Land rent reduced by 30 percent in 2023

Viet Nam Deputy Prime Minister Lê Minh Khái has recently signed Decision 25 by the Prime Minister, which aims to reduce land rent in 2023. Enterprises, households, and individuals who lease land directly from the State will receive a 30% reduction in land rent this year.

The reduction is calculated based on the land rent amount in 2023. If the tenant is already receiving a reduction or deduction of compensation and site clearance as per regulations, this 30% reduction will be calculated based on the adjusted land rent amount. The decision will come into effect on November 20.