Full text of Law on Capital 2024 available in Vietnam

Full text of Law on Capital 2024 available in Vietnam (Internet image)

Full text of Law on Capital 2024 available in Vietnam

On June 28, 2024, the National Assembly of Vietnam passed the Law on Capital 2024, which comes into force in Vietnam from January 1, 2025.

The Law on Capital 2024 stipulates the position, role of the Capital; policies, responsibilities for building, developing, managing, and protecting the Capital.

The transitional regulations of the Law on Capital 2024 are as follows:

- Officials at commune level elected or recruited before the Law on Capital 2024 comes into effect will be transferred to become officials as per the Law on Officials; these officials will be assigned annually within the administrative staff assigned to district level to continue their duties. If they move to new job positions, they must meet the standards and conditions as prescribed by law and be appropriate for the positions approved by the competent authority.

- Documents issued by the People's Council and the People's Committee of the ward before July 1, 2021, if not replaced or annulled by the competent authority, shall remain applicable.

Should documents of the People's Council of the ward or legal documents of the People's Committee of the ward issued before July 1, 2021, become unsuitable, the district-level People's Council and city-level town within the City will annul the documents of the People's Council of the ward; the district-level People's Committee and city-level town within the City will annul the legal documents of the ward-level People's Committee upon the proposal of the ward-level People's Committee.

- From the effective date of the Law on Capital 2024, it is not required to classify urban areas and review urban classification criteria for special urban areas when adjusting administrative boundaries or expanding the inner city to establish districts and wards of the City.

- Agencies, units, and establishments required to relocate their headquarters as prescribed in Clause 1, Article 9 and Point b, Clause 3, Article 15 of the Law on Capital 2012 that have completed new infrastructure investments but have not yet transferred the land fund to the City People's Committee must do so before December 31, 2025, for management and use according to the Law on Capital 2024.

Agencies, units, and establishments required to relocate as per Clause 1, Article 9 and Point b, Clause 3, Article 15 of the Law on Capital 2012 with approved relocation plans and post-relocation land use plans before the Law on Capital 2024 was passed shall continue to execute the approved plans.

From the passing date of the Law on Capital 2024, agencies, units, and establishments required to relocate as stipulated in Clause 1, Article 9 and Point b, Clause 3, Article 15 of the Law on Capital 2012 with no approved relocation plans and post-relocation land use plans shall follow the regulations of the Law on Capital 2024.

- Underground structures and underground parts of ground structures built or with construction permits before the Law on Capital 2024 takes effect are not required to apply for permits and pay for the use of underground space as regulated in Clause 2, Article 19 of the Law on Capital 2024.

Renovation and reconstruction of underground structures and underground parts of ground structures built or with construction permits, or adjustments to construction permits that alter the use of underground space after the Law on Capital 2024 takes effect must be licensed and pay for the use of underground space as per the Law on Capital 2024.

- Science and technology tasks funded by the City's budget and key science and technology tasks of the Capital, key regional linkage programs, and projects approved or contracted before the Law on Capital 2024 takes effect and not yet completed shall follow the regulations of the Law on Capital 2024.

- Enterprises, contractors, agencies, organizations, and units in need of employing foreign workers as stipulated in Point c, Clause 3, Article 24 of the Law on Capital 2024 that have been approved by competent authorities or issued work permits for foreigners at the Hoa Lac Hi-Tech Park prior to the Law on Capital 2024 coming into effect may choose to either report changes in foreign labor needs or proceed with renewal or reissuance of work permits through the Park's Management Board or the competent authority that initially approved or issued the work permits.

- Regarding electricity and water supply service contracts within the City signed before the Law on Capital 2024 takes effect, the contract parties are responsible for supplementing contracts or appendices to reflect content regarding the cessation of electricity and water supply services when required by competent authorities as prescribed in Clause 3, Article 33 of the Law on Capital 2024.

- Adjustments to investment policy decisions, approvals of investment policies for projects under Clauses 2, 3, and 4, Article 37 of the Law on Capital 2024 that were decided or approved before the Law on Capital 2024 takes effect shall be decided by competent authorities as outlined in Article 37 of the Law on Capital 2024.

- For investment projects under the decision-making authority of the City People's Committee as prescribed by the Law on Capital 2024, if they require an environmental impact assessment, and the report has been submitted to competent authorities for appraisal before the Law on Capital 2024 takes effect, the appraisal and approval of the result shall follow the law effective at the time of submission. For projects requiring environmental permits and whose applications have been submitted to competent authorities for permit issuance before the Law on Capital 2024 takes effect, the examination, appraisal, and permit issuance shall follow the authority, sequence, and procedures prescribed by law at the time of submission.

For full details, refer to the Law on Capital 2024, which comes into force in Vietnam from January 1, 2025.

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