Innovating regulations on land use bidding in the Land Law 2024

Abstract

Bidding in general and bidding for projects involving land use specifically are activities of a market economy with the principle of adopting a market economic model under state management, where land becomes valuable. Bidding for projects involving land use will help curb corruption in land allocation and leasing. Through bidding for projects involving land use with strict constraints on rights and obligations, many entities will have the opportunity to access and register to participate, allowing them to choose the land-use projects to bid on, and the investors with the best technical and financial capabilities to carry out the projects. Combined with existing land resources, projects will be implemented quickly and smoothly, bringing benefits to the state, investors, and society. However, organizing the selection of land-use projects for bidding at the local level still faces various issues such as lack of specific criteria for project selection, unclear coordination between land management agencies and related organizations, and challenges in land procedures such as land fund management, land clearance compensation, land recovery, compensation prices for land users, and land use forms for investors. Therefore, the Land Law 2024 has innovated legal provisions regarding bidding for land-use projects to enhance the efficiency of land management and utilization, ensuring a harmonious balance of interests among the state, investors, and land users in the context of Vietnam's international economic integration.