VIETNAM, May 20 -  

HÀ NỘI — New land laws in Việt Nam could take effect six months earlier than proposed, after the Vietnamese Government resolved on Friday to propose that the National Assembly put the Law on Land, the Law on Housing and the Law on Real Estate Business into force from July 1 instead of January 1, 2025.

Previously, the Ministry of Natural Resources and Environment proposed the new Law on Land to be put into effect six months earlier so that land resources can be unlocked, and land-related backlogs can be timely and thoroughly handled.

The early enforcement of the Law on Land will also help promote the development of the real estate market and improve land resource efficiency.

In addition, the amended land law, when put into force, will remove difficulties in land access for production and business, helping attract investment and promote socio-economic development.

According to the Ministry of Construction, the early enforcement of the Law on Housing and the Law on Real Estate Business will improve the legal framework for a sustainable and healthy development of the property market.

The seventh meeting of the National Assembly in May and June will consider the Government’s proposals regarding the early implementation of these three laws.

Relevant ministries are hastening to compile more than 20 decrees and circulars to guide the implementation of the laws.

The Law on Land No 31/2024/QH15 was passed on January 18.

The Law on Housing and the Law on Real Estate Business were passed in November 2023. — VNS