Documents guiding implementation of Real Estate Business Law, Housing Law being drafted: Official
The Government has issued plans and lists of tasks to build documents guiding the implementation of the newly-approved Law on Real Estate Business and Law on Housing, said Deputy Minister of Construction (MoC) Nguyen Van Sinh.
At the Government’s regular press conference in Hanoi on April 3. (Photo: VNA)
Hanoi (VNA) – The Government has issued plans andlists of tasks to build documents guiding the implementation of thenewly-approved Law on Real Estate Business and Law on Housing, said DeputyMinister of Construction (MoC) Nguyen Van Sinh.
For the Law on Housing, the MoC has been assigned to buildthree decrees, one circular and one decision to detail the law, the officialsaid at the Government’s regular press conference in Hanoi on April 3.
Alongside, the Ministry of National Defence and the Ministry ofPublic Security were asked to build circulars detailing a number of articles ofthe law related to their authority.
For the Law on Real Estate Business, the MoC was requestedto build two decrees and one circular, while the Ministry of Finance was taskedto design a circular on the use of financial resources for the collection ofinformation and operations of the information system and database on housingand the real estate market, the price of information system and database supplyservices and the use of money from the services.
At the same time, the Government also asked localities to specifya number of regulations related to the Housing Law, and design regulations to supportinvestors in social housing development in their locality, said the official.
Sinh added that the MoC has established a draftingcommittee to build the documents, while making public the contents of the draftdocuments to gather ideas from people, businesses, ministries, sectors,localities, associations, and other relevant agencies.
The ministry has held many conferences in Hanoi and Ho ChiMinh City to discuss the documents, especially the decree on upgrading andrebuilding old apartment buildings, he said.
As scheduled, the ministry will send the draft documents tothe Ministry of Justice on April 20 for verification after competing them andsubmitting them to the Government for approval in May, said Sinh./.
Foreigners have the right to own houses for a set period, but land ownership is not permitted. Once their ownership duration concludes, they may renew it once and have the privilege to purchase and sell houses similarly to local residents.
The newly approved Land Law, Housing Law, and Law on Real Estate Business, which will take effect from 2025, are expected to create more favourable conditions for Overseas Vietnamese (OVs) in owning and trading real estate, according to experts.
The regulations related to overseas Vietnamese (OVs) in the revised laws on land, housing, and real estate business were disseminated to expatriate at a hybrid conference on March 26.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
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The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
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Lao Minister of Foreign Affairs Thongsavanh Phomvihane affirmed that the presence of Vietnamese press offices in Laos vividly demonstrates the great friendship, special solidarity, and comprehensive cooperation between the two nations, as the press is not only a means of communication but also an important bridge for spreading consciousness about the history, values, and strategic depth of the Laos – Vietnam relationship to the people of both countries and the international community.
The country is willing to participate in collective efforts to promote cooperation and mobilise resources to advance the current priority issues of developing countries, such as trade, investment, infrastructure connectivity, making the most of scientific and technological advances for development, and people-to-people exchanges, Hang said.
During the negotiations, the US highly evaluated Vietnam’s goodwill and efforts, affirmed its appreciation for the bilateral relationship, acknowledged Vietnam’s proposals and concerns, and considered these an important basis for continuing discussions and moving towards a final agreement.
The Chairman stressed the need for stricter fiscal discipline, faster digital transformation, and more efficient management of State budget revenues and expenditures.
At the Government’s regular press conference in Hanoi on April 3. (Photo: VNA) 
