DNVN - According to economic expert Le Xuan Nghia, the 2024 Land Law, Housing Law, and Real Estate Business Law, which took effect from August 1, are a very important bright spot for economic recovery. They create momentum to accelerate the disbursement of public investment capital, disbursement of bank credit, and overcome the frozen period of the real estate market.
Dr. Le Xuan Nghia - economic expert said that the most prominent policy highlights from now until the end of 2024 are 3 laws: Land Law 2024, Housing Law, Real Estate Business Law taking effect on August 1. In which, there are a number of decrees detailing a number of articles of the above 3 laws under the Government's authority to issue decrees.
Currently, the Ministry of Construction and related ministries are urgently completing the final steps of the above decrees. The land, housing, real estate market as well as some related fields are actively waiting for the effectiveness and efficiency of these important laws and decrees. Especially when the real estate and housing market is showing signs of recovery in some segments.
The supply of real estate and housing is also showing signs of increasing. The real estate market as well as the asset market in general, including stocks and corporate bonds, will recover positively.
Dr. Le Xuan Nghia said that the 2024 Land Law, Housing Law, and Real Estate Business Law coming into effect are very important bright spots for economic recovery.
According to Mr. Nghia, another very important area related to these three laws and decrees is public investment and private investment. Public investment in 2024 will be disbursed more slowly than in 2023.
One of the reasons for this delay is that businesses and residents are waiting for a new land price mechanism to compensate for site clearance according to market principles. This wait has caused great difficulties in compensation and site clearance this year.
Many provinces that were very successful in disbursing public investment in 2023, such as Hung Yen, Bac Ninh, and Hai Phong, are stuck this year because they are waiting for prices to clear the land. This problem exists in both public investment projects, private projects, and in housing investment, industrial parks, and road traffic projects.
The 2024 Land Law, Housing Law, and Real Estate Business Law taking effect on August 1 are a very important bright spot for economic recovery in general and macroeconomic stability in particular.
These are laws and decrees that have a widespread impact on many industries and sectors, including banking and finance, securities, retail, tourism, transportation and especially the construction industry.
“The above three laws are also one of the driving forces to accelerate the disbursement of public investment capital, disbursement of bank credit and overcoming the frozen period of the real estate market. At the same time, they create confidence for investors to expand investment in production and business and return to the stock market in a positive way.
Many foreign investors highly appreciate the shortening of the effective period of these three laws,” said Mr. Nghia.
Commenting on monetary policy, Mr. Nghia predicted that in the last 6 months of the year, the State Bank of Vietnam (SBV) will continue to maintain the policy of extending, deferring, and maintaining the debt group for businesses in order to continue pumping credit into the economy. In fact, the credit growth rate in recent months has changed positively, the credit growth rate exceeded 6% in the first 6 months of the year and is forecast to exceed 15-16%.
“The State Bank of Vietnam is maintaining a stable exchange rate and sharply reducing the gap between domestic and international gold prices. Although these measures are not yet truly sustainable, they have initially shown a positive impact in strengthening the confidence of domestic and international investors,” said Mr. Nghia.
Hoai Anh
Source: https://doanhnghiepvn.vn/kinh-te/cac-luat-moi-sap-co-hieu-luc-thuc-day-dau-tu-cong-tin-dung-va-bat-dong-san/20240727025434376
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