The project aims at systematically monitoring the income and property of all citizens, businesses, organizations for the sake of modernization and digitalization of this task; the establishment of IT infrastructure, regulations and procedures to systemize, update, store, protect, and timely, accurately provide conclusions or declarations on properties, incomes, related data in accordance with legal regulations on corruption prevention and control.

From 2022-2023, the mechanism to operate, manage, and exploit this national database will be completed. In the next two years, data on incomes and properties will be digitized and integrated to the national database controlled and managed by the Government inspection office.

In 2025, these data will then be used to replace 50 percent of the hard copy to support in individuals, businesses, and organizations in declaration and monitoring tasks. After 2025, 100 percent of the data will be digitized.

This valuable database consists of information on property, income declaration, verification conclusion, other data related to legal property and income control.

Source: Sai Gon Giai Phong

Income per capita low, but land prices sky-high

To prevent speculation and price inflation, the State needs to apply comprehensive measures to increase the transparency and supply in the market.

Vietnam to improve transparency of real estate market in 2022

The development of a real estate database has not been in line with the market in Vietnam over the years.