On the afternoon of June 13, during a discussion session, the National Assembly Standing Committee emphasized the importance of clear control solutions in addressing risks and challenges. The Vice Chairman of the National Assembly, Nguyen Duc Hai, highlighted this point of view, calling for the Government to avoid catering to group interests when implementing the Law on Land, Housing, and Real Estate Business on August 1.
According to the Government’s proposal, three laws related to the real estate market will take effect earlier than planned on August 1. The Government believes that this early implementation will help free up resources and land value while meeting localities’, businesses’, and public needs. However, concerns have been raised by the National Assembly’s Economic Committee about the impact of these amendments due to their complexity and significant implications for new contents in the laws. Additionally, there is a lack of evaluation of positive and negative impacts on the socio-economic situation as well as clear conditions for law enforcement.
In response to these concerns, the Government has assured that ministries have reviewed transitional regulations and are preparing detailed regulatory documents to ensure smooth implementation when these laws take effect in August. Localities and businesses are eagerly looking forward to implementing these laws to address issues related to land use rights, site clearance, and real estate transactions.
Overall, both the Government and National Assembly are working diligently towards effective enforcement of these laws while taking into account stakeholders’ interests and avoiding conflicts of interest. The focus is on creating a transparent legal framework that will benefit both the real estate market and society as a whole.
