To submit the draft of the Law on amendments to Law on Real Estate Business at the 5th session of the 15th National Assembly of Vietnam

Specifically, the Government of Vietnam assigned the Ministry of Construction to assume the prime responsibility for, and coordinate with the Ministry of Justice, the Government Office and relevant ministries and agencies:

Fully absorb the opinions of the Government members, continue to revise and complete the Law on Quality Assurance, and report it to the Prime Minister of Vietnam before submitting it to the 5th Session of the 15th National Assembly.

In addition, the Government of Vietnam requested to review and complete the draft Law on Real Estate Business (amended), for example as follows;

- Clarifying the principles of applying the Law on Real Estate Business in relation to relevant laws: The Civil Code, Law on Investment, Land Law, Law on Bidding, Law on Notarization... are consistent with the principles of law formulation and application in accordance with the Law on Promulgation of legislative documents.

- Harmoniously handling the relationship between the State, the market, and society on the principle that the State will not interfere if the market operates well, ensuring safe, healthy, and sustainable market development; at the same time, it is necessary to have appropriate and timely regulatory measures and tools of the State when necessary, ensuring social security and economic stability.

- Reviewing the legal provisions of the draft Law on: contracts, notarization, competence, procedures, conditions for real estate project transfer, etc.; ensuring consistency with legal regulations on notarization, civil, land, investment...

More details can be found in Vietnam's Resolution 27/NQ-CP dated 28/02/2023.

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