Strengthening State management of real estate business

The Government has just issued Resolution No. 27 of the thematic meeting on law making in February this year.

In this resolution, the Government requests the Ministry of Construction to complete the draft of the amended Law on Real Estate Business , ensuring: Clarifying the principles of applying the Law on Real Estate Business in relation to relevant laws: Civil Code, Investment Law, Land Law, Bidding Law, Notary Law..., in accordance with the principles of building and applying laws in accordance with the provisions of the Law on Promulgation of Legal Documents.

In addition, it is necessary to harmoniously handle the relationship between the State, the market and society according to the principle that the State will not intervene if the market operates well, ensuring safe, healthy and sustainable market development; at the same time, it is necessary to have appropriate and timely regulatory measures and tools from the State when necessary, ensuring social security and economic stability.

Tăng cường quản lý Nhà nước về kinh doanh bất động sản - 1 — The Government requested the Ministry of Construction to promptly complete the draft of the revised Law on Real Estate Business (Illustration photo: Tran Khang).

Strengthening State management of real estate business, designing appropriate management tools in terms of scope, subjects and authority of all levels, ensuring harmony of interests of the State, people and enterprises, market transparency and social justice; promoting decentralization and delegation of authority in a reasonable manner to promptly handle situations, difficulties and problems arising, associated with inspection and supervision of implementation; ensuring unified management from central to local levels of the real estate market; having inspection and supervision tools and a mechanism for rewards or handling when there are violations.

Review the legal provisions of the draft Law on: Contracts, notarization, authority, procedures, conditions for transferring real estate projects , ensuring consistency with legal provisions on notarization, civil, land, investment...

Reform administrative procedures, prevent and combat corruption and negativity; continue to collect opinions and fully and substantively consult with affected subjects, experts, scientists, and practical activists; coordinate with agencies to continue to absorb and perfect the draft Law, ensuring quality.

It is known that after implementation, the Law on Real Estate Business 2014, in addition to its effectiveness, has revealed many shortcomings and limitations, many contents are overlapping, affecting the development of housing projects and the real estate market.

The Draft Law on Real Estate Business will be submitted to the National Assembly at the 5th session (May 2023) and the 6th session (October 2023) in parallel with the innovation of the Land Law to ensure consistency in the implementation process.

Source