Illustrative image (Photo: VNA)HCM City (VNA) – Foreign direct investment (FDI)in the property market has been on the rise, with nearly 300 million USD inJanuary, accounting for nearly 21 percent of total FDI in Vietnam.
Last year, the sector attracted about 1.3 billion USD, makingup 10 percent of total FDI poured into the country. The Vietnam National RealEstate Association has predicted that the market will become busier.
Ho Chi Minh City lured the highest number of FDI projects inthe real estate, with investment accounting for 40.9 percent of the country’s total.
Notably, a joint venture between Japan’s Maeda Group andThien Duc company of Vietnam invested 30 million USD in Waterina Suites high-endapartment project in District 2.
Meanwhile, the Japanese Mitsubishi Group signed a contractwith Bitexco to set up a housing development joint venture with an initialcapital of about 290 million USD. Another giant from Japan, Kajima Group, hasalso teamed up with Indochina Capital to form a 1 billion USD joint venture in10 years with four projects in Hanoi, Da Nang and Ho Chi Minh City.
At the same time, the number of newly-established realestate enterprises has also increased in both quality and quantity.
According to the Business Registration Management Agency, bythe end of 2016, 110,000 new enterprises were set up, a rise of 16.2 percentover the previous year, a record figure so far.
Total capital committed to the market reached 891.09trillion VND, or 8.09 billion VND per new firm, up 48.1 percent year on year.Meanwhile, 26,689 businesses resumed operation, up 43.1 percent.-VNA
VNA
