Land Law expected to take effect from August 1

Deputy Prime Minister Tran Hong Ha has just signed Official Dispatch No. 53/CD-TTg of the Prime Minister on speeding up the progress of developing and promulgating documents detailing the implementation of the Land Law, Housing Law, Real Estate Business Law and Law on Credit Institutions.

Accordingly, the Government requested these leaders to direct the acceleration of the construction and issuance of documents providing detailed guidance on the revised Law on Land, Housing, and Real Estate Business and the revised Law on Credit Institutions. Localities need to complete this work in June.

The process of drafting and promulgating requires close coordination with relevant ministries and branches to ensure consistency and uniformity of legal documents.

According to the Official Dispatch, the expected time for these laws to take effect is from August 1, 2024.

The telegram also requested that the Government Office monitor and urge localities to implement this telegram, promptly report to the Prime Minister any problems and difficulties in the implementation process.

Previously, according to the proposal of the Ministry of Natural Resources and Environment, the Land Law is expected to take effect from July 1, 2024 instead of January 1, 2025 as prescribed.

The purpose is to bring the Land Law into practice soon, to free up land resources, to promptly resolve and completely handle land backlogs. In addition, to support and promote the development of the real estate market, to promote potential, and to make the most effective use of the value of land resources.

At the same time, it helps to remove difficulties in accessing land for production and business, attract investment, and contribute greatly to the completion of the set socio-economic development goals and targets, social stability, and practical benefits for the people.