HÀ NỘI ( WNAM MONITORING): The Vice President of Việt Nam National Real Estate Association (VNREA) has launched his book to help foreigners steer through the local real estate market.
On November 15, Dr Lawyer Đoàn Văn Bình, who is also Founder and Chairman of the CEO Group, officially introduced the Vietnamese-English book: ‘Việt Nam Real Estate For Foreigners’, published by the National Political Publishing House.
In his latest book, he outlines useful information about the market, for buying, leasing and investing.
The book offers helpful information about Việt Nam along with analyses and updates of the latest regulations of the 2024 Law on Land, the 2023 Law on Housing, and the 2023 Law on Real Estate Business, as well as all decrees and circulars detailing these three laws.
Arranged in an easy to access way, the book summarises the procedures for buying, leasing and investing real estate in Việt Nam for foreigners through four main products on the market: housing, industrial parks, office for leasing and tourism real estate.
The book is published in both Vietnamese and English, so it is also useful for individuals, organisations and enterprises who want to study, invest and find foreign partners in the real estate sector of Việt Nam.
Sharing the reasons for writing this book, Đoàn Văn Bình said: “Making a book is a lot of work, but we always think that our country is very beautiful and has so much potential for development in the new era.
“We need to exploit all potential advantages and achievements to develop the country. If one more foreign individual or organisation knows, learns about, and invests in a real estate product or a real estate project, Việt Nam will have one more friend, one more ‘ambassador’. There will be more cash flow, jobs, production chain activation and on-site exports.
“From now on, the real estate industry needs to contribute more practically and efficiently in the new era of Việt Nam.
“In addition, as I am in charge of international relations and FDI of VNREA, so I always want to do something timely and effectively so that international friends and partners know the most about our association and about Việt Nam real estate.
“Therefore, although making a book is hard and costly, there is always motivation for me to try. The book content covers real estate things, but above all, we want to send a welcome message to international friends and partners of VNREA and CEO GROUP: Please come to our beautiful country to explore, travel, relax, study, work, invest! Welcome to our beautiful Việt Nam!”.
He explained: “In terms of foreign affairs, Việt Nam has established diplomatic relations with 194 countries, signed Strategic Partnership and Comprehensive Strategic Partnership agreements with 32 countries, including five countries that are permanent members of the United Nations Security Council and seven most developed industrial countries (G7).
“In terms of an open economy, to date, Việt Nam has trade ties with over 220 countries and territories, with trade turnover in 2023 reaching US$683 billion (surplus of $28 billion) and in the first ten months of 2024 reaching $647.87 billion, in which, exports reached $335.59 billion, imports reached $312.28 billion (surplus $23.31 billion) and trade turnover could reach a record of nearly $800 billion this year (approaching a figure nearly double GDP).
“With 17 free trade agreements (FTAs), total foreign direct investment (FDI) reached nearly $450 billion, with more than 41,000 projects from more than 143 countries and territories, Việt Nam has become an important link in the supply chains of the Asia-Pacific region and the world.
“Additionally, Việt Nam currently has more than six million overseas Vietnamese in 130 countries. Many of them maintain strong ties with their homeland and aspire to contribute to the nation’s growth”.
According to the National Political Publishing House, in the context of globalisation and international integration, the demand for owning assets abroad is increasing, and Việt Nam has become an attractive destination for international investors. The factors include stable political institutions, impressive economic growth rates, modern infrastructure and a young and dynamic population, along with open policies on investment and real estate business.
However, to be successful in the field of real estate investment in a new market, foreign investors need to have specialised knowledge, understand legal regulations, and seize potential investment opportunities in Việt Nam.
“The book is a useful document for foreigners who need to invest and trade in real estate in Việt Nam, Vietnamese enterprises that want to cooperate with foreign partners, foreign enterprises, and readers interested in this field,” the publisher said.
Dr. Nguyễn Văn Khôi, President of VNREA said that the book is also a useful handbook for the association, organisations, individuals, members and domestic enterprises to refer to, guide, promote and cooperate with foreigners who want to invest in the Vietnamese real estate market.
In the context of new laws that have just been amended, creating momentum for the development of the Vietnamese real estate market, it is very necessary to systematise the processes and procedures for investing in Vietnamese real estate, helping foreigners to access the Việt Nam market more easily.
“This book combines legal expertise, business practices and the foreign vision of the Vice President in charge of foreign affairs of the Việt Nam Real Estate Association, aiming to bring the Vietnamese real estate sector closer to international friends. The book is a meaningful contribution not only to the real estate sector, but also in terms of promoting the image of Việt Nam internationally,” said Dr Nguyễn Văn Khôi.
Former President of the Institute of Estate Agents(IEA), Singapore, and founding member of ASEAN Real Estate Network Alliance (ARENA) Jeff Foo said: “I am so privileged to be given a copy of your book. Personally, I found the contents very easy to understand and useful information for sharing with my students about the VN RE Market. Looking forward to your future publication of more information on the VN RE procedures and practices.”
Over the past two years, Dr Lawyer Đoàn Văn Bình has donated copies of his books to all 63 provinces and cities in Việt Nam, the National Library, and 44 universities across the country, as well as to international libraries, partners and friends.
