A large number of companies from Europe, the Republic of Korea, Japan, and China are choosing to invest in building manufacturing facilities in Vietnam, promising a boost to the development of the industrial property segment.
The Government’s Decree No.82/2018/ND-CP on the management of industrial zones and economic zones, which took effect on July 10, 2018, regulates the planning and development of industry-urban-service areas. It has opened up opportunities for real estate investors, particularly in the context of shrinking land sources.
Experts said the model contributes to tackling housing problems for workers and ensuring suitable living environments within industrial parks.
As planned, the area of land put aside for industrial development in Vietnam will be doubled by 2020.
In its recent regular meeting, the Government ordered that the processing and manufacturing sector boost its growth and closely monitor the operations of businesses and major projects for the prompt handling of potential issues.
Relevant ministries, sectors, and localities were assigned to facilitate businesses and investors, with firms hoping that the incentives will create favorable conditions for investors to develop industrial infrastructure projects.
Dang Hung Vo, former Minister of Natural Resources and Environment, said that Vietnam’s industrial realty sector should capitalise on the advantages available in order to propel forward. –VNA