The Prime Minister’s competence to approve investment guidelines
1. Investment projects regardless of capital sources fall into one of the following cases:
– Investment projects requiring resettlement of 10,000 or more people in mountainous areas or 20,000 or more people in other regions;
– New construction investment projects: airports, airfields; runways of airports and airfields; passenger terminals of international airports; cargo terminals of airports and airfields with a capacity of 01 million tons/year or more;
– New investment projects on passenger transportation by air;
– New construction investment projects: ports, harbor areas of special seaports; harbors and harbor areas with an investment capital of VND 2,300 billion or more belonging to grade-I seaports;
– Investment projects on oil and gas processing;
– Investment projects with betting business, casino (casino), except for business in prize-winning electronic games for foreigners;
– Investment projects on construction of houses (for sale, lease, lease-purchase), urban areas in the following cases: investment projects with a land use scale of 50 hectares or more or with a scale of less than 50 hectares but a population of 15,000 people or more in urban areas, investment projects with a land use scale of 100 hectares or more or with a scale of less than 100 hectares but a population of 10,000 people or more in non-urban areas; investment projects irrespective of the size of land area and population within the protection scope of relics recognized by competent authorities as national relics or special national relics;
– Investment projects on construction and business of infrastructure of industrial parks and export processing zones;
- b. Investment projects of foreign investors in the field of telecommunications service business with network infrastructure, afforestation, publishing and press;
- Investment projects concurrently under the competence to approve investment guidelines of 02 or more provincial-level People’s Committees;
- Other investment projects falling under the competence to approve investment guidelines or investment decisions of the Prime Minister in accordance with law.
- Dossier of application for approval of investment guidelines
- For an investment project proposed by an investor, a dossier comprises:
– A written request for implementation of the investment project (including a commitment to bear all costs and risks if the project is rejected for approval);
– Documents and papers proving the legal status of the investor;
– Documents proving the investor’s financial capability;
– Proposal of the investment project (Form I.3);
– A valid copy of the certificate proving the land use right or papers proving the right to use the lawful location for the implementation of the investment project, for the project that does not request the State to allocate or lease land or permit the change of land use purpose;
– An explanation of technology for investment projects that need to be appraised and consulted on technology as prescribed;
– BCC contract if the investment project is in the form of a BCC contract.
2. For investment projects formulated by competent state agencies
– Documents proving the investor’s legal status include:
- Certified copy of passport/ID card/CCCD of the individual investor;
- A certified copy of the business establishment/registration decision of the institutional investor;
– Documents proving the investor’s financial ability can be 1 of the following documents:
- The parent company’s financial support commitment;
- Or the investor’s last 2 years financial statements or other equivalent documents.
In case the law on construction stipulates that a pre-feasibility study report must be made, the competent state agency may use the pre-feasibility study report instead of the investment project proposal.
3. Procedures for approval of investment guidelines by the Prime Minister
The order and procedures for approving investment guidelines of the Prime Minister are specified in Article 35 of the Law on Investment 2020 and Article 32 of Decree 31/2021/ND-CP, specifically as follows:
Step 1: The investor or a competent state agency as prescribed at Point a, Clause 4, Article 31 of Decree 31/2021/ND-CP submits 08 sets of dossiers of application for approval of investment guidelines.
Step 2: Within 03 working days from the date of receipt of a valid dossier, the Ministry of Planning and Investment shall send the dossier for appraisal opinions of relevant ministries, agencies and provincial-level People’s Committees where the project is expected to be implemented on the contents of the investment project under the state management of such agency as prescribed in Clause 6 or Clause 8, Article 31 of Decree 31/2021/ND-CP;
Step 3: Within 15 days from the date of receipt of the proposal of the Ministry of Planning and Investment, the consulted agency shall give its appraisal opinion on the contents under its state management and send it to the Ministry of Planning and Investment.
Step 4: Within 40 days from the date of receipt of a valid dossier, the Ministry of Planning and Investment shall appraise the dossier and make an appraisal report including the contents specified in Clause 6 or Clause 8, Article 31 of Decree 31/2021/ND-CP and submit it to the Prime Minister for approval of the investment policy.
Step 5: Within 07 working days from the date of receipt of the appraisal report of the Ministry of Planning and Investment, the Prime Minister approves the investment policy.
The above is the content of KALF’s consultation on the procedures for applying for an investment registration certificate for projects under the Prime Minister’s jurisdiction to approve investment guidelines and related issues. All of our above advice is based on applicable legal regulations. If you have any questions or requests about legal issues, please contact us for timely answers.
