On the morning of June 29, with the majority of delegates in favor, the National Assembly officially passed the project of "1 law amending 4 laws" – encompassing the Land Law, Housing Law, Real Estate Business Law, and Law on Credit Institutions. These laws will take effect from August 1, 2024.

Presenting the report on receiving, revising, and explaining the opinions of the delegates, Chairman of the NA Economic Committee Vu Hong Thanh stated that many delegates agreed on the necessity of promulgating these laws to adjust and improve the effectiveness of the current legal framework. However, concerns remain regarding ensuring the conditions for implementing these laws.

Some delegates suggested keeping the effective date of the laws as January 1, 2025, to allow relevant agencies adequate time to develop thorough and quality decrees and circulars. This would also give localities time to develop the necessary documents according to the authority assigned by the laws.

Others suggested clarifying the effective date as August 1, 2024. The Government, having submitted a proposal to amend and supplement several articles of these laws, must be responsible for their implementation.

The National Assembly Standing Committee noted that the new Land Law, Housing Law, and Real Estate Business Law institutionalize many new policies and guidelines from the Party and State, addressing the limitations and difficulties of previous laws.

Many provisions are innovative and progressive, expected by the people and society to drive socio-economic development in the new period. These provisions can be applied immediately without needing detailed guidance documents.

“The early implementation of these laws is both a wish and a requirement of the National Assembly,” said Mr. Thanh. Since passing the laws, the Government and the Prime Minister have directed ministries, branches, and localities to develop detailed regulations and guidance documents for implementation actively. The Government has stated that the proposed plan aims to ensure no obstacles in applying the law and to avoid different interpretations.

The Government has committed to promptly issuing detailed regulations and guidance documents for implementing the Land Law, Housing Law, and Real Estate Business Law, ensuring quality and progress, avoiding legal gaps, and preventing any misuse of policies or legalization of violations.

“The Government is responsible for the effectiveness of adjusting the enforcement and transitional provisions of the laws and handling any issues arising after their implementation,” the report stated.

Mr. Thanh acknowledged that some opinions suggested caution regarding the timing of the laws' implementation due to concerns about the progress and roadmap for developing and promulgating detailed guiding documents for localities. These opinions emphasized the need for the Government to identify and fully assess the risks, challenges, and potential problems and have appropriate solutions.

The Standing Committee of the National Assembly agreed with these concerns. The Prime Minister has issued numerous documents urging ministries, branches, and localities to focus on issuing detailed regulations and instructions for implementing the laws.

"The Government affirms that if the National Assembly passes this draft law at the 7th session, there will still be time for localities to complete and issue the necessary documents to ensure progress, quality, and effective implementation from August 1, 2024," said Mr. Thanh.

Chairman of the Economic Committee Vu Hong Thanh requested the Government closely direct the issuance of detailed regulations and instructions for implementation by ministries, branches, and localities. It is essential to avoid problems due to delays or the lack of specific documents and ensure all conditions are prepared for the laws' implementation from August 1, 2024, once passed by the National Assembly.

Quang Phong