Finance ministry wants cut in land-use fees

It said this year many sectors such as property, agriculture and mining are set to face challenges due to tightened spending and declining demand, and so the is necessary to support them.

Last year the reduction left VND3.5 trillion (US$149.33 million) in the hands of property owners.

Land in Vietnam is collectively owned by the people, and those who acquire land-use rights for a property need to pay fees to the government.