On January 7, information from the Office of the People's Committee of Hoa Binh province said that the People's Committee of the province has issued a decision on changing the land use purpose and leasing land to TPP Hoa Binh Company Limited to implement the Carton packaging factory project in Ba Hang Doi town, Lac Thuy district.
According to the decision, 35,828 m2 of production forest land in Khu Vai area, Ba Hang Doi town will be converted into non-agricultural production land and leased to TPP Hoa Binh Company Limited to implement the project. The land lease term will last until January 3, 2074, in the form of annual land rent payment.
The Provincial People's Committee requested TPP Hoa Binh Company Limited to put the land into use on schedule from the date of field handover.
Within 12 consecutive months from the date of receiving the land, the company must implement the use of the land. If the land is not put into use or the progress is delayed by more than 24 months, the company can be extended for a maximum of 24 months but must pay an amount corresponding to the land rent during the delay period.
After the extension period, if the company still does not use the land, the State will reclaim the land without compensation for the land, assets attached to the land or remaining investment costs on the land.
