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(Bloomberg) — Time is running short for Vietnam to prevent a worsening property-sector credit crunch from derailing one of the world’s fastest economic expansions.

With about $4.6 billion of property developer notes tracked by Vietnam’s bond association coming due next year, firms will struggle to meet obligations without government support, according to local real estate executives and analysts. Funding has all but dried up after an anti-graft campaign spooked investors and authorities froze new bond issuances across the industry.

The looming maturity wall risks triggering a wave of defaults that could turn the property woes into a wider crisis for the banking sector and the economy. While the absolute scale of Vietnam’s property debt is tiny compared to that of China, the industry still makes up about 11% of economic activity. Mounting worries of a China-style hit to growth are prompting calls for Vietnam’s government to act before it’s too late.

“The real estate sector is undergoing a major crisis,” said Tran Xuan Ngoc, chief executive at property developer Nam Long Group. “We don’t know when the crisis may pass as it depends on the government’s actions.”

At stake is an economic expansion projected by the International Monetary Fund to

A West Kootenay property owner is seeking fair compensation for landowners across the province.

Pend d’Oreille resident Jim Urquhart is putting out the call to BC landowners who have electrical transmission line right-of-ways on their private property, to come together and discuss what the government and civil society have determined constitutes fair, owed land-use compensation.

“It is time that utilities in BC paid the same land-use compensation that other energy producers in BC and Alberta that place above ground structures on private property consider fair,” said Urquhart. “If landowners in BC are ever to get fair, owed land-use compensation they will have to come together.”

Urquhart says that landowners are excluded from government funded advocacy offices available to other landowners in BC and Alberta facing similar circumstances.

“The problem is the framework that the BC utilities use to decide their compensation payment is based on a land value and there is no correlation between a land value and the total impact value for which landowners are owed.”

BC Hydro spokesperson, Mary-Ann Coules, confirmed that the majority of Statutory Right-of-Way (ROW) agreements are granted in perpetuity and are registered with the BC Land Title and Survey Authority.

Jim Urquhart has been

Tag: land

Property Crisis Pressures Vietnam to Act Before It’s Too Late

West Kootenay landowner seeks fair land-use compensation from power companies