On November 29, 2024, the National Assembly of Vietnam passed the Law amending the Law on Planning, the Law on Investment, the Law on Investment under the Public-Private Partnership method, and the Law on Tendering 2024 (Law No. 57/2024/QH15).
Law No. 57/2024/QH15 has supplemented Article 36a regarding special investment procedures after Article 36 in Section 2, Chapter IV of the Investment Law 2020 as follows:
(1) Except for investment projects prescribed in Article 30 of the Investment Law 2020, investors are entitled to choose to register investments according to the provisions of Article 36a of the Investment Law 2020 for projects in industrial zones, export processing zones, high-tech parks, concentrated information technology zones, free trade zones, and functional areas within economic zones in the following fields:
- Investment in building innovation centers, research and development (R&D) centers; investment in the field of semiconductor integrated circuit industries, technology design, component manufacturing, integrated electronic circuits (IC), flexible electronics (PE), chips, and semiconductor materials;
- Investment in the high-technology sector, prioritized for development, manufacturing products listed as high-tech products encouraged for development according to the decision of the Prime Minister of the Government of Vietnam.
(2) The investment registration dossier includes documents specified at points a, b, c, d, dd, g, and h, clause 1, Article 33 of the Investment Law 2020, in which the proposal document for project implementation includes commitments to meet conditions, standards, and regulations as per legal requirements regarding construction, environmental protection, fire prevention, and firefighting; the investment project proposal includes identification, environmental impact forecasting and measures to mitigate adverse environmental impacts in place of preliminary environmental impact assessment.
(3) Content of dossier evaluation includes:
- The suitability of the project with the investment fields in (1);
- The conformity of the project with relevant planning;
- The legal status and experience of the investor;
- Land use requirements (if any);
- Project implementation schedule;
- The investor's committed content;
- Investment incentives and conditions to enjoy investment incentives (if any).
(4) The registration dossier is submitted to the management board of the industrial zone, export processing zone, high-tech park, or economic zone. Within 15 days from the receipt of the dossier, the management board of the industrial zone, export processing zone, high-tech park, or economic zone evaluates the dossier and issues an Investment Registration Certificate.
More details can be found in Law No. 57/2024/QH15 effective from January 15, 2025.
Address: | 19 Nguyen Gia Thieu, Vo Thi Sau Ward, District 3, Ho Chi Minh City |
Phone: | (028) 7302 2286 |
E-mail: | info@lawnet.vn |