Legal Counselling

Vietnam: Time limit for finalization of outward investment project

Thu Hiền

09:20, 17/06/2018

After the completion of the investment project, the investor must finalize the investment project under the petroleum agreement and in accordance with regulations of the host country’s laws.

According to Article 30 of Decree No. 124/2017/NĐ-CP of Vietnam’s Government, the time limit for finalization of outward investment project is specified as follows:

- Within 06 months from the day on which the annual tax statement or any document of equivalent value is available according to laws of the host country, the investor must transfer the entire remaining receipts from the finalization to Vietnam.

- In case extension is needed, at least 60 days before the expiry date, the investor must submit a written request specifying reasons for extension to the Ministry of Planning and Investment.

- Within 15 days since receipt of the written request, the Ministry of Planning and Investment shall issue a written response regarding the extension to the investor.

- Extension shall be granted only once and not in excess of 06 months.

- Within 60 days since completion of the finalization of the investment project and transfer of entire remaining receipts (if any), the investor shall apply for termination of the outward investment project as prescribed in Article 31 of this Decree.

View detailed procedures for finalization of outward investment project at Decree No. 124/2017/NĐ-CP of Vietnam’s Government, effective from January 01, 2018.

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