1. VIETNAM IN
MOTION
The Transformation Process for
Fair and Equal Urban Land
Rights
Thanh Nguyen
Radboud University Nijmegen
School of Management
Department of Human Geography and Spatial Planning
The Netherlands
tel.: +1(808)280-3073
e-mail: thanhgems@gmail.com
The 13th Annual East-West Center International Graduate Student Conference
February 14-15, Honolulu

2. Conclusion Chapter From Dissertation:
RECOGNIZING OWNERSHIP
FACTOR
2013
Land
Law
2003
Land
Law
1993
Land
Law
1988
Land
Law
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3. PROPERTY RIGHTS IN VIETNAM
 Timeline of the Vietnamese Ownership Certificate
1929 1965 2013
2003 FEBRUARY 13, 2014EW C-HONOLULU 3

4. RECOGNIZING OWNERSHIP
FACTOR
State
Housing
8%
Pink paper
5%
Legal Paper
22%Without Legal paper
58%
Unclear original paper
3%
Other type ownership
4%
Certificate of Property in Ho Chi Minh City
Source: Thanh Nien Newspaper 10/24/2006
2013: 98% legalized
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5. OUR STUDIES
 QUESTION #1. A level playing field for foreign and domestic
investors?
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6. PHYSICAL
RESULT
 160 observations:
 59 foreign investment
projects ( foreign
companies; and joint
ventures)
 101 domestic investment
projects (state companies
and private domestic
companies)
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7. 3D ELLIPSOID.
 +: Foreigner
 o: Local
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8. CONCLUSION 1
 International investors have entered the market
alongside domestic ones
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9. A TRAGEDY OF THE
ANTICOMMONS
 QUESTION #2. How land use rights change hands
in HCMC under the process of the privatization of
property rights
Case study 1
Case study 2
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10.  History Development of the 240 Le Thanh Ton st. House
Possible outcomes for Kumho in negotions over Kumho
Plaza FEBRUARY 13, 2014EW C-HONOLULU 10

11. CONCLUSION 2
 Anticommon creates opportunities for investors to capture the
plus values that automatically appear in situations of the
underutilization of resources
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12. VALUE CAPTURING
 QUESTION #3. How some developers in Ho Chi Minh City, Vietnam,
were able to take advantage of ambiguous land-using rights for their
own financial gain?
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13.  Time Square: Korean 39 floor --- 45 floors
 The Lancaster: Vietnamese 12 floor ---24 floors
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14. Times Square is much
higher than other
buildings in area
40 years - Long term lease
In both cases the developers were allowed
profitable adjustments to the original plans
without being charged any exaction fee at
all
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15. CONCLUSION 3
 The core issue of how well standardized procedures and
regulations capture value into the development and planning
process
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16. FINAL THOUGHTS
 Privatization unlocking property value
 “Land use rights and building ownership” of Vietnam is quite
similar to real estate ownership in other capitalist countries
“The issue is not one of ownership over property rights per se but the
manner in which the relations between market and state are resolved
over time” (Kirby, 2013)
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