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Thursday, June 13, 2024

Saigon Times Group to hold finance-real estate forum in end-May

By Dung Nguyen

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HCMC – The Saigon Times Group is set to hold a finance and real estate forum at Rex Saigon Hotel on May 29, providing a platform for ministries, departments, experts, and business leaders to discuss solutions for overcoming challenges and promoting sustainability in the two sectors.

The forum, themed “Driving Capital Flows, Embracing Opportunities for Recovery,” will cover various topics on facilitating capital flows and the strategies market insiders use to adapt to changes and capitalize on recovery opportunities.

Recently, the Government approved advancing the effective date of three related laws, namely the amended Land Law, the Housing Law, and the Real Estate Business Law, to July 1, 2024, instead of January 1, 2025. The National Assembly is reviewing two draft pilot resolutions, while relevant ministries and departments are finalizing over 20 government decrees and ministerial circulars. These will provide detailed regulations and guidance for implementing the three laws and addressing legal obstacles in the market.

With the early enactment of these laws and relevant documents, the legal hurdles in the real estate market, especially in 148 property projects in HCMC, are expected to be gradually resolved.

Along with legal obstables, other difficulties have persisted, such as bond liquidity issues, real estate enterprises’ cash flows, supply and demand imbalances, and questions regarding the effectiveness of legal status changes.

Under these circumstances, the Saigon Times Group is organizing the Finance-Real Estate Forum 2024 to explore ways to stimulate market liquidity and identify suitable products for the new development cycle.

At the forum, Phan Duc Hieu, a standing member of the National Assembly’s Economic Committee, will discuss the real estate market situation in the new legal environment. Le Hoang Chau, chairman of the HCMC Real Estate Association (HoREA), will make a presentation on enterprises’ coping plans, the current supply-demand situation, pricing issues, and transaction liquidity.

The forum will feature two panel discussions. The first, focusing on capital flow, will include Nguyen Duc Lenh, deputy director of the State Bank of Vietnam’s HCMC branch, who will elaborate on credit from the perspective of commercial banks, especially given the lower-than-expected credit growth since the beginning of the year.

Hoang Huy, a strategist and deputy head of the Research and Analysis Department at Maybank Securities, will offer insights and market forecasts based on recent macroeconomic shifts, particularly concerning the rising corporate bond repayment pressure.

The second panel discussion will address legal aspects and enterprise responses. Participants will include Su Ngoc Khuong, senior director of Savills Vietnam, and Duong Thanh Thuy, deputy chairwoman of Trung Thuy Group.

A highlight of the forum will be perspectives from industrial real estate developers, a segment showing impressive growth despite the real estate market downturn.

Truong An Duong, general manager of North Vietnam and Residential at Frasers Property Vietnam, will discuss why this segment is expected to lead the market recovery, focusing on land fund development and sustainable investment trends.

Truong Khac Nguyen Minh, deputy general director of KCN Vietnam, will talk about developing products and services tailored to small and medium-sized enterprises.

The event will feature over 120 guests, including experts, Government officials, executives of real estate companies, commercial banks, and financial institutions at home and abroad.

For those interested in attending the forum, please register here.

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