Hogan Lovell OffshoreBook 2023 230809 OnlinePDF - Flipbook - Page 318
318
6.2 Costs and risk of legal challenges
The main costs to secure the land use rights
and marine space use rights are land rents
(for onshore) and marine space use fees (for
nearshore and offshore) to be paid to the
relevant State authority (i.e., the local People’s Committee or the Vietnam Administration of Seas and Islands). Such costs will be
determined depending on the location of
the project.
In addition, the project company may have
to compensate individual land users for land
clearance and any other associated fees.
Once the project company has obtained
the land lease decision, certificate of land
use rights (for onshore), the marine space
assignment decision (for offshore) and paid
the related fees to the State authority, it
is reasonably well-protected and secured
during the operation of the project. In case
of nationalisation or revocation of land use
rights or marine space use rights for national
security reasons, the government will compensate the investors.
Vietnam
7. LOCAL CONTENT
REQUIREMENTS
Currently there are no statutory requirements for local content relating to the
development of offshore wind projects.
However, the Prime Minister has authorised the MOIT to prepare a mechanism for
promoting the domestic production of
wind turbines and boosting the localisation
of wind power projects. In addition, the
MOIT has provided that the Department of
Industry (which falls under the auspices of
the MOIT) was to study and propose measures to encourage the development and
manufacture of domestically produced wind
power equipment and increase the local
content of wind power projects. Ultimately,
their findings were to be reported to the Prime Minister. Though there has not been any
development in this area yet, it is expected
that legal requirements on local content will
be forthcoming soon.
