Assurance of Market Principles in the Valuation of Land Use Rights when the State Recovers Land in Vietnam

Valuation of land use rights is one of the steps to ensure the lawful rights and interests of people whose land is recovered. In Vietnam, the state's valuation of land use rights upon land recovery is conducted and decided upon by competent state agencies. The process of industrialization and modernization to develop the country requires the State's valuation of land use rights upon land recovery to ensure the market principles. However, the 2013 Vietnam Land Law has yet to reflect this principle in the regulations on land use right valuation when the State recovers land. Therefore, the system of regulations on principles, subjects participating in the valuation of land use rights, and the process of conducting this activity must be completed to ensure the balance of interests between the State and the persons whose land is recovered. Through clarifying the concept of market principles when the State recovers land, the article proposes solutions to improve regulations on the principles, subjects, methods, and process of land use right valuation when the State recovers land in Vietnam.