Signing of contract and publishing of main contents of contracts of land-based investment projects in Vietnam

Signing of contract and publishing of main contents of contracts of land-based investment projects in Vietnam (Image from Internet)

On September 16, 2024, the Government of Vietnam issued Decree 115/2024/ND-CP guiding the Bidding Law 2023 on selecting investors for implementing land-based investment projects.

Signing of contract and publishing of main contents of contracts of land-based investment projects in Vietnam

According to the provisions of Article 31 Decree 115/2024/ND-CP, the signing of the contract and the posting of the principal information of the contracts of land-based investment projects in Vietnam are carried out as follows:

- The signing of the contracts of land-based investment projects is carried out in accordance with the provisions of Articles 71, 72, 74, and 75 Bidding Law 2023.

- The contracts of land-based investment projects (hereinafter referred to as the project contract) includes the basic contents prescribed in Article 73 Bidding Law 2023, Appendix III issued together with Decree 115/2024/ND-CP and the legal provisions on land, real estate, construction, and sector-specific management laws (if any).

- Within 05 working days from the date the project contract takes effect, the inviting party shall post the principal information of the contract on the National Bidding Network System. The content of the posted information includes:

+ Project name; contract number; Signing of contract date;

+ Name and address of the competent authority;

+ Name and address of the winning investor; name and address of the economic organization established by the winning investor (if any);

+ Objectives and scale of the project;

+ Expected project implementation schedule; land area and land use term;

+ Project implementation location;

+ Estimated total investment capital;

+ One of the information stipulated at points c, d clause 2 Article 19 Decree 115/2024/ND-CP as follows:

++  The  value  proposed  by  the  investor  regarding  land  use  efficiency  in  the  bid  (for  cases  applying  evaluation  criteria  on  land  use  efficiency);  the  number  of  public  works  not  for  business  purposes  or  the  value  of  social  support  or  other  social  welfare  activities  for  social  protection  beneficiaries  determined  in  monetary  value  or  the  number  of  people  supported  (for  projects  under  clause  1  Article  4  of Decree 115/2024/ND-CP  applying  evaluation  criteria  specified  at  point  d  or  point  e  clause  1  Article  49  of Decree 115/2024/ND-CP;

++  The  value  proposed  by  the  investor  in  terms  of  investment  efficiency  in  sector,  field,  and  local  development  in  the  bid  includes  one  of  the  following  information:  monetary  value  paid  to  the  state  budget;  percentage  of  revenue  proposed  by  the  investor  to  be  paid  to  the  state  budget;  price  of  goods  and  services;  the  number  of  public  works  not  for  business  purposes;  the  value  of  social  support  or  other  social  welfare  activities  for  social  protection  beneficiaries  determined  by  monetary  value  or  the  number  of  people  supported;  type,  degree  of  hazard  and  total  volume  of  pollutants  discharged  into  the  environment;  land  use  area,  land  use  coefficient;  state  budget  payment  level  and  increased  percentage  proposed  by  the  investor  for  implementing  the  construction  of  aviation  service  works;  electricity  price  for  energy  construction  projects;  the  handover  time  of  houses  for  resettlement  support  in  reconstruction  and  renovation  of  apartment  projects  (for  cases  applying  evaluation  criteria  on  sector,  field,  and  local  development  investment  efficiency);

+ Other contents (if any).

See more Decree 115/2024/ND-CP effective from the signing date of September 16, 2024.

From the effective date of Decree 115/2024/ND-CP, the following decrees are no longer in effect:

- Decree 25/2020/ND-CP detailing and guiding the implementation of several articles of Bidding Law 2023 on selecting investors in Vietnam;

- Article 89 Decree 35/2021/ND-CP detailing and guiding the implementation of the Law on Investment in the Form of Public-Private Partnership 2020.

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