‘A project must have 36 seals to complete’

The comments were made by Mr. Nguyen Quoc Hiep, Chairman of the Board of Directors of GP Invest at the Conference to amend 3 laws including Land, Housing, and Real Estate Business on the morning of March 28.

According to his statistics, there are about 12 laws affecting the real estate sector. If considering relevant laws, the recorded number is 60. If considering administrative procedures for a project, according to his calculations, it is necessary to consider administrative procedures for a project. up to 36 new seals completed. “Even in the opinion of a lawyer, there are 120 seals if unofficial regulations are included,” said Hiep, adding that the more complex legal procedures are known as the matrix.

In order to remove heavy procedures for businesses, the President of GP Invest said that it is necessary to take the Land Law and the Investment Law as two basic laws so that the specialized laws have a basis for revision. Because when the Laws are difficult to agree, there is a need for a ground law to resolve the controversy.

In the Land Law, Mr. Hiep said, the introduction of Decree 30, which does not allow the conversion of other land to residential land, is causing a large number of business projects to be blocked. Accordingly, there are about 400 projects in Hanoi and Ho Chi Minh City facing problems, causing difficulties for businesses. Therefore, the first thing to do is to amend this decree. Besides, another problem point he pointed out is that the responsibility for site clearance and land belongs to the State instead of enterprises. He suggested that this responsibility should be clearly resolved. The story of the land use plan, the project approval, the land valuation also needs to be reviewed by the authorities as a whole.

Mr. Le Tuan Hai, leader of Telin Group Joint Stock Company, concurred with the need to take the Land Law as the basis to correct relevant laws. He also noted that it is necessary to consider real estate as a commodity product, bought and sold in society, so it is necessary to reduce as many administrative procedures as possible for smooth transactions. Administrative procedures need to be delegated to functional units, the decentralization should be as specific as possible to make the process go faster.

With land pricing, he shared, currently taking place according to feelings, leading to low prices will cause damage to the state, high prices, businesses cannot do. Therefore, very few businesses dare to set prices.

Economic expert Vu Dinh Anh said that in the coming time, it is necessary to synchronously and fully amend many laws related to real estate, not just stopping at the 3 laws of Land, Housing, and Real Estate Business.

“We not only need to amend the Land Law but also the law on price management and valuation. The issue of bidding for land use projects is not in the Land Law, so the Law on Bidding also needs to be corrected. , it is necessary to chain all the issues, the relevant Laws must be revised,” he said.

Besides, he also mentioned the need to find ways to minimize risks in the corporate bond market because this is an important capital mobilization channel. Real estate businesses always need capital, so it is necessary to further develop capital mobilization channels while ensuring safety for investors.

Therefore, he thinks it is necessary to amend the Law on Credit Institutions, which regulates collateral because currently 70% of collateral in banks is real estate. “How do banks not have to hear the real estate business that they are afraid of,” he said.

Representative of the State management agency, Mr. Nguyen Manh Khoi, Deputy Director of the Housing and Real Estate Market Management Department, Ministry of Construction, said that regarding the Housing Law, the Law on Real Estate Business, views of the Ministry is required to submit to the National Assembly in parallel with the Law on Land. This is to resolve conflicts and overlaps at the same time, synchronously. He admitted, if the law is not updated timely and accurately, it will create difficulties for market development.

For example, the issue of financial obligations on land. According to him, this is a huge problem because it is related to house prices and land prices. The question is what percentage of the financial obligation will be the land price structure in 1 m2, if businesses with thousands of m2 of land will pay the obligation. Or with land administrative procedures, it is necessary to clarify whether the land business organizations and other business organizations are the same to avoid overlapping procedures and problems.

The form of land use to implement the project is also a controversial issue and needs to be agreed here. For example, the phrases “residential land” and “other land” need to be concretized and synchronized… so as not to make it difficult for businesses.

With the Housing Law, Mr. Khoi said, the Ministry will rename social housing, including social housing for low-income people in urban areas, workers in industrial zones and a separate object, the police force. armed people.

With the Law on Real Estate Business, Mr. Khoi said, there are 4 problems including: business conditions, project classification, project business rights with the rights of land users and service business management services, real estate business.

To regulate the market, a representative of the Ministry of Construction noted, there will be many solutions to help avoid hot and cold situations.

Duc Minh