~ Le Viêt Nam, aujourd'hui. ~
The Vietnam News

[Year 1997]
[Year 1998]
[Year 1999]
[Year 2000]
[Year 2001]

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.