Unlocking and developing land resources.

On June 29th, the National Assembly passed a draft law amending and supplementing several 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 three laws related to the real estate market – the 2024 Land Law, the 2023 Housing Law, and the 2023 Real Estate Business Law – to take effect from August 1st, 2024; five months earlier than the previously decided date of January 1st, 2025.

Before the National Assembly passed the draft law, presenting the report on the amendments and explanations, the Chairman of the National Assembly's Economic Committee, Vu Hong Thanh, stated that, according to the report of the National Assembly Standing Committee, the Land Law of 2024, the Housing Law of 2023, and the Real Estate Business Law of 2023 have overcome the limitations and obstacles of previous laws. At the same time, many provisions are innovative and progressive, expected by the people and society to create momentum for socio-economic development in the new period. Furthermore, many provisions in these laws can be applied immediately without the need for detailed guiding documents.

According to experts, the 2024 Land Law represents a fairly comprehensive reform compared to the 2013 Land Law. The law comprises 16 chapters and 260 articles, amending and supplementing 180 out of 212 articles of the 2013 Land Law and adding 78 new articles. The law has perfected the institutional framework and policies on land, aligning them with the development of a socialist-oriented market economy; resolving overlapping and conflicting policies and laws related to land; and addressing existing problems and obstacles in land management and use. Furthermore, it strengthens land management in terms of area, quality, and economic value, ensuring a harmonious balance of rights and interests between 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 efficient land management system; accelerates administrative procedure reform, digital transformation, and improves the land access index; promotes democracy and reduces land-related disputes...

...Some notable new points of the 2024 Land Law include: abolishing the land price framework and issuing a new land price list from January 1, 2026; granting land use right certificates for land without documents before July 1, 2014; adding more cases of exemption and reduction of land use fees; diversifying forms of compensation for people whose land is confiscated; only allowing land confiscation after resettlement housing has been handed over; adding support for people whose land is confiscated; allowing individuals not directly involved in agricultural production and businesses to receive transfers of rice cultivation land; increasing the limit on receiving transfers of agricultural land; expanding land use rights for Vietnamese people residing abroad…

Along with the National Assembly's approval of the draft law allowing three laws to take effect sooner, the Government recently issued a Decree regulating land prices, effective from the date the Land Law No. 31/2024/QH15 comes into force. This is of significant importance in unlocking and maximizing the potential and efficiency of land resources. It aims to promptly resolve outstanding land issues and simultaneously address 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-polit/202407/khoi-thong-va-phat-huy-nguon-luc-dat-dai-76a2fd1/