Editing the Investment Law: Expecting to “untie” hundreds of housing projects that are currently stuck

“Amendment to point c, clause 1, article 75 of the Law on Investment” has long been the “anxious” expectation of real estate businesses. Therefore, when the information that the above Law will be revised is strongly attracting the attention of businessmen and lawyers…

This is information that many real estate businesses welcome and look forward to. However, according to a report sent to the Government on September 29, 2021 by the Ministry of Justice, the content of the proposal to amend Point c, Clause 1, Article 75 of the Law on Investment has two directions.

Firstly, according to the proposal of the Ministry of Planning and Investment on the basis of receiving the opinions of the Ministry of Natural Resources and Environment, the Ministry of Construction amends and supplements this regulation in the direction that if businesses need to own the land fund for residential purposes or other types of land being consistent with master plans and plans on land use approved by competent state agencies in accordance with the land law, they will be selected as the investor of the housing project in commerce.

Secondly, the Ministry of Justice proposes amendments in the direction that the enterprises need to own a legal residential land fund or other types of land in accordance with master plans and plans on land use approved by competent state agencies for changing the current purpose of land use to residential land in accordance with the land law.



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