Vietnam Land Market: Definitions, Characteristics, and Effects

Abstract

The land is a vital resource, and the world’s powers that want to develop must rely on land as their core. Vietnam is in economic renewal, so whether the country can produce as expected or not depends on how land is used. The land conversion is continuously changing, leading to the constant volatility of the land market. Besides, the land is a unique commodity, and in a socialist country like Vietnam, only land use rights can be bought and sold. The article uses descriptive and explanatory methods to highlight the results that need research. This article also shows Vietnam’s land market characteristics through the primary market and the secondary market. This market decentralization creates a two-price mechanism, meaning that a piece of land is priced differently depending on the organization that uses it. This mechanism has created difficulties in producing an available land bank, leading to a reduction in investment attraction in this potential country.

The impacts of land acquisition on household's livelihood in Vietnamese metropolitan regions

“…Proper allocation of natural resources, especially land, must be considered to facilitate quality development. Vietnam has a low average land area per capita because of the high population per agriculture area ratio, and the demand for the industry, urban areas, and infrastructure has rapidly increased (NGUYEN, 2021). The area of agricultural land per capita in Vietnam is 0.25 ha.…”

“…Households indirectly affected by the project construction without any support are always a shortcoming. The above things happen in Danang and occur in many parts of Vietnam, such as Vinh city and Quang Binh (NGUYEN ET AL., NGUYEN, 2021). This problem shows that the state should have more specific and detailed regulations on the issues mentioned earlier to solve these shortcomings.…”

“…In the other part of the world, the conversion of land from agriculture to industry leads to the loss of jobs and households income in the short term in Vietnam (NGUYEN ET AL., 2019). In the long term, the conversion of too much agricultural land can lead to dangers related to food security and quality of life in both rural and urban areas in this coutry (Nguyen, 2021). A negative effect of this problem is also seen in Indonesia, where a reduction in arable land is associated with a decrease in income (NURPITA ET AL., 2017).…”

“…In Asia, in the Association of Southeast Asian Nations (ASEAN) countries, six states (Thailand, Malaysia, Indonesia, Philippines, Cambodia, and Timor-Leste) choose to have multiple land ownership (MARCUS ET AL., 2013). Two countries maintain all-people ownership systems, namely, Laos and Vietnam (MICHAEL, 2017;NGUYEN, 2021). Only Myanmar retains the complete state ownership system (FAO, 2016).…”