Applications for and contents of appraisal of requests for investment guideline approval in Vietnam

Applications for and contents of appraisal of requests for investment guideline approval are specified in Article 33 of the Law on Investment 2020, including:

An application for approval for investment guidelines of an investment project proposed by an investor in Vietnam

- An application form for execution of the investment project, including a commitment to incur all costs and risks if the project is not approved;

- A document about the investor’s legal status;

- Document(s) proving the financial capacity of the investor including at least one of the following documents: the investor’s financial statements for the last two years; commitment of a parent company to provide financial support; commitment of a financial institution to provide financial support; guarantee for the investor’s financial capacity; other document proving the investor’s financial capacity;

- Proposal for the investment project including the following main contents: investor or method of investor selection, investment objectives, investment scale, investment capital and plan for raising capital, location, duration and schedule of the investment project, information about the current use of land in the location of the project and proposed demand for land use (if any), demand for labor, proposal for investment incentives, impact and socio – economic efficiency of the project and preliminary assessment of environmental impact (if any) in accordance with regulations of law on environmental protection.

If the law on construction requires formulation of a pre-feasibility study report, the investor is entitled to submit the pre-feasibility study report instead of a proposal for the investment project;

- If the project does not require the State to allocate or lease out land or to permit land repurposing, a copy of the document regarding the land use rights or other document identifying the right to use the location for execution of the investment project is required to be submitted;

- Contents of the explanation for the technology to be used in the investment project if the project requires appraisal and collection of opinions on the technology in accordance with the Law on Technology Transfer;

- The business cooperation contract if the investment project is executed under a business cooperation contract;

- Other documents relating to the investment project, and requirements on the eligibility and capacity of the investor in accordance with regulations of law (if any).

Applications for and contents of appraisal of requests for investment guideline approval in Vietnam (Internet image) 

An application for approval for investment guidelines of an investment project prepared by a competent authority

- An application for approval for investment guidelines;

- Proposal for the investment project including the following main contents: investment objectives, investment scale, investment capital and plan for raising capital, location, duration and schedule of the investment project; information about the current use of land in the location of the project, conditions for land expropriation if the project is subject to land expropriation, expected demand for land use (if any); preliminary assessment of environmental impact (if any) in accordance with the law on protection of the environment protection; expected method of investor selection and conditions applicable to the investor (if any); and special mechanisms and policies (if any).

If the law on construction requires formulation of a pre-feasibility study report, the competent authority is entitled to submit the pre-feasibility study report instead of a proposal for the investment project.

Contents of appraisal of the request for investment guideline approval in Vietnam

- Assessment of the conformity of the investment project with national planning, regional planning, provincial planning, urban planning and special economic - administrative unit planning (if any);

- Assessment of the demand for land use;

- Preliminary assessment of the socio-economic efficiency of the project; and preliminary assessment of environmental impact (if any) in accordance with regulations of law on environmental protection;

- Assessment of investment incentives and conditions for enjoying investment incentives (if any);

- Assessment of the technology to be used in the investment project if the project requires appraisal and collection of opinions on the technology in accordance with the Law on Technology Transfer;

- Assessment of conformity of the investment project with the objectives and orientation for urban development, and residential housing development programs and plans; preliminary plan for phasing of investment with a view to synchronism assurance; preliminary structure of residential housing products and provision of land for social residential housing development; preliminary plan for investment in construction and management of urban infrastructure inside and outside the project in the case of an project on investment in construction of residential houses and urban areas.

Contents of appraisal of the request for both investment guideline approval and investor approval

- The contents specified above;

- The ability to satisfy the conditions for land allocation or land lease in the case of land allocation or land lease without auction of the land use right or bidding for investor selection; the ability to satisfy the conditions for land repurposing if the project requires land repurposing;

- Assessment of satisfaction of market access conditions applied to foreign investors (if any);

- Other conditions applicable to the investor in accordance with relevant regulations of law.

Mai Thanh Loi

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