Rules for making outward investments
Article 51. Rules for making outward investments
1. Investors are encouraged by the State to make outward investment in order to expand the market, improve the export of goods/services, and receipt of foreign currencies; improve access to modern technologies, raise the managerial capability and develop resources for socio-economic development.
2. Investors making overseas investments shall comply with this Law, other regulations of law, laws of the countries or territories in which investments are made (hereinafter referred to as host countries), and the international agreements to which the Socialist Republic of Vietnam is a signatory, and take responsibility for overseas investments they make.
Article 52. Forms of outward investment
1. Outward investments in the following forms:
a) Establishing a business organization in accordance with the law of the host country;
b) Execute a business cooperation contract overseas;
c) Purchase part or all of charter capital of an overseas business organization to participate in the management and business investment overseas;
d) Trading in securities, valuable papers, or making investments via securities investment funds and other intermediate financial institutions overseas;
dd) Other forms of investments prescribed by law of the host country.
2. The Government shall elaborate the forms of investments mentioned in Point d Clause 1 of this Article.
Article 53. Sources of capital for outward investment
1. The investor shall invest and raise capital to make investments overseas. Conditions and procedures for taking foreign currency loans and transferring foreign currency capital must comply with regulations of law on banking, credit institutions, and foreign currency management.
2. According to targets of monetary policies, foreign currency management polices in each period, the State bank of Vietnam shall promulgate regulations on credit institutions and branches of foreign banks in Vietnam that grant foreign currency loans as prescribed in Clause 1 of this Article to make outward investment.
Section 2: PROCEDURES FOR DECISION OF OUTWARD INVESTMENT POLICIES
Article 54. Competence to issue decisions on outward investment policies
1. The National Assembly shall issue decisions on outward investment policies of:
a) Projects with outward investment capital of VND 20,000 billion or above;
b) Projects that require special policies decided by the National Assembly.
2. Except for the cases in Clause 1 of this Article, the Prime Minister shall issue decisions on outward investment policies of:
a) Banking, insurance, securities, journalism, broadcasting, and telecommunications projects with outward investment capital of VND 400 billion or above;
b) Projects not mentioned in Clause a of this Article with outward investment capital of VND 800 billion or above.
Tin liên quan
The power to appoint border checkpoints for export and import
The export tariff-rate quota and import tariff-rate quota
The export restriction and import restriction
The list of prohibited exports and imports is made by the Government.
Prohibited actions in the foreign trade management
The Ministry of Finance shall take charge and cooperate with relevant authorities
Responsibility for the state administration related to the foreign trade.
Principles of state administration related to the foreign trade
Reporting Interests in Joint Ventures in the Financial Statements of an Investor
Separate Financial Statements of a Venturer