Shall the starting time for organizing the investor selection in Vietnam be publicly disclosed in the project details?
- In the investor selection process in Vietnam, at which step does the public disclosure of the investment project take place?
- Vietnam: Shall the starting time for organizing the investor selection be publicly disclosed in the project details?
- What are the regulations on Investor selection duration in Vietnam?
In the investor selection process in Vietnam, at which step does the public disclosure of the investment project take place?
Pursuant to Article 46 of the Law on Bidding 2023 on investor selection process:
Investor selection process
1. Investor selection process includes the following steps:
a) Public disclosure of the investment project;
b) Preparation for bidding, including: preparation, appraisal and approval of bidding documents;
c) Organization of bidding activities, including: invitation for bid; issuance, amendment and clarification of bidding documents; preparation, submission, receipt, management, modification, withdrawal and substitution of bids;
d) Bid evaluation, including: bid opening; examination and evaluation of validity of bids; detailed evaluation of bids;
dd) Submission, appraisal, approval and disclosure of investor selection result; provision of explanations for investors as to why they were not successful (if any);
e) Negotiation, completion and signing of contract.
2. In case there are 02 or more investors showing interest in a project and thus the investor selection must be conducted through bidding as prescribed by the Law on land or a specialized law, in addition to the steps specified in Clause 1 of this Article, the competent authority shall prepare the EOI request, send invitation for EOIs, organize evaluation of applications for project execution, and approve EOI selection result before preparing for bidding as prescribed in Point b Clause 1 of this Article.
3. The Government shall elaborate this Article.
Investor selection process includes the following steps:
Step 1: Public disclosure of the investment project;
Step 2: Preparation for bidding, including: preparation, appraisal and approval of bidding documents;
Step 3: Organization of bidding activities, including: invitation for bid; issuance, amendment and clarification of bidding documents; preparation, submission, receipt, management, modification, withdrawal and substitution of bids;
Step 4: Bid evaluation, including: bid opening; examination and evaluation of validity of bids; detailed evaluation of bids;
Step 5: Submission, appraisal, approval and disclosure of investor selection result; provision of explanations for investors as to why they were not successful (if any);
Step 6: Negotiation, completion and signing of contract.
Therefore, according to the regulations, the public disclosure of the investment project is the first step in the investor selection process.
Shall the starting time for organizing the investor selection in Vietnam be publicly disclosed in the project details?
Vietnam: Shall the starting time for organizing the investor selection be publicly disclosed in the project details?
Pursuant to Article 47 of the Law on Bidding 2023 on public disclosure of investment projects:
Public disclosure of investment projects
1. Competent authorities shall make information on investment projects publicly available on VNEPS which shall be used as the basis for organization of investor selection.
2. Project details to be publicly disclosed include:
a) Decision on approval of investment guidelines (if any);
b) Project’s name; investment objectives and scale; total investment;
c) Location of the project; current use of land, land area used for executing the project; land use purposes; approved planning indicators;
d) Project execution duration and schedule; preliminary plan for investment phasing or division of component projects (if any); execution schedule of each stage of the project (if any);
dd) Name of the procuring entity; investor selection method and procedure;
e) Other related contents.
Project details to be publicly disclosed include
- Decision on approval of investment guidelines (if any);
- Project’s name; investment objectives and scale; total investment;
- Location of the project; current use of land, land area used for executing the project; land use purposes; approved planning indicators;
- Project execution duration and schedule; preliminary plan for investment phasing or division of component projects (if any); execution schedule of each stage of the project (if any);
- Name of the procuring entity; investor selection method and procedure;
- Other related contents.
Therefore, the starting time for organizing the investor selection must be publicly disclosed in the project details.
What are the regulations on Investor selection duration in Vietnam?
Pursuant to Article 49 of the Law on Bidding 2023 on the Investor selection duration:
- In case of domestic bidding, the minimum period between the first date on which the bidding documents are issued and the deadline for submission of bids which is given for investors to prepare their bids shall be 45 days;
- In case of international bidding, the minimum period between the first date on which the bidding documents are issued and the deadline for submission of bids which is given for investors to prepare their bids shall be 60 days;
- The period for performing the tasks other than those specified in Clause 1 and Clause 2 of this Article shall be decided by the competent person or procuring entity in a manner that ensures the investment project execution schedule.
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