US real estate developers target EB-5 capital from Vietnam

US real estate developers are turning to a new, fast-growing source of cheap capital from Vietnam known as EB-5, the Wall Street Journal reported this week.

Vietnam is rapidly gaining on China as one of the biggest providers of EB-5 capital to the US, which offers green cards in return for investing in job-creating US businesses or real-estate projects.

About 20 percent of EB-5 investment in American real estate now comes from Vietnam, putting it just behind India's 25 percent and China's 30 percent. Vietnamese received 693 EB-5 visas last year, up from 471 in 2017. Four years ago Vietnam only received 121 EB-5 visas.

Source: VOV5