Hanoi eases rules on using land as collateral

Vietnam has relaxed rules governing the use of land rights as collateral to borrow from commercial banks, a move aimed at stimulating investment, a central bank official said on Tuesday. Until now companies have been required to present a "red book" - a formal certificate of land-use rights which might take several years to obtain - if they wanted to obtain bank loans using land as collateral.

A joint circular was issued by the State Bank of Vietnam, the General Department of Land and the Fina