Approval of Investment Policy: What is it?

According to the new regulations related to investment, may I ask what the approval of investment policy according to the new law means? I look forward to your response.

Clause 1, Article 3 of the Investment Law 2020 (effective from January 1, 2021) stipulates:

Approval of investment policy is the acceptance by a competent state agency regarding the objectives, location, scale, progress, duration for the implementation of the project; the investor or the form for selecting the investor and special mechanisms, policies (if any) to implement the investment project.

The above is our support regarding the concept of Approval of Investment Policy.

Sincerely!

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