New Text Notification

To propose removing regulations on land price brackets from legislative documents in Vietnam

Trần Thanh Rin

16:20, 21/03/2023

The Government of Vietnam issued Resolution 37/NQ-CP on March 17, 2023 promulgated the Government's action plan to implement the Resolution 18-NQ/TW in 2022 on "Continuing to renovate and perfect institutions and policies, improve the effectiveness and efficiency of land management and use, creating a driving force to turn our country into a high-income developed country".

According to Vietnam's Resolution 37/NQ-CP, in order to improve the land price determination mechanism, the Government of Vietnam proposes to remove regulations on land price brackets from legal documents, have a mechanism and method for determining land prices according to market principles, and define the functions, tasks, and responsibilities of the agency in charge of land price determination.

In addition, a number of tasks and complete solutions are as follows:

- The Central Government shall develop criteria and procedures for inspecting and supervising localities in formulating land price lists.

- Provincial People's Councils decide, inspect, and supervise the implementation of land prices.

- Having an effective mechanism to improve the quality of land valuation, ensuring the independence of the land price appraisal council, the ability of the consulting organization to determine the land price, and the ability and ethics of appraisers.

- Supplement and complete regulations to ensure publicity and transparency, such as: publicizing land prices, forcing transactions through exchanges, strictly handling violations...

Vietnam's Resolution 37/NQ-CP takes effect from the date of signing.

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