US builders look to drop a load on Viet Nam

US builders look to drop a load on Viet Nam

(21-04-2007)

NEW YORK — The time has come for US enterprises to get in on the booming Vietnamese real estate market and help usher the country into the next phase of development, said Viet Nam-US Trade Council president Virginia Foote.

Infrastructure construction would take top priority in this new phase, Foote told an investment seminar in New York on Thursday.

Representatives from about thirty Vietnamese firms, including such major players as the Viet Nam Glass and Ceramics Corporation (Viglacera) and the Song Da Construction Joint Stock Co, as well as about forty US firms, participated in the seminar organised on opportunities in construction in Viet Nam.

Foote cautioned that great sources of capital were circling around the Vietnamese market and looking for a place to land.

Thursday’s seminar informed prospective US investors of opportunities in Viet Nam’s construction and building materials markets.

Viet Nam was calling for US$140 billion in foreign direct investment through 2010 for development of all economic sectors, especially infrastructure. A series of mega projects to construct roads, bridges, airports, seaports, office buildings and residential areas were now waiting for foreign dollars to get them off the ground. — VNS