3:26:18 PM | 7/8/2005
Cities, Provinces to Regulate Land Prices
The Ministry of Finance will allow municipal and provincial People’s Committees to adjust land prices where necessary.
The decision comes after the Government announced its intention to survey all of the nation’s land starting next year.
Despite the changes, provinces will still not be allowed to increase property prices to more than double the original price set by the State in past decrees.
Under the new plan, however, developers and land-owners will not be able to ask for a reduction in land use taxes. The State will also do away with tender appointments when building infrastructure improvements on public land.
Vietnamese
