Regulations on the Sequence and Procedures for Approval of Investment Policy by the Prime Minister the Government of Vietnam

Process and Procedures for Approving Investment Policy by the Prime Minister of the Government of Vietnam - Illustrative Image.

To be specific: Article 35 of the Investment Law 2020 provides detailed regulations on the process and procedures for approving investment policy by the Prime Minister of the Government of Vietnam as follows:

- The complete dossier as required is sent to the Ministry of Planning and Investment.

- Within 03 working days from the date of receipt of the complete dossier, the Ministry of Planning and Investment sends the dossier for appraisal opinions from relevant state agencies according to regulations.

- Within 15 days from the date of receipt of the dossier, the consulted agency shall provide appraisal opinions within the scope of its state management and send them to the Ministry of Planning and Investment.

- Within 40 days from the date of receipt of the dossier, the Ministry of Planning and Investment organizes the appraisal of the dossier and prepares an appraisal report including the appraisal contents according to regulations, and submits it to the Prime Minister of the Government of Vietnam for approval of the investment policy.

The Prime Minister of the Government of Vietnam shall review and approve the objectives, location, scale, progress, duration of project implementation; the investor or the form of investor selection and special mechanisms and policies (if any) to implement the investment project.

Additionally, Clause 6, Article 35 of the Investment Law 2020 stipulates that for investment projects under the investment policy approval authority of 02 or more provincial People's Committees, the Prime Minister of the Government of Vietnam shall designate the investment registration authority of one province or centrally-run city to issue the investment registration certificate for the entire project.

For detailed contents, see more at Investment Law 2020, effective January 1, 2021.

Le Vy

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE