Available in Vietnam: Decree 31/2021/ND-CP elaborating certain articles of Law on Investment 2020

Nguyen Trinh

13:51, 02/04/2021

Recently, the Government of Vietnam has issued Decree 31/2021/ND-CP > detailing and guiding the implementation of a number of articles of the Investment Law, in which specific instructions are provided for handling of fake investment processing applications.

According to Decree 31, if a competent authority or competent person determines that there is forged content of the investment documents, the investment registration authority in Vietnam shall:

- notify the investor of the violation;

- invalidate or request the competent authority or competent person to consider invalidating the decision on approval for investment guidelines, decision on investor approval, investment registration certificate, outward investment registration certificate and other relevant documents (hereinafter referred to as “documents”) issued for the first time or invalidate the documents which are based on the forged information;

- restore the original documents issued based on the latest valid application, handle the violation or report to a competent authority or authorized person to do so as prescribed by law.

Note: The investor is legally liable for any damage caused by forging contents of documents in Vietnam.

More details can be found in: Vietnam's Decree 31/2021/ND-CP takes effect from March 26, 2021.

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