(VOVworld)- National Assembly deputies on Friday adopted the revised Land Law with 89.96% in favor. The revised Land Law, which has 14 chapters and 212 articles, stipulates that all land belongs to the people with the State as their representative for the purpose of land management. The State grants land use rights to users under the regulations of the law. The State can appropriate land for purposes of national defense, security, socio-economic development, and other national or public interests. Illegally acquired land and land that endangers people’s lives can also be confiscated. The State compensates for appropriated land by giving people similar land or a cash payment calculated on the current price of land at the time the Provincial People’s Committee claimed the land. Land compensation should be carried out in a democratic, transparent and timely manner. The state also stipulates the principles of land pricing.

The same day, the deputies discussed the revised Law on Bankruptcy.