What are the procedures for appraising contents of investment projects prior to issuance of investment certificates in Vietnam?

What are the procedures for appraising contents of investment projects prior Issuance of investment certificates in Vietnam? (Internet image)

Article 18 of Decree 80/2010/ND-CP stipulates as follows:

1. The sequence for appraising scientific and technological contents of an investment project in which investment is approved by the Prime Minister complies with Vietnam's law on investment and following regulations:

• The agency competent to grant investment certificates shall send a written request for appraisal of conditions for foreign investment in science and technology, enclosed with 2 (two) sets of the project dossier, to the Ministry of Science and Technology;

• When elaborating the appraisal report for submission to the Prime Minister, the agency competent to grant investment certificates shall enclose it with the Science and Technology Ministry's opinions on the investment project's satisfaction of conditions for foreign investment in science and technology;

• Within 7 (seven) working days after granting an investment certificate, the granting agency shall send 1 copy of the investment certificate to the Ministry of Science and Technology.

2. The sequence of appraising scientific and technological contents of an investment project subject to appraisal prior to grant of investment certificates other than those specified above complies with Vietnam's law on investment and the following regulations:

• The agency competent to grant investment certificates shall send a written request for appraisal of a foreign-invested project in science and technology, enclosed with 2 (two) sets of the project dossier, to the Science and Technology Department of province or centrally run city in which the requester is headquartered, for institutional requesters, or reside, for individual requesters;

• The agency competent to grant investment certificates shall base itself on the provincial-level Science and Technology Department's opinions on the project's satisfaction of conditions for foreign investment in science and technology to consider and grant an investment certificate;

• Within 7 (seven) working days after granting an investment certificate, the granting agency shall send 1 (one) copy of the investment certificate to the Ministry of Science and Technology.

More details can be found in Decree 80/2010/ND-CP which comes into force from September 1, 2010.

Nguyen Phu

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