Headlines 24/02/2022 10:37 SA

Activities involved in supervision of foreign investments in Vietnam are now made known

Ngọc Ánh

On February 14, 2022, the Minister of Planning and Investment issues the Circular No.02/2022/TT-BKHDT, providing guidance on the supervision and evaluation of foreign investments in Vietnam.

On February 14, 2022, the Minister of Planning and Investment issues the Circular No.02/2022/TT-BKHDT, providing guidance on the supervision and evaluation of foreign investments in Vietnam.

According to this Circular, supervision of foreign investments in Vietnam involves the following activities:

- Investment registration agencies are in charge of the activities stipulated in clause 1 of Article 71 in the Decree No. 29/2021/ND-CP, including:

+ Assessment of investors’ compliance with stipulated reporting regimes;

+ Review of implementation of projects;

+ Review of operation or commercial use of projects;

+ Evaluation of compliance with requirements for environmental protection, land use and exploitation of available mineral resources of projects;

+ Imposition of sanctions and compliance with sanctions of investors and economic organizations;

+ Reporting on and recommended actions against problems or issues falling outside competence.

- State authorities are in charge of the activities stipulated in clause 1 of Article 72 in the Decree No. 29/2021/ND-CP, including:

+ Assessment of investment registration agencies’ compliance with stipulated reporting regimes;

+ Compliance with sanctions of investment registration agencies;

+ Other activities prescribed in clause 1 of Article 71 of the Decree No. 29/2021/ND-CP.

The Circular No. 02/2022/TT- BKHDT is entering into force as of April 1, 2022, replacing the Circular No. 09/2016/TT- BKHDT dated June 30, 2016.

>> CLICK HERE TO READ THE ARTICLE IN VIETNAMESE

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