After nine months of checking, the government has permitted 240 projects in Hanoi to continue.

Though Vietnam has not completely escaped the economic downturn, it still can catch the eye of foreign investors. Kyocera (Japan) and Hong Leong Bank (Malaysia) have just made major commitments.

Vietnam has attracted a total amount of US$18.926 billion of FDI during the past ten months, equivalent to 27.1% against the same period last year, reported the Ministry of Planning and Investment’s Foreign Investment Agency.

Hanoi’s sluggish resettlement development progress is expected to soon make a breakthrough. Hanoi People’s Committee vice chairman Vu Hong Khanh has signed off on Decision 108/2009/QD-UBND regarding land compensation and support of resettlement within the city in line with government Decree 69/2009/ND-CP, which both took effect from October.

Big retailers are pursuing a business strategy of expanding networks before foreign retailers arrive as a result of Vietnam joining the World Trade Organisation (WTO).

Revenue from parking fees and store rentals at apartment blocks should be used to offset maintenance costs, according to a proposal by the Ministry of Construction.

Foreigners owning or intending to buy property in Vietnam were dealt another blow, after a new law was issued allowing foreigners to own property for a maximum period of 50 years, down from the previous 70 years allowed in the last decree.

Homeowners can now expect to receive their land-use titles and house-possession rights within 50 days of applying for them, instead of the previous 85. The announcement was made by Phung Van Nghe, acting head of the General Department of Land Management on October 22.

U.K.-based property consultant Savills Tuesday became the exclusive leasing agent for Grade A office building Sentinel Place which is underway in Hanoi’s Hoan Kiem district.

Foreign made steel is being imported into Vietnam in big quantities thanks to the preferential tariff of five percent, which has forced domestic producers to slash sale prices.

Hanoi will have four satellite cities (Soc Son, Me Linh, Quoc Oai, Xuan Mai – Mieu Mon) plus a series of urban areas between the No. 3 and No.4 beltways. By 2030, it will have 10 million people.