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

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Vietnam to allow more overseas Vietnamese to buy houses

HANOI - The Vietnamese government is expected to issue a new decree in April, which expands the number of overseas Vietnamese eligible to buy houses in the country, local newspaper Vietnam News reported Tuesday.

Under a draft decree, those eligible for purchasing an unlimited number of houses in Vietnam are Vietnamese citizens living abroad, including Vietnamese nationals and foreign-passport holders who retain their Vietnamese nationality. Those who have not retained the nationality will be allowed to do the same if they meet some other requirements. The draft decree also stipulates that overseas Vietnamese who have been in Vietnam for at least six months or held visa-exemption certificates will be permitted to own a single house.

The prevailing decree issued in September 2006 stipulates that only overseas Vietnamese who are long-term investors, scientists or cultural experts, those who have made significant contributions to Vietnam, or those who have been allowed to live in the country for a long time can own an unlimited number of houses.

Since September 2006, only 130 overseas Vietnamese have bought houses in the country. The number was too few when compared with a total of some 3.2 million overseas Vietnamese, said Nguyen Manh Ha, director of the House Management Department under the Vietnamese Construction Ministry.

By Gao Ying - Xinhua - January 21, 2007.