Vietnam: What is the National Investment Information System? What is included in the national investment information system?

Vietnam: What is the National Investment Information System? What is included in the national investment information system? (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. What is the National Investment Information System?

According to Clause 12, Article 3 of the Law on Investment 2020, the National Investment Information System means a system of professional information meant for monitoring, assessment, and analysis of nationwide investment in order to serve state management tasks and assist investors in carrying out investment activities.

2. What is included in the national investment information system?

Article 71 of the Law on Investment 2020 stipulates national information system on investment in Vietnam as follows:

- The National Investment Information System consists of:

+ National information system for domestic investment;

+ National information system for foreign investment in Vietnam;

+ National information system for outward investment from Vietnam;

+ National information system for investment promotion;

+ National information system for industrial parks and economic zones.

- The Ministry of Planning and Investment shall preside over and cooperate with relevant agencies in developing and operating the National Investment Information System; establish the national investment database; assess the operation of such system by central and local investment authorities.

- Investment authorities and investors shall sufficiently, promptly and accurately update information on the National Investment Information System.

- Information about investment projects in the National Investment Information System is considered original and lawful information.

3. Mechanisms for cooperation in management and operation of the National Investment Information System in Vietnam

Mechanisms for cooperation in management and operation of the National Investment Information System in Vietnam under Article 105 of Decree 31/2021/ND-CP is as follows:

- The Ministry of Planning and Investment shall preside over and cooperate with relevant regulatory bodies in developing and operating the National Investment Information System; provide instructions on its management, operation, and use.

- Ministries and provincial People’s Committees shall update and provide information about investment activities under their management on the National Investment Information System; organize the operation and use of the National Investment Information System in accordance with the Law on Investment, Decree 31/2021/ND-CP and relevant regulations.

- Investment registration authorities shall use the National Investment Information System to receive applications, issue, adjust, revoke investment registration certificates; monitor and assess the execution of investment projects; implement investment reporting regulations and instruct business organizations executing investment projects to use the National Investment Information System in accordance with Decree 31/2021/ND-CP.

- The agency in charge of management and operation of the National Investment Information System and National Enterprise Registration Information System shall exchange information about enterprise registration by foreign-invested business organizations, capital contribution, purchase of shares/stakes by foreign investors when they follow the procedures specified in Article 63 and Article 66 of Decree 31/2021/ND-CP, investment conditions applied to foreign investors, and list of conditional business lines and business investment conditions as prescribed.

- The agency in charge of management and operation of the National Investment Information System shall consolidate information about investment promotion nationwide; organize the use and provision of information and assist agencies, organizations and enterprises in conducting investment promotion and investment matching activities.

- The business organizations that execute investment projects shall be given accounts to log in to the National Investment Information System in order to submit periodic reports as prescribed.

- The Ministry of Planning and Investment shall provide specific instructions on management, operation and use of the National Investment Information System.

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