Business

Revised Land Law expected to help draw investments from OVs

The revised Land Law, recently passed by the National Assembly, is expected to attract capital from overseas Vietnamese (OV) across the world, said Chief of the Office of the Vietnam-Japan Business Association (VJBA) Dang Thai Minh.
Revised Land Law expected to help draw investments from OVs ảnh 1Illustrative image (Photo: VNA)
Tokyo (VNA) – Therevised Land Law, recently passed by the National Assembly, is expected to attractcapital from overseas Vietnamese (OV) across the world, said Chiefof the Office of the Vietnam-Japan Business Association (VJBA) Dang ThaiMinh.

Talkingwith the Vietnam News Agency (VNA)'s resident correspondent in Tokyo, Minh expressed her optimism about the law's potential to facilitateinvestment opportunities in Vietnam's real estate sector. She viewed thischange as a reflection of the Government's commitment to attracting foreigncapital and resources, while simultaneously strengthening ties between OVs andtheir homeland.

Thisrevision also underscores the Vietnamese Party and State’s consistent policy ofconsidering OVs an inseparable part of the nation, she said.

Accordingto Minh, after the amended Land Law takes effect on January 1, 2025, Japanese enterprises would have favourableconditions to invest in factories and industrial zones in Vietnam. The Vietnamesefirms in Japan have also expressed their interest in investing inthe homeland.

Lookingahead, Minh foresaw a range of opportunities in the next 1-2 years for OVsto invest in the Vietnamese real estate market, buoyed by its anticipatedrecovery in the coming years.

The Land Law (revised) has 16 chapters and 260 articles. It will be effective from January 1, 2025, except for some particular articles.

Notably, it removes regulations on the Government's land price framework while stipulating principles, foundations, and methods of land pricing. Under the revised law, a land price list will be made on an annual basis. The land price list will be first announced and applied from January 1, 2026, and will be adjusted and supplemented from January 1 of the following year./.
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