Former US diplomat serves as Vietnam realty mentor

May 20, 2014 | 15:00

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An Le, former US Consul General in Ho Chi Minh City between 2010 and 2013, has become an international advisor at property developer Hung Thinh Corp with a new remit to lure more overseas Vietnamese back to the country.

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Announcing his new role on May 13, Nguyen Dinh Trung, chairman and CEO of the Ho Chi Minh City-based company, said the move would aid the developer in promoting properties to overseas Vietnamese, as the country was preparing to introduce new laws on housing and real estate trading.

Le, a now retired US Foreign Service officer, would also introduce investment opportunities in Vietnam abroad, said Trung.

Le and his Vietnamese American wife Tam, were both born and raised in Vietnam. With a home in Virginia, Le has broad experience in dealing with current economic, political and security issues across the Asia region. His overseas postings while working for the US government included Beijing, Tokyo, Kuala Lumpur, Singapore, Seoul and Paris. Throughout his diplomatic career, Le had worked closely with the American business community.

In its Vietnam Real Estate Q2 2014 report issued in April, Business Monitor International, a global independent provider of proprietary data, analysis, ratings, rankings and forecasts, said it was increasingly positive regarding the long-term strength of Vietnam’s commercial real estate sector. Although it is expecting some softness to continue in the market in the short-term due to oversupply in some sectors and cities, in the long term, the strength of the country’s economy and manufacturing base, as well as its youthful demographic, would continue to drive the commercial real estate market.

By By Tuong Thuy

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