AUTHORITY | Ministry of Planning and Investment - MPI. |
PROCEDURE |
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| Step 1: | The investor declares information about the application file for adjustment of the outward IRC on the National Investment Information System; |
Step 2: | The investor submits the application for adjustment of the outward IRC at MPI; |
Step 3: | MPI sends dossiers to get appraisal opinions from relevant agencies; |
Step 4: | The agency that is consulted shall reply to the contents under the assigned management competence and send it to the MPI; |
Step 5: | MPI organizes appraisal and prepares appraisal report to submit to the Prime Minister. During the appraisal process, if there is any content that needs to be clarified, MPI will notify the investor in writing. In case the project is not eligible for submission to the Prime Minister for consideration and approval of the adjustment of the outward investment policy, the MPI shall notifies to stop considering the dossier; |
Step 6: | The Prime Minister shall decide to adjust the policy of outward investment; |
Step 7: | After the Prime Minister's written approval for adjustment, the competent agency in accordance with the law on management and use of state capital invested in production and business at the enterprise shall decide to adjust outward investment activities (only for investment projects of state-owned enterprises); |
Step 8: | MPI returns results to individuals/organizations. |
SUBMISSION OF DOSSIER | Directly at the Ministry of Planning and Investment. |
DOSSIER |
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| Number: | 08 (eight) dossier sets, including 01 (one) original set. |
Elements: | 1. A written request for adjustment of the investment outward registration certificate; |
2. Documentation of investor's legal status; |
3. Report on the operation of the investment project up to the time of submitting the adjustment dossier; |
4. Decision on adjustment of outward investment activities according to Article 59 or documents specified at Point e, Clause 1, Article 57 of the Law on Investment; |
5. A copy of the outward Investment Registration Certificate; |
6. A document of the tax authority certifying the fulfillment of tax payment obligation in case of adjustment to increase in outward investment capital. The date of certification by the tax authority must not be more than 03 months from the date of submission of investment project dossiers; |
7. Investment project proposal; |
8. Documents proving the financial capacity of the investor include at least one of the following documents: financial statements of the last 2 years of the investor; commitment to financial support of the parent company; financial institution's commitment to financial support; guarantee on the financial capacity of the investor; other documents proving the financial capacity of the investor (in case of adjustment of relevant content); |
9. Commitment to self-balancing foreign currency sources or written commitment to arrange foreign currency for investors of an authorized credit institution; |
10. For outward investment projects in the fields of banking, insurance, securities, press, radio and television, real estate business, investors shall submit documents from competent state agencies to satisfy the conditions for outward investment in accordance with relevant laws (if any) (if any relevant content is adjusted); |
11. Documents certifying the location of the outward investment project (if relevant content is adjusted); |
12. Documents identifying the form of outward investment (in case of adjustment of relevant contents); |
13. Documents according to the provisions of the law on foreign exchange related to activities of providing loans to economic organizations abroad in case of outward investment project is stated with this content (adjustment of relevant contents); |
14. Other relevant documents. |
ADMINISTRATIVE FEES | None. |
DURATION | Investors submit dossiers at MPI; | 15 days from the date of declaration of adjusted information on the National Investment Information System; |
MPI sends a dossier of appraisal of opinions of relevant agencies; | 03 working days from the date of receipt of complete dossiers; |
The consulted agency has an appraisal opinion on the contents under its management; | 15 days from the date of receiving the dossier; |
MPI organizes appraisal, prepares reports to submit to the Prime Minister; | 30 days from the date of receiving the dossier; |
The Prime Minister decides the policy; | 10 days from the date of receipt of the MPI appraisal report; |
MPI issues an outward investment registration certificate (in case the Prime Minister approves the policy); | 05 working days from the date of receipt of the Prime Minister's approval for adjustment of investment policies and the decision on adjustment of outward investment activities; |
MPI refuses to issue an outward investment registration certificate (in case the Prime Minister does not approve the policy); | 03 working days from the date of receipt of the Prime Minister's document of disapproval of investment policy adjustment. |
SUBJECT | Investors investing in projects in the fields of banking, insurance, securities, press, radio, television and telecommunications with outward investment capital of 400 billion VND or more; |
Investors investing in projects other than those mentioned above have an outward investment capital of 800 billion VND or more. |
RESULT | Valid dossier: The certificate of outward investment registration has been adjusted; |
Invalid dossier: Notice of completion of application/rejection of IRC. |
LEGAL BASIS | Law on Investment 2020; |
Decree 31/2021/ND-CP detailing and guiding the implementation of a number of articles of the law on investment. |