, said Phan Thanh Mai, general director of the Vietnam Bank for Construction (VNBC).

Real estate market takes long-term view

The domestic real estate market will continue to suffer difficulties in the short term and the market needs more policies to help it make a profit in the long term, said experts.