Investment Law No. 61/2020/QH14 was approved by the XIV National Assembly at its 9th Session on June 17, 2020, effective from January 1 [...]
Investment Law No. 61/2020/QH14 was approved by the XIV National Assembly at its 9th Session on June 17, 2020, effective from January 1, 2021 (hereinafter referred to as the Investment Law 2020). Currently, the draft Decree detailing and guiding the implementation of a number of articles of the 2020 Investment Law is being completed according to the opinions of Government Members to submit to the Prime Minister for signature and promulgation. At the same time, the Ministry of Planning and Investment has drafted a Circular guiding forms for implementing investment procedures and reporting investment activities in Vietnam to apply immediately after the Decree is issued by the Government.
To ensure the implementation of the Investment Law 2020 from January 1, 2021, the Ministry of Planning and Investment recommends that agencies organize the implementation of the following:
From January 1, 2021, dossiers for implementing investment policy approval procedures, granting and adjusting the Investment Registration Certificate, Overseas Investment Registration Certificate and other procedures to carry out investment activities are applied in accordance with the provisions of the Investment Law 2020; Specifically as follows:
1.1. Agency receiving dossiers requesting approval of investment policies:
1.2. Dossier and content of appraisal requesting approval of investment policy are specified in Article 33 of the Investment Law 2020.
1.3. The order and procedures for approving investment policies for investment projects falling under the investment policy approval authority of the National Assembly, the Prime Minister and the Provincial People's Committee are specified in Articles 34, 35 and 36 of the Investment Law 2020.
2.1. The authority to issue Investment Registration Certificates is specified in Article 39 of the Investment Law 2020.
2.2. Dossier requesting issuance of Investment Registration Certificate for projects not subject to investment policy approval includes documents specified in Clause 1, Article 33 of the Investment Law.
2.3. Procedures for granting Investment Registration Certificates are implemented according to the provisions of Article 38 of the Investment Law 2020.
2.4. The investment registration agency and investors continue to carry out investment procedures on the National Investment Information System (formerly the National Information System on Foreign Investment) that has been established and operated recently.
3.1. Investors who contribute capital, buy shares, or purchase capital contributions from economic organizations must meet the conditions and carry out procedures as prescribed in Article 26 of the Investment Law 2020.
3.2. Procedures for registering capital contribution, purchasing shares, and capital contributions are carried out as follows:
3.2.1. Economic organizations with foreign investors contributing capital, purchasing shares, or contributing capital in the cases specified in Clause 2, Article 26 of the Law on Investment shall submit 01 set of registration documents for capital contribution, purchase of shares, or contributed capital to the investment registration agency where the economic organization is headquartered.
In case the conditions specified in Clause 2, Article 24 of the Investment Law are met, based on the written approval of the Investment Registration Authority, the economic organization with foreign investors contributing capital, purchasing shares, purchasing capital contributions shall carry out procedures for changing members and shareholders at the business registration agency in accordance with the provisions of law on enterprises and other laws corresponding to each type of economic organization.
3.2.2. Dossier for registration of capital contribution, share purchase, capital contribution includes:
5.1. Industry, occupation and market access conditions for foreign investors are specified in Article 9 of the Investment Law 2020.
5.2. Market access conditions for foreign investors are considered according to the provisions of current legal documents (including laws, resolutions of the National Assembly, ordinances, resolutions of the National Assembly Standing Committee, and decrees of the Government) and international treaties to which the Socialist Republic of Vietnam is a member.
Pursuant to National Defense Law No. 22/2018/QH14 dated June 8, 2018, National Security Law No. 32/2004/QH11 dated December 3, 2004, Ordinance No. 32-L/CTN dated May 19, 1994 on protection of defense works and military zones, Ordinance No. 32/2007/PL-UBTVQH11 on protecting important works related to national security, Decree No. 04/CP dated January 16, 1995 of the Government dated January 16, 1995 promulgating Regulations on protection of defense works and military zones, Decree No. 34/2014/ND-CP dated April 29, 2014 of the Government on Regulations on border areas mainland, the Investment Registration Authority consults with the Ministry of National Defense and the Ministry of Public Security for the cases specified in Point c, Clause 2, Article 26 of the Investment Law and Point d, Clause 1, Article 32 of the Investment Law.
During the implementation process, if any problems arise, localities are requested to send a document to the Ministry of Planning and Investment for timely guidance./.
Procedures
