The Ministry of Agriculture and Environment is currently seeking public feedback on the draft amended Land Law, which introduces various revised provisions aimed at refining the legal framework for land administration and utilization. One notable highlight is the establishment of a land valuation mechanism that aligns with market dynamics, alongside enhanced data transparency to minimize pricing discrepancies and mitigate market manipulation practices.
Table of Contents
1. Refining Land Management Policies
According to the draft, the amendment of the Land Law aims to update new guidelines and policies while addressing challenges that have emerged during the implementation of the 2024 Land Law. The amended provisions are also designed to ensure consistency with existing legal frameworks and the new management models of local authorities.
The contents circulated for consultation focus on several key policy groups, including:
Land use planning and land use plans.
Land allocation, land leasing, and conversion of land use purposes.
Land recovery, compensation, support, and resettlement.
Land financial mechanisms and land valuation methods.
Rights and obligations of land users.
Administrative procedure reform and digital transformation in land administration.
Inspection, examination, and handling of related violations.
2. Aligning Land Valuation with Market Realities
One of the most notable areas of interest is the proposal to innovate land valuation methods. Under the draft's orientation, land prices will be established based on a comprehensive database that closely reflects market dynamics, rather than relying solely on traditional approaches.
The development of a synchronized land database integrated with sectors such as taxation, notarization, banking, and the real estate market is expected to assist regulatory agencies in improving valuation accuracy. Simultaneously, this initiative aims to minimize pricing discrepancies and enhance transparency.
3. Enhancing Decentralization While Ensuring Oversight
The draft also seeks to clarify the responsibilities of each administrative level in the land valuation process. Accordingly, central authorities will promulgate general criteria, methodologies, and oversight mechanisms, while local authorities will be responsible for executing land pricing decisions tailored to their actual local conditions.
In addition, land financial policies are being researched to ensure a harmonization of interests among the State, citizens, and investors. The draft further supplements suitable mechanisms for specific project types, such as rental housing or urban development integrated with transport infrastructure.
4. Continuing Consultation Prior to Finalizing the Draft
Currently, the draft amended Land Law remains in the consultation phase, gathering feedback from ministries, sectors, localities, associations, and relevant organizations before being synthesized, finalized, and submitted to competent authorities for review.
The amendment of the law is anticipated to contribute to perfecting the legal framework for land administration, optimizing the efficiency of land resource utilization, and establishing a solid foundation for the sustainable development of the real estate market moving forward.
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