Illustrative image. (Source: Vietnam+)
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Speaking to reporters from the VietnamPlus e-newspaper regarding Ho Chi Minh City’s recent controversial adjustment to its land price table, Dao Trung Chinh, Director of the Department of Planning and Land Development (Ministry of Natural Resources and Environment), affirmed that the local adjustment of land prices is correct and timely according to the 2024 Land Law.
Specifically, according to Clause 1, Article 257 of the 2024 Land Law, localities are allowed to continue using the price table issued under the 2013 Land Law until December 31, 2025. This law also stipulates that when there are fluctuations, localities must adjust land prices according to the market price with a 20% range within six months to match the actual land price situation.
However, Mr. Chinh also noted that the principle of adjusting land prices must ensure a balance between land use fees, land rent, and compensation when the State recovers land; and a balance between land users and the State. Therefore, Ho Chi Minh City needs to consider making a decision.
Regarding this issue, Deputy Minister of Natural Resources and Environment Le Minh Ngan said that Deputy Prime Minister Tran Hong Ha has assigned the Ministry of Natural Resources and Environment to coordinate with the Ministries of Finance, Justice, and Construction to guide and assist Ho Chi Minh City in the process of adjusting land prices.
“We will organize an inter-sectoral meeting to discuss and come up with an optimal solution, based on a comprehensive and overall assessment of Ho Chi Minh City’s process of issuing the land price table in the past time to determine whether to adjust or not, and how to adjust,” said Mr. Ngan.
According to the leader of the Ministry of Natural Resources and Environment, the adjustment of the land price table according to Clause 1, Article 257 of the 2024 Land Law must follow the procedure prescribed in Decree 71/2024 of the Government on land prices, and the technical adjustment process must comply with three principles.
First is to ensure the market principle. Second is to ensure the principle that the State represents the owner of all land to decide the land price. Third is that localities, when adjusting the land price table, must be responsible for receiving and explaining the opinions of the subjects affected by the land price table so that when submitting it to the People’s Council for approval, the land price table ensures harmony and improves the effectiveness of the State management of land prices; prevents state budget losses and does not affect people and businesses.
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