Vietnam: Guidelines for investment procedures on the National Foreign Investment Information System

According to Vietnam’s current regulations, the National Foreign Investment Information System is a system used for issuing, adjusting, revoking Investment Registration Certificates; sending, receiving, storing, displaying data to serve management of foreign investment by the State. National Foreign Investment Information System consists of: National Foreign Investment Web Portal, National Foreign Investment Database, National Investment Promotion Database, and infrastructure system.

Investment procedures on the National Foreign Investment Information System are specified in Article 23 of Decree No. 118/2015/NĐ-CP of Vietnam’s Government. Specifically, before following procedures for issuance or adjustment of the Investment Registration Certificate, the investor shall provide information about the investment project on the National Foreign Investment Information System. Within 15 days from the day on which information is provided, the investor shall submit an application for issuance or adjustment of the Investment Registration Certificate to the investment registration authority.

After the application is received by the investment registration authority, the investor shall be given an account to access the National Foreign Investment Information System to monitor the application processing. The investment registration authority shall use the National Foreign Investment Information System to receive, process applications, and return results, update the processing, and issue project codes.

Notably, in case National Foreign Investment Information System is inaccessible, investment registration authority shall issue the Investment Registration Certificate under backup procedures below:

- The investment registration authority shall receive the physical application and request the Ministry of Planning and Investment to issue a code to the investment project. Within 02 days from the day on which the request is received, the Ministry of Planning and Investment shall issue the project code and notify the investment registration authority;

- Within 05 days from the day on which the Investment Registration Certificate is issued under the backup procedures, the investment registration authority shall update information about the project on the National Foreign Investment Information System.

View more details at Decree No. 118/2015/NĐ-CP of Vietnam’s Government, effective from December 27, 2015.

Thu Ba

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