Vietnam to reform land acquisition rules to boost economic growth

Hanoi, Vietnam - The Vietnamese government has proposed reforms to its land acquisition rules with the aim of accelerating economic growth and infrastructure development. The amendments, currently under debate, would allow land to be taken and construction to commence before affected residents receive full compensation. This move is in response to delays on major projects, such as a Trump family-owned golf resort and a redevelopment plan for Hanoi's Red River corridor, which have been stalled due to disputes over compensation and resettlement.

The government believes these changes will help overcome institutional bottlenecks and unlock much-needed land resources to support its ambitious goal of double-digit growth through 2030. Currently, Vietnam aims to achieve an annual economic growth rate of at least 10% to capitalize on demographic trends before they begin to impede its growth potential.

The proposed amendments would also prioritize the resettlement of residents in the same locations where their land is acquired, introducing clearer criteria for land acquisitions and adopting more transparent, data-driven methods for valuing land.