Procedure for application for investment project subject to investment policy of Prime Minister
01. Conditions for application
Except for the projects subject to the authority of the Prime Minister of the Government to make the decision on the investment policy in accordance with the law on public investment and the projects subject to investment policy of National Assembly, the Prime Minister of the Government shall make the decision on the investment policy in respect of the following projects:
1. Projects regardless of sources of capital in one of the following cases:
(a) Relocation and settlement of 10,000 people or more in mountainous areas and 20,000 people in other areas;
(b) Construction and commercial operation of airports; and air transportation;
(c) Construction and commercial operation of national seaports;
(d) Exploration, production and processing of petroleum;
(dd) Business of betting and casinos;
(e) Production of cigarettes;
(g) Development of infrastructure in industrial zones, export processing zones and functional
areas in economic zones;
(h) Construction and commercial operation of golf courses.
2. Projects which are not in the cases as mentioned above and have a scale of investment capital from 5,000 billion Dong or more.
3. Projects of foreign investors in the following sectors: business of sea transportation; business of telecommunications services with network infrastructure; afforestation; publication, press; and establishment of a scientific and technological organization or a scientific and technological enterprise with one hundred (100) per cent foreign owned capital.
4. Other projects subject to the authority of the Prime Minister of the Government to make the decision on the investment policy or to make an investment decision as stipulated by law.
02. Applicable laws
1. Investment Law 2014
2. Decree No. 118/2015/NĐ-CP
3. Decree No. 131/2015/NĐ-CP
4. Circular No. 16/2015/TT-BKHĐT
Step 1: Prepare 08 sets of the following documents, including 01 original one and 07 copy ones
- Written application for implementation of the investment project;
- Copy of the people’s identity card, ID card or passport in the case of investors being an individual; copy of the incorporation certificate or other equivalent document certifying the legal status in the case of investors being an organization;
- Proposal for the investment project comprising the following items: investors implementing the project, investment objectives, investment scale, investment capital and method of raising capital, location, duration, investment schedule, need for labour, proposal for investment incentives, assessment of impact and socio-economic efficiency of the project;
- Copy of any one of the following documents: financial statements for the last two years of the investor; undertaking of the parent company to provide financial support; undertaking of a financial institution(s) to provide financial support; guarantee for the financial capability of the investor; or a document proving the financial capability of the investor;
- Proposal for a need for land use; where the project does not require the State to allocate or lease out land or to permit conversion of the land use purpose, a copy of the site lease agreement or other document certifying that the investor has the right to use the site for implementation of the investment project shall be submitted;
- Explanatory statement on technology to be used in respect of the projects, including the following items: name of technology, origin of technology, diagram of technological process; main technical specifications, condition of machinery, equipment and main technological line to be used;
- BCC contract in the case of investment projects in the form of a BCC contract.
- Plan for site clearance, relocation and settlement (if any);
- Preliminary evaluation of environmental impact and solutions for environmental protection;
- Evaluation of impact and socio-economic efficiency of the investment project.
Step 2: Submit the file to
1. Department of Planning and Investment (“DPI”); or
2. Management Board of industrial park, processing zone, or high-tech park (if the investement project is expected to be located in such areas) (“Management Board”)
Step 3: The DPI/Management Board shall, within 03 working days, forward 08 files to Ministry of Planning and Investment (“MPI”), and relevant State agencies to ask for their opinions
Step 4: An agency which is asked for an opinion shall, within a time-limit of 15 days from the date of receipt of the file for its opinion, provide its opinion on the items under its State management to the DPI/Management Board and the MPI
Step 5: The DPI/Management Board shall, within a time-limit of 25 days from the date of receipt of the investment project file, submit [such file] to the provincial people’s committee for consideration and provide its opinion on appraisal of the investment project file to the MPI
Step 6: The MPI shall, within a time-limit of 15 days from the date of receipt of the document, organize appraisal of the investment project file and prepare an appraisal report comprising the items and submit such report to the Prime Minister of the Government for his decision on the investment policy.
Step 7: The Prime Minister of the Government shall consider and make a decision on the investment policy
Step 8: The DPI/Management Board shall, within 15 working days from the date of receipt of decision on the investment policy by the Prime Minister, grant an Investment Registration Certificate to the investor