The agricultural and forestry companies currently leasing land must cease leasing

19:17, 10/07/2024

On December 17, 2014, the Government of Vietnam unanimously issued Decree 118/2014/ND-CP regulating the arrangement, renovation, development, and enhancement of the operational efficiency of agricultural and forestry companies.

Land Use, Decree 118/2014/ND-CP

Source: Internet

Decree 118/2014/ND-CP stipulates that agricultural and forestry enterprise (AFE) land currently leased or borrowed by organizations or individuals must cease such lease or loan agreements and resolve as follows:

- For land leased or borrowed by organizations within the company's land use plan, it should be reclaimed. The company will compensate for the value of the cultivated trees, planted forests, and on-land assets (if any) to the investing organization.- For land leased or borrowed by households or individuals, correctly using the land according to the company's land use plan, it will be converted to a contracting land form with the company. If it can't be converted to a contracted agreement, it should be reclaimed and compensate for the on-land assets to the household or individual.- For land leased or borrowed by organizations or individuals not in accordance with the company's land use plan, it will be transferred to the local authorities for consideration and resolution according to Clause 2, Article 15 of this Decree.

Thus, from February 01, 2015, agricultural and forestry enterprises leasing or lending land to organizations or individuals must cease such leasing or loaning and resolve according to the provisions in Decree 118/2014/ND-CP.

For further details, see the related provisions in Decree 118/2014/ND-CP, effective from February 01, 2015.

Thu Ba

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