The amended Land Law and amended Law on Credit Institutions were officially passed on January 18, as part of the 15th National Assembly (NA)’s ongoing 5th extraordinary session.
The result of voting to pass the amended Land Law is shown on screen at the meeting. (Photo: VNA)
Hanoi (VNA) - The amended Land Law and amended Law on Credit Institutions were officially passed on January 18, as part of the 15th National Assembly (NA)’s ongoing 5th extraordinary session.
The revised land law saw 432 out of the 477 NA deputies voting in favour, or 87.63% of the total deputies.
Consisting of 16 chapters and 260 articles, this law specifies the land ownership regime, rights, and responsibilities of the state representing the collective ownership of the people over land. It also addresses unified land management, land use and management regimes, as well as the rights and obligations of citizens and land users regarding land within the country’s territory.
The amended law, except for some of its specific provisions, will come into force on January 1, 2025.
According to Chairman of the NA Economic Committee Vu Hong Thanh, the project holds special importance in the nations’ political, economic, social, defence, security, and environmental aspects. Largely affecting people from all walks of life and business communities, it is a complex and challenging one.
Before being approved, it was presented to the NA at four sessions, two conferences of full-time deputies, and eight official meetings of the Standing Committee. It underwent adjustments and incorporated the opinions of agencies, organisations, experts, scientists, and more than 12 million public opinions.
Lawmakers make their votes at the meeting (Photo: VNA)
Meanwhile, the amended Law on Credit Institutions sailed through the legislature with 450 yes votes, or 91.28% of the total NA deputies.
The law, comprising 15 chapters and 210 articles, will be effective from July 1 this year.
It outlines provisions regarding credit institutions’ establishment, organisation, operation, early intervention, special control, restructuring, dissolution, and bankruptcy. It also addresses the establishment, organisation, operation, early intervention, dissolution, and termination of activities of branches of foreign banks.
Additionally, the law covers the establishment and operation of representative offices in Vietnam of foreign credit institutions and other foreign organisations engaged in banking activities. It further regulates the handling of bad debts and collateral assets of bad debts held by credit institutions, branches of foreign banks, and organisations fully owned by the State with the functions of buying, selling, and handling debts./.
The 29th session of the National Assembly (NA) Standing Committee will take place for one and a half day, starting January 8, according to the NA Office.
The National Assembly (NA) will consider the approval of the draft amended Land Law and the draft amended Law on Credit Institutions – the two extremely important bills – at its fifth extraordinary session scheduled to take place next week.
Chairman of the National Assembly (NA) Vuong Dinh Hue asked legislators to thoroughly scrutinise the draft revised land law so as to ensure its highest quality, while delivering opening remarks at the fifth extraordinary meeting of the 15th legislature on January 15.
The Government proposed two options to pilot a mechanism to decentralise the management and implementation of national target programmes to district-level administrations at the fifth extraordinary session of the 15th National Assembly on January 16.
The 15th National Assembly (NA) continued its fifth extraordinary meeting on January 16, during which the Government proposed to the National Assembly an additional allocation of more than 63.72 trillion VND (2.59 billion USD) for the mid-term public investment plan from the central budget for the 2021-2025 period.
As part of the ASEAN Day celebrations, the Vietnamese embassy will also host the ASEAN Family Day 2025 in Ottawa to foster solidarity and community spirit among ASEAN members in Canada.
State President Luong Cuong’s trip once again reaffirmed the Party and State’s foreign policy of independence, self-reliance, diversification and multilateralisation of relations. It also reflected the strong trend of enhanced cooperation among countries of the Global South in shaping a new, more multipolar, fair and equitable world order.
The outcomes of Party General Secretary To Lam's visit will serve as a driving force and source of inspiration for the two countries to inherit, promote, and elevate their Comprehensive Strategic Partnership, contributing to the national construction and development cause in each country, and to peace, cooperation, and development in the region and the world.
Prime Minister Pham Minh Chinh on August 9 inspected the construction site of the new Phong Chau bridge, and surveyed a planned route for the Lao Cai – Hanoi – Hai Phong railway section running through the northern province of Phu Tho.
Across print, broadcast, and online platforms, Angolan media portrayed State President Luong Cuong's visit as a warm and historic occasion, strengthening bilateral ties and boosting Vietnam’s presence in Africa through the AU.
The 500kV Lao Cai – Vinh Yen power transmission line has a total investment of over 7.41 trillion VND (282.5 million USD), and a total length of 229.5 km, passing through 31 communes in the two provinces, and comprising 468 transmission tower foundations.
The visits reflected the elevated position of Vietnam’s foreign policy in the new era—aimed at not only advancing ties with key regional partners like Egypt and Angola but also delivering a strategic message about Vietnam’s commitment to deepening relations with African nations as a whole.
At their talks and meetings, President Cuong and Angola’s top leaders affirmed that the close brotherhood and traditional friendship are a valuable shared asset and a solid foundation for the two nations to advance into a new phase of development.
The ruling People’s Movement for the Liberation of Angola (MPLA) attaches great importance to the friendship, solidarity, and comradeship with the Communist Party of Vietnam, and voiced her Party’s wish to further deepen and expand relations between the two sides for the benefit of the Vietnamese and Angolan people.
Vietnam pledges to do its utmost to build an ASEAN of solidarity, consensus, and unity in diversity, and to foster a fast and sustainable development path for ASEAN, grounded in science, technology, and innovation, said Prime Minister Pham Minh Chinh.
Party General Secretary To Lam called on the criminal police force to accelerate the application of science, technology, artificial intelligence, and digital transformation in criminal investigation tasks such as crime prevention, detection, tracking and verification, ensuring that no area remains out of their reach.
Many Koreans living, studying, and working in Hanoi see the upcoming state visit to the Republic of Korea (RoK) by Party General Secretary To Lam as an opportunity to generate strong synergy in economic cooperation, people-to-people exchanges, and cultural understanding.
The achievements of the five decades of Vietnam–Angola cooperation provide a strong and enduring foundation, as well as momentum for the two sides to consolidate, expand, and bring their partnership into a new phase of development.
Prime Minister Pham Minh Chinh stressed that the emulation and commendation work is a vital driver, fostering patriotism, dedication, and collective momentum in the run-up to the 11th National Patriotic Emulation Congress, Party congresses at all levels, and the 14th National Party Congress.
Emphasising the need for sustainable, long-term collaboration, National Assembly Chairman Tran Thanh Man called on Japanese investors not only to bring in capital but also to share expertise and modern technology, especially in areas such as green transformation, the circular economy, and advanced corporate governance.
President Luong Cuong's activities during his state visit to Angola, the celebration of the financial sector's 80th traditional day, and the Foreign Ministry's flag-hoisting ceremony marking the 58th founding anniversary of ASEAN are among news highlights on August 8.
Vietnamese Ambassador to Thailand Pham Viet Hung praised the Thai Ministry of Foreign Affairs’ meaningful initiative, noting that the ASEAN Family Run was not only a sporting activity but also an opportunity for diplomats and their families to show unity, connection, and solidarity within the ASEAN family.
Politburo member, Prime Minister Pham Minh Chinh on August 8 attended the first congress of the Party Organisation of Tay Ho ward of Hanoi for the 2025–2030 term, during which he called for fresh momentum to turn the ward into a model that takes the lead in all fields.
The size of the economy increased from over 5 billion USD in 1986 to over 476 billion USD by 2024, making Vietnam the fourth-largest economy in Southeast Asia and the 34th largest in the world.
The ASEAN flag-hoisting ceremony is observed by the 10 ASEAN member countries on August 8 every year, aiming to spread and promote the ASEAN identity and affirm the determination to unite and cooperate for the common aspiration of long-term peace and prosperity of Southeast Asian countries under the common roof of the ASEAN Community.
The result of voting to pass the amended Land Law is shown on screen at the meeting. (Photo: VNA) 
Lawmakers make their votes at the meeting (Photo: VNA) 
