At the event (Photo: VNA) Hanoi (VNA) – A thematic session on acceleratinginstitutional reform – perfecting land policy for socio-economic recovery anddevelopment, as part of the 2022 Vietnam Socio-Economic Forum, opened in Hanoion September 18.
The event was co-hosted by the National Assembly Committee forEconomic Affairs, the Party Central Committee’s Economic Commission, the Ho ChiMinh National Academy of Politics and the Vietnam Academy of Social Sciences.
Speaking at the event, deputy head of the Party CentralCommittee’s Economic Commission Nguyen Thanh Phong said developing atransparent and convenient real estate market will bring opportunities to drawcapital at home and abroad, thus propelling socio-economic development.
Prof. Hoang Van Cuong, Vice Rector of the National EconomicsUniversity, said land price mechanism for real estate development must be inaccordance with the land market value. The selection of realty developers mustalso follow market mechanism.
The State must directly engage in land reclamation and compensationfor site clearance in its all approved projects, he said.
Meanwhile, former Deputy Minister of Natural Resources andEnvironment Prof. Dang Hung Vo highlighted a need to add definition of marketprice under international standard into the revised Law on Land.
He suggested further improve the reform of land use tax, realestate or asset taxes as well as allow controlled mortgages at foreignfinancial organisations.
Finance Minister Ho Duc Phoc said solutions to evaluate landprices should be reviewed to add into amendments to the Law on Land.
In the upcoming fourth meeting, the amended Law on Land will besubmitted to the legislature for consideration.
At another thematic session on policies in support of businessesand workers for sustainable development, a representative from the State Bank ofVietnam (SBV) said policies will be revised to step up the disbursement of 2%interest rate support package for enterprises.
Chairwoman of Deloitte Vietnam Ha Thu Thanh speaks at the event (Photo: VNA)
Chairwoman of Deloitte Vietnam Ha Thu Thanh said as most of the Vietnamesecompanies are small and medium-sized, they find it hard to access capital viacommercial banks. Their collateral assets have limited value so that the loansthey could obtain are not sufficient to expand operations.
UNDP Senior International Economist Jonathan Pincus speaks at the event (Photo: VNA)
To fix it, the SBV will set up an inter-sectoral working groupto take field trips to localities and answer their questions, hold moreconferences linking businesses and banks, and work closely with ministries andagencies to tackle difficulties./.
