Supervision and assessment of investment

Article 69. Supervision and assessment of investment

bookkeeping-vinasc31. Supervision and assessment of investment include:

a) Supervision and assessment of investment project;

b) Supervision and assessment of investment on an overall scale.

2. Responsibility for supervision and assessment of investment:

a) The National Assembly and the People’s Councils shall exercise their rights to supervise investment as prescribed by law;

b) Investment authorities and specialized authorities shall carry out supervision and assessment of investment on an overall scale and each project under their management;

c) Register offices shall supervise and assess the investment projects to which they grant Certificates of investment registration;

d) Vietnamese Fatherland Front shall supervise community investments within their competence.

3. Supervision and assessment of investment projects:

a) With regard to projects funded by state capital, investment authorities and specialized authorities shall carry out supervision and assessment according to the contents of the decisions on investment;

b) With regard to projects funded by other sources, investment authorities and specialized authorities shall supervise and assess the conformity of the planning and investment policies approved by competent authorities, the investment schedule, fulfillment of environmental protection requirements, use of land and other resources as prescribed by law;

c) Registry offices shall assess the adherence to Certificates of investment registration and decisions on investment policies.

4. Contents of overall supervision and assessment of investment:

a) Promulgation of legislative documents on guidelines for regulations of law on investment;

b) Progress of project execution;

c) Assessment of investment result nationwide, of Ministries, ministerial agencies, local authorities, and investment projects under their management;

d) Propose solutions for difficulties and actions against violations to regulatory agencies at the same level and investment authorities.

5. The organizations and agencies shall carry out assessment themselves or hire capable experts or advisory organizations to do so.

6. The Government shall elaborate this Article.

Article 70. National Investment Information System

1. National Investment Information System consists of:

a) National Information System for Domestic Investment;

b) National Information System for Inward and Outward Investments.

2. The Ministry of Planning and Investment shall take charge and cooperate with relevant agencies in developing and operating National Investment Information System, assess the operation of such system by central and local investment authorities.

3. Investment authorities and investors shall promptly and accurately update information on National Investment Information System.

bookkeeping-vinasc14. Information about investment projects in National Investment Information System is considered original and lawful information.

Article 71. Reports on investment in Vietnam

1. Reporting entities:

a) Ministries, ministerial agencies, the People’s Committees of provinces;

b) Registry offices;

c) Investors and business organizations executing projects as prescribed in this Law.

2. Periodic reports:

a) Investors and business organizations executing investment projects shall submit monthly, quarterly, and annual reports to registry offices and local statistical agencies on the project execution, which specify: capital, investment results, employees, payment to government budget, investment in R&D, environmental protection, and other professional indicators;

b) Register offices shall submit monthly, quarterly, and annual reports to the Ministry of Planning and Investment and the People’s Committees of provinces on receipt of applications, issuance, adjustment, and revocation of Certificates of investment registration, and the operation of projects under their management;

c) The People’s Committees of provinces shall submit quarterly and annual reports on local investments to the Ministry of Planning and Investment;

d) Ministries and ministerial agencies shall submit quarterly and annual reports on issuance, adjustment, and revocation of Certificates of investment registration and equivalent papers under their management, and the operation of projects under their management to the Ministry of Planning and Investment. Then, the Ministry of Planning and Investment shall submit a summary report to the Prime Minister;

dd) The Ministry of Planning and Investment shall submit quarterly and annual reports to the Prime Minister on investments nationwide and adherence to regulations on investment reporting of the entities mentioned in Clause 1 of this Article.

3. Agencies, investors, and business organizations shall make reports in writing via National Investment Information System.

4. Agencies, investors, and business organizations mentioned in Clause 1 of this Article shall make unscheduled reports at the request of competent authorities.

5. If a project is exempt from Certificate of investment registration, the investor shall submit a report to the registry office before commencement of the project execution.