The property market has shown signs of snapping back after a long period of stagnation caused by the economic slowdown. Businesses are seeking ways to mobilise long-term capital sources for their projects. Developers in dire need of long-term loans
At a seminar in Ho Chi Minh City on September 21, William Ross, a representative of the Hong Kong and Shanghai Banking Corporation (HSBC), said that the property market plays a very important role in the Vietnamese economy. Once this market picks up, it will prompt other economic sectors to develop. However, Vietnamese property developers are facing capital shortages.
Phan Huu Thang, head of the Foreign Investment Agency, said it’s time domestic real estate developers showed their strength. However, he suggested that Vietnamese businesses work with foreign partners, especially in urban planning, construction and architectural design.
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