On May 7, Khanh Hoa Provincial People’s Committee Chairman Le Duc Vinh signed a document to the Department of Natural Resources and Environment (MONRE) about the suspension of conversion of land use purposes, separation of land plots and transfer of land use rights in the area. Planning the construction of administrative units, special economic Bac Van Phong (Van Ninh district).
The People’s Committee of Khanh Hoa province also directed the Department of Natural Resources and Environment to coordinate with Justice, Construction, Management Board of Van Phong Economic Zone, People’s Committee of Van Ninh district to consult and draft documents of the provincial People’s Committee To stop the change of land use purpose, to separate land plots and transfer land use rights in Van Ninh district until the general planning for the construction of the special administrative-economic unit of Van Phong.
According to Khanh Hoa province’s leaders, detailed planning on construction of Van Phong special zone has not yet been approved by the competent state agency. However, over time the land consolidation, the price of this place becomes “hot”, complex. The province has agreed to suspend all transactions related to the change of land use purpose, thereby limiting the status of “virtual” land here.
Previously, the Ministry of Construction has written to the People’s Committees of Quang Ninh, Khanh Hoa and Kien Giang, recommend management, stabilize the real estate market, avoid speculation, create bubbles because these are local selecting to build the first special economic zone model in the country.
Three special economic zones are Quang Ninh with Van Don, Khanh Hoa with Northern Van Phong and Kien Giang with Phu Quoc. The ministry has asked the 3 provinces to check and clarify the causes of market volatility. In addition, it is necessary to inspect and strictly handle cases of violation of land law, the law on real estate business and take necessary measures to stabilize the market.
It is expected that in May, the National Assembly will give comments and consider adopting Van Don Special Administrative – Economic Law, Northern Van Phong and Phu Quoc. The law will create a premise for the establishment of future special zones.
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