Vietnam to Amend Land Law: State to Determine Land Prices, Eliminate Dual Pricing

Vietnam's government has adopted a resolution outlining the direction for amending the Land Law, clearly stating its policy to have the state manage and control land price determination. This aims to prevent the formation of dual pricing in the market. Furthermore, compensation related to land acquisition will also transition from traditional monetary compensation towards ensuring the livelihoods and living conditions of those whose land is acquired. This amendment is intended to enhance the transparent and efficient management of land resources. Specifically, measures to prevent improper land use and land idling are expected to be included. Work is currently underway for the Land Law amendment, with parallel efforts to develop related databases. For instance, in Nghe An province, the construction of the national land database has reached over 57% completion. Land issues in Vietnam, alongside rapid economic growth, have posed challenges, particularly in urban areas, with soaring land prices and disputes over land use. State land acquisition, in particular, directly impacts residents' lives through its pricing and compensation processes, making the new law highly anticipated. This amendment, proceeding under a one-party system, will focus on balancing market principles with state control. While the Land Law has been amended multiple times in the past, new challenges have arisen with each revision, and it remains to be seen if this upcoming amendment can fundamentally resolve these issues.