Many investors want to implement investment projects in Vietnam. So, LSX Lawfirm will give you an article about: “Rules for execution of investment projects in Vietnam”.Let’s find out the answer with us:
Law on investment 2020
Some concepts related to investment project
- Investment project means a collection of proposals for the expenditure of mid-term or long-term capital to carry out investment activities in a particular administrative division over a certain period of time.
- Expansion project means an investment project on development of a running project by expanding the scale; improving the capacity, applying new technologies, reducing pollution or improving the environment.
- New investment project means a project executed for the first time or a project independent from any other running project.
- Start-up project means an investment project that implements ideas on the basis of exploiting intellectual property; technologies and new business models and is able to grow quickly.
Related article: Duration of the investment project
You can also refer to the article at LSX.VN
Rules for execution of investment projects
Firstly, for a project subject to approval for its investment guidelines; the approval for investment guidelines shall be granted before the investor executes the investment project.
Secondly, for a project subject to issuance of an investment registration certificate; the investor shall follow the procedures for issuance of the investment registration certificate before executing the investment project.
Thirdly, investors shall comply with regulations of this Law and the laws on planning, land, environment, construction; labor and fire prevention and fighting; other relevant regulations of law, written approval for investment guidelines; (if any) and the investment registration certificate (if any) during execution of their investment projects.
Who do regard to the investment projects located therein?
Management boards of industrial parks, export-processing zones, hi-tech zones and economic zone shall issue; adjust and revoke investment registration certificates with regard to the investment projects located thereinIn case the application for adjustment of an investment project results in the investment project being subject to approval of the investment policy, what should the investor do?
If a request for adjustment of an investment project results in the project being subject to approval for its investment guidelines, the investor has to apply for approval for investment guidelines before adjusting the investment project.What is the authority of state agencies with investment projects?
The regulatory agency that has the power to approve investment guidelines also has the power to approve the adjustment to investment guidelines. If a request for adjustment of an investment project results in the project being subject to approval for its investment guidelines by an authority at a higher level; such authority will have the power to adjust the adjustment to investment
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