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Due to the special attention of the people and enterprises, the HCMC People’s Committee has decided to cautiously postpone the completion time of the draft.

According to Mr. Nguyen Toan Thang, Director of the Department of Natural Resources and Environment, although the time for collecting public opinions ended on July 26, the HCMC People’s Committee still organized conferences to listen and receive feedback, thereby recording the criticism of individuals, organizations, and people on this content. The Party Committee of the HCMC People’s Committee has exchanged with the Party Delegation of the Vietnam Fatherland Front Committee in assigning the HCMC People’s Committee to coordinate with the Standing Committee of the Vietnam Fatherland Front Committee to organize a social criticism conference in accordance with the procedure for building legal documents.

At the same time, it is proposed that the Standing Committee of the Vietnam Fatherland Front Committee preside over dialogues and widely collect opinions from agencies, organizations, individuals, land users, and other related subjects affected by the decision.

Previously, when studying the draft, the Ho Chi Minh City Real Estate Association sent a document to the National Assembly Standing Committee requesting an interpretation of the law regarding the content of Article 257, Section 1 of the 2024 Land Law. This is because the HCMC Department of Natural Resources and Environment explained that the city must strictly comply with the regulations in Article 257, Section 1 of the 2024 Land Law, so it has proceeded to build a new land price framework. When promulgating the 2024 Land Law, there are no longer any provisions on the land price adjustment coefficient and updates on resettlement land prices. Therefore, if the new land price framework is not issued in time, it will lead to congestion in determining the financial obligations of households and individuals, as well as compensation, site clearance, and resettlement.

However, up to now, only Ho Chi Minh City has announced information about the new land price framework draft, which is expected to be applied from August 1 to December 31, 2024.

On the other hand, the Real Estate Association believes that the provisions of Article 257, Section 1 of the 2024 Land Law may not be clear enough for localities to have a uniform understanding, which is easy to understand and implement. Only the National Assembly Standing Committee has the authority to interpret the law. The Association suggested that the HCMC authorities do not need to issue a new land price framework applied from August 1, 2024, but focus on building and perfecting the first land price framework draft to be announced and applied from January 1, 2026, according to the regulations in Article 159, Section 3 of the 2024 Land Law.

When the Vietnam Fatherland Front Committee of HCMC organized a social criticism conference on the new land price framework draft of HCMC, representatives of agencies, departments, branches, and socio-political organizations shared the view that HCMC needs to comprehensively assess the impact of the new adjusted land price framework and, at the same time, have a roadmap for adjustment to avoid sudden and negative impacts on the market and the rights and interests of the people.

From the perspective of voters, people, and enterprises – the subjects directly affected by the policy, the application of the new land price framework will create great financial pressure, especially for individuals and organizations with a demand for changing the land use purpose from agriculture to residential land for their children to build houses and settle down. Moreover, households and individuals who are or are about to carry out land registration procedures will also be greatly affected if the new land price framework is applied immediately.

Currently, the HCMC People’s Committee has decided to postpone the official application time of the new land price framework adjustment to have more time to study and handle arising issues, as well as to perfect the draft. Thanks to that, when the adjusted land price framework is officially issued, it will be highly agreed upon by the people, enterprises, individuals, and organizations, helping to implement it uniformly and effectively, and avoiding problems and inadequacies when the new regulations take effect.