Property

A number of problems relating to land management have presented difficulties for many businesses, especially State-owned enterprises (SOEs). To remove these difficulties, the Ho Chi Minh City Investment and Trade Promotion Center (ITPC), in cooperation with the city’s Department of Natural Resources and Environment, held a dialogue on August 9 between businesses, industry, and the government.

Resort real estate on Phu Quoc Island is quite diverse, and includes the first casino for Vietnamese citizens, the largest safari park in Southeast Asia, and the world’s longest sea-crossing cable car. The market is still to develop sustainably, however. The island city should not only be a tourist destination but should also have a marine economic center and become a new financial center in the region.

At a national conference on August 11 between the Prime Minister and businesses with the theme “Proactive adaptation, quick recovery and sustainable development”, Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HoREA), proposed six solutions to restore Vietnam’s real estate market.

Many analysts have predicted that resort real estate will become increasingly attractive over the years to come thanks to the strong recovery of tourism post-pandemic. Projects near the coast, with easy connections to centrally-run cities and invested in and developed by capable real estate corporations will attract the most customers.

The Ministry of Construction has held a conference to appraise the general planning for the city of Ha Tien in the Mekong Delta’s Kien Giang province and the Ha Tien border-gate economic zone to 2040. The city is to become a growth pole in the western reaches of Kien Giang province, a key urban area in the Delta, and an international border gate city with coastal tourism.

A host of inadequacies in tax management over business activities and real estate transfers were spoken of by analysts at the “Trends in the real estate market in the last 6 months of 2022” conference on August 5. Analysts proposed the study of new taxes to regulate the real estate market, such as supplementing rent differences and collecting taxes on houses.