The Land Law (revised), which expands land use rights for overseas Vietnamese (OV) and Vietnamese citizens residing abroad, meets the aspirations of OVs and contributes to mobilising investment resources to Vietnam at the same time, said Nguyen Duc Hieu, standing member of the National Assembly (NA) Economic Committee.
Many Vietnamese in Laos have shared the belief that the amended Land Law, passed by the National Assembly earlier this year, will significantly contribute to national socio-economic development.
The expansion of land use rights for overseas Vietnamese (OV) in the recently passed 2024 Land Law is good news for OVs who want to own real estate in Vietnam, said experts from Savills Vietnam.
The amended Land Law which was passed at the 15th National Assembly’s fifth extraordinary session in mid-January is expected to provide a firm legal framework to enhance land management efficiency and create new momentum for Vietnam to become a high-income country by 2045.
Foreigners have the right to own houses for a set period, but land ownership is not permitted. Once their ownership duration concludes, they may renew it once and have the privilege to purchase and sell houses similarly to local residents.
VOV.VN - More than three million foreign individuals and organisations have purchased apartments in Vietnam, and the number is expected to continue rising moving forward, heard a workshop held on July 13 in Hanoi to examine the potential for development of the Vietnamese real estate market.
Land and water surface rents in 2022 will be reduced by 30% for lessees that were affected by the COVID-19 pandemic under a decision recently signed by Deputy Prime Minister Le Minh Khai.
A new building of the Lao Ministry of Industry and Commerce’s Department of SME Promotion, built with funding from the Vietnamese Association in Vientiane, was handed over to the Lao ministry on December 15.
Prime Minister Pham Minh Chinh has affirmed to the National Assembly that the Government and local administrations will continue to drastically implement set measures and tasks while fixing shortcomings so as to realise the year's targets to the highest possible level and create a driving force for next year.
The Hanoi People’s Court will reopen a trial for ex-minister of industry and trade Vu Huy Hoang and nine accomplices on April 22 for violations at the ministry and in Ho Chi Minh City that caused losses of over VND2.7 trillion (US$112.5 million).