Documents and procedures for decision on investment policies by the People’s Committees of provinces

Article 33. Documents and procedures for decision on investment policies by the People’s Committees of provinces

1. A project dossier consists of:

bookkeeping-vinasc3a) A written request for permission for execution of the investment project;

b) A copy of the ID card or passport (if the investor is an individual); a copy of the Certificate of establishment or an equivalent paper that certifies the legal status of the investor (if the investor is an organization).

c) An investment proposal that specifies: investor(s) in the project, investment objectives, investment scale, investment capital, method of capital rising, location and duration of investment, labor demand, requests for investment incentives, assessment of socio-economic effects of the project;

d) Copies of any of the following documents: financial statements of the last two years of the investor; commitment of the parent company to provide financial support; commitment of a financial institutions to provide financial support; guarantee for investor’s financial capacity; description of investor’s financial capacity;

dd) Demand for land use; if the project does not use land allocated, leased out by the State, or is not permitted by the State to change land purposes, then a copy of the lease agreement or other documents certifying that the investor has the right to use the premises to execute the project shall be submitted;

e) Explanation for application of technologies to the project mentioned in Point b Clause 1 Article 32 of this Law, which specifies: names of technologies, origins, technology process diagram, primary specifications, conditions of machinery, equipment and primary technological line;

g) The business cooperation contract (if the project is executed under a business cooperation contract).

2. 7. The investor shall submit the dossier specified in Clause 1 of this Article to the registry office.

Within 35 days from the day on which the project dossier is received, the registry office shall notify the investor of the result.

3. Within 03 working days from the day on which the satisfactory dossier is received, the registry office shall send written requests for opinions from the regulatory agencies as prescribed in Clause 6 of this Article.

4. Within 15 days from the receipt of the project dossier, the inquired agencies shall send written responses to the registry office.

5. The land authority shall provide copies of maps, the planning authority shall provide information about planning as the basis for making appraisal as prescribed in this Article within 05 working days from the receipt of the registry office’s request.

6. Within 25 days from the day on which the investment project dossier is received, the registry office shall make and submit an appraisal report to the People’s Committee of the province. The report shall contain:

a) Information about the project: information about the investor, objectives, scale, location, and duration of the project;

b) Assessment of the foreign investor’s fulfillment of investment conditions (if any);

c) Assessment of conformity of the investment project with the master socio-economic development planning, industrial planning, and land planning; assessment of socio-economic effects of the project;

d) Assessment of investment incentives and fulfillment of conditions for investment incentives (if any);

dd) Assessment of legal basis of investor’s rights to use investment premises If a request for allocation of land, lease of land, or change of land purposes is made, the investor’s fulfillment of conditions for using land, land allocation, land lease, and change of land purposes shall be assessed in accordance with regulations of law on land;

bookkeeping-vinasc1e) Assessment of technologies applied to the investment project (if the project is one of those mentioned in Point b Clause 1 Article 32 of this Law).

7. Within 07 working days from the receipt of the project dossier and appraisal report, the People’s Committee of the province shall issue the decision on investment policies. In case of rejection, a written response providing explanation shall be made.

8. The decision on investment policies made by the People’s Committee of the province shall specify:

a) Name of the investor in the project;

b) Name, objectives, scale, investment capital, and duration of the project;

c) Location of the project;

d) Schedule for project execution: schedule for capital contribution and capital raising; schedule for infrastructural development and inauguration (if any); schedule of each stage (if the project is divided into multiple stages);

dd) Applied technologies;

e) Investment incentives, support, and conditions (if any);

g) Effective period of the decision on investment policies.

9. The government shall specify the documents and procedures for appraising investment projects of which investment policies are decided by the People’s Committees of provinces.

Article 34. Documents and procedures for decision of investment policies by the Prime Minister

1. The investor shall submit the project dossier to the local registry office. The dossier consists of:

a) The documents mentioned in Clause 1 Article 33 of this Law;

b) Land clearance and relocation plan (if any);

c) Preliminary assessment of environmental impacts and environmental protection measures;

d) Assessment of socio-economic effects of the project.

2. Within 03 working days from the day on which the satisfactory dossier is received, the registry office shall send it to the Ministry of Planning and Investment and send written requests for opinions from the regulatory agencies as prescribed in Clause 6 of this Article.

3. Within 15 days from the receipt of the request, the inquired agencies shall send written responses to the registry office and the Ministry of Planning and Investment.

4. Within 25 days from the day on which the project dossier is received, the registry office request the People’s Committee of the province to appraise the project dossier and send it to the Ministry of Planning and Investment.

5. Within 15 days from the receipt of the documents mentioned in Clause 4 of this Article, the Ministry of Planning and Investment shall appraise the project dossier and make an appraisal reports as prescribed in Clause 6 Article 33 of this Article, the request the Prime Minister to issue decisions on investment policies.

6. The Prime Minister shall consider deciding investment policies as prescribed in Clause 8 Article 33 of this Law.

7. The government shall specify the documents and procedures for appraising investment projects of which investment policies are decided by the Prime Minister.