Conditions for individuals providing consultancy on specific land valuation in Vietnam from August 1, 2024

Conditions for individuals providing consultancy on specific land valuation in Vietnam from August 1, 2024 (Image from the Internet)

On June 27, 2024, the Government of Vietnam promulgated Decree 71/2024/ND-CP regulating land prices, which includes stipulations on the conditions for individuals providing consultancy on specific land valuation.

Conditions for individuals providing consultancy on specific land valuation in Vietnam from August 1, 2024

According to Clauses 1 and 2 of Article 36 Decree 71/2024/ND-CP, the conditions for individuals providing consultancy on specific land valuation in Vietnam are as follows:

- Individuals may practice land valuation consulting in organizations that determine land prices when the following conditions are met:

+ Hold a university degree or higher in land management, land administration, real estate, valuation, economics, finance, accounting, auditing, or banking;

+ Have at least 36 months of practical experience in the field of study since obtaining the degree specified in point a of this clause by the time of registration for the valuation expert list, changes, or additions to the valuation expert list;

+ Have a Certificate of Completion of professional training in land valuation issued by training institutions as specified in Clause 3, Article 36 Decree 71/2024/ND-CP

- Individuals who have been granted the Price Appraiser Cards under legal regulations on prices do not need to meet the conditions specified in Clause 1, Article 36 Decree 71/2024/ND-CP.

Operational conditions for institutions providing land valuation training in Vietnam in Vietnam

According to Clause 3, Article 36 Decree 71/2024/ND-CP, institutions providing professional training in land valuation in Vietnam must meet the following conditions:

- Be a university, vocational education institution, or another training institution established by the state and permitted to operate under legal regulations;

- Have at least 03 full-time lecturers or invited guest lecturers who meet the standards, professional qualifications as stipulated by law, hold a master's degree or higher in fields related to land management, land administration, real estate, valuation, economics, finance, accounting, auditing, banking, and have at least 10 years of relevant working experience in the subject area;

- Develop a training plan in land valuation and report to the Ministry of Natural Resources and Environment for monitoring and inspection during operation. The training plan shall include:

+ Duration and form of training, with at least 60% of total training hours being direct, focused learning;

+ Qualifications of the faculty team (including full-time lecturers and invited guest lecturers);

+ Curriculum and teaching materials developed based on the training framework issued by the Ministry of Natural Resources and Environment;

+ Examination questions for the completion of the training course.

- Institutions offering professional training must evaluate participants' progress, organize final examinations for completion of the course, issue Certificates of Completion, and keep records for at least 10 years.

Within 10 working days from the date of receiving a complete and valid application as specified in Clause 3, Article 36 Decree 71/2024/ND-CP, the Ministry of Natural Resources and Environment is responsible for publicizing training institutions that meet the conditions on the Ministry's portal or notifying in writing for those that do not meet the conditions. Furthermore, it is responsible for inspecting compliance with the regulations in Clause 3, Article 36 Decree 71/2024/ND-CP for professional training institutions in land valuation.

Provincial land management authorities are responsible for compiling lists of land valuation consulting organizations and valuators, reporting to the Ministry of Natural Resources and Environment for feedback before publicizing lists of qualified land valuation consulting practitioners on the Ministry's portal; monitoring compliance with land valuation consulting laws of valuation consulting organizations and valuators.

Decree 71/2024/ND-CP comes into effect in Vietnam from the effective date of the Land Law 2024, except for Article 37 of Decree 71/2024/ND-CP, which takes effect in Vietnam from June 27, 2024.

To Quoc Trinh

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE