Laos government to address property concerns like foreign purchase
The Lao Front for National Development (LFND) raises the need to address land disputes and compensation
According to Laotian Times, the Lao Front for National Development (LFND) has requested the National Assembly to tackle land disputes, as well as land acquisition without development, across the country.
Large areas of prohibited land, forest land, and public land have been secured by businesses without compensation or fees paid to the government.
In many cases, the land has also been appropriated while the developments are stalled or even not begun at all.
Khamchan Phomsengsavanh, vice president of the Lao Front for National Development, gave voice to a variety of topics in the Second Ordinary Session of the National Assembly’s Ninth Legislature, including the problem of the acquisition of land.
“Some local people have no land on which build a shelter and grow their crops – they have no secure income and live in poverty,” she said.
She added that agricultural areas affected by construction projects are also not compensated, for the loss of crops, according to state criteria.
“For example, in Saysettha District of Vientiane Capital, a land acquisition dispute between the Nam Tha Bridge and Road Construction Company and some 126 villagers in Xiengda has been a major problem for many years but has yet to be addressed,” noted Khamchan.
More: Options for foreigners interested in purchasing property in Cambodia
Moreover, she also mentioned the issue of the foreign purchase and sale of property through Lao nominees, which has resulted in many being defrauded and tough disputes.
“The government should properly monitor, inspect, and re-allocate land in a methodical manner, as well as making adequate efforts to assist in the resolution of specific land disputes,” she added.
The Property Report editors wrote this article. For more information, email: [email protected].
Recommended
Rental markets surge in Asia as digital nomads find new opportunities with visa reforms
As countries in Asia roll out customised visa programmes, rental markets are thriving with the influx of remote workers
China’s hospitality market thrives as developers sell off assets to spark recovery
China’s indebted developers are divesting hospitality assets to generate growth and enhance the outlook of the country’s real estate market
Meet the Bitkub CEO turning real estate on its head with cryptocurrency and tokenised ownership
Jirayut “Topp” Srupsrisopa, CEO of Thai crypto exchange Bitkub, is a true believer in the potential of digitised finance
6 sights to spot in Jardine’s Lookout, Hong Kong
With its sumptuous harbour vistas, this low-density area is one of the most sought-after in Hong Kong