New rule on investor selection for land-using projects

Accordingly, land-using projects subject to bidding for investor selection under specialized laws include projects on construction of domestic solid waste treatment facilities, clean water supply facilities, marketplaces, rest areas, and aviation service facilities at airports. Others include projects on mobilization of social resources in the fields of education, health, culture, sports and environment; social houses; renovation and reconstruction of condominiums; horse racing and dog racing courses associated with betting; and energy works, etc.
 

As for conditions for organization of bidding, the new regulation stipulates that land areas for investment projects must be those subject to land recovery by the State as specified in Article 79 of the 2024 Land Law and included in the list of land areas eligible for bidding as decided by provincial-level People's Councils.

The decree also has provisions for investors eligible for incentives with specific incentive levels.

It states that investors applying advanced, high or environmentally friendly technologies as well as the best available techniques to minimize environmental pollution for projects with high risk of causing negative environmental impacts will be entitled to an incentive rate of 5 percent upon the evaluation of their bidding documents.

Meanwhile, the incentive rate of 2 percent will apply to investors that commit to carry out technology transfer and hi-tech activities for high technologies and hi-tech products on the Prime Minister-issued List of high technologies prioritized for development investment or List of hi-tech products promoted for development, or on the List of technologies encouraged for transfer.

To enjoy the incentives, when participating in the bidding, investors must submit documents proving the application of advanced, high or eco-friendly technologies and the best available techniques, and proving the right to legally use technologies in accordance with the laws on high technology, technology transfer, and environmental protection, and other relevant laws.

They are also requested to comply with their commitments stated in the bidding documents and project contracts.- (VLLF)