Sign up | Log in



Home  >>   Daily News  >>ฺVietnam>>Investment>> Calls for new property investment law
NEWS UPDATES Asean Affairs     September  20,  2016  

Calls for new property investment law

Vietnam:Real estate associations have proposed amending the Law on Land and the Law on Trading Real Estate to create favourable conditions for investors in property investment.

Le Hoang Chau, chairman of HCM City Real Estate Association (HoREA), said the association proposed amending the two laws to permit enterprises to sell full or part of a property project after finishing site clearance for the project. The laws should consider the transfer as normal activities in the process of investing and trading property projects.

Chau said investing in a real estate project had many stages. The transfer of a project was an activity among investors but selling apartments to home buyers was not.

If investors selling projects did not complete administrative procedures or stages of investment, the investors buying the projects would complete those works, he said.

Phan Xuan Can, chairman of Soho Viet Nam Real Estate Joint Stock Company, said at present, activities transferring property projects were being implemented according to the Decree 76/2015/N?-CP and some regulations of the Law on Trading Real Estate 2014.

Under the regulations, the transferred part or full project must have detailed plan at a scale of 1:500 or approved master plan, complete compensation and site clearance, and have land use certificate for the transferred part or full project.

If the proposal was approved, this would be great for transferring property projects, Can said. This would open opportunities in transferring projects that have approved investment plans but have not finished site clearance. New investors could finish the project instead of the State giving the project to other investors.

In addition, total value of transferring activities for property projects was expected to exceed the figure of US$5 billion in 2015, C?n said.

The Viet Nam Chamber of Commerce and Industry (VCCI) also proposed the Government abolish Article 171 of the Law on Housing about approving investment plans for project building.

Tran Ngoc Quang, general secretary of Viet Nam Real Estate Association, said the association supported the proposals from the HoREA and the VCCI and proposed the Government and National Assembly amend some regulations in the Law on Land 2013 to create transparency in land allocation and lease of land.


In other developments, JLL Viet Nam, a foreign property service provider, reported that Viet Nam’s real estate market transparency improved but more efforts were needed.

Trang Le, Manager, Research and Consulting, JLL Vietnam said according to JLL’s 2016 GRETI report, Viet Nam is classified as a country with low-transparency (ranked 68 out of 109 countries).

However, the market has shown signs of improvement during the past two years. In 2014, Viet Nam was classified as a country with low-transparency and in 2016 the country is considered “on the cusp of semi-transparent”.

Improvement in the real estate market was seen in various aspects, from clearer provincial planning information, investment procedures and better project information provided to buyers and tenants, Trang said.

According to the World Bank, despite improvement in land information disclosure, Vietnam must improve further. In July 2015, the World Bank approved the $150 million Viet Nam improved Land governance and Database project. The project will develop an information system and land database and make it available to both the Government and the public.

This credit package would help speed up reforming the land monitoring processes, investment procedures as well as providing project information that would enhance the investment climate, she said.

Project information transparency had improved in the residential market. In recent years, numerous transparency regulations had been implemented. "However, there is still a lack of concrete regulations to ensure the accuracy of disclosed information," she said.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                          September 20, 2016 Subsribe Now !
• Five most wanted stocks for foreign investors Subcribe: Asean Affairs Global Magazine
• Calls for new property investment law
• Efficient transport system needed to promote tourism sector
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Japanese companies invest over US$258 million in Thilawa SE
• MSMEs, youth entrepreneurs need more support to compete under AEC
Asean Analysis                  September 16, 2016
• Asean Analysis  September 16, 2016
Cambodia’s Hun Sen Picks Off the Opposition, One by One, Ahead of Elections
Advertise Your Brand

Asean Stock Watch   September 19 , 2016

• Asean Stock Watch-September 19, 2016
The Biweekly Update
• The Biweekly Update  September 16, 2016

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2019 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand