Land in Nha Be District, Ho Chi Minh City, as pictured in July 2024. Photo by VnExpress/Quynh Tran
I sold my land and house to invest in a business, but ended up being poorer than my brother who only waited for property prices to rise.
Six years ago I sold my properties to invest in a fish production company and created jobs for hundreds of workers. My brother, uninterested in running a business, chose to lease his properties out for monthly income.
My company, however, went bankrupt after two years and I lost 70% of my investment. Meanwhile my brother saw his property value double.
I took risks and failed, while he became wealthier by doing almost nothing. It hurts.
I keep asking myself: why are people who are contributing to the economy by investing in businesses end up losing money while property owners earn significant sums from speculating?
If the government does not intervene and allow property prices to surge to unreasonable levels, no one will invest in manufacturing anymore. People will just dump their money into land and wait a few years for profits.
I expect specific solutions from policymakers to ensure sustainable economic growth.
