Proposing Some Solutions to Improve Policies and Laws on Land Use Rights of Overseas Vietnamese

Abstract

The overseas Vietnamese community constitutes an important resource for the nation’s development, in which economic contributions represent one of the most traditional and widespread forms of engagement. The substantial flow of remittances sent by overseas Vietnamese has significantly contributed to Vietnam’s socio-economic development by supporting and stimulating domestic production and business activities. Given the notable benefits derived from the expansion of land use rights for overseas Vietnamese, this reform can be regarded as a major advancement of the 2024 Land Law in attracting foreign investment to Vietnam. The expansion provides more favorable conditions for overseas Vietnamese to invest in their homeland’s real estate market while fostering linkages and investment cooperation between them and foreign-invested enterprises. Such collaboration is expected to promote joint business initiatives, strengthen the private sector, and accelerate the growth of innovative start-up enterprises. Furthermore, the attraction of foreign investment serves as a vital bridge for economic integration, facilitating the connection of the domestic economy with global production and business networks. Through this process, Vietnam not only gains access to advanced scientific and technological innovations, modern management practices, and global value chains but also broadens its market reach—creating opportunities for domestic products, goods, and services to enter the global market and affirm their position in the international arena.