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Real estate ranks third in FDI attraction

The real estate sector currently ranks third in attracting foreign direct investment (FDI) in Vietnam , according to the Ministry of Planning and Investment’s Foreign Investment Agency.

By the end of the third quarter this year, foreign investors had disbursed a total of 8 billion USD to real estate projects in Vietnam, the Foreign Investment Agency reported at an international seminar on experiences in developing housing and real estate worldwide, along with options for Vietnam.

The real estate sector currently ranks third in attracting foreigndirect investment (FDI) in Vietnam , according to the Ministry ofPlanning and Investment’s Foreign Investment Agency.

By the end of the third quarter this year, foreign investors haddisbursed a total of 8 billion USD to real estate projects in Vietnam,the Foreign Investment Agency reported at an international seminar onexperiences in developing housing and real estate worldwide, along withoptions for Vietnam.

The seminar, held in Hanoi on Nov. 26,brought together 1,500 real estate developers and foreign investmentfunds from 15 countries and territories.

Construction MinisterNguyen Hong Quan said the real estate market is important as it makesdirect impacts on the national economy’s growth and has close ties withfinancial, construction, building materials, and labour markets.

Accordingto Deputy Minister of Construction Nguyen Tran Nam , by the end of2009, foreign developers had invested in 500 real estate projects with acombined registered capital of over 40 billion USD.

In 2009 alone, FDI in real estate reached 2.5 billion USD, accounting for 21.8 percent of new FDI in Vietnam .

Thesame day, Vietnam ’s real estate market potentials were introducedto participants in an international real estate exhibition, which washeld as part of the seminar./.

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