Vietnam’s New Land Law Sparks Excitement Among Overseas Vietnamese
Introduction to Vietnam’s Revised Land Law
In a significant move that has captured the attention of Overseas Vietnamese (OV) around the world, the National Assembly of Vietnam has passed a revised version of the Land Law. This landmark legislation underscores the Vietnamese government’s dedication to ensuring that OVs enjoy equal rights to purchase and own land use rights and houses in Vietnam, akin to the privileges extended to Vietnamese citizens residing within the country. Vietnamese Ambassador in Hungary, Nguyễn Thị Bích Thảo, recently voiced the collective anticipation and excitement of the OV community regarding the new provisions.
Expectations for Implementation
During a meeting with NA Vice Chairman Trần Quang Phương, who was on a working visit to Europe, Ambassador Thảo expressed optimism for the swift issuance of specific regulations detailing the procedures and necessary documents for real estate transactions involving Overseas Vietnamese. The meeting highlighted the eagerness of OVs to engage more deeply with their homeland through property investment, pending clear guidelines on how to proceed under the new law.
Business Perspective on the Revised Land Law
From the business standpoint, Phạm Ngọc Chu, Vice Chairman of the Global Vietnamese Business Association and Chairman of the Vietnamese Business Association in Hungary, conveyed strong support from European-based Vietnamese businesses for the revised law. Chu emphasized that the legislation promotes equality between Overseas Vietnamese and domestic businesses and residents in matters of buying, selling, transferring, and inheriting land use rights and houses in Vietnam. This development is expected to bolster investment from Vietnamese citizens and businesses abroad, spanning various sectors.
NA Vice Chairman’s Reaffirmation of OV Community’s Role
In reaffirming the integral role of the Vietnamese community abroad, NA Vice Chairman Trần Quang Phương addressed several concerns raised by the community. These concerns ranged from the restoration of Vietnamese nationality and the issuance of citizenship cards to enhancing educational opportunities for Vietnamese students in Hungary, such as increasing scholarships, promoting the Vietnamese language, and preserving Vietnamese culture abroad. This conversation signifies the Vietnamese government’s broader commitment to its diaspora, beyond the realms of property ownership.
Conclusion and Forward-Looking Statements
The revision of Vietnam’s Land Law marks a pivotal moment for the Overseas Vietnamese community, promising to strengthen ties with their homeland through property ownership and investment. As the Vietnamese government works on implementing the new provisions, the global Vietnamese diaspora watches eagerly, hopeful that the forthcoming regulations will pave the way for increased participation in Vietnam’s economic and cultural life. Will these changes lead to a surge in investment from Overseas Vietnamese, and how will it impact Vietnam’s development trajectory? Only time will tell.