Articles
Proposal for amendment of Law on Investment 2020 with regards to article related to types of land using for commercial residential housing projects

21/09/2021
 

In implementation of the Prime Minister’s direction under Official Letter No. 6505/VPCP- PL dated 15 September 2021 (OL 6505), the Ministry of Planning and Investment has just issued Official Letter No. 6278/BKHDT-PC dated 17 September 2021 (OL 6278). One of the remarkable points under this OL 6278 is the proposal for amendment of Article 75.1(c) of the Law on Investment 2020 (LoI 2020) providing the amendment of Article 23.1 of the Law on Residential Housing 2014 (LoRH 2014).

Accordingly, types of land using for implementation of project for construction of commercial residential housing as currently provided for under LoI 2020 and as proposed under the OL 6278 are as below:

Article Amended under Article 75.1 (c) of LoI 2020 Proposed under OL 6278
23.1 of LoRH 2014 Having the lawful right to use the residential land and the other types of land for which the competent State agency permits conversion of land use purpose to residential land. Having the right to use the residential land or other types of land in accordance with the master plans and plans on land use approved by competent State agency in accordance with the land law.

OL 6278 is under the evaluation by the Ministry of Justice before executing under the PM’s authorization and “submitting on behalf of the Government to the National Assembly for approval at the 2nd Session of the XV National Assembly” as directed under OL 6505.

This amendment if approved is expected to be able to remove major bottlenecks for commercial housing projects when businesses only need to have the lawful right of land of any types “in accordance with the master plans and plans on land use” to be recognized as property developers.

Authors

Le Nguyen Huy Thuy




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