Official Dispatch No. 5122/BKHDT-PC dated July 24, 2015, planning for the implementation of the Investment Law

To:

- The People’s Committees of centrally-governed cities and provinces – The Departments of Planning and Investment of centrally-governed cities and provinces – The Administrations of Industrial, Export Processing, High Technology and Economic Zones Please visit ThuVienPhapLuat.vn to download full text

Proceeding with the official dispatch No. 4326/BKHDT-DTNN and No. 4366/BKHDT-PC dated June 30, 2015, the Ministry of Planning and Investment requests you to go through the following procedures:

1. Handling of investment project dossiers received before the Investment Law enters into force:

At the section 8 of the official dispatch No. 4366/BKHDT-PC the Ministry of Planning and Investment has already provided instructions on dealing with investment project dossiers received by July 1, 2015. On the basis of reports and recommendations submitted by certain localities, the Ministry of Planning and Investment hereby makes the following suggestions:

a) With regard to investment project dossiers that meet statutory requirements for grant of the Investment Certificate under the provisions of the Decree No. 108/2006/ND-CP the Investment Registration Authority must rely on received investment project dossiers to issue the Investment Registration Certificate to investors under the provisions of the Investment Law adopted in 2014 on the basis of a written agreement with investors on issuance of the Investment Registration Certificate in accordance with the 2014 Investment Law.

b) In case investment project dossiers have not been valid yet and/or have not met requirements for issuance of the Investment Certificate under the provisions of the Decree No. 108/2006/ND-CP the Investment Registration Authority must instruct investors to provide additional documents as stipulated in the 2014 Investment Law, unless otherwise stipulated by the 2014 Investment Law.

2. With regard to procedures for issuance of the Investment Registration Certificate to projects which are not specified as one of the cases in the decision on investment proposals in accordance with the 2014 Investment Law.

a) Investors are required to submit 01 investment project dossier to the Investment Registration Authority as prescribed in Point a Clause 2 Article 37 enshrined in the 2014 Investment Law.

b) Within a permitted period of 15 days of receipt of all required documents, the Investment Registration Authority shall issue the Investment Registration Certificate to investors in accordance with regulations laid down in Point b Clause 2 Article 37 enshrined in the 2014 Investment Law if they meet the following requirements:

- Their investment project dossier is valid in accordance with Point a, Clause 2 Article 37 of the 2014 Investment Law;

- The investment project is not aimed at industries or sectors banned for investment and business in accordance with Article 6 of the 2014 investment Law;

- Conditions for foreign investors’ investment (if any) should be met under the instructions given in Point c hereunder.

c) Conditions for foreign investors’ investment (conditions for market access) refer to conditions which foreign investors are obliged to meet at the time of establishing economic organizations, executing business cooperation contracts or making investment in the form of capital contribution, paid-in capital or shares of economic organizations.

The Investment Registration Authority shall refer to investment requirements stipulated by laws and International Agreements of which Vietnam is a member (including the Schedule of Specific Commitments in Services between Vietnam and WTO, and bilateral and regional Investment Agreements) so as to consider issuing foreign investors and amending the Certificate of Investment Registration, or the registration of capital contribution, paid-in capital or share repurchase in accordance with the 2014 Investment Law.

In respect of industries or sectors for which Vietnam has not made commitments, or those which are not specified in the Schedule of Specific Commitments in Services between Vietnam and WTO, the Investment Registration Authority shall consult with relevant Ministries or industries before consideration and decision.