Vietnam Real Estate Sector Review

Real estate is one of the sector with important position and role for the national economy, have a direct relationship with the financial and monetary market, the construction market, building materials market and the labor market… The sustainable development and effective management of this sector will contribute significantly to promoting economic-social development, creating the ability to attract investment capital, contributing to the development, industrialization and modernization of the country.

There have been more favorable developments for the country’s economy in 2015 and 2015. The prices of oil continued to fall; GDP grows at stable rate around 6%. The inflation rate was controlled at 4.09% average; reduced deposit rates, lending rates were adjusted down to 10%. Foreign direct investment in Vietnam reached US $ 20.23 billion, exceeding 19% compared to the target (17 billion dollars) and expected in increase in 2016.

Mr. Nguyen Tran Nam, Former Deputy Minister of Construction, president of the Vietnam Real Estate Association, said the real estate market has been recovering, particularly in 2015. There were 40,000 successful transactions, increased 75% compared to 2014 in only Hanoi and HCM. In addition, the Vietnamese laws have changed which allow foreigners and Vietnamese people living abroad to own real estate in Vietnam from January 7/2015. The metro construction projects in Hanoi and HCMC, modern road system construction suchas Nhat Tan Bridge, Long Thanh – DauGiay highway … are also factors contributing to boost the real estate market.

Along with these positive factors, the volatility of the financial markets due to the impact of political issues and global movement (the gold market, securities, forex have reduce the lending rate) has turned the property into a safe place for investment at the moment.

In the current favorable environment, the property becomesa channel to attract investors who want to own property not to live but to invest in. This is an appropriate time for investment after nearly 7 years. In a report, Mr. Marc Townsend, Managing Director of CBRE Vietnam, saidthat ” in 2015 the real estate market will witness the spectacular comeback of property speculators”

According this report, if in 2014, cheap apartment was considered as the hottest segment of the market, in 2015, the segment of medium and high-end apartments returned to be the hottest attraction. According to data from CBRE, yielding from investing in luxury apartments in Vietnam is quite high compared to other countries in the region (7- 8% compared to 3% in Singapore, 4-6% Bangkok and 4% in Hong Kong). With a minimum profit margin of 7-8% a year and the highest one at 15-20%, this segment is attracting the attention of real estate speculators.

The project with big scale which delayed during freezing period such as Goldmark City, Sapphire Palace, Gemek Tower in Hanoi, Vista Verde, the Park Residence, Le Meridien, City Gate Towers, has been released to sell up.

As reported by CBRE, in the quarter 4/2014, in HCM, it was recorded that 6670 apartments were offered, increased 117.8% from the previous quarter and 150.2% over the same period last year. For the whole 2014, it was sated that 60% of 14 807 apartments from 37 projects were offered while this figure was 47% in Hanoi of total 16,200 units from 31 projects.

In terms of price, the projects inside the city and surrounding areas with developed infrastructure continue to attract buyers and tends to keep the price high. The average selling price luxury apartments in Hanoi and Ho Chi Minh City are in the range of US $ 1500-1700 / m2, apartment Range US $ 1,000 / m2, the budget – US $ 700 / m2.

The companies with foreign investors are allowed to sublet the property which has been leased or acquire buildings which has been built. This contributes to dynamic of office properties in Vietnam. According to CBRE’s report, in 2014, many office buildings have adopted methods of long-term lease or buy off the area. In 2015, this trend will be more popular in terms of office building.

In the segment of real estate retail, restructuring the dynamics of retail businesses such as Parkson Hanoi Co. and the close of Parkson shopping center in Keangnam Landmark Tower Complex (Hanoi) showed very strong pressure this segment due to increase in supply and competition. With more than 90 million people, Vietnam is a leading nations in the Asia – Pacific region in terms of growth of retail market (9.3% versus 6.3% in Hong Kong, 4.5 1.7% of Malaysia and Singapore). Thus, the segment of retail market is still promising.

A series of big brand to expand the retail network such as as Aeon Group (Japan) plans to open 20 hypermarkets in Vietnam. Vinmart plans to build 9 shopping center, 100 supermarkets and 1,000 Vinmart convenience stores in 2017. Lotte Group (Korea) announced that it would open 60 supermarkets in Vietnam in 2020…

However, in 2015, the new game will be very intensed. According to the CBRE, in 2015-2016, the market will welcome nearly 800.000m2 retail space from 24 projects. Therefore, retailer market will be faced a new challenges. Rising operating costs, the development of electronic commerce and improved knowledge of consumer in purchase decision will be the factors that led to high level of market competition.

Also in 2015-2016, villa projects seem to become very attractive investment in Vietnam. In 2016, Vingroup will launch the resort in Da Nang, Nha Trang, Quy Nhon, PhuQuoc that combines financial investment to attract investors. Especially, at the beginning of March, the Group will launch VingroupVinpearl Resort & Villas project in Long Beach – Nha Trang.

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FDI in Real Estate Reached 1 Billion USD in 2016

The area of real estate business attracted total FDI capital reached 1 billion USD in the first 9 months of 2016.

Foreign Investment Department (Ministry of Planning and Investment) has announced FDI report for the first 9 months of 2016. Accordingly, there were 1,820 newly licensed projects with total registered capital of 11.02 billion USD, increased by 1.1% over the same period. Meanwhile, there are 851 projects registered to adjust capital with the added value of 5.3 billion USD, decreased by 13.9% over the same period.

Generally in the first 9 months of 2016, total newly registered and additional capital reached 16.4 billion USD, decreased by 4.2% over the same period in 2015.

In 9 months, foreign investors have invested in 19 sectorsin which the field of processing industry, manufacturing is the sector attracting more attention of foreign investors with 767 new projects and 608 respectively adjust capital projects.

In 9 months, foreign investors have invested in 19 sectors, in which the field of processing industry and manufacturing are the sectors attracting more attention of foreign investors with 767 new projects and 608 projects register to adjust capital.

Total new and increasing capital to processing industry and manufacturing reached 12.15 billion USD, accounting for 73.9% of total registered capital in 9 months.

In particular, the field of real estate business ranks 2nd with 34 newly registered projects, total capital reached 1 billion USD. The field of professional activities, science and technology ranks 3rd with 649 million USD, accounting for 3.9% of total investment capital…

In the first 9 months of 2016, there are 65 countries and territories have investment projects in Vietnam. Korea leads the way with a total investment capital reached 5.58 billion USD. Singapore ranked 2nd with total investment of 1.84 billion USD. Japan ranked 3rd with total investment capital of 1.7 billion USD.

Foreign investors have invested in 54 provinces and cities in which Hai Phong attracted the most investment capital with 37 new projects and 28 projects register to adjust capital, corresponding to 2.74 billion USD. Followed by Hanoi and Dong Nai with total investment capital of 1.97 and 1.89 billion USD respectively.

Some large projects that are licensed in the first 9 months of 2016 including LG Display Hai Phong with total registered investment capital of 1.5 billion USD, invested by LG Display Co., Ltd (Korea). The goal of the project is producing and processing plastic OLED display products for mobile devices such as cell phones, smart watches, tablets.

LG Innotek plant project in Hai Phong with total registered investment capital of 550 million, invested by LG Innotek Co., Ltd. (Korea) with the goal of producing camera modules.

Amata City project in Long Thanh has a total investment of 309.3 million USD, invested by Thai investor with the goal of building service urban in Dong Nai.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

Cre:http://www.antconsult.vn/news/fdi-real-estate-reached-1-billion-usd-2016.html

Danang Resort Real Estate Is Growing Well

Savills Vietnam has just published a report updating the situation of Danang real estate market in the first half of 2016. Accordingly, the segment of hotel, resort and villa continues to be exciting with the launch of many new projects as well as the presence of many famous brands in the world.

Specifically, according to Savills Vietnam, in the first half of 2016, the number of tourists coming to Da Nang has increased by 28% year on year, while domestic passenger traffic increased by 4% year on year.

Thanks to the flourishing of the tourism activity, only in the second quarter of 2016, the total number of 3 – 5 stars hotel in Danang increased by 4% quarter on quarter and 15% year on year. The average occupancy rate has also increased by 2% compared to the first quarter of 2016. The average room rate has increased by 6% over the same period in 2015.

Place these datas in the context of the tourism industry of some central provinces (from Ha Tinh to Thua Thien Hue), which are suffering heavy losses due to the environmental disaster caused by Formosa in the first months of 2016, it is clear that the attraction of Danang tourism is very good.

Also according to Savills, in the second half of 2016, 3 new projects in the hotel segment, which are expected to enter the market, will continue to provide about 1,320 rooms; including Crowne Plaza phase 2, Hilton Danang Hotel and Four Points under Sheraton. Since the third quarter of 2016 to 2018, it is expected to have 35 new projects entering the market.

For the resort villa segment, Danang is a pioneer in high-end coastal real estate segment and second (after Nha Trang) in total supply with 1,199 villas and 3,367 apartments. The surveys indicate that more than 80% of buyers coming from Hanoi, being attracted by diverse portfolio of products, complete infrastructure, tourism prospects, attractive sales policy as well as an image of Danang as a green, young and dynamic city.

We have to mention the successful projects such as Bana Hill, Ocean Villas, Hyatt Regency, Furama, Intercontinetal and Azura. Moreover, there are large-scale future projects that are Soleil Danang, Coco Bay, Da Phuoc, Han Riverside, Ariyana, Central Coast, Vinpearl Han River and Ocean Suites & Estates. The market is expecting a large supply of coastal apartments and villas.

According to Savills Vietnam, Danang provides investors benefits from the complete development of infrastructure and urban planning. While the northwest coastal areas have the advantages of natural landscapes to develop eco-tourism, the urban areas are developing towards becoming a center of trade, finance and education. In addition, the eastern coastal areas are marked for tourism and hotel industries; the southern of Danang is expected to develop tourism and a large urban area.

With the modified Real Estate Business Law, Housing Law and expanding the conditions for foreigners to own houses in Vietnam, the real estate market of Danang will certainly become more attractive and with sustainable development in the future.

Cre:http://www.antconsult.vn/news/danang-resort-real-estate-growing-well.html

Vietnam Real Estate Attracts Singapore Investors

Investment flows from Singapore to Vietnam real estate sector are increasing with the presence of many huge investors.

According to the Consulate General of Republic of Singapore in Ho Chi Minh City (HCMC), Vietnam is one of the leading markets for investment of Singapore businesses. Currently, Singapore’s real estate businesses are operating successfully in Vietnam. A typical case is the 7 Vietnam – Singapore Industrial Parks (VSIP) that has attracted more than 8 billion USD of investment capital and creating jobs for more than 155,000 workers.

According to Director of Department of International Business Development of Singapore, many multinational enterprises that headquartered in Singapore are also very interested in the real estate market of Vietnam. One example is the Kusto Home Company based in Singapore, which is developing and managing the Diamond Island project in HCMC.

According to President of Kusto Home, they have studied Vietnam real estate market since 2005 and found that Vietnam is a potential and dynamic market, especially the housing segment.

There are many Singapore real estate investors that have operated in Vietnam market for a long time and have been quite successful such as Keppel Land, Mapletree, Sembcorp, CapitaLand…

In particular, Keppel Land is one of Singapore’s real estate investor that has been presented in Vietnam very early and became one of the largest investors in the real estate market of Vietnam.

In Vietnam, Keppel Land has a diversified investment portfolio in Hanoi, HCMC, Dong Nai and Vung Tau with 19 licensed projects, including the grade A office buildings, premium residential projectsnd, modern urban area complex serviced apartments.

According to CEO of Keppel Land, Vietnam with rapid growth rate is one of the key markets of Keppel Land at the present and in the future.

If Keppel Land invests in many market segments in Vietnam, CapitaLand is now regarded as the leading investors in the segment of housing development. Presented in Vietnam since the 90s of the last century, CapitaLand is developing projects in 6 major cities of Vietnam as Hanoi, HCMC, Hai Phong, Da Nang, Nha Trang and Binh Duong. So far, CapitaLand has provided for the housing market of HCMC and Hanoi of about 7,850 quality apartments, with 8 housing projects.

According to General Director of CapitaLand, Vietnam is one of CapitaLand’s key markets in Asia. According to forecasts, in the coming time, Singapore still continues to invest heavily in the Vietnam market.

According to the latest report of the Foreign Investment Department (Ministry of Planning and Investment), by the end of June 2016, investment capital in real estate sector accounted for more than 30% of the total foreign direct investment (FDI) of the ASEAN region to Vietnam, with 97 projects. In particular, Singapore accounted for nearly 80% of the number of projects and 60% of total investment capital in this field. The projects of Singapore investors belong to many segments from residential, office, retail space to the real estate for tourism, resort.

According to Chairman of the Singapore Real Estate Brokerage Association, among Singapore’s 10 large enterprises that are investing in Vietnam, there are up to 5 businesses invest in the real estate sector.

In addition to traditional investors that are actively expanding their operations in Vietnam market, many new investors are pouring capital into this country.

SynGience Financial Group from Singapore, Lucky Land Company and Minh Nguyen Long Company have signed contract to invest 400 billion VND in Depot Metro Tham Luong project with the scale of 660 apartments, next to the Tham Luong line stop of the subway no. 2 (Ben Thanh – Tham Luong).

Most recently, Ibeworth Pte. Ltd., – a subsidiary with 100% capital of Keppel Land and Nam Long Investment Joint Stock Company have signed contract to register to buy convertible bonds of Nam Long with a total value of 500 billion VND.

Cre:http://www.antconsult.vn/news/vietnam-real-estate-attracts-singapore-investors.html

Resort Real Estate Segment Flourishes with New Projects

2016 is identified as a good year for the resort real estate segment with a series of new launching projects to attract the attention of both investors and consumers. In particular, the real estate projects located in the sea area are attractive to consumers who want to own a second home to serve the needs of pleasure. From the end of 2015, there were many resort real estate projects that are introduced to the market.

According to statistics, the sales volume of apartment and villa are very good, with 70-80% of the launched units were ordered. The amount of people interested in the projects and decide to buy is increasing, thanks to the incentive sales policy, profit commitments from investors, support for preferential interest loans from the cooperative banks with the investor and can use the house for free for a certain period.

Many wealthy families share that they would like to own a coastal apartment or villa because the demand for resort tourism is increasing sharply. Moreover, foreign investors see that resort real estate segment in Vietnam is rich in potential with many famous tourist resorts and long beautiful beaches. The loosening policy allows foreigners to buy and own real estate in Vietnam is also a positive move to promote the demand of many investors jumping into this playground although there are still many difficulties in policy implementation

Currently, many domestic enterprises began to invest into the resort real estate segment, which is an inevitable trend of the market. For about 10 recent years, resort real estate has been formed and attracted the attention of investors. Some domestic investors have experienced successfully in other segments also expanded into this segment. Most of the projects are in the luxury and high-end segments such as beach villa. On the other hand, according to experts, if we can build resort real estate products at a reasonable price, the liquidity will be very good.

Vietnam has the potential for tourism therefore resort real estate is a good investment channel. Investing in an area with great potential for tourism and large amount of passenger traffic would have faster payback than the places that tourism does not develop. At the present, Vietnam has a lot of large investors as Vingroup and Sungroup… are capable to invest in large-scale resort projects. At the same time, the market is also attracting a lot of foreign investors with good financial capability and ability to invest quickly.

Currently the coastal cities like Da Nang, Nha Trang and Phu Quoc are 3 hotspots in attracting capital investments in resort real estate segment. In terms of location, these coastal cities have the potential to attract investors the most because they are also the famous tourist destination that attracting millions of tourists each year.

2016 is the year of resort real estate segment. The projects in this segment stretch from the sea to the mountain and Sapa is a typical example. Many large investors as Vingroup or Sun Group have been implementing major investment projects here.

Only in 2015, Sa Pa tourism has welcomed nearly 2 million passengers, increased by 42.2% compared with 2014. Currently, the number of tourists visiting Sapa is large and has always had a tendency to increase. While the demand for luxury resort services continues to rise, the supply is limited. Hence, this is a good opportunity to develop the resort real estate segment in this dreamy mountain city.

Resort real estate has opportunity to develop rapidly thanks to the development in transport infrastructure such as airport, highway and cable car system… allowing the movement of tourists to be convenient and easy.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

Cre:http://www.antconsult.vn/news/resort-real-estate-segment-flourishes-with-new-projects.html

TPP Will Create Breakthrough for Vietnam’s Commercial Real Estate Sector

On October 5th, the TPP agreement has finished negotiation. According to experts, the signing of TPP will expand the opportunity for Vietnam’s economy in general and real estate market in particular.

It seems that foreign real estate investors are more sensitive hearing than domestic investors in the anticipation of macroeconomic policy. The most recent example, funds from Japan and the United States are massively investing in the real estate market of Vietnam. These includes Creed Group (Japan) committed to invest 200 million USD into the An Gia Investment or the Global Emerging Market – GEM (US) has recently committed to pour 20 million USD into Hoang Quan real estate company.

Currently, there is a capital inflow from Japan landing in Vietnam. Many Japanese firms have invested in clean agriculture in Japan and some areas in the Northern of Vietnam to grow fresh vegetables and then export back to Japan. The Japanese are very closely following the TPP negotiation process so they also have investment plans in advance.

After the TPP was signed then what people expect the most is the commercial real estate market will develop better, which include industrial park, office, retail space…as a result of the shift of investment capital flows.

In order to leverage the special tax incentives and cheap labor cost in Vietnam, a lot of businesses in Japan, US had planned about moving factories from China to Vietnam and exported to Japan, US… The main industries that are shifting include textiles, phone manufacturers, automobile manufacturers…. The capital flow shifting will push up demand for commercial real estate.

When the foreign enterprises arrived in Vietnam, they will have to build factories, warehouses. On the other hand, they would create jobs, generate demand for ancillary and service industries. Thus, the system of services like hotels, trade centers, office rental and other services will develop as a result.

Thus, we can also expect M&A in the field of hotel, office, retail, including resort real estate will thrive in the future. Moreover, after the success of TPP, it will push up the industrial real estate market to develop.

Cre:http://www.antconsult.vn/investor/us-investor/tpp-will-create-breakthrough-for-vietnams-commercial-real-estate-sector.html

Japan Pouring Capital into Vietnam Real Estate Market

Vietnam real estate market has seen a growing funds poured into the real estate market through signning partnership agreement with Vietnam partners or direct foreig own investment in setting up company in Vietnam.

Since 2011, Tokyu Corp of Japan has already had cooperation agreements with Becamex IDC Corp to invest USD 1.2 billion to develop the urban area project of 71ha in Binh Duong new city. Other real estate business as Thanh Dong has also signed cooperation with many Japanese investors to mobilize capital for investment in a range of real estate projects. Accordingly, Thanh Dong is negotiating with a private equity fund in Osaka to cooperate investment in 3 major projects of this company in Hai Duong. Besides, Thanh Dong has also reached agreement with Handa Global (Yokohama) on contributing capital to build a 5 star hotel complex in Nha Trang – Dien Khanh urban area and a sea villa complex in the urban area of trade, tourism and financial services in Nha Trang city center. The total committed value between Thanh Dong and Handa Global reach 200 million USD.

Earlier, Japanese investors are willing to invest in golden lands at Le Duan – Hai Ba Trung (District 1 – HCMC) to construct a building for the Japanese investors which are growing fast in numbers in Vietnam. In addition, Sumitomo Corporation is exploring the investment projects in Thu Thiem commercial and financial center in the area of 20ha.

In the segment of industrial real estate, industrial park in Dong Nai was developed by Donafood Vietnam and three Japanese partners: Sojitz Corporation, Daiwa House Co., Ltd and Kobelco Eco-Solution. With the 88% joint-venture cooperation, the Japanese companies and local partners will invest USD 100 million in this segment. In HCM City, Vietnam – Japan industrial zone with an investment of USD 31 million has just been inaugurated phase 1.

In particular, the Mekong River Delta (MRD) is a new target of Japanese businesses, not only in the field of real estate but also logistics and seaports. Japanese investors are looking forward to be introduced by Can Tho’s authority agencies the position that they can invest in an industrial zone exclusively for Japanese businesses to invest in tourism, trade and services. It is reported that the Saporo Japan Corporation is also exploring opportunities to cooperate and invest in a golf course and ecological urban area in Can Tho and cooperative investment in some other areas of the group’s strengths in some provinces in the MRD.

Commenting about this trend, Japanese investors said that Vietnam’s economy continues to have the prospects and potential for development, and Vietnam will become an important destination to attract more business delegations and Japan’s leading investors in the coming years. The according to Mr. Toshihiko, the chairman of Creed Group said: “This is just the first step in cooperation, if the real estate market of Vietnam developed well, we will pump hundreds of millions of USD to not only An Gia Investment, but also into many other partners”. He further said, Vietnam’s economy is integrating deeper into the world economy. The Vietnam government is interested to complete the negotiations of TPP agreement, which will open huge opportunities for the economy; attracting major international investors. Besides, Vietnam has young population, mainly concentrated in urban areas however modest housing fund will be huge growth opportunity for the real estate sector. Meanwhile, the law on land of Vietnam is becoming more transparent and open to foreigners to buy houses, create purchasing power and investment opportunities for domestic and foreign enterprises.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

Cre:http://www.antconsult.vn/news/japan-pouring-capital-into-vietnam-real-estate-market.html

Vietnam’s Tourism Real Estate Sector

According to forecasts, in the next 5-10 years, Vietnam will remain as an attractive destination for foreign investors. In which the tourism real estate sector is preparing to welcome a new wave of investments with large-scale projects.

A report of Capital Partners Group Vietnam shows that in the next 5-10 years, GDP per capita of Hanoi and Ho Chi Minh City will be equivalent to those of some large cities in Southeast Asia. Therefore, beachfront apartments will become the new growth segments.

Mr. Kenneth Atkinson, CEO of Grant Thornton Consulting Group Vietnam claiming that the living standard of people in general are more advanced, the demand for tourism is growing and a lot of foreign investors are heading their attention to resort projects. The demand for hotels, luxury resorts in the long term are remains high, therefore the number of projects in the hotel and resort sectors will continue to increase with more luxury resorts to meet diverse customer demand.

Recently, many localities have also implemented plan and urged local and foreign investors to invest in tourism real estate projects.

For example, recently, Quang Ninh is calling for investors to set-up business and invest in Vietnam for the period from now till 2020, including projects: coastal resorts, tourism, casino…There are some huge projects: Casino and entertainment complex with scale up to 2,000 hectares in Van Don with a total investment of 4-5 billion USD, Phoenix resort projects (Van Don) 250 million USD; Dam Nha Mac Service Industrial Park with 3,170 hectares and 530 million USD…

In Binh Dinh province, Vingroup has built the Hai Giang tourism project, with a total of more than 650 hectares, a total investment of nearly 3,500 billion VND. In 2015, it is expected that Vingroup can supply over 830 seaside villas to the market from three locations: Phu Quoc, Nha Trang and Da Nang.

FLC Group is also preparing to launch the complex project of golf course, resort, villas and high-end entertainment named FLC Nhon Ly in Nhon Ly Commune, Quy Nhon city. The project has a total investment of 3.500 billion VND.

Most recently, M.I.K Company has introduced the Sol House luxury resort project in Phu Quoc. The project is expected to be launched in early 2016, with a total investment of over 40 million USD, including 260 hotel rooms and villas, spa, indoor and outdoor entertainment areas, two restaurants, beach bar…

Mr. Than Thanh Vu, Deputy Chairman of Tourism Real Estate Association also said that recent moves of the Government on reducing the administrative procedures will provide ventilation for the real estate business, real estate market in general and tourism real estate in particular. In the next phase, tourism real estate sector will have a rapid growth.

Furthermore, Mr. Nguyen Nam Son, Executive Director of Capital Partners Vietnam said that: “If in the future, Vietnam can minimize the troublesome administrative procedures, increase Government budget on promoting tourism of Vietnam on international channels, travel trade fairs, open representative offices in foreign countries…, that will help Vietnam tourism industry and tourism real estate sector to grow fast”.

“Because investors are lack of information about the policy, project planning therefore they do not know where to invest in, which specific projects, for how long… so the local governments should organize more meetings, dialogues for domestic and foreign investors to exchange with each other and discuss with the leaders of the provinces and thereby make the appropriate investment decisions, “said Mr. Jonathan Tizzard, Department of hotel and resort, Cushman & Wakefield Vietnam.

According to Mr. Jonathan, the coastal localities like Nha Trang, Da Nang, Hai Phong, Binh Thuan, Ninh Thuan will become the most attractive destination in the next 5 years. In particular, the island of Phu Quoc (Kien Giang) has great potential to become a “hot” destination. Phu Quoc is not soon becoming an attractive casino center and tourism in Southeast Asia if the open policy of Government that enterprises can invest in resorts include casino soon to be widely implemented.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

Cre:http://www.antconsult.vn/news/vietnams-tourism-real-estate-sector.html