Dưới đây là bản dịch tiếng Anh chuyên nghiệp cho đoạn văn trên:

This was shared by Ms. Nguyen Thi Van Khanh, General Director of Gamuda Land Vietnam, at the Vietnam Mergers and Acquisitions (M&A) Forum 2025, organized by the Financial & Investment Newspaper.

Continued Investment Expansion

Speaking on the afternoon of December 9 at the Vietnam Mergers and Acquisitions (M&A) Forum 2025, Ms. Nguyen Thi Van Khanh, General Director of Gamuda Land Vietnam, shared the group’s investment expansion strategy and market perspective.

According to Ms. Khanh, real estate remains among the leading sectors, typically ranking second or third after manufacturing. In Vietnam, Gamuda Land has continuously expanded its presence, recently allocating a total investment capital of approximately $1 billion to expand its landbank.

The leader of Gamuda Land added that the majority of investors choose to accumulate wealth through real estate ownership. Over the past 2–3 years, positive market developments have helped significantly appreciate investors' asset values over time.

Explaining the decision to accelerate investment in Vietnam, Ms. Khanh stated that Gamuda Land views Vietnam as a sustainably growing market with steady, impressive GDP growth over many years, coupled with rapid population growth and immense housing demand.

“These factors create an attractive foundation for foreign investors, including us, to continue expanding,” Ms. Khanh said.

In the past 3–4 years, Gamuda Land has completed six M&A deals through joint ventures or project acquisitions from local enterprises. Furthermore, Gamuda Land has recently received numerous partnership proposals from existing partners and new investors. “This will be a key driver helping Gamuda Land maintain and boost its M&A activities over the next 3–5 years,” Ms. Khanh affirmed.

Promises Are Crucial in M&A

Elaborating on M&A obstacles, Ms. Khanh noted that alongside opportunities, real estate M&A presents considerable challenges for foreign investors.

When receiving and evaluating numerous investment opportunities, Gamuda Land observed that a significant proportion of projects face legal hurdles to varying degrees. This serves as both a challenge and an opportunity, as foreign direct investment (FDI) investors must always adhere strictly to rigorous governance standards and due diligence protocols.

For FDI enterprises, deciding to acquire a project relies not only on the asking price but also heavily on the timeline. Corporations must conduct financial analysis, evaluate cash flows, project progress, feasibility, and all associated legal risks.

Most FDI enterprises are listed companies bound by commitments to existing and prospective shareholders. Therefore, any transaction must ensure transparency, feasibility, and alignment with long-term development strategies.

“We always carefully weigh the price before deciding. However, price is not the sole factor. The project’s location, the partner’s capacity and reputation, as well as the transaction structure, must be suitable for both Gamuda Land and the partner,” Ms. Khanh stated.

In cases where a project has not met full legal eligibility for deep implementation, Gamuda Land may opt to collaborate with an entity possessing strong capabilities in legal processing or project development. This three-party collaboration model helps optimize resources and guarantee progress.

Regarding valuation, the representative from Gamuda Land shared that all six M&A deals executed by the enterprise in recent times were based on market value—meaning a price mutually agreed upon by both buyer and seller following independent negotiations.

“Price is an important factor, but it is not everything. Criteria regarding legal standing, partner reliability, location, and transaction structure form the foundation for our investment decisions,” Ms. Khanh emphasized.

From an M&A operational experience standpoint, Ms. Khanh emphasized that flexibility and reasonableness are essential in any transaction. She recounted that during many negotiations with Vietnamese partners, both sides often attempt to protect their own interests, making it difficult to reach a middle ground.

“If a balanced middle ground cannot be identified, completing the transaction becomes extremely difficult. Therefore, flexibility is a prerequisite,” she noted.

According to Ms. Khanh, to pursue long-term M&A, both parties must listen, understand each other’s context, and possess the execution capabilities to fulfill agreed-upon commitments. Beyond pricing, one of the challenges for foreign investors is securing guarantees from local partners.

“Once commitments and promises are made, strictly executing them is paramount. We greatly value the partners who have accompanied us and look forward to further expanding our domestic partner network,” concluded the General Director of Gamuda Land Vietnam.