Time for organizing the selection of investors in Vietnam

1. Time for organizing the investor selection in Vietnam

The Time for organizing the selection of investors in Vietnam according to Article 49 of the Bidding Law 2023 is as follows:

- For domestic bidding, the minimum period for preparing bid dossiers is 45 days from the first issuance date of the bidding document to the closing time.

- For international bidding, the minimum period for preparing bid dossiers is 60 days from the first issuance date of the bidding document to the closing time.

- For tasks outside the provisions in Clauses 1 and 2 of Article 49 Bidding Law 2023, the authorized person or the bidding inviter is responsible for deciding the implementation time based on ensuring the progress of the investment project execution.

2. Contents of bidding document for investor selection in Vietnam

The contents of the bidding document for investor selection in Vietnam under Article 48 of the Bidding Law 2023 are as follows:

- The bidding document includes:

+ Investor guidelines;

+ Tender data sheet;

+ Contents for checking and evaluating the validity of the bid dossier;

+ Methods and criteria for evaluating the competence and experience of the investor; business investment plans; land use efficiency or the effectiveness of investment in developing sectors, fields, and localities;

+ Bidding invitation and bid submission forms;

+ Information and requirements for implementation of the business investment project;

+ Draft contract, contract templates;

+ Other related contents.

- The bidding document must not impose any conditions to restrict the participation of investors or create advantages for one or several investors leading to unfair competition.

3. Process and Procedure for investor selection in Vietnam

The process and procedure for investor selection under Article 46 of the Bidding Law 2023 are as follows:

- The investor selection process includes the following steps:

+ Announcement of the business investment project;

+ Preparation for investor selection bidding, including preparing, appraising, and approving the bidding document;

+ Organizing the selection of investors through bidding, including inviting bids; issuing, amending, and clarifying the bidding document; preparing, submitting, receiving, managing, amending, withdrawing, and replacing bid dossiers;

+ Evaluating the bid dossiers, which includes opening bids; checking and assessing the validity of the bid dossiers; detailed evaluation of the bid dossiers;

+ Submitting, appraising, approving, and announcing the results of investor selection; explaining the reasons for an investor not winning the bid upon the investor's request (if any);

+ Negotiating, finalizing, and signing the contract.

- If the law on land, sectoral management, or field management requires investor selection through bidding when there are two or more interested investors, in addition to the steps prescribed in Clause 1, Article 46 of the Bidding Law 2023, the competent authority shall prepare an invitation for interest dossier, announce the invitation for interest, organize evaluation of registration dossiers for project implementation, and approve the result of the invitation for interest before implementing the bidding preparation step for investor selection specified at point b, Clause 1, Article 46 of the Bidding Law 2023.

4. Costs in the Selection of Contractors and Investors in Vietnam

The costs in the selection of contractors and investors according to Article 15 of the Bidding Law 2023 are as follows:

- The costs in contractor selection are regulated as follows:

+ Request dossiers, bidding documents for domestic bidding, interest invitation dossiers, and prequalification invitation dossiers are issued free of charge on the National Bidding Network System;

+ bidding documents for international bidding are issued on the National Bidding Network System; contractors pay for electronic bidding document copies when submitting bid dossiers;

+ The investor, bidding inviter bears the cost of posting bidding information and costs related to organizing contractor selection;

+ Contractors bear the costs related to preparing interest submission dossiers, prequalification applications, bid dossiers, proposal dossiers, bid participation, and complaint resolution costs (if any).

- The costs in investor selection are regulated as follows:

+ The interest invitation dossiers and bidding documents for domestic bidding are issued free of charge on the National Bidding Network System;

+ bidding documents for international bidding are issued on the National Bidding Network System; investors pay for electronic bidding document copies when submitting bid dossiers;

+ The bidding inviter bears the cost of posting information about investor selection and related costs to organizing investor selection;

+ Investors bear the costs related to preparing project implementation registration dossiers, bid dossiers, bid participation, and complaint resolution costs (if any).

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