Topics covered in the Forum included: Reviewing and evaluating objectively and scientifically Vietnam real estate market; Forecasting, identifying advantages, disadvantages and factors affecting the market in the future, etc., based on which to propose the Government and regulators to take timely supportive measures, improve policies and, at the same time, encourage appropriate solutions from real estate developers and traders.
In addition to practical experiences on Vietnam real estate market development, international practices which can be potentially applied in Vietnam were also discussed at the Forum in order to offer solutions, initiatives and recommendations for transparent and sustainable development of Vietnam real estate market.
At the Forum, Vietnam National Real Estate Association’s Vice Chairman Doan Van Binh proposed to amend and supplement some policies aiming at creating legal corridor to facilitate Vietnam real estate market development. According to Mr. Doan Van Binh, the legal system of Vietnam in general and the laws on real estate in particular has been improved recently. However, enterprises in many localities still have experienced difficulties on various types of real estate such as residential housing, social housing, resort real estate, etc. Mr. Binh also made some suggestions and recommendations to amend and improve the law on a number of prominent issues, including:

– Policies, laws and procedures on land and real estate business.
– Policies, laws on finance.
– Policies, laws on resort tourism.
– Policies and laws on special administrative-economic units, which has attracted great public attention on recent days, especially the following issues:
Visa exempt for international visitors

Mr. Binh stated that besides the self-help efforts of domestic travel agencies, appropriate mechanisms and policies should be created to facilitate foreign visitors to Vietnam. One of the breakthrough solutions is the early implementation of visa exemption for foreign tourists to Vietnam. This will help save time and cost of visa application thereby enhancing the attractiveness of Vietnam tourism. In fact, most of countries with over 20 million international visitors per year are visa waiver countries.
Secondly, considerable investment should be put into tourism
To meet the targets of 20 million international visitors and hundreds of millions of dosmestic tourists by 2020, 10 percent contribution to GDP, USD30 billion revenue and millions of jobs created, the Government should have a realistic investment plan in this area through the following specific tasks: Improving policies, laws and mechanisms to develop tourism human resources; promoting investment in communication; improving technical infrastructure of the project area, etc.
Thirdly, legal framework on booming resort real estate products such as condotel should be improved

Regarding policies and laws on special administrative-economic units, based on the study of draft laws, real estate enterprises have some suggestions as follows:
Firstly, the Law on special administrative-economic units should be adopted soon because we are way behind other countries in the region and in the world in this field. It is not to mention that many countries with successful special units also often have to amend and supplement the law to respond to the socio-economic development in each period.

Reporters interviewed Doan Van Binh during the morning break

Secondly, in order to compete with special units in the region and the world, Vietnam needs to have a dominant mechanism which embraces “open” and “free” criteria. “Openness” is measured by how favourable the policies are. For example, are foreigners allowed to buy not only residential houses but also resort real estate products? Does “freedom” mean strong foreign currencies are allowed in special units, or are free tax and free visa policies applied?
Thirdly, special unit’s superintendent should be used instead of current organizational structure to create a breakthrough development. A future urban government in which the decisive and responsible role is given to one person should be piloted.
Mr. Doan Van Binh's speech had received enthusiastic support from domestic and foreign participants and media agencies. The speech’s practicality and strategic and appropriate recommendations were highly recognized.
The Forum closed with many drafts issued and clearer picture of real estate market. Hopefully, there will be many useful forums like this in the near future.