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 Management General Department under the Ministry of Natural Resources and Environment, the new law covers several important changes that benefit land users.

He noted that the new law contains clear stipulations on land users’ rights to compensation and resettlement assistance. More importantly, the law provides on fair treatment for both domestic and overseas Vietnamese citizens, as well as offers equal opportunities for Vietnamese and foreign investors, enabling foreign investors to get involved in housing projects for residence, lease or sale.

The new law also tightens the land management and use, requiring property investors and businesses to have adequate economic capacity to ensure the effective use of land.

Regarding land acquisitions, the law states that the activities must be done in a manner of transparency and accountability and pay compensation in accordance with the laws.

In the case of delayed projects, the new law stipulates that the State will revoke land without compensation, if investors do not use the land 24 months after their projects are licensed.-VNA