Procedures for adjusting an investment projects subject to approval for their investment guidelines by the Prime Minister of Vietnam

Procedures for adjusting an investment projects subject to approval for their investment guidelines by the Prime Minister of Vietnam (Image from internet)

1. Application for adjusting an Investment projects subject to approval for their investment guidelines by the Prime Minister of Vietnam

* Components of the Application:

- A document requesting to adjust the investment project;

- A report on the implementation status of the investment project up to the adjustment point;

- The investor's decision on adjusting the investment project for an investor who is an organization;

- An explanation or provision of related documents to adjust the contents specified in points b, c, d, dd, e, g, and h, clause 1, Article 33, Investment Law (if any).

* Number of Applications: 08 sets.

* Method of Application submission:

- Directly at the headquarters of the Ministry of Planning and Investment.

- Via public postal service.

2. Procedures for adjusting an investment projects subject to approval for their investment guidelines by the Prime Minister of Vietnam

- Step 1: The investor submits 08 Applications as specified in clause 1, Article 44 of Decree 31/2021/ND-CP to the Ministry of Planning and Investment.

- Step 2: The Ministry of Planning and Investment sends the Applications to the competent state agencies as stipulated in clause 3, Article 32 of Decree 31/2021/ND-CP to solicit opinions on the contents of the investment project adjustment.

- Step 3: The solicited agencies provide opinions on the adjustment contents within their state management scope.

- Step 4: The Ministry of Planning and Investment prepares an appraisal report on the adjustment contents of the investment project to submit to the Prime Minister of the Government of Vietnam.

- Step 5: The Prime Minister of the Government of Vietnam decides to approve the adjustment of the investment policy.

* Time limit for processing:

- Within 03 working days from the date of receiving a valid Application, the Ministry of Planning and Investment sends the Application to the competent state agencies as stipulated in clause 3, Article 32 of Decree 31/2021/ND-CP to solicit opinions on the investment project adjustment contents;

- Within 15 days from the date of receiving a valid Application, the solicited agencies provide opinions on the adjustment contents within their management scope;

- Within 35 days from the date of receiving a valid Application, the Ministry of Planning and Investment prepares an appraisal report on the investment project adjustment contents to submit to the Prime Minister of the Government of Vietnam;

- Within 05 working days from the date of receiving the appraisal report from the Ministry of Planning and Investment, the Prime Minister of the Government of Vietnam decides to approve the adjustment of the investment policy.

3. Investment projects subject to approval for their investment guidelines by the Prime Minister of Vietnam

Investment projects subject to approval for their investment guidelines by the Prime Minister of Vietnam, and which the investor adjusts, fall into one of the following cases:

- Change of objectives already stipulated in the document approving the investment policy; add objectives under the approval of the investment policy;

- Change of land use scale of more than 10% or over 30 hectares, change of investment location;

- Change of total investment capital by 20% or more, altering the investment project scale;

- Extension of the investment project implementation timeline where the total project investment time exceeds 12 months compared with the project implementation schedule specified in the initial investment policy approval document;

- Adjustment of the operation term of the investment project;

- Change of technology that was appraised and submitted opinions during the investment policy approval process;

- Change of the investor in the investment project that was approved for investment policy simultaneously with approving the investor before the project's operation, or change of conditions for the investor (if any).

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE