Approval of investment policy and business of infrastructure of Son My 2 Industrial Park, Binh Thuan

The Prime Minister approved the investment policy for the project to invest in construction and business of infrastructure of Son My 2 Industrial Park - Phase 1, Binh Thuan province.

Accordingly, the Prime Minister approved the investment policy for the project to invest in the construction and business of the infrastructure of Son My 2 Industrial Park, Phase 1, and approved the investor: Dong Sai Gon Industrial Investment and Development Joint Stock Company. Project objective: Investing in the construction and business of the technical infrastructure of the industrial park.

Project land use scale: 468.35 hectares (including technical infrastructure land).

Total investment capital of the project: The Prime Minister assigned the People's Committee of Binh Thuan province to direct the Management Board of Industrial Parks of Binh Thuan province to request investors to recalculate and accurately determine the total investment capital of the project according to the above scale, ensuring full calculation of expenses to implement the project in accordance with the provisions of law and the provisions of the Investment Registration Certificate.

Project duration: 50 years from the date of investment policy approval and investor approval.

Project implementation location: Son My commune, Ham Tan district, Binh Thuan province. The specific location and boundary of the Phase 1 Project are determined by the People's Committee of Binh Thuan province within the scope of the Son My 2 Industrial Park development planning approved by the Prime Minister and specified in the Investment Registration Certificate.

Project implementation progress: no more than 48 months from the date of land handover by the State. The People's Committee of Binh Thuan province directs the Management Board of Industrial Parks of Binh Thuan province to guide investors to determine the specific progress of the Project Phase 1, in which it is noted that the use of the investor's equity capital to implement the Project Phase 1 must ensure compliance with the provisions of the law on land.

Investment incentives, support and conditions apply according to current law.

The Prime Minister assigns the Ministry of Planning and Investment and relevant ministries and branches to be responsible for the content of appraisal of investment policies for projects within their functions and tasks according to the provisions of the Investment Law and relevant laws.

The People's Committee of Binh Thuan province is assigned to ensure the accuracy of information, reported data, and appraisal contents according to the provisions of law; be responsible for the project's conformity with the planning approved by competent authorities; and receive comments from ministries and branches.

In addition, inspect, supervise and ensure that the Phase 1 Project is implemented in accordance with the approved planning location for the development of Son My 2 Industrial Park; ensure conditions for allowing the change of land use purpose during the land lease process, allowing the change of land use purpose to implement the project; implement the change of land use purpose for rice cultivation and other types of land ensuring the conditions, order and procedures according to the provisions of the Land Law and related documents; have measures to supplement land area or increase the efficiency of rice cultivation land according to the provisions of Clause 1, Article 134 of the Land Law.

The People's Committee of Binh Thuan province is responsible for organizing the implementation of land acquisition, compensation, site clearance, land lease, and conversion of land use purposes to implement the Phase 1 Project in accordance with the documents approved by competent authorities on the scale, location, and progress of the project. Ensure that there are no disputes or complaints regarding the right to use the location for the Phase 1 Project...

Industrial Investment and Development Corporation - JSC complies with the capital contribution to Dong Sai Gon Industrial Investment and Development Joint Stock Company to invest in projects in accordance with the provisions of law on management and use of state capital invested in production and business at enterprises and relevant laws; ensures effective use of state capital at enterprises, preserves and develops state capital according to regulations.

Fully meet the conditions prescribed by law

Dong Sai Gon Industrial Investment and Development Joint Stock Company is only allowed to implement Phase 1 of the Project after: (i) converting the purpose of using rice-growing land to implement Phase 1 of the Project in accordance with the provisions of the law on land, the law on management and use of rice-growing land; paying a sum of money to protect and develop rice-growing land in accordance with the provisions of the law; (ii) fully meeting the conditions prescribed by the law on real estate business when carrying out industrial park infrastructure business activities; (iii) determine the industrial land area (at least 05 hectares of industrial land or at least 3% of the total industrial land area) in the construction planning of Son My 2 Industrial Park for small and medium enterprises, supporting industries, innovation and other entities to lease land, sublease land according to the provisions of Clause 4, Article 9 of Decree No. 35/2022/ND-CP dated May 28, 2022 of the Government regulating the management of industrial parks and economic zones.

Dong Sai Gon Industrial Development and Investment Joint Stock Company must deposit or have a bank guarantee for deposit obligations to ensure the implementation of investment projects in accordance with the provisions of the law on investment and the law on land.

At the same time, ensure the use of sufficient equity capital to implement Phase 1 of the Project in accordance with the provisions of the law on land, including cases where enterprises invest in other investment projects and business activities other than this Phase 1 Project.

Source: https://baotainguyenmoitruong.vn/chap-thuan-chu-truong-dau-tu-kinh-doanh-ket-cau-ha-tang-kcn-son-my-2-binh-thuan-362537.html