ASEAN Investors Pour $16.6B in Vietnam Real Estate

Minh Tam

10:17 14/10/2015

BizLIVE - Investors from Southeast Asian countries had poured a combined $16.6 billion into 97 real estate projects in Vietnam as of the end of June.

ASEAN Investors Pour $16.6B in Vietnam Real Estate

A view of downtown Ho Chi Minh City, formerly Saigon. (Photo: Internet)

Investors from eight out of 10 ASEAN nations had invested in 2,639 projects with a total of $54.6 billion in Vietnam by the end of June, accounting for 21.7% of registered foreign investment in the country, data of the Ministry of Planning and Investment’s Foreign Investment Agency (FIA) showed.
The manufacturing and processing sector has driven the most attention from ASEAN investors, with 1,009 projects worth $22.2 billion.
The property industry comes second with 97 projects totaling $16.6 billion, or $167 million per project on average. Singaporeans investors have topped ASEAN peers in this sector, with 77 projects worth $10 billion, followed by Malaysian and Bruneian investors.
The ASEAN Economic Community (AEC), which will come into existence in December, is the key catalyst that makes the region attractive to FDI flows, the FIA said. Furthermore, Vietnam possesses competitive edges over regional peers such as Thailand, Indonesia and Myanmar in attracting FDI.

MINH TAM / Theo Báo Đầu tư