The Ministry of Foreign Affairs' State Committee for Overseas Vietnamese (SCOV) in coordination with the Hanoi Bar Association organised a conference on June 27 to popularise regulations and laws regarding the Land Law 2024 of Vietnam to overseas Vietnamese (OVs).
The Land Law 2024, which creates a smooth legal corridor for overseas Vietnamese (OV) to invest in housing in Vietnam, is expected to help Vietnam attract billions of dollars of remittances each year, contributing to promoting the growth of the real estate sector, according to insiders.
The Government on May 17 issued a Resolution approving the proposal to draft amendments to the Housing Law and the Real Estate Business Law, specifically Clause 1 of Article 197 and Clause 1 of Article 82, respectively.
The Land Law 2024, which creates a smooth legal corridor for overseas Vietnamese (OV) to invest in housing in Vietnam, is expected to help Vietnam attract billions of dollars of remittances each year, contributing to promoting the growth of the real estate sector, according to insiders.
Documents guiding the implementation of the Land Law 2024 must be built promptly in the motto of “early and from afar”, thoroughly dealing with issues with different opinions, ensuring their coherence, Deputy Prime Minister Tran Hong Ha requested at a meeting with leaders of some ministries and sectors on April 16.
A representative of the Ministry of Natural Resources and Environment said the widening of the provisions allowing Overseas Vietnamese to own houses will increase the capital flow into the country and promote the utilisation of the land resources in a more effective way.
