Sending a question to the Government Electronic Information Portal, a reader said that a tourist hotel project is being implemented. This project has been granted a Land Use Rights Certificate, valid until 2060.
However, the project progress has had to be adjusted twice: First investment registration certificate (2018): Completed in September 2021; 2nd adjusted investment registration certificate (2021): Completed in September 2023.
By October 2024, the project had just completed the foundation and was undergoing body construction. The company is completing procedures to request an extension of progress and is facing difficulties due to different methods of calculating the delay time between agencies as follows:
The Department of Natural Resources and Environment (now the Department of Agriculture and Environment) said that the project was only 13 months behind schedule (from the completion date in September 2023 according to the most recent Investment Registration Certificate). Because this delay is less than 24 months, the project is not subject to procedures for extending land use according to the 2024 Land Law.
The Department of Planning and Investment believes that the project has been delayed by 37 months (from the completion date of September 2021 according to the First Investment Registration Certificate). Because this delay has been over 24 months, the project is subject to procedures for extending land use.
Readers ask, which opinion is appropriate?
Regarding this issue, the Foreign Investment Agency (Ministry of Finance) has the following opinion, at Point d, Clause 3, Clause 4, Article 41 of the Investment Law No. 61/2020/QH14 dated June 17, 2020, stipulates that investors with investment projects that have been approved for investment policies must carry out procedures for approving investment policy adjustments if they fall into one of the following cases:
Extend the progress of investment projects for which the total investment period of the project exceeds 12 months compared to the progress of investment projects specified in the first investment policy approval document;
For investment projects approved for investment policy, investors are not allowed to adjust the progress of investment projects for more than 24 months compared to the progress of investment projects specified in the document approving the initial investment policy (except for one of the following cases):
Increasing total investment capital by 20% or more changes the scale of investment projects.
The adjustment of progress for investment projects is guided by competent State agencies deciding on investment policies, approving investment policies or approving investment according to the provisions of the law on investment, housing, urban areas and construction before the effective date of the Investment Law in Clause 4, Article 117 of Decree No. 31/2021/ND-CP dated March 26, 2021.
The Foreign Investment Agency (Ministry of Finance) recommends that readers study the above instructions and specific cases of readers to comply with the provisions of the law on investment and relevant specialized laws.
