Vietnam well-positioned to develop industrial property

Tuesday, 2019-04-23 16:18:11
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The Vietnam Industrial Real Estate Forum 2019 opens in Hanoi on April 23. (Photo: NDO/To Ha)
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NDO/VNA – Vietnam is well-positioned to develop industrial property, experts said at the Vietnam Industrial Real Estate Forum 2019 in Hanoi on April 23.

The event was co-organised by the Central Institute for Economic Management (CIEM), the Vietnam National Real Estate Association (VNREA) and Thuong gia (Entrepreneur) magazine.

Speaking at the event, former Construction Deputy Minister and VNREA Chairman Nguyen Tran Nam said industrial property is the most attractive segment in 2019, wooing industrial manufacturers in Southeast Asia.

He said investors should grasp opportunities in the field in the short, mid and long terms while the State should offer more incentives to develop industrial real estate in a way that matches its potential.

Deputy head of the Ministry of Planning and Investment’s Department of Economic Zones Management Tran Quoc Trung said as of the late 2018, the country was home to 326 industrial and processing zones with a combined area of more than 95,600 ha, 251 of them put into operation with a total area of over 66,200 ha. The rate of occupancy in industrial parks reached 73.9%.

CIEM Director Nguyen Dinh Cung affirmed that the attractiveness of domestic industrial property is more than the average in the region, which will be further propelled by low labour cost, reasonable land lease prices, and preferential corporate income tax.

Participants presented their opinions on industrial real estate policies and how to tap existing advantages to develop the field.