An Gia riverside project (Photo: angiariverside.edu.vn)Hanoi (VNA) – Japanese enterprises have shown increasing interest invarious sectors in Vietnam, especially real estate which is enjoying trendingupward, Masakazu Yamaguchi, Managing Director of the Creed Group (CREED) wasquoted by Dau tu (Investment) newspaper as saying.
Vietnam is a promising market with a large and dynamic population as well as astable macro-economy, he said, stressing that the country is a priority marketof CREED, which specialises in principal investment and property development.
The company also invests in Malaysia, however, Vietnam’s economy is outperformingits Southeast Asian peer due to Malaysia’s unstable economic growth.
According to Masakazu Yamaguchi, CREED worked with An Gia Real EstateDevelopment and Investment JSC to buy two blocks of the Lacasa project todevelop the Angia Riverside and Angia Skyline in District 7, Ho Chi Minh City,which is expected to be completed by the end of this year. To date, 90 percentof the 800 apartments have been sold.
The group also cooperated with Phat Dat Real Estate Development JSC to resumethe River City project with 4,000 apartments in Ho Chi Minh City.
He said that based on the development of the market, the group wants to injectmore capital into real estate in Vietnam.
However, he also pointed out some barriers hindering foreign investors inVietnam, namely unclear administrative procedures.
Although foreign funds have abundant financial resources and managementexperience, they are left behind domestic enterprises in terms of understandingthe business environment and legal policies, he said.
Cooperation between domestic and foreign enterprises will enhance thecompetitive capacity of both, he said.
He also voiced concerns about the transparency of cash flow in or out ofVietnam relating to foreign investment.-VNA
VNA
