Another project funded

Accordingly, a project in Ngu Hanh Son district is eligible to mobilize capital through capital contributions, business cooperation, joint ventures, and associations of organizations, households, and individuals as prescribed in Clause 2, Article 69 of the 2014 Housing Law and Clause 3, Article 19 of Decree No. 99/2015/ND-CP.

The Department of Construction of Da Nang City requires the investor to be responsible for the accuracy of information and attached documents.

At the same time, capital mobilization through capital contribution, investment cooperation, business cooperation, joint ventures, and associations of organizations, households, and individuals must be through capital contribution contracts, investment cooperation contracts, or business cooperation contracts; ensuring the contents according to regulations.

Parties participating in capital contributions, investment cooperation, business cooperation, joint ventures and associations are only allowed to divide profits, in cash or shares, based on the capital contribution ratio as agreed in the contract.

Investors are not allowed to apply the above-mentioned capital mobilization form or other capital mobilization forms to divide land use rights in the project to the capital mobilized party, except in the case of contributing capital to establish a new legal entity to be assigned by the State as the investor of the housing construction project.

In case of capital contribution to establish a new legal entity to be assigned as the investor, the business cooperation contract shall be implemented in accordance with the provisions of the law on investment and relevant laws.

In case of misuse of mobilized capital or misappropriation of mobilized capital, the amount of money mobilized in violation of regulations must be returned, compensation must be paid and administrative sanctions must be imposed according to the provisions of law on administrative sanctions or criminal liability must be prosecuted according to the provisions of law.

The investor implements the project in accordance with the laws on investment, land, housing, construction, environmental protection, fire prevention and fighting and related laws. At the same time, this enterprise mobilizes capital and conducts real estate business in accordance with the regulations on housing and real estate business.

The investor is fully responsible before the law in case of violations in project investment, construction, and real estate business at the project.

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