Ho Chi Minh City extends Mercedes-Benz project until April 2030.

The People's Committee of Ho Chi Minh City has instructed the Department of Planning and Investment to amend the investment registration certificate for Mercedes-Benz Vietnam Co., Ltd. until April 14, 2030 (an extension of 5 years).

The People's Committee of Ho Chi Minh City has just issued Document No. 5830/UBND-DA regarding the extension of the operating period for the project of Mercedes-Benz Vietnam Co., Ltd., in Go Vap District.

According to this document, the Chairman of the People's Committee of Ho Chi Minh City has instructed the Department of Planning and Investment to extend the project implementation period of Mercedes-Benz Vietnam Co., Ltd. by an additional 5 years from April 14, 2025.

Car assembly at the Mercedes-Benz factory in Go Vap district, Ho Chi Minh City. Photo: Le Toan

The Department of Natural Resources and Environment is assigned to take the lead and coordinate with relevant units to advise and propose the adjustment of land lease periods within its authority and in accordance with regulations after the investment registration certificate has been amended.

At the same time, Mercedes-Benz Vietnam Co., Ltd. is required to fulfill all financial obligations and relocation commitments upon the expiration of the land lease term on April 14, 2030.

The Saigon Transportation Mechanical Corporation has been tasked with urgently completing the investment project dossier and carrying out the investment and construction of the Ho Chi Minh City Automotive Mechanical Industrial Park to present to Mercedes-Benz Group AG for relocation and investment in a car manufacturing and assembly plant in the industrial park after the land lease expires.

The Chairman of the People's Committee of Ho Chi Minh City has assigned the Department of Planning and Investment to take the lead and coordinate with relevant units to advise and propose investment attraction and complete the procedures to immediately implement the investment project on the land plot at 693 Quang Trung Street, Ward 8, Go Vap District, right after April 14, 2030.

For Mercedes-Benz Vietnam Co., Ltd., the Ho Chi Minh City People's Committee requires a written commitment to fully fulfill its financial obligations regarding annual land lease fees for the extended 5-year period, in accordance with current regulations, ensuring no loss of state budget funds.

The Ho Chi Minh City People's Committee requires the investor to commit to relocating all production and business activities out of the land plot at 693 Quang Trung Street, Ward 8, Go Vap District, and to invest in a car manufacturing and assembly plant in the Ho Chi Minh City Automotive Mechanical Industrial Park upon the project's expiration date of April 14, 2030.

Investors are urged to promptly complete the appraisal of project investment documents and submit them to the City People's Committee for consideration and decision before October 4, 2024, ensuring strict adherence to regulations; based on this, adjustments to the project investment certificate will be made.

Previously, on September 25th, the Government Office sent a document to the People's Committee of Ho Chi Minh City conveying the opinion of Deputy Prime Minister Tran Hong Ha, regarding the agreement to extend the project of Mercedes-Benz Vietnam Co., Ltd. for another 5 years.

The government has instructed the People's Committee of Ho Chi Minh City to direct the Department of Planning and Investment to adjust investment registration certificates for investors from April 14, 2025 to April 14, 2030.

The project of Mercedes-Benz Vietnam Co., Ltd. requested an extension of its operating period from September 2021. However, due to difficulties in determining whether the project land falls under the category of rearranging or disposing of public assets, the extension has only now been approved.

Source: https://baodautu.vn/tphcm-gia-han-du-an-cua-mercedes-benz-den-thang-42030-d226285.html