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Last updated: Wednesday, May 15, 2019


Promoting Vietnamese Real Estate Market

Posted: Monday, September 24, 2018

Under the chairmanship of the Vietnam National Real Estate Association (VnREA) and the United States National Association of Realtors (NAR), the International Real Estate Conference (IREC 2018) took place over five days from September 5 to 9, 2018, in Hanoi. This was the fourth conference held by NAR, the first in Vietnam.

IREC 2018, themed “Vietnam - A World of Opportunities” featured many interesting events such as introductory conference, investment promotion, VietBuild real estate exhibition, and global property market forum.
According to Construction Minister Pham Hong Ha, with their development place, global and Vietnamese property markets have made positive contributions to the strong and sustainable development of economy and social security as well in Vietnam. The Government of Vietnam has made great efforts in building a comprehensive legal framework for the real estate market. It particularly appreciates the positive and active role of domestic and international real estate businesses in Vietnam. It also welcomes and appreciates the Vietnam National Real Estate Association for hosting this international real estate conference.

Sharing about the Hanoi real estate market to investors around the world, Mr Nguyen The Hung, Vice Chairman of the Hanoi People’s Committee, said that Hanoi is now the most vibrant property market in Vietnam. In the coming time, in addition to focusing on completing the traffic network and infrastructure and forming many new urban areas, the capital city will accelerate the reconstruction and renovation of the inner part while expanding new urban areas to make Hanoi the best city to live.

Speaking on behalf of US businesses, Mr Daniel Kristenblink, US Ambassador to Vietnam, said he hopes to see deeper and broader trade ties between Vietnam and the United States, and that many US companies are doing business in the Southeast Asian nation. He believed that Vietnam has created a favourable legal environment for US and international businesses in general to do business.
Standing for the Vietnamese business community, Mr Doan Van Binh, Vice President of the Vietnam National Real Estate Association and President of CEO Group, said, “Vietnam still has many opportunities to become a tourism power of the world.”

The big boost for this ambition is the Politburo's Resolution 08-NQQ/TW that defines tourism as a spearhead economic sector. Accordingly, by 2020, the tourism sector will basically become a leading economic sector, create a driving force for socioeconomic development, attract 17 - 20 million international tourists and 82 million domestic tourists, contribute over 10 per cent of the nation’s GDP, earn US$35 billion from tourist services, and create four million jobs.

Based on the Master Plan for Vietnam Tourism Development to 2020, with a vision to 2030, adopted by the Government in 2013, the Vietnamese tourism sector’s performance in 2017 approximated to objectives set for 2025, with the number of domestic travellers in excess of the target.

Leaders of Quang Ninh province, which is very rich in tourism development potential, have made strong commitments and rolled out a red carpet for domestic and international investors. “Quang Ninh lies in the service and tourism development triangle consisting of Hanoi, Hai Phong and Quang Ninh. It aims to become a modern industrial service province, an international tourist centre, a national tourist destination, and an economic engine of the northern region and the whole country as well.”

CEO Group is carrying out a world-class resort, Sonasea Van Don Harbour City, in Van Don, Quang Ninh province. This is the first world-class resort operated by world-renowned hotel manager Accor Group in the fashion of three brands, one destination, including Pullman, Novotel Suites and Ibis Style.

Apart from sea tourism, Vietnam also attracts tourists with its local cultural identity discovery. Southwest provinces are famous for rivers, canals and gardens, while Quang Binh province is renowned for its stunning caves.

IREC 2018 not only brings opportunities for international investment cooperation, but also promotes the image of Vietnam and Vietnam's potential to develop the most in the region, and upgrades the Vietnamese real estate market on the world map.

Luong Tuan

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