The land price evaluation issue has witnessed shortcomings, some experts has said (Photo: VNA) Vietnam was urged to complete the land market to meet requirements and ensure development, experts said. Tran Quoc Toan, former Vice Chairman of the Government Office, said there were many shortcomings relating to the land market. The legal system regarding the local land market has not caught up with reality though it was regularly adjusted and supplemented, causing difficulties for State management on land issues. According to the municipal Department of National Resources and Environment of Hanoi, the capital has faced five big issues when implementing the Land Law 2013 including land allocation, land lease, land use rights, property rights attached to land and problems in the work of price determination. In addition, the land and property market management has been ineffective, causing improper land acquisition and compensation and wrong use of public land. Toan told Hai Quan (Customs) Newspaper that the land price evaluation issue has encountered shortcomings and has not followed market prices. Currently, the land prices stipulated by the Government have been 30 to 60 percent of the transfer prices or much lower. The country has not had an effective system to observe… Read full this story
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