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Official Gazette

Friday, May 7, 2021

DECREE No. 108/2006/ND-CP:

Updated: 09:51’ - 06/10/2006

The Government issued this Decree on September 22 to detail and guide the implementation of a number of articles of the Investment Law.

According to the Decree, dossiers, investment projects and official documents sent to Vietnamese state agencies shall be made in Vietnamese.

Particularly, dossiers of foreign investment projects shall be made in Vietnamese or a common foreign language.

Foreign investors that invest in Vietnam for the first time must have investment projects and carry out procedures for the grant of investment certificates, which shall also serve as business registration certificates.

Domestic and foreign investors that have contributed 100% of capital for the establishment of limited liability companies, joint-stock companies, partnerships, private enterprises, or enterprises with 100% foreign capital in Vietnam may cooperate with one another and with other foreign investors in the establishment of new enterprises with 100% foreign capital.

Investors in Vietnam shall have the right to investment and business autonomy, be equally treated in accessing and using credit sources and using land and natural resources according to the provisions of law. They shall be entitled to directly import or export equipment, machinery, supplies, materials and goods or entrust others to do so.

They may also advertise, market, process and re-process goods used for investment activities; purchase and sell goods between export-processing enterprises and the domestic market; and open Vietnam-dong or foreign-currency accounts at licensed credit institutions. If they wish to open accounts at foreign banks, the Vietnam State Bank's permission shall be required.

This Decree shall annul Government Decrees No. 24/2000/ND-CP of July 31, 2000, No. 27/2003/ND-CP of March 19, 2003, No. 36/CP of April 24, 1997, No. 51/1999/ND-CP of July 8, 1999, and No. 152/2004/ND-CP of August 6, 2004, and other regulations on investment which are against its provisions.-

VNL_KH1 

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