05 Cases Requiring the Suspension of Investment Project Operations

05 cases of mandatory suspension of investment projects - Illustrative photo.

According to Article 47 of the Investment Law 2020, the state investment management agency decides to suspend or partially suspend the operations of an investment project in the following 05 cases:

- To protect relics, antiques, national treasures as per provisions of the Cultural Heritage Law;

- To rectify violations of environmental protection laws upon the proposal of the state environmental management agency;

- To implement measures to ensure labor safety upon the proposal of the state labor management agency;

- According to the judgment or decision of the Court, arbitration award;

- The investor does not comply with the content of investment policy approval, the Investment Registration Certificate and has been administratively sanctioned but continues to violate.

Additionally, the Prime Minister of the Government of Vietnam decides to suspend or partially suspend the operations of an investment project if the implementation of the project harms or poses a risk of harming national defense and security upon the proposal of the Ministry of Planning and Investment.

Note: Investors suspending the operations of an investment project must notify the investment registration agency in writing. In cases where the project is suspended due to force majeure, the State exempts or reduces land rent and land levy during the suspension period to address the consequences caused by force majeure.

For detailed contents, see more at Investment Law 2020, effective from January 01, 2020.

Le Vy

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