Land Law boosts Vietnam’s investment appeal: Japanese expert
Koizumi Kenichi, a Japanese real estate investment expert, has praised the amended Land Law that was passed by the Vietnamese National Assembly earlier this year, believing that one specific amendment will be very welcome to foreign companies.
Japanese real estate investment expert Koizumi Kenichi (Photo: VNA)
Tokyo (VNA) – Koizumi Kenichi, a Japanesereal estate investment expert, has praised the amended Land Law that waspassed by the Vietnamese National Assembly earlier this year, believing that onespecific amendment will be very welcome to foreign companies.
Talkingwith Vietnam News Agency correspondents in Tokyo, Koizumi highlighted the ambition of numerous companiesfrom Japan, the Republic of Korea, and Taiwan (China) seeking to expand operations in Vietnam. Theyare mostly small and medium-sized enterprises (SMEs) operating in the appareland footwear industries that often face difficulties in securing long-termleases for land and factories due to high rental costs.
Hesaid the changes to land ownership rights in Vietnam's Land Law will incentivisemore companies to explore purchasing land and building their own facilitiesinstead of incurring rental expenses.
Accordingto him, they will change the way foreign investors view land use rights inVietnam. If global developers and investors in the US, Europe and SoutheastAsia incorporate Vietnamese real estate into their propertyportfolios, it could lead to a revival in property sales across the country.Additionally, allowing individual andhigh-net-worth investors to purchase land could spark interest inacquiring property in Vietnamese resort areas, such as those on Phu Quoc island.
As a long-time investor instocks and other assets in Vietnam, he said the amended law will significantlyimprove Vietnam's investment environment and expand the foothold of foreigninvestors.
The Japanese investors maycons⛄ider purchasing land direc🌜tly as corporate entities in the future to ensuretheir long-term operations, he said./.
The amended Land Law which was passed at the 15th National Assembly’s fifth extraordinary session in mid-January is expected to provide a firm legal framework to enhance land management efficiency and create new momentum for Vietnam to become a high-income country by 2045.
The revised Land Law, recently adopted by the 15th-tenure National Assembly, which includes people of Vietnamese origin among land users and increases interests for foreign-invested economic entities, is expected to have positive impacts on the real estate market and the economy at large.
The revised Land Law, which was passed at the 15th National Assembly’s fifth extraordinary session, holds great significance in the country’s political, socioeconomic life and national defence and security as well as has impacts on people from all walks of life and the business community.
The revised Land Law, recently passed by the National Assembly, is expected to attract capital from overseas Vietnamese (OV) across the world, said Chief of the Office of the Vietnam-Japan Business Association (VJBA) Dang Thai Minh.
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Japanese real estate investment expert Koizumi Kenichi (Photo: VNA) 
