Vietnamese in Laos has high hopes on real estate market prospects at home

02/04/2024 13:05
Email Print 4433
KPL (KPL/VNA) Many Vietnamese in Laos have shared the belief that the amended Land Law, passed by the National Assembly earlier this year, will significantly contribute to national socio-economic development.

(KPL/VNA) Many Vietnamese in Laos have shared the belief that the amended Land Law, passed by the National Assembly earlier this year, will significantly contribute to national socio-economic development.

They referred to the law’s stipulations allowing overseas Vietnamese (OVs) to own properties in Vietnam without any limit on quantity, just like their fellow citizens inside the country.

It will encourage OVs to do real estate business at home and attract a massive influx of investments from abroad, they said.

MocSavanhHongkham, Chairman of Phu Gia Steel Industry Co., Ltd., who has lived and worked in Laos for more than 20 years, expressed his joy at the new regulation as he always wishes to own real estate in the homeland. 

The legal change has satisfied the aspirations of Vietnamese not only in Laos but also in other foreign countries, he said, adding that Vietnamese expats now can obtain real estate ownership and directly engage in the trading.

Chairman of the General Association of Vietnamese People in Laos Pham Van Hung stressed that the expansion of land use rights for OVs demonstrates the Party’s and the State’s attention to them.

The new regulation is necessary as more and more OVs return to Vietnam to do business or settle down. It helps OVs feel secure about the investment, and ease risks in the trading, and at the same time contributes to spurring the domestic real estate market, and luring more investments to Vietnam, he said.

KPL

ຂ່າວອື່ນໆ

    • ADB, USAID Partner to Support SMEs in LaosEconomics

      ADB, USAID Partner to Support SMEs in Laos

      5/22/2024 8:17:05 PM

      (KPL)The Asian Development Bank (ADB) and the United States Agency for International Development (USAID) jointly announced the launch of ADB Frontier’s inaugural Seed Fund. The fund will provide catalytic funding and technical support to growing, technology-enabled small and medium enterprises (SMEs) in the Lao PDR and Cambodia, with a strong focus on economic inclusivity and climate action.

    • BOL brainstorms solutions to high inflationEconomics

      BOL brainstorms solutions to high inflation

      5/22/2024 3:21:26 PM

      (KPL) The Bank of the Lao PDR (BOL) held in Vientiane today a brainstorm meeting on how to address high inflation.

    • DP World acquires Savan Logistics – operator of dry port in SavannakhetEconomics

      DP World acquires Savan Logistics – operator of dry port in Savannakhet

      5/6/2024 1:01:32 PM

      (KPL) DP World has completed the acquisition of Savan Logistics which operates the Savannakhet dry port in the Savannakhet Special Economic Zone (SEZ) in Laos, the first SEZ in the country. Savan Logistics has been operating the dry port since 2016.

    • Lao Economic Growth Remains Subdued Says World Bank Report   Economics

      Lao Economic Growth Remains Subdued Says World Bank Report

      5/2/2024 12:58:46 PM

      (KPL) Economic growth in the Lao PDR is estimated to have been below 2019 levels in 2023 and is forecast to remain below that pace in 2024, weighed down by economic instability, low worker skills, out-migration of labour, and a challenging business environment, the World Bank said in a report released on Tuesday.

    • Laos’ trade value exceeds 1.1 bln USD in FebruaryEconomics

      Laos’ trade value exceeds 1.1 bln USD in February

      4/30/2024 12:29:18 PM

      (KPL​) The combined trade value of Laos’ imports and exports amounted to 1.101 billion U.S. dollars in February, according to the Xinhua News Agency report on Tuesday.


Top