Prime Minister Pham Minh Chinh has asked the Ministry of Natural Resources and Environment and the Ministry of Construction to study the feasibility of establishing a trading floor for land use rights.
The move aims to institutionalize the Resolution from the 13th Party Central Committee’s 5th plenary session on the continued renewal and perfection of mechanisms and policies to improve the efficiency and effectiveness of land use and management. It also targets facilitating the open, transparent, healthy, and sustainable operations of the land use rights market.
The trading floor would serve as a center providing detailed information on land and connecting potential sellers and buyers.
A State body managing the land use rights trading floor would be significant in enhancing transparency in real estate information and market stabilization.
Real estate transactions are mostly conducted through agents, which has led to rising housing prices over time.
Vietnam already has trading floors for stock exchanges, commodities, and corporate bonds.
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