Regulations on ensuring the implementation of investment projects according to Vietnamese law

1. Regulations on principles for implementing investment projects?

Pursuant to the provisions of Article 42 of the Law on Investment 2020, the principles for implementing specific investment projects are specified as follows:

(1)For investment projects subject to investment policy approval, the investment policy approval must be done before the investor carries out the investment project.

(2)For investment projects subject to issuance of Investment Registration Certificates, investors are responsible for carrying out procedures for issuance of Investment Registration Certificates before implementing the investment project.

(3)Investors are responsible for complying with the provisions of this Law, laws on planning, land, environment, construction, labor, fire prevention and fighting, other relevant laws, investment policy approval documents (if any) and Investment Registration Certificate (if any) during the implementation of the investment project.

3. Regulations on ensuring investment project implementation?

According to the provisions of Article 43 of the Law on Investment 2020, regulations on ensuring the implementation of specific investment projects are as follows:

(1) Investors must deposit or have a bank guarantee on deposit obligations to ensure the implementation of investment projects that require the State to allocate land, lease land, or allow change of land use purpose, except in the following cases:

– The investor who wins the auction for land use rights to implement an investment project is allocated land by the State with land use fees collected, or leases land with a one-time land rental fee for the entire lease period;

– The investor wins the bid to implement an investment project using land;

– Investors are allocated or leased land by the State on the basis of receiving transfer of investment projects that have made deposits or have completed capital contributions and capital mobilization according to the schedule specified in the investment policy approval document and Investment Registration Certificate;

– Investors are allocated or leased land by the State to implement investment projects on the basis of receiving transfer of land use rights and assets attached to land from other land users.

(2) Based on the scale, nature and implementation progress of each investment project, the deposit level to ensure the implementation of the investment project is from 01% to 03% of the investment capital of the investor. investment project. In case an investment project includes many investment stages, the deposit amount is paid and refunded according to each stage of investment project implementation, except in cases where it is not refundable.

3. Does an investment project in the List of projects to encourage investment in agriculture and rural areas approved by the Provincial People’s Committee have to carry out investment policy approval procedures?

Pursuant to the provisions of Article 156 of the Law on Promulgation of Legal Documents 2015, which stipulates the application of specific legal documents as follows:

(1) Legal documents The law applies from the moment it comes into effect. Legal documents are applied to acts occurring at the time that document is in effect. In case the provisions of a legal document have retroactive effect, those provisions shall apply.

(2) In case legal documents have different provisions on the same issue, the document with higher legal effect shall apply

(3) In case legal documents promulgated by the same agency have different provisions on the same issue, this shall apply. apply the provisions of legal documents promulgated later.

(4) In case the new legal document does not stipulate legal liability or stipulates lesser legal liability for acts occurring before the effective date of the document, the new document shall apply.

(5) The application of domestic legal documents must not hinder the implementation of international treaties to which the Socialist Republic of Vietnam Vietnameseism is a member. In case a domestic legal document and an international treaty to which the Socialist Republic of Vietnam is a member have different provisions on the same issue, the provisions of that international treaty, except the Constitution, shall apply.