The draft Law also
contains new stipulations that may help promote a healthy real
estate market and create a better business environment,
including:
Regular periodic
public announcement of State land-use plans and prices;
Land that is used
for infrastructure purposes in industrial zones will not be
charged a land-use fee;
More businesses will
be able to apply for land allocation from the State. The current
Law only allows businesses operating in infrastructure and
residential construction projects to be allocated land;
companies in other sectors must lease land. The revised draft
Law allows for businesses of all types to choose between
applying for land allocation [and paying a land-use fee] or
leasing land on an annual basis.
The revised Draft
Law allows foreigners and overseas Vietnamese who have invested
in Vietnam or who intend to reside long-term in Vietnam to
obtain land-use rights or lease rights on terms and conditions
that are almost on par with Vietnamese businesses.
The limits on the
amount of land for agricultural purposes that an individual or
company may lease (in excess of allocated land) are lifted in
the new draft Law. This new stipulation enables businesses and
individuals to operate large agricultural and farming
businesses.
Publisher: Dao Tuan Dung -
Director of BIZIC - VCCI
Office: 5th floor - International Trade Center - No. 9 Dao Duy
Anh Str., Hanoi
Tel: (84-4) 574 3084 - Fax: (84-4) 574 2773 - E-mail:
vcci@hn.vnn.vn