[KPMG] DRAFT NEW LAND LAW NO.8 DATED 8 NOVEMBER 2023
To date, eight draft versions of the new land law have been released. Based on the comments from stakeholders including the government, the National Assembly representatives and other organizations, the latest draft – draft no. 8 dated 08 November 2023 (“Draft New Land Law”) was submitted to the National Assembly for consideration. The latest Draft New Land Law continues to improve the administrative land management system and expand the rights of land users, including foreign-invested economic organizations.
We summarize here the key highlights of the latest Draft New Land Law:
1. Definition of “right to lease under land lease contracts”
2. Change to rights of land users leasing land on land rental annual payment terms
3. Additional cases of land lease on lump sum land rental payment terms from the State
4. New conditions for the transfer of assets attached to land
5. Compensation for land recovery
6. Land law violation
7. Basis for determination of land price
8. Right to choose land rental payment term
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Contact KPMG:
- Website: kpmg.com.vn
- Email: kpmghcmc@kpmg.com.vn
