Supplementing peculiar mechanism for investment management of industrial clusters in Da Nang, Vietnam

On June 20, 2022, the Government of Vietnam issued Decree 40/2022/ND-CP roviding for a number of peculiar mechanisms relating to investment, finance, budget and management of Da Nang, in which additional peculiar mechanism for investment management of industrial clusters in Da Nang is added.

Supplementing peculiar mechanism for investment management of industrial clusters in Da Nang, Vietnam (Illustration)

The Decree has added peculiar mechanism for investment management of industrial clusters in Da Nang, Vietnam as follows:

- The People's Council of Da Nang, Vietnam may consider and decide to invest in an industrial cluster in the area of ​​Da Nang city from the city budget if the investor in the technical infrastructure of the industrial cluster cannot be selected according to regulations. current regulations.

Public service organizations that are assigned as an investor in the construction and business of technical infrastructure of an industrial cluster may lease land from the State for project implementation, or sub-lease the land after the investment in industrial cluster infrastructure is completed.

- The People's Committee of Da Nang, Vietnam is assigned to prescribe the financial mechanism, the authority to determine and decide the rental price, and the lessee for public service units assigned as investors in the construction and business of technical infrastructure of industrial clusters.

Decree 40/2022/ND-CP takes effect from August 15, 2022.

Diem My

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