Specifically, Chairman of CEO Group proposed 13 solutions to recover and develop the market.

The first, in terms of institutions, we need to optimally exploit international playing fields. With the trend of signing more FDI cooperation agreements, it is very necessary. In order to better attract tourists to Vietnam in particular and ASEAN countries in general, it is posible to allow tourists, who travel to one country, to be enable to easily travel to other countries in the same region.

The second, it is proposed to allow foreigners to own land in Vietnam.

The third, according to our observations, almost countries in the world have mechanisms to develop special economic zones. Even, there are some attractive special economic zones where foreign businesses come to invest and develop. Therefore, if possible, we should also consider a few coastal economic zones to develop into special economic zones.

The fourth, according to observations of infrastructure in the world, airports are not only places to travel but also places to shop, play, and entertain. And most importantly, they become destinations in the region. Therefore, if the upcoming Long Thanh airport may meet these needs, it will be very good to attract more tourists and improve Vietnam’s economic development.

In addition, the development of high-speed trains with only 200km/h, in my opinion, is a bit outdated, because many countries in the world, including China closest to us, have considered to have high-speed trains with speeds of 1,000km/h.

Next, population and human resources. In many countries around the world, there are many jobs while human resources are lacking or people do not like to work. Therefore, we need to maintain a birth rate of above 2 children to ensure human resources.

The fifth, relating social housing, we went to Brunei, Singapore, and New Zealand to research and study. We have heard a lot about Singapore’s HDB housing model.

New Zealand’s housing model is also very good.  Social housing in New Zealand is provided by two parties. The first party is the state that builds social housing for rent and also creates conditions for private developers to participate. In the market, the state provides about 65% of social housing, the remaining 35% is from 61 private developers. Social housing of private developers is offered with rental price equal to 80% of the market price. The state compensates 20% of the rental price for private developers.

Thus, the state still operates the market, creating a competitive environment, which is operated according to market mechanisms, importantly creating an equal playing field for social housing. Social housing’ location can be anywhere. Its segments are also very diverse from mid-range to high-end

The social housing models show the common point that the governments participate more directly and operate market mechanisms, regardless of social housing or low-cost housing, with diverse locations.

The sixth, we can learn from Singapore’s digital transformation model, which is a very smart state city model, digitizing in traffic operation and administrative procedures.

The seventh, real estate data is also very important, e.g. in the US model, housing data from hundreds of years ago is still very well used.

The eighth, trend for the second home in Malaysia, Indonesia, and Cambodia now is very good. We hope that competent state agencies will consider it to attract more investment resources.

The ninth, it is land use rights trading floor. We have discussed with more than 10 international real estate associations.  There are only a few countries which have land banks to regulate land for farmers for agricultural and forestry production, not regulate the real estate market. We propose to combine the real estate trading floors and land use rights trading floors. If possible, administrative procedures and costs will be reduced while still controlling the market.

The tenth, is is proposed to build a financial center in the region and the world.

The eleventh, in the near future, VNREA will have recommendations relating to real estate investment trust (REITS) funds to provide sustainable capital sources for the market.

The twelveth, relating to tourism, we have issued online visas to all countries in the world since August 15. However, many foreigners also reported that the website name is not friendly and difficult to search for foreigners. We have also proposed for changes.

The thirteenth, it is the planning for accommodation facilities. China’s Hainan Island has a good model that our tourism industry does not yet have. For example, the supply in Phu Quoc and Van Don is abundant while the Mekong Delta is lacking.

Finally, there are recommendations on the issue of foreigners buying real estate in Vietnam.