Golf course projects to be managed by business conditions

Government will be responsible for approving golf projects instead of provincial authorities.

The State has issued new business conditions for golf course projects. — Photo baodautu.vn

The change is stated in the Decree 52/2020/ND-CP on investment in construction and commercial operation of golf courses, which comes into effect on June 15, 2020.

It will enable businesses to explore available land areas and build courses once they meet the Government’s regulations.

In the past, golf businesses had to wait for provincial authorities’ planning policies.

In some cases, capable investors were unable to develop their own courses because the targeted areas were not parts of the province’s development plans while some could not finalise their project registration in time. The development plans set for specific areas limited the scale of registered courses.

According to the Ministry of Planning and Investment, the change would assure golf course developers are fair to each other, improve the management of golf projects, and prevent illegal use of land.

There are several types of land which must not be used for building golf courses such as land used for national defence and security and natural forests. Rice-farming land is also unavailable for golf course construction, except areas with poor productivity and economic efficiency, and those meeting conditions for change of land use purposes; and areas of historical and cultural relics and tourism.

The area of the golf course projects depends on the scale, such as the standard golf course project with 18 holes not exceeding 90 hectares and the first golf course project area not exceeding 270 hectares, equivalent to 54 holes.

The investor must complete the construction within 36 months for 18-hole golf courses or within 48 months for other golf courses since the date that the land lease contract is signed, the Dau Tu (Investment) newspaper reported.

In addition, the decree also stipulates that investors must meet conditions on financial ability, land for building the project and deposit on the project in accordance with the law on investment.

The investors must have commitments on resettlement, training and jobs for the people who are using the land that is expected to develop the golf course project and local labour.

 

At the same time, they must implement requirements on infrastructure of transport, electricity and tapped water; waste water treatment and environmental protection during development of the golf course project.

The investors are prohibited to abuse golf course business to organise illegal gambling activities.

The Ministry of Planning and Investment has proposed the development of golf course projects according to business conditions after the development of golf course projects under the planning has not reached efficiency as expected.

According to the Decision 1946/QD-TTg dated November 26, 2009 of the Prime Minister on Viet Nam’s development planning on golf course, the country has 89 golf courses in 2020.

However, after 10 years of implementation, the State management agencies have realised that the management of golf course projects under the planning has had many inadequacies.

The ministry reported that up to now, there are only nearly 30 golf course projects put into operation. Investors of the remaining number of golf course projects have not had enough conditions to put investment in developing those projects.

Meanwhile, many investors have enough financial potential to develop golf course projects but they could not do because their projects are not put in the State development planning.

In addition, the current management of golf course investment and commercial operation is not following market rules. — VNS

Da Nang proposes US$2 billion horse-racing track, golf course

Da Nang proposes US$2 billion horse-racing track, golf course

The government of Danang is seeking approval from the local council to develop a horse-racing track and a hotel and golf course complex, worth nearly US$2 billion, to attract more tourists to the region and improve the city’s development.  

Gov’t okays plan to build two golf courses

Gov’t okays plan to build two golf courses

Deputy Prime Minister Trinh Dinh Dung has approved the investment in two golf courses worth over VND1 trillion in Quang Nam and Lao Cai provinces.

 
 

Other News

.
Vietnam factory activity dips in July as Covid-19 impacts grow
Vietnam factory activity dips in July as Covid-19 impacts grow
BUSINESSicon  03/08/2020 

Despite a drop in output in July, firms remained confident in the 12-month outlook for production.

Vietnamese startups bag millions of US dollars despite COVID-19 pandemic
Vietnamese startups bag millions of US dollars despite COVID-19 pandemic
BUSINESSicon  03/08/2020 

A slew of Vietnamese startups managed to secure millions of US dollars even in the midst of the rapidly escalating COVID-19 pandemic.

Sky-high livestock prices may breach competition law
Sky-high livestock prices may breach competition law
BUSINESSicon  03/08/2020 

Although many livestock companies could face an inspection to ensure they follow through on commitments to cut their prices, the market outlook still looks dreary in spite of the government’s call to stabilise the selling cost of live pigs.

Aligning with trade remedy principles
Aligning with trade remedy principles
BUSINESSicon  03/08/2020 

The EU-Vietnam Free Agreement (EVFTA) is a giant leap for Vietnam in international integration.

Electricity of Vietnam suggests not to extend deadline for wind farm FiT
Electricity of Vietnam suggests not to extend deadline for wind farm FiT
BUSINESSicon  03/08/2020 

In order to ensure transparency and stability in the selling price of wind power, EVN opposes the Ministry of Industry and Trade's proposal to extend the deadline on the current feed-in tariff (FiT) scheme for wind power projects

Ministry seeks to further open petroleum retail market
Ministry seeks to further open petroleum retail market
BUSINESSicon  03/08/2020 

The Ministry of Industry and Trade has called for allowing all foreign investors to further participate in the petroleum retail market.

Shares to correct on worries of virus surge
Shares to correct on worries of virus surge
BUSINESSicon  03/08/2020 

 Vietnamese shares may continue to fall this week as a spike in fresh coronavirus cases fuelled concerns that the path to economic recovery could be hindered.

Vietnam fulfills international commitments as EVFTA takes effect
Vietnam fulfills international commitments as EVFTA takes effect
BUSINESSicon  03/08/2020 

Vietnam will continue to fulfill its international commitments so that it can take full advantage of the EU-Vietnam Free Trade Agreement (EVFTA) and recover its economy amid a resurgence of COVID-19 pandemic.

Vietjet reports loss of over VND2.1 trillion for H1
Vietjet reports loss of over VND2.1 trillion for H1
BUSINESSicon  03/08/2020 

Vietjet Aviation Joint Stock Company has reported a loss of over VND2.11 trillion (approx. US$90.5 million) in air transportation business in the first half of this year.

F&B firms prepare for possible second round of social distancing
F&B firms prepare for possible second round of social distancing
BUSINESSicon  03/08/2020 

Though local F&B businesses don't want social distancing to return in August, the experiences they had in April are helping them prepare.

Vietnam Airlines, ACV suffer heavy losses due to COVID-19
Vietnam Airlines, ACV suffer heavy losses due to COVID-19
BUSINESSicon  03/08/2020 

The COVID-19 pandemic has severely dragged down revenues of the Vietnam Airlines Corporation (Vietnam Airlines) and the Airports Corporation of Vietnam (ACV) in the second quarter of this year.

Economic growth projected to reach about 7 percent in 2021
Economic growth projected to reach about 7 percent in 2021
BUSINESSicon  03/08/2020 

Prime Minister Nguyen Xuan Phuc has issued a directive on the building of plans for socio-economic development and State budget estimate for 2021, with a target of about 7 percent of economic growth for the year.

Enterprises in industrial parks urged to use hi-tech equipment
Enterprises in industrial parks urged to use hi-tech equipment
BUSINESSicon  03/08/2020 

 Enterprises in export processing zones (EPZs) and industrial parks (IPs) should use high technologies to better manage manufacturing processes and improve product quality.

Vietnam emerges as popular industrial property destination: CBRE
Vietnam emerges as popular industrial property destination: CBRE
BUSINESSicon  03/08/2020 

Vietnam has emerged as a popular destination for industrial property projects as increased labour costs, trade disputes and COVID-19 prompt global manufacturers to vary their supply chains throughout Asia, according to CBRE.

Condotel market faces gloomy prospects
Condotel market faces gloomy prospects
BUSINESSicon  02/08/2020 

 The condotel market has faced a gloomy period due to low absorption rate while inventory has been on the rise, experts said.

Ministry of Construction eyes building low-cost housing
Ministry of Construction eyes building low-cost housing
BUSINESSicon  03/08/2020 

 The Ministry of Construction (MoC) is completing a draft resolution to encourage the development of low-cost commercial apartments to submit to the Government in the third quarter of this year.

Businesses in Hanoi’s Old Quarter shutdown amid COVID-19 fears
Businesses in Hanoi’s Old Quarter shutdown amid COVID-19 fears
BUSINESSicon  02/08/2020 

The Hanoi People's Committee has moved to require all shops throughout Hanoi’s Old Quarter to close as of midnight on August 1 due to fears regarding recent developments relating to COVID-19 epidemic.

Reality and vision for industrial zones
Reality and vision for industrial zones
BUSINESSicon  02/08/2020 

The media have recently featured industrial properties, especially industrial land, as a potential area to attract investment.

Vietnam to develop night-time economy
Vietnam to develop night-time economy
BUSINESSicon  02/08/2020 

Prime Minister Nguyen Xuan Phuc has approved a project to develop the night-time economy in Viet Nam to allow some activities to run overnight until 6am of the next day in some major tourism cities and zones.

Transport service operators begin installing yellow number plates from today
Transport service operators begin installing yellow number plates from today
BUSINESSicon  02/08/2020 

Vehicles that have registered for transport services have started installing yellow number plates with black letters and numbers from today, August 1, instead of the current white plates.

 
 
 
Leave your comment on an article

OR QUICK LOGIN