Market-Based Land Pricing Struggles to Attract Investment
On October 29th, during a discussion on socio-economic issues, National Assembly Deputy Phạm Văn Hòa (Đồng Tháp) noted that while Vietnam’s macroeconomy remains stable, it lacks true robustness. Financial markets, including real estate, government bonds, and corporate sectors, have yet to recover sustainably.
National Assembly Deputy Phạm Văn Hòa. Photo: Như Ý
Regarding proposed amendments to Decree 94, which would require all property owners—individuals or organizations, domestic or foreign—to provide detailed identification, address, property type, size, quantity, tenure, and legal status, Deputy Hòa emphasized its necessity for transparent land management and reduced administrative burdens.
However, he criticized the requirement for citizens to submit photocopies of land-use certificates to state agencies for the national land database, calling it inefficient and inconvenient.
Sharing similar concerns, Deputy Hà Sĩ Đồng (Quảng Trị) expressed surprise that even in the capital, residents are asked to provide copies of land-use certificates and ID cards. Media reports highlight some localities threatening unresolved benefits for non-compliance, which he finds perplexing.
“It’s puzzling that citizens must submit state-issued documents already in government systems. This process wastes time and raises privacy concerns. Non-compliance risks complications in future transactions,” he stated.
Authorities justify the measure as necessary to cleanse the national land database due to discrepancies from informal transactions and unrecorded inheritances. However, Deputy Đồng suggested targeted outreach to affected individuals rather than blanket requirements.
“While data accuracy is vital, the approach and communication need reevaluation. Most citizens own one property and certificate, so additional procedures may not effectively cleanse the database,” he emphasized.
Proposal for a National Gold Trading Exchange
Addressing the gold market, Deputy Lê Thị Thanh Lam (Cần Thơ) noted its volatility and significant price gaps compared to global rates. She urged flexible, effective government regulation.
Deputy Lê Thị Thanh Lam. Photo: Như Ý
She proposed licensing guidelines for gold production and trade, export/import quotas, and establishing a national gold exchange for a transparent, professional market.
Deputy Phạm Văn Hòa described the gold market as “unpredictable,” with domestic prices far exceeding international levels. Despite new regulations allowing qualified enterprises to stabilize the market, prices remain high.
“Paradoxically, gold jewelry prices surpass bullion rates,” he noted, attributing high gold prices to credit impacts and citizen investment preferences over low-interest deposits.
He urged the government and central bank to implement effective stabilization measures and facilitate timely gold imports by qualified businesses.
Capital Markets: The Lifeblood of Production, Not a Playground for Speculation
According to delegate Nguyễn Như So, it is imperative to redirect capital back into the real economy, rather than allowing it to be entangled in short-term speculative cycles that fail to generate sustainable value.
Caution Advised: Riding the Waves of Gold and Silver Trading
Gold prices are soaring, but experts caution that this surge carries significant risks, especially for small investors without a solid financial foundation. Proceed with caution.
Upcoming Integration of Land Use Rights Certificate on VNeID: Key Information Citizens Should Know
In an upcoming development, land use rights certificates (red books) will be integrated into the VNeID application. This significant advancement empowers citizens to effortlessly provide, verify, and authenticate their land information, fostering greater transparency in data management.
Land Management Agency Explains Request for Red Book Copies from Citizens
Gathering land certificate copies is essential for auditing, cross-referencing, and enriching land data. Citizens need only provide a copy of their land certificate and citizen ID card when requested by the working group, without the need for notarization. Moving forward, land certificates will be integrated into the VNeID app, enabling citizens to self-declare and verify their information seamlessly.
Digital Land Titles Coming to VNeID App
The Ministry of Public Security is collaborating with the Ministry of Agriculture and Environment to develop a feature on the VNeID app. This feature will enable citizens to self-submit, verify, and authenticate land and residential ownership information directly from the National Population Database, eliminating the need to provide physical copies of land certificates or citizen ID cards.
