New land law can spur Vietnam to become a high-income country

Opening opportunities: A woman walks past the Hoan Kiem lake in Hanoi. The new land law is expected to remove legal bottlenecks for real estate projects. — AFP

HANOI: The amended Land Law which was passed at the 15th National Assembly’s fifth extraordinary session in mid-January is expected to provide a firm legal framework to enhance land management efficiency and create new momentum for Vietnam to become a high-income country by 2045.

Comprising 16 chapters and 260 articles, the law would solve existing problems in land management and contribute to promoting growth with innovations and breakthroughs in thinking, deputy prime minister Tran Hong Ha said, emphasising that improving the legal framework for land has been a focus of the party and the government.