logo

The Ministry of Finance amends provisions for state-owned non-public use real-estate for improvement and utilization to create a favorable environment that draws private investments.

In order to actively promote the competent authority’s industrial development promotion and enhance private investments, the National Property Administration (NPA) may base on relevant provisions of the National Property Act undertake state-owned non-public use real-estate improvement and utilization businesses through collaboration or commissioning.In consideration of the rapidly changing forms of economic activities and the diverse content of industrial planning introduced by the competent authority, the Ministry of Finance has amended the “The State-owned Non-public Use Real-estate Improvement and Utilization Operation Guideline”so as to keep the laws and regulations in time.
According to the NPA, the two focuses of the amendment are to increase the target for improvement and utilization and relax the collection basis for development royalty.1. In order for the state-owned non-public use land designated for public facilities to be improved and utilised in compliance with the land controlled use, the NPA shall coordinate with the competent authority to introduce profit-seeking enterprise for development (such as parking lots, markets).2. To relax development royalties to be paid in installments or pay by percentage and allow loan collateral with superficies so as to lessen the fund pressure of the developer during the construction period.It is hoped to create a favorable investment environment and promote the competent authority’s industrial development and planning needs.
The NPA further expressed that in order to activate state-owned property a joint development model was established where the NPA will provide stated-owned real estate and the competent authority shall conduct industrial planning and subsequent solicitation and funded by developers.At present, 49 cases have been singed with the competent authority. The industry types include: cultural creativity parks, industrial parks, commercial facilities, tourist hotels, solar photovoltaic, etc., thereby promoting industrial development, creating sustainable income, providing employment opportunities, and enabling the government and private sectors to share the fruitful results arising from the state-owned asset activation.

2018-02-02 Ministry of Finance News

Contact

Do Not Drink And Drive