Decree 115/2024, effective September 16, 2024, sets a clear framework for investor selection in land-use projects in Vietnam, focusing on competitive bidding in the energy sector, particularly greenfield power projects. By mandating transparent bidding and removing pre-arranged bid risks, the decree aims to increase competition and attract investors. Key provisions include prerequisites for land bidding, streamlined investor selection processes, incentives for environmentally friendly technologies, and updated scoring criteria. It also regulates project transfer rules and mandates competitive bidding for renewable power projects if multiple investors are interested. Decree 115 aligns with Vietnam’s broader legal framework, including the Law on Electricity, aiming to foster foreign investment, advance energy infrastructure, and support sustainable development.
