The concern called "Specific land prices" (Part 2)

The "way out" is not just for increasing budget revenue.

Of the 72 projects that the province is inviting investment for in October 2025, if the land valuation process is resolved, it will add a significant advantage to these projects for investors.

Nam Ha residential area, Tra Tan. Photo: Ngoc Lan

Silence from reality

Towards the end of October 2025, the consulting firm responsible for determining land prices for Residential Area No. 5 in Lam Dong province officially withdrew, ceasing its work. This also means the previously agreed-upon fees will no longer be paid, despite the submitted certificate and efforts to rectify the situation after five meetings. According to the head of the Provincial Land Management Department (Lam Dong Department of Agriculture and Environment), the company continues to operate normally in other areas, simply no longer pursuing the task of determining specific land prices for this off-budget project. The reason, as everyone understands, is that while the contract budget was small, travel expenses were high, and most importantly, the responsibility placed on them was immense.

Not long before that, the consulting firm responsible for determining specific land prices for the two Nam Ha residential areas in Tra Tan commune also withdrew in a similar manner. This is the second consulting firm, after the first one had already abandoned the project. This means that these firms sent personnel to carry out the work, and although they presented certificates, they later realized the work was flawed and gave up. This is nothing new, as similar situations occurred five years ago in the coastal region of Lam Dong . Notably, throughout 2023 and until August 1, 2024, the Department of Natural Resources and Environment frantically searched for consulting firms to calculate specific land prices for 45 non-budgetary investment projects, but the situation was akin to "a game of cat and mouse." Fortunately, when Decree No. 71/2024/ND-CP came into effect on August 1, 2024, out of the 45 projects that had been facing difficulties in determining specific land prices for a long time, 24 projects that lease land and pay annual fees were eligible to apply Clause 1, Article 9. This means these projects met the conditions for determining land prices using the K coefficient method, which is the land price table multiplied by the land price adjustment coefficient, a much simpler method than the land valuation methods used for calculating specific land prices.

The remaining 21 projects required specific land valuation using one of several methods: comparative, income, or surplus. These methods relied too heavily on the subjective judgments of valuation consultants, lacking accuracy, especially the surplus method. This led to an economic crime case in the former Binh Thuan area and significantly impacted the morale of officials and civil servants involved in land valuation at the time, as well as the consulting firms, who recognized the high risks involved. This situation persists to this day, not only within the province.

Notably, despite adjustments to relevant regulations based on recommendations from provinces and cities, the process of determining specific land prices for non-budgetary projects remains stalled. This silence has contributed to the need for further amendments to the 2024 Land Law, which is expected to take effect on January 1, 2026. Meanwhile, from now until the end of 2025, the head of the Lam Dong Provincial Land Management Department stated: "In accordance with our responsibilities, we will continue to invite consulting firms nationwide to participate in determining specific land prices for non-budgetary projects."

Son My 1 Industrial Park Project. Photo: Ngoc Lan

We eagerly await it.

At the September 2025 meeting on amending the Land Law, regarding financial mechanisms and land prices, the Ministry of Agriculture and Environment proposed using the land price table and land price adjustment coefficient as the basis for calculating financial obligations and compensation when the State reclaims land; and adding the factor of technical infrastructure costs to the price determination method. That is, the land price table will be used for all policies, including the land price for businesses with projects to pay into the budget, which will also be based on the land price table multiplied by the coefficient K.

At this meeting, Mr. Nguyen Ngoc Phuc, Vice Chairman of the Lam Dong Provincial People's Committee, suggested that the application of a stable 5-year land price list and adjustment coefficients should be based on practical data, reflecting land price fluctuations in each area to reduce pressure in calculations and ensure the efficient operation of the project. The land price fluctuation coefficient should be determined based on market data, avoiding mechanical application, and consideration should be given to a one-time land payment option for the entire project lifespan to facilitate businesses and management agencies.

Land plots on both sides of Vo Nguyen Giap road. Photo: Ngoc Lan

On the other hand, according to press reports, representatives from the Land Management Department affirmed that perfecting the process of determining initial land prices and specific land prices is a necessary step to ensure transparency, scientific rigor, and feasibility in land management practices. The Ministry of Agriculture and Environment is continuing to coordinate with localities, updating the process of amending decrees guiding the implementation of the 2024 Land Law, ensuring consistency and suitability for each region, each type of land, and the requirements of socio-economic development.

Several businesses with projects awaiting specific land price adjustments in the Lam Dong coastal area over the past few years have stated that they are eagerly awaiting the implementation of the amended regulations. They hope this will allow their projects to commence, their production and business operations to run smoothly, and most importantly, give their businesses opportunities for growth.

The proposed amendments to the land price regulations, aiming for specific and realistic pricing, especially those effective from January 1, 2026, will be the key to a breakthrough in Lam Dong's socio-economic development in 2026. This is because, in this province, which is the largest in the country, there are not only numerous projects that have been waiting for specific land prices for years to fulfill their financial obligations to the State, but also, in the 72 projects the province is inviting investment in as of October 2025, the removal of obstacles in the land price calculation process will further strengthen these projects for investors. In particular, a review shows that many of these are concentrated residential area projects, and projects with a scale that will significantly transform an entire region upon operation…

Therefore, decisions to increase budget revenue, revitalize underdeveloped areas, and create more jobs will help accelerate progress towards the goals set by the recent First Congress of the Lam Dong Provincial Party Committee.

Source: https://baolamdong.vn/moi-lo-mang-ten-gia-dat-cu-the-bai-2-400815.html