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Summary

20 COVER STORY
BRINGING THE AMENDED

LAND LAW QUICKLY TO LIFE

T he amended Land Law was passed recently by the 10 ECONOMY - POLICY
National Assembly (NA) and is expected to
contribute to resolving many of the ongoing Positive signs in industrial
problems in land management and encourage future
development with new and breakthrough thinking and production in January
perspectives. The next important matter is to effectively
implement mechanisms and policies to bring the law to igures from the General Statistics Office of Vietnam
life and make land a truly important resource, promote F (GSO) show that although industrial production
land commercialization, and contribute to the country’s continued to see a decline in January compared to
socio-economic development. To quickly bring the Law December, it increased substantially compared to January
into life, the NA Chairman has requested that the 2023. The result was quite similar to last year, when declines
government allocate resources and immediately prepare were seen in the early months before returning to growth in
conditions to promulgate and implement specific plans. the closing months of the year. In particular, manufacturing
Developing guiding documents is the major task in the and processing was the main contributor to growth in the
implementation plan. According to experts, the Law entire industrial sector. Though there are positive signs,
features groundbreaking new points and will form an ministries and branches have forecast that the challenges will
important legal basis to resolve problems and difficulties linger into 2024. To achieve the targeted increase of 7-8 per cent
in the Land Law 2013 and implement relevant land against 2023, set by the Ministry of Industry and Trade, a great
procedures, in particular allowing for strong deal of support and facilitation is needed from the government,
decentralization and administrative reforms that ministries, branches, the banking system, and localities in
localities must implement in the time to come. taking more active measures to support industrial production.

22 COVER STORY
12 ECONOMY - POLICY
Positive impacts to come

from revised Land Law

A t the “Land Law 2024: Legal Foundation for the
New Development Phase of the Real Estate Market”
seminar, held on January 31 by a/b in
cooperation with the Center for Natural Resources and
Environment Communications at the Ministry of Natural
Resources and Environment (MoNRE), representatives
from the National Assembly (NA) and experts said the
amended Land Law contains many new points on
planning and land use plans; recovery; compensation, EXPORTS UP STRONGLY
support, and resettlement when the State recovers land;
land allocation, land lease, and permission to change land AS NEW YEAR GETS UNDERWAY
use purposes; land registration, the issuance of land use
rights certificates, and the ownership of assets attached mports and exports have “leaped forward” at the
to land; finance for land and land prices; the rights and I
obligations of land users; and the promotion of beginning of the new year, especially exports, which
are expected to continue to grow further in 2024.
decentralization in the State management of land. The According to data from the General Statistics Office of
new Law is expected to resolve legal problems to
Vietnam (GSO), total import and export turnover of
effectively exploit land resources, remove difficulties goods was estimated at $64.22 billion in January, an
facing businesses and projects, and contribute to helping
the real estate market develop in a transparent and increase of 37.7 per cent year-on-year, of which exports
rose 42 per cent and imports 33.3 per cent. The
sustainable direction.
preliminary trade surplus was estimated at $2.92 billion.
The agricultural sector made an impressive contribution,
especially agricultural commodities.

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