Tiếng Việt
中文 (中国)
In 2024, it is anticipated that there will be four Decrees and Circulars guiding the implementation of the Real Estate Business Law in Vietnam. On January 8, 2024, the Prime Minister of Vietnam issued Decision No. 19/QĐ-TTg regarding the issuance of a List and the assignment of responsible agencies to draft detailed regulations for the implementation of laws and resolutions passed by the 6th session of the XV National Assembly.
According to the Appendix – LIST AND ASSIGNMENT OF RESPONSIBLE AGENCIES TO DRAFT DETAILED REGULATIONS FOR THE IMPLEMENTATION OF LAWS AND RESOLUTIONS PASSED BY THE XV NATIONAL ASSEMBLY AT ITS 6TH SESSION (Attached to Decision No. 19/QĐ-TTg dated January 8, 2024, of the Prime Minister), in 2024, the Ministry of Construction will lead the issuance of several Decrees and Circulars guiding the implementation of the 2023 Real Estate Business Law, including:
- A Decree detailing and guiding the implementation of certain provisions of the Real Estate Business Law (Paragraph 6 of Article 5, Paragraph 7 of Article 6, Paragraph 6 of Article 9, Paragraph 4 of Article 24, Paragraph 7 of Article 31, Paragraph 4 of Article 42, Paragraph 7 of Article 44, Article 52, Paragraph 4 of Article 54, Paragraph 5 of Article 55, Paragraph 9 of Article 56, Paragraph 2 of Article 60, Point b of Paragraph 1 of Article 61, Paragraph 3 of Article 70, Paragraph 4 of Article 79).
- A Decree on the construction, management, and use of the information system on housing and real estate markets (Paragraph 3 of Article 72, Paragraph 3 of Article 73, Paragraph 7 of Article 74, Point c of Paragraph 2, Paragraph 3 of Article 75).
- A Circular from the Minister of Construction issuing the training framework program, knowledge enhancement for real estate brokerage practitioners, and the operation of real estate trading floors (Paragraph 3 of Article 69).
- A Circular from the Minister of Finance regulating the use of funds for the construction, investigation, collection of information, updating, maintenance, and operation of the information system, database on housing and real estate markets; guiding the determination of prices for providing information services, data on housing and real estate markets as prescribed by price-related laws; instructing the management and use of funds obtained from providing information services, data on housing and real estate markets (Paragraph 3 of Article 76).
The issuance of these Decrees and Circulars guiding the implementation of the 2023 Real Estate Business Law is crucial to ensuring effectiveness and transparency in the management, enforcement, and compliance with the provisions of the Law.
These detailed guidelines provide clear and consistent instructions for both business entities and regulatory authorities, enhancing transparency and certainty in the real estate business process.
Simultaneously, they help address complex issues that may arise during the implementation of the Law, creating favorable conditions for the sustainable development of the real estate market and contributing to the prosperity of the economy.
Entities taking action in regards to real estate in Vietnam should contact real estate lawyers in Vietnam for detail consultation and in-depth advice to their circumstance.
ASL LAW is the top tier Real Estate law firm in Vietnam. If you need any advice, please contact us for further information or collaboration.
