A workshop was held in Hanoi on September 12 to provide Indian enterprises valuable insights into Vietnam’s real estate market, thus improving their understanding of investment opportunities.
The event in Hanoi on Sept. 12 (Photo: VNA)
Hosted by the Vietnam Chamber of Commerce and Industry (VCCI), the event was expected to reinforce links between businesses in Vietnam and India.
Vietnam has a large potential for developing residential and tourist real estate, as well as construction in general, due to Vietnam’s rising demands, Secretary General of the Vietnam Association of Real Estate Tran Ngoc Quang said. Thanks to the Vietnamese Government’s assistance in implementing financial support policies for enterprises to improve liquidity and gain access to loans, the Vietnamese real estate market was evolving and growing , according to VCCI Deputy President Doan Duy Khuong.
The Government also pledged to improve the legal framework, and simplify administrative procedures to boost the recovery and development of its property market. The move provided opportunities for businesses to increase their investments in the sector.
With nine new investment projects registered during the first six months of 2014, real estate ranked third out of all of Vietnam’s economic sectors in terms of attracting foreign investment.
According to VCCI, India is one of Vietnam’s 10 largest trade partners. Bilateral trade with India hit 5.2 billion USD in 2013, up by 30 percent compared to the previous year.
India is currently operating 77 projects in Vietnam with a total investment of 254 million USD, focussing on the manufacturing and mining industries.
Source : VNA