What is investment supervision according to the law in Vietnam? What contents are included in the form for supervision and overall assessment of investment reports in 2024 in Vietnam?

What contents are included in the form for supervision and overall assessment of investment reports in 2024 in Vietnam?

The form for supervision and overall assessment of investment reports in 2024 in Vietnam is specified in Form 01 issued together with Circular 05/2023/TT-BKHDT.

You can view the details and download the form for supervision and overall assessment of investment reports here.

What is investment supervision according to the law in Vietnam? What contents are included in the form for supervision and overall assessment of investment reports in 2024 in Vietnam? - image from internet

What is investment supervision according to the law in Vietnam?

Pursuant to Article 3 of the Decree 29/2021/ND-CP stipulating investment supervision:

Definitions

For the purposes of this Decree, the terms below shall be construed as follows:

1. “investment supervision” means activities that involve investment monitoring and inspection. Investment supervision includes supervision of investment programs/projects and overall investment supervision.

2. “monitoring of investment program/project” means regular and periodic activities that involve update of information about progress of the project; consolidation, analysis and evaluation of information, proposal of plans serving the issuance of decisions by regulatory authorities in order to ensure the project’s adherence to its objectives and schedule, quality, and capacity of determined resources.

3. “investment program/project inspection” means periodic or ad hoc activities meant to inspect the conformity with regulations on project management of relevant organizations and individuals; promptly discover errors and weaknesses in project management as prescribed by law; request competent authorities to resolve difficulties that arise and deal with acts against regulations on project management; supervise the implementation of measures for resolving discovered issues.

4. “investment program/project assessment” means periodic or ad hoc activities meant to determine the extent of target accomplishment compared to the investment decision or assessment standards established by the state at a certain point of time. Investment program/project assessment includes: initial assessment, midterm assessment, terminal assessment, impact assessment, and ad hoc assessment.

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As regulated above, investment supervision means activities that involve investment monitoring and inspection. Investment supervision includes supervision of investment programs/projects and overall investment supervision.

What are responsibilities of the Ministry of Planning and Investment for supervision and assessment of investment in Vietnam?

Pursuant to Article 91 of the Decree 29/2021/ND-CP, the Ministry of Planning and Investment for supervision and assessment of investment have following responsibilities:

- Provide guidance, monitor and submit consolidated reports on nationwide investment supervision and assessment to the Prime Minister.

- Organize overall investment supervision and assessment nationwide.

- Organize and review supervision and assessment of programs and projects of which investment guidelines are decided or approved by the Prime Minister, the Government or the National Assembly.

- Carry out supervision and assessment of projects under their management (including those assigned to inferior agencies).

- Propose solutions for overcoming difficulties in investment of departments and local authorities or particular projects to the Prime Minister, relevant ministries and local authorities in order to ensure investment progress and efficiency.

- Consider and offer opinions or resolve issues within its jurisdiction at the request of other ministries, local authorities and project owners.

- Provide guidelines for investment supervision and assessment of foreign investment activities in Vietnam.

- Perform other duties related to supervision and assessment of investment at the request of the Government or the Prime Minister.

*Note: The investment report supervision under Decree 29/2021/ND-CP applies to following investment projects:

- National important projects as regulated in the Law on Public Investment in 2019, and the Law on Construction in 2014.

- Projects approved by the National Assembly for investment decision-making under the Law on Public – Private Partnership Investment in 2020.

- Projects approved by the National Assembly for investment decision-making under the Law on Investment in 2020.