3:20:47 PM | 1/10/2008
Vietnam has been listed among Asian countries with the most attractive investment opportunities in the real estate sector, said experts at a conference “Vietnam’s Real Estate Market 2008” held Sept 23 in Ho Chi Minh.
The country attracted a total foreign direct investment (FDI) of over US$47 billion so far this year with property projects accounted for up to 50 per cent of the figure, reported the conference.
Ho Chi Minh City stands second nationwide in luring FDI in the period with US$7.9 billion, including 90 per cent of this figure poured into the real estate sector.
The event, jointly organized by the Ho Chi Minh City Foreign Trade Department and Singapore’s International Quality and Productivity, draw the participation of representatives from local and foreign realty firms.
Experts said Vietnam’s property market is witnessing a new business trend of joint ventures between local and foreign firms. The cooperation will help Vietnamese property companies to deal with capital difficulties and also create favourable conditions for foreigners in investment procedures.
Vietnam will welcome a new wave of Singaporean investors into the real estate market in the coming time, said Do Thi Loan, Secretary General of the Ho Chi Minh City Real Estate Association.
Ms Loan also noted that investors from other countries such as Canada, Malaysia and B.V. Island are arriving in Vietnamese realty market to seek their fortune as the country has just embarked on the urbanization process. (VNA)
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