Unleashing and promoting land resources

On June 29, the National Assembly passed the draft Law amending and supplementing a number of articles of the Land Law No. 31/2024/QH15, the Housing Law No. 27/2023/QH15, the Real Estate Business Law No. 29/2023/QH15, and the Law on Credit Institutions No. 32/2024/QH15. According to the newly passed draft Law, the National Assembly allows 3 laws related to the real estate market: Land Law 2024, Housing Law 2023, and Real Estate Business Law 2023 to take effect from August 1, 2024; 5 months earlier than the previously decided date of January 1, 2025.

Before the National Assembly passed and presented the report on acceptance, revision and explanation of the draft Law, Chairman of the National Assembly's Economic Committee Vu Hong Thanh said that according to the report of the National Assembly Standing Committee, the 2024 Land Law, the 2023 Housing Law and the 2023 Real Estate Business Law have overcome the limitations and problems of previous laws. At the same time, there are many innovative and progressive regulations that are expected by the people and society to create momentum for socio-economic development in the new period. In addition, many regulations in the laws can be applied immediately without the need for detailed guidance documents.

According to experts, the 2024 Land Law has been comprehensively innovated compared to the 2013 Land Law. The Law consists of 16 chapters and 260 articles, of which 180/212 articles of the 2013 Land Law are amended and supplemented and 78 new articles are added. The Law has perfected land institutions and policies in line with the development institutions of a socialist-oriented market economy; resolved overlapping and contradictory situations in land-related policies and laws; resolved problems and shortcomings arising from practical land management and use. In addition, it strengthens land management in terms of area, quality, and economic value; and ensures harmony between the rights and interests of the State, land users, and investors.

The 2024 Land Law also promotes the commercialization of land use rights, develops a transparent and healthy real estate market; establishes a modern, transparent and effective land management system, promotes administrative procedure reform, digital transformation, improves land access index; promotes democracy, limits land-related complaints...

... Some notable new points of the 2024 Land Law include: removing the land price framework, issuing a new land price list from January 1, 2026; land without documents before July 1, 2014 is granted a red book; adding more cases of exemption and reduction of land use fees; diversifying forms of compensation for people whose land is recovered; land can only be recovered when resettlement housing has been handed over; adding support for people whose land is recovered; allowing people who are not directly involved in agricultural production and enterprises to receive transfers of rice-growing land; increasing the limit for receiving transfers of agricultural land; Vietnamese people residing abroad are granted expanded land use rights...

Along with the National Assembly's approval of the draft Law allowing 3 laws to take effect earlier, the Government has recently issued a Decree regulating land prices, effective from the effective date of Land Law No. 31/2024/QH15. This is of great significance in order to unblock and promote potential, and make the most effective use of land resources. Timely and thoroughly resolve land backlogs; at the same time, remove difficulties in accessing land for production, business, attracting investment for socio-economic development, and serving the practical interests of the people.

Source: http://baolamdong.vn/chinh-tri/202407/khoi-thong-va-phat-huy-nguon-luc-dat-dai-76a2fd1/