TOTAL EXTENDED PERIOD OF SEA AREA ASSIGNMENT DURATION MUST NOT EXCEED 20 YEARS
The Decree No. 11/2021/ND-CP providing the assignment of given sea areas to organizations and individuals for marine resource exploitation and use is issued on February 10, 2021 by the Government.
Accordingly, the duration for sea area assignment shall be considered and decided in every specific case based on the application for sea area assignment, investment project, and duration specified in the written permission for the exploitation and use of marine resources issued by competent state agencies, but must not exceed 30 years.
With regard to investment projects approved by competent state agencies or decided on investment policies, granted investment registration certificates or investment certificates
that have the duration exceeding 30 years, the duration for sea area assignment shall be considered and decided for more than 30 years but must not exceed the investment duration stated in written approvals or decisions on investment policies, investment registration certificates or investment certificates (except for investment projects on marine aquaculture).
Besides, the duration for sea area assignment may be extended for multiple times, but the total extension duration must not exceed 20 years.
This Decree takes effect on March 30, 2021.
