Tourism Act
2 articles
BusinessNew rules allow SOEs to acquire tourism sites by offsetting debt
New regulations allow state-owned enterprises to acquire land for resort development by offsetting costs against government debt. While SOEs must pay acquisition fees in a single lump sum, they can now use outstanding state payables to settle these costs. Subleasing is prohibited, but companies may hire external parties for management.
BusinessNew rules to reclaim resorts after paying compensations
The Auditor General’s Office has issued a new regulation for compensating lessees when the state reclaims resorts after lease expiry or for public use. Compensation is based on asset value minus depreciation, excluding items that are unusable or breach agreements. No payments will be made if a resort is seized due to a contract violation.