The conference takes place from September 16 – 19, 2023 at Raffles Hotel, Jakarta, Indonesia.

Within the framework of the Conference, Dr. Lawyer Doan Van Binh had meetings, contacts, and direct dialogues with leaders of international real estate associations, discussing the potential and investment opportunities in Vietnam’s real estate market and research, training and fostering activities related to the real estate market…

The World Investment Forum 2023 – 2024 was held on September 19, 2023, chaired by the President of FIABCI, included 2 parts.  

Part 1: “Green and Smart City – Indonesia’s New Capital”; Green finance; Green multi-functional development project.

Part 2: Guidelines on real estate ownership for foreigners in Southeast Asia. Representatives of ASEAN countries gave presentations on how foreigners own real estate in their countries.

At the event, the leaders of the Real Estate Associations of Malaysia, Indonesia, and Thailand  gave presentations. On behafl of the Vietnam Real Estate Association, Dr. Lawyer Doan Van Binh, Vice President of VNREA, gave a speech on the above topic and briefly introduced 10 reasons and opportunities for foreigners to invest in real estate in Vietnam.

In the opinion of Dr. Lawyer Doan Van Binh, the first, Vietnam is a country with a stable political system, bringing security and safety to foreign investment;

The second, Vietnam has a vision and strategy to develop the country until 2045 (When Vietnam will celebrate 100 years of Independence) to become a developed country with high-income;

The third, Vietnam’s economic institutions are synchronous, modern and continued to be improved.

The fourth, Vietnam has the advantage of a open economy with 17 Free Trade Agreements (FTAs) signed and 4 other FTAs under negotiation. Over the past 20 years, Vietnam has upgraded its comprehensive strategic partnership with five countries with developed economies such as: China (2008), Russia (2012), India (2016), South Korea (2022) and United States (2023). This creates a great opportunity for Vietnam to integrate and expand into the global market;

The fifth, GDP grows steadily every year by 6 – 7%;

The sixth, Vietnam has more than 100 million people with a young population structure, creating an abundant human resource with competitive salaries. Each year, over 1 million new children are born, leading to an ever-increasing need for housing and essential services;

The seventh, the middle class is growing rapidly;

The eighth, the urbanization rate is 1% per year, up to now it has reached 43%. It is expected that the urbanization rate in Vietnam will reach 45% by 2025 and 50% by 2030.

The ninth, the public investment disbursement is focused on, especially investment of infrastructure construction, including North-South Expressway, belt roads of Hanoi and Ho Chi Minh City, Long Thanh international airport…;

The tenth, the index of total global real estate value compared to global GDP by 2020 is 4 times (326.5 trillion USD/85 trillion USD), while it is less than 1 time in Vietnam. This proves that the development potential of the real estate market in Vietnam is very huge.  

In addition, Vietnam has begun issuing online Visas to citizens of all countries. This creates conditions for foreigners to travel easily and conveniently, opening up the flow of investment and high-quality human resources to Vietnam.

Therefore, in the opinion of Vice Presiden of VNREA, at this time the market is facing temporary difficulties but it is also a good opportunity for foreigners to invest in housing products, tourism real estate, offices and industrial parks in large cities and provinces with stable economic growth in Vietnam, such as: Hanoi, Quang Ninh, Hai Phong, Da Nang, Khanh Hoa, Ho Chi Minh City and Kien Giang.

Also at the conference, Dr. Lawyer Doan Van Binh proposed that ASEAN should optimally exploit the ASEAN Economic Community by allowing foreigners, who travel to one country, are enable to visit other member countries.