Vietnam: Full procedures for adjustment of Outward investment certificate

Specifically, the order and procedures for adjustment of Outward investment certificate are specified in Article 17 of Decree No. 83/2015/ND-CP of Vietnam’s Government as follows:

Step 1: The investor shall submit three sets of applications (one of which is original) to the Ministry of Planning and Investment for making adjustments to the Outward investment certificate; at the same time register investment information on the national information system on inward investment and outward investment as prescribed in Article 18 hereof.

Step 2: The applications shall be received by the Ministry of Planning and Investment when they fully include document items as prescribed hereof and are registered on the national information system on inward investment and outward investment.

Step 3: The Minister of Planning and Investment shall inspect eligibility of the applications. In case the application is ineligible or needs clarifying some information, within five working days since receipt of the application, the Ministry of Planning and Investment shall issue a written notice to the investor for completion.

For adjusted projects with capital from VND 20 billion and over in foreign currency being transferred overseas, the Ministry of Planning and Investment shall make a written request for suggestions from the State Bank of Vietnam as prescribed in Clause 3, Article 58 of the Law on Investment of Vietnam. Within seven working days since receipt of written request, the State Bank of Vietnam shall issue suggestions in writing to the Ministry of Planning and Investment. After the time limit as prescribed, no suggestions in writing are provided, the application is deemed approved by the State Bank of Vietnam with respect to issues within state administration competence.

Step 4: The Ministry of Planning and Investment shall make adjustments to the Outward investment certificate according to the time limit as prescribed in Clause 3, Article 61 of the Law on Investment and send each of its copy to the Ministry of Finance, the Ministry of Foreign Affairs, the Ministry of Labor, Invalids and Social Affairs, managing Ministries, the State Bank of Vietnam and People’s committees of central-affiliated cities and provinces where the investor is headquartered.

In case the application fails to meet requirements as prescribed, the Ministry of Planning and Investment shall issue a written notice about refusal to make adjustments to the Outward investment certificate and state the reasons to the investor.

View full text at Decree No. 83/2015/ND-CP of Vietnam’s Government, effective from September 25, 2015.

Thu Ba

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