Vietnam to Simplify Property Laws

The Vietnamese government is planning to shake-up the country’s planning laws to reduce the amount of red-tape that property developers currently face. Currently, the average property development in Vietnam requires 33 licenses and it takes an average of three years to obtain them all.

Half the problem with the current planning system is that many of the licenses are not doled out by a central authority. Instead, local authorities are in charge of giving the licenses out and it can take months for a city People’s Committee to review submitted plans and for developers to meet with relevant agencies so that all the relevant rules and regulations are covered. Because of the sheer quantity of people the developers must meet, it is often difficult to setup all the meetings in a timely fashion.

Some of the certificates and licenses which are currently needed by Vietnamese property developers include certificates stating the land is not currently in dispute, approval of the location for property development, the amount of land that will be used for the development, and a detailed plan of the finished properties.

To enable a swifter property development process, six laws are in the process of being drafted which will make the approval of development projects easier. Regulations that are no longer relevant will be removed, and those which overlap will be synchronized.

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