Procedures for adjusting approval of investment guidelines of apartment building renovation, reconstruction investment projects in Vietnam (Newest）

Procedures for adjusting approval of investment guidelines of apartment building renovation, reconstruction investment projects in Vietnam (Newest） (Image from Internet)

On July 25, 2024, the Government of Vietnam issued Decree 98/2024/ND-CP detailing some provisions of the Housing Law 2023 regarding the renovation and reconstruction of apartment buildings in Vietnam.

1. Procedures for adjusting approval of investment guidelines of apartment building renovation, reconstruction investment projects in Vietnam

According to Clause 5, Article 14 of Decree 98/2024/ND-CP, the Procedures for adjusting approval of investment guidelines of apartment building renovation, reconstruction investment projects in Vietnam (Newest） are as follows:

- The provincial housing management agency shall prepare a dossier for requesting adjustment of investment policy approval as prescribed in Clause 4, Article 14 of Decree 98/2024/ND-CP and submit it to the provincial People's Committee for consideration and approval.

In case the project investor has been selected, the investor shall send 08 sets of the dossier for requesting adjustment of investment policy approval as prescribed in Clause 4, Article 14 of Decree 98/2024/ND-CP to the provincial housing management agency to report to the provincial People's Committee for consideration and approval;

- Within a maximum of 03 working days from the date of receiving the dossier as specified in Point a, Clause 5, Article 14 of Decree 98/2024/ND-CP, the provincial housing management agency shall send it for appraisal to relevant provincial functional agencies.

In the written request for appraisal, the provincial housing management agency must specify the content of the appraisal from each consulted agency;

- Within a maximum of 15 days from the date of receiving the written request for appraisal from the provincial housing management agency, the consulted agency must send a written response to the provincial housing management agency;

- Within a maximum of 10 days from the date of receiving the written responses from the consulted agencies as prescribed in Point c, Clause 5, Article 14 of Decree 98/2024/ND-CP, the provincial housing management agency must complete the appraisal dossier and submit it to the provincial People's Committee for consideration and approval;

- Within a maximum of 07 working days from the date of receiving the dossier for requesting adjustment of investment policy approval from the provincial housing management agency, the provincial People's Committee shall consider and approve the investment policy adjustment; in case of disapproval, there must be a written notification clearly stating the reasons to the investor and the provincial housing management agency.

2. Cases for adjusting approval of investment guidelines of apartment building renovation, reconstruction investment projects in Vietnam

The approval of the investment guidelines of apartment building renovation, reconstruction investment projects in Vietnam shall be adjusted in one of the following cases:

- Adjusting part of the project's objectives from resettlement arrangement to compensation in cash or from onsite resettlement to resettlement at another location or when there is a requirement for adjustment of the project's resettlement plan by the competent state management authority.

In case the competent state management authority requires an adjustment of the project's resettlement plan that changes the k factor of compensation for the apartment area, opinions from the apartment owners must be sought before proposing the adjustment;

- Changing the total investment capital by 20% or more or changing 20% of the total number of houses or other non-residential areas as stated in the approved investment policy document;

- Extending the project implementation schedule when the total project investment time exceeds 18 months compared to the schedule stated in the initial investment policy approval document;

- Adjusting the phased investment plan or dividing the project into sub-projects (if any).

According to Clause 3, Article 14 of Decree 98/2024/ND-CP.

More details can be found in Decree 98/2024/ND-CP which comes into force in Vietnam from August 1, 2024.

Decree 69/2021/ND-CP on the renovation and reconstruction of apartment buildings will expire from the effective date of Decree 98/2024/ND-CP.

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