Illustrative image (Source: VNA)Hanoi (VNA) – A large number of companies fromEurope, the Republic of Korea, Japan, and China are choosing to invest inbuilding manufacturing facilities in Vietnam, promising a boost to thedevelopment of the industrial property segment.
The Government’s Decree No.82/2018/ND-CP on the managementof industrial zones and economic zones, which took effect on July 10, 2018, regulatesthe planning and development of industry-urban-service areas. It has opened upopportunities for real estate investors, particularly in the context of shrinkingland sources.
Experts said the model contributes to tackling housingproblems for workers and ensuring suitable living environments within industrialparks.
As planned, the area of land put aside for industrialdevelopment in Vietnam will be doubled by 2020.
In its recent regular meeting, the Government ordered thatthe processing and manufacturing sector boost its growth and closely monitorthe operations of businesses and major projects for the prompt handling of potentialissues.
Relevant ministries, sectors, and localities were assignedto facilitate businesses and investors, with firms hoping that the incentiveswill create favorable conditions for investors to develop industrialinfrastructure projects.
Dang Hung Vo, former Minister of Natural Resources andEnvironment, said that Vietnam’s industrial realty sector should capitalise on theadvantages available in order to propel forward. –VNA
VNA
