American real estate company Keller Williams Vietnam, the Vietnamese National Association of Real Estate Professionals (VNARP), and the Global Vietnamese Business and Investment Organization (VBI Global) signed an MoU on June 17 regarding comprehensive cooperation.

Under the MoU, a series of investment connection events will be held in Ho Chi Minh City in October. This marks a strategic step in promoting investment and development in Vietnam’s real estate sector, especially in light of the new Law on Real Estate, which will be effective from August and allows overseas Vietnamese to own property in the country. The current economic climate, coupled with strong US-Vietnam relations and favorable policies, also presents a perfect opportunity for Vietnamese business owners to expand into the US market.

“By thinking big and acting boldly, they can capitalize on this unique moment to grow their operations and achieve international success,” said Ms. Lieu Nguyen, PR Committee Chair at VBI Global.

“These events are the ideal platform for Vietnamese business leaders and real estate professionals to network, learn, and seize the opportunities that lie ahead,” said Mr. Tam Quach, Co-founder of VNARP.

Under the MoU, the parties will co-organize the “Vietnam Business, Real Estate Conference & Expo 2024” from October 7 to October 12 in Ho Chi Minh City. The Expo will feature key activities such as discussions on new developments, property and factory tours, investment connection roundtables, business and real estate conferences, investment exhibitions, business networking and mixing sessions, a gala dinner and awards night, and a charity golf tournament.

It is expected to attract 200 investors from the US, especially from San Francisco, one of the largest and most important urban areas in California and home of Silicon Valley, where the headquarters of leading tech companies such as Apple, Google, Facebook, and Tesla are located. The city is also a major financial center, with many banks and investment firms, and has a large overseas Vietnamese community.

Of the approximately 6 million overseas Vietnamese globally, 2.3 million currently reside in the US. This presents an opportunity to attract remittances to Vietnam, with the US being a key market. Remittances from 1993 to 2022 equaled the volume of FDI capital disbursed during the same period. In Ho Chi Minh City alone in 2023, remittances were nearly three-times higher than FDI, highlighting it as a noteworthy and rapidly growing source of capital.

The “Vietnam Business, Real Estate Conference & Expo 2024” will feature prominent activities and act as a venue for domestic and international businesses to meet, share experiences, and build long-term cooperative relationships.

In-depth seminars will provide the latest knowledge on trends and investment updates in Vietnam’s real estate market, and facilitate trade connections between investment communities within Vietnam and elsewhere.

The signing of the MoU marks the beginning of a series of promising collaborative activities between Keller Williams Vietnam and international investment organizations interested in the Vietnamese market, contributing to the sustainable development of the country’s real estate market.

The October event is part of a series of investment promotion activities to take place during the month, organized by Keller Williams Vietnam in collaboration with VNARP, VBI Global, and domestic and international partners, gathering 2,000 domestic business owners and over 200 international investors from influential economic regions such as the US, South Korea, Europe, and the Middle East.