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Author: Miley Selena
Every week, personal finance experts answer our readers’ queries in the wealth edition. Here is a query on financial planning answered by an expert. I am 57 and have three properties in my name. This includes one worth Rs 4 crore with an outstanding loan amount of Rs 1.2 crore. I am the sole earning member of a family of four. My wife is a housewife and has two plots in her name. My son and daughter are both pursuing higher studies and have one property each in their names. I have a business in retail, with a turnover of…
Expats in HCMC are worried for their second home and hope it will successfully contain the Covid-19 outbreak soon. “I can bear the inconvenience caused by the lockdown because I know it is nothing compared to what frontline workers face. I hope my second home and its people will be healthy soon” said an expat. Visit Vietnam Insider’s homepage for more stories. HCMC expats try to overcome lockdown problems. Waking up early on Sunday morning, Steven Fraser, a Briton living in District 4, planned to walk his dog and go shopping. But a security guard in the neighborhood stopped him,…
The central government today announced that the dearness allowance (DA) for central government employees has been hiked to 28% from 17% earlier. This DA hike has come after it was put on hold for more than a year-and-a-half due to the novel coronavirus pandemic. The hike was announced via a press conference today. “In view of the unprecedented situation which arose due to the COVID-19 pandemic, three additional instalments of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners, which were due from 01.01.2020, 01.07.2020 and 01.01.2021, had been frozen,” stated a PIB release. “Now, the…
When it comes to getting loan to buy a property, a land loan and a home loan are treated differently by lenders. If you are someone who is planning on purchasing land to build a property, you should know how a land loan differs from a home loan. Read on to find out the key differences between a land loan and a home loan. Who is eligible? While NRIs can easily get a home loan, however, when it comes to land loan, only resident Indians can get the loan as this loan is not offered to NRIs. What type of…
Vietnam’s Health Ministry announced 905 local Covid-19 cases Wednesday morning in 15 localities, putting the infection number in the ongoing wave at 31,839. More than four million people of the nation’s 96 million have been vaccinated against Covid-19, and 283,884 have got two doses Vietnam records another 905 local Covid cases, in southern Vietnam, epicenter Ho Chi Minh City recorded 666 cases, including 458 in quarantined zones and areas under lockdown. The sources of transmission of the remaining four are still unknown. Its neighbor Dong Nai Province got 80 cases, including 43 cases related to a cluster at Hoa An…
On July 10, the Vietnamese government announced a campaign to provide COVID-19 vaccines for all individuals 18 years and older in Vietnam from July 2021 to April 2022. The Vietnamese government announced that there will be no discrimination between Vietnamese citizens and foreigners during the COVID-19 vaccination campaign. Everyone, whether or not in a defined priority group, foreigners and Vietnamese citizens alike, will have access to COVID-19 vaccines as soon as more of these vaccines are available in Vietnam. Related: Here’s what you should do before getting coronavirus vaccine in Vietnam Currently, there are many types of COVID-19 vaccines, some people…
Many factories in Saigon Hi-tech Park, including the Samsung Electronics CE Complex, have shut down after more than 750 Covid-19 cases were confirmed there. Starting Tuesday, the Samsung Electronics CE Complex has granted over 7,000 workers time off for the company to set up accommodation within the factory. Precision manufacturer Nidec Vietnam has been shut for nearly a week after some employees tested positive for the novel coronavirus. The company now has over 4,000 workers living within the premises unable to leave for their homes during the shutdown, and 150 are accommodated in hotels near the park. Other Nidec companies…
The cut, which begins from this month to late 2021, will depend on each bank’s financial situation. Banks should focus their support on enterprises operating in essential economic sectors or labor-intensive industries, not real estate firms with positive business results, trading companies, or individuals buying cars. Vice General Director of Techcombank Pham Quang Thang made the view at a meeting held on July 12 between the Vietnam Banks Association (VBA) and representatives from 16 banks to discuss support measures for businesses. According to Thang, Techcombank has set aside over VND100 billion (US$4.35 million) to aid the Covid-19 fight, while offering…
On average, 11,700 businesses withdrew from the market every month, according to the General Statistics Office. After a year of struggling through the Covid-19 pandemic, businesses have been exhausted, which also caused the increase of expats’ unemployment in Vietnam. Kenn Smith, the couturier and co-founder at Kingsmith has raised crowdfunding since June to help small businesses affected by Covid-19 restrictions through planning, training, and offering some financial support. He called the program Remote Tailor to show the ability of his team to take overseas orders and create the perfect fit. Kenn has seen his customers leaving Vietnam since spring of…