Japanese real estate investment expert Koizumi Kenichi (Photo: VNA) Tokyo (VNA) – Koizumi Kenichi, a Japanesereal estate investment expert, has praised the amended Land Law that waspassed by the Vietnamese National Assembly earlier this year, believing that onespecific amendment will be very welcome to foreign companies.
Talkingwith Vietnam News Agency correspondents in Tokyo, Koizumi highlighted the ambition of numerous companiesfrom Japan, the Republic of Korea, and Taiwan (China) seeking to expand operations in Vietnam. Theyare mostly small and medium-sized enterprises (SMEs) operating in the appareland footwear industries that often face difficulties in securing long-termleases for land and factories due to high rental costs.
Hesaid the changes to land ownership rights in Vietnam's Land Law will incentivisemore companies to explore purchasing land and building their own facilitiesinstead of incurring rental expenses.
Accordingto him, they will change the way foreign investors view land use rights inVietnam. If global developers and investors in the US, Europe and SoutheastAsia incorporate Vietnamese real estate into their propertyportfolios, it could lead to a revival in property sales across the country.Additionally, allowing individual andhigh-net-worth investors to purchase land could spark interest inacquiring property in Vietnamese resort areas, such as those on Phu Quoc island.
As a long-time investor instocks and other assets in Vietnam, he said the amended law will significantlyimprove Vietnam's investment environment and expand the foothold of foreigninvestors.
The Japanese investors mayconsider purchasing land directly as corporate entities in the future to ensuretheir long-term operations, he said./.
