From 2021, what investment projects will require approval of investment guidelines from the Prime Minister of Vietnam?

From 2021, what investment projects will require approval of investment guidelines from the Prime Minister of Vietnam? (Internet image)

Regarding this issue, Article 31 of the Law on Investment 2020 stipulates the Prime Minister’s power to approve investment guidelines as follows:

First, investment projects regardless of capital sources in any one of the following cases:

- Investment projects that require relocation of 10,000 people or more in mountainous areas or 20,000 people or more in other areas;

- Investment projects on construction of: airports and aerodromes; runways of airports and aerodromes; international passenger terminals; cargo terminals of airports and aerodromes with a capacity of at least 1 million tonnes per year;

- New investment projects on passenger air transport business;

- Investment projects on construction of ports and wharves of special seaports; ports and wharves in which investment is at least VND 2,300 billion within the category of Class I seaports;

- Investment projects on petroleum processing;

- Investment projects which involve betting and casino services, excluding business in prize-winning electronic games for foreigners;

- Investment projects on construction of residential housing (for sale, lease or lease purchase) and urban areas that use at least 50 hectares of land or less than 50 hectares of land but with a population of at least 15,000 people in an urban area; or that use at least 100 hectares of land or less than 100 hectares of land but with a population of at least 10,000 people in a non-urban area; or investment projects regardless of the area of land used or population within the safety perimeter of relics recognized by the competent authority as the national and special national relics;

- Investment projects on construction and operation of infrastructure in industrial zones and export processing zones.

Second, foreign investors’ investment projects in the following fields: provision of telecommunications services with network infrastructure; afforestation; publication, press;

Third, investment projects which at the same time fall within the power of at least two provincial People's Committees to grant approval for investment guidelines;

Forth, other investment projects subject to approval for their investment guidelines or subject to investment decision by the Prime Minister as prescribed by law.

Thus, according to the provisions of the Law on Investment 2020, there will be 04 investment projects that require investors to apply for approval of investment guidelines from the Prime Minister of Vietnam. Regarding documents, order and procedures, more details can be found in Article 33 and Article 35 of the Law on Investment 2020.

More details can be found in the Law on Investment 2020, which comes into force from January 1, 2020, replaces the Law on Investment 2014.

Le Hai

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