Guidance on receipt of applications and handling of procedures related to investment activities by investors in Vietnam

Guidance on receipt of applications and handling of procedures related to investment activities by investors in Vietnam

Pursuant to Clause 1, Article 6 of Decree 31/2021/ND-CP, the receipt of applications and handling of procedures related to investment activities by investors shall be carried out as follows:

- Every investor shall take legal responsibility for the legitimacy, accuracy and truthfulness of their application and documents submitted to competent authorities;

- The receiving authority shall assess the validity of the application and must not require the investor to submit any documents together with the application other than those specified in the Law on Investment

- When an application needs to be supplemented, the receiving authority shall send a written notification of necessary supplementations to the investor. The notification must specify the bases, supplementations and deadline for supplementation. The investor has the responsibility to supplement the application by the deadline specified in the notification. If the investor fail to supplement the application by the deadline, the Ministry of Planning and Investment and investment registration authority shall consider suspend the application processing and notify the investor in writing;

- When requiring the investor to provide explanation for contents of the application, the Ministry of Planning and Investment and investment registration authority shall send the investor a notification specifying the deadline for explanation. If the investor fails to provide explanation upon request, the Ministry of Planning and Investment and investment registration authority shall send a notification of suspension of application processing to the investor;

- The time spent on supplementation or explanation specified in Points c and d of Clause 1, Article 6 of Decree 31/2021/ND-CP and duration of imposition of penalties for administrative violations against regulations on investment (if any) shall not be included in the procedure-handling time in accordance with the Law on Investment and Decree 31/2021/ND-CP.

- In case of refusal to issue or adjust the decision on approval for investment guidelines, decision on investor approval, investment registration certificate, outward investment registration certificate and other administrative documents on investment prescribed in the Law on Investment and Decree 31/2021/ND-CP, the Ministry of Planning and Investment and investment registration authority shall send the investor a notification specifying the reason therefor.

Guidance on receipt of applications and handling of procedures related to investment activities by investors in Vietnam (Internet image)

Guidance on collection of regulatory authorities’ opinions during the application processing in Vietnam

Pursuant to Clause 2, Article 6 of Decree 31/2021/ND-CP, the collection of regulatory authorities’ opinions during the application processing shall be carried out as follows:

- The enquiring authority shall determine whether contents about which opinions are collected are suitable for functions and duties of the enquired authorities and determine the deadline for giving response in accordance with regulations of the Law on Investment

- The enquired authorities shall give response by the deadline specified in Point a of this Clause and take responsibility for their opinions within their functions and duties; if an authority fails to give any opinion by the aforementioned deadline, it is considered that it concurs with the contents under its management.

Mai Thanh Loi

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