Headlines 25/03/2024 11:28 SA

Procedure for disclosing business investment projects not subject to investment guideline approval proposed by investors (provincial level) in Vietnam

Phương Trâm

On March 5, 2024, the Minister of Planning and Investment of Vietnam promulgated Decision No. 261/QD-BKHDT on disclosure of new administrative procedures in investor selection bidding under the management of the Ministry of Planning and Investment of Vietnam.


According to the Decision, the procedure for disclosing business investment projects not subject to investment guideline approval proposed by investors (provincial level) is as follows:

Step 1: The investor formulates an application for a project proposal. The investor shall cover any cost of the formulation of such an application;

Step 2: The investor submits the application according to one of the two following cases:

- Regarding an investment project under the jurisdiction of a provincial People's Committee, the investor shall submit 4 project proposal applications to the Department of Investment and Planning. Within 3 working days from the date on which the project proposal is received, the Department of Planning and Investment shall submit reports to the President of the provincial People's Committee to assign a specialized agency to summarize and assess the project proposal application of the investor;

- Regarding an investment project under the jurisdiction of the Management Board of an economic zone, the investor shall submit 4 project proposal applications to agencies and units assigned by the Head of the Management Board of the economic zone for receipt and assessment of such applications;

Step 3: Within 25 days from the date on which tasks are assigned, agencies and units shall assess the compatibility of the project proposal applications and present them to competent persons for approval for the information on the business investment project;

Step 4: The competent authority shall disclose the information on the business investment project proposed by the investor on the Vietnam E-Procurement System (VNEPS) within 5 working days from the date on which the approval document is promulgated.

Applications for disclosure of business investment projects not subject to investment guideline approval proposed by investors (provincial level)

An application for disclosure of a business investment project not subject to investment guideline approval proposed by an investor (provincial level) includes:
 
- Application for the business investment project proposal of the investor, including information prescribed in Points b, c, d, and e Clause 2 Article 47 of the Law on Bidding 2023, specifically:

+ Name of the project; objective; investment scale; investment;

+ Project implementation location; land use situation, land area for project implementation; land use purposes; approved planning targets;

+ Project implementation time and progress; preliminary scheme for investment phasing or project component division (if any); project implementation progress by each stage (if any);

+ Other relevant contents (if any).

- Components of the application according to Points a, b, and c Clause 1 Article 33 of the Law on Investment 2020 include:

- Document requesting the implementation of the investment project, including the declaration to cover any cost and take any risk if the project is disapproved;

- Document on the investor’s legal status;

- Documents proving the financial capacity of the investor, including at least one of the following documents: financial statements in the most recent 2 years of the investor; declaration of the financial support of the parent company; declarations of the financial support of financial organizations; guarantee of the financial capacity of the investor; documents proving the financial capacity of the investor.

See more details in Decision No. 261/QD-BKHDT, effective as of March 5, 2024.

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