Amended Land Law helps increase Vietnam’s advantages in attracting investment

The amended Land Law, freshly passed at the 15th National Assembly (NA)’s 5th extraordinary session in early 2024, is a positive step for foreign nationals of Vietnamese origin, encouraging them to invest in Vietnam, said Le Thuy Tien, director of Mori Pharmacy Ltd and Mori Healthcare in Japan.

According to Tien, the amended law is expected to help Vietnam attract more foreign investment, thus promoting Vietnam’s economic development in various aspects.

Allowing overseas Vietnamese (OVs) and Vietnamese-origin people to own land when investing in Vietnam is the correct direction and a sound financial and diplomatic policy of the Vietnamese Government, she said.

With the implementation of the amended Land Law, Vietnam’s real estate market will grow much more vibrant than before, she said, adding that it would be beneficial if the Vietnamese Government utilises tax revenue from the real estate market to boost investment in infrastructure such as roads, schools, bridges, ports, and other utilities.

Tien has been investing in real estate in Vietnam for many years. She said that she intends to further expand her investment to tap the chances brought about by the aforementioned open policies.