Vietnam is in the process of equitizing state-owned enterprises. It is inevitable to rearrange, restructure and improve the operational efficiency of this type of enterprise. The equitization of state-owned enterprises is the seventh group to promote the development of the economy in a state of balance, in which an indispensable factor in the development of the country in the current market economy is the right to use the land. In the process of equitizing state-owned enterprises, the determination of land price is considered a key and decisive step, because this step ensures the equitization roadmap and the recovery of state capital and prevents losses. So the question here is how the land price applied to equitized state enterprises is considered reasonable? At point d, clause 4, Article 114 of the Land Law 2013, the determination of land prices is made according to the process of specific land prices, however, the Land Law 2013 and its guiding documents cannot cover this entire complex and sensitive field. This article clarifies the theoretical basis for the land price, equitization and the legal basis for principles, conditions, authority, objects, and procedures for determining land price when equitizing state-owned enterprises. On this basis, the authors will suggest orientations and solutions to improve the law on land valuation in the process of equitizing state-owned enterprises in Vietnam