Amended Land Law helps increase Vietnam's advantages in attracting investment
The amended Land Law, freshly passed at the 15th National Assembly (NA)'s 5th extraordinary session in early 2024, is a positive step for foreign nationals of Vietnamese origin, encouraging them to invest in Vietnam, said Le Thuy Tien, director of Mori Pharmacy Ltd and Mori Healthcare in Japan.
Le Thuy Tien, director of Mori Pharmacy Ltd and Mori Healthcare in Japan (Photo: VNA)
Tokyo (VNA) - Theamended Land Law, freshly passed at the 15th National Assembly (NA)'s 5thextraordinary session in early 2024, is a positive step for foreign nationals ofVietnamese origin, encouraging them to invest in Vietnam, said Le ThuyTien, director of Mori PharmacyLtd and Mori Healthcare in Japan.
According to Tien, the amended law is expected to help Vietnam attract more foreigninvestment, thus promoting Vietnam's economic development in variousaspects.
Allowing overseas Vietnamese (OVs) and Vietnamese-origin people toown land when investing in Vietnam is the correct direction and a sound financialand diplomatic policy of the Vietnamese Government, she said.
With the implementation of the amended Land Law, Vietnam's real estate marketwill grow much more vibrant than before, she said, adding that it would bebeneficial if the Vietnamese Government utilises tax revenue from the realestate market to boost investment in infrastructure such as roads, schools, bridges,ports, and other utilities.
Tien has been investing in real estate in Vietnam for many years. She said thatshe intends to further expand her investment to tap the chances brought about by the aforementioned open policies./.
The amended Land Law, freshly passed at the 15th National Assembly (NA)’s 5th extraordinary session, introduces numerous new elements, focusing on five groups of issues, a legislator said at a January 18 press conference on outcomes of the session.
The amended Land Law which was passed at the 15th National Assembly’s fifth extraordinary session in mid-January is expected to provide a firm legal framework to enhance land management efficiency and create new momentum for Vietnam to become a high-income country by 2045.
Standing member of the National Assembly's Economic Committee Phan Duc Hieu recently shared his optimistic outlook on the practical implications of the revised Land Law while talking with the press.
Koizumi Kenichi, a Japanese real estate investment expert, has praised the amended Land Law that was passed by the Vietnamese National Assembly earlier this year, believing that one specific amendment will be very welcome to foreign companies.
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Le Thuy Tien, director of Mori Pharmacy Ltd and Mori Healthcare in Japan (Photo: VNA) 
