Regulations on application for liquidation of public planted forests in Vietnam

Regulations on application for liquidation of public planted forests in Vietnam (Image from Internet)

On October 25, 2024, the Government of Vietnam issued Decree 140/2024/ND-CP regulating the liquidation of planted forests in Vietnam.

1. Regulations on application for liquidation of public planted forests in Vietnam

According to Article 9 of Decree 140/2024/ND-CP, the documentation for liquidation of public planted forests in Vietnam includes:

- Documentation for planted forests in the investment phase, includes:

+ An application document for liquidation of planted forests according to Form No. 03 in the appendix issued with Decree 140/2024/ND-CP;

| | Form No. 03 || --- | --- |

+ A liquidation plan for planted forests according to Form No. 04 in the appendix issued with Decree 140/2024/ND-CP;

| | Form No. 04 || --- | --- |

+ A field inspection report, determining the cause, damage of planted forests according to Form No. 02 in the appendix issued with Decree 140/2024/ND-CP. If the field inspection report is prepared according to legal regulations before Decree 140/2024/ND-CP takes effect, the organization with planted forests requesting liquidation can use that report to carry out the liquidation procedures;

| | Form No. 02 || --- | --- |

+ A copy of the design, cost estimate for forest planting;

+ A copy of the approval decision (project, topic...) by the state agency with authority;

+ A copy of the annual settlement minutes;

+ A copy of the annual financial reports;

+ Other relevant documents (if any).

- Documentation for planted forests after the investment phase, includes:

+ The documents specified in points a, b, c, d, and e of clause 1 Article 9 of Decree 140/2024/ND-CP;

+ A copy of the project completion report;

+ Other relevant documents (if any).

- The agency receiving the documentation

+ Specialized agency in forestry management under the Ministry of Agriculture and Rural Development as assigned by the Minister of Agriculture and Rural Development;

+ Specialist agency under the ministries, central agencies as assigned by the ministers of the ministries, heads of central agencies;

+ Local specialized agency in forestry management as assigned by the Chairman of the People's Committee at the provincial level.

2. Regulations on the Organization of Liquidation of Planted Forests in Vietnam

The organization of liquidation of planted forests in Vietnam is specifically regulated in Article 11 of Decree 140/2024/ND-CP as follows:

- Organizations possessing planted forests for liquidation shall carry out the liquidation of planted forests according to the liquidation decision issued by the competent authority.

- Exploit and utilize according to legal regulations on forestry. In case of selling timber products from such utilization, comply with the regulations on property auction.

- After organizing the liquidation of planted forests, organizations with planted forests for liquidation shall request the competent authority to consider and handle:

+ For planted forests in the investment phase: Adjust the investment project or adjust the capital plan, design, and cost estimate for forest planting according to the regulations on public investment and afforestation projects;

+ For planted forests after the investment phase: Adjust the asset formation value and asset formation capital according to accounting laws; report, declare asset fluctuations according to Articles 126 and 127 of Decree 151/2017/ND-CP of the Government of Vietnam detailing the implementation of the Law on Management and Use of Public Property 2017, amended and supplemented in Clause 64 Article 1 of Decree 114/2024/ND-CP.

- Organizations with planted forests for liquidation are responsible for reporting the results of the liquidation of planted forests to the competent authority that decides the liquidation of planted forests immediately upon completion of the liquidation.

More details can be found in Decree 140/2024/ND-CP which comes into force in Vietnam from October 25, 2024.

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