Vietnam: Issuance of Investment Registration Certificate to investment project that is not required to have a decision on investment guidelines

Procedures for issuance of Investment Registration Certificate to investment project that is not required to have a decision on investment guidelines are specified in Article 29 of Decree No. 118/2015/NĐ-CP of Vietnam’s Government, including the following steps:

Step 1: The investor shall submit 01 application for investment registration specified in Clause 1 Article 33 of the Law on Investment of Vietnam to the investment registration authority. To be specific:

- An application form for execution of the investment project;

- Copies of the ID card or passport (if the investor is an individual) or Certificate of Enterprise Registration or another document with equivalent legal value (if the investor is an organization);

- Proposal for the investment project including the following main contents: investor or method of investor selection, investment objectives, investment scale, investment capital and plan for raising capital, location, duration and schedule of the investment project, information about the current use of land in the location of the project, demand for labor, proposal for investment incentives, impact and socio – economic efficiency of the project and preliminary assessment of environmental impact (if any) in accordance with regulations of law on environmental protection;

- Document(s) proving the financial capacity of the investor including at least one of the following documents: the investor’s financial statements for the last two years; commitment of a parent company to provide financial support; commitment of a financial institution to provide financial support; guarantee for the investor’s financial capacity; other document proving the investor’s financial capacity;

- Proposed demand for land use; in case the project does not request the State to allocate land, lease land, or allow change of land use purpose, a copy of the location rental agreement or other documents certifying that the investor has the right to use the location to carry out the investment project is required;

- Explanation for the technology to be used in the investment project specified in Point b Clause 1 Article 32 of the Law on Investment, including: technology name, technology origin, technology process diagram; main technical parameters, usage status of main machinery, equipment and technological lines;

- The business cooperation contract if the investment project is executed under a business cooperation contract.

However, if the investment project is being executed, the project proposal in the application shall be replaced with a report on project execution for the period from the beginning of the project execution to the submission of the application for the Investment Registration Certificate.

Step 2: The investment registration authority shall issue the Investment Registration Certificate within 15 days from the receipt of the valid application as set out in Clause 1 of this Article if the conditions below are satisfied:

- The project does not involve the business lines banned from investment;

- The project satisfied conditions applied to foreign investors specified in Clause 1 Article 10 of this Decree (if any).

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

Thu Ba

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