Announcement of the President's Order on five laws

On the morning of July 23, in Hanoi, the Office of the President held a press conference to announce the Order of President To Lam promulgating five laws passed by the 15th National Assembly at its 7th session.

Before starting the program, delegates and journalists attending the press conference observed a minute of silence to pay tribute to General Secretary Nguyen Phu Trong to express their respect and infinite condolences.

At the press conference, by order of the President , Deputy Head of the Office of the President Pham Thanh Ha announced the Orders on promulgating the Law on the Capital; Law on amending and supplementing a number of articles of the Law on Property Auction; Law on amending and supplementing a number of articles of the Land Law, Housing Law, Real Estate Business Law, Law on Credit Institutions; Road Law; and Social Insurance Law.

Representatives of relevant ministries and branches introduced the basic contents and new points of the promulgated laws.

Building and developing a "Cultured-Civilized-Modern" Capital

Capital Law Consisting of 7 chapters and 54 articles, it takes effect from January 1, 2025.

The Law aims to institutionalize the Party's policies and guidelines on building, developing, managing and protecting the Capital, especially Resolution No. 15-NQ/TW on the direction and tasks of developing the Capital Hanoi to 2030, with a vision to 2045, which identifies the construction and development of a "Cultured-Civilized-Modern" Capital.

The Law on the Capital establishes a unique and outstanding mechanism; overcomes difficulties, obstacles and shortcomings arising to build and develop the Capital with the position and role as a political, administrative, economic and cultural center, towards a smart, modern, green, clean, beautiful, secure and safe urban area; develops rapidly, sustainably, and has a spreading power to promote the development of the Red River Delta, the key economic region of the North and the whole country.

Promote healthy development of real estate market

Land Law, Housing Law, The Law on Real Estate Business and the Law on Credit Institutions, passed by the 15th National Assembly, have institutionalized many new policies and guidelines of the Party and the State, overcome shortcomings and inadequacies pointed out in the process of summarizing implementation, and have many innovative and breakthrough regulations that have been summarized, evaluated, and piloted from the reality of the people and society, which are expected to create momentum for socio-economic development in the new period.

The early implementation of laws aims to overcome existing limitations, especially in land valuation, land recovery, compensation, and resettlement support; at the same time, create a synchronous legal corridor, free up land resources, promote healthy development of the real estate market, accelerate the implementation of investment projects, especially public investment projects, real estate projects, housing projects, especially social housing, create more favorable conditions for businesses and people in exercising their rights as land users, and protect the rights of people whose land is recovered.

The Law is structured into 5 articles, amended in the direction of allowing the Land Law, Housing Law, Real Estate Business Law, Clause 2, Article 209 of the Law on Credit Institutions to take effect from August 1, 2024.

Contents related to the management and use of national defense and security land combined with labor production and economic construction activities in Clause 2, Article 251 and Clause 4, Article 260 of the Land Law and transitional content in Clause 10, Article 255 of the Land Law related to investment projects in cases of land allocation and land lease not through the form of land use rights auction according to the provisions of the 2013 Land Law, for which investors have submitted valid dossiers to carry out procedures for selecting investors and project owners before August 1, 2024, are allowed to take effect before January 1, 2025.

Increase benefits for social insurance participants

Law on Social Insurance effective from July 1, 2025.

The Law has new points, focusing on supplementing social pension benefits; adding regulations to increase the connection between social pension benefits and basic social insurance; expanding the subjects eligible to participate and fully enjoy social insurance regimes; adding the right to enjoy sickness and maternity benefits for non-professional workers at the commune level; adding maternity benefits to the voluntary social insurance policy.

In addition, increasing the opportunity to receive pensions for social insurance participants; better ensuring the right to participate and enjoy social insurance for Vietnamese workers working abroad and foreign workers working in Vietnam; improving the efficiency of social insurance fund investment; regulating "reference levels" instead of "base salaries"...

The law has been amended and supplemented in many ways to increase benefits, increase attractiveness, and encourage workers to reserve their contribution time to receive pensions instead of receiving social insurance at one time.

Employees who have stopped participating in social insurance but have a request will receive a one-time social insurance payment if they fall into one of the following cases: Being old enough to receive pension but have not paid social insurance for 15 years; going abroad to settle down; people suffering from one of the following diseases: cancer, paralysis, decompensated cirrhosis, severe tuberculosis, AIDS; people with a labor capacity reduction of 81% or more; people with especially severe disabilities; employees who have paid social insurance before July 1, 2025, after 12 months are not subject to compulsory social insurance but also do not participate; voluntary social insurance and have paid social insurance for less than 20 years.

Workers do not enjoy social insurance If you reserve the payment period to continue participating, you will have the opportunity to enjoy higher benefits such as: When continuing to participate, you will enjoy higher benefits; you will receive pension with easier conditions; during the period of receiving pension, the social insurance fund will pay for health insurance; you will receive monthly allowance when you are not eligible for pension and not old enough to receive social pension; during the period of receiving monthly allowance, the state budget will pay for health insurance.

Negative restrictions in property auction activities

Law amending and supplementing a number of articles of Law on Property Auction effective from January 1, 2025.

The issuance aims to contribute to preventing and combating corruption, negativity and waste; continue to improve the professionalism and specialization of the auction team and property auction organizations; overcome limitations and shortcomings, ensure publicity, transparency and objectivity, promote the application of information technology and digital transformation in property auction activities; and improve the efficiency and effectiveness of state management of property auctions.

The Law supplements a number of prohibited acts for auctioneers, auction organizations, and people with auctioned assets, such as prohibiting the creation of false lists of auction participants, creating false records, and fake records participating in auction activities, and restricting individuals and organizations from participating in auctions that do not comply with regulations to enhance independence, objectivity, transparency, and minimize negativity in auction activities.

In addition, two new articles on online auctions and online auction procedures are added, which stipulate that online auctions are conducted through the National Asset Auction Portal or online auction information page, general principles for implementing online auctions and assign the Government to provide detailed regulations to further improve online auctions, contributing to improving objectivity, publicity, transparency, promoting the application of information technology and digital transformation in asset auction activities.

Achieving the goal of having 5,000km of highway nationwide by 2030

Road Law effective from January 1, 2025.

The Law focuses on three strategic breakthroughs: policy institutions, infrastructure, and human resources; at the same time, it addresses practical requirements with a smarter strategic vision, applying information technology in road activities and enhancing decentralization, delegation of authority, and administrative procedure reform.

Notably, Chapter III (on expressways) is a new and especially important chapter that stipulates the strategic breakthrough policy mechanism on expressways, removing obstacles in mobilizing non-budgetary resources to upgrade expressways in the phased planning phase, creating a legal corridor to achieve the goal of having 5,000km of expressways nationwide by 2030.

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