Update news foreign ownership
The Ministry of Construction (MOC) has proposed that the government conclude that housing ownership by foreign individuals should not include not land-use rights. In addition, foreigners should be allowed to extend the house ownership period once.
The Ministry of Construction, per the recommendations of the National Assembly, is introducing new policies regarding foreigners' ownership of houses and apartments in VN.
The Hanoi Department of Construction has published a list of 67 apartments owned by foreigners in the city and the number of apartments allowed to be sold to foreigners in each housing project.
Hanoi’s Department of Construction recently announced eight more housing projects can be owned by foreign organisations and individuals.
To foster a competitive market mechanism while remaining in control of the petroleum market, Vietnam could impose a foreign ownership cap of 35 per cent in the sector.
Deputy Prime Minister Le Van Thanh has asked the Ministry of Industry and Trade to give careful consideration to the proposal of extending the amount of foreign ownership at petrol and oil business to 35 per cent.
Vietnamese banks assets are taking different approaches to their foreign ownership limit to counter the effects of the pandemic.
A policy allowing foreign individuals and organisations to buy and own houses and construction works in Vietnam will help lure investment and high quality human resources from the outside to the country for national development,
The Department of Natural Resources and Environment of central Da Nang City confirmed that it has not granted land use rights to any foreign individuals.
The Ministry of Construction’s proposal to allow foreigners to buy tourism property developments in Viet Nam needs careful consideration, experts have said.
Foreigners are eligible to own houses in a tenure of 50 years with renewal possibility.
Investors from the EU will have opportunities to own higher stakes in Vietnamese banks than those from other countries under Việt Nam’s commitments in the EU-Vietnam Free Trade Agreement (EVFTA).
The State Bank of Vietnam (SBV) has announced it would remove regulations limiting foreign ownership in local intermediary payment firms from its draft Decree No 101.
Vietnam Construction and Import-Export Joint Stock Corporation (Vinaconex or VCG) plans to eliminate and amend some business lines to open more room for foreign investors, to 49 percent.