NA passes amended Land Law

January 18, 2024

HCMC – The National Assembly (NA) this morning, January 18, passed the amended Land Law, with 87.63% of the NA deputies present at the ongoing session voting in favor. However, the law stipulates that in the case of leasing land for annual payments, the land user has the right to mortgage only assets owned by them attached to the land. Moreover, if PNUs leasing land annually from the State have the same rights as economic organizations leasing land annually, it would create inequality between PNUs and businesses. Regarding land prices, Thanh said that the draft law specifies the annual issuance of land price lists to ensure close alignment with market realities and expand the scope of land price application. According to Thanh, the draft Land Law amendment presented to the NA at this session stipulates that commercial housing projects can be implemented through agreements on land use rights for residential land; using existing land use rights to implement commercial housing projects on residential land or other types of land.

The source of this news is from The Saigon Times