The draft Land Law (amended) is being considered and approved by the National Assembly at the 5th Extraordinary Session. Regarding the draft Land Law (amended), the Vietnam Association of Real Estate Brokers (VARS) has some opinions and views.
VARS stated that there are still about 20 points, issues that have not been truly agreed upon. These are all important issues, greatly affecting the development of the real estate market, as well as related groups of subjects.
Group of issues related to people's interests
The issue of granting land use right certificates needs to be regulated specifically, to the right person, for the right job. Avoid affecting the legitimate rights and interests of the people. When the land is under one's ownership, but completing the paperwork in accordance with regulations is difficult, the procedures are complicated. Many cases have to wait, like "begging".
Regarding the rights of people whose land is subject to recovery. There must be appropriate compensation and site clearance policies. Ensure the regime for people, so that they do not suffer losses. At the same time, there must be resettlement plans to ensure people's living conditions. Do not let people be forced into a difficult situation, absolutely avoid the mentality of "being forced/forced".
Group of issues related to businesses and investors
Access to land needs to be made more open and transparent. Regulations on auctions and bidding need to be specific, procedures need to be simple, and avoid red tape. The implementation process must ensure fairness.
Regarding regulations on calculating land use fees: the option of calculating land use fees according to market prices has been discussed a lot. However, how to ensure fairness while encouraging investors to develop projects is not easy. There must be regulations, calculations, and careful consideration to harmonize the interests of the people, businesses, and the State.
Regarding the option of paying land use fees. Instead of requiring investors to pay land use fees once, it is possible to consider the option of paying land use fees annually. This will help investors reduce the financial burden in the early stages of project implementation. Thanks to that, real estate prices will also have the opportunity to be adjusted to a more reasonable level. Investors will not have too much financial pressure, and will also have room to invest in completing the project with better quality. Issues that pose the risk of "polishing the project" to serve bank loans and mobilizing capital in violation of regulations will also be reduced somewhat.
Regarding the implementation of commercial housing projects, mixed-use urban areas... there must be available residential land in the project and the investor must ensure 100% compensation and site clearance agreement. Will it cause difficulties for businesses? If following this regulation, what will be gained and what will be limited?
In addition, issues related to foreign-invested enterprises receiving land use rights to invest in project development; buying and selling, investing in real estate on commercial and service land; how to divide plots in a harmonious manner, avoiding the risk of causing "insecurity", but not being too "strict", are also things that need to be carefully considered.
Group of issues related to state management
As of December 30, 2023, about 40/63 provinces and cities nationwide have had their master plans 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 planning, land use plans, conversion of functions and approval of investment projects according to the plan, ensuring consistency, avoiding overlap or conflict.
It can be seen that the active review to pass the revised Land Law is a very determined move of the Government to soon complete the institutions, to stimulate and create momentum for economic and social development. However, due to the very deep and wide impact of this Law, in the final review process before passing, it is necessary to be very careful and focused by the participants. There needs to be careful consideration and calculation to ensure the suitability and "coherence" with the policies, spirit and regulations of other related Laws. "Quality of content" should be emphasized more than "time to complete and pass the Law".
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