November 19, 2014
The new Land Law was ratified by the National Assembly on November 29, 2013, and came into effect on July 1 this year (the 2014 Land Law). It replaces the previous Land Law of 2003 (the 2003 Land Law). Following the 2014 Land Law, the government issued Decrees No 43, 44, 45, 46, and 47, which also came into effect on July 1. In guiding some of these decrees, the Ministry of Natural Resources and Environment and the Ministry of Finance issued several guiding circulars. The new Land Law may well bring about love-hate feelings for foreign developers in Vietnam.