Project Description: About Thanh Hóa Proivnce and City
Thanh Hóa is the northern central coastal province of Central Vietnam and is a transition in many aspects such as geology, climate, administrative division, and local culture, hence involves lots of local habits, customs, and cultures. The province has population of 4.784 million people as per year 2023. In terms of population, Thanh Hoa has been the 3rd largest region after Hanoi and Ho Chi Minh.
Its capital city Thanh Hoa is a new developing city of Vietnam, has been a fast growing commercial and industrial centre. It is about 150 km (90 miles) south of Hanoi, 1560 km (969 miles) north of Ho Chi Minh City. It is connected to Hanoi by road and railway. The railway line connecting Hanoi with Ho Chi Minh City (formerly Saigon) runs north-south through the city.
Commercial development of Thanh Hoa
Thanh Hoa city region is rich in agricultural and forestry products, and there are phosphate deposits. Besides industrial crops of cotton, tobacco, and peanuts (groundnuts), it has been the specialized growing areas that have produced sweet potatoes, jute, mulberries, rushes, and corn (maize). Provincial administrators are trying to build and gentrify the city region, so that it becomes the most important city of the north central coast.
Our collaboration
ESGAsia has joint collaboration with the Viet Hung Group, the largest property developer in Thanh Hoa, to present investment opportunities in Thanh Hoa to international markets. Click here for Viet Hung Group profile and some of its projects.
Regulation on foreigner investment on properties
Vietnamese regulations permit foreigners to invest on property with some conditions.
- According to Housing Law 2014, the Article 159 – Eligible Subjects and Forms of Foreign Organizations and Individuals to Own Housing in Vietnam, Sub-Article 2 point b mentioned that Foreign individuals who are allowed to enter Vietnam may own houses by purchasing, leasing purchase, accepting a gift or inheriting commercial housing, including apartments and individual residences in housing development projects, except in areas designated by the government for national defence and security management. Sub-Article 3 (b) mentioned that Foreign individuals may own housing in accordance with the provisions of Sub-Article 2 of this Article, provided that the number of apartment buildings owned by foreigners does not exceed 30 per cent; in the case of detached houses, including villas, townhouses, located in an area with a population equivalent to one district administrative unit, foreigners can only own no more than 10% of the total number of dwellings in the project and must not exceed 250 dwellings. “
- According Government Decree No. 99/2015/ND-CP (Detailed Explanation and Guidance on the Implementation of Certain Provisions of the ), Article 76 – Ownership of Housing by Foreign Organizations and Individuals, paragraph 2, point c mentioned that the term of ownership of housing by foreign individuals shall not exceed 50 years from the date of issuance of the certificate and may be extended once for a maximum of 50 years, except in other cases provided for in paragraph 1 of Article 77 of this Decree. Paragraph 1 of Article 77 – Ownership of Houses by Foreign Organizations and Individuals in Areas of National Defence and Security Management mentioned that The Government stipulates that foreign organizations and individuals may not own houses in areas of national defence and security management.
- According to Land Law 2013, Paragraph 1 of Section 5 – Land Users mentioned that the law identifies land users, including Vietnamese and foreign organizations and individuals, but under different conditions. However, foreign individuals are not allowed to own land and can only lease land from Vietnamese state or economic organizations.
- Government Decree No. 43/2014/ND-CP (Detailed Rules for the Implementation of Certain Provisions of the Land Law), Clause 1 of Article 46 – Economic Organizations Lease or Sublease Land to Foreign-Invested Economic Organizations mentioned that Foreign-invested economic organizations may lease or sublease land in industrial parks, export processing zones, high-tech zones, economic zones and other areas prescribed by Vietnamese law.
