Management of the Real Estate Market in Vietnam with Lessons from Poland
Keywords:Vietnam Property Management Company (VAMC), mortgage liabilities (CDO), Polish Real Estate Association (REAS), International Monetary Fund (IMF), gross domestic product GDP), purchasing power parity (PPP).
Vietnamese economy in the year 2017 reached a GDP growth rate of 6.81%, inflation was controlled at 3.53%. According to Prime Minister Nguyen Xuan Phuc, Vietnam's economy has overcome many difficulties with the recovery and higher growth. In 2017, the size of the GDP economy will be about $ 220 billion, GDP by purchasing power parity - PPP $ 600 billion, per capita GDP of $ 2,385, and GDP per capita PPP is 6,000 US dollars. As predicted by the General Statistics Office, Vietnam's GDP in the next two years is expected to increase by 6.8%, and 7%. The exchange rate between the Vietnamese dong and foreign currencies such as the US dollar, the yen and the euro remains stable, while a trade surplus of $ 2.67 billion in 2017, slightly up from $ 2.52 billion US surplus in 2016. In addition to the macroeconomic highlights, Vietnam's economy faces challenges due to bad debt from the decline of the real estate market in the past, the bad debt ratio The banking system is high with interest rates falling but still at high levels, many businesses still find it difficult to mobilize business capital. At present, the drastic direction in the direction and management of the State Bank, the birth of the company VAMC recently brought the bad debt ratio of banks to an average of less than 5%. In this article, the author discusses the lessons learned from the management of the real estate market in Poland to provide a number of measures to increase liquidity in the real estate market in Vietnam economic growth in the future.
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