Are you carrying out a housing investment project in Long An but facing difficulties in meeting the deadlines? Extending the project deadlines is a necessary and reasonable solution in this case. This article will help you better understand the process of extending project deadlines for investment projects, especially in cases of delayed land allocation or administrative procedures.

I. Why is it necessary to extend project deadlines?

Extending project deadlines can be due to various reasons, the most common ones are:

1. Delayed land allocation: The land allocation process may take longer than expected due to complex legal procedures or delays from government authorities.
2. Delayed administrative procedures: The administrative procedures related to the investment project can face difficulties and take longer than expected.

II. Risks of not extending project deadlines

Not extending project deadlines can lead to several serious risks, including:

1. Project termination: If the project is not completed on time and the deadline is not extended in time, your project may be terminated by the state management agency.According to the Investment Law 2020, an investment project can be terminated if the investor fails to implement or is unable to implement the project according to the committed schedule without extending the deadline.
2. Land reclamation: You may have the allocated land reclaimed if the project is not completed on time. According to the Land Law 2013, allocated or leased land for implementing an investment project may be reclaimed if the project is not carried out on schedule and without reasonable extensions.

III. Maximum extension period

You can extend the project implementation deadline by up to 24 months. In certain special cases such as overcoming the consequences of force majeure, delayed land allocation, delayed administrative procedures, or changes in planning, the extension period may exceed 24 months.

IV. Procedure for extending project implementation deadlines

Extending the implementation deadlines of an investment project is not a complicated process if you understand the steps involved. Below is the basic process:

Step 1: Prepare Documents

You need to prepare the following documents:

• Extension request document: In this document, you need to clearly state the reason for the extension request and the proposed extension period.
• Investment policy approval decision: A copy of the previously issued decision.
• Investment registration certificate: A copy of the issued certificate.
• Documents proving financial capacity: The latest financial statements or financial support commitments from the parent company or financial institutions.
• Investor approval decision or equivalent documents: A copy of the issued decision.
• Land use right certificate or equivalent documents: A copy of the issued certificate.

Step 2: Submit Documents

After the documents are fully prepared, they will be submitted to Long An Department of Planning and Investment.

Step 3: Gather opinions from relevant agencies

After receiving the documents, the Department of Planning and Investment will forward them to land management agencies and relevant agencies to gather opinions on the fulfillment of extension conditions.

Step 4: Document appraisal

The relevant agencies will review and provide appraisal opinions on your documents. The Department of Planning and Investment will prepare an appraisal report and submit it to the Long An Provincial People’s Committee.

Step 5: Extension decision

Finally, Long An Provincial People’s Committee will review and decide on the extension of your project implementation schedule. If your documents meet all the requirements, you will receive the extension decision in a short time.

Conclusion

Extending the implementation schedule of an investment project is an important process that helps you ensure the project is carried out according to plan without encountering legal issues. If you need support during this process, do not hesitate to contact us. Our law firm is always ready to accompany you from the first step until the project is completed.

(SMVN Law Firm)