According to Associate Professor. Dr. Nguyen Quang Tuyen - Vice Chairman of the University Council, Head of the Faculty of Economic Law, Hanoi Law University, before the 2024 Land Law was issued and took effect, in fact, the agricultural real estate market segment had already existed, although the legal system to adjust this segment was not complete, not unified synchronously, scattered in different documents and the agricultural real estate segment developed in a disjointed, small direction, to some extent it was spontaneous.
Grasping the bottlenecks that hinder the development of agricultural real estate, the amended Land Law has made efforts to unblock them with new regulations.
Prof. Dang Hung Vo - former Deputy Minister of Natural Resources and Environment said that the 2024 Land Law speaks in great detail about the use of agricultural land, especially the use of agricultural land for non-agricultural purposes, combined with non-agricultural activities to increase farmers' income. The new law also allows businesses to transfer rice fields and invest in developing rice cultivation using high-tech, large-scale methods.
According to Mr. Vo, looking at agricultural land that is not the buffalo going first or the plow going behind, at this time agricultural land can completely increase productivity.
Analyzing the regulations on untying agricultural land, Associate Professor. Dr. Nguyen Quang Tuyen said that the 2024 Land Law raises the limit for transferring agricultural land of individuals from 10 to 15 times; allows individuals who are not directly engaged in agricultural production to receive the transfer of agricultural land use rights; stipulates that Vietnamese people residing abroad with Vietnamese nationality have the same rights and obligations as domestic individuals using land; stipulates that agricultural land can be combined with other purposes such as tourism, trade; add regulations on multi-purpose land... such regulations create an important legal premise to promote the agricultural real estate market segment.
"The law allows agricultural land users to combine with a number of other purposes such as commercial business, creating a legal premise, people with agricultural land not only use for agricultural purposes but have the opportunity to use it in combination with other purposes, making it easy for joint ventures to cooperate with investors.
Investors who are not directly engaged in agricultural production are allowed to receive transfers and access agricultural land use rights. This will open up opportunities, potential, and capital sources for the agricultural and agricultural real estate sectors. All create new life experiences, room for agricultural land to exploit its full potential, improve land use efficiency, make farmers increase the value of agricultural land, stick to agricultural land, avoid land abandonment.
As for investors finding opportunities in the agricultural land segment to invest and do business, bringing economic efficiency, this is an important legal premise to awaken potential, improve the efficiency of agricultural land use, and promote the development of this segment" - Mr. Tuyen said.
