Lawmakers debate real estate, budget, nuclear project changes
The draft revised real estate law is intended to turn Party and State guidelines into statute, codify tested resolutions that have been tested in practice, and shift power under the two-tier local administration model.
Lawmakers are set to debate real estate regulations, budget policies, and alterations to the Ninh Thuan nuclear power project during the 16th National Assembly's plenary session. The draft law on real estate aims to transform guidelines into law, codify proven local practices, and redistribute power under the two-tier administration model.
It seeks to reduce investment requirements, expedite digital transformation, enhance market transparency, and streamline processes. Under the current proposal, provincial People's Committees will have the authority to approve transfers of real estate projects, instead of the Prime Minister. The bill also proposes to minimize nine investment conditions and procedures, and seven others, while foreign entities can only purchase houses and non-land-related construction.
The afternoon session will focus on drafting a consolidated State Budget Law, a resolution on income tax cuts, and separating the Ninh Thuan nuclear power project into independent components. The 2025 State Budget Law and the 2024 Public Investment Law have been recently revised to grant localities more autonomy, reduce overlaps in authority and procedures, and streamline the public financial management system.
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