FDI BOON FOR CITY PROPERTY

The city has granted licences for 327 projects with total registered capital of more than $2.31 billion.

The city continued to overwhelmingly top the country in terms of FDI in property, accounting for nearly 78.5 per cent of the total investment of $1.82 billion in 18 new projects and seven existing ones that are expanding.

They include a $1.2 billion joint venture in HCM City between several local firms and Denver Power Ltd of the UK.

Experts forecast a torrent of FDI in the property sector by year-end thanks to the changes to the Law on Housing and Real Estate Business that allow foreigners and Viet kieu (overseas Vietnamese) to buy houses in Viet Nam.

Source: VIR

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