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| At a workshop titled “Review of the practical implementation of Government Decree 99/2022/ND-CP of November 30, 2022, on registration of security interests in the southern region”__Photo: https://dktructuyen.moj.gov.vn/ |
The National Agency for Secured Transactions Registration and State Compensation under the Ministry of Justice, in coordination with the Ho Chi Minh City Department of Justice, on April 21 organised a workshop titled “Review of the practical implementation of Government Decree 99/2022/ND-CP of November 30, 2022, on registration of security interests in the southern region”, in Ho Chi Minh City.
In his opening remarks, Le Ve Quoc, Director of the National Agency for Secured Transactions Registration and State Compensation, noted that, after more than three years of implementation, Decree 99/2022/ND-CP has contributed to improving the legal framework, promoting the development of the system for registration of security interests in a more modern, transparent and efficient manner, while enhancing access to and enjoyment of public services on secured transaction registration for individuals and enterprises.
However, practical implementation has also revealed a number of shortcomings and limitations. Specifically, the decree has not yet comprehensively regulated legal issues in line with new policies and guidelines of the Party and the State, particularly those relating to digital transformation and the provision of end-to-end online public services; the registration mechanism has yet to fully meet the development requirements of new economic models such as fintech, artificial intelligence, virtual assets and cryptoassets as well as the demands of economic, financial development and international integration.
In this context, the workshop was organised to provide a forum for dialogue, exchange and discussion in order to comprehensively assess the practical implementation of Decree 99, identify difficulties and obstacles, and propose solutions for amendment and improvement.
The workshop focused on reviewing implementation results and identifying limitations of Decree 99 from both the perspective of state management and the practice of secured transaction registration, while proposing contents requiring amendment and supplementation.
According to a presentation by the Ho Chi Minh City Land Registration Office, the implementation of Decree 99 has shown clear improvements, contributing to ensuring the consistency and uniformity of the legal system and improving the quality of public service provision.
From January 15, 2023, to December 31, 2025, the office received and processed 17,407 applications for registration of security interests involving land use rights and assets attached to land. The handling of administrative procedures was carried out in accordance with competence, procedures and timelines, “without introducing additional procedures beyond those prescribed by the decree”.
In addition, the implementation of the single-window and inter-agency single-window mechanisms, together with the application of information technology, has contributed to promoting digital transformation and enhancing the effectiveness of state management in the field of secured transaction registration.
However, the presentation also pointed out a number of difficulties and obstacles. Notably, the registration of mortgages over land use rights in housing development projects has encountered challenges where projects have not yet been implemented or land has not been put into use, posing a potential risk of land recovery under the 2024 Land Law.
Furthermore, the registration of notices on the handling of secured assets in real estate projects where the status of land use has changed, or where assets have been transferred or contributed as capital, has also given rise to various shortcomings, which “may lead to complaints, disputes and litigation in the future”.
Based on practical experience, participants proposed a number of recommendations to improve the legal framework, including enhancing digitalisation and data connectivity, simplifying administrative procedures, as well as issuing specific guidelines for certain cases in which registration remains problematic.
The outcomes of the workshop are expected to serve as a “highly important practical basis” for competent authorities to study and propose amendments to improve the legal framework on secured transaction registration, with a view to early formulating a new decree to replace Decree 99.- (VLLF)
