Resolution 18/NQ-TW: Promoting non-cash payments in real estate transactions in Vietnam

Promoting non-cash payment in real estate transactions is one of the tasks and solutions at Resolution 18/NQ-TW in 2022 on "Continuing to renovate and finalize the institutions and policies; improving the effectiveness and efficiency of land management and use; and creating motivation to turn Vietnam into a developed country with high-income development".

Resolution 18/NQ-TW: Promoting non-cash payments in real estate transactions in Vietnam(Illustration)

Vietnam's Resolution clearly states the task of "Improving legal regulations related to the real estate market, including the land use right market" as follows:

- Improving the legal basis and promoting non-cash payments in real estate transactions in Vietnam.

- Promoting commercialization of land use rights.

- Building a real estate market information system associated with land information;

- Specific policies to encourage the development of the land use right market, especially the agricultural land rental market.

- Specific mechanism to ensure the healthy, safe, and sustainable development of the real estate market; strictly control and overcome land speculation.

In addition, the Resolution also provides a number of other tasks and solutions, such as:

- Renovating and increasing inspection, examination, supervision, and handling of violations; settling disputes, complaints and denunciations related to land; tightening the discipline, preventtion and combatinng corruption and negativity;

- Accelerating administrative reform, digital transformation and capacity building for state management of land;

- Focusing on solving the basic limitations, shortcomings, and long-standing problems related to land management and use;

- Strengthening the leadership of the Communist Party of Vietnam, bringing out the role of the Vietnam Fatherland Front; socio-political organizations and people in land management and use.

See more at Resolution 18/NQ-TW dated June 16, 2022, Vietnam

Diem My

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