Application for Approval of Investment Policy Proposed by the Investor

Application for Approval of Investment Policy Proposed by Investor - Illustrative Image.

To be specific:, Clause 1, Article 33 of the Law on Investment 2020, stipulates that the application for approval of the investment policy proposed by the investor includes:

- Written request for project implementation, including commitment to bear all costs and risks if the project is not approved;

- Documents on the legal status of the investor;

- Documents proving the investor's financial capacity, including at least one of the following: the investor's financial statements for the last 2 years; commitment of financial support from the parent company; commitment of financial support from a financial institution; guarantee of the investor's financial capacity; other documents proving the investor's financial capacity;

- Investment project proposal including the following main contents: the investor or the method of selecting the investor, investment objectives, investment scale, investment capital and fundraising plan, location, duration, implementation schedule, information about the current land use status at the project location and proposed land use needs (if any), labor needs, proposed investment incentives, socio-economic impacts and efficiency of the project, preliminary environmental impact assessment (if any) according to the provisions of the law on environmental protection.

In case the law on construction requires a pre-feasibility study report, the investor is allowed to submit a pre-feasibility study report instead of an investment project proposal;

- In case the investment project does not request the State to allocate land, lease land, or permit the change of land use purpose, submit copies of documents on land use rights or other documents determining the right to use the site for project implementation;

- Explanation of technologies used in the investment project for projects subject to technology assessment and consultation according to the provisions of the law on technology transfer;

- BCC contract for investment project in the form of BCC contract;

- Other documents related to the investment project, requirements on conditions and capacity of the investor according to the provisions of the law (if any).

To obtain approval for the investment policy, the investor needs to prepare all the above-mentioned documents and submit them to the competent authority.

See detailed contents at Law on Investment 2020 effective from January 1, 2021.

Le Vy

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