Novaworld Phan Thiet to resume construction in July 2025

Resolve the remaining 2 problems soon

According to a representative of Novaland Group, the project covers an area of ​​nearly 1,000 hectares, stretching nearly 7 km. The project was first granted an investment certificate by the Provincial People's Committee in 2008 and has undergone 5 changes so far. On April 16, 2019, the Provincial People's Committee issued an investment policy decision to Delta - Valley Binh Thuan Company Limited (replacing previously granted investment certificates) with a project area of ​​986.3 hectares. After a period of construction, the project was suspended in 2023 due to a series of difficulties and obstacles.

The company has basically completed the construction of technical infrastructure and has handed over more than 1,000 resort villas to customers.

Up to now, the project has completed basic legal procedures, and the People's Committee of Binh Thuan province has leased land to the company in the form of annual land lease payment with a total area of ​​963 hectares. Based on the approved legal procedures, the company has basically completed the construction of technical infrastructure and has handed over more than 1,000 resort villas to customers, put into operation the 36-hole PGA golf course, Movenpick hotel, restaurant, cafe, sports area, night economic zone, amusement park, beach... Currently, the company is continuing to implement the construction of the remaining items of the project according to the progress and construction permit granted by the Department of Construction, expected to complete the entire project by the end of 2028.

Director of Department of Agriculture and Environment - Cao Son Dung reported at the meeting

In 2023, after the Prime Minister's Working Group met with ministries, branches and the Provincial People's Committee to listen to reports, it was determined that the project had 8 problems and difficulties related to legal regulations. After resolving the problems, there are currently only 2 problems that the province is coordinating to resolve so that the project can restart as soon as possible. These are adjusting the investment policy and resolving procedures for changing the form of land use, determining specific land prices for the area converted to land lease with one-time payment, instead of annually.

Previously, the company requested to change the form of land lease from annual land lease to one-time land lease for the land area for the construction of villas, resorts, and commercial areas to suit the company's business plan. After review, the company's request to change the form of land lease is in accordance with the provisions of the 2013 Land Law. However, according to Conclusion No. 36 of the Politburo, it was directed to "overcome the shortcomings of land lease with one-time payment for the entire lease term, move towards mainly implementing land lease with annual payment and specify the cases of one-time land lease payment, in accordance with the nature and purpose of land use, ensuring stable revenue, avoiding loss of state budget". Therefore, the Provincial People's Committee reported to ask for guidance from the Working Group to have a basis for implementation.

This is a key project of the province with a total investment of about 6,400 billion VND.

Early determination of specific land prices

On March 27, 2025, the company submitted a request to change the form of land lease to the Department of Agriculture and Environment. Accordingly, it proposed to change the form of land lease for 381 hectares of commercial and service land out of a total area of ​​nearly 800 hectares of commercial and service land leased to the company, from the form of State lease with annual land rent collection to the form of one-time land rent collection for the entire lease term. The Company's request to change the form of land lease for the area of ​​commercial and service land for tourism activities is appropriate according to the opinion of the Prime Minister's Working Group and in accordance with the provisions of Articles 30 and 120 of the 2024 Land Law. Currently, the Department of Agriculture and Environment is inspecting and reviewing to report and advise the Provincial People's Committee for consideration and decision.

At the meeting, the leader of the Department of Agriculture and Environment said that the most difficult task at present is determining specific land prices because it is not possible to find a consulting unit. Regarding this issue, Vice Chairman of the Provincial People's Committee Nguyen Minh said that this is the key issue to resolve all current obstacles of the project. Therefore, the Department is requested to urgently contact ministries, branches, and relevant agencies to approach units with the capacity to consult on land price determination, promptly conduct bidding to select a land price consulting unit, as a basis for converting annual land rent to one-time payment for this project. At the same time, it is required that in April, the Department of Finance submit a dossier to adjust the project investment policy, then the Department of Agriculture and Environment submit a change in land use form to one-time land rent.

Emphasizing at the meeting, Chairman of the Provincial People's Committee Do Huu Huy said that this is a key project of the province, therefore, in the spirit of responsibility, determined to remove difficulties in accordance with legal regulations and to soon re-implement the project, in order to achieve the goal of contributing to socio-economic development, implementing social security in the locality, and growing with the province in double digits according to the direction of the Prime Minister. After the company completes its financial obligations to the state, completes legal documents, it is hoped that the project will be re-implemented in July 2025. At the same time, the investor is requested to urgently review the entire project area, complete the documents and procedures to send to the Department of Finance to synthesize and report to the Provincial People's Committee for consideration and settlement according to regulations.

Source: https://baobinhthuan.com.vn/de-novaworld-phan-thiet-thi-cong-tro-lai-vao-thang-7-2025-129456.html