Chương 1 Nghị định 71/2001/NĐ-CP: Những quy định chung

Chapter I

GENERAL PROVISIONS

Article 1.- Scope of application

This Decree prescribes a number of policies to create favorable conditions and provide investment preferences for enterprises participating in investment projects on construction of dwelling houses for sale and lease.

Article 2.- Housing projects eligible for favorable conditions and preferences

The following housing projects shall enjoy favorable conditions and preferences (hereafter referred to as preferential housing projects):

1. Projects on multi-storied dwelling houses (with 5 stories or more for Hanoi and Ho Chi Minh cities, 3 stories or more for other provinces and cities), with self-contained apartments, common stairs and alleys (hereafter called condominiums).

2. Housing projects with residential land accounting for at least 60% of the total land acreage for the construction of condominiums.

Article 3.- Enterprises enjoying favorable conditions and preferences

This Decree applies to enterprises of all economic sectors that have registered their housing business under the provisions of law, including:

1. Domestic enterprises:

a/ State enterprises set up and operating under the State Enterprise Law;

b/ Enterprises set up and operating under the Enterprise Law;

c/ Enterprises of political organizations, socio-political organizations, professional associations, security and defense enterprises, set up and operating under the provisions of law;

d/ Cooperatives set up and operating under the Law on Cooperatives;

e/ Enterprises directly invested in by overseas Vietnamese in Vietnam; enterprises directly invested in by foreigners permanently residing in Vietnam; enterprises set up jointly by Vietnamese citizens, overseas Vietnamese and/or foreigners permanently residing in Vietnam.

2. Foreign-invested enterprises under the Law on Foreign Investment in Vietnam.

Article 4.- Forms of selecting investors

The forms of selecting investors for housing projects eligible for favorable conditions and investment preferences are prescribed as follows:

1. Selecting investors being domestic enterprises (hereafter referred collectively to as investment project owners):

a/ The investment project owners shall be decided by the presidents of the People’s Committees of the provinces and centrally-run cities (hereafter collectively referred to as the provincial-level People’s Committees) where the projects are to be implemented;

b/ In cases where two or more investors are registered to be investment project owner for one project, the provincial-level People’s Committee shall select the investment project owner according to the Bidding Regulation.

2. The selection of foreign investors to participate in the investment and construction of dwelling houses eligible for favorable conditions and investment preferences shall comply with the provisions of the legislation on foreign investment in Vietnam.

Article 5.- Sale and lease of dwelling houses under projects enjoying favorable conditions and preferences

1. Condominium apartments shall be sold or leased, first of all, to the following subjects that meet with accommodation difficulties:

a/ Subjects enjoying salaries from the State budget;

b/ Officials and public employees working in enterprises of different economic sectors;

c/ Students of universities and colleges.

2. Dwelling houses of other types (if any) under the projects may be sold or leased by investors to any of the following subjects that have the demand therefor:

a/ To be sold or leased to Vietnamese citizens residing in Vietnam;

b/ To be leased to overseas Vietnamese and foreigners residing in Vietnam.

The permission for overseas Vietnamese to buy dwelling houses in Vietnam shall comply with the Government’s specific stipulations.

Article 6.- Sale prices and rent rates of dwelling houses under preferential housing projects

1. The sale prices and rent rates of condominium apartments under preferential housing projects shall be determined by investors on the principle of preserving capital, without calculating into such sale prices and rent rates the preferences that the investment project owners have already enjoyed under the provisions of this Decree.

2. The sale prices and rent rates of dwelling houses of other types (except for condominium apartments) within the scope of projects (if any) shall be agreed upon by concerned parties.