On January 18, 2024, the 15th National Assembly of Vietnam passed the amended Land Law 2024 (“Land Law 2024”) at the conclusion of its 5th extraordinary session. This law signifies a pivotal advancement in Vietnam’s land management policy, offering a wider array of benefits for economic development. Land Law 2024, with its enhanced land use efficiency, streamlined procedures, increased transparency, and protection of land users’ rights and interests, is anticipated to boost the country’s competitiveness for both foreign and local investments.
Comprising 16 chapters and 260 articles, Land Law 2024 will come into effect on January 1, 2025, with the exceptions of (i) Article 190 and Article 248, which will take effect from April 1, 2024, (ii) The preparation and approval of land use planning will continue to be implemented as prescribed by Resolution No. 61/2022/QH15, dated June 16, 2012, of the National Assembly, and (iii) Article 60.9 of Land Law 2024 will take effect from the date Resolution No. 61/2022/QH15 expires. This article highlights some of the notable aspects of Land Law 2024 and its impact on enterprises in Vietnam, as well as other subjects of Land Law 2024.
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