Investors will make their own decision on investment projects and be responsible for the accuracy, truth of investment registration contents, investment project documents and performing registered commitment.
Organizations, individuals being competent to establish projects, make investment decisions, investigate or certify investments will be responsible to the law for their proposals and decisions.
With respect to important projects determined in sector planning which being interested in by two or more investors, selection of investors to carry out the projects must follow bidding form in accordance with law on tender.
Investment registration of foreign investors firstly investing in Vietnam must be carried out in accordance with the stipulations of law on Enterprise and Law on Investment. Investment Certificate is also enterprise registration certificate.
1. Investment registration
Domestic investment projects with invested capital below VND15 billion which do not belong to list of conditional investment fields, the investor will not be required to carry out procedures of investment registration.
Domestic investment projects with invested capital from VND 15 billon to VND 300 billion which do not belong to list of conditional investment fields, the investor will perform procedures of investment registration as the form at the provincial State administrative body for investment.
Foreign investment projects with invested capital below VND 300 billion which do not belong to list of conditional investment fields, the investor will perform procedures for investment registration at the provincial State administrative body for investment to be granted Investment Certificate. Contents of investment registration consist of:
i) Legal status of the investor
ii) Objectives, scales, and location for the implementation of the investment projects
iii) Invested capital, and progress of project implementation;
iv) The need of land use and environmental protection commitment;
v) Proposal for investment incentives (if any).
The investor should register investment beforehand performing investment project.
2. Investigation of investment projects
With respect to domestic invested projects, foreign invested projects with invested capital of over VND300 billion which belong to list of conditional investment fields, these projects must be investigated for granting investment in certificate. The period for investment investigation doesn’t exceed 30 days from the date of receipt full of valid documents; if necessary, the above period can be extended but not exceeding 45 days.
With respect to national important projects, the National Assembly will decide on investment policy and stipulate standard for these projects, Government will regulate the order, procedures of investigation and granting investment certificate.
