The Ministry of Justice will submit a draft Decree to the government amending and supplementing a number of articles on online auctions. The draft stipulates the order for conducting online auctions and establishing a unified online auction site nationwide that will be built, operated, and managed by the Ministry.

According to Standing Member of the Party Central Committee’s Secretariat Vo Van Thuong, many new issues are contained in the revised draft Land Law that will create positive changes, such as the abolition of land price brackets and the determination of land prices according to market principles. He suggested striving to complete the amendments by 2023.

Amendments to the Law on Housing are a “large and difficult” issue because they need to promote development investment, but if not done properly could cause losses of land resources, according to Minister of Planning and Investment Nguyen Chi Dung. He proposed developing a separate pilot project, for submission to the National Assembly in May.

Under a recent Circular from the State Bank of Vietnam (SBV), banks must stop entering into interest rate derivative contracts if previous net losses exceed 5 per cent of charter capital. These banks must report to the central bank on the cause of the losses and remedial measures and timeframes.