The Land Law (revised), which expands land use rights for overseas Vietnamese (OVs) and Vietnamese citizens residing abroad, is expected to give a boost to the domestic real estate market.
The Land Law (revised) is expected to give a boost to the domestic real estate market.(Photo: VNA)
Washington D.C. (VNA) – The Land Law(revised), which expands land use rights for overseas Vietnamese (OVs) andVietnamese citizens residing abroad, is expected to give a boost to thedomestic real estate market.
Lieu Nguyen, global ambassador to Vietnam, Cambodia, and Indonesia from the US National Association of Realtors, saidthe legal document will help OVs and foreign investors feel secure aboutinvestment in the market.
Many elderly Vietnamese in the US share the wish tolive in their homeland after retirement and purchase property there, saidLieu, who works for Westgate Realty Group of the US.
Lieu Nguyen, global ambassador to Vietnam, Cambodia, and Indonesia from the US National Association of Realtors, in an interview with the Vietnam News Agency. (Photo: VNA)
She proposed Vietnam implement home resort projectsto serve not only OVs but also retired US and Japanese people who want to residein the Southeast Asian nation, adding the projects should include medicalservices and others for the elderly.
Lieu also held that the law will help spur thedomestic real estate market as well as Vietnam’s tourism and economy.
With 16 chapters and 260 articles, the revised LandLaw, passed at the 15th National Assembly (NA)’s 5th extraordinary session inJanuary 2024, will come into force from January 1, 2025, except for someparticular articles./.
The Land Law (revised), which expands land use rights for overseas Vietnamese (OV) and Vietnamese citizens residing abroad, meets the aspirations of OVs and contributes to mobilising investment resources to Vietnam at the same time, said Nguyen Duc Hieu, standing member of the National Assembly (NA) Economic Committee.
The Land Law (revised), which expands land use rights for overseas Vietnamese and Vietnamese citizens residing abroad, meets the aspirations of overseas Vietnamese and contributes to mobilising investment resources to Vietnam at the same time, according to experts.
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.
Overseas Vietnamese (OV) are thrilled to hear about new provisions in the Land Law (revised) passed recently by the National Assembly (NA), which demonstrates the attention of the Party, the State, the Government, and the NA in ensuring equal rights between OVs and Vietnamese citizens residing inside the country to purchase and own land use right and houses in their homeland, said Vietnamese Ambassador in Hungary Nguyen Thi Bich Thao.
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In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
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Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
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Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
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PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Land Law (revised) is expected to give a boost to the domestic real estate market.(Photo: VNA) 
Lieu Nguyen, global ambassador to Vietnam, Cambodia, and Indonesia from the US National Association of Realtors, in an interview with the Vietnam News Agency. (Photo: VNA) 
