Leaders of the Ministry of Natural Resources and Environment shared decrees and circulars related to the amended Land Law that have been developed in the process of making laws. The effective period will be at the same time as the Land Law.
From August 1, if approved by the National Assembly, new laws including the amended Land Law, the Law on Real Estate Business, the Law on Housing and the Law on Credit will officially take effect. This is accelerated to take effect 5 months earlier than originally planned.
At the seminar organized by Tien Phong newspaper this morning (28/6), Mr. Hoang Hai – Director of the Department of Housing and Real Estate Market Management (Ministry of Construction) – said that there has never been a consensus of central and local agencies like today, showing determination in promulgating policies to remove difficulties.
All for the goal of supporting businesses, creating conditions for projects to be implemented, promoting capital flows and healthy development of the market; directly and directly affecting housing, real estate, land, and credit projects.
If from August 1, the Land Law takes effect, when will the decrees and guiding circulars be passed so that the law will soon come into practice? Mr. Nguyen Dac Nhan – Deputy Director of the Land Department, Ministry of Natural Resources and Environment (MONRE) – said that the ministry’s leaders are “very drastic” to develop detailed regulatory documents as well as guidelines for the implementation of the Land Law 2024 5 months earlier than expected.
Mr. Nhan shared that the process of developing Decrees and Circulars accompanies the process of developing Laws. When the Ministry of Natural Resources and Environment submits the Land Law to the Government for the Government to submit to the National Assembly, the draft implementation documents are ready.
According to him, the Standing Committee of the Government also met at the end of May and agreed to promulgate according to the simplified process for these Decrees. According to the old regulations, the Decree after being signed and approved will take effect after 45 days. But for these decrees, the effective time is immediate, enforced together with the Land Law.
For the Law on Real Estate Business and the Law on Housing, Mr. Hoang Hai said that the decrees and guiding circulars will be promptly met on time as required before June 30.
Speaking at the workshop, Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HoREA) expressed his belief and expectation when the Government and ministries and agencies synchronized and agreed to remove legal obstacles through the simultaneous promulgation of 4 laws related to real estate.
Mr. Chau said that although there is a delay in policies, delays from laws to decrees and circulars, when obstacles are removed, the market will have projects, supply will increase, social housing will be built, house prices will return to a reasonable state… then the market will automatically adjust sustainably.
The Chairman of HoREA also added that the trend of the real estate market shifting to green, environmentally friendly real estate, health real estate, utility integration… To achieve that shift, the market needs to have a synchronous and unified legal foundation.
He believes that the real estate market still has many difficulties, but the difficulties will gradually decrease and the market will recover along with the improvement of the investment and business environment. Businesses no longer seek profits simply on their side but always accompany investors and customers.
