Minister of Natural Resources and Environment proposes solutions to prevent land price inflation

On the afternoon of March 16, under the direction of Vice Chairman of the National Assembly Nguyen Duc Hai, the National Assembly Standing Committee conducted a question-and-answer session with Minister of Natural Resources and Environment (MONRE) Tran Hong Ha.

Panorama of the question and answer session at Dien Hong Hall, National Assembly. Photo: daibieunhandan.vn

At the Nghe An Provincial National Assembly Delegation, Comrade Thai Thanh Quy - Member of the Party Central Committee, Provincial Party Secretary, Head of the Provincial National Assembly Delegation, Chairman of the Provincial People's Council chaired. Also attending were National Assembly deputies working in Nghe An.

Attending the question and answer session at Nghe An bridge were comrade Hoang Nghia Hieu - Member of the Provincial Party Standing Committee, Vice Chairman of the Provincial People's Committee, and leaders of the Department of Natural Resources and Environment.

Many delegates believe that land prices are inflated and speculated, causing the market to develop unhealthy and asked the head of the Ministry of Natural Resources and Environment to provide a solution?

Panorama of the questioning session at the Nghe An Provincial National Assembly Delegation bridge. Photo: Thanh Duy

Responding to questions about this group of issues, Minister of Natural Resources and Environment Tran Hong Ha said that currently, there is not only the situation of "price inflation" but also "price suppression", "blue team, red team" in land auctions, leading to many consequences, causing fluctuations in the real estate market, loss of state assets. "Price inflation" also creates a new price level that affects the entire economic system;...

From the perspective of the Ministry of Natural Resources and Environment, the Minister said that land use rights auction activities are still inadequate and limited when subject to the regulation of many different laws such as: Law on Property Auction, Land Law and regulations related to finance and tax.

Meanwhile, according to the Ministry of Natural Resources and Environment, some regulations on auction procedures of the Law on Property Auction are not yet strict, and do not ensure flexibility to handle situations arising in auctions of special types of assets such as auctions of land use rights.

Specifically, the regulations on the deposit amount are not appropriate; there are no regulations on the time and responsibility of the property owner in examining the records, conditions and financial capacity of the enterprise participating in the land price...

Minister of Natural Resources and Environment Tran Hong Ha answers questions. Photo: daibieunhandan.vn

Currently, only the Land Law and Decree No. 43/2014/ND-CP of the Government detailing the implementation of the Land Law have provisions on the conditions and financial capacity of organizations participating in land use rights auctions.

However, the legal system including laws on property auctions, credit, investment, and housing has not yet stipulated conditions for equity capital, bank guarantee commitments, proving transparency, feasibility of capital mobilization, and feasibility of investment and business plans on auctioned land to suit management requirements in the current context.

Therefore, according to Minister Tran Hong Ha, there must be regulations on methods and procedures for land auctions that are more realistic and strict; at the same time, there must be strong sanctions with enough deterrence.

Comrade Thai Thanh Quy - Member of the Party Central Committee, Secretary of the Provincial Party Committee, Head of the National Assembly Delegation of Nghe An province, Chairman of the Provincial People's Council chaired at the National Assembly Delegation of Nghe An province. Photo: Thanh Duy

The head of the Ministry of Natural Resources and Environment also said that it is necessary to strengthen discipline and responsibility; inspect, investigate, and strictly handle public agencies if violations are found.

Along with that, to overcome the situation of "inflating land prices", Minister Tran Hong Ha said that the policy must control investment projects to ensure feasibility in the direction of determining the roadmap for putting the project into use for socio-economic development.

On the other hand, it is necessary to distinguish market segments, taking the real estate demand for housing as the basis for deciding on investment in urban development and real estate; not the goal of earning a lot of money in this or that term to invest; that is, it is necessary to ensure the calculation of the balance of supply and demand in the real estate market.

National Assembly delegates from Nghe An province attend the question and answer session online. Photo: Thanh Duy

Besides the market, according to the Minister, land use planning, along with urban and construction planning, are extremely important; these two plans must be based on market calculations and forecasts of demand.

Leaders of the Provincial People's Committee and the Department of Natural Resources and Environment attended the question and answer session at the Nghe An Provincial National Assembly Delegation bridge. Photo: Thanh Duy

The head of the Ministry of Natural Resources and Environment also said that in the coming time, management work also needs to be implemented in the direction of using tax tools for fallow land, land with projects but not implemented... to avoid speculation and people with real needs can access.

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