Cen Land transforms into real estate developer with bold goals
Cen Land is shifting from brokerage to development, targeting a 170% revenue increase and 424% profit growth in 2025.
The social insurance fund’s remaining amount approximates VND500 trillion (US$22.03 billion), 95 percent of that has been invested by buying Government bonds with the average interest rate of 7.04 percent a year.
The social insurance fund’s remaining amount approximates VND500 trillion (US$22.03 billion), 95 percent of that has been invested by buying Government bonds with the average interest rate of 7.04 percent a year.
That was reported by Mr. Tran Dinh Lieu, deputy director general of the Vietnam Social Insurance Agency.
Mr. Lieu said that 5 percent of the fund has been used for loaning the state budget with the interest rate of 7.78 percent and deposited at commercial banks with the rate of 5 percent a year.
Last year the fund’s loaned amount reached VND34,400 billion ($1.52 billion).
According to the agency, depositing at commercial banks is difficult now with low interest rates. The law stipulates that the Vietnam Social Insurance Agency must deposit money at banks with good operation quality ranked by the State Bank of Vietnam (SBV).
However, SBV has just ranked healthy operation banks numbering five without good operation quality banks.
Interest rates have been low because banks have received deposits for less than six month terms. Some banks have got loans from the social insurance fund within 15 days.
The agency is working with the court and lawyers to reclaim overdue loans from Vietnam Bank for Agriculture and Rural Development and Financial Companies No.1 and 2. Their original debts alone total VND787 billion ($35 million).
Cen Land is shifting from brokerage to development, targeting a 170% revenue increase and 424% profit growth in 2025.
Menas Group has entered a strategic partnership with Keppel to co-develop an integrated ecosystem of lifestyle services across Keppel’s real estate projects in Vietnam, beginning with the landmark Celesta City development in Saigon South.
Phuc Sinh’s expansion underscores Vietnam’s growing role in sustainable agriculture and its increasing appeal to global investors
PVI Asset Management (PVI AM) and SonKim Capital (SK Capital), a business unit of SonKim Group has announced a strategic collaboration to develop innovative real estate investment products tailored for institutional investors and high-net-worth individuals.
Filum AI has successfully raised $1 million in funding despite a challenging venture capital market, underscoring the potential of AI and shifting investment strategies.
Enterprises are advised to promptly assess and evaluate the impact of the changes in the newly-issued to ensure timely compliance in the upcoming tax finalization period.