Financial sources of the Land Development Center in Vietnam

Financial sources of the Land Development Center in Vietnam (Image from Internet)

1. Functions of the Land Development Center in Vietnam

According to Clause 1 Article 14 of Decree 102/2024/ND-CP, the Land Development Center is a land fund development organization and a public service provider established by decision of the provincial People's Committee under the provincial People's Committee. Depending on the actual situation at the local level, the provincial People's Committee decides to establish the Land Development Center under the district People's Committee.

The Land Development Center has legal status, has its own seal, and may open accounts to operate according to the provisions of law.

2. Duties of the Land Development Center in Vietnam

The duties of the Land Development Center in Vietnam according to Clause 2 Article 14 of Decree 102/2024/ND-CP are as follows:

- Manage the land fund as stipulated in Clause 1 Article 113 of the Land Law 2024;- Develop and implement projects to create land funds for organizing land use right auctions;

- Develop and implement compensation, support, and resettlement plans when the State recovers land; create land fund projects to allocate land for implementing land policies for ethnic minorities; build land price tables; determine specific land prices upon request from competent state agencies;

- Organize the implementation of investments to establish and develop resettlement land funds to serve State land recovery and promote local socio-economic development;

- Organize land use right auctions according to law;

- Make a list and organize short-term leases for land parcels under management that have not yet received allocation or lease decisions;

- Provide services related to compensation, support, and resettlement when the State recovers land and other services in the field of land management;

- Joint ventures, associations, and partnerships with economic organizations and individuals to perform assigned tasks according to the law on the management and use of state property, the law on the autonomous mechanism for public service providers, and other relevant legal provisions;

- Sign contracts with organizations and individuals to provide consultancy services or perform assigned tasks according to the law;

- Manage public employees, workers, finances, and assets of the Land Development Center according to the law; implement reporting policies as regulated in the assigned work areas.

3. Financial Sources of the Land Development Center in Vietnam

The financial sources of the Land Development Center in Vietnam according to Clause 4 Article 14 of Decree 102/2024/ND-CP include:

- Funding allocated from the state budget according to regulations for public service providers;

- Revenues from operations, including:

+ Funding for implementing compensation, support, and resettlement when the State recovers land, and project management costs according to the provisions of law.

+ Management costs and exploitation of reclaimed, established, and developed land funds; management costs and exploitation of housing and land funds built for resettlement according to approved estimates by competent state agencies.

+ Revenues from the sale of auction dossiers for land use rights, and organization costs for land use right auctions collected according to the provisions of law and specific provisions of the provincial People's Committee.

+ Shares of profits from joint venture and partnership activities; interest from deposits at credit institutions.

+ Revenues from providing services under signed contracts and according to law.

+ Revenues from short-term land fund leases.

+ Other revenues from operations according to law;

- Capital allocated from the state budget, advances from the Land Development Fund or the Development Investment Fund, and other financial funds entrusted to perform tasks according to the decision of the provincial People's Committee;

- Loans from credit institutions;

- Joint venture and partnership capital to implement approved programs, plans, projects, and schemes;

- Aid, sponsorship, and other sources according to law.

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