The current Land Law 2013 (“Land Law 2013”) regulates some restrictions concerning the scope of land use rights via leasing and subleasing land in industrial parks, industrial clusters, and export processing zones applicable to foreign-invested companies (“FICs”). Such regulations are restricting several foreign investment sectors from investing in Vietnam markets, particularly, some disadvantages were encountered while sub-leasing land from infrastructure development companies (developers).
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Under the recently promulgated Land Law 2024 (“Land Law 2024”), regulations on FICs’ rights to land use have been enlarged significantly, particularly in Article 28.1(c) of Land Law 2024 – FICs are allowed to acquire land use rights in industrial parks, industrial clusters, and high-tech zones. This change illustrates the progressiveness in the law-making approach as well as the acceleration in the pace of equalizing the rights right between FICs and domestic economic organizations.
Our full discussion can be found here.
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