Even recently, a “virtual currency” called Phuong Hang token has also appeared on social networks. This is a cryptocurrency that is created and works based on an existing token. (Screenshots) (Photo: Facebook NN) Specifically, Phuong Hang token is developed based on the Binance Chain platform. This virtual currency is codenamed MPH (short for Mrs Phuong Hang). The development team said that the creator of the virtual currency Phuong Hang has canceled the token owner rights and left it to the community to manage. The total issuance of Phuong Hang token is 26,011,971,000,000 (26 trillion tokens). The number of tokens created according to the birth date of giant Nguyen Phuong Hang is January 26, 1971. (Photo: Facebook NN) 60% of these tokens will be liquidated on the Pancake virtual currency exchange and locked for 1 year, 30% burned and 10% used for marketing and airdrop costs. Currently, investors can buy Phuong Hang virtual currency for 1 MPH to exchange 0.00000000279451 USDT (Each USDT is equivalent to 1 USD). (Screenshots) Similar to Dogecoin, Shiba coin or Akita coin, … Phuong Hang virtual currency or Phuong Hang token is actually a type of meme coin (virtual money born for entertainment purposes). This currency is very easy to manipulate by celebrities. Their value can also turn around at any time. Therefore, investors need to be very careful when speculating or hoarding this virtual asset.

Illustration. https://kinhtexaydung.petrotimes.vn The cost of pollution in Europe has risen by more than 50% this year, signaling that climate policies need to be harsher, the region is also starting to make a difference. Futures in the carbon market of Europe, the largest market in the world, exceeded $ 60 / ton for the first time on May 4. Rising prices make it more expensive to release carbon dioxide into the air and force the industry to look for cleaner ways to run production. According to Ulf Ek, investment director at London’s Northlander Commodity Advisors LLP, the bulls have to go further. He hopes the futures contract will trade as high as $ 91 / ton by the end of the year, to boost his incentive to protect the environment. The rise in prices and industry concerns about its competitiveness, poised to put further strain on political discussions about the implementation of the “Green Agreement,” aimed at achieving neutrality. on climate by 2050 and strengthening emissions reduction targets by 2030. Some technologies to cut emissions, such as hydrogen generated without pollution, are still too expensive for steel and chemical manufacturers. But further price hikes could change that. Record carbon prices in Europe will strengthen the Government budget. EU leaders are arguing about enacting stricter pollution targets over the next decade at an extraordinary summit in Brussels, to be held on May 23. On July 14, the European Commission will propose a regulatory package to enact a new goal, by 2030, to cut greenhouse gases by at least 55% from 1990 levels. Agree by national governments and the European Parliament to become the binding rule. https://kinhtexaydung.petrotimes.vn

Development is not sustainable The document states that in the past 15 years, the real estate market has grown rapidly but has not yet achieved the transparent, healthy, stable and sustainable development goals. The market still repeats many land fevers, especially the land fever that occurs consecutively on a large scale today, causing many negative consequences, losing opportunities to create housing for many income earners. On average, urban low-income people, labor workers and migrants, affect social security and order. Land fever in the area of ​​Phan Thiet airport in early March 2021. Photo: Hop Pho The main culprits of the land fever, house price fever, land price fever are the “head of the family, land storks, and dishonest businesses” who perform tricks to spread rumors, make prices – blow prices, take advantage ” crowd psychology – greedy “,” prey “on fake purchases and excess opportunities to” chisel the fat “, illegal profit and in some cases there was connection, support, “back against” of grassroots cadres. When the land fever subsided, many individual investors “surf” with the crowd due to lack of capital to borrow with high interest rates, not having enough information and skills, so they were trapped and lost heavily. even fell into the situation of accumulating debt. Many land plots became deserted, while land prices in some localities were pushed too high compared to their real value, negatively affecting the investment environment, making it difficult to attract investors, especially big investors. In addition to land fever, there is a situation of skyrocketing house prices, mainly due to a sharp decline in the supply of housing projects, a lack of housing products, especially a lack of affordable apartments. or low-cost commercial housing, social housing. The shortage of supply due to unapproved housing projects, congestion in construction investment procedures, and general intangibility have created advantages for some businesses that already have existing projects and have home products. In overwhelming the market “imposes” the selling price to get a very high profit. Tax against speculation Through the research, Mr. Le Hoang Chau, President of HoREA, proposed to the Prime Minister to consider solutions to “treat” land fever and stabilize house prices through the effective use of tax tools and the issuance of unjust tax. movables. Specifically, HoREA proposes to issue tax against speculation on housing and land; Income tax is imposed at a very high tax rate for the sale or transfer of houses and land right after establishment to eliminate the speculation of investors in case the market shows signs of speculation or fever. hot “bubbles”. “I hope the Prime Minister will consider and set a very high tax rate if selling or transferring houses and land in the first year and keep high tax rates in the second and third years. Cases of sale and transfer of houses, After being created for 3 years or proving that the need to sell or transfer houses or land is justified, the normal tax rate will be applied.As such, this tax will not affect home buyers. there is a need to create real houses “- stated by HoREA’s document. HoREA also recommends taxing people who own multiple properties that are subject to a progressive tax rate depending on the number of properties owned. In case the real estate market is speculated, very high tax rates can be applied to eliminate the will to speculate. The delay in putting land into use should also be high taxed to eliminate the will to “hold on to” the land, slow to put the land into use and to combat land speculation. Real estate tax In particular, the Association proposed to issue a “real estate tax”. Because at present, homeowners do not have to pay housing property tax, but only have to pay “non-agricultural land use tax”, including “residential land” at the rate of “residential land” in the term. the rate is 0.03% of the land price list, so the tax payment rate is very low, almost negligible. The association agreed with the Ministry of Finance’s proposal to consider issuing a “real estate tax” on the value of houses and land, to create a stable and sustainable source of revenue for the state budget. But the Association recommends carefully considering, to ensure that it is consistent with the common income of the majority of individuals and households who have middle income and low income in our country. However, in order not to have the “tax-stack tax” situation, it is necessary to replace the current “land use levy” collection method, which is a burden for home buyers in housing projects. Horea proposes to add the efficient use of monetary and credit tools of the State Bank. In addition, it is proposed to use measures to reduce the proportion of real estate loans to buy credit for “surfing” investment, as well as to strictly control “consumer credit”, to prevent the transfer of a part of sources. loans to build a house, repair a house, buy a house, to “surf” when the real estate market has a “bubble” fever. Tight control of “dirty money” In addition, HoREA proposes to strictly control the source of “dirty money” to buy real estate for “money laundering”. According to Mr. Chau, in the first 3 months of 2021, real estate credit growth of 3%, although higher than the overall credit growth of only 2.93%, but not too unusual. Thus, a big question is that the huge investment capital that makes the real estate market hot “bubble” now come from?

Deputy Minister of Construction Nguyen Van Sinh. Photo: VGP

This is the information emphasized by Deputy Minister of Construction Nguyen Van Sinh during the meeting to provide information to a number of press agencies about the situation of land fever, virtual land fever in some localities in recent years.

There are many “risks” in real estate transactions

Deputy Minister Nguyen Van Sinh said that in the first quarter of 2021, the real estate market had many fluctuations, although the volume of real estate transactions under the supervision of the Ministry of Construction, was only about 70% of the transactions in the fourth quarter of 2020.

Real estate prices increased slightly, especially apartments also increased from 5% to 10%. In particular, land prices have had a hot, local phenomenon in some localities across the country such as areas around Hanoi, Quang Ninh, Hai Phong, Bac Ninh, Bac Giang, Hoa Binh, Phu Tho, Ho Chi Minh City, Dong Nai. , Binh Duong, Binh Phuoc, Binh Thuan …

Many people leave their jobs and production to trade land, creating local land fever phenomenon and risks affecting socio-economic development in the area.

It is worrying that many real estate transactions have emerged problems affecting the interests of people, especially real estate transactions with ineligible legal conditions.

“That is a situation that many projects that have not invested in technical infrastructure have real estate transactions; Many transactions took place with forest land, agricultural land, production and business land that has not been used for investment in real estate projects. It can be said that these transactions do not guarantee legal requirements, potential risks for people when investing in real estate in the past time, “Deputy Minister Nguyen Van Sinh warned.

Five causes of land fever – virtual land fever

According to Deputy Minister of Construction Nguyen Van Sinh, in recent years, most localities have been very active in preparing provincial planning according to the provisions of the Law on Planning 2017. At the same time, localities are also interested in the planning investment and development of urban projects, housing projects, and large-scale technical infrastructure projects. Urban upgrading is also happening synchronously.

Deputy Minister Nguyen Van Sinh stated, “The planning and announcement of the local planning has not been made public and transparent for timely orientation for people and businesses, leading to investors and businesses. The real estate has taken advantage of this lack of transparency to push land prices up as in the past “.

Land fever has occurred in some localities in recent years. Photo: VGP

Second, due to the impact of the COVID-19 epidemic, the bank interest rates, including those at commercial banks, are very low. This investment channel is not attractive to people to send money. Therefore, at present, many investors and people with idle money tend to invest in real estate transactions because they think that this transaction is safe, effective and has opportunities for the future.

The third reason, according to Deputy Minister Nguyen Van Sinh, in recent years, the investment in the development of housing, real estate and urban projects has also faced many difficulties, especially legal procedures. Land management, investment and construction are still difficult, leading to a limited supply of real estate.

Next is the investment and development of affordable commercial housing, social housing, for the poor in urban areas as well as workers in industrial zones that have not been given adequate attention by localities. leading to a lack of social housing supply, not meeting the needs and needs of the current people.

Fifth, now some localities have had a policy of increasing land prices according to the roadmap with an increase of 15-20%. Although this land price increase has not affected much real estate transactions today, because real estate transactions have now been allocated land and invested in the past, but the policy of increasing land prices has affected. affecting psychology and the increase in real estate prices in recent times.

Transparency about planning and implementation progress of projects

Deputy Minister Nguyen Van Sinh said that over the past time, the Government and the Prime Minister have focused on directing ministries and localities to drastically step in and take specific solutions to prevent and strictly deal with the phenomenon. virtual land fever in some localities.

Specifically, focus on building and perfecting the legal system related to land, real estate investment, construction and trading to remove difficulties, especially in terms of investment order and procedures.

The Government has submitted and approved by the National Assembly the amended Investment Law, the amended Construction Law, the decrees have also been issued by the Government such as the Decree guiding the Construction Law, the Decree guiding the Investment Law; Amended Decrees related to the Decree on management and development of housing projects and guide the Housing Law and the Decree on social housing development.

Along with that, the Government has also instructed the State Bank of Vietnam to better control credit, especially credit in real estate, to avoid “double risks” in this area.

At the same time, to direct localities to focus on investment in developing social housing, cheap commercial housing to meet the housing needs of people, especially workers in industrial zones.

For localities, Deputy Minister of Construction Nguyen Van Sinh suggested that in the coming time, focus on completing and approving planning projects, paying attention to urban development projects, housing projects. ensure synchronous technical infrastructure, social infrastructure and full legal status for real estate projects, control real estate transactions to ensure demand.

Continuing to make public information about the planning and implementation progress of projects in order to make information transparent, prevent the spread of rumors, speculation to push prices and profit from a number of projects that have occurred. out in the past.

In addition, there should be strict measures to prevent the transfer of land use rights, division of plots, sale of land in some areas that have not yet been allowed to invest. Deputy Minister of Construction Nguyen Van Sinh proposed to manage and control the purchase and sale of real estate transactions many times to better control the increase in land prices, especially through management measures. very good organizations and individuals in real estate transactions and brokerage.

At the same time, it is suggested that localities in the coming time strengthen the inspection, examination and strictly handle cases of real estate investment and trading in contravention of regulations, especially ghost projects, projects are not enough. Legal documents, real estate business conditions.

For real estate businesses, it is necessary to strictly comply with the investment order and procedures, especially the procedures for land allocation and construction investment, so that real estate investment and business projects are fully fully legal, complying with regulations on construction investment in real estate projects.

In the coming time, businesses need to pay attention to invest in real estate and housing projects to ensure synchronous technical infrastructure, social infrastructure, legal status and do business, business transactions. to trade real estate in accordance with law.

Deputy Minister Nguyen Van Sinh also recommended that people and businesses who are interested in the real estate field are very calm, wary of rumors, study and carefully consider legal documents of projects. Real estate transactions and real estate transactions only when there is clear legal documents, in accordance with the provisions of the law.

Illustration.

As VnEconomy reportedAccording to the latest figures from the State Bank, in the first quarter of 2021, real estate credit has reached 1.85 million billion dong, up 3%. So this number has fully reflected and is the main reason why the real estate market is so hot today?

During the past 3 years, real estate investment credit has always been closely cared and controlled by the State Bank. Therefore, credit growth in this area tends to decrease. In 2020 alone, it will increase by only 11.89%, while the previous two years 2018 and 2019 will increase from 26-28%.

According to the operator’s representative, at the end of 2020 and the first quarter of 2021, real estate credit tends to inch up a bit. However, the growth rate is only equivalent to the overall credit growth of the whole country of 2.93%.

Credit for life has also reached nearly 1.87 million billion, up 1.2% compared to the beginning of the year. In particular, although it is difficult, it is also necessary to evaluate how much consumer credit is poured into real estate.

At the same time, compared to the same period in 2020 when the epidemic causes the real estate credit rate to increase by 1.84%, the above rate may be higher. But compared with the time of the first quarter of 2019 was 5.19% and the previous years, this rate is not higher, even much lower.

If you look at the above statistics, it can be seen that real estate credit is not the main cause of the current “land fever”.

However, when VnEconomy exchanged with an economist, he said that the above figure could not fully assess the credit flow flowing into real estate. Because, credit for life has also reached nearly 1.87 million billion, or 1.2% increase compared to the beginning of the year. In particular, although it is difficult, it is necessary to evaluate how much consumer credit is poured into real estate.

“When surveying a few projects that are selling land plots in the outskirts of Hanoi, I find that the buyers are mainly speculators, they not only buy 1 or 2 plots, but buy the whole range. In addition to existing out-of-pocket money, capital from the bank is indispensable. It is worth mentioning that they are allowed to borrow capital in the form of consumption, but with the amount of up to tens of billion dong, ”said the expert.

Besides, he also said that the real estate market is welcoming many new “players”. They are inherently participating in other industries, but due to the Covid-19 translation, their production and business have stalled. While real estate profit margin skyrocketed, so decided to change direction. In fact, just go online to search for the phrase “encroach on real estate” to be able to identify these new “players”.

“The capital accumulated for many years has been converted to real estate, while the capital for business operations is borrowed from the bank. Thus, this credit flow will be listed on production and business activities, not on real estate. The statistic is just the tip of the iceberg, ”said the expert.

The State Bank is asking credit institutions to inspect and strengthen supervision of regulations on real estate lending conditions, to ensure compliance with regulations, while being able to manage cash flow when loan.

That is an expert opinion, but on the part of the State Bank, Deputy Governor Dao Minh Tu said there are many reasons for the real estate market to overheat in recent years, such as rumors about planning information, the supply is limited while the demand is great, the land price list increases …

In addition, Mr. Tu also noted that real estate loans have two subjects, one is lending to the low-cost housing market segments, social houses or real estate with the nature of consumption. it is still guaranteed to serve the people well.

Second, real estate projects and high-end segments such as villas, resorts … with poor liquidity in the future will be revalued and strictly controlled.

“Real estate credit status higher than overall credit growth only appears in a few credit institutions and mainly focuses on the first object,” said the Deputy Governor.

Over the past years, the State Bank has consistently maintained its management target and has taken many measures to control credit in potentially risky areas, including real estate. For example, the system is implementing a regulation on short-term deposits for medium and long-term loans at 40% and that these loans must apply a risk factor of about 200%.

At the same time, the Deputy Governor also said that the State Bank is asking credit institutions to inspect and strengthen supervision of regulations on real estate lending conditions, to ensure compliance with regulations, in parallel. with that is managing cash flow when lending.

“The most important goal of 2021 when setting a credit growth target of 12% is to focus on the priority and necessary areas. Focusing on key works and projects of the State, as well as prioritizing certain economic sectors, such as exports to support economic growth rates according to the goals set by the National Assembly. Therefore, real estate credit will be tightly controlled and cannot increase hotly ”, Mr. Tu emphasized.