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Sunday, September 21, 2014 6:56:19 AM
Many FDI projects in Vietnam’s real estate sector
Source: SGGP - 1/25/2013 4:05:16 PM
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At the end of 2012, 389 Foreign Direct Investment (FDI) projects in real estate worth US$49.8 billion were licensed, according to a report of the Ministry of Planning and Investment released yesterday, January 24.
Thus, Foreign Direct Investment in the real estate sector accounts for about 23.32 percent of total FDI in Vietnam.
Ho Chi Minh City attracted the bulk of FDI with 163 projects worth $12.4 billion, followed by Hanoi, Ba Ria-Vung Tau, Phu Yen, Binh Duong and Dong Nai.
Singapore is currently the largest foreign trade partner in Vietnam’s real estate sector with 55 projects and capital of $8.6 billion. The Republic of Korea ranks second with 79 projects worth $6.7 billion.
Most foreign investors are involved in the construction of luxury hotels, resorts, offices for lease, and high-end apartment buildings.
According to the Ministry of Planning and Investment, progress was made in FDI disbursement, but a number of projects were moving far too slow due to policy issues on land use and management.
Compounding the problem were difficulties caused by economic slowdown, inflation, land acquisition and compensation, and complicated procedures on investment licenses.
To attract more foreign investors, the Ministry of Planning and Investment suggested simplifying investment procedures, reforming the legal framework on mortgage loans, and setting up funds for housing development in specific localities.
Source SGGPOL, translated by Dan
Money flows into southern realty
Construction Ministry: Too many housing projects licensed
Maximum land price to be increased
Office rentals in Vietnam higher than Malaysia, Philippines
New conditions for foreign home buyers
Minister of Construction urges more low-income housing
Real estate signals recovery
Thang Long boulevard becomes ghost estate of dismal housing
Property owners in race to sell houses
Housing sector targets middle class
State lender stimulus mooted
30-40pct projects need to be retrieved to save the real estate market
No respite for Hanoi real estate
A coldly picture of foreign invested real estate
Government policies forecast to shake up property market
Provinces blamed for realty market problems
No respite for Ha Noi real estate
Land still as expensive as gold in “golden land areas” in big cities
Land management misconduct in Da Nang
Property firms hit the wall
August CPI growth hits 9-year low
CPI prolongs rise in major cities as food costs increase
National CPI rises 0.23% in July
CPI increases in Ha Noi, HCM City
Hanoi’s CPI increases by 0.18% in July
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