Newest regulations on the announcement of land-based investment projects in Vietnam

Newest regulations on the announcement of land-based investment projects in Vietnam (Image from the internet)

On September 16, 2024, the Government of Vietnam issued Decree 115/2024/ND-CP providing detailed regulations on certain articles and measures for implementing the Bidding Law regarding the selection of investors for projects involving the use of land.

Newest regulations on the announcement of land-based investment projects in Vietnam

According to Articles 10 and 11 of Decree 115/2024/ND-CP, the announcement of land-based investment projects in Vietnam is regulated as follows:

* Announcement of land-based investment projects for projects subject to investment approval in Vietnam

- Based on the list of land plots for which the provincial People's Council has decided to conduct bidding for land-based investment projects, the competent state agencies or investors shall prepare the application for approval of the investment policy as the basis for implementing procedures for investment policy approval.

- The competent authority shall establish, and assign user accounts to relevant agencies, units, and professional bodies for posting the investment policy decision on the National Bidding Network System as stipulated in point a, clause 2, Article 47 of the Bidding Law 2023 within no more than 05 working days from the date of the investment policy decision.

* Announcement of land-based investment projects for projects not subject to investment approval in Vietnam

(1) For projects organized and implemented by competent authorities:

- Based on the list of land plots approved by the provincial People's Council for bidding for land-based investment projects, the competent authority shall assign agencies or units under ministries, ministerial-level agencies, specialized agencies, agencies under the provincial People's Committee, Economic Zone Management Boards, and other agencies as regulated by the sectoral management law; the district-level People's Committee shall organize the preparation of project proposals including contents specified in points b, c, d, dd, and e clause 2 Article 47 of the Bidding Law 2023 ensuring compliance with Article 4 of Decree 115/2024/ND-CP;

- The agency or unit assigned tasks under point a of this clause shall present the project information to the competent authority for approval. The document approving the investment project with land usage includes the contents specified in points b, c, d, dd, and e clause 2 Article 47 of the Bidding Law 2023;

- The competent authority shall establish, and assign user accounts to relevant agencies, units, and professional bodies for posting the project information on the National Bidding Network System within not more than 05 working days from the date of approval.

(2) Investors can propose to implement land-based investment projects outside of the approved projects announced as stipulated in (1), except in cases where sectoral management laws specify that investors are not allowed to propose projects. The contents of the project proposal, procedure for project proposal preparation, and project information approval process are as follows:

- The investor prepares a project proposal containing the contents specified in points b, c, d, and e clause 2 Article 47 of the Bidding Law 2023 and the corresponding contents specified in points a, b, and c clause 1 Article 33 of the Investment Law 2020. The investor shall bear all costs for preparing the project proposal;

- For investment projects where the provincial People's Committee is the competent authority, the investor submits directly or via mail 04 sets of the project proposal to the Department of Planning and Investment. Within 03 working days from the date of project proposal receipt, the Department of Planning and Investment reports to the Chairman of the provincial People's Committee for assigning a specialized agency to consolidate and review the investor's project proposal.

For investment projects where ministries, ministerial-level agencies, Economic Zone Management Boards, or other agencies regulated by sectoral management laws are the competent authorities, the investor submits directly or via mail 04 sets of the project proposal to the agency or unit assigned by the Minister, Head of the ministerial-level agency, Head of the Economic Zone Management Board, or the head of another agency to receive and review the investor's project proposal.

If ministries, ministerial-level agencies, the provincial People's Committee, the Economic Zone Management Boards, or other agencies have issued a decision assigning an agency or unit to receive project proposals, the investor shall submit to that agency or unit.

- Within 25 days from the date of being assigned tasks, the agency or unit specified in point b, clause 2, Article 11 of Decree 115/2024/ND-CP shall cooperate with relevant agencies to review the project proposal's compliance with Article 4 of Decree 115/2024/ND-CP and planning and sectoral management laws, and present the project information to the competent authority for approval. The document approving the investment project with land usage includes the contents specified in points b, c, d, dd, and e clause 2 Article 47 of the Bidding Law 2023;

- The competent authority organizes the posting of the project information according to point c, clause 1 Article 11 of Decree 115/2024/ND-CP.

More details can be found in Decree 115/2024/ND-CP which comes into force in Vietnam from September 16, 2024.

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