Report to the Prime Minister on the establishment of job and real estate trading floors

The Government Office has just issued Notice No. 354/TB-VPCP (dated August 26, 2023) concluding the Deputy Prime Minister'sPrime ministerGovernment Tran Hong Ha at the meeting on the establishment of trading floors: Employment, technology, real estate transactions and land use rights transactions.

The conclusion announcement clearly stated that the current reality is that the real estate market, land use rights, employment and science and technology are forming and tending to develop strongly on the basis of information technology and digital transformation. The formation and development of these transactions are consistent with the current development trend of countries in the region and in the world.

However, trading activitiesreal estate, land use rights, employment and science and technology only partially meet market demand; there is no specific, strict, unified and synchronous legal basis for application, development and management to ensure effective, public and transparent operation of these transactions.

In order for the real estate market, land use rights, employment and science and technology to operate openly and transparently, minimize risks, simplify administrative procedures, reduce costs and inconvenience for people and businesses, promote digital transformation, specifically promote the development and effective operation of the above-mentioned trading floor system, the Deputy Prime Minister requested the ministries of Construction, Natural Resources and Environment, Labor - Invalids and Social Affairs, Science and Technology, within the scope and management functions of the Ministry to complete the report, in which a thorough assessment of the political and legal basis, current situation, practical experience and solutions for application, development and management of real estate transactions (including real estate as land use rights), employment and science and technology is appropriate to the scope of the industry and management field; Propose to develop legal documents in a suitable form to serve as a basis for developing, applying and managing real estate transactions (including real estate as land use rights), employment, science and technology in accordance with practice and relevant legal provisions,reportPrime Minister before September 8, 2023.