Decree 80/2010/ND-CP: Conditions for offshore investment in science and technology in Vietnam

Decree 80/2010/ND-CP: Conditions for offshore investment in science and technology in Vietnam (Internet image)

The conditions for offshore investment in science and technology in Vietnam are stipulated in Article 19 of Decree 80/2010/ND-CP. To be specific:

Apart from complying with the law on overseas direct investment, offshore investment projects on science and technology must meet the following conditions:

• Having a project on offshore investment in science and technology;

• Obtaining permission for the Ministry of Science and Technology;

• Having an investment certificate granted by the Ministry of Planning and Investment.

- Procedures for offshore investment in science and technology in Vietnam

Vietnamese organizations and individuals are encouraged by the State to make offshore investment in science and technology and shall carry out investment procedures according to Vietnam's law on offshore investment. The Ministry of Planning and Investment shall send dossiers of projects on offshore investment in science and technology to the Ministry of Science and Technology for appraisal of conditions for offshore investment in science and technology.

- Sequence of appraising projects on offshore investment in science and technology in Vietnam

The sequence of appraising projects on offshore investment in science and technology complies with Vietnam's law on offshore investment and the following regulations:

• The Ministry of Planning and Investment shall send an official letter requesting appraisal of a project on offshore investment in science and technology, enclosed with 2 (two) sets of the project dossier, to the Ministry of Science and Technology.

• Within 15 (fifteen) working days after receiving the written request from the Ministry of Planning and Investment, the Ministry of Science and Technology shall appraisal the project dossier and give its opinions on the project's satisfaction of conditions for offshore investment in science and technology.

• For investment projects in which investment is approved by the Prime Minister, when elaborating an appraisal report for submission to the Prime Minister, the Ministry of Planning and Investment shall enclose it with the Science and Technology Ministry's appraisal opinions on the project's satisfaction of conditions for offshore investment in science and technology.

• Within 7 (seven) working days after granting an investment certificate, the Ministry of Planning and Investment shall send 1 (one) copy of the investment certificate to the Ministry of Science and Technology.

More details can be found in Decree 80/2010/ND-CP, which comes into force from September 1, 2010.

Nguyen Phu

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