The 6th meeting meeting session of the 15th NA: Provincial-level NA deputies comment on the bill on Real Estate Business (amended) and socio-economic development results

Continuing the 6th meeting meeting session, on the morning of October 31, at the NA (NA) House, under the chairmanship of NA Chairman Vuong Dinh Hue, the NA discussed a number of controversial contents of bill on Real Estate Business (amended).

Vice Chairman of the NA Nguyen Duc Hai moderates the meeting

Moderating the meeting, Vice Chairman of the NA Nguyen Duc Hai stated that at the 5th meeting session, the NA discussed in groups and together about the bill on Real Estate Business (amended). The NA Standing Committee organized a specialized meeting of NA deputies to discuss this bill.

The bill has been sent to the Government and NA delegations for comments. The Vice Chairman of the NA requested deputies to focus on discussing the contents mentioned in the report explaining, receiving and revising the bill and contents such as scope of adjustment, consistency with the law system, real estate trading floors, real estate market regulation, deposit payments in buying, selling, leasing future housing projects… and other contents within their interests.

At the discussion, there were 25 comments, 5 debating opinions related to the controversial content  of the bill on Real Estate Business (amended). Chairman of the Economic Committee Vu Hong Thanh explained and clarified a number of issues raised by NA deputies.

Deputy Trieu Quang Huy, Deputy Head of the Lang Son Provincial NA Delegation, expresses his opinions about the bill on Real Estate Business (amended)

On the bill on Real Estate Business (amended) at the meeting, Deputy Trieu Quang Huy, Deputy Head of the Lang Son Provincial NA Delegation, expressed his agreement with many contents of the bill and the report on explanation, reception and revision of the bill.

Regarding the principles of housing business and future construction projects, Deputy Trieu Quang Huy agreed with option 1. Specifically, real estate project investors can only receive deposits from customers when the house or construction project is qualified for business and transactions have been carried out in accordance with the law. He said this option to be appropriate, less risky for customers…

Regarding payment regulations in buying, selling, renting houses and construction projects built in the future, Deputy Trieu Quang Huy chose option 1 to unify management and harmonize interests of investors and customers. Specifically, if the buyer or lessor has not been granted a Certificate of land use rights and ownership of housing and other assets attached to the land, the seller or lessor must not collect more than 95% of the contract value. The remaining value of the contract is paid when the competent state agency has issued a Certificate of land use rights, ownership of houses and other assets attached to land to the buyer or lessee.

In the afternoon of the same day, the NA discussed the results of socio-economic development plan in 2023, expected socio-economic development plan for 2024, mid-term assessment of the socio-economic development plan for the period 2021-202, economic restructuring plan for the period 2021-2025, results of implementing Resolution No. 43/2022/QH15 on fiscal and monetary policies to support the socio-economic recovery and development program, Government’s report on piloting a number of specific mechanisms and policies to develop Da Nang city, results of reviewing the system of legal documents according to the Resolution No. 101/2023/QH15 on the 5^th meeting session of the 15th NA.

Deputy Pham Trong Nghia, Lang Son Provincial NA Delegation, speaks at the conference hall about socio-economic development targets

Speaking at the hall, deputy Pham Trong Nghia, Lang Son Provincial NA Delegation highly appreciated the results achieved in the first 9 months of 2023, however, there have been 5/15 targets assigned by the NA that have not been achieved as planned, in which social labor productivity growth target have not been met for 3 years in a row. He was concerned about the deceasing average labor productivity growth rate and it was becoming lower than the average level of the previous period. Therefore, the he requested the Government to additionally evaluate the 3 causes mentioned in the Government’s report No. 577, to identify responsibility and to propose drastic solutions for this indicator.

Regarding economic openness, Vietnam is one of the countries with the fastest and largest increase in economic openness in the world. He emphasized that, in addition to the positive aspects, a highly open economy without good policy solutions would lead to many consequences. Therefore, he requested the Government to specifically assess the impact of economic openness on our country, to determine the appropriate openness as well as the need and mechanism to control the openness of our country’s economy. Thereby, solutions to build a more autonomous and adaptable economy from the perspective of promoting internal resources as the decisive factor associated with external forces and the strength of the era would be carried out.

Regarding solutions in the coming time, he recommended a careful review to ensure continuity, connection and reciprocity in reports, especially on causes and lessons learned as well as solutions and responsibilities. Based on the review, it was recommended that the Government determine central, key and breakthrough solutions for implementation with high feasibility and without overwhelmed spread. In particular, the deputy suggested that the NA pay attention to 3 groups of solutions to increase domestic demand, to develop the domestic market and to continue reducing taxes, fees and charges for people and businesses. He agreed to extend the VAT reduction period until June 30, 2024. Additionally, he recommended that the Government direct the National Wage Council to conduct early negotiations to increase the minimum wage for workers from July 1, 2024 at the same time as the implementation of wage reform in the public sector. Moreover, regarding administrative procedure reform, in this meeting session, the NA requested a general review of administrative procedures in all fields, focusing on areas related to investment, production and business, innovation and creativity for report at the 7^th meeting session.

For the third group of solutions, the deputy requested the Government to urgently develop and submit to the NA for promulgating laws or resolutions on regional development and strengthening regional connectivity as a legal basis for institutionalization of the views of the Party that soon to be realized.

In addition, the deputy also asked the Government to consider submitting solution to the NA on reducing normal working hours for workers in the private sector from 48 hours/week to 44 hours/week, moving towards 40 hours/week as in the private sector (which has been implemented since 1999). This is also the progressive trend of most countries in the world. The deputy hoped that NA members would pay attention and support this regulation.