The laws that regulate land administration are hindering investment in construction projects, particularly in real estate, legal experts have said.
Overlapping and inappropriate regulations regarding investment and construction, coupled with poor management, largely contributed to the ineffectiveness of real-estate investments, Nguyen Viet Hoang of Ha Noi-based Cazpro Law Firm told participants at a workshop held in HCM City on Wednesday.
Another contributing factor was the weak enforcement of administration officers, Hoang said.
Workshop participants discussed several ways to overcome the obstacles involved in leasing and allocating land to real-estate companies.
A survey conducted by the Ministry of Transport in 2008 said construction of investment projects usually takes about three years, reflecting the time needed to fulfil about 33 administrative procedures.
“This is one of the main reasons for Viet Nam’s low ranking on the transparency of its real estate market, especially compared to other countries,” Hoang said.
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