On January 14, 2013, the Government issued the Decree No. 11/2013/ND-CP on the investment management of urban development. Of which, one of the notable contents is regulation on authority Authority to approve investment for project of new urban center construction investment.
Specifically, under this Decree, The Prime Minister shall decide on investment approval after obtaining the appraisal opinion of the Ministry of Construction for the following cases: Project with the scale of land use from 100 hectares or more; Project within the administrative boundaries of two or more provinces or area having important implications on security and national defense. Besides, provincial-level People's Committee shall decide on investment approval for the projects with the land use scale from 20 hectares to less than 100 hectares after obtaining written consent of the Ministry of Construction. At the same time, Provincial-level
People's Committee shall decide on investment approval of the remaining projects. Besides, the Decree also regulates in detail on conditions as being a project investor of urban center construction investment project. For investor as enterprise, apart from having registered business under the provisions of the Enterprise Law in accordance with the implementation of projects, they must have investment capital in its own not less than 15% of the total investment of the project of land use scale less than 20 hectares, not less than 20% of the total investment of the project of land use scale from 20 hectares or more for urban area investment construction projects; Having investment capital in its own not less than 20% of the total investment of project for the remaining projects…. This Decree takes effect from March 1, 2013 and replaces
Decree No. 02/2006/ND-CP dated January 05, 2006 of the Government.
