News about asset auctions

Prime Minister Lê Minh Hưng called for tight control over the prices of social housing and rental housing so that low-income people and policy beneficiaries can access homes without unreasonable or sudden increases. Speaking during a National Assembly group session on the draft amended Law on Asset Auctions, he said auction procedures must be carefully reviewed against related laws, including the Land Law, Housing Law and Real Estate Business Law. He noted that auctioning land-use rights is key to allocating land to investors, and localities will set land price frameworks and adjustment coefficients. He also warned that unclear or incomplete implementing rules would make it hard for localities to apply the law.