Vietnam: To publicize projects and local land funds for investment

What is the direction from the Prime Minister of Vietnam regarding the investment for projects and land funds in the locality? - Tu Uyen (Thanh Hoa, Vietnam).

The Prime Minister of Vietnam issued Vietnam's Directive 13/CT-TTg dated August 29, 2022 on solutions to promote the safe, healthy, and sustainable development of the real estate market.

Vietnam: To publicize projects and local land funds for investment (Source: Internet)

To publicize projects and local land fundsl for investment

According to Vietnam's Directive 13/CT-TTg, the Prime Minister of Vietnam sets out tasks and solutions to promote the real estate market for the People's Committees of provinces and centrally-run cities, for example:

- Review and make a list of housing and real estate projects in the area; specific assessment of reasons and reasons for projects that have been approved for investment policies but have not yet been implemented or are delayed in implementation.

On that basis, focus on solving legal difficulties and preparing investment procedures for housing projects to increase supply for the market.

- Publicize the list of projects, land fund, and procedures for housing and real estate development in the area to call for investment; creating favorable conditions for domestic and foreign investors to easily access and participate in housing and real estate investment.

- Expeditiously organize the elaboration, appraisal, and approval of urban and rural construction plans, master plans, and plans on land use;

Public and transparent information about infrastructure development projects and real estate projects, particularly large projects, and the merger, establishment, and upgrading at the local administrative unit level, preventing the spread of rumors and speculation to drive up prices for illegal profiteering.

- Quickly develop a housing development program for the period from now to 2025 and 2030 and a 5-year and annual housing development plan in accordance with the Law on Housing, clearly defining a list of projects housing to serve as a basis for approving the investment policy of housing projects in the locality.

- Focus on directing and organizing the implementation of land allocation, selecting investors to implement real estate projects, and new housing projects to increase supply for the market.

- Step up the implementation of land use rights auctions; bidding for projects using land to select investors helps to increase the supply of commercial housing projects to the real estate market.

- Implement solutions to promote the development of social housing, housing for workers in the area.

- Expeditiously complete the quality assessment of the remaining old apartment buildings in the area to determine the apartment buildings to be demolished; soon prepare and approve the plan and list of projects on renovation and reconstruction of apartment buildings in accordance with the provisions of Decree 69/2021/ND-CP.

- Control, detect, prevent and strictly handle violations in the auction of land use rights in accordance with the law.

- Take measures to manage and prevent the division, "subdivision of plots, sale of plots" in areas where investment is not allowed, lack of infrastructure system; strengthen control over the operation of real estate trading floors, organizations, and individuals practicing real estate brokerage; correct the act of buying and selling hands-on, "sharply increasing prices" causing disturbances in real estate market information.

- Review projects that use land but are slow to implement, fallow, misuse, and waste land. On that basis, coordinate with relevant agencies to consider and guide the handling according to their competence and provisions of the land law and other relevant laws to put the land fund into effective use, develop orientations in accordance with the actual needs of society.

- Closely and timely monitor, grasp information and developments of the market; implement timely handling measures to stabilize the market, prevent price fever and real estate "bubbles" in the area.

- Strengthen inspection and inspection, and strictly handle violations of the law on real estate business, the law on land, the law on construction, and other relevant laws (if any).

More details can be found in Vietnam's Directive 13/CT-TTg dated August 29, 2022.

Nhu Mai


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