HCMC - An American billionaire is looking for opportunities to invest in real estate sector in Vietnam, saying that the local property market remains potential for long-term investment though it is challenging for developers now given the credit tightening policy.

The State Capital Investment Corporation (SCIC) will gradually take over capital management in State-owned groups and conglomerates commonly known as Corporations 90 and 91, established under decisions No. 90 and 91 of the Government.

The best quality among existing rice seeds in the country should be chosen and developed to create a Vietnamese brand that is recognised in international markets.

A 27.1 per cent on-year drop in foreign direct investment (FDI) registered in Vietnam in the first six months of 2011 has signaled the first downturn in the FDI inflows since 2008. Is this a matter of concern? Nguyen Mai, former vice chairman of the State Committee for Cooperation and Investment (now the Ministry of Planning and Investment – MPI), argues that only a long-term approach to FDI can bring a true answer.

Commercial banks still have not released the reports on the business performance in the first six months of the year. However, sources have said banks surely made fat profits during the period.