30% land-use fee cut extended through 2023

Green-lighting a proposal made by the Ministry of Finance two weeks ago, it said this year many sectors such as property, agriculture and mining are set to face challenges due to tightened spending and falling demand, and it is necessary to support them.

Last year the cut was equivalent to VND3.5 trillion (US$149.33 million).

Land is owned collectively in Vietnam, and people can only acquire land-use rights for properties. They need to pay rent for the rights to the government.