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# Vietnam’s government has recently issued Decree No. 94/2024/ND-CP, dated July 24, 2024, detailing the implementation of a number of articles of the Law on Real Estate Business regarding the construction and management of the housing and real estate market information system and database. The Decree states that the database for housing and the real estate market shall be constructed in accordance with the National Digital Transformation Program and the local e-government architecture. Data sharing between ministries, sectors, and localities to serve state management and administrative procedure resolution shall be carried out following the Government’s regulations on the management, connection, and sharing of digital data of state agencies and laws on electronic transactions.
# Decree No. 95/2024/ND-CP, dated July 26, 2024, provides detailed regulations on a number of articles of the 2023 Law on Housing. According to the Decree, in the case of constructing multi-story apartment buildings for lease, sale, or a combination of sale and lease, or with a scale of 20 apartments or more for lease, it is necessary to carry out investment procedures for construction projects in accordance with the laws on investment, housing, construction, and relevant laws.
# The government has also issued Decree No. 96/2024/ND-CP, dated July 24, 2024, detailing a number of articles of the Law on Real Estate Business. The Decree stipulates that real estate exchanges must meet the conditions prescribed in Article 55 of the Law on Real Estate Business. The legal representative of the enterprise and the person in charge of managing the real estate exchange shall be responsible for the operation of the exchange. The legal representative of the real estate exchange can also be the person directly managing the exchange.
# Decree No. 103/2024/ND-CP, dated July 30, 2024, prescribes regulations on land use fees and land rent, which will take effect from August 1, 2024. Accordingly, there will be a 50% reduction in land use fees for cases where the competent state agency decides on land allocation, land use purpose conversion, or recognition of land use rights for poor people, households, or individuals who are ethnic minorities in areas with particularly difficult socio-economic conditions, border, and island areas.
# Regarding land issues, the government has issued Decree No. 104/2024/ND-CP, dated July 31, 2024, on the Land Development Fund. This Decree takes effect from August 1, 2024. According to the provisions, the Land Development Fund is a non-budget financial fund of the State, directly under the People’s Committee at the provincial level. It is decided to be established by the People’s Committee of the same level, operates independently of the state budget, does not aim for profit, and ensures capital preservation and development.
