Property gains from factories leaving China
Vietnam’s industrial real estate is undergoing a turnaround to cash in on the rising wave of foreign capital influx and factories moving out of China.
Vietnam’s industrial real estate is undergoing a turnaround to cash in on the rising wave of foreign capital influx and factories moving out of China.
Vietnam’s surge towards becoming Asia’s fastest-growing economy is helping the country attract even more capital from overseas sources.
The wave of high-tech companies investing billions of US dollars in Vietnam is already materialising, raising the question for the country on exactly how to absorb all the incoming capital.
Driven by the lowest rate of car ownership among Southeast Asian peers, the advantages from numerous current and potential free trade agreements, the ongoing US – China trade war and the Government’s success in containing the COVID-19, Vietnam’s automobile industry is expected to expand rapidly.
After being issued the IRC, ERC and company seal, investors still cannot start their production without an approved environmental protection plan (EPP) or evironmental impact assessment report (EIAR). The procedure of EPP/EIAR application must be conducted right after the issuing of the IRC and ERC and before factory fitting out and machine installation.
Economic growth, political stability and geographic and labor advantages will certainly help Vietnam to be an essential partner and market in Southeast Asia within the next decade.