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After considering suggestions of the People Committee of HCM City and after consulting with relevant ministries (inlcuding the Ministry of Nature Resources and Environment, the Ministry of Finance, the Ministry of Justice, the
Ministry of Planning and Investment), the Government’s Prime Minister issued Official Letter no. 2424/TTg-KTN on 4 December 2009 providing guidance on the land lease term applicable to foreign investors who have paid land rents for the whole lease term in HCM City.

Accordingly, HCM City has strictly complied with regulations of the Land Law on calculation of land lease term applicable to foreign organizations and individuals who carry out investment projects in HCM City.

As directed by the Prime Minister, if the foreign investor has made one-off payment of land rent for the entire term of 50 years in HCM City, the land lease term will be calculated for the entire 50 years from the date of the land lease decision or the date of land hand-over by the competent authorities.

In addition, the operation term of project indicated in the Investment certificate will also be amended in accordance with the land lease term under regulations on amendment of investment projects stated in Article 51 of Decree 108/2006/ND-CP providing detailed guidelines for implementation of a number of articles of the Investment Law. This regulation will solve an actual problem where the operation term of project expires under the Investment Certificate but the land lease term still continues, because the commencement date of land lease term always comes after the date on which the investment certificate is granted.

In respect of the term for land allocation and payment of land lease fee for projects using large area using projects and the land is allocated for many times, the Prime Ministry assigns the Ministry of Nature Resources and Environment to coordinate with relevant authorities and Ho Chi Minh City for researching and suggesting the settlement methods to submit to the Prime Ministry for approval.

By courtesy of ©LuatViet - Advocates & Solicitors 2009