Returnees get property rights
HANOI - A quarter of a century after the end of the war in
Vietnam, the communist authorities say they will give
Vietnamese who fled overseas the right to purchase
homes.
The Saigon Times said Premier Phan Van Khai had
approved the long-awaited scheme to allow Vietnamese
who fled war and communism to buy residences in Ho
Chi Minh City, formerly Saigon, capital of the United
States-backed South Vietnam defeated in 1975.
However, a communique quoted in the report said the
plan would require rules against attempts to "take
advantage" of the scheme or to use it for commercial
property deals. It gave no time for implementation.
Local officials were not immediately available for
comment.
Analysts say the move could help kick-start a domestic
real estate market that stagnated after a boom in the
mid-1990s.
Vietnamese who fled the country in the 1970s lost their
property to the state at the time of the communist
takeover.
Many have returned to visit and invest in the country
with the relaxation of hardline communist policies in the
past decade, but they have long complained of
discrimination.
Reuters - February 16, 2000.
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