According to the Vietnam News the Ministry of Construction (MoC) has proposed to delay the submission of a Vietnamese development plan on foreign direct investment for the real estate industry to the government until August at the prime minister’s request.
The ministry said some ministries and 18 cities and provinces had not yet sent in reports on developing FDI for the property industry, including the ministries of Justice, Finance, Planning and Investment, the State Bank of Viet Nam, Ha Noi and HCM City.
Due to this the ministry could not complete the plan on improving investment quality, State management, efficiency and orientation of foreign direct investment to the real estate industry by 2020 and submit the plan to the Prime Minister in May as required.
The ministry sent an official letter to 350 enterprises in January asking each to each to report on implementation of their foreign invested projects in the property industry. Only 54 of the firms have replied.
The ministry said some ministries and 18 cities and provinces had not yet sent in reports on developing FDI for the property industry, including the ministries of Justice, Finance, Planning and Investment, the State Bank of Viet Nam, Ha Noi and HCM City.
Due to this the ministry could not complete the plan on improving investment quality, State management, efficiency and orientation of foreign direct investment to the real estate industry by 2020 and submit the plan to the Prime Minister in May as required.
The ministry sent an official letter to 350 enterprises in January asking each to each to report on implementation of their foreign invested projects in the property industry. Only 54 of the firms have replied.
The Ministry of Planning and Investment (MPI) said that FDI for the property industry this year was expected to reduce against previous years. During 2008-10, FDI accounted for 34 per cent of the total amount poured into Viet Nam, but accounting for only 5.8 per cent in 2011.
This year an increase has been expected in FDI to the property industry due the revenue that came in during the first form months of the year, of which much was put into the Binh Duong New City project in southern Binh Duong Province.
According to property service provider CBRE Viet Nam the wave of M&As in the property market was expected to develop in the coming time because of difficulties in liquidity face by construction firms.
CBRE said that current prices are at a low rate for property sellers, but for buyers or investors, such figures would be a good chance for them to purchase property at real prices.
This would boost the boost the volume of FDI to the property industry this year, CBRE Viet Nam managing director Marc Townsend said.
Alex Loh, head of SP Setia Representative Office in Viet Nam said many property investors, especially those in the domestic market, who had great difficulty in financial resources, have sought partners to develop projects.
Loh also said that the property market has different development periods and now it is facing difficulties in capital and trading activities, but in the long term, would still be considered a potential investment destination.
Credit : Property Report Asia
This year an increase has been expected in FDI to the property industry due the revenue that came in during the first form months of the year, of which much was put into the Binh Duong New City project in southern Binh Duong Province.
According to property service provider CBRE Viet Nam the wave of M&As in the property market was expected to develop in the coming time because of difficulties in liquidity face by construction firms.
CBRE said that current prices are at a low rate for property sellers, but for buyers or investors, such figures would be a good chance for them to purchase property at real prices.
This would boost the boost the volume of FDI to the property industry this year, CBRE Viet Nam managing director Marc Townsend said.
Alex Loh, head of SP Setia Representative Office in Viet Nam said many property investors, especially those in the domestic market, who had great difficulty in financial resources, have sought partners to develop projects.
Loh also said that the property market has different development periods and now it is facing difficulties in capital and trading activities, but in the long term, would still be considered a potential investment destination.
Credit : Property Report Asia
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