Land Law Implementing Guidelines to be Published
Back in February, the Office of the President announced the passage of the revised Law on Law, following a public consultation in February 2023 and ratification in the National Assembly (“NA”) in January 2024.
Set to enter into force on 1 January 2025, the revised law aims to improve land management in Vietnam. As we wrote last month, when the updated law was first published, the new legislation contains several important changes, some of which could impact foreign enterprise and international investors.
These include moving towards more ‘market-based’ land prices through the scrapping of the old ‘land price frame’ in favour of a new ‘land price table’, granting land-use rights to overseas Vietnamese, clarifying cases when land rent can be paid in a lump sum or annual installments, and more transparent state management of land.
New implementing guidelines
Now, the Prime Minister has issued a plan on the implementation of the new Law on Land. This plan requires relevant agencies to prepare and propose implementing guidelines to the government, such as draft circulars and decrees, to ensure the effective implementation of the new law once it enters into force.
In total, 16 implementing guidelines will be drafted. In particular, the Ministry of Natural Resources and Environment (“MONRE”) has been tasked with drafting six decrees and four circulars.
The remaining six regulations (three decrees, one decision, and two circulars) will come from the Ministries of Finance (“MOF”); Labour, Invalids, and Social Affairs (“MOLISA”); and Agriculture and Rural Development (“MARD”).
Speaking at a MONRE conference this month, Minister Dang Quoc Khanh also asked local authorities to raise awareness of and prepare for the revised Land Law among their own stakeholders and communities.
APFL Partners will continue to monitor these implementing guidelines and keep our readers and clients updated on their progress. For more information about the revised Land Law, or its possible implications for foreign enterprises and investors, just contact our team on: contact@apflpartners.com
Disclaimer: This article and its content are for information only and are not given as legal or professional advice. they do not necessarily reflect all relevant legal provisions with respect to the subject matter. Readers should seek legal or professional advice before taking or refraining to take any action.
