Reform legal procedures: "Thrust" real estate market

09/03/2017   Viewed: 876
Foreign direct investment (FDI) statistics show that in the first two months of this year, foreign investors have invested in 19 out of 21 economic sectors, of which real estate (real estate) Occupying the second place with total investment of $ 52.4 billion. However, according to experts, efforts to reform the legal procedures in the field of new real estate is "push" to help the market become more transparent, attractive to investors.
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Reform of legal procedures, increased transparency will help the real estate market more attractive to investors. Illustration
Positive signals
According to the General Statistics Office, real estate business is in the group of sectors with the number of newly established enterprises and registered capital increased over the same period last year. In particular, the number of real estate companies increased 43.4%, registered capital increased by 63.8%. Over the past two months, 146 real estate firms have been operating again, up 32% over the same period in 2016.
Representatives from the Foreign Investment Agency said that the real estate sector ranked second in total FDI poured into our country in the past two months with total capital of $ 52.4 billion, accounting for 17.6% of total capital. invest. As of February 20, the total value of real estate inventories remained at VND29.573 trillion, down 21.316 trillion dong (41.89%) compared to February 20, according to statistics from the Housing Management and Real Estate Market Department. With December 12-2016.
In Hanoi, the total inventory in the area is about 5.538 billion, compared with December 20-2016, down 52 billion and compared with January decreased 27 billion. In Ho Chi Minh City, inventories also decreased by VND283 billion compared with December 2017 and VND105 billion compared to January. These figures show that the real estate market not only attracts domestic investors but also becomes an attractive destination for foreign investors.
Commenting on the flow of FDI flows into the real estate sector, experts in the field said that one of the important issues today is to find ways to make the registered investment capital into reality. In it, it is necessary to quickly remove the "knot" of policy and planning. Because of this, FDI plays a very important role in boosting the Vietnamese economy in general and the real estate market in particular.
Professor Dang Hung Vo, former Vice Minister of Natural Resources and Environment, said that foreign capital flowing into real estate not only strengthens the economy, but also creates healthy competition in the market. In fact, real estate companies in Vietnam is not as strong as foreign companies.
Therefore, the thought of hindering the increase of FDI inflows into the real estate market has taken place. However, the task of policy makers is to create legal advantages for FDI to flow into Vietnam. Thus, the real estate companies in Vietnam can grow up and have enough strength to compete with businesses from abroad.
Reform to increase "gravity"

In fact, the real estate market of Vietnam always contains many factors that attract foreign investors, such as large population, fast urbanization rate, high demand for housing, variety of goods. To meet the needs of high market.
In particular, the market with nearly 100 million people in working age and increasing average income is a "land" fertile for real estate companies to invest capital. However, according to Prof. Dang Hung Vo, it is not easy to turn the registered capital into real estate.
At the announcement of the results of the selection of the good and bad law 2016 by the Vietnam Chamber of Commerce and Industry (VCCI) recently announced that the real estate sector has up to 8/30 regulation The law is voted the best.
The result of the vote is recognition by the business community of the efforts made by state agencies in making the business investment environment, in which the real estate sector becomes more favorable. However, in practice, administrative procedures remain a barrier for foreign investors to be hesitant to pour capital into the real estate market in Vietnam.
Therefore, the positive reform of legal procedures in the field of real estate is the key "push" to help the market become more transparent and attractive. According to Prof. Dang Hung Vo, the number of FDI poured into the property two months has shown the attractiveness of the market. This is also a positive sign of the potential of the real estate market in Vietnam. However, if one third of the total registered capital can be implemented, real estate market expectations will be met.
Dr. Nguyen Dinh Cung, director of the Central Institute for Economic Management (CIEM), said that the Government and Prime Minister Nguyen Xuan Phuc showed the spirit and determination to reform, most importantly the Government building. Integrity, tectonics, action, service.
The publication of good and bad legal procedures including real estate procedures is a measure of the level of reform of legal procedures in general and the real estate sector in particular. It is hoped that ministries and sectors will urgently review and revise the regulations voted the worst and get the satisfaction of the people and enterprises as the target.
Huong Ly (new Hanoi)

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