Early establishment of National Real Estate Exchange, National Employment Exchange

Deputy Prime Minister Tran Hong Ha speaks at the meeting

On the afternoon of August 21, in Hanoi, Deputy Prime Minister Tran Hong Ha chaired a meeting with ministries and branches on the proposal to build trading floors for jobs, real estate and land use rights.

Promoting the online job exchange model

Reporting to Deputy Prime Minister and Deputy Minister of Labor, War Invalids and Social Affairs Le Van Thanh, the country currently has 82 public employment service centers and about 500 private employment service enterprises to connect supply and demand in the labor market.

However, current laws do not have unified regulations on the names and contents of job transactions through direct and online trading floors.

Facilities and information technology infrastructure are still lacking and outdated. Training and capacity building activities for staff and employees in employment services have not received adequate attention and investment.

The job database is still scattered and unsynchronized, and there is no mechanism for coordination, sharing, and connection of information between centers and businesses providing job services.

The work of inspecting and supervising transparency, quality and efficiency in employment transactions still has many limitations.

Deputy Minister Le Van Thanh said that legal basis, science, practice, and international experience show the necessity of forming a national online job exchange connected with existing online exchanges.

Deputy Minister of Labor, War Invalids and Social Affairs Le Van Thanh speaks

The Ministry of Labor, War Invalids and Social Affairs recommends developing and promulgating regulations on standardization in collecting and updating information and employment data nationwide as a basis for organizing activities of job exchanges and sharing and connecting information on public and private employment services; strengthening inspection and supervision of job transaction activities, especially in cyberspace.

Regarding this content, Deputy Prime Minister Tran Hong Ha said that in the coming time, the labor market needs a National Employment Exchange to carry out the state's management responsibility for labor resources and users for both the public and private sectors; connect job information in areas that businesses have not covered; encourage business employment exchanges.

The Ministry of Labor, War Invalids and Social Affairs needs to coordinate with ministries and sectors to standardize data and connect public and private job centers and exchanges so that ministries, sectors, localities, businesses and workers nationwide can have full and convenient access.

“We must further promote the online job exchange model, and have solutions so that foreign labor brokerage centers can also participate, thereby ensuring the rights and benefits of exported workers,” said the Deputy Prime Minister.

Standardize businesses and goods traded on the floor

Regarding the issue of real estate trading floors and land use rights, Deputy Minister of Construction Nguyen Van Sinh said that by the end of 2020, the country had over 1,600 real estate trading floors, contributing to limiting informal transactions, preventing tax losses, and providing information on the real estate market to state management agencies.

However, current law stipulates that real estate business organizations and individuals are not required to go through real estate trading floors when selling, leasing, or leasing real estate, which has affected the real estate market, state management, and people.

Regulations on conditions for establishing real estate trading floors still have many shortcomings, leading to difficulties in state management, creating loopholes for real estate trading floors to circumvent the law to conduct business.

The Ministry of Construction proposes to continue to improve and maintain the operation of real estate trading floors by adding more types of real estate that must be traded through the floor to ensure the rights and interests of the people; prevent tax losses; create a healthy and transparent investment and business environment; and form a state information management tool to issue policies to promptly regulate the real estate market to develop healthily and stably.

Regarding land use rights trading activities, Deputy Minister of Natural Resources and Environment Le Minh Ngan said that the land use rights market has been formed but its operations are unstable, lack transparency, are not sustainable, and are not connected with other production markets.

Deputy Minister of Natural Resources and Environment Le Minh Ngan speaks

The information system on the land use rights market is incomplete, leading to difficulties in accessing land resources for investors; there is no mechanism or policy to fully collect data and information on actual land transaction prices on the market to serve the state management of land prices.

“The establishment of a model for real estate trading floors, including transactions on land use rights, is necessary and urgent, and at the same time moves towards synchronizing national governance,” said Deputy Minister Le Minh Ngan.

Concluding this content, Deputy Prime Minister Tran Hong Ha stated the need to form a National Real Estate and Land Use Rights Exchange, applicable to both public and private assets, as well as creating conditions for private exchanges to develop healthily.

Ministries and sectors need to research, develop and promulgate legal documents regulating the position and relationship between public and private real estate trading floors; regulations and standards of enterprises and goods participating in transactions on the floors; organizational structure, operating mechanism and responsibilities of trading floors towards enterprises and goods traded on the floors; mechanisms for connecting information and data between trading floors...

The Deputy Prime Minister also noted that "there should be a mechanism to encourage organizations and individuals to conduct real estate transactions and land use rights of a civil nature, without business purposes, on the trading floor".

According to Vietnam+