I left South VN in 1975 when I was a teenager. Almost 50 years later, the way to do business in VN today has not changed after all. Local officials who have power are the laws. VN is a beautiful country but without just and transparency in law enforcement, it just makes the place ugly.
Nah, South Vietnam administration gave lands to farmers under "Người Cày Có Ruộng" ("farmers have lands") program to help farmers living in the Republic of South Vietnam, unlike the widespread land robbing systematically conducted by the Vietnamese Commie terrorists first in North Vietnam then in the whole country after they took over South Vietnam, too.
Yes, I am an American living here 22 years and its corruption and cheating everywhere-nothing changes here. Life is still cheap and everyone lives and thinks money.
You just have to look how the traffic is managed in the streets of vietnam and you will understand how the whole country works. You do what you can get away with until caught in the act.
If you know the guy that know the guy that can pay off the guy then they let you build whatever you want without any oversight. Until the money is dried up, the guy that on top that didn't get a slice of the pie then he hit the gavel and everything get crumbled. That pretty sum up the real estate scandal in Vietnam 😅
What you described is Ponzi scheme bribery. So, where on the multi-level bribery scheme are you or the guy you are bribing? That game can go on "forever", until of course, it can't. Good luck, you will certainly need lots of it.
This is what government said and Ken just quoted their reason as “illegal building of houses on public land” and thus need to be confiscated and/or destroyed. Ken, please also go and ask the owners of these houses that were being taken away to hear what they have to say about this? It sounds like stealing prime real estate locations from owners for more beach front hotel resorts.
Of course, they would say the opposite and play victim. With the real estate market getting hot right now in Phu Quoc, wealthy people buy up lands designated for agriculture at cheaper prices then bribe the local authorities to build up houses there. This practice has been around for decades. My Linh, a well known singer here in VN, did the same thing in Soc Son is just another example, but things could work out differently as long as you know the right guy. Yes, the local government is corrupted and those land owners are not innocent.
I would keep my investment in the US or places where rules of laws are clear and respected. Maybe one day Vietnam would become more friendly to foreign investors.
Bribery is part of their culture, it’s ingrained in their DNA. Even students can bribe the teachers. People don’t know how to drive a car , yet they already had their driver license. When on the road, they don’t know how to drive and cause accidents.
Vietnam law states that all land is, and always will be ultimately owned by the State (uhh, that means the GOVT). There are countless foreigners and Viet Kieus that have lost their fortunes "investing" in Vietnam. As someone who speaks and understands Vietnamese culture, customs, and "laws" which are constantly being changed on a whim, no one comes out ahead buying real estate in Vietnam. The way they conduct business with lack thereof of ethics, laws, and any rational semblance of honesty makes this endeavour a failure from the beginning. I sure hope you are doing enough business in Vietnam these difficult days and years, as it appears Youtubing is becoming more and more your "gig" in 'Nam.
@@ctrangoblue Investing abroad in any country where there is no clearly defined laws and where foreigners are treated differently than locals is a guaranteed LOSS. The only advantages are multi-national companies that have the clout and weight to ink deals directly with the Officials and hold them to those long-term deals and agreements. Even these MNCs run into problems regardless. And those deals are favorable due to the low-cost of labor which is currently still Vietnam. Everything else, especially for individual foreigners, investors, etc. run highly the risk of total LOSS.
The whole system is corrupted, that's why. Some buildings they allowed to be built and the first owner sold the building to the second owner and it was demolished due to lack of permission. This corrupted government is robbing people of every corner of their lives. This is real SAD for Vietnamese!
Phuc Quoc is perhaps the worst place to visit in Asia. It's a complete dump with overpriced hotels which serve overpriced terrible food, terrible service and nothing to do. Each hotel is isolated so you are stuck there with no options. The big tourist attractions on the island are the night market which is a tiny, unsanitary filthy dump, and Grand World with is a bunch of buildings with 90% of tenants out of business, and Vinwonders which is another waste of money. Do yourself a favor and avoid Phuc Quoc. It's a very overpriced and ugly garbage dump with trash and construction everywhere, poor service and bad food.
I'm glad you are talking about the issues surrounding Phu Quoc. I had visited the island a few years ago and really liked it. I was going to visit it again but read so many bad reviews about the place that I decided to go to another destination instead (Mui Ne--very pretty area). It's a shame that such a beautiful place like Phu Quoc has turned into a blighted area. I hope it will recover in the future so I can visit again. Thanks for this video.
As many things you find in Commie Vietnam, below average quality yet at much higher than average prices, and Phu Quoc is in no exception, unfortunately. Saigon used to be called "the pearl of Southeast Asia" and the envy of many regional countries, of course, before the Vietnamese Commie terrorists invaded it and turned it into "the testicle of Southeast Asia".
Phu Quoc islands properties had boomed with the highest price resulting in high service, foods, tourists also Vietnamese got rid off by the sellers (bad reputations) at all.
Why am I not surprised. Such a lawless country. Ans anyways, which lawyers did the due diligence on this sale transaction? Isn’t the first thing to check that the land is zoned correctly ?????? The utter incompetence at all levels is just breathtaking.
Thank you so much Ken sir , always love to see the Vietnam 🇻🇳 ❤ through your channel, absolutely amazing video quality, may be next year I'm coming to vietnam 🇻🇳 and i have plans to open up my business there very soon.
Great video, I appreciate the transparency and honestly you have Ken as much of Vn media dont show this. Although, are you not scared to share these information while being in Vietnam? I think I would
Bribing used to be a thing on everything, even at airport in Vietnam, maybe it’s still going on and it’s the main reason those illegal houses kept building up without consequences
I wouldn't demolish as the government, I'd forcefully take it away not just not compensating the owner but put a fine on top as well. It would solve not much illegal development in future and also if someone steps out of line will provide property for people in needs or government can rent it out and use the money to help solve poverty, homelessness, malnourished kids etc etc.
I thought china bought phu qouc island for 99 years lease, Local officials are not to be trusted gosh... I like your channel very informative 👍 thank you
there's just no need to buy property there unless you are married to a Vietnamese woman. even then I would only make the investment 40% of total assets. Single and working men should just rent and invest in A grade global property trusts if they want a decent income, high liquidity and low stress.
The sad thing in VN is the people are ignorant and/or misinformed about the law of the land. The majority still thought they can “sell” the land but in fact they can only “transfer the right to utilize the land” because an individual or group cannot own lands in VN. According to the law, lands in VN are owned by the People and managed by the government meaning that the VN Communist Party can do whatever they want with the land and corrupt officials will receive money from developers under the table to repossess any land they want.
If you don’t know 1 Million USD with 10 thousand $100 bills weigh about 10 kilograms (22 pounds). Therefore when you see a business man carrying a suitcase into a government building it’s probably greasy money for the officials.
It's really sad what the have done to Phu Quoc. They built a horrific copy of Italian towns there merely for tourism. Everything is becoming very ugly in PQ, I mean very ugly😢
The buildings at Grand World and man-made river look so fake. They are building hotels immediately right next to the used-to-be beautiful beach fronts, contaminating the ocean water. I sat there and cried seeing this. They destroy nature beauty and natural habitats. Tourists come to Phu Quoc for its prestine beaches, and tropical forest, not the fake-Italy and artificial theme park and water park. Safari zoo remains to be a good opened zoo that I enjoyed to see.
In the US before you build anything, you present your case to proper authority to get your permit to build, so later nobody can demolish your property. Also in the US, if you have permit to build, you can challenge in court. In Vietnam it’s just a stroke of a pen.
I appreciate the transparency that you offer... I currently have been thinking about investing in vn.. just trying to do as much research as i can.. thank you
I don't see this as a bad thing. Something similar needs to happen in the US.... houses in the US are so unaffordable because large corporations are buying up houses, driving up prices. The end effect is the same, making housing unaffordable for the average citizen.
Punishment is needed to those who think they are smarter than government. those villas could be removed to another location in stead demolishing them. There are many companies taking care removing houses, churches,....in Việt Nam.
Same thing in the US, you build on government land or not zoned for your current property type, they'll force you to knock it down. The only difference is that Vietnam has many investment scams, more than the US, but there are still scams in the US.
I have a question for Duong GBCG. Does Phuc Quoc have a waste water treatment Plant? And if so are all buildings conected to it? Or is all the waste water going straight out into the sea? Thanks for a good program
Most of the so-called "investors" are locals with connections. Most of them come from other places outside of Phu Quoc. I heard that most of them come from northern provinces, on the other side of the 17th parallel. They have been playing this game for many years. They know the system well, and it's the risk they are willing to take.
when u buy land including house on it, u must get land deed from national land department to ensure ur land owner. if that a normal process in vietnam, how can it be public?
It’s like that in vn. Only greedy people buy houses/villas without the ownership. I would not say bad about the vn law, because it’s fine, I would say the bad is the “victims” themselves as they know they’re doing illegal deeds but for geed they accept it and even spoil the local authority to reach their goals.
Not really. You should know that there are many greedy people in vn they know but just ignore the law and spoil the local authorities to reach their goal. If you buy a land/house with legal papers, noone can touch your property even the local authority. Keep away from fishy people who call for fishy investment (no legal base ones)
Keeping in your mind that just outlaw guys built houses on the public lands, they already know they don't be allowed, they bribed a locals authorities in giving them at their own risk take in anything happens to their money.
@@VN-BURNERThey need to trace back to whoever is in charge at that time and fired them all for corruption, put them in jail and also take their houses too, this is a lesson for the next corruption official to think about if they are going to do this. Also take their relative houses too, because they will hide their money there also.
@@dangda-ww7de Unfortunately that's not how the law works over there. The government official rarely get charged with crimes. It's suck for those people that put their life saving buying these house and now left empty handed. There are so so many real estate projects belly up in Vietnam just like China.
@@VN-BURNERThe motherland is only good to visit but never a good idea to do business or buy property there. Why did you think we all escape vn. I feel sorry and bad for the people that live there.
@@DesignIsDestiny Quasi-state owned VinGroup got the bulk of its wealth from colluding with the Vietnamese Commie regime to build real estates on robbed lands of the Vietnamese citizens. Unlimited profit, zero liability, under Commie regime. Commie companies like VinGroup and its subsidiaries like VinFast could and can only thrive under monopoly system without competitions under authoritarian regime, and not in any free market system. Once they tries selling products or services under true capitalist system, they fail miserably. Look at VinFast junks for cars only bought in Commie Vietnam but rejected everywhere else on earth, and how its stock VFS cratered soon after its scam IPO on Nasdaq.
YOU CONSTANTLY USE THE TERM "OWN" WHICH HAS A DEFINED MEANING. BETTER YOU USE THE TERM "LEASE" OR "OCCUPANCY/USER PERMIT" SO FOREIGNERS ARE ALERTED TO THIS STATUS. IN HCM THERE ARE GOVERNMENT DOCUMENTS THAT DETAIL FUTURE FLOOD AREAS. SIMILARLY TO BANGKOK THERE WERE MANY FORMER CANALS & WATER WAYS (OR COURSES) THAT WERE FILLED IN DURING THE FRENCH OCCUPANCY. NATURE HAS A NASTY HABIT OF RECLAIMING THESE WATER WAYS. DETAILED RECORDS ABOUT EARLY VIETNAM ARE HELD IN FRANCE. I EVEN FOUND MAPS DETAILING LONG GONE VIETNAMESE RAILWAYS IN TORONTO. WHEN MY BUSINESS WAS LOOKING FOR SPACE IN CHOLON IT TOOK THE BEST PART OF A YEAR TO DETERMINE CLEAR TITLE. HA NÓI CITY HAS A HISTORY OF HARSH TREATMENT WHEN IT COMES TO CUMPULSORY RE-OCCUPATION, HCM LESS SO.
Does your keyboard come with a cap function, as you constantly use capital letters in your comments? Writing in all caps is seen as screaming, which we hope you are not. Are you angry?
That video talks about community property but doesn't touch on concerns for those who left Vietnam and were told to surrender their property or couldn't sell before leaving. Can you also cover the topic of heirs with wills trying to reclaim property in Vietnam upon return, and if paperwork is lost, the potential options for property retrieval. Thank you.
Kind of sus if you ask me. How did the government not know they were building entire villas on “public lands”? The entire process takes months even years to complete. After they finish building then the government moves in to demolish the building? Doesn’t make any sense. I’m guessing it’s a deal gone bad or the investor and the government couldn’t come to an agreement so action was taken. Plus before developing and building you have to get permits signed off and permission to begin the process. You don’t just pick a spot and start building. Anyways…SUS 😂
When I was in phu quoc Sun group people were there at the same time they acted as if they were gods. My husband has a high level job too but he doesn’t act that way… my husband will get a kick out of this. Interesting cus we bought nice seats on the flight back to Saigon they didn’t give us this at all.
Thinking about it I've seen similar things happen in the US. Depending on where you are determines who you have to bribe with campaign contributions. Normally though in the states one of your neighbours decides to be nosy and controlling, they call all the revelant authorities to come harass you, lol
Ain’t that the truth 40 years ago my father bought a house in West Miami Florida. He wanted to do some small upgrades. Every time he went to the City Hall the permit department he would be denied not only that they would send inspectors periodically to make sure that he wasn’t doing anything, we ended up moving the lady at the permit department, had a real hard on for him
Good day Ken, Great video & you don't hold back you call it out. Why 1 simple word " GREED ". I wouldn't touch anything in Vietnam 🇻🇳 without your okay. Hope you, your family & all your staff are well. Cheers Louis Kats your number 1 Fan in Melbourne, Australia. ❤ 😊
Vietnam is cheap. As a foreigner you probably won't get killed by a thief. There are some beautiful places to visit for a day and then leave. If you like VN food then you can eat all the Vietnamese food you want...cheap. There I've covered the PROS but I won't get into the CONS as I have things to do today and don't want to bore everyone for an hour. Yes I lived there for two years and have little interest to ever return.
You are contradicting yourself with statement "If you want to own both the house and also the land, then you would need Vietnamese citizenship". The fact is no one with Vietnamese nor foreign citizenship can legally officially own land in Commie Vietnam. Of course, some top Commie Vietnamese government officials can, especially with the blessing of their masters Commie Chinese, unofficially so, as they don't get land-robbed, but do the land-robbing themselves.
Based on the history of comments you wrote on our channel, probably selective hearing from your part. 17:51 . Why would our attorney contradict himself? Can own the right to use it. It is called the red book and only available to Vietnam citizenship holders. Hope it helps
Red or Pink book owners only can utilize the land to build but cannot own the land because the land belongs to everyone in VN. So in order to keep your property from being demolished make it movable like a mobile home.
@@duongglobalbusinessconsulting Your reference 17:51 that stated "as a matter of fact Vietnamese cannot even own land it's only constructive ownership and use of the land so as a Foreigner you have a 50-year lease on the property" just proves my point that you were contradicting yourself with the latter statement "If you want to own both the house and also the land, then you would need Vietnamese citizenship". Is that not so?
Absolutely not. It is clear that your comment shows disdain for subtleties and nuances. Owning land according to Vietnam's residential and commercial civil law, as we have repeated many times, means the right to use land only. Thus, both terms are used interchangeably. And there is really nothing to argue here. Just like passports that are are government property and can be revoked any time. We use to say "my passport", "your passport". But it is technically not yours, as it belongs to the country that issued it. In the same vain, we are not going to say "the passport that belongs to the country issued to your name" to say "your passport", as it would be too redundant and unhelpful. That is the same figure of speech for owning land in Vietnam. But, we believe that you already know that and that you just engage for ideological reasons, which is totally understandable as long as it does not derive into pointless arguments and bitterness. Writing "commies" in most of your comments is redundant and does not offer valuable information. If our videos make you feel aggravated and bitter, why keep watching them? It is most certainly unhealthy for you and unpleasant for us and other viewers when reading the same comments over and over again.
@@duongglobalbusinessconsultingIf so, that can conceivably create confusion for the listeners because in one statement you emphatically made the distinction between "the right to use land only" versus "owning land", and in the next statement you used them interchangeably and referred to that as "nuance", as you described above. Don't you think so? Regarding my references to "Commie", that was to differentiate it from the un-Commie, or free, Vietnam, and actually for the benefit of the readers who have never had experiences with the un-Commie Vietnam, and as a result, tended to think Vietnam has always been as corrupt, oppressive, brutal, incompetent as the Vietnamese Commie regime has constantly behaved, albeit for decades now. To me, facts are beneficial and healthy, because they ethically raise true awareness, while the opposite or sugarcoating half-truth, even with the best intention, can be damaging if not deadly in the eventual outcome. I am sure you know that there were quite a few starry-eyed "investors", both foreigners and Vietnamese expats, who learned it the hard way and essentially lost all their life savings to the Vietnamese Commie regime after being lured there by lies and/or half-truths and substantially invested without doing their due diligence, now without recourse, legal or otherwise.
I left South VN in 1975 when I was a teenager. Almost 50 years later, the way to do business in VN today has not changed after all. Local officials who have power are the laws. VN is a beautiful country but without just and transparency in law enforcement, it just makes the place ugly.
Nah, South Vietnam administration gave lands to farmers under "Người Cày Có Ruộng" ("farmers have lands") program to help farmers living in the Republic of South Vietnam, unlike the widespread land robbing systematically conducted by the Vietnamese Commie terrorists first in North Vietnam then in the whole country after they took over South Vietnam, too.
VN not a place to invest because of corruption and a much better place is Singapore rules and regulations are very clear.
@@difencrosbyThe problem with all this downfalls is CORRUPTION !!! right?
It’s the culture which ingrain in their DNA!
Yes, I am an American living here 22 years and its corruption and cheating everywhere-nothing changes here. Life is still cheap and everyone lives and thinks money.
You just have to look how the traffic is managed in the streets of vietnam and you will understand how the whole country works. You do what you can get away with until caught in the act.
If you know the guy that know the guy that can pay off the guy then they let you build whatever you want without any oversight. Until the money is dried up, the guy that on top that didn't get a slice of the pie then he hit the gavel and everything get crumbled. That pretty sum up the real estate scandal in Vietnam 😅
💯%
What you described is Ponzi scheme bribery. So, where on the multi-level bribery scheme are you or the guy you are bribing? That game can go on "forever", until of course, it can't. Good luck, you will certainly need lots of it.
Hell of a lot of assuming there bud. @@donnguyen8443
Yup that’s VN lol they can come and take whatever they want that’s yours lol they’ll make some up Bs lol 💯
Sounds like China where the laws are subject to the whims of the Party. You transact at your own risk.
This is what government said and Ken just quoted their reason as “illegal building of houses on public land” and thus need to be confiscated and/or destroyed. Ken, please also go and ask the owners of these houses that were being taken away to hear what they have to say about this? It sounds like stealing prime real estate locations from owners for more beach front hotel resorts.
Of course, they would say the opposite and play victim. With the real estate market getting hot right now in Phu Quoc, wealthy people buy up lands designated for agriculture at cheaper prices then bribe the local authorities to build up houses there. This practice has been around for decades. My Linh, a well known singer here in VN, did the same thing in Soc Son is just another example, but things could work out differently as long as you know the right guy. Yes, the local government is corrupted and those land owners are not innocent.
…and avoid trusted relatives stealing the house from you thinking that you will get it back when retired
I would keep my investment in the US or places where rules of laws are clear and respected. Maybe one day Vietnam would become more friendly to foreign investors.
Bribery is part of their culture, it’s ingrained in their DNA. Even students can bribe the teachers. People don’t know how to drive a car , yet they already had their driver license. When on the road, they don’t know how to drive and cause accidents.
Vietnam law states that all land is, and always will be ultimately owned by the State (uhh, that means the GOVT). There are countless foreigners and Viet Kieus that have lost their fortunes "investing" in Vietnam. As someone who speaks and understands Vietnamese culture, customs, and "laws" which are constantly being changed on a whim, no one comes out ahead buying real estate in Vietnam. The way they conduct business with lack thereof of ethics, laws, and any rational semblance of honesty makes this endeavour a failure from the beginning. I sure hope you are doing enough business in Vietnam these difficult days and years, as it appears Youtubing is becoming more and more your "gig" in 'Nam.
@@ctrangoblue Investing abroad in any country where there is no clearly defined laws and where foreigners are treated differently than locals is a guaranteed LOSS.
The only advantages are multi-national companies that have the clout and weight to ink deals directly with the Officials and hold them to those long-term deals and agreements. Even these MNCs run into problems regardless. And those deals are favorable due to the low-cost of labor which is currently still Vietnam.
Everything else, especially for individual foreigners, investors, etc. run highly the risk of total LOSS.
Yup, this is the problem dealing with a friend who has a friend who knows someone.
This is the worst corruption in the works. I am sure so many innocent investors and home buyers are loosing a lot of money because of this.
The whole system is corrupted, that's why. Some buildings they allowed to be built and the first owner sold the building to the second owner and it was demolished due to lack of permission. This corrupted government is robbing people of every corner of their lives. This is real SAD for Vietnamese!
Beautiful cinematography and content. Your video quality improved a lot. Overall, great production on this one 👏
Thanks!
Phuc Quoc is perhaps the worst place to visit in Asia. It's a complete dump with overpriced hotels which serve overpriced terrible food, terrible service and nothing to do. Each hotel is isolated so you are stuck there with no options. The big tourist attractions on the island are the night market which is a tiny, unsanitary filthy dump, and Grand World with is a bunch of buildings with 90% of tenants out of business, and Vinwonders which is another waste of money. Do yourself a favor and avoid Phuc Quoc. It's a very overpriced and ugly garbage dump with trash and construction everywhere, poor service and bad food.
Based on that Vietnam is very risky to invest.
I agree
The CZcamsr vnch from America prevent Vietnam 🇻🇳
I'm glad you are talking about the issues surrounding Phu Quoc. I had visited the island a few years ago and really liked it. I was going to visit it again but read so many bad reviews about the place that I decided to go to another destination instead (Mui Ne--very pretty area). It's a shame that such a beautiful place like Phu Quoc has turned into a blighted area. I hope it will recover in the future so I can visit again. Thanks for this video.
As many things you find in Commie Vietnam, below average quality yet at much higher than average prices, and Phu Quoc is in no exception, unfortunately. Saigon used to be called "the pearl of Southeast Asia" and the envy of many regional countries, of course, before the Vietnamese Commie terrorists invaded it and turned it into "the testicle of Southeast Asia".
Phu Quoc islands properties had boomed with the highest price resulting in high service, foods, tourists also Vietnamese got rid off by the sellers (bad reputations) at all.
Why am I not surprised. Such a lawless country. Ans anyways, which lawyers did the due diligence on this sale transaction? Isn’t the first thing to check that the land is zoned correctly ??????
The utter incompetence at all levels is just breathtaking.
Thank you so much Ken sir , always love to see the Vietnam 🇻🇳 ❤ through your channel, absolutely amazing video quality, may be next year I'm coming to vietnam 🇻🇳 and i have plans to open up my business there very soon.
Great video, I appreciate the transparency and honestly you have Ken as much of Vn media dont show this. Although, are you not scared to share these information while being in Vietnam? I think I would
This is a well-known issue in Vietnam and our law firm always operates within the boundaries of local laws. Thank you
@@duongglobalbusinessconsulting What LAW? Vietnamese jungle law?
Bribing used to be a thing on everything, even at airport in Vietnam, maybe it’s still going on and it’s the main reason those illegal houses kept building up without consequences
Hối lộ, tham nhũng căn bệnh hết thuốc chữa. Nó là rào cản phát triển của Việt Nam.
Shit built and during rain season, it’s all flooded!
I wouldn't demolish as the government, I'd forcefully take it away not just not compensating the owner but put a fine on top as well.
It would solve not much illegal development in future and also if someone steps out of line will provide property for people in needs or government can rent it out and use the money to help solve poverty, homelessness, malnourished kids etc etc.
I thought china bought phu qouc island for 99 years lease,
Local officials are not to be trusted gosh...
I like your channel very informative 👍 thank you
there's just no need to buy property there unless you are married to a Vietnamese woman. even then I would only make the investment 40% of total assets. Single and working men should just rent and invest in A grade global property trusts if they want a decent income, high liquidity and low stress.
The sad thing in VN is the people are ignorant and/or misinformed about the law of the land. The majority still thought they can “sell” the land but in fact they can only “transfer the right to utilize the land” because an individual or group cannot own lands in VN. According to the law, lands in VN are owned by the People and managed by the government meaning that the VN Communist Party can do whatever they want with the land and corrupt officials will receive money from developers under the table to repossess any land they want.
corruption is everywhere in VN !
Wow you said it so well. Wish everyone could see under the table
If you don’t know 1 Million USD with 10 thousand $100 bills weigh about 10 kilograms (22 pounds). Therefore when you see a business man carrying a suitcase into a government building it’s probably greasy money for the officials.
What a mess.
It's really sad what the have done to Phu Quoc. They built a horrific copy of Italian towns there merely for tourism. Everything is becoming very ugly in PQ, I mean very ugly😢
The buildings at Grand World and man-made river look so fake. They are building hotels immediately right next to the used-to-be beautiful beach fronts, contaminating the ocean water. I sat there and cried seeing this. They destroy nature beauty and natural habitats. Tourists come to Phu Quoc for its prestine beaches, and tropical forest, not the fake-Italy and artificial theme park and water park. Safari zoo remains to be a good opened zoo that I enjoyed to see.
What should you expect for building illegally? In the US the government can sieze your property also. Nothing new.
Eminent domain.
In the US before you build anything, you present your case to proper authority to get your permit to build, so later nobody can demolish your property. Also in the US, if you have permit to build, you can challenge in court. In Vietnam it’s just a stroke of a pen.
I appreciate the transparency that you offer... I currently have been thinking about investing in vn.. just trying to do as much research as i can.. thank you
don’t do it
I don't see this as a bad thing. Something similar needs to happen in the US.... houses in the US are so unaffordable because large corporations are buying up houses, driving up prices.
The end effect is the same, making housing unaffordable for the average citizen.
These companies and their managerial employees should be banned from construction nationwide
2001, spent time in Vietnam, fell in love. Wanted to retire there, from the USA. Glad I didn't
Punishment is needed to those who think they are smarter than government.
those villas could be removed to another location in stead demolishing them. There are many companies taking care removing houses, churches,....in Việt Nam.
Insane.
Very good video thank you
Thank you!
Same thing in the US, you build on government land or not zoned for your current property type, they'll force you to knock it down. The only difference is that Vietnam has many investment scams, more than the US, but there are still scams in the US.
I have a question for Duong GBCG. Does Phuc Quoc have a waste water treatment Plant? And if so are all buildings conected to it? Or is all the waste water going straight out into the sea? Thanks for a good program
Thanks for your comment. Sorry, we do not know about that.
Most of the so-called "investors" are locals with connections. Most of them come from other places outside of Phu Quoc. I heard that most of them come from northern provinces, on the other side of the 17th parallel. They have been playing this game for many years. They know the system well, and it's the risk they are willing to take.
when u buy land including house on it, u must get land deed from national land department to ensure ur land owner. if that a normal process in vietnam, how can it be public?
It’s like that in vn. Only greedy people buy houses/villas without the ownership.
I would not say bad about the vn law, because it’s fine, I would say the bad is the “victims” themselves as they know they’re doing illegal deeds but for geed they accept it and even spoil the local authority to reach their goals.
Corruptions from local to states got good shares and silenced the countrymen.
BUT HOW IS IT POSSIBLE TO BUILD ON PUBLIC GROUND WITHOUT THE AUTHORITY'S KNOWING.
For investors: invest in something else like coffee shops, English centers but not properties if you don't have experience
Good advice
Coffee shops.... you know how many there are already all over vietnam?
Coffee shops? That’s what Vietnam needs - more coffee shops!
Very sad about Vietnam 😢, thats true, they raise prices for the foreigners, not just the being normal price.high prices for foreigners
Are you supposed to get the permit first from the government before building the property?
Yes.
Thanks 🙏
What’s happening with Bamboo Airways?
It is a minefield Get a good lawyer Deal with people u know and trust. Trust should always be the starting point for business.
Can I add my name as a share with the local vietnamese when buying a landed property in the sub sales market?
Is investing in a ETF safe. VNM i was looking at.
That is more than " Next Level " corruption. Who is the crazy whom thinks to invest in Vietnam after knowing this ?!
Not really. You should know that there are many greedy people in vn they know but just ignore the law and spoil the local authorities to reach their goal. If you buy a land/house with legal papers, noone can touch your property even the local authority. Keep away from fishy people who call for fishy investment (no legal base ones)
If these people are living in villas and the Vietnamese government is tearing them down, I'm pretty sure they'll be ok.
Even if that is so, it doesn’t make it right. Money do not fall from trees. If it is honest money, they worked hard for it.
They take land from poor farmers too.
Sounds like some of the local officials and developers are in need of some 're-education'!
Keeping in your mind that just outlaw guys built houses on the public lands, they already know they don't be allowed, they bribed a locals authorities in giving them at their own risk take in anything happens to their money.
how do i transfer condo ownership in district 2 and how to obtain pink papers for condo bought 5 years ago?
Send us an email to contact@businessconsulting.com detailing your case and we will be happy to determine whether we can help.
Collusion, corruptible practices , poor investors!
I am curious about what you said about certain entertainment is legal in Phu Quoc but not somewhere else. So what is this entertainment?
He is probably talking about casinos.
No title search? No title company?? No title insurance certificate??? Then no wire. 😂😂😂😂
This is Vietnam’s Evergrand. Building a bunch of houses no one can afford or demands. Only to be put down later.
Building a house takes a lot of time, govt officials aren't roaming the island looking at what is being built and checking permits?
They do know but they get pay off to ignore it.
@@VN-BURNERThey need to trace back to whoever is in charge at that time and fired them all for corruption, put them in jail and also take their houses too, this is a lesson for the next corruption official to think about if they are going to do this. Also take their relative houses too, because they will hide their money there also.
@@dangda-ww7de Unfortunately that's not how the law works over there. The government official rarely get charged with crimes. It's suck for those people that put their life saving buying these house and now left empty handed. There are so so many real estate projects belly up in Vietnam just like China.
@@VN-BURNERThe motherland is only good to visit but never a good idea to do business or buy property there. Why did you think we all escape vn. I feel sorry and bad for the people that live there.
@@DesignIsDestiny Quasi-state owned VinGroup got the bulk of its wealth from colluding with the Vietnamese Commie regime to build real estates on robbed lands of the Vietnamese citizens. Unlimited profit, zero liability, under Commie regime. Commie companies like VinGroup and its subsidiaries like VinFast could and can only thrive under monopoly system without competitions under authoritarian regime, and not in any free market system. Once they tries selling products or services under true capitalist system, they fail miserably. Look at VinFast junks for cars only bought in Commie Vietnam but rejected everywhere else on earth, and how its stock VFS cratered soon after its scam IPO on Nasdaq.
YOU CONSTANTLY USE THE TERM "OWN" WHICH HAS A DEFINED MEANING. BETTER YOU USE THE TERM "LEASE" OR "OCCUPANCY/USER PERMIT" SO FOREIGNERS ARE ALERTED TO THIS STATUS.
IN HCM THERE ARE GOVERNMENT DOCUMENTS THAT DETAIL FUTURE FLOOD AREAS. SIMILARLY TO BANGKOK THERE WERE MANY FORMER CANALS & WATER WAYS (OR COURSES) THAT WERE FILLED IN DURING THE FRENCH OCCUPANCY. NATURE HAS A NASTY HABIT OF RECLAIMING THESE WATER WAYS.
DETAILED RECORDS ABOUT EARLY VIETNAM ARE HELD IN FRANCE. I EVEN FOUND MAPS DETAILING LONG GONE VIETNAMESE RAILWAYS IN TORONTO.
WHEN MY BUSINESS WAS LOOKING FOR SPACE IN CHOLON IT TOOK THE BEST PART OF A YEAR TO DETERMINE CLEAR TITLE.
HA NÓI CITY HAS A HISTORY OF HARSH TREATMENT WHEN IT COMES TO CUMPULSORY RE-OCCUPATION, HCM LESS SO.
Does your keyboard come with a cap function, as you constantly use capital letters in your comments? Writing in all caps is seen as screaming, which we hope you are not. Are you angry?
I assume Govt officials who are responsible for new construction aren't doing their job?
They are doing their jobs by taking bribes, that’s their main objective as gov officials.
Job = opportunities and opportunities = money in their pockets
Can you cover topic on how true owners can come back to VN to take back their properties that were left behind when they had to leave for US.
We did. Check out this video for more information czcams.com/video/86ddMQmL5lI/video.html
That video talks about community property but doesn't touch on concerns for those who left Vietnam and were told to surrender their property or couldn't sell before leaving. Can you also cover the topic of heirs with wills trying to reclaim property in Vietnam upon return, and if paperwork is lost, the potential options for property retrieval. Thank you.
In addition, could you share any legal websites we can visit for conducting our own legal research from abroad. Thanks, again.
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SUBSCRIBE !! SUBSCRIBE !! SUBSCRIBE !! & THUMBS UP TO KEN'S HARD WORK & VALUABLE VIDEOS. THANKS KEN
lesson learn dont buy or invest real estate in Vietnam. If you travel to work, you should rent your accommodation.
You can visit Vietnam, but never buy property.
Kind of sus if you ask me. How did the government not know they were building entire villas on “public lands”? The entire process takes months even years to complete. After they finish building then the government moves in to demolish the building? Doesn’t make any sense. I’m guessing it’s a deal gone bad or the investor and the government couldn’t come to an agreement so action was taken. Plus before developing and building you have to get permits signed off and permission to begin the process. You don’t just pick a spot and start building. Anyways…SUS 😂
When I was in phu quoc Sun group people were there at the same time they acted as if they were gods. My husband has a high level job too but he doesn’t act that way… my husband will get a kick out of this. Interesting cus we bought nice seats on the flight back to Saigon they didn’t give us this at all.
Thinking about it I've seen similar things happen in the US. Depending on where you are determines who you have to bribe with campaign contributions. Normally though in the states one of your neighbours decides to be nosy and controlling, they call all the revelant authorities to come harass you, lol
Ain’t that the truth 40 years ago my father bought a house in West Miami Florida. He wanted to do some small upgrades. Every time he went to the City Hall the permit department he would be denied not only that they would send inspectors periodically to make sure that he wasn’t doing anything, we ended up moving the lady at the permit department, had a real hard on for him
The story of the Karens ¯\_(ツ)_/¯
Or they drop by for some "coffee money". This happens a lot in the countryside.
Good day Ken,
Great video & you don't hold back you call it out.
Why 1 simple word " GREED ".
I wouldn't touch anything in Vietnam 🇻🇳 without your okay.
Hope you, your family & all your staff are well.
Cheers
Louis Kats your number 1 Fan in Melbourne, Australia. ❤ 😊
Corruption 😊
Vietnam is cheap. As a foreigner you probably won't get killed by a thief. There are some beautiful places to visit for a day and then leave. If you like VN food then you can eat all the Vietnamese food you want...cheap. There I've covered the PROS but I won't get into the CONS as I have things to do today and don't want to bore everyone for an hour. Yes I lived there for two years and have little interest to ever return.
👍👍👍
Ya..ya…whatever
Do you have anything good to say about Vietnam? It appears to be not better than China.
Yes, if you watch our channel, 90% of the videos are very positive, and we have made over 400 of them. You are welcome to watch them too. Thank you
You are contradicting yourself with statement "If you want to own both the house and also the land, then you would need Vietnamese citizenship". The fact is no one with Vietnamese nor foreign citizenship can legally officially own land in Commie Vietnam. Of course, some top Commie Vietnamese government officials can, especially with the blessing of their masters Commie Chinese, unofficially so, as they don't get land-robbed, but do the land-robbing themselves.
Based on the history of comments you wrote on our channel, probably selective hearing from your part. 17:51 . Why would our attorney contradict himself? Can own the right to use it. It is called the red book and only available to Vietnam citizenship holders. Hope it helps
Red or Pink book owners only can utilize the land to build but cannot own the land because the land belongs to everyone in VN. So in order to keep your property from being demolished make it movable like a mobile home.
@@duongglobalbusinessconsulting Your reference 17:51 that stated "as a matter of fact Vietnamese cannot even own land it's only constructive ownership and use of the land so as a Foreigner you have a 50-year lease on the property" just proves my point that you were contradicting yourself with the latter statement "If you want to own both the house and also the land, then you would need Vietnamese citizenship". Is that not so?
Absolutely not. It is clear that your comment shows disdain for subtleties and nuances. Owning land according to Vietnam's residential and commercial civil law, as we have repeated many times, means the right to use land only. Thus, both terms are used interchangeably. And there is really nothing to argue here. Just like passports that are are government property and can be revoked any time. We use to say "my passport", "your passport". But it is technically not yours, as it belongs to the country that issued it. In the same vain, we are not going to say "the passport that belongs to the country issued to your name" to say "your passport", as it would be too redundant and unhelpful. That is the same figure of speech for owning land in Vietnam.
But, we believe that you already know that and that you just engage for ideological reasons, which is totally understandable as long as it does not derive into pointless arguments and bitterness. Writing "commies" in most of your comments is redundant and does not offer valuable information. If our videos make you feel aggravated and bitter, why keep watching them? It is most certainly unhealthy for you and unpleasant for us and other viewers when reading the same comments over and over again.
@@duongglobalbusinessconsultingIf so, that can conceivably create confusion for the listeners because in one statement you emphatically made the distinction between "the right to use land only" versus "owning land", and in the next statement you used them interchangeably and referred to that as "nuance", as you described above. Don't you think so? Regarding my references to "Commie", that was to differentiate it from the un-Commie, or free, Vietnam, and actually for the benefit of the readers who have never had experiences with the un-Commie Vietnam, and as a result, tended to think Vietnam has always been as corrupt, oppressive, brutal, incompetent as the Vietnamese Commie regime has constantly behaved, albeit for decades now. To me, facts are beneficial and healthy, because they ethically raise true awareness, while the opposite or sugarcoating half-truth, even with the best intention, can be damaging if not deadly in the eventual outcome. I am sure you know that there were quite a few starry-eyed "investors", both foreigners and Vietnamese expats, who learned it the hard way and essentially lost all their life savings to the Vietnamese Commie regime after being lured there by lies and/or half-truths and substantially invested without doing their due diligence, now without recourse, legal or otherwise.
A common Vietnamese mess! And have you seen the design? If only you could put the developers on trial for poor design
Phu Quoc is the best area to visit. don't believe the haters
Which part of communism that you just don't get?
Right, coz this ONLY happens in 4-5 countries…wake up!
As a Ken same the dog 🐕 vnch California bracke