The Vietnam Real Estate Association (VNREA) has proposed five key amendments to the draft resolution aimed at addressing issues within the Land Law.
These proposals focus on several critical areas that VNREA believes require revision for better implementation and fairness.
Firstly, investors should be allowed to continue deducting advanced expenses from other financial obligations they owe.
Secondly, infrastructure costs for the entire project should be considered when determining land prices, ensuring fairness and reflecting the true investment costs, especially for projects in new or reclaimed areas.
Thirdly, at Point b Clause 13 Article 3 of the draft resolution regulating transition for land recovery, compensation, support, resettlement, the phrase: "In case before the effective date of this Resolution but there is no decision" does not accurately determine the time frame of the event. VNREA proposes to adjust it to "In case by the effective date of this Resolution there is no decision...".
Additionally, VNREA proposes two new provisions not currently included in the draft resolution. The first is to allow for specific land pricing in cases where standard land price tables are not applicable, such as in newly developed areas or large-scale projects over 100 ha. The second proposal concerns the calculation of additional fees for periods when land prices have not been determined. VNREA argues that the responsibility for determining land prices lies with state agencies, and investors should not be penalized for delays in this process.
VNREA's comprehensive feedback aims to ensure that the Land Law's implementation is fair, transparent, and conducive to attracting investment, ultimately benefiting the real estate sector and the broader economy.
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