The workshop connected leading experts in the field of real estate and technology to analyze, discuss and provide lessons learned for Vietnam. Attending the seminar were Dr. Nguyen Dac Nhan - Deputy Director of the Land Department, Ministry of Natural Resources and Environment, ASS. Dr. Nguyen Anh Thu - Vice Rector of the University of Economics and Business, VNU and experts and representatives of corporations and businesses in the field of real estate and technology.

In 2024, an important milestone was marked with the passage of the Land Law 2024 in Vietnam. Particularly noteworthy, on May 17, 2024, the Government issued Resolution No. 73/NQ-CP, approving the proposal to amend and supplement Article 197 of the Housing Law No. 27/2023/QH15 and Article 82 of the Real Estate Business Law No. 29/2023/QH15. These amendments will take effect from July 1, 2024, six months earlier than originally planned.

At the opening of the event, Associate Professor Dr. Nguyen Anh Thu, Vice Rector of the University of Economics and Business - Vietnam National University, Hanoi (UEB), emphasized the significance of the workshop in light of the substantial changes in the Land Law 2024. These changes focus on various issues such as land leasing, compensation and support regulations for land recovery, land use rights auctions, land use project bidding, principles for determining land prices, specific land price lists, and exemptions or reductions in land use fees and rents. These changes are expected to significantly impact Vietnam's real estate market.

Associate Professor Dr. Nguyen Anh Thu also assessed the real estate market in Vietnam for 2024, highlighting significant opportunities that require concerted efforts and collaboration from various stakeholders. Government bodies, businesses, research institutions, universities, and communities need to work together to build an efficient and sustainable real estate market. UEB, having successfully organized numerous international and national workshops, aims to contribute substantially to enhancing transparency in the real estate market through appropriate policies and proptech technologies. This will lay the groundwork for further extensive research and collaboration between UEB and its partners including government agencies, businesses, associations, and other universities nationwide.

During the workshop, Dr. Nguyen Dac Nhan, Deputy Head of the Land and Environment Department, Ministry of Natural Resources and Environment, stated that the timely theme of the workshop provided a crucial platform for experts to exchange insights amidst the changes in the Land Law and the real estate market. This forum is regarded as a credible channel contributing to the integration of the Land Law into practical applications.

The real estate ecosystem operates based on interaction and connectivity among its components, including real estate enterprises, state management agencies, investors, customers, support services, and proptech applications. These components mutually influence each other and collectively drive the development of the real estate market. In some countries and territories, the real estate ecosystem is increasingly robust and plays a pivotal role in the economy. It enhances business efficiency, improves customer experiences, and stimulates real estate market growth.

With two specialized sessions and policy discussion panels, experts and speakers provided multidimensional perspectives, painting a comprehensive picture of the current Vietnamese real estate landscape. During the keynote sessions, speakers discussed key topics such as the real estate ecosystem and geospatial theory in land valuation, R&D in real estate, proptech applications in policy-making, and sustainable development of Vietnam's land and real estate markets: current status and solutions.

The amended Real Estate Business Law aims to strengthen market regulation in complex situations that could impact economic and social stability. The government will regulate the market through programs, plans, and policies concerning land, taxes, finance, and credit to promote sustainable market development. The new law also focuses on regulating the activities of credit institutions, foreign bank branches, and companies involved in debt and asset management, particularly in asset-backed debt recovery. Additionally, the law provides detailed provisions on permissible types of real estate and real estate projects for business purposes, as well as land use rights and business conditions for organizations and individuals. These updates include limits on customer deposits and clear regulations on the responsibilities of parties involved in real estate transactions. The law also regulates real estate trading floors and brokers, requiring licenses and operational records from state management agencies, while setting new conditions for individuals wishing to engage in real estate brokerage.

The success of the National Scientific Workshop "Building an Efficient, Transparent, and Sustainable Real Estate Ecosystem: From Geospatial Theory to Proptech" not only reaffirms the credibility, status, and mission of the University of Economics and Business - Vietnam National University, Hanoi in the fields of Economics, Business, and Management but also contributes valuable policy recommendations and lessons learned for Vietnam. It contributes to building and developing an effective, transparent, and sustainable real estate market.