Sunday, June 29, 2008
More Economic Liberalization Ahead for Vietnam's Property Investors
Speaking recently at Real Estate Investment World Asia 2008 (26-28th June 2008), Vietnam's Ambassodor Nguyen Trang Thanh has indicated that there is a more for more reforms to improve investment prospects into Vietnam's property market.
“Vietnam will make it much easier for business and investment by ensuring market rules are fully in line with demands of international economic integration and internationally-accepted practices and rules.
“We know there must be greater transparency, openness and equal opportunities for all economic sectors to be on competitive ground to participate actively and efficiently in the market.
“We’re now diversifying real estate products developed [into] houses for rent, offices and business space.
Appropriate measures will be taken to boost demand for low-income housing customers and enhance competitiveness in the domestic real estate market as compared to other markets in the region to make it more attractive to investors.
“The government, from the central down to local levels, will improve planning in land use and real estate development.
“There’ll be additional reforms in the land financing policy."
Given Vietnam's overheating property market, these reforms will make foreign investment easier and hint of much needed reforms to land financing itself. Real estate investors should take particular attention to these reforms as continued opening of Vietnam's property market should present many opportunities to the astute investor.
Labels: vietnam economic liberalization, vietnam property, vietnam property investment, vietnam property investors, vietnam realestate
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