Dien Bien Provincial People's Committee has just issued decision No. 696, allocating and leasing (phase 2) more than 3 hectares of land to the Joint Venture of MST Investment Joint Stock Company and VINA2 Investment and Construction Joint Stock Company (MST - VINA2 Joint Venture).
This land is used to implement the Urban Residential Area, Commercial and Service Project in residential groups 17, 18 of Him Lam ward, Dien Bien Phu city (now Dien Bien Phu ward).
According to the decision, the total land area allocated to the investor consortium in this phase is 23,854 m2 (nearly 2.4 ha).
In which, traffic land is more than 10,500 m2; land for public entertainment and community activities is 420 m2; adjacent residential land is more than 12,700 m2.
For traffic land and land for public entertainment and community activities, the land use term is according to the project implementation time approved by competent authorities. The State allocates land without collecting land use fees.
Adjacent residential land, households, and individuals after buying land are allowed to use land stably and long-term according to the provisions of land law. The State allocates land with land use fees.
The Provincial People's Committee also leased over 6,500 m2 of land to the MST - VINA2 Joint Venture to develop a commercial and service area under the above project. This land is leased by the State with annual payment for a term of 50 years, from April 3, 2026.
Dien Bien province requests the Consortium of MST - VINA2 Companies to be responsible for using land in the correct location, boundaries, area and purpose that have been approved. The investor must fulfill financial obligations.
MST Investment Joint Stock Company is located at No. 2, alley 159 Tay Son street, Dan Phuong commune, Hanoi; VINA2 Investment and Construction Joint Stock Company is located at floors 2-4, building B - Kim Van - Kim Lu New Urban Area, Dinh Cong ward, Hanoi.
