By quickly agreeing to the bilateral trade agreement now, after more than one year spent in long and not always fruitful negotiations, the agreement will have a far better chance of passing approval in Congress than it might should the economic turmoil end and the voices in opposition should gain force. In Land Use Laws . To encourage foreign investment, Vietnam has amended the 1993 law to allow foreign residents to own, mortgage and sell residential apartments and houses. We have not yet reviewed the full text of the law, nor have we any direct experience in how the law is now being applied. Please return to Vietnam Vignettes for updates.
News media reports that there are two methods under consideration.
That seems to eliminate all foreign companies here to make a profit but not able to. Lease entitlement would be granted to those not entitled to land allotment, to include building residential zones in rural areas, and in urban areas of less than 3 ha in urban and less than 30 ha in other areas. Leases, granted mostly by provincial authorities, will not exceed 50 years, but the Government can grant leases up to 70 years. Diplomatic missions will be granted leases up to 99 years. Individuals and corporate entities leasing land from the State will be entitled to use the land rent and fixed assets as mortgage collateral for loans from Vietnamese commercial banks during their tenancy.