Amended Land Law: There are about 20 points left, the issue has not really been agreed upon
On January 15, the National Assembly opened its 5th extraordinary session, which included reviewing and approving the revised Land Law project. This is information that is of interest to people, investors, and real estate businesses.
The Vietnam Association of Real Estate Brokers (VARS) believes that although the Housing Law and Real Estate Business Law have been passed, many key points still have to wait for the Land Law to be amended.
According to VARS, besides the contents that have been voted and agreed upon by the majority, there are still about 20 points, the issue has not really been agreed upon. These are all important issues, greatly affecting the development of the real estate market.
Specifically: The first group of issues related to people’s interests:
The draft revised Land Law is of interest to people, investors, businesses, and real estate. Photo: Gia Linh
The issuance of land use rights certificates needs to be specifically regulated, with the right people and the right job. Avoid affecting the legitimate rights and interests of people.
Regarding the rights of people when land is subject to recovery, there needs to be appropriate mechanisms and policies for compensation and site clearance, ensuring benefits for people so that they do not suffer losses. At the same time, there needs to be resettlement plans to ensure people’s daily lives. Do not let people be forced into difficult positions, absolutely avoid the mentality of “being coerced/raped”.
Next is a group of issues related to businesses and investors:
In particular, land access needs to be made more open and transparent. Regulations on auctions and bidding need to be specific, have simple procedures, and avoid cumbersomeness. The implementation process must ensure fairness.
With the regulation on calculating land use fees, VARS said that the plan to calculate land use fees at market prices has been discussed a lot. There needs to be very careful regulations, calculations and considerations to harmonize the interests between people, businesses and the State.
With the land use fee payment option, instead of requiring the investor to pay land use fee once, the option of paying land use fee annually can be considered.
Particularly for implementation of commercial housing projects, mixed urban areas… there must be available residential land area in the project, and the investor must ensure that 100% site clearance compensation agreement will cause difficulties. for business or not?
VARS recommends allowing real estate businesses to pay annual land use fees. Photo: Gia Linh
Third is a group of issues related to State management:
As of December 30, 2023, about 40/63 provinces and cities across the country have had their general planning approved. This is the basis and driving force for the development of the real estate market in localities in the coming time. However, there is still a need for specific and unified regulations to help localities concretize the implementation of land use planning and plans, convert functions and approve investment projects.
“The active review to pass the amended Land Law is a very determined move of the Government, to soon improve institutions, to stimulate and create momentum for economic and social development. However, There needs to be careful consideration and calculation to ensure conformity and ‘fit’ with the policy, spirit, and regulations of other relevant Laws.
The issue of “quality of content” should be emphasized more than “time to complete and pass the Law”, said VARS representative.
