PROCEDURES FOR ADJUSTMENT OF INVESTMENT REGISTRATION CERTIFICATE

1. Legal ground

• Investment Law 2020

2. Procedures for adjustment of investment registration certificate

1. Cases in which the investment registration certificate must be adjusted

According to the provisions of Clause 1, Article 41 of the Law on Investment 2020, investors shall carry out procedures for adjustment of the Investment Registration Certificate in case the adjustment of the investment project changes the contents of the Investment Registration Certificate. Concrete:

• Change the name of the investment project
• Change investor information, change investor
• Change of location of investment project, land area of use
• Change of investment project objectives and scale
• Change in capital of investment projects
• Change in operation term and implementation schedule of investment projects
• Change of forms of incentives, investment support and grounds and conditions for application (if any)
• Change of conditions for investors implementing investment projects (if any)

2. Dossier of change of investment license

• A written request for implementation of an investment project, including a commitment to bear all costs and risks if the project is not approved
• Documents on the legal status of investors
• Documents proving the financial capacity of the investor include at least one of the following documents: financial statements of the last 02 years of the investor; commitment to financial support of the parent company; commitment to financial support of the financial institution; guarantee on the financial capacity of the investor; other documents proving the financial capacity of the investor;
• An investment project proposal includes the following principal contents: investor or investor selection form, investment objectives, investment scale, investment capital and capital mobilization plan, location, duration, implementation progress, information on the current status of land use at the project site and land use demand proposal (if any),  labor demand, proposal for investment incentives, impacts, socio-economic efficiency of the project, preliminary environmental impact assessment (if any) in accordance with the law on environmental protection
• In case the investment project does not request the State to allocate land, lease land, permit change of land use purpose, a copy of the land use right or other document determining the right to use the location for the implementation of the investment project shall be submitted
• Contents of explanation on technologies used in investment projects, for projects subject to appraisal and collection of opinions on technologies in accordance with the law on technology transfer
• BCC contract for investment projects in the form of BCC contract
• Other documents related to the investment project, requirements on conditions and capacity of the investor as prescribed by law (if any)

3. Procedures for adjustment of the Investment Registration Certificate for projects subject to approval of investment policies

• The investment registration agency shall grant and amend the Investment Registration Certificate within 05 working days from the date of receipt of the Decision approving the investment policy, the Decision approving the adjustment of the investment policy

4. Procedures for adjustment of the Investment Registration Certificate for investment projects not subject to approval of investment policies

• The investor submits 01 dossier of application for an Investment Registration Certificate to the investment registration agency
• The investment registration agency shall issue the Investment Registration Certificate to the investor within 15 days from the date of receipt of a valid dossier when the project satisfies the following conditions

• Not in industries or trades prohibited from business investment
• Valid documents determining the right to use the site for the implementation of investment projects
• Investment projects in accordance with prescribed plannings
• Meet market access conditions for foreign investors.

----------

For more information, please contact:

Hoang Pham (James) / Managing Partner at: hoang.pham@vselawyers.com

© 2023 VSE LAWYERS LIMITED LIABILITY LAW COMPANY – All rights reserved.

Attention: This legal update is not an advice and should not be treated as such.