Procedures for announcing business investment projects not subject to approval for their investment guidelines proposed by an investor in Vietnam

Procedures for announcing business investment projects not subject to approval for their investment guidelines proposed by an investor in Vietnam (Internet image)

Regarding this issue, LawNet would like to answer as follows:

On March 5, 2024, the Minister of Planning and Investment issued Decision 261/QD-BKHDT announcing new bidding-related administrative procedures regarding investor selection under the Ministry of Planning and Investment.

1. Procedures for announcing business investment projects not subject to approval for their investment guidelines proposed by an investor in Vietnam

Procedures for announcing a business investment project not subject to approval for its investment guidelines proposed by an investor are as follows:

(i) Investors prepare project proposal documents. Investors bear all costs of preparing project proposal documents;

(ii) Investors submit applications in one of the following two cases:

- For investment projects where the Provincial People's Committee is the competent authority, the investor submits 04 sets of project proposal documents to the Department of Planning and Investment. Within 03 working days from the date of receiving the project proposal, the Department of Planning and Investment reports to the Chairman of the Provincial People's Committee to assign a specialized agency to synthesize and review investors' project proposals;

- For investment projects where the Economic Zone Management Board is the competent authority, the investor submits 04 sets of project proposals to the agency or unit assigned by the Head of the Economic Zone Management Board to receive and review the investor's project proposals;

(iii) Within 25 days from the date of assignment, the agency or unit shall review the suitability of the project proposal and submit to the competent person for approval the business investment project information;

(iv) Competent agencies organize and post information about business investment projects proposed by an investor on the National Bidding Network System within 05 working days at the latest from the date the approval document is issued.

2. Application for announcing business investment projects not subject to approval for their investment guidelines proposed by an investor in Vietnam

- The investor's business investment project proposal includes information specified in Points b, c, d, and e, Clause 2, Article 47 of the Law on Bidding 2023, specifically including:

+ Project name; target; investment scale; investment;

+ Project implementation location; Current status of land use and area of land for project implementation; purpose of using land; approved planning targets;

+ Project deadline and progress; preliminary investment phasing plan or project division (if any); Project implementation progress in each phase (if any);

+ Other related content (if any).

- Document components as prescribed in Points a, b and c, Clause 1, Article 33 of the Law on Investment 2020, specifically include:

(i) Written request to implement the investment project, including a commitment to bear all costs and risks if the project is not approved;

(ii) Documents on the investor's legal status;

(iii) Documents proving the investor's financial capacity include at least one of the following: the investor's 02 most recent financial statements; commitment to financial support from the parent company; commitment to financial support from financial institutions; a guarantee of the investor's financial capacity; and documents proving the investor's financial capacity.

Nguyen Ngoc Que Anh

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