Vietnamese
The National Assembly on June 29 passed the Law Amending and Supplementing a Number of Articles of Land Law 31/2024/QH15, Housing Law 27/2023/QH15, Law 29/2023/QH15 on Real Estate Business, and Law 32/2024/QH15 on Credit Institutions.
The National Assembly on June 29 passed the Law Amending and Supplementing a Number of Articles of Land Law 31/2024/QH15, Housing Law 27/2023/QH15, Law 29/2023/QH15 on Real Estate Business, and Law 32/2024/QH15 on Credit Institutions (the Law).
Consisting of five articles, the Law amends Article 252.1 of the Land Law, Article 197.1 of the Housing Law, and Article 82.1 of the Law on Real Estate Business, saying that these three laws are set to take effect on August 1 this year, five months earlier than their effective date previously resolved by the National Assembly.
The Law also makes amendments to Article 209.2 of the Law on Credit Institutions, permitting its Articles 200.3 and 210.15 to take effect right from August 1, instead of July 1 next year.
Revising Article 251.2 of the 2024 Land Law, the Law says, that the National Assembly’s Resolution 132/2020/QH14 dated November 17, 2020, on pilot implementation of many policies to remove obstacles and backlogs in the management and use of land for national defense and security purposes combined with production and economic development activities, will be annulled from January 1, 2025.
At the same time, Article 255.10 of the Land Law is also revised. Specifically, for investment projects in the case of land allocation or land lease not through auction of land use rights in accordance with the 2013 Land Law and other relevant laws which are implemented in conformity with land use master plans and plans but for which land has not yet been allocated or leased, they are permitted to follow the subsequent steps in the process of land allocation or land lease. This aims to ensure allocation or lease of land to investors/project owners for projects for which investors/project owners have been selected under relevant laws in the period from July 1, 2014, to before the effective date of the Law; and projects for which the investors have submitted valid dossiers to be selected as investors/project owners before August 1, 2024, and investors/project owners have been selected before January 1, 2025.
By: VLLF
