Savills: EVFTA positively impacts on Vietnam’s industrial real estate market
The EU-Vietnam Free Trade Agreement (EVFTA) has a positive impact on Vietnam’s real estate market, especially the industrial real estate, said experts from Savills Vietnam.
EVFTA is a landmark deal and strongly promotes industrial and export sectors in Vietnam by removing 99% of tariffs on goods from both sides.
Vietnam’s industrial clusters and zones have been attracting attention from investors, especially those from Europe.
Troy Griffiths, Deputy Managing Director of Savills Vietnam, said the trade deal shows the Vietnamese Government’s commitment to turning the country into a leading destination in manufacturing in Asia.
According to Griffiths, bilateral trade activities between Vietnam and the EU will certainly rise, resulting in an increase in foreign direct investment and jobs and offering more opportunities in all real estate segments.