Four Cases Where Investors Are Not Required to Follow the Investment Policy Approval ProcessThis is one of the notable contents in Investment Law 2020 officially passed by the 14th National Assembly during its 9th session.
Article table of contents
04 cases where investors are not required to implement investment policy approval procedures - Illustrative image
To be specific, in Article 77 regarding transitional provisions, Investment Law 2020 clearly states that investors are not required to implement investment policy approval procedures under the provisions of this Law for investment projects in one of the following cases:
1 - The investor was approved for investment policy, accepted for investment policy, or accepted for investment by the competent state agency according to the legal provisions on investment, housing, urban development, and construction before January 1, 2021 (the effective date of the Investment Law 2020);
2 - The investment project is not subject to investment policy approval, investment policy decisions, investment approvals, or issuance of the Investment Registration Certificate according to the provisions of the law on investment, housing, urban development, and construction, and the investor has implemented the investment project according to the legal provisions before January 1, 2021;
3 - The investor has won the bid for investor selection or won the land use rights auction before January 1, 2021;
4 - The project was issued with an Investment Incentives Certificate, Investment License, Investment Certificate, or Investment Registration Certificate before January 1, 2021.
In case of adjustments to the above-mentioned investment projects, if the adjustment contents fall under the investment policy approval as stipulated in the Investment Law 2020, the procedures for investment policy approval or investment policy adjustment must be carried out according to the provisions of the Investment Law 2020.
Additionally, the Investment Law 2020 also stipulates that investment projects that have been implemented or approved, allowed to be implemented according to the legal provisions before July 1, 2015, which fall under the guarantee of project implementation according to the provisions of the Investment Law 2020, are not required to make deposits or have a bank guarantee for deposit obligations. In cases where investors adjust the objectives, and progress of project implementation, or change the land use purpose after January 1, 2021, they must make deposits or have a bank guarantee for deposit obligations according to the provisions of this Law.
Nguyen Trinh
