Constructive trust land law

Does the construction industry appear sluggish in comparison to the previous year? Nguyen Quoc Hiep - President of the Vietnam Association of Construction Contractors (VACC) The construction sector is experiencing extraordinary hardship. Last month, a group of 21 southern contractors under the leadership of Hoa Binh Construction submitted an aid request to the prime minister at a time when there were about 40 unemployed businesses in the central region and several businesses in the north going through an order crisis. Notably, many companies in the top 10 construction industries are in a state of financial emergency, unable to pay subcontractors, materials, and labour wages. According to a report by the Ministry of Construction (MoC), the construction industry contracted 3 per cent in the first quarter of 2023 compared to the same period the previous year. However, the VACC survey revealed that businesses only completed 8 per cent of the 2023 plan in the first … [Read more...] about Safeguards crucial to protect local construction groups

Police in Dong Nai Province, southern Vietnam on Monday said they had prosecuted a case in which 198 villas and 290 detached houses were built illegally in Trang Bom District. Police officers made the move to investigate individuals and organizations involved in the development of the Tan Thinh Urban Area. They were charged with abusing positions and powers while on duty. The People’s Committee of Dong Nai Province earlier issued results of a comprehensive inspection into the project, whose investor is LDG Investment JSC based in Trang Bom District. The province introduced an 18.22-hectare land lot for the project in 2016 and gave its nod to LDG Investment JSC to develop the urban area in 2018 to meet local residents’ demand. However, the company failed to complete procedures to lease the land and convert the land use purpose. It has yet to get a construction license for the project either. Nevertheless, it constructed roads, a green park, rainwater and wastewater drainage … [Read more...] about Illegal construction of nearly 500 houses in Vietnam’s Dong Nai under investigation

The Ring Road No.4 in the Hanoi Capital Region is about 112.8km long, with around 58.2km in Hanoi, nearly 19.3km in neighbouring Hung Yen and some 35.3km in Bac Ninh provinces. - Illustrative image (Photo: VNA) Hanoi (VNA) – Hanoi is urgently speeding up the progress of sub-projects of the Ring Road 4 - Hanoi Capital Region project so that it can start the official construction of the important road in June, according to the Hanoi Management Board for Traffic Infrastructure Investment and Construction Projects. The board reported that over 5.85 trillion VND (over 249.36 million USD) has been so far allocated for the project, of which more than 3.97 trillion VND has been disbursed. The municipal People’s Committee has so far approved three sub-projects and completed the appraisal of the feasibility study report of specialised construction agencies. The local authorities have also allocated hundreds of billions of VND for the sub-projects. The management board and … [Read more...] about Hanoi ready for official construction of Ring Road No.4

A perspective rendering of the project. Photo by Kimson Land An address befitting a business empire Situated in the future international financial hub of Thu Thiem, the Luxury Boutique Office is a new collection of premium office spaces, reserved for leaders of renowned business empires. Operating at all hours of the day to keep up with the world’s biggest business hubs in the world, the project presents a haven for owners to connect with international partners, strategize and carry out important business decisions. The Luxury Boutique Office is geared towards accommodating family offices for the leaders of entrepreneurial empires (30 to 40 years in operation), a headquarters for the management of existing subsidiaries and potential new overseas businesses. With flexibility in conventional office developments, the Luxury Boutique Office also offers the ideal home for law firms, commercial offices, art galleries, auction houses, and more. The lobby at the Luxury … [Read more...] about SonKim Land develops Luxury Boutique Office for business elites

Increased political resistance to new EU laws to protect the environment has left the European Commission fighting to keep intact its vision for Europe's green transition. Ahead of elections in the European Parliament in June next year, the European Union is racing to finish legislation that includes two landmark nature bills - binding targets for countries to restore damaged natural habitats and a goal to halve chemical pesticide use by 2030. Much EU environment legislation has been passed over the last two years, but the appetite on the part of some lawmakers and member states for more is waning and farming groups say further change must be conditional on more financial support. Brussels proposed the nature measures last June. Opposition has mounted in recent weeks, as EU countries and lawmakers prepare for the final negotiations. The European Parliament's biggest group, the European People's Party, has called for the nature law to be scrapped saying it would hurt farmers. … [Read more...] about Europe hits resistance in race to finalise green laws

Construction of T2 at Cat Bi International Airport to start in Q4/2023 The prime minister emphasised that the construction of the new terminal will contribute to improving the quality of aviation and socioeconomic growth. He asked Haiphong People’s Committee to be proactive in developing a number of facilities to aid the construction, while simultaneously collaborating with the Ministry of Defence to resolve pending issues relating to land clearance and hand over, which should be completed in the third quarter. He stressed that the city should learn lessons about land clearance from Tan Son Nhat International Airport’s third terminal. “The city and the relevant authorities have to complete the appraisal and approval of the technical design in order to select the contractor. The construction must be started in the fourth quarter and completed one year later,” the prime minister stated. The passenger terminal T2 will be built by Airports Corporation of Vietnam, which … [Read more...] about Construction of T2 terminal at Cat Bi International Airport to start in Q4

The draft law clearly defines principles and methods in land evaluation and adds regulations on land evaluation consultation, the official emphasized. It continues to stipulate that land price lists must be issued annually to ensure that land prices match market rules, while adding regulations on extending the use of the current land price lists until the end of 2025, giving localities time to build and issue new ones in line with the new rules. The draft also amends regulations on state budget revenues sourced from land, and supplements cases that are subject to the exemption and reduction of land-use fees and land lease. The Government’s proposal noted that land evaluation must ensure objectivity, publicity, and transparency. Speaking at the working session, Chairman of the N.A.’s Economic Committee Vu Hong Thanh asked the Government to report on the road-map to review and sum up the enforcement of laws on land use tax to the N.A., and look back on legal regulations relating … [Read more...] about N.A. Standing Committee: Land pricing must be transparent

NA Chairman Vuong Dinh Hue (centre) and the vice chairmen at the opening plenum of the fifth session on May 22 (Photo: VNA) Hanoi (VNA) – Many legislators have expressed their hope that solutions to be devised at the ongoing fifth session of the 15th National Assembly (NA), opened on May 22 morning, will soon tackle difficulties to regain growth momentum for the economy to reach this year’s targets and create favourable conditions for the coming years. Talking to the press on the fringe of the session, deputy Hoang Van Cuong of Hanoi said the Vietnamese economy has been suffering from impacts of both the global economic situation and internal problems. It reached the growth target of the first quarter but is “seriously weak”, making it hard to achieve the target for the whole year. Therefore, in this session, the NA should seek solutions to internal problems to regain growth momentum so that the economy can achieve the target for 2023 and continue developing in the … [Read more...] about NA-devised solutions expected to fuel economic growth

The tightening of real estate loans and high-interest rates are among the roadblocks to the market. (Photo: VNA) HCM City (VNA) – A new government decree is expected to help remove difficulties for the domestic leisure property market, which is experiencing a 10-year low in demand, experts have said. Land Law has come into force from May 20, 2023. high-interest rates are among the roadblocks to the market. Meanwhile, the channel for mobilizing investment capital through corporate bonds has yet to revitalize. Decree No. 10/2023/ND-CP , buyers of condotels, officetels, and resort villas have ownership certificates from May 20. VNA … [Read more...] about New decree to raise investor confidence in leisure property market

On April 3, 2023, the Government issued Decree No. 10/2023/ND-CP on amending and supplementing several decrees guiding the Land Law implementation from May 20. — Photo chinhphu.vn Buyers of condotels, officetels and resort villas will have ownership certificates from May 20 under a new decree guiding the Land Law implementation. Owners of condotel apartments who fully satisfy the conditions under the land law, construction law and the law on real estate business shall be granted a certificate of ownership of land-attached construction facilities according to the commercial or service land area purpose. On April 3, 2023, the Government issued Decree No. 10/2023/ND-CP on amending and supplementing several decrees guiding the Land Law implementation from May 20. The land use term shall comply with provisions of Clause 3 Article 126 and Clause 1 Article 128 of the Land Law. Owners of construction facilities shall take responsibility before the law for fully satisfying conditions … [Read more...] about Condotels, officetels get ownership certificates from May 20