At a private event held by the Da Nang People’s Committee and Long Hau Industrial Park, the Relex Development team established an ongoing bilateral cooperation with Long Hau Industrial Park.

The September 7 meeting was held at Taj Campton Place in San Francisco. It was attended by Da Nang City Representatives, Jones Lang LaSalle Incorporated, and Long Hau Industrial Park.

Squawk Advisors, Relex’s parent company, has cooperated with Long Hau Industrial Park since 2015. After attending the Relexation summit in Vietnam, representatives from Long Hau extended a special invite to the Relex team.

Long Hau Industrial Park’s parent company, Tan Thuan, constructed much of the modernized development of the Phu My Hung neighborhood in District 7 of Ho Chi Minh City. They have now set their sights on Danang.

Danang Hi-Tech Industrial Park is a project of central focus for the group, according to Mr. Hieu Bui, Corporate Development Director at Long Hau Corporation.

The seminar familiarized U.S. investors with the opportunities available in the coastal city, and Da Nang City representatives addressed the attendees regarding the opportunities available.

In his opening address, Mr. Tran Van Mien, the Vice Chairman of Da Nang People’s Committee, a high-level government official, welcomed other “government officials, investors, enterprises, organizations, associations, and all distinguished guests” to the invite-only seminar. The conference discussed the opportunities in Da Nang, which boasts a high growth rate of GDP at 8 to 9 percent, significantly higher than other parts of Vietnam.

“Danang has been at the forefront of developing and upgrading infrastructure, becoming a communication hub in the Central Key Economic Zone with synchronized transport systems including railways, road networks, and airports,” Van Mien shared.

Global Real Estate transparency expert Ms. Bui Trang of Jones Lang LaSalle then took the podium, discussing Vietnam’s high rate of GDP growth and the increasing amount of investment capital flowing into Vietnam. U.S. investments account for only approximately 17 percent of the foreign capital invested. As for FDI by sector, real estate leads with a whopping 53.87 percent.

Trang explained to the audience the benefits of investing in Danang. She identified visa exemption, land use levy exemption/reduction, tax exemption/reduction, and accessibility to provincial/state budgets as reasons to motivate investors.

JLL group publishes a report yearly regarding the state of real estate transparency in countries across the world. Growing transparency results in growing foreign capital investment. Relex, which has used JLL’s findings to inform its own business model, was pleased to create a connection with representatives from this group.

In his closing remarks, Mr. Truong Quang Nghia, Secretary of the Da Nang Party Committee, said, “I hope that there will be a new wave of American investments into Vietnam, and more American investors and businesses will come to Da Nang to invest, and stay in the city in the near future.”