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Official Gazette

Thursday, December 3, 2020

Examination of foreign investment projects

Updated: 10:03’ - 14/06/2011

I. Examination of investment projects capitalized at VND 300 billion or more and outside conditional investment domains

1. An investment examination dossier comprises:

- An application for an investment certificate (made according to a set form);

- Written certification of the legal status of the investor: A copy of the establishment decision or business registration certificate or document of equivalent validity, for institutional investors; a copy of the passport or identity card, for individual investors;

- Report on the investor’s financial capability (which is made by the investor who shall bear the responsibility therefor);

- Econo-technical exposition containing the following details: investment objectives, scale and location; investment capital; project execution schedule; land use needs; technological and environmental solutions;

- Business cooperation contract, for investment under a business cooperation contract.

2. In order to carry out investment procedures simultaneously with business registration procedures, in addition to the above dossier, the investor shall also submit:

- The business registration dossier corresponding to the type of enterprise as stipulated in the enterprise law and relevant laws;

- Joint-venture contract, for investment in the form of establishment of a joint venture between a domestic investor and a foreign investor.

3. Examination contents:

- Conformity with the technical infrastructure planning; the land use planning; the construction planning; the planning on exploration, exploitation and processing of minerals and other natural resources.

For an investment project in a domain without planning or which is not included in any of the aforesaid plannings, the investment certificate-granting agency shall consult state management agencies with planning competence;

- Land use needs: land area, land category and land use schedule;

- Project execution schedule: investment capital disbursement schedule, construction schedule and schedule of achievement of project objectives;

- Environmental solutions: assessment of environmental impact factors and treatment solutions in accordance with the environment law.

II. Examination of investment projects capitalized at under VND 300 billion and in conditional investment domains

1. An investment examination dossier comprises:

- The papers required for investment projects capitalized at VND billion 300 or more and outside conditional investment domains;

- Exposition on the capability to satisfy the conditions required by law, for investment projects in conditional investment domains.

2. Examination contents:

Capability to satisfy the conditions required by the Investment Law and relevant laws;

Concerned ministries and branches shall examine the capability to satisfy the conditions required by law, for investment projects in conditional investment domains;

When investment conditions are provided by law or a treaty to which Vietnam is a contracting party, the investment certificate-granting agency shall decide to grant an investment certificate without having to gather examination opinions of concerned ministries and branches.

III. Examination of investment projects capitalized at VND 300 billion or more and in conditional investment domains

1. An investment examination dossier comprises:

- The papers required for investment projects capitalized at VND 300 billion or more and outside conditional investment domains;

- Exposition on the capability to satisfy the market entry conditions required for investment projects in conditional investment domains.

2. The examination contents are the same as stipulated in Sections I & II.

IV. Process of examination of investment projects

1. Process of examination of investment projects falling within the approving competence of the Prime Minister

An investor shall submit 10 sets of investment project dossier, including at least one original set.

Within 3 working days after the receipt of an investment project dossier, the dossier-receiving agency shall check its validity and send it to concerned ministries and branches for examination opinions.

For an invalid dossier, the dossier-receiving agency shall notify the investor thereof for modification and supplementation.

Within 15 working days after the receipt of an investment project dossier, the consulted agency shall give written examination opinions and take responsibility for the matters under its management.

Within 25 working days after the receipt of a complete and valid dossier, the investment certificate-granting agency shall make an examination report and submit it to the Prime Minister for decision on the investment policy.

Within 7 working days after the receipt of an examination report submitted by a provincial-level People’s Committee or a management board, the Government Office shall notify in writing the Prime Minister’s opinion on the investment project.

Within 5 working days after the receipt of the Prime Minister’s approval, the provincial-level People’s Committee or management board shall grant an investment certificate.

If an investment project is disapproved, the investment project dossier-receiving agency shall send a written notice to the investor, clearly stating the reason for disapproval.

Within 7 working days after the grant of an investment certificate, the investment project dossier-receiving agency shall send its copies to the Ministry of Planning and Investment, the Ministry of Finance, the Ministry of Industry and Trade, the Ministry of Natural Resources and Environment, the State Bank of Vietnam, the line ministry and concerned agencies.

2. Process of examination of investment projects subject to examination for grant of investment certificates

The investor shall submit to the provincial-level Planning and Investment Service 8 sets of investment project dossier, including one original set, for projects to be granted investment certificates by provincial-level People’s Committees; or submit to the management board 4 sets of investment project dossier, including one original set, for projects to be granted investment certificates by management boards.

Within 3 working days after the receipt of an investment project dossier, the dossier-receiving agency shall check its validity and send it to concerned provincial-level services and branches for examination opinions. When necessary, it shall send the dossier to concerned ministries and branches for opinions

For an invalid dossier, the dossier-receiving agency shall notify the investor thereof for modification and supplementation.

Within 15 working days after the receipt of an investment project dossier, the consulted agency shall give its written examination opinions and take responsibility for the matters under its management.

Within 20 working days after the receipt of a complete and valid dossier, the provincial-level Planning and Investment Service shall make an examination report and submit it to the provincial-level People’s Committee for decision.  Within 5 working days after the receipt of the examination report, the provincial-level People’s Committee shall grant an investment certificate.

If the investment project is disapproved, the investment project dossier-receiving agency shall send a written notice to the investor, clearly stating the reason for disapproval.

Within 7 working days after the grant of an investment certificate, the investment project dossier-receiving agency shall send its copies to the Ministry of Planning and Investment, the Ministry of Finance, the Ministry of Industry and Trade, the Ministry of Natural Resources and Environment, the State Bank of Vietnam, the line ministry and concerned agencies.-

 

Investment domains conditional for foreign investors

(List promulgated together with Government Decree No. 108/2006/ND-CP
of September 22, 2006)

1. Broadcasting and television.

2. Production, publishing and distribution of cultural products.

3. Exploitation and processing of minerals.

4. Establishment of infrastructures for telecommunications networks, transmission and provision of Internet and telecommunications services.

5. Establishment of public postal networks and provision of postal services and mail delivery services.

6. Construction and operation of river ports, seaports, airports and airfields.

7. Transportation of goods and passengers by railway, air, road, sea and inland waterways.

8. Sea-fishing.

9. Production of cigarettes.

10. Real estate business.

11. Investment in import, export and distribution.

12. Education and training.

13. Hospitals and clinics.

14. Other investment domains in treaties to which Vietnam is a contracting party and which restrict the opening of the market to foreign investors.

Investment conditions applicable to foreign investors with investment projects in the domains specified in this List must conform with the provisions of treaties to which Vietnam is a contracting party.-

 

VNL_KH1 

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