Amendments to Regulations on Investment Projects Using Land, Effective from July 26, 2024 in Vietnam

Amendments to Regulations on Investment Projects Using Land, Effective from July 26, 2024 in Vietnam

The Circular 10/2024/TT-BKHDT has abolished Clause 1 of Article 6 and amended Article 6 of Circular 09/2021/TT-BKHDT regulating the implementation of investment projects with land use as follows:

- Preliminary requirements on the capacity and experience of the investor and the announcement of the list of investment projects with land use for projects subject to investment policy approval as stipulated in Point a, Clause 1 of Article 12 of Decree 25/2020/ND-CP (amended in Decree 31/2021/ND-CP) shall be determined and implemented as follows:

+ For projects under the authority of the Prime Minister of the Government of Vietnam to approve the investment policy:

The provincial People's Committee is the bidding organization as prescribed in Clause 8, Article 32 of Decree 31/2021/ND-CP. Based on the project investment policy approval decision, the provincial People's Committee shall assign the Department of Planning and Investment to preside, cooperate with relevant agencies to determine the preliminary requirements on the capacity and experience of the investor, and report to the provincial People's Committee for approval before announcing the project list. For projects implemented in economic zones, the provincial People’s Committee shall assign the Economic Zone Management Board to organize, and approve preliminary requirements on the capacity and experience of the investors before announcing the project list.

+ For projects under the authority of the provincial People's Committee to approve the investment policy:

The Department of Planning and Investment or the Economic Zone Management Board (for projects implemented in economic zones) is the bidding organization as prescribed in Clause 6, Article 33 of Decree 31/2021/ND-CP. Based on the project investment policy approval decision, the Department of Planning and Investment presides, cooperates with relevant agencies to determine the preliminary requirements on the capacity and experience of the investor, and reports to the provincial People's Committee for approval before announcing the project list. For projects implemented in economic zones, the Economic Zone Management Board shall organize, and approve preliminary requirements on the capacity and experience of the investors before announcing the project list.

- The preliminary assessment of the investor's capacity and experience is carried out according to the provisions of Article 13 of Decree 25/2020/ND-CP (amended in Decree 31/2021/ND-CP).

In case there is only one investor meeting the preliminary requirements on capacity and experience, that investor shall submit an application for investor approval according to the provisions of Clause 3, Article 29 of the Investment Law 2020 and Point a, Clause 2 of Article 30 of Decree 31/2021/ND-CP without having to determine the floor price for submission to the state budget as prescribed in Clause 2, Article 4 of Circular 09/2021/TT-BKHDT.

- The project enterprise established by the winning investor to implement the project according to the provisions of Clause 5, Article 57 of Decree 25/2020/ND-CP shall inherit the rights and obligations to implement the investment project committed by the winning investor in the bid dossier and must meet the conditions according to the provisions of the laws on enterprises, investment, construction, land, housing, real estate business, and related laws (if any).

More details can be found in Circular 10/2024/TT-BKHDT, effective from July 26, 2024.

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