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Japan to help Vietnam get a better grasp of land prices

Tokyo seeks to plant business seeds as Asian cities urbanize

Vung Tau in Vietnam's south. The need for accurate land appraisal is growing as the country's economy develops and cities urbanize.   © Reuters

TOKYO -- Japan hopes to pave the way for its companies in Vietnam and other Asian markets by exporting techniques for real estate appraisal, creating opportunities by fostering urbanization and financial industries.

Vietnam's northern coastal city of Haiphong will consider introducing the methods this summer with specialists commissioned by Japan's land ministry. Property prices have seemingly been growing as the city urbanizes, but land prices provided by the Vietnamese government do not fully reflect actual market values, leaving the country without a benchmark to use in business.

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