Adjustment of the Investment Registration Certificate for the project under the adjustment decision on investment guideline of the Prime Minister is a complicated procedure. T2H Lawyers with a team of experienced Lawyers and Experts will supply detailed information about this procedures.
A. Conditions to adjust the Investment Registration Certificate for the project under the adjustment decision on investment guideline of the Prime Minister:
Investor (inviduals or organizations) having project obtained Investment Registration Certificate under the decision on investment guideline of the Prime Minister changes one of some contents below:
- Adjustment of the investment’s target, location or primary technology;
- Adjustment to increase or decrease by more than 10 percent of total capital invesment makes the invesment’s target, scale and wattage changed;
- Adjustment of the investment’s deadline or the condition changes with investors (if any).
This procedure is also applied for investment under approval or decision on investment guideline defined by regulations of law before the effective date of the Law on Investment (before 01/07/2015) and accepted or decided investment guideline before this Law takes effects. Now, the investor adjusts investment project make the content of decision on investment guideline changed ( Clause 5 Article 63 Decree 118/2016/ND-CP).
Investment projects whose decisions on investment guidelines are issued by the Prime Minister.
B. A dossier consists of:
- A written request for permission for project adjustments;
- A report on the project’s progress up to the time of adjustment;
- Investor’s decision about the adjustment investment, specifically:
* The investment project’s location and area;
* The investment project’s Objectives and scale;
* Capital investment in the project (including the investor’s capital and raised capital), capital contribution and raising schedule;
* Duration of the project;
* Project execution schedule: schedule of infrastructural development and inauguration (if any); schedule of achievements of primary targets and items; targets, duration, and operations of each stage (if the project is divided into multiple stages);
* Conditions applied to the investor (if any).
- A copy of identify card or passport (if the investor is an individual); a copy of the Certificate of establishment or an equivalent paper that certifies the legal status of the investor (if the investor is an organization).
- An investment proposal that specifies: investor(s) in the project, investment objectives, investment scale, investment capital, method of capital rising, location and duration of investment, labor demand, requests for investment incentives, assessment of socio-economic effects of the project;
- Copies of one of the following documents of the transferee: financial statements of the last 02 years, commitment to provide financial support by the parent company, the guarantee for transferee’s financial capacity, documents describing the transferee’s financial capacity;
- Demand for land use; if the project doesn’t suggest land transfer, land lease, land repurposing, a copy of the lease agreement or other documents certifying that the investor has the right to use the premises to execute the project shall be submitted;.
- Explainations about project’s techonoly: names of technologies, origins, technology process diagram, primary specifications, conditions of machinery, equipment and primary technological line;
- BCC contract (if the project is executed under a BCC contract).
- Power of Attorney for T2H Lawyers.
C. Place of receving application: Department of Planning and Investment where plans to excutate the projet.
D. Settelment time:
– Within 03 working days from the receipt of the valid application, Department of Planning and Investment will send this application to both Ministry of Planning and Investment and the relate authority to get feedbacks about adjusted concerns.
– Within 10 working days from the receipt of the suggestion from The Service of Planning and Investment, authorities give opinions about adjusted concerns under its management.
– Within 20 working days from the receipt of the dossier, The Service of Planning and Investment shall request The People’s Committees of provinces’s consider and consult, send the adjustment content to the Ministry of Planning and Investment.
– Within 15 working days from the receipt of the People’s Committees of provinces’s opinions, Ministry of Planning and Investment shall make and submit a review report to the Prime Minister for making the decision on investment guidelines.
– Within 07 working days from the receipt of the review report from the Ministry of Planning and Investment, the Prime Minister shall consider and make the decision on investment guidelines.
– Within 05 working days from the receipt of the decision on investment guidelines written, The Service of Planning and Investment adjust the Investment Registration Certificates.
Contact T2H Lawyers for more information.
T2H Law Liability limited company
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