Regulations on eligibility of bidders or investors in Vietnam in 2024

Regulations on eligibility of bidders or investors in Vietnam in 2024 (Internet image)

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

Regulations on eligibility of bidders or investors in Vietnam in 2024

Pursuant to Article 5 of the Law on Bidding 2023, regulations on eligibility of bidders or investors in Vietnam are as follows:

(1) A bidder or investor that is an organization shall be deemed to be eligible if meeting the following requirements:

- A domestic bidder or investor must be an enterprise, cooperative, cooperative union, artel, public sector entity or foreign-invested business organization that is duly established and operating under the law of Vietnam. A foreign bidder or investor must be duly established and operating under the law of a foreign country;

- It must keep independent accounting records;

- It is not undergoing dissolution process or subject to revocation of enterprise registration certificate, cooperative/cooperative union/ artel registration certificate; is not facing insolvency as prescribed by the law on bankruptcy;

- Its name is registered on VNEPS before the grant of approval for contractor or investor selection result;

- It must ensure competitiveness in bidding as prescribed in Article 6 of the Law on Bidding 2023;

- It is not being prohibited from participating in bidding according to a decision issued by a competent person, Minister, head of ministerial agency, Governmental agency or another central-government agency, or Chairperson of the provincial-level People’s Committee as prescribed in Clause 3 Article 87 of this Law;

- It is not liable to criminal prosecution;

- Its name is included in the shortlist in case the shortlist has been made available;

- A foreign bidder is requested to enter into a consortium with a domestic bidder or will subcontract domestic bidders, unless domestic bidders are incapable of performing any tasks of the package.

(2) A bidder that is a household business shall be deemed to be eligible if meeting the following requirements:

- It has a valid certificate of household business registration issued in accordance with regulations of law;

- It is not undergoing the process of operation termination or subject to revocation of certificate of household business registration; the owner of the household business is not liable to criminal prosecution;

- It meets the requirements laid down in Points d, dd, e and h Clause 1 of Article 5 of the Law on Bidding 2023.

(3)  A bidder or investor that is an individual shall be deemed to be eligible if meeting the following requirements:

- He/she has full capacity for civil acts in accordance with regulations of the law of the country whose citizenship he/she is holding;

- He/she possesses appropriate professional certificate(s) if required by laws;

- He/she meets the requirements laid down in Points e and g Clause 1 of Article 5 of the Law on Bidding 2023.

(4) A bidder or investor that meets the eligibility requirements laid down in the above regulations may participate in the bidding as an independent bidder or consortium bidder.

Ho Quoc Tuan

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