Unlock land financial policies and land prices

If financial policies on land and land prices can be handled and cleared, other issues of the Land Law will also be handled, including land recovery, compensation, and resettlement support…

This is the general comment made at the discussion on comments on the provisions of the draft Land Law (amended) recently organized by the National Assembly’s Economic Committee. Commenting on regulations related to land finance and land prices, Associate Professor, Dr. Ngo Tri Long, Vice Chairman of the Science and Training Council, Thanh Dong University, said that in recent times, the mechanism for determining Land valuation still has many shortcomings, mainly due to the determination of specific land prices lower than the market price, causing loss of State budget revenue and many negatives. The reason for determining land prices and land valuation methods is not closely consistent with market prices.

SOLUTION TO PRICING LAND CLOSE TO THE MARKET

According to Mr. Long, regulations on specific land price determination methods such as direct comparison, deduction, income, surplus, and coefficients are not really clear and reasonable. In addition, land valuation methods are specified in Circular 36 of the Ministry of Natural Resources and Environment detailing land valuation methods; Build and adjust land price list; Specific land valuation and land price determination consultancy are currently not synchronized with the Vietnam valuation standard system that has been developed and completed by the Ministry of Finance. Especially in the income and surplus methods, the determination of factors included in the calculation is still subjective, with no specific regulations or instructions.

At the discussion, some comments also emphasized that land valuation results will help the State and land users make the right decisions in management, business, and land use rights, avoiding land disputes. land, conflicts in implementing land laws. For land price determination consulting organizations and land price appraisal councils, basic opinions agree that a completely independent land pricing consulting organization should be regulated. The most optimal solution to determine prices close to the market is that land prices will be conducted by independent professional organizations and agencies on land valuation.

These organizations are also obliged to comply with the standards, principles, and valuation methods in Vietnam’s asset valuation standards, ensuring consistency in land valuation such as honestly reflecting market prices, Principles of independence and objectivity of consulting entities, determining land prices, compliance with inspection and supervision mechanisms…

In particular, land valuation organizations need to objectively implement land valuation standards. Only then will land valuation activities ensure objectivity, transparency and the land price determined by the land valuation agency will reflect the true market value.

According to Prof. Dr. Hoang Van Cuong, Member of the National Assembly’s Finance and Budget Committee, there needs to be more specific regulations on this organization, which should add to the authority of this organization to request State agencies managing land information provide information to serve the organization’s tasks.

This organization is responsible for ensuring independent, objective and honest consulting results according to the method chosen by this organization. On that basis, the Appraisal Council evaluates, checks, and appraises land price determination results from different organizations and selects an appropriate consulting unit.

UNLEASH LAND RESOURCES

Experts also agree with the annual land price list that is publicly announced and applied from January 1 of the year. Comments suggested that the Government develop asset valuation standards; At the same time, expand the application of auctions and bidding for land use rights when the State assigns land to organizations and individuals that need to use land. Along with that, strengthen inspection, inspection, and supervision of the local land valuation process on a regular and professional basis, as well as surprise inspections during the implementation of key projects.

The amendment of the Land Law aims to remove overlapping bottlenecks, clear land resources, help stabilize social life, and add motivation to the real estate market.
“Land management is a very complex and sensitive field, affecting the entire society, all classes and sectors. Therefore, if financial policies on land and land prices can be handled and cleared, other issues of the Land Law will also be handled, including land recovery, compensation and resettlement support… ” Chairman of the Economic Committee Vu Hong Thanh acknowledged.

Leaders of the Economic Committee said that the most difficult and complicated problem is that there is no open direction to come up with a method to determine specific land prices in each case to resolve all problems and inadequacies. Therefore, it is necessary to calculate to overcome difficulties and problems.

Regarding the land price list, there are fluctuations so adjustments are needed to facilitate the implementation process. Regarding the land price appraisal council, the Chairman of the Economic Committee proposed to ensure the independence and professional expertise of the land price appraisal council, valuation agency, and land price decision agency, ensuring Honest, objective.

After nearly 10 years of implementing the 2013 Land Law, land has increasingly become an important resource to serve the country’s socio-economy and ensure national defense and security. Therefore, amending and perfecting the land legal system and promoting land development is an important content to ensure the consistency of the legal system and systematize the Party’s Resolutions.

The Land Law Project (amended) was submitted to the National Assembly according to a 3-session process: first submission at the 4th Session, second opinion at the 5th Session and consideration and approval at the 6th Session. .

Currently, this draft law is being held to collect people’s opinions with 9 key contents including planning and land use plans; land recovery and compensation, support and resettlement policies; land fund development; land allocation, land lease, change of land use purpose; land registration, certification and administrative procedures, land data and information; financial mechanisms and policies, land prices; management and use regime of various types of land; decentralization, supervision and control of power; households using land.

According to regulations, on March 15, 2023, the collection of people’s opinions on the draft Land Law (amended) will be completed.

Source VnEconomy.

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