04/10/2017 | 17:07:05

FDI into real estate exceeds 51 billion USD

Accumulated foreign direct investment (FDI) in the real estate sector reached 51.1 billion USD as of the end of September. (Photo: VNA)

Accumulated foreign direct investment (FDI) in the real estate sector reached 51.1 billion USD as of the end of September, accounting for 16.5 percent of the total FDI in Vietnam, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

The sector recorded 3,500 newly-established firms per year, accounting for 3.7 percent of the total newly-established firms, according to the Jones Lang LaSalle (JLL) Vietnam.

Chief Executive Officer and Director of Indochina Capital Peter R.Ryder acknowledged that Vietnam has created much more favourable conditions for foreign investors, particularly the partnership with local firms.

JLL General Director Stephan Wyatt said foreign investors have showed interest in industrial parks, especially when the Government of Vietnam offers numerous incentives for developing those facilities.

Director General of the United Overseas Bank – Ho Chi Minh City said Vietnam has the opportunity to make a jump in FDI in property sector.

One of the factors assuring foreign investors in property market is the stability in many aspects, including a positive GDP growth rate.- VNA

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