NA deputies vote on the Government's proposal to bring forward the effective date of three major laws. — VNA/VNS Photo Bùi Doãn Tấn

HÀ NỘI — The National Assembly (NA) has voted to enact three major laws - Law on Land, Law on Housing and Law on Real Estate Business- starting August 1, 2024, five months earlier than planned.

The decision comes after a vote during the 7th session of the 15th National Assembly where 404 out of 469 (83.3 per cent) deputies favoured bringing forward the effective date of the three laws.

Vũ Hồng Thanh, Chairman of the NA's Economic Committee, said the early implementation will address the ongoing challenges in land management, particularly issues related to valuation, acquisition and resettlement compensation.

Regarding the concerns that the change of date could put provinces and cities in a tight spot as they have to hastily issue sub-law documents to keep pace with the change, he said there is still sufficient time for them to finalise sub-law documents to meet the deadline.

The NA's Standing Committee has urged the Government to closely oversee the issuance of the sub-law documents to prevent delays or gaps in enforcement.

On the same day, certain clauses of Articles 200 and 210 of the Law on Credit Institutions were also enacted earlier to ensure seamless operations of the institutions. — VNS