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VIEWPOINTS
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Other specific recommendations |
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With regard to land
administration and land allocation and leasing, I believe the
most business-friendly method would be a “one-stop shop”
operated by a consulting or service company under the Department
of Planning and Investment. Several provinces including Hung Yen
and Phu Tho have adopted this method, and it is quite convenient
for businesses. This idea should be replicated throughout the
country.
Mr. Le Anh Tu
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Through the Vietnam
Business Forum I have been involved in reviewing and making
recommendations on the draft Land Law to the Government of
Vietnam, and in general terms believe that the government has
made some progress in improving the system of land legislation
and the question of land administration. One recent specific
example is the introduction of Circular No. 03/2003/TTLB/BTP-BTNMT
jointly issued by the Ministry of Natural Resources and
Environment and the Ministry of Justice on July 4, 2003,
providing guidelines for the procedure and order for registering
and providing information about mortgages and guarantees by way
of land-use rights and/or assets attached to land. However,
there are a number of fundamental issues of serious concern to
investors that are not addressed by the revised draft Law. One
of the main problems in Vietnam lies in the inconsistent and
unpredictable application of the land law and its system of
implementing regulations, which creates a business environment
that is neither stable nor predictable. There are still too many
inconsistencies in policy that plague land matters, as well as
too many different ways to interpret and apply the various legal
documents concerning land in Vietnam. The position would be
improved dramatically if there were to be a more consistent and
coherent body of law on land issues, and a single government
agency in charge of land administration, unlike at present,
where many different agencies and organizations including the
Ministry of Natural Resources and Environment, People's
Committees in each locality, etc. have responsibility and
authority in land matters.
Mr. John Hickin
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The Draft Law lacks
a stipulation on a statute of limitations for the State's
land-use plans. Land plans are often announced but then not
implemented for a long time, which makes it difficult for
businesses and individuals who want to make investments to do so
confidently. The Draft Law needs to specifically address this
issue.
Mr. Le Quang Minh,
National Assembly Delegate Can Tho Province
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The revised draft
Land Law seems to have the immediate objective of cooling down
the land fever; this phenomenon on one hand is not ideal, but on
the other hand, it reflects the reality of the market. What is
most important is that this Law affects almost every type of
economic transaction, especially banking transactions.
Approximately 40% of Techcombank's transactions are related to
guarantee and mortgage of land-related rights and assets
attached to land; this figure could be even higher in other
banks. With the increasing development of new banking products
and services such as mortgage lending, this ratio is likely to
increase (elsewhere in the world, this ratio normally ranges
from 50-60%). Therefore, lawmakers should think carefully about
achieving an immediate objective at the expense of negatively
affecting the much more important and larger business
environment, or as we normally say, "killing the rat [but]
breaking the jar in the process." An unstable business
environment not only impacts foreign direct investment, but is
also very bad for local businesses.
In my opinion, from a banking perspective, the top three issues
that need immediate resolution in the legal framework pertaining
to land-related transactions are:
1) the unclear legal definition of land-ownership and land-use
rights, which results in the limited volume of land that can
legally be utilized in economic transactions;
2) the fact that implementation of laws and regulations are
poorly coordinated and inconsistent between ministries and
localities;
and 3) the implementation and enforcement of legal decisions is
poor and therefore fails to provide confidence and security,
especially for bankers and creditors. .
Mr. Nguyen Duc
Vinh
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