Illustrative image. (Photo: VNA)

Hanoi (VNA) – Japan shared its experience in land pricing and land appraisal to authority of Vietnam during a workshop in Hanoi on June 8.

The event was co-organised by the General Department of Land Administration (GDLA) at the Ministry of Natural Resource and Environment, Japan’s Ministry of Land, Infrastructure, Transport and Tourism (MLIT) and the Japan Association of Real Estate Appraisers (JAREA) to help Vietnam improve land-related policies and land management capacity.

Speaking at the workshop, GDLA Deputy Director Dao Trung Chinh said shortcomings have remained to hinder the government’s efforts in land administration, such as land appraisal methods unsuitable to reality and lack of transparent information in land prices as well as a database for real estate market prices.

Meanwhile, state appraisers’ limited capability have also affected credibility of land valuation and make it longer, he added.

Chinh noted that the event is important to Vietnam as it provided the country an opportunity to learn from Japan’s practices in the matter.

During the event, Japanese speakers gave attendees an overview of the country’s systems for land valuation and land price announcement, and land appraisal to evaluate fixed property taxes.-VNA