Topic: law

Hanoi Accelerates 2024 Land Law Rollout, Pilots Groundbreaking Policies

Government Pushes for Amendment to Value Added Tax Law, Adding 12 Taxable Goods

Amid rampant leaks and illegal trading of personal information, the Ministry of Public Security proposes a robust legal framework to safeguard citizens' data privacy.

Law is scheduled to take effect from January 1, 2025.

At the Real Estate Forum 2022 with the theme "Supply of real estate market in Ho Chi Minh City: Practical issues to be solved" on October 28, Mr. Le Hoang Chau, Chairman of Ho Chi Minh City Real Estate Association (HoREA), said that the real estate market has improved transparent with clear mechanisms and policies. However, safety and stability still lack due to the overlap between the Land Law 2013 and the Housing Law 2014 and other sub-law documents.

At the Real Estate Forum 2022 on October 28, with the theme “Supply of real estate in Ho Chi Minh City: Practical issues to be solved”, Mr. Le Hoang Chau, Chairman of Ho Chi Minh City Real Estate Association (HoREA), said transparency in the market has improved with clear mechanisms and policies. However, safety and stability are still of concern due to the overlap between the Land Law 2013 and the Law on Housing 2014 and other legal documents.

Many localities are announcing the auction of land use rights as the end of the year approaches. Northern Nam Dinh province will auction 74 land plots, the central highlands’ Dak Lak province 52 land plots, and northern Quang Ninh province 17 land plots. These auctions are being conducted openly, honestly, and equally, and protecting the legitimate rights and benefits of participating parties.

At a meeting with leaders of commercial banks on October 16, Prime Minister Pham Minh Chinh asked them to comply with the law and strengthen their governance capacity. Vietnam’s commercial bank sector has continually grown in scale, quality, and financial capacity. Total assets at joint stock commercial banks stand at VND7.5 quadrillion ($307.15 billion) and at four State-owned commercial banks more than VND7 quadrillion (286.7 billion).

The Legislative Research Institute under the National Assembly Standing Committee has said that the legal framework on the ownership of virtual assets will focus on identifying the legal nature of virtual assets and building specific criteria for licensing to operate crypto asset exchanges and intermediaries in the field in Vietnam. Vietnamese law does not currently recognize ownership of virtual and digital assets.

Most of the law projects that Prime Minister Pham Minh Chinh has requested relevant ministries and agencies complete and submit to the National Assembly for comment at its next meeting in October relate to economic matters, such as amendments to the Land Law, the revised Law on Bidding, the revised Law on Cooperatives, the revised Price Law, the revised Law on Electronic Transactions, the revised Consumer Protection Law, and amendments to the Law on Anti-Money Laundering.