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Applying the Lessons Learned from the Economics Nobel Prize 2020 to Land Use Right Auction in Vietnam

Pham Ngoc Huong Quynk, Nguyen Thi Ngoc Mai

Inżynieria Mineralna

2021

no. 2

217--225

This paper mainly relies on qualitative research methodology and secondary data. The paper examines the existing legal framework for land use right auction in Vietnam and its practical implementation, focusing on acquiring agricultural land for non-agricultural purposes. It shows the limitations of sharing information and the disadvantages in distributing and balancing the benefits among different stakeholders who participated in the land use right auction. Also, this paper analyses and propounds the key lessons learned from the 2020 Economics Nobel Prize in creating the information sharing and benefit-sharing mechanism among participants. The paper applies these lessons learned from the 2020 Economics Nobel Prize to create a foundation for policy change the legal regulations of land use right auction in Vietnam in order to bring benefits to households, investors, and the State.