SUPERVISION REPORT SERVICES OF FOREIGN-INVESTED ENTERPRISES
VinaSC is a unit specializing in providing monitoring reports of foreign-invested enterprises
1. SERVICE PROVISION PROCESS AT VINASC:
Step 1. Vinasc receives information on the implementation of monitoring reports of customers with the following basic contents:
– Years of operation of the enterprise: Through the Investment Registration Certificate, Business Registration Certificate;
– The number of years in which the enterprise’s monitoring report has not been implemented;
– Customer demand for monitoring reporting services: The number of years the customer requested to present the report;
Step 2. Depending on each specific case, Vinasc will consider giving advice and guidance related to the procedures for implementing monitoring reports. The two sides discussed to agree on the content of the service. Vinasc then relies on the provided documents to draft the necessary documents to hand over to the authentic enterprise;
Step 3. Vinasc guides customers to prepare their own dossiers related to the Procedures for implementing monitoring reports as follows:
– In case customers use accounting services at Vinasc: the accounting department supports checking data, providing accurate data to perform services;
– In case customers do not use accounting services at Vinasc: Customers provide data according to the following contents:
o The amount of capital contributed in the period for the implementation of the project; The accumulated capital contribution up to the time of project implementation;
o Employment situation (Quantity): foreign workers, Vietnamese workers
o Situation of obligations to the Budget:
Number made during the reporting period;
Cumulative number up to the time of reporting;
Still payable
o Profit situation: Number realized in the reporting period; accumulated number up to the time of reporting;
o Preliminary financial situation of the enterprise (short-term liabilities, long-term liabilities, total assets)
o The satisfaction of business investment conditions for projects in conditional business investment lines and lines: satisfaction of sublicenses, satisfaction of investment capital, satisfaction of certificates of the head,…
Depending on each specific situation, we will send a detailed summary file of data to be prepared for Customer reference.
Step 4. Vinasc prepares the following documents and transfers them to customers for signing:
Dossier of investment implementation monitoring and evaluation report
Dossier of monitoring and evaluation reports in the exploitation and operation phase
Detailed list of documents, we will send you specifically when the 2 parties sign the service.
Step 5. Receive the application back from the customer and check the authenticity of the application;
Step 6. Apply at the Competent Authority:
– Department of Planning and Investment of provinces: For projects outside industrial parks, export processing zones, high-tech parks and economic zones
– Management boards of industrial parks, export processing zones, hi-tech parks and economic zones: For projects in industry, export processing zones, high-tech parks and economic zones.
Step 7. Receive results from competent authorities and Transfer to Clients specific results.
2. SPECIFIC RESULTS:
– Documents proving that Vinasc has completed the service;
3. ESTIMATED IMPLEMENTATION TIME:
– Implementation of investment reports, investment supervision reports: 03 working days
The above estimated time is calculated from the date Vinasc receives all required documents sent to you.
REGULATIONS ON THE TIME FOR IMPLEMENTATION OF INVESTMENT REPORTS AND SUPERVISION REPORTS OF FOREIGN-INVESTED ECONOMIC ORGANIZATIONS:
1. What types of Monitoring Reports need to be made?
According to the provisions of Clause 8, Article 100 of the Government’s Decree No. 29/2021/ND-CP dated March 26, 3, 2021 stipulating the order and procedures for appraisal of projects of national importance and investment supervision and evaluation: “Investors of projects using other capital sources shall prepare and send the investment registration agency and the focal agency to supervise, Investment assessment of the locality where the investment project is implemented the following types of reports:
a) Periodic monitoring and assessment reports: 6 months and a whole year;
b) Monitoring and evaluation report before adjusting the project;
c) Final assessment report (if any)”
What are the regulations on the time limit for submitting investment monitoring and assessment reports?
According to the provisions of Clause 11 Article 100 of Decree No. 29/2021/ND-CP dated March 26, 3, 2021 stipulating the time limit for investment supervision and assessment reports:
“a) Program owners, investors and investors:
– Submit a report 6 months by July 10 of the reporting year;
– Submit annual reports by February 10 of the following year;
– Submit a report before submitting a project program adjustment.”
Investors and economic organizations shall implement the regime of investment supervision and assessment reports and send them to the Department of Planning and Investment in accordance with current regulations.
2. What will investors report related to the monitoring report?
Pursuant to Article 70 of Decree No. 29/2021/ND-CP dated March 26, 3, 2021 stipulates, investors and economic organizations self-organize to monitor and inspect the project and report the following contents:
1. Project implementation progress and project objective implementation schedule.
2. Progress of investment capital contribution, charter capital, legal capital contribution (for business investment lines requiring legal capital).
3. Situation of project exploitation and operation: Results of business investment activities, information on labor, payment to the state budget, investment in research and development, financial situation of enterprises and specialized indicators according to fields of operation.
4. The observance of requirements on environmental protection, land use and use of mineral resources according to regulations.
5. The implementation of the provisions in the written decision or approval of the investment policy and the Investment Registration Certificate (if any).
6. The satisfaction of business investment conditions for projects in conditional business investment lines and lines.
7. Situation of implementation of investment incentives (if any).
3. What is the penalty for violating the reporting regime?
Pursuant to Decree No. 122/2021/ND-CP dated 28/12/2021 of the Ministry of Planning and Investment on sanctioning administrative violations in the field of Planning and Investment, regulations on violations of the regime of information and reporting on investment activities in Vietnam will be handled according to Article 15 of Decree No. 122/2021/ND-CP as follows:
“1. A fine ranging from VND 20,000,000 to VND 30,000,000 shall be imposed for one of the following acts:
a) Prepare investment supervision and assessment reports on time or with incomplete contents as prescribed;
b) Failing to implement the regime of periodic investment supervision and assessment reports as prescribed.
2. A fine of from VND 30,000,000 to VND 50,000,000 shall be imposed for one of the following acts:
a) Failing to implement the regime of reporting investment activities or reporting on time as prescribed;
b) Untruthful and inaccurate reports on investment activities;
…
3. Remedies:
a) Forcibly supplement missing contents in case the investment supervision and assessment report is incomplete for violations specified at Point a, Clause 1 of this Article;
b) Force the implementation of the regime of periodic investment supervision and assessment reports as prescribed for violations specified at Point b, Clause 1 of this Article;
c) Force the implementation of the reporting regime on investment activities in case of failure to implement the reporting regime for violations specified at Point a, Clause 2 of this Article…”
In the Investment Registration Certificates of projects, the Investment Registration Agency has stipulated binding conditions for projects that investors and economic organizations must comply with the reporting regime as prescribed. In the process of examining, supervising or appraising registration dossiers for adjustment of investment projects; if investors or economic organizations fail to implement the reporting regime, they shall transfer the Inspectorate of the Department of Administrative Sanctions according to regulations.
Summary table of documents to prepare:
|
STT |
Contents |
Executor |
||
|
Customers (1) |
Vinasc Group (2) |
Vinasc Group replaced (3) |
||
|
1 |
Report performance data (According to the attached Excel file) |
X |
X |
|
|
2 |
6-month periodic monitoring and evaluation report |
|
X |
|
|
3 |
Periodic monitoring and evaluation reports for the whole year;
|
|
X |
|
|
4 |
Monitoring and evaluation reports in the period of exploitation and operation periodically for 6 months |
|
X |
|
|
5 |
Monitoring and evaluation reports in the period of exploitation and operation periodically for 6 months
|
|
X |
|
(*) According to the procedure, customers are obliged to execute the documents in column (1) and Vinasc will be obliged to execute the documents in column (2).
(*) In some special situations, State agencies may request additional information to supplement dossiers. In the above case, we will immediately notify customers to update the profile as soon as possible.
For any information about the implementation of the monitoring report, please contact Vinasc Group Joint Stock Company for detailed advice.