Specific regulations regarding procedures and necessary documents for real estate transactions involving overseas Vietnamese are expected to be issued soon. — VNA/VNS Photo

Overseas Vietnamese (OV) are thrilled to hear about new provisions in the Land Law (revised) passed recently by the National Assembly (NA), which demonstrates the attention of the Party, the State, the Government, and the NA in ensuring equal rights between OVs and Vietnamese citizens residing inside the country to purchase and own land use right and houses in their homeland, said Vietnamese Ambassador in Hungary Nguyễn Thị Bích Thảo.

In a meeting with NA Vice Chairman Trần Quang Phương, who was on a working visit to European, the diplomat expressed the hope that specific regulations regarding procedures and necessary documents for real estate transactions involving OVs will be issued soon.

From a business perspective, Phạm Ngọc Chu, Vice Chairman of the Global Vietnamese Business Association and Chairman of the Vietnamese Business Association in Hungary, affirmed that businesses in Europe strongly support the law as it ensures equality between OVs and Vietnamese businesses and those living in the homeland in buying, selling, transferring, and inheriting land use right and houses in Việt Nam.

This will encourage Vietnamese citizens and businesses abroad to pour more investment in the homeland in all fields, he added.

In the meeting, NA Vice Chairman Phương affirmed that the Vietnamese community abroad is an inseparable part of the nation.

He also addressed numerous opinions from the community regarding such matters as restoring the Vietnamese nationality, issuing citizenship cards, increasing the number of scholarships for Vietnamese students, teaching the Vietnamese language, and preserving and promoting the Vietnamese culture in Hungary. — VNS