Update news Land Law
The newly approved Land Law, Housing Law, and Law on Real Estate Business, which will take effect from 2025, are expected to create more favourable conditions for Overseas Vietnamese (OVs) in owning and trading real estate, according to experts.
The real estate market will not recover promptly as it will take more time for the new Land Law to be applied, according to experts.
The purpose of revising the law is to perfect the land-related legal system in line with the socialist-oriented market economic institution and international integration.
Prof Dang Hung Vo said Vietnam is taking a step forward with the policy that the lives of people whose land is taken back by the state to make room for investment and development projects must be equal or better than they were before.
People may be reluctant to buy apartments if the Ministry of Construction’s (MOC) proposal on setting a cap on apartment ownership term at 50-70 years is approved. Instead, they will seek to buy houses on land plots.
The Government has proposed a delay to a submission of the draft Law on Land (amended) to the National Assembly (NA) until the Party Central Committee issues directions on reforms of land-related policies and laws.
During a group discussion at the latest National Assembly session, President Nguyen Xuan Phuc said that many people got rich thanks to land, but many others have been imprisoned due to land.
The Land Law disallows the issuance of land use rights certificates to aliens, Minister of Natural Resources and Environment Tran Hong Ha told reporters on the sidelines of the National Assembly session on May 25.
Foreign nationals entering Vietnam are not granted land use rights as enjoyed by local citizens, according to a statement made by the Ministry of Natural Resources and Environment.
The Government has proposed adding eight draft laws in the 2020 law and ordinance building agenda of the National Assembly (NA),
National Assembly deputies on Monday voted to focus on laws and policies to prevent and fight child abuse.
The supervision group of the Hanoi’s People’s Council has asked the municipal Department of Natural Resources and Environment to work with the city’s authorities in order to reclaim long-delayed projects which violate the current Land Law.
Director of the Institute of Policy and Strategy for Agriculture and Rural Development, Nguyen Do Anh Tuan, talks to Vietnam News Agency about the policy on the expansion of agricultural land limit and accumulation.