Vietnam updates Land Law to enhance resource management

Vietnam is undergoing significant legislative updates to its land management framework. Discussions regarding the 2024 Land Law emphasize the need for transparency in land recovery, compensation, and resettlement. The goal is to transform land into a strategic resource and competitive advantage while maintaining strict management to prevent the loss of public assets.

The proposed changes aim to shift from administrative management to modern governance, utilizing digital transformation to enhance efficiency. The new law is designed as a “framework law,” reducing the number of articles from approximately 260 to 110 to allow for more flexible guidance through government decrees and circulars. Key focus areas include land pricing, financial obligations, and preventing land speculation.