Procedures for adjustment of an investment project under a judgment or decision of a court in Vietnam

Pursuant to Clause 1, Article 54 of Decree 31/2021/ND-CP, where an investment project has to be adjusted under the effective judgment or decision of a court or arbitration body, the investor shall, according to such decision or judgment, adjust and continue to execute the project.

Application for adjustment of an investment project under a judgment or decision of a court in Vietnam

Pursuant to Clause 2, Article 54 of Decree 31/2021/ND-CP, the investor having the investment project that has to be adjusted as prescribed above shall prepare an application for project adjustment, including:

- An application form for adjustment;

- A copy of document about the investor's legal status;

- The effective judgment or decision of the court or arbitration body;

- A copy of the investment registration certificate; the decision on approval for investment guidelines; the decision on investor approval (if any).

Procedures for adjustment of an investment project under a judgment or decision of a court in Vietnam (Internet image)

Procedures for adjustment of an investment project under a judgment or decision of a court or arbitration body in Vietnam

Pursuant to Clause 3, Clause 4 and Clause 5, Article 54 of Decree 31/2021/ND-CP, the procedures for adjustment of an investment project under a judgment or decision of a court or arbitration body in Vietnam are as follows:

(i) For an investment project whose investment guidelines have been approved, the investor shall follow the procedures for project adjustment below:

- The investor having the investment project that has to be adjusted under the effective judgment or decision of a court or arbitration body shall submit 01 set of the application to the Ministry of Planning and Investment or investment registration authority corresponding to the power to approve investment guidelines;

- Within 07 working days from the receipt of the application, the Ministry of Planning and Investment or investment registration authority shall, according to the effective judgment or decision, request the investment guideline approving authority to adjust the decision on approval for investment guidelines.

Within 05 working days from the receipt of the request, the investment guideline approving authority shall adjust the decision on approval for investment guidelines.

Pursuant to the decision on approval for adjustment of the investment guidelines, the investor approving authority shall adjust the decision on investor approval (if any) or the investment registration authority shall adjust the investment registration certificate (if any).

The decision on approval for adjustment of the investment guidelines, decision on approval for change of investor or investment registration certificate that has been adjusted shall be sent to the court or arbitration body issuing the judgment or decision, enforcement agency and investor.

(ii) For an investment project that has been issued with the investment registration certificate and not subject to approval for its investment guidelines or has had its investment guidelines approved in a case other than the case specified in Clause 3 Article 41 of the Law on Investment 2020, the procedures for adjusting the project are as follows:

- The investor having the investment project that has to be adjusted under the effective judgment or decision of a court or arbitration body shall submit 01 set of the application to the investment registration authority;

- Within 05 working days from the receipt of the application, the investment registration authority shall, according to the effective judgment or decision, adjust the investment registration certificate. The adjusted investment registration certificate shall be sent to the court or arbitration body issuing the judgment or decision, enforcement agency and investor.

(iii) Where the investor fails to follow the procedures for project adjustment according to the effective judgment or decision of the court or arbitration body, the civil enforcement agency, organization and individual that have the rights and obligations related to the project are entitled to request a competent authority to approve investment guidelines or the investment registration authority to follow the procedures for project adjustment in accordance with the corresponding regulations in (i) and (ii).

Mai Thanh Loi

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