This is the topic of a seminar organized by the Vietnam Lawyers ‘Association at the North Cam Ranh peninsula Tourist area took place on May 6th. The seminar was chaired by Mr. Nguyen Van Quyen - Chairman of the Vietnam Lawyers’ Association; Tran Cong Phan - Vice President and General Secretary of the Vietnam Lawyers’ Association; Le Huu Hoang - Member of Standing Committee of Provincial Party Committee, Standing Vice Chairman of Khanh Hoa Provincial People's Committee.
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Illustrative photo. Photo: Thanh Hien.
The seminar spent time for delegates, scientists, leading experts, policy makers, tourism real estate investment enterprises to focus on analyzing 3 major and urgent issues: Overview of Vietnam's tourism real estate market, identifying the development trend of Vietnam's tourism real estate market in the post-Covid-19 context; current policies and laws for Vietnam's real estate market - legal bottlenecks that need to be removed and barriers from practice that need to be cleared; the impacts and influences of the international environment, policy and legal orientation in tourism real estate investment and business in Vietnam.
According to statistics of the Vietnam Real Estate Association, tourism real estate has only been formed and developed in the past 5 years, but has contributed equivalent to about 21.3% of the number of rooms in the 3 - 5 star hotels nationwide. As of September 2021, only in 15 localities in the country (including Khanh Hoa), there were a total of 239 tourism real estate projects with a total value of product lines equivalent to 30 billion USD. Tourism real estate business is regulated with about 13 documents including laws and by-laws. However, these regulations are incomplete, do not keep up with reality, lack consistency, and are not synchronized, causing confusion for state management in localities and a bottleneck for tourism real estate investment business activities.
MY HAU