Vietnam Favors Foreign Property Investors
Vietnamese Prime Minister Nguyen Tan Dung signed May 8 a directive guiding the implementation of the Real Estate Law, focusing on extending rights to foreign investors in domestic markets.
Under the directive, PM Dung instructed the Ministry of Construction to lay the legal framework so that more foreign property investors would be able to do business in Vietnam.
He also asked the ministry to be in touch with agencies concerned to make a careful check of all relevant legal documents to align them with the new law.
The modification must be completed in the second quarter at the latest.
The Ministry of Natural Resources and Environment was directed to work with the Ministry of Construction to review regulations governing land-use rights and make appropriate amendments.
PM Dung also asked the Ministry of Finance to examine government policies on land-use duties, land-use fees and other financial responsibilities concerning real estate transactions.
Besides, the ministry was also tasked with offering soft loans for housing projects to house poor people, workers, and students.
The Vietnamese parliament – the National Assembly - ratified the Real Estate Law last January. (Economy & Urban)
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