Seminar on developing real estate in Vietnam

Saturday, 2018-08-11 17:47:40
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, Assoc. Prof. Dr. Vu Dinh Hoe, Deputy Editor-in-Chief of Vietnam Economic Times
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NDO – A seminar on developing real estate in Vietnam, named ‘Vision and Prospect’, was held by the Vietnam Economic Times in Ho Chi Minh City on August 11, featuring the participation of 300 leaders and enterprises.

The event was attended by Ngo Dong Hai, alternate member of the Party Central Committee, and Deputy Head of the Party Central Committee's Commission for Economic Affairs.
Speaking at the event, Assoc. Prof. Dr. Vu Dinh Hoe, Deputy Editor-in-Chief of Vietnam Economic Times, said that real estate is a big asset of each country. The real estate market accounts for 40% of material wealth, 30% of the total activities of the economy in meeting the demand of living, and is a great asset of each organisation, household and individual, he added.

Real estate is also an effective investment channel for mobilising abundant financial resources in the nation and abroad, stimulating the related industries, increasing revenues for the budget and solving employment, while increasing the contribution of the finance, construction and building materials markets.

The reports from the Foreign Investment Agency (FIA) showed that the proportion of capital poured into the real estate sector ranked second, accounting for more than 27% of the total foreign direct investment (FDI) in Vietnam.

It is estimated that, in the next 10 years, the total new home demand will reach 5.1 million low and middle-priced departments. The pace of urbanisation not only increases the demand for housing but also stimulates demand for real estate for tourism and convalescence. It is necessary to provide urgent solutions to the pressure of population density in urban areas.

The seminar focused on two topics: New Context and Vision of Vietnam Real Estate Development; and Smart Real Estate Development: International Experiences and Practical in Vietnam.