The 2013 Land Law (revised) officially came into effect on July 1,helping ensure transparency and democracy in land management.
According to Dao Trung Chinh, deputy head of the Land ManagementGeneral Department under the Ministry of Natural Resources andEnvironment, the new law covers several important changes that benefitland users.
He noted that the new law containsclear stipulations on land users’ rights to compensation andresettlement assistance. More importantly, the law provides on fairtreatment for both domestic and overseas Vietnamese citizens, as well asoffers equal opportunities for Vietnamese and foreign investors,enabling foreign investors to get involved in housing projects forresidence, lease or sale.
The new law also tightensthe land management and use, requiring property investors andbusinesses to have adequate economic capacity to ensure the effectiveuse of land.
Regarding land acquisitions, the lawstates that the activities must be done in a manner of transparency andaccountability and pay compensation in accordance with the laws.
In the case of delayed projects, the new law stipulates that the Statewill revoke land without compensation, if investors do not use the land24 months after their projects are licensed.-VNA