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Revised land law to make real estate market more bustling

The Land Law (revised) passed in January by the National Assembly (NA) is a huge step forward that demonstrates the attention of the Party, the State, the Government, and the NA in protecting the rights of overseas Vietnamese (OVs) and Vietnamese citizens residing abroad, according to Dr. Phan Bich Thien, member of the Central Committee of the Vietnam Fatherland Front and Chairwoman of the Vietnamese Women's Association in Hungary.
Revised land law to make real estate market more bustling ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) - The Land Law (revised) passedin January by the National Assembly  (NA)is a huge step forward that demonstrates the attention of the Party, the State,the Government, and the NA in protecting the rights of overseas Vietnamese (OVs) and Vietnamese citizens residingabroad, according to Dr.Phan Bich Thien, member of the Central Committee of theVietnam Fatherland Front and Chairwoman of the Vietnamese Women's Associationin Hungary.

During the process of amending the land law, OVs themselves participatedmany times in conferences and seminars to collect opinions and recommendationson issues related to their rights and responsibilities, Thien said.

Revised land law to make real estate market more bustling ảnh 2 Dr. Phan Bich Thien, member of the Central Committee of the Vietnam Fatherland Front and Chairwoman of the Vietnamese Women's Association in Hungary. (Photo: VNA)
In the revised law, Vietnamese nationalsresiding abroad are completely equal to those living in the homeland inhaving the right to use land and own houses, she stressed, adding thatthis encourages them to pour more investment in real estate market in the homeland.

The investment to buy houses and land use right not only brings benefits to OVs but alsohelps increase the source of overseas remittances to the homeland, contributingto the country's development.

Thien expressed her hope that the NA and theGovernment will issue decrees and instructions to facilitate the implementationof the law.

She also proposed several issues related to implementing contracts of buying,selling, transferring, and inheriting land use right, saying that it is necessary tosimplify relevant administrative procedures to make it easier for OVS to own houses in Vietnam.

In the context of the idle realestate market as the supply is abundant, the revised land law is hoped to contributeto stimulating the demand from OVs, thus making the Vietnamese real estate market brighter and more bustling in the coming time, she went on./.
VNA
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