What does application for issuing the outward investment registration certificate for petroleum projects subject to approval for its outward investment guidelines in Vietnam include?
What does application for issuing the outward investment registration certificate for petroleum projects subject to approval for its outward investment guidelines in Vietnam include?
Pursuant to Clause 1, Article 8 of Decree 132/2024/ND-CP, which stipulates the application, sequence, and procedures for issuing the outward investment registration certificate for petroleum projects subject to approval for its outward investment guidelines in Vietnam:
Article 8. Application, sequence, and procedures for issuing an outward investment registration certificate for petroleum projects subject to approval for its outward investment guidelines in Vietnam
1. The application for issuance of an outward investment registration certificate for petroleum projects subject to approval for its outward investment guidelines in Vietnam includes the following documents:
a) Documents as prescribed at points a, b, c, d, đ, e of Clause 1, Article 57 of the Investment Law;
b) For the document specified at point c, Clause 1, Article 57 of the Investment Law, the investor must fully assess technical, economic, and environmental investment risks in the host country and other risks appropriate to the nature of the project or the phases of the overseas petroleum project;
c) For the document specified at point đ, Clause 1, Article 57 of the Investment Law, if the investor submits a declaration of commitment to balance foreign currency sources independently, it must be accompanied by a document from a licensed credit institution confirming the foreign currency account balance of the investor;
d) A document from the tax authority confirming the investor's tax obligations as prescribed at Clause 5, Article 60 of the Investment Law;
[...]
Thus, the application for issuance of an outward investment registration certificate for petroleum projects subject to approval for its outward investment guidelines in Vietnam includes the following documents:
[1] outward investment Registration Document
[2] Documents regarding the legal status of the investor
[3] Investment project proposal including the following main contents:
- Form, objectives, scale, and location of investment
- Preliminary determination of investment capital, capital mobilization plan, and capital structure
- Project implementation schedule and investment phases (if any)
- Preliminary analysis of the investment project's effectiveness
Note: The investor must fully assess technical, economic, and environmental investment risks in the host country and other risks appropriate to the nature of the project or the phases of the overseas petroleum project.
[4] Documents proving the financial capability of the investor, including at least one of the following:
- Financial statements for the last two years of the investor
- Financial support commitment from the parent company
- Financial support commitment from a financial institution
- Guarantee of the investor's financial capability
- Other documents proving the investor's financial capability
[5] Commitment to independently balance foreign currency sources or declaration of commitment to arrange foreign currency for the investor by a licensed credit institution
Note: If the investor submits a declaration of commitment to independently balance foreign currency sources, it must be accompanied by a document from a licensed credit institution confirming the foreign currency account balance of the investor
[6] Documents from the owner's representative agency approving the investor to conduct outward investment activities and the internal appraisal report on the outward investment proposal of the state-owned enterprise or outward investment decision
[7] Documents from the tax authority confirming the investor's tax obligations
[8] Documents confirming the location of the overseas petroleum project
[9] Documents determining the form of outward investment
[10] Report on lending to an overseas economic organization to conduct petroleum activities abroad (if any), including contents: borrower’s name; total loan amount; purpose, lending conditions; disbursement plan; debt recovery plan; asset security measures and secured asset handling methods (if any); foreign currency balance plan for lending; evaluation of the financial capability of the borrower; risk level and anticipated risk prevention measures for the loan
[11] Documents determining the performance of guarantee obligations arising if the overseas petroleum project involves the investor guaranteeing an overseas economic organization’s loan to implement the project
[12] Other relevant documents
What does application for issuing the outward investment registration certificate for petroleum projects subject to approval for its outward investment guidelines in Vietnam include? (Internet image)
The National Assembly has power to approve outward investment guidelines of what kind of projects in Vietnam?
Pursuant to Article 56 of the Investment Law 2020 stipulating the authority to approve outward investment guidelines:
Article 56. Authority to Approve outward investment guidelines
1. The National Assembly approves the outward investment guidelines for the following investment projects:
a) Investment projects with overseas capital of 20,000 billion VND or more;
b) Investment projects that require application of special mechanisms or policies that need to be decided by the National Assembly.
2. Except for the investment projects specified in Clause 1 of this Article, the Prime Minister of the Government of Vietnam approves outward investment guidelines for the following investment projects:
a) Investment projects in the fields of banking, insurance, securities, press, broadcasting, television, telecommunications with overseas capital of 400 billion VND or more;
b) Investment projects not specified in point a of this Clause with overseas capital of 800 billion VND or more.
3. Investment projects that do not fall under the provisions of Clauses 1 and 2 of this Article do not require approval of outward investment guidelines.
Thus, the National Assembly approves the outward investment guidelines for the following investment projects:
- Investment projects with overseas capital of 20,000 billion VND or more
- Investment projects that require application of special mechanisms or policies that need to be decided by the National Assembly
What are forms of outward investment in Vietnam?
Pursuant to Article 52 of the Investment Law 2020 stipulating forms of outward investment in Vietnam:
- Establishment of economic organizations pursuant to the laws of the host country
- Investment in contractual forms abroad
- Contribution of capital, purchase of shares, acquisition of capital contributions of foreign economic organizations to participate in managing those organizations
- Purchase, sale of securities, other valuable papers, or investment through securities investment funds, other intermediary financial institutions abroad
- Other investment forms pursuant to the laws of the host country
