Vietnam reforms land law, expects better year ahead for troubled property market

[HO CHI MINH CITY] Vietnam’s National Assembly – the highest legislative body in the country – has voted overwhelmingly to pass long-delayed revisions to the Land Law, which covers key areas such as market-based land pricing and land revocations.

On Thursday (Jan 18), 432 out of 477 lawmakers voted in favour of the amendments on the third and final day of an extraordinary parliamentary session.

The amendments also cover major updates on other issues such as the granting of land-use rights through public tender, land auctions, and the digitalisation of land data.