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OFFICE OF THE
NATIONAL ASSEMBLY
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THE SOCIALIST
REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
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No. 08/VBHN-VPQH
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Hanoi, September
16, 2024
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LAW
ON INVESTMENT
The Law on Investment No. 61/2020/QH14 dated June
17, 2020 of the National Assembly, which has been effective since January 01,
2021, is amended by:
1. The Law on Environmental Protection No.
72/2020/QH14 dated November 17, 2020 of the National Assembly, which has been
effective since January 01, 2022.
2. The Law No. 03/2022/QH15 dated January 11, 2022
of the National Assembly on amendments to certain articles of the Law on Public
Investment, the Law on Public-Private Partnership Investment, the Law on
Investment, the Law on Housing, the Law on Bidding, the Law on Electricity, the
Law on Enterprises, the Law on Special Excise Duties and the Law on Civil
Judgment Enforcement, which has been effective since March 01, 2022;
3. The Law on Cinematography. No. 05/2022/QH15
dated June 15, 2022 of the National Assembly, which has been effective since
January 01, 2023;
4. The Law on Insurance Business No. 08/2022/QH15
dated June 16, 2022 of the National Assembly, which has been effective since
January 01, 2023;
5. The Law No. 09/2022/QH15 dated November 09, 2022
of the National Assembly on Amendments to Some Articles of the Law on Radio
Frequencies No. 42/2009/QH12, which has been effective since July 01, 2023;
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7. The Law on Identification No. 26/2023/QH15 dated
November 27, 2023 of the National Assembly, which has been effective since July
01, 2024;
8. The Law on Housing No. 27/2023/QH15 dated
November 27, 2023 of the National Assembly, which has been effective since
January 01, 2024;
9. The Law on Water Resources No. 28/2023/QH15
dated November 27, 2023 of the National Assembly, which has been effective
since July 01, 2024;
10. The Law on Land No. 31/2024/QH15 dated January
18, 2024 of the National Assembly, which has been effective since January 01,
2024[1];
11. The Law on Archives No. 33/2024/QH15 dated June
21, 2024 of the National Assembly, which has been effective since July 01,
2025;
12. The National Assembly’s Law No. 43/2024/QH15
dated June 29, 2024 on amendments to certain Articles of Law on Land No.
31/2024/QH15, Law on Housing No. 27/2023/QH15, Law on Real Estate Business No.
29/2023/QH15 and Law on Credit Institutions No. 32/2024/QH15, which has been
effective since August 01, 2024.
Pursuant to the Constitution of the Socialist
Republic of Vietnam;
The National Assembly hereby promulgates the Law
on Investment[2].
Chapter IV
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Article 1. Scope
This Law provides for business investment
activities in Vietnam and outward business investment activities.
Article 2. Regulated entities
This Law applies to investors, and agencies,
organizations and individuals (hereinafter referred to as “entities”) involved
in business investment activities.
Article 3. Definitions
For the purposes of this Law, the terms below are
construed as follows:
1. “approval
for investment guidelines” means a competent authority approving the
objectives, location, scale, schedule and duration of a project; investor or
form of selection of investor and special mechanisms or special policies (if
any) to execute an investment project.
2. “investment
registration authority” means a regulatory agency that issues, adjusts and
revokes investment registration certificates.
3. “national
investment database” means a collection of data on investment projects
nationwide that is connected to databases of relevant agencies.
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5. “expansion
project” means an investment project on development of a running project by
expanding the scale, improving the capacity, applying new technologies,
reducing pollution or improving the environment.
6. “new
investment project” means a project that is executed for the first time or
a project independent from any other running project.
7. “start-up
project” means an investment project that implements ideas on the basis of
exploiting intellectual property, technologies and new business models and is
able to grow quickly.
8. “business
investment” means an investor investing capital to do business.
9. “business
investment conditions” mean those which must be satisfied by an individual
or organization upon making business investment in conditional business lines.
10. “market
access conditions applied to foreign investors” mean those which must be
satisfied by foreign investors to make investment in the List of business lines
with prohibited and restricted market access (hereinafter referred to as “the
Negative List for Market Access”) specified in Clause 2 Article 9 of this Law.
11. “investment
registration certificate” means a physical or electronic document bearing
information registered by an investor about an investment project.
12. “National
Investment Information System” means a system of professional information
meant for monitoring, assessment, and analysis of nationwide investment in
order to serve state management tasks and assist investors in carrying out
investment activities.
13. “outward
investment activity” means an investor transferring investment capital from
Vietnam to a foreign country and using profit obtained from such investment
capital to carry out outward investment activities in the foreign country.
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15. “export-processing
zone” means an industrial park specialized in manufacturing of exported
products or provision of services for manufacturing of exported products and
export.
16. “industrial
park” means an area with a defined geographical boundary specialized in
production of industrial goods and provision of services for industrial
production.
17. “economic
zone” means an area with a defined geographical boundary which consists of
multiple dedicated areas and is meant to achieve the objectives of investment
attraction, socio-economic development and protection of national defense and
security.
18. “investor” means
an organization or individual that carries out business investment activities.
Investors include domestic investors, foreign investors and foreign-invested
business organizations.
19. “foreign
investor” means an individual holding a foreign nationality or an
organization established under foreign laws and carrying our business
investment activities in Vietnam.
20. “domestic
investor” means an individual holding Vietnamese nationality or a business
organization whose members or shareholders are not foreign investors.
21. “business
organization” means an organization established and operating in accordance
with Vietnam’s laws. Business organizations include enterprises, cooperatives,
cooperative unions and other organizations that carry out business investment
activities.
22. “foreign-invested
business organization” means an organization whose members or shareholders
are foreign investors.
23. “investment
capital” means money and other assets prescribed by the civil law and
international treaties to which the Socialist Republic of Vietnam is a signatory
for the purpose of carrying out business investment activities.
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1. Business
investment activities made within Vietnam’s territory must comply with this Law
and relevant laws.
2. Where regulations
on banned business lines or conditional business lines in this Law are
different from those laid down in other laws promulgated before the effective
date of this Law, regulations of this Law shall apply.
Regulations on names of banned business lines and
conditional business lines in other laws must be consistent with those set out
in Article 6 and Appendices to the Law on Investment.
3. Where
regulations on procedures for making business investment or on investment
assurance in this Law are different from those laid down in other laws
promulgated before the effective date of this Law, regulations of this Law
shall apply, except for the following cases:
a) Investment in, management and use of state
capital invested in enterprises, which are prescribed in the Law on Management
and Use of State Capital Invested in Manufacturing and Business Activities of
Enterprises;
b) Power and procedures for making public
investment and management and use of public investment capital, which are
prescribed in the Law on Public Investment;
c) Power and procedures for making investment and
executing projects; law governing project contracts; investment assurance,
mechanisms for management of state capital applied to PPP projects, which are
prescribed in the Law on Public Private Partnership Investment Form;
d) Execution of construction, housing and urban
area projects in compliance with the Law on Construction, Law on Housing and
Law on Real Estate Business after a competent authority grants approval for the
investment guidelines or adjustment to the investment guidelines in accordance
with regulations of the Law on Investment;
dd) Power, procedures and conditions for making
business investment, which are prescribed in the Law on Credit Institutions,
Law on Insurance Business and Law on Petroleum;
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4. Where a law
promulgated after the effective date of this Law contains regulations on
investment contradicting regulations of this Law, the former is required to
specify the cases to which its regulations apply and the cases to which this
Law applies.
5. With regard to
any contract to which at least a party is a foreign investor or a business
organization defined in Clause 1 Article 23 of this Law, the parties may reach
an agreement on whether to apply foreign laws or international practice if such
agreement does not contravene Vietnam’s laws.
Article 5. Policies on business investment
1. Investors are
entitled to carry out business investment activities in the business lines that
are not banned by this Law. Regarding
conditional business lines, investors must satisfy business investment
conditions as prescribed by law.
2. Investors may
decide their business investment activities on their own and take
responsibility therefor in accordance with this law and relevant laws; may
access and make use of loan capital, assistance funds, land, and other
resources as prescribed by law.
3. Any business
investment activity of an investor shall be suspended, stopped or terminated if
such activity harms or potentially harms national defense and security.
4. The ownership
of assets, capital, income, other lawful rights and interests of investors are
recognized and protected by the State.
5. The State shall
treat investors equitably; introduce policies to encourage and enable investors
to carry out business investment activities and to ensure sustainable
development of economic sectors.
6. International
investment-related treaties to which Socialist Republic of Vietnam is a
signatory are upheld and implemented by the State.
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1. The business
investment activities below are banned:
a) Business in narcotic substances specified in
Appendix I hereof;
b) Business in chemicals and minerals specified in
Appendix II hereof;
c) Business in specimens of wild flora and fauna
specified in Appendix 1 of Convention on International Trade in Endangered
Species of Wild Fauna and Flora; specimens of rare and/or endangered species of
wild fauna and flora in Group I of Appendix III hereof;
d) Prostitution business;
dd) Human trafficking; trade in human tissues,
corpses, human organs and human fetuses;
e) Business activities pertaining to asexual human
reproduction;
g) Trade in firecrackers.
h) Provision of debt collection services.
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Article 7. Conditional business lines
1. Conditional
business lines are the business lines in which the business investment must
satisfy certain conditions for reasons of national defense and security, social
order and security, social ethics, or public health.
2. A List of conditional
business lines is provided in Appendix IV hereof.
3. Conditions for
making business investment in the business lines mentioned in Clause 2 of this
Article are specified in the Laws and Resolutions of the National Assembly,
Ordinances and Resolutions of the Standing Committee of the National Assembly,
Decrees of the Government and international treaties to which the Socialist
Republic of Vietnam is a signatory. Ministries,
ministerial agencies, People’s Councils, People’s Committees at all levels, and
other entities must not issue regulations on conditions for making business
investment.
4. Conditions for
making business investment must be appropriate for the reasons in Clause 1 of
this Article and be public, transparent, objective and economic in terms of
time and costs of compliance by investors.
5. Regulations on
business investment conditions shall contain the following:
a) Subjects and scope of the business investment
conditions;
b) Forms of fulfillment of the business investment
conditions;
c) Contents of the business investment conditions;
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dd) Regulatory agencies and agencies that have the
power to handle administrative procedures regarding business investment
conditions;
e) Effective dates of licenses or certificates or
other written confirmation or approval (if any).
6. Business
investment conditions to be fulfilled are those specified in:
a) Licenses;
b) Certificates;
c) Credentials;
d) Written confirmation or written approval;
dd) Other requirements that must be satisfied by
individuals and business organizations to conduct business investment
activities without obtaining written confirmation from a competent authority.
7. The conditional
business lines and the corresponding conditions shall be posted on the National
Business Registration Portal.
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Article 8. Amendment and addition of the List of
banned business lines, the List of conditional business lines and the business
investment conditions
1. Depending on
the socio-economic conditions and state management requirements in each period,
the Government shall review the banned business lines, the List of conditional
business lines and submit amendments and additions to Article 6, Article 7 and
Appendices attached hereto to the National Assembly in accordance with the
simplified procedures.
2. The amendment
and addition of conditional business lines or investment business conditions
must comply with Clauses 1, 3, 4, 5 and 6 Article 7 of this Law.
Article 9. Business lines with prohibited and
restricted market access and market access conditions applied to foreign
investors
1. Market access
conditions applied to foreign investors are the same as those applied to
domestic investors, except for the case specified in Clause 2 of this Article.
2. Pursuant to
Laws and Resolutions of the National Assembly, Ordinances and Resolutions of
the Standing Committee of the National Assembly, Decrees of the Government and
international treaties to which the Socialist Republic of Vietnam is a
signatory, the Government shall promulgate a Negative List for Market Access,
including:
a) Prohibited business lines;
b) Restricted business lines.
3. Market access
conditions applied to foreign investors specified in the Negative List for
Market Access include:
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b) Investment method;
c) Scope of investment;
d) Capacity of the investor; partners participating
in the investment activities;
dd) Other conditions specified in the Laws and
Resolutions of the National Assembly, Ordinances and Resolutions of the
Standing Committee of the National Assembly, Decrees of the Government and
international treaties to which the Socialist Republic of Vietnam is a
signatory.
4. The Government
shall elaborate this Article.
Chapter II
INVESTMENT GUARANTEES
Article 10. Guarantees for asset ownership
1. Lawful assets
of investors shall not be nationalized or confiscated by administrative
measures.
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Article 11. Guarantees for business investment
activities
1. Investors are
not required by the State to satisfy the following requirements:
a) Give priority to purchase or use of domestic
goods/services; or only purchase or use goods/services provided by domestic
producers/service providers;
b) Achieve a certain export target; restrict the
quantity, value, types of goods/services that are exported or domestically
produced/provided;
c) Import a quantity/value of goods that is
equivalent to the quantity/value of goods exported; or balance foreign
currencies earned from export to meet import demands;
d) Reach a certain rate of import substitution;
dd) Reach a certain level/value of domestic
research and development;
e) Provide goods/service at a particular location
in Vietnam or overseas;
g) Have the headquarters situated at a location
requested by a competent authority.
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The Government shall elaborate this Clause.
Article 12. Guarantees for transfer of foreign
investors’ assets overseas
After all financial obligations to Vietnamese
government are fulfilled, foreign investors are permitted to transfer the
following assets overseas:
1. Investment
capital and proceeds from liquidation of its investment;
2. Their income
obtained from business investment activities;
3. Money and other
assets under the lawful ownership of the investors.
Article 13. Guarantees for business investment
upon changes of laws
1. Where a new law
provides more favorable investment incentives, investors are entitled to enjoy
the new incentives for the remaining period of the incentive enjoyment of the
project, except for special investment incentives for the investment projects
in the case specified in Point a Clause 5 Article 20 of this Law.
2. Where a new law
that provides less favorable investment incentives than those previously
enjoyed by investor is promulgated, investors shall keep enjoying the current
incentives for the remaining period of the incentive enjoyment of the project.
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4. Where an
investor is no longer eligible for investment incentives prescribed in Clause 3
of this Article, one or more of the following solutions shall be adopted:
a) Deduct the damage actually suffered by the
investor from the investor's taxable income;
b) Adjust the objectives of the investment project;
c) Assist the investor in remedying damage.
5. With regard to
the investment guarantee measure in Clause 4 of this Article, the investor
shall make a written request within 03 years from the effective date of the new
legal document.
Article 14. Settlement of disputes over business
investment activities
1. Disputes over
business investment activities in Vietnam shall be settled through negotiation
and conciliation. If the negotiation or
conciliation fails, the dispute shall be settled by an arbitration body or by a
court in accordance with Clauses 2, 3, and 4 of this Article.
2. Every dispute
between a Vietnamese investor and a foreign-invested business organization, or
between a domestic investor or a foreign-invested business organization and a
regulatory agency over business investment activities within Vietnam’s
territory shall be settled by a Vietnam's arbitration body or Vietnam’s court,
except for the cases in Clause 3 of this Article.
3. Every dispute
between investors, one of which is a foreign investor or a business
organization defined in Points a, b and c Clause 1 Article 23 of this Law,
shall be settled by one of the following agencies/organizations:
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b) Vietnam’s arbitration body;
c) Foreign arbitration body;
d) International arbitration body;
dd) An arbitral tribunal established by the parties
in dispute.
4. Every dispute
between a foreign investor and a regulatory agency over business investment
activities within Vietnam’s territory shall be settled by Vietnam’s arbitral
tribunal or Vietnam’s court, unless otherwise agreed under a contract or
prescribed by an international treaty to which the Socialist Republic of
Vietnam is a signatory.
Chapter III
INVESTMENT INCENTIVES AND ASSISTANCE
Article 15. Forms and objects for application of
investment incentives
1. Forms of
investment incentives:
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b) Exemption from import tax on goods imported to
form fixed assets; raw materials, supplies and components for manufacturing
purposes in accordance with regulations of law on import and export tax;
c) Exemption from and reduction of land levy and
land rents;
d) Accelerated depreciation, increasing the
deductible expenses upon calculation of taxable income.
2. Entities
eligible for investment incentives:
a) Investment projects in business lines eligible
for investment incentives specified in Clause 1 Article 16 of this Law;
b) Investment projects located in the areas
eligible for investment incentives specified in Clause 2 Article 16 of this
Law;
c) Any investment project whose capital is at least
VND 6,000 billion of which at least VND 6,000 billion is disbursed within 03
years from the issuance date of the investment registration certificate or the
approval for investment guidelines and which satisfies any of the following
criteria: the total revenue is at least VND 10,000 billion per year within 03
years from the year in which the revenue is earned or the project has more than
3,000 employees;
d) Projects on investment in social housing
construction; investment projects located in rural areas and employing at least
500 employees; investment projects that employ persons with disabilities in
accordance with regulations of law on persons with disabilities.
dd) Hi-tech enterprises, science and technology
enterprises and science and technology organizations; projects involving
transfer of technologies on the List of technologies the transfer of which is
encouraged in accordance with regulations of law on technology transfer;
technology incubators, science and technology enterprise incubators prescribed
by the law on high technologies and law on science and technology; enterprises
manufacturing and providing technologies, equipment, products and services with
a view to satisfaction of environment protection requirements prescribed by
regulations of law on environmental protection;
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g) Investment in business in small and medium-sized
enterprises’ product distribution chain; investment in business in technical
establishments supporting small and medium-sized enterprises, small and
medium-sized enterprise incubators; investment in business in co-working spaces
serving small and medium-sized enterprises and startups prescribed by
regulations of law on provision of assistance for small and medium-sized
enterprises.
3. Investment
incentives shall be given to new investment projects and expansion projects.
4. The level of
each type of incentives shall be specified by regulations of the Law on
Taxation, the Law on Accounting and the Law on Land.
5. The investment
incentives applied to the objects mentioned in Points b, c and d Clause 2 of
this Article do not apply to:
a) Projects on investment in mineral mining;
b) Projects on investment in manufacturing/sale of
goods/services subject to special excise tax according to the Law on Special
Excise Tax, except for projects on manufacturing of automobiles, aircrafts and
yachts.
c) Projects on investment in commercial housing
construction prescribed by regulations of law on housing.
6. Investment
incentives applied for a fixed term and on the basis of results of project
execution. Every investor must satisfy
conditions for investment incentives in accordance with regulations of law
during the period of enjoying investment incentives.
7. An investment
project that is eligible for various levels of investment incentive, including
investment incentive specified in Article 20 of this Law may apply the highest
level.
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Article 16. Business lines and areas eligible
for investment incentives
1. Business lines
eligible for investment incentives:
a) Hi-tech activities, hi-tech supporting industry
products, research, manufacturing and development of products formed from
science and technology results in accordance with regulations of law on science
and technology;
b) Manufacturing of new materials, new energy,
clean energy, renewable energy; manufacturing of products with an added value
of 30% or more; energy-saving products;
c) Manufacturing of key electronics, mechanical
products, agricultural machinery, automobiles, automobile parts; shipbuilding;
d) Manufacturing of products on the List of
prioritized supporting industry products;
dd) Manufacturing of IT products, software
products, digital contents;
e) Breeding, growing and processing of agriculture
products, forestry products, aquaculture products; afforestation and forest
protection; salt production; fishing and fishing logistics services; production
of plant varieties, animal breeds and biotechnology products;
g) 2
Collection, treatment, recycling or re-use of waste; development and storage of
water and restoration of water sources;
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i) Pre-school education, general education,
vocational education, higher education;
k) Medical examination and treatment; manufacturing
of medicinal products and medicinal materials, storage of medicinal products;
scientific research into preparation technology and biotechnology serving
creation of new medicinal products; manufacturing of medical equipment;
l) Investment in sports facilities for the disabled
or professional athletes; protection and promotion of value of cultural
heritage;
m) Investment in geriatric centers, mental health
centers, treatment for agent orange patients; care centers for the elderly, the
disabled, orphans, street children;
n) People's credit funds, microfinance
institutions;
o) Manufacturing of goods and provision of services
that create or participate in value chains and industry linkage clusters.
2. Areas eligible
for investment incentives:
a) Disadvantaged areas and extremely disadvantaged
areas;
b) Industrial parks, export-processing zones,
hi-tech zones and economic zones.
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Article 17. Procedures for applying investment
incentives
Based on the objects specified in Clause 2 Article
15 of this Law, the written approval for investment guidelines (if any), the
investment registration certificate (if any) and other relevant regulations of
law, investors shall determine investment incentives themselves and follow
procedures for enjoying investment incentives at the tax authority, finance
authority, customs authority or other competent authority corresponding to each
type of investment incentive.
Article 18. Forms of investment assistance
1. Forms of
investment assistance:
a) Assistance in development of technical
infrastructure and social infrastructure inside and outside the perimeter of
the investment project;
b) Assistance in training and development of human
resources;
c) Credit assistance;
d) Assistance in access to business premises;
assistance in relocation of business establishments under decisions of
regulatory agencies;
dd) Assistance in science, technology and
technology transfer;
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g) Assistance in research and development.
2. The Government
shall, according to the orientation for socio-economic development and the
ability to balance the state budget in each period, specify the forms of
investment assistance in Clause 1 of this Article which is provided for hi-tech
enterprises, science and technology enterprises, science and technology
organizations, enterprises investing in agriculture and rural areas,
enterprises investing in education, dissemination of laws and other entities.
Article 19. Assistance in development of
infrastructure of industrial parks, export-processing zones, hi-tech zones and
economic zones
1. 3 Pursuant to the planning decided or
approved in accordance with regulations of law on planning, Ministries,
ministerial agencies and provincial People’s Committees shall formulate plans
for investment and development and organize construction of technical
infrastructure and social infrastructure beyond industrial parks,
export-processing zones, hi-tech zones and dedicated areas of economic zones;
in respect of industrial parks where worker housing is built, regulations under
the Law on Housing shall be adhered to.
2. The State shall
provide assistance for part of the capital investment in development from the
state budget and concessional loan capital in order to synchronously develop
the technical infrastructure and social infrastructure inside and outside the
perimeter of industrial parks in disadvantaged areas or extremely disadvantaged
areas.
3. The State shall
provide assistance for part of the capital investment in development from the
state budget, concessional loan capital, and employ other capital raising
methods to develop the technical infrastructure and social infrastructure in
economic zones and hi-tech zones.
Article 20. Special investment incentives and
assistance
1. The Government
shall decide to apply special investment incentives and assistance with a view
to encouraging the development of some investment projects that exert
significant socio-economic effects.
2. Objects
eligible for special investment incentives and assistance specified in Clause 1
of this Article include:
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b) Investment projects in the business line
eligible for special investment incentives with an investment capital of at
least VND 30,000 billion and disbursing at least VND 10,000 billion within 03
years from the issuance date of the investment registration certificate or the
approval for investment guidelines.
3. Level and
duration of application of special investment incentives are prescribed by the
Law on Corporate Income Tax and law on land.
4. Forms of
special investment assistance are the same as those mentioned in Clause 1
Article 18 of this Law.
5. Special
investment incentives and assistance set out in this Article do not apply to:
a) any investment project that has been granted the
investment certificate, the investment registration certificate or the decision
on investment guidelines before the effective date of this Law;
b) the investment projects mentioned in Clause 5
Article 15 of this Law.
6. The Government
shall request the National Assembly to decide to apply investment incentives
other than those specified in this Law and other laws if it is necessary to
encourage the development of a project of special importance or a special
administrative - economic unit.
7. The Government
shall elaborate this Article.
Chapter IV
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Section 1. FORMS OF INVESTMENT
Article 21. Forms of investment
1. Investment in
establishment of a business organization.
2. Investment in
the form of capital contribution or purchase of shares or stakes.
3. Execution of an
investment project.
4. Investment in
the form of a business cooperation contract.
5. New forms of
investment and types of business organizations prescribed by the Government's
regulations.
Article 22. Investment in establishment of a
business organization
1. Every investor
shall establish a business organization in accordance with the following
regulations:
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b) A foreign investor that establishes a business
organization shall satisfy market access conditions applied to foreign
investors specified in Article 9 of this Law;
c) Before establishing a business organization, the
foreign investor must have an investment project and follow the procedures for
issuance or adjustment of an investment registration certificate, except for
establishment of a small and medium-sized start-up enterprise and
a startup investment fund in accordance with regulations of law on
provision of assistance for small and medium-sized enterprises.
2. From the date
on which the enterprise registration certificate or an equivalent document is
issued, the business organization established by a foreign investor shall be
the investor that executes the investment project set out in the investment
registration certificate.
Article 23. Conduct of investment activities by
foreign-invested business organizations
1. When
establishing a new business organization, making investment by contributing
capital, purchasing shares or stakes of a business organization, or making
investment under a BCC contract, a business organization must satisfy the same
conditions and follow the same investment procedures as foreign investors if:
a) Over 50% of its charter capital is held by a foreign
investor(s) or, in case of a partnership, the majority of its general partners
are foreigners;
b) Over 50% of its charter capital is held by a
business organization(s) mentioned in Point a of this Clause;
c) Over 50% of its charter capital is held by a
foreign investor(s) and a business organization(s) mentioned in Point a of this
Clause.
2. Business
organizations other than those mentioned in Points a, b and c Clause 1 of this
Article shall satisfy conditions and follow investment procedures applied to
domestic investors when establishing a business organization, when making
investment by contributing capital, purchasing shares or purchasing stakes of a
business organization or when making investment under a business cooperation
contract.
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4. The Government
shall elaborate procedures for establishing business organizations, and conduct
of investment activities by foreign investors and foreign-invested business
organizations.
Article 24. Investment in form of capital
contribution or purchase of shares or stakes
1. Investors are
entitled to contribute capital, purchase shares or purchase stakes of business
organizations.
2. Foreign
investors making investment by contributing capital, purchasing shares and
purchasing stakes of business organizations must:
a) satisfy market access conditions applied to
foreign investors as prescribed in Article 9 of this Law;
b) ensure national defense and security in
accordance with this Law;
c) comply with regulations of the law on land and
conditions for receipt of land use rights and conditions for use of land on
islands or border or coastal communes.
Article 25. Forms of capital contribution or
purchase of shares or stakes
1. A foreign
investor may contribute capital to a business organization in the following
forms:
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b) Contribution of capital to limited liability
companies and partnerships;
c) Contribution of capital to other business
organizations not mentioned in Point a and Point b of this Clause.
2. A foreign
investor may purchase shares or stakes of a business organization in the
following forms:
a) Purchase of shares in a joint-stock company from
such company or its shareholders;
b) Purchase of stakes of members of a limited
liability company to become a member of such limited liability company;
c) Purchase of stakes of a capital contributing
member of a partnership to become a capital contributing member of such
partnership;
d) Purchase of stakes of members of other economic
entities not mentioned in Points a, b and c of this Clause.
Article 26. Procedures for making investment by
contributing capital, purchasing shares or purchasing stakes
1. Upon
contributing capital, purchasing shares or purchasing stakes of a business
organization, the investor shall satisfy conditions and follow procedures for
change of members or shareholders in accordance with regulations of law
applicable to each type of business organization.
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a) The capital contribution or purchase of shares
or stakes increases the ownership ratio by foreign investors in a business
organization conducting business in the restricted business lines;
b) The capital contribution or purchase of shares
or stakes results in a foreign investor or business organization specified in
Points a, b and c Clause 1 Article 23 of this Law holding over 50% of the
charter capital of the business organization in the following cases: The
holding of charter capital by the foreign investor is increased from less than
or equal to 50% to over 50%; the holding of charter capital by the foreign
investor is increased while such foreign investor is holding over 50% of the
charter capital of the business organization;
c) The foreign investor contributes capital,
purchases shares or stakes of a business organization that holds a certificate
of rights to use land on an island or in a border or coastal commune, or in
another area that affects national defense and security.
3. Investors other
than those mentioned in Clause 2 of this Article shall follow procedures for
changing shareholders/members as prescribed by law when contributing capital,
purchasing shares or stakes of business organizations.
If such investors wish to register their capital contribution or
purchase of shares or stakes of business organizations, regulations in Clause 2
of this Article shall be complied with.
4. The Government
shall provide specific regulations on applications and procedures for capital
contribution and purchase of shares and stakes of business organizations
specified in this Article.
Article 27. Investment under business
cooperation contracts
1. Business
cooperation contracts signed between domestic investors shall be executed in
accordance with the civil law.
2. Procedures for
issuance of investment registration certificates in Article 38 of this Law
shall apply to business cooperation contracts signed between a domestic
investor and a foreign investor, or between foreign investors.
3. Parties to a
business cooperation contract shall establish a coordinating board to execute
the BCC. Functions, tasks and powers of the coordinating board shall be agreed
upon by the parties.
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1. A business
cooperation contract shall contain at least:
a) Names, addresses and authorized representatives of
parties to the contract; business address or project address;
b) Objectives and scope of business;
c) Contributions by the parties to the contract,
and distribution of business investment results between the parties;
d) Schedule and duration of the contract;
dd) Rights and obligations of parties to the
contract;
e) Adjustment, transfer and termination of the
contract;
g) Responsibilities for breaches of the contract;
method of dispute settlement.
2. During the
execution of a business cooperation contract, parties may reach an agreement on
using assets derived from the business cooperation to establish an enterprise
in accordance with regulations of law on enterprises.
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Section 2. APPROVAL FOR INVESTMENT GUIDELINES
AND INVESTOR SELECTION
Article 29. Selecting investors to execute
investment projects
1. The investor
selection shall be carried out by:
a) holding land use right auction in accordance
with regulations of law on land; or
b) bidding to select an investor in accordance with
regulations of law on bidding; or
c) approving an investor as prescribed in Clauses 3
and 4 of this Article.
2. The method of
investor selection mentioned in Points a and b Clause 1 of this Article shall
be adopted after the approval for investment guidelines is granted, except for
the investment projects not subject to approval for investment guidelines.
3. [5] The competent authority shall follow
procedures for investor approval in the following cases:
a) The land use right auction is unsuccessful in
accordance with the Land Law;
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4. For
an investment project subject to approval for its investment guidelines, the
competent authority shall grant approval for both investment guidelines and
investor without holding a land use right auction or bidding to select investor
in the following cases:
a) The investor has the land use rights, except for
the case where the State expropriates land for national defense and security
purposes or for socio-economic development in the national or public interest
in accordance with regulations of law on land;
b) The investor receives the agricultural land use
rights, receives the agricultural land use rights as contributed capital or
leases the agricultural land use rights to execute an investment project on
non-agricultural production or business and the land is not subject to land
expropriation by the State in accordance with regulations of law on land;
c) The investor executes the investment project in
an industrial park or hi-tech zone;
d) Other cases not subject to an auction or bidding
in accordance with regulations of law.
5. The Government
shall elaborate this Article.
Article 30. The National Assembly’s power to
approve investment guidelines
The National Assembly shall grant approval for
investment guidelines of the following investment projects:
1. Investment
projects that exert great effects or potentially serious effects on the
environment, including:
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b) Projects that require repurposing of land of
special-use forests, headwater protection forests or border protection forest
of at least 50 hectares; of sand-fixing and windbreak coastal forests or
protection forests for wave prevention of at least 500 hectares; of production
forests of at least 1,000 hectares;
2. Investment
projects that require repurposing of land meant for wet rice cultivation during
with 02 or more crops of at least 500 hectares;
3. Investment
projects that require relocation of 20,000 people or more in mountainous areas
or 50,000 people or more in other areas;
4. Investment
projects that require application of a special mechanism or policy that needs
to be decided by the National Assembly.
Article 31. The Prime Minister’s power to approve
investment guidelines
Except for the investment projects mentioned in
Article 30 of this Law, the Prime Minister shall grant approval for investment
guidelines of the following investment projects:
1. Investment
projects regardless of capital sources in any one of the following cases:
a) Investment projects that require relocation of
10,000 people or more in mountainous areas or 20,000 people or more in other
areas;
b) Investment projects on construction of: airports
and aerodromes; runways of airports and aerodromes; international passenger
terminals; cargo terminals of airports and aerodromes with a capacity of at
least 01 million tonnes per year;
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d) Investment projects on construction of ports and
wharves of special seaports; ports and wharves in which investment is at least
VND 2,300 billion within the category of Class I seaports;
dd) Investment projects on petroleum processing;
e) Investment projects which involve betting and
casino services, excluding business in prize-winning electronic games for
foreigners;
g)[6] Investment projects on construction of
residential housing (for sale, lease or lease purchase) and urban areas that
use at least 300 hectares of land or with a population of at least 50,000
people;
g1)[7]
Investment projects regardless of the area of land used or population within
the safety perimeter of relics of level I recognized by the competent authority
as the national and special national relics; or within the safety perimeter of
relics of level II recognized by the competent authority as the special
national relics under the World Heritage List;
h) Investment projects on construction and
operation of infrastructure in industrial zones and export processing zones;
2. Foreign
investors’ investment projects in the following fields: provision of
telecommunications services with network infrastructure; afforestation;
publication, press;
3. Investment
projects which at the same time fall within the power of at least two
provincial People's Committees to grant approval for investment guidelines;
4. Other
investment projects subject to approval for their investment guidelines or
subject to investment decision by the Prime Minister as prescribed by law.
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1. Except for the
investment projects set out in Articles 30 and 31 of this Law, the provincial
People’s Committees shall grant approval for investment guidelines of the
following investment projects:
a) Investment projects that request the State to
allocate or lease out land without auction or bidding for or receipt of land
use rights, and investment projects that request permission to repurpose land,
except for cases of allocation, lease or permission for repurposing of land of
households or individuals not subject to the written approval by the provincial
People's Committee in accordance with regulations of law on land;
b)[8]
Investment projects on construction of residential housing (for sale, lease or lease purchase) and urban
areas that use less than 300 hectares of land or with a population of less than
50,000 people;
b1)[9]
Investment projects regardless of the area of land used or population within
the safety perimeter of relics of level II recognized by the competent
authority as the national and special national relics; except for the special
national relics under the World Heritage List; investment projects
regardless of the area of land used or population within a restricted
development area or within an historic inner area (determined
in accordance with urban area planning projects) of a special urban area;
c) Projects on investment in golf course
construction and business;
d) Investment projects of foreign investors and
foreign-invested business organizations executed on islands or in border or coastal
communes; in other areas affecting national defense and security.
2. The investment
guidelines of the investment projects in Points a, b and d Clause 1 of this
Article executed in industrial parks, export-processing zones, hi-tech zones
and economic zones in conformity with planning approved by competent
authorities shall be approved by management boards of such industrial parks,
export-processing zones, hi-tech zones and economic zones.
3. The Government
shall elaborate this Article.
Article 33. Applications for and contents of
appraisal of requests for investment guideline approval
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a) An application form for execution of the
investment project, including a commitment to incur all costs and risks if the
project is not approved;
b) A document about the investor’s legal status;
c) Document(s) proving the financial capacity of
the investor including at least one of the following documents: the investor’s
financial statements for the last two years; commitment of a parent company to
provide financial support; commitment of a financial institution to provide
financial support; guarantee for the investor’s financial capacity; other
document proving the investor’s financial capacity;
d) Proposal for the investment project including
the following main contents: investor or method of investor selection,
investment objectives, investment scale, investment capital and plan for
raising capital, location, duration and schedule of the investment project,
information about the current use of land in the location of the project and
proposed demand for land use (if any), demand for labor, proposal for
investment incentives, impact and socio – economic efficiency of the project
and preliminary assessment of environmental impact (if any) in accordance with
regulations of law on environmental protection.
If the law on construction requires formulation of
a pre-feasibility study report, the investor is entitled to submit the
pre-feasibility study report instead of a proposal for the investment project;
dd) If the project does not require the State to
allocate or lease out land or to permit land repurposing, a copy of the
document regarding the land use rights or other document identifying the right
to use the location for execution of the investment project is required to be
submitted;
e) Contents of the explanation for the technology
to be used in the investment project if the project requires appraisal and collection
of opinions on the technology in accordance with regulations of law on
technology transfer;
g) The business cooperation contract if the
investment project is executed under a business cooperation contract;
h) Other documents relating to the investment
project, and requirements on the eligibility and capacity of the investor in
accordance with regulations of law (if any).
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a) An application for approval for investment
guidelines;
b) Proposal for the investment project including
the following main contents: investment objectives, investment scale,
investment capital and plan for raising capital, location, duration and
schedule of the investment project; information about the current use of land
in the location of the project, conditions for land expropriation if the
project is subject to land expropriation, expected demand for land use (if
any); preliminary assessment of environmental impact (if any) in accordance
with the law on protection of the environment protection; expected method of
investor selection and conditions applicable to the investor (if any); and
special mechanisms and policies (if any).
If the law on construction requires formulation of
a pre-feasibility study report, the competent authority is entitled to submit
the pre-feasibility study report instead of a proposal for the investment
project.
3. Contents of
appraisal of the request for investment guideline approval include:
a) Assessment of the conformity of the investment
project with national planning, regional planning, provincial planning, urban
planning and special economic - administrative unit planning (if any);
b) Assessment of the demand for land use;
c) Preliminary assessment of the socio-economic
efficiency of the project; and preliminary assessment of environmental impact
(if any) in accordance with regulations of law on environmental protection;
d) Assessment of investment incentives and
conditions for enjoying investment incentives (if any);
dd) Assessment of the technology to be used in the
investment project if the project requires appraisal and collection of opinions
on the technology in accordance with regulations of law on technology transfer;
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4. Contents of
appraisal of the request for both investment guideline approval and investor
approval:
a) The contents specified in Clause 3 of this
Article;
b) The ability to satisfy the conditions for land
allocation or land lease in the case of land allocation or land lease without
auction of the land use right or bidding for investor selection; the ability to
satisfy the conditions for land repurposing if the project requires land
repurposing;
c) Assessment of satisfaction of market access
conditions applied to foreign investors (if any);
d) Other conditions applicable to the investor in
accordance with relevant regulations of law.
5. The Government
shall elaborate this Article.
Article 34. Procedures for investment guideline
approval by the National Assembly
1. The application
specified in Clauses 1 and 2 Article 33 of this Law shall be submitted to the
Ministry of Planning and Investment.
2. Within 15 days
from the date on which the sufficient application is received, the Ministry of
Planning and Investment shall submit a report to the Prime Minister and request
establishment of a State Appraisal Council.
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4. At least 60
days before the opening of the meeting of the National Assembly, the Government
shall prepare an application for investment guideline approval and submit it to
the National Assembly’s agency presiding over validation.
5. The application
for investment guideline approval includes:
a) The Government’s application form;
b) The dossier mentioned in Clause 1 of this
Article;
c) The State appraisal council’s appraisal report;
d) Other relevant documents.
6. Contents of
validation of the request for investment guideline approval include:
a) Fulfillment of the criteria for determining that
the investment project is subject to approval for its investment guidelines by
the National Assembly;
b) Necessity of executing the investment project;
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d) Objectives, scale, location, duration, execution
schedule of the investment project, demand for land use, land clearance and
relocation plan, options to select primary technologies, and solutions for
environmental protection;
dd) Capital investment and capital sources;
e) Assessment of socio-economic efficiency,
national defense, security assurance and sustainable development of the
investment project;
g) Special policies and mechanisms; investment
incentives, investment assistance and conditions for application thereof (if
any).
7. The Government
and relevant organizations or individuals shall provide sufficient information
and documents serving validation; provide explanation for the project contents
at the request of the National Assembly’s agency in charge of validation.
8. The National
Assembly shall consider passing a Resolution on approval for investment
guidelines, which consists of the contents prescribed in Clause 1 Article 3 of
this Law.
9. The Government
shall elaborate on the procedures for appraisal by the State Appraisal Council.
Article 35. Procedures for investment guideline
approval by the Prime Minister
1. The application
specified in Clauses 1 and 2 Article 33 of this Law shall be submitted to the
Ministry of Planning and Investment.
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3. Within 15 days
from receipt of the written request for opinions, the requested agencies shall
send their appraisal opinions on the contents under their management to the
Ministry of Planning and Investment.
4. Within 40 days
from the receipt of the application, the Ministry of Planning and Investment
shall appraise it and prepare an appraisal report including the contents
specified in Article 33 of this Law, and then submit it to the Prime Minister
for investment guidelines approval.
5. The Prime
Minister shall consider granting investment guideline approval comprising the
contents set out in Clause 1 Article 3 of this Law.
6. Regarding the
investment project specified in Clause 3 Article 31 of this Law, the Prime
Minister shall appoint an investment registration authority of a province or
central-affiliated city to issue an investment registration certificate to the
entire project.
7. The Government
shall elaborate procedures for appraising the investment projects whose
investment guidelines are approved by the Prime Minister.
Article 36. Procedures for investment guideline
approval by provincial People’s Committees
1. The application
specified in Clauses 1 and 2 Article 33 of this Law shall be submitted to the
investment registration authority.
Within 35 days from the receipt of the application,
the investment registration authority shall notify results to the investor.
2. Within 03
working days from the date on which the sufficient application is received, the
investment registration authority shall send relevant documents to relevant
regulatory agencies to seek their opinions about the contents specified in
Article 33 of this Law.
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4. Within 25 days
from the receipt of the application, the investment registration authority
shall prepare an appraisal report with the contents prescribed in Article 33 of
this Law and submit it to the provincial People's Committee.
5. Within 07
working days from the receipt of the application and the appraisal report, the
provincial People’s Committee shall grant the investment guideline approval, or
provide a written explanation in the case of refusal.
6. The provincial
People’s Committee shall consider granting investment guideline approval
comprising the contents set out in Clause 1 Article 3 of this Law.
Section 3. PROCEDURES FOR ISSUANCE, ADJUSTMENT
AND REVOCATION OF INVESTMENT REGISTRATION CERTIFICATE
Article 37. Cases in which the investment
registration certificate is required
1. The investment
registration certificate is required in the following cases:
a) Investment projects of foreign investors;
b) Investment projects of the business
organizations mentioned in Clause 1 Article 23 of this Law.
2. Cases in which
the investment registration certificate is not required:
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b) Investment projects of the business
organizations mentioned in Clause 2 Article 23 of this Law;
c) Investment in the form of capital contribution,
purchase of shares or stakes in a business organization.
3. Domestic
investors and the business organizations mentioned in Clause 2 Article 23 of
this Law shall execute the investment projects mentioned in Article 30, Article
31 and Article 32 of this Law after their investment guidelines are approved.
4. Any investor
that wishes to obtain an investment registration certificate for an investment
project prescribed in Point a or Point b Clause 2 of this Article shall follow
the procedures in Article 38 of this Law.
Article 38. Procedures for issuance of the investment
registration certificate
1. If the
investment project is subject to approval for its investment guidelines as
prescribed in Article 30, Article 31 and Article 32 of this Law, the investment
registration authority shall issue the investment registration certificate to
the investor within:
a) 05 working days from the receipt of the written
approval for investment guidelines and the written approval for investor with
respect to the investment project that is subject to issuance of an investment
registration certificate;
b) 15 days from the receipt of the investor’s
application for investment registration certificate with respect to the
investment project other than that specified in Point a of this Clause.
2. If the
investment project is not subject to approval for its investment guidelines as
prescribed in Article 30, Article 31 and Article 32 of this Law, the investor
shall be issued with the investment registration certificate if the following
conditions are met:
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b) Necessity of executing the investment project;
c) The investment project is conformable with the
planning specified in Point a Clause 3 Article 33 of this Law;
d) The investment per m2 (or investment
per employee) is not smaller than the minimum requirement;
dd) Market access conditions applied to foreign
investors are satisfied.
3. The Government
shall elaborate conditions, applications and procedures for issuance of the
investment registration certificate.
Article 39. The power to issue, adjust and
revoke investment registration certificates
1. Management
boards of industrial parks, export-processing zones, hi-tech zones and economic
zone shall issue, adjust and revoke investment registration certificates with
regard to the investment projects located therein, except for the case
specified in Clause 3 of this Article.
2. Provincial
Departments of Planning and Investment shall issue, adjust and revoke
investment registration certificates with respect to the investment projects
outside industrial parks, export-processing zones, hi-tech zones and economic
zones, except for the case in Clause 3 of this Article.
3. The investment
registration authority of the administrative division where the investor
executes the investment project, places or intends to place the head office or
operating office to execute the investment project shall issue, adjust and
revoke investment registration certificates with respect to the following
investment projects:
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b) Investment projects that are executed both
inside and outside industrial parks, export processing zones, hi-tech zones and
economic zones;
c) Investment projects which are executed inside
industrial parks, export processing zones, hi-tech zones or economic zones
where the industrial park, export processing zone, hi-tech zone or economic
zone management boards have not yet been established or which are not under the
management of the industrial park, export processing zone, hi-tech zone or
economic zone management boards.
4. The authority
that receives investment project dossiers is the one that has the power to
issue investment registration certificates, except for the cases specified in
Articles 34 and 35 of this Law.
Article 40. Contents of investment registration
certificate
1. Name of the
investment project.
2. The investor.
3. Investment
project code.
4. Location and
land area of the investment project.
5. Objectives and
scale of the project.
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7. Duration of the
investment project.
8. Project
execution schedule, including:
a) Capital contribution and capital raising
schedule;
b) Schedule of achievement of primary operational
objectives of the investment project; execution schedule of each stage (if the
project is divided into multiple stages);
9. Investment
incentives or investment assistance, and bases or conditions for application
thereof (if any).
10. Conditions
applied to the investor executing the investment project (if any).
Article 41. Adjusting the investment project
1. During
execution of an investment project, the investor is entitled to adjust its
objectives, transfer the project in part or in full, merge projects or fully
divide or partially divide a project into multiple projects or exercise the
rights to use land and property on land which is part of the investment project
to contribute capital to establish an enterprise, carry out business cooperation
or carry out other activities, and the aforementioned activities shall comply
with regulations of law.
2. The investor
shall follow procedures for adjusting the investment registration certificate
if the adjustment to the investment project changes any content of the
investment registration certificate.
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a) Any objective specified in the written approval
for investment guidelines is changed; any objective that is subject to approval
for investment guidelines is added;
b) The land area is increased or reduced by 10% or
more than 30 hectares or the investment location is changed;
c) The total investment capital is increased or
reduced by 20% or more, thereby changing the scale of the investment project;
d) Extension of the project execution schedule
results in total duration of the project being extended by more than 12 months
compared to that stated in the first written approval for investment
guidelines;
dd) The duration of the investment project is
adjusted;
e) Any technology that has been appraised or about
which opinions have been collected during the process of approving the
investment guidelines is changed;
g) There is a change of the investor in the
investment project whose investment guidelines are approved together with
approval for the investor before the exploitation or operation of the project
or there is a change of conditions (if any) applicable to the investor.
4. With respect to
the investment project whose investment guidelines are approved, the investor
is not allowed to extend the investment execution schedule by more than 24
months compared to that stated in the first written approval for investment
guidelines, except for one of the following cases:
a) It is necessary to remedy the consequences of an
event of force majeure in accordance with the civil law and the land law;
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c) The project execution schedule is adjusted at
the request of a regulatory agency or the regulatory agency delays in
performing administrative procedures;
d) The investment project is adjusted because the
regulatory agency changes the planning;
dd) Any objective specified in the written approval
for investment guidelines is changed; any objective that is subject to approval
for investment guidelines is added;
e) The total investment capital is increased or
reduced by 20% or more, thereby changing the scale of the investment project.
5. The regulatory
agency that has the power to approve investment guidelines also has the power
to approve the adjustment to investment guidelines.
If a request for adjustment of an investment
project results in the project being subject to approval for its investment
guidelines by an authority at a higher level, such authority will have the
power to approve the adjustment to investment guidelines as prescribed in this
Article.
6. Procedures for
adjusting investment guidelines are specified in Articles 34, 35 and 36 of this
Law.
7. If a request
for adjustment of an investment project results in the project being subject to
approval for its investment guidelines, the investor has to apply for approval
for investment guidelines before adjusting the investment project.
8. The Government
shall elaborate this Article.
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Article 42. Rules for execution of investment
projects
1. For a project
subject to approval for its investment guidelines, the approval for investment
guidelines shall be granted before the investor executes the investment project.
2. For a project
subject to issuance of an investment registration certificate, the investor
shall follow the procedures for issuance of the investment registration
certificate before executing the investment project.
3. Investors shall
comply with regulations of this Law and the laws on planning, land,
environment, construction, labor and fire prevention and fighting; other
relevant regulations of law, written approval for investment guidelines (if
any) and the investment registration certificate (if any) during execution of
their investment projects.
Article 43. Guarantee for execution of
investment projects
1. The investor
shall pay a deposit or have a bank guarantee for investment project execution
if the project uses land allocated or leased out by the State or is permitted
by the State to repurpose land, except for the following cases:
a) The investor is the successful bidder for the
right to use a land area that is allocated by the State for land levy or leased
out by the State for a lump-sum rent;
b) The investor wins bidding for execution of an
investment project using land;
c) The State allocates or leases out land to the
investor on the basis of receipt of an investment project for which a deposit
has already been paid or for which the capital has been fully contributed or
raised following the schedule specified in the written approval for investment
guidelines or the investment registration certificate;
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2. Based on the
scale, nature and execution schedule of each investment project, the deposit
for assurance of project execution is 01% - 03% of the investment capital of
the project. If a project comprises multiple
investment phases, the amount of deposit shall be paid and returned in each
phase of execution of the investment project, except for the case in which the
deposit is not returned.
3. The Government
shall elaborate this Article.
Article 44. Duration of investment projects
1. The duration of
an investment project inside an economic zone shall not exceed 70 years.
2. The duration of
an investment project outside an economic zone shall not exceed 50 years. The duration of an investment project in a
disadvantaged area or extremely disadvantaged area or a project with large
investment capital but with slow rate of capital recovery may be longer but
shall not exceed 70 years.
3. If an
investment project uses land allocated or leased out by the State, but the
transfer of land is delayed, the delay shall not be included in the project
duration or execution schedule.
4. Upon expiry of
the duration of an investment project, if the investor wishes to keep executing
the investment project and satisfies the conditions as prescribed by law, the
duration of the investment project may be extended but shall not exceed the
maximum prescribed in Clauses 1 and 2 of this Article, except for the following
investment projects:
a) Investment projects using obsolete, environment
threatening or resource-intensive technologies;
b) Investment projects in which the investor must
transfer assets without reimbursement to the State of Vietnam or the Vietnamese
side.
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Article 45. Determination of value of investment
capital; assessment of value of investment capital; assessment of machinery,
equipment and technological lines
1. Every investor
shall ensure the quality of machinery, equipment and technological lines for
execution of investment projects in accordance with regulations of law.
2. The investor
shall self-determine the value of the investment capital of the investment
project after the project is put into operation.
3. Where
necessary, to ensure state management of science and technology or to form a
basis for tax calculation, the competent authority has the power to require
independent assessment of the value of the investment capital, quality and
value of machinery, equipment and technological lines after the investment
project is put into operation.
4. The investor
must bear any expenses for assessment if the assessment results lead to an
increase in the tax obligations discharged to the State.
5. The Government
shall elaborate this Article.
Article 46. Transfer of investment projects
1. An investor is
entitled to transfer part or whole of the investment project to another
investor when the following conditions are satisfied:
a) The investment project or the part of the investment
project which is transferred has not been terminated in accordance with Clauses
1 and 2 Article 48 of this Law;
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c) The conditions set forth in the law on land are
complied with if the transfer of an investment project is associated with
transfer of the land use rights/assets on land;
d) The conditions set forth in the laws on
residential housing and on real estate business are complied with in the case
of transfer of a residential housing construction project or real estate
project;
dd) The conditions set forth in the written
approval for investment guidelines or the investment registration certificate
or in relevant laws (if any) are complied with;
e) Upon transfer of an investment project, in
addition to compliance with this Article, the state-owned enterprise shall
comply with the Law on Management and Use of State Capital Invested in
Manufacturing and Business Activities of Enterprises before making any
adjustment to the investment project.
2. If the
conditions for transfer set forth in Clause 1 of this Article are satisfied,
the investor shall follow the procedures for transferring the investment
project in part or in full as follows:
a) In the case of an investment project in which
the investor has been approved in accordance with Article 29 of this Law and
the investment project has been issued with an investment registration
certificate, the investor shall follow procedures for adjusting the investment
project as prescribed in Article 41 of this Law;
b) For an investment project other than that
prescribed in Point a of this Clause, the transfer of the investment project or
transfer of asset ownership to the investor receiving the investment project
shall be carried out in accordance with the civil law, the law on enterprises,
the law on real estate business and other regulations of law.
Article 47. Suspension of investment projects
1. When suspending
an investment project, the investor must notify the investment registration
authority in writing. If the project has to be
suspended in a force majeure event, the State shall allow the investor to be
exempt from paying land rents or reduce land levies for the suspension period
with a view to remedying consequences caused by the force majeure event.
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a) To protect sites/monuments, relics, antiques or
national treasures in accordance with the Law on Cultural Heritage;
b) To rectify a violation of the law on
environmental protection at the request of the environment authority;
c) To take measures to ensure occupational safety
at the request of the labor authority;
d) Pursuant to a judgment or decision of a court or
an arbitral award;
dd) The investor fails to adhere to the written
approval for investment guidelines or the investment registration certificate
and recommits administrative violations after incurring penalties.
3. The Prime
Minister shall decide to suspend a project in part or in full if the project
execution is detrimental or potentially detrimental to national defense and
security at the request of the Ministry of Planning and Investment.
4. The Government
shall elaborate conditions, procedures and time limit for suspending investment
projects in accordance with this Article.
Article 48. Termination of investment projects
1. An investor
shall terminate their investment activities and/or investment project in the
following cases:
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b) The project has to be terminated according to
the conditions set out in the contract or charter of the enterprise;
c) The project duration is over.
2. The investment
registration authority shall terminate an investment project in part or in full
in the following cases:
a) The investor fails to overcome the difficulties
that lead to project suspension in the cases mentioned in Clause 2 and Clause 3
Article 47 of this Law;
b) The investor is no longer permitted to keep
using the investment location and fails to complete the procedures for change
of investment location within 06 months from the date on which the investor is
no longer permitted to use the investment location, except for the case
specified in Point d of this Clause;
c) The investment registration authority cannot
contact the investor or the investor’s legal representative after 12 months
from the date of suspension of the project;
d) Land reserved for the investment project is
expropriated by the State for the reason that the land is not used or the land
use is delayed in accordance with regulations of law on land;
dd) The investor fails to pay the deposit or obtain
a bank guarantee as prescribed by law if project execution security is
required;
e) The investor conducted the investment activities
on the basis of a sham civil transaction in accordance with the civil law;
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3. Regarding a
project subject to approval for its investment guidelines, the investment
registration authority shall terminate the investment project after obtaining
the opinion of the authority granting approval for investment guidelines.
4. The investor
shall themself liquidate the investment project in accordance with the law on
liquidation of assets upon termination of the investment project, except for
the case specified in Clause 5 of this Article.
5. The settlement
of the rights to use land and property on land upon termination of the
investment project shall comply with the law on land and other relevant
regulations of law.
6. The investment
registration authority shall decide to revoke the investment registration
certificate if the investment project is terminated in accordance with Clause 2
of this Article, except for the case of termination of part of the investment
project.
7. The Government
shall elaborate procedures for terminating investment projects in accordance
with this Article.
Article 49. Establishment of operating office of
foreign investor to business cooperation contract
1. A foreign
investor to a business cooperation contract may establish an operating office
in Vietnam to execute the contract. The
location of the operating office shall be decided by the foreign investor
depending on the requirements for contract execution.
2. The operating
office of a foreign investor to a business cooperation contract has its own
seal; the foreign investor may open an account, hire employees, sign contracts
and carry out business activities under the business cooperation contract and
Certificate of registration of operating office.
3. The foreign
investor to the business cooperation contract shall submit the application for
registration of operating office to the investment registration authority of
the area where the operating office is intended to be located.
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a) An application form which specifies the name and
address of the representative office in Vietnam (if any) of the foreign
investor to the business cooperation contract; name and address of the
operating office; contents, duration, and operating scope of the operating
office; full name, residence, ID Card or Citizen ID Card number or passport
number of the head of the operating office;
b) The decision of the foreign investor to the
business cooperation contract for establishment of an operating office;
c) A copy of the decision to appoint the head of
the operating office;
d) A copy of the business cooperation contract.
5. Within 15 days
from the receipt of the application prescribed in Clause 4 of this Article, the
investment registration authority shall issue the Certificate of registration
of operating office to the foreign investor to the business cooperation
contract.
Article 50. Shutdown of operating office of
foreign investor to business cooperation contract
1. Within 07
working days from the day on which the decision to shut down the operating
office is issued, the foreign investor shall send a folder to the investment
registration authority of the area where the operating office is located.
2. The folder
consists of:
a) A decision to shut down the operating office in
the case of shutdown of the operating office ahead of schedule;
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c) A list of employees and their benefits provided;
d) A tax authority’s certification of fulfillment
of tax liability;
dd) A social security authority’s certification of
fulfillment of social insurance obligations;
e) The certificate of operating office
registration;
g) A copy of the investment registration
certificate;
h) A copy of the business cooperation contract.
3. Within 15 days
from the receipt of the application prescribed in Clause 2 of this Article, the
investment registration authority shall issue the decision to shut down the
operating office.
Chapter V
OUTWARD INVESTMENT ACTIVITIES
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Article 51. Rules for carrying out outward
investment activities
1. The State
encourages outward investment in order to exploit, develop and expand the
market; improve the export of goods and services, earn foreign currencies; access
modern technologies, raise the managerial capability and develop resources for
socio-economic development.
2. Investors
carrying out outward investment activities shall comply with this Law, other
relevant regulations of law, laws of the countries or territories that receive
investment (hereinafter referred to as “host countries”) and relevant
international treaties, and themselves take responsibility for the efficiency
in outward investment activities.
Article 52. Forms of investment assistance
1. Investors shall
carry out outward investment activities in the following forms:
a) Establishment of a business organization in
accordance with the law of the host country;
b) Making investment on the basis of an overseas
contract;
c) Contribution of capital to, purchase of shares
or stakes of an overseas business organization to participate in management of
such business organization;
d) Trading in securities, other financial
instruments, or making investment via securities investment funds and other
intermediary financial institutions in a foreign country;
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2. The Government
shall elaborate the forms of investment mentioned in Point d Clause 1 of this
Article.
Article 53. Business lines banned from outward
investment
1. Business lines
specified in Article 6 of this Law and relevant international treaties.
2. Business lines
with technologies and products banned from export in accordance with the law on
foreign trade management.
3. Business lines
banned from business investment in accordance with regulations of laws of the
host countries.
Article 54. Business lines subject to
conditional outward investment
1. Business lines
subject to conditional outward investment include:
a) Banking;
b) Insurance;
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d) Press, radio and television;
dd) Real estate business.
2. The conditions
for making outward investment in the business lines mentioned in Clause 1 of
this Article are specified in the Laws and Resolutions of the National
Assembly, Ordinances and Resolutions of the Standing Committee of the National
Assembly, Decrees of the Government and international investment-related
treaties to which the Socialist Republic of Vietnam is a signatory.
Article 55. Sources of capital for outward investment
1. Investors shall
contribute capital and raise capital to carry out outward investment
activities.
2. Borrowing
foreign currency loans and transferring foreign currency investment capital
must comply with the conditions and procedures prescribed in the laws on
banking, credit institutions and foreign exchange management.
3. According to
objectives of monetary policies and foreign currency management policies in
each period, the State Bank of Vietnam shall promulgate regulations on grant of
foreign currency loans by credit institutions and branches of foreign banks in
Vietnam to investors as prescribed in Clause 2 of this Article to carry out
outward investment activities.
Section 2. PROCEDURES FOR GRANTING APPROVAL FOR
OUTWARD INVESTMENT GUIDELINES AND MAKING OUTWARD INVESTMENT DECISIONS
Article 56. The power to approve outward
investment guidelines
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a) Investment projects with outward investment
capital of VND 20,000 billion or more;
b) Investment projects that require application of
a special mechanism or policy that needs to be decided by the National
Assembly.
2. Except for the
investment projects mentioned in Clause 1 of this Article, the Prime Minister
shall grant approval for outward investment guidelines of the following
investment projects:
a) Investment projects in the banking, insurance,
securities, press, radio, television and telecommunications fields with outward
investment capital of VND 400 billion or more;
b) Investment projects other than those mentioned
in Point a of this Clause with outward investment capital of VND 800 billion or
more.
3. Investment
projects not mentioned in Clauses 1 and 2 of this article are not subject
outward investment guideline approval.
Article 57. Dossiers and procedures for outward
investment guideline approval by the National Assembly
1. The investor
shall submit an outward investment project dossier to the Ministry of Planning
and Investment. The application consists of:
a) An outward investment registration form;
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c) A proposal for the investment project containing
at least: form, objectives, scale, and investment location; preliminary determination
of investment capital, capital raising plan and structure of capital sources;
project execution schedule, investment phases (if any); preliminary analysis of
the efficiency of the project;
d) Document(s) proving the financial capacity of
the investor including at least one of the following documents: the investor’s
financial statements for the last two years of the investor; a parent company’s
commitment to provide financial support; a financial institution’s commitment
to provide financial support; guarantee for the investor’s financial capacity;
other document proving the investor’s financial capacity;
dd) A commitment to themself balance sources of
foreign currency or a commitment of an authorized credit institution to provide
foreign currency for the investor;
e) A document issued by the ownership
representative agency which approves the investor to carry out outward
investment activities, and report on internal appraisal of the outward
investment proposal of the state-owned enterprise as prescribed in Clause 1
Article 59 of this Law or decision on outward investment as prescribed in
Clause 2 Article 59 of this Law;
g) With regard to an outward investment project in
the business lines specified in Clause 1 Article 54 of this Law, the investor
shall submit a written certification of the investor’s fulfillment of
conditions for outward investment issued by a competent authority in accordance
with the relevant regulations of law (if any).
2. Within 05
working days from the date on which the sufficient dossier is received, the
Ministry of Planning and Investment shall submit it to the Prime Minister for
establishment of a State Appraisal Council.
3. Within 90 days
from the date of its establishment, the State Appraisal Council shall organize
appraisal and prepare an appraisal report for submission to the Government. An appraisal report shall contain:
a) Conditions for issuance of an outward investment
registration certificate prescribed in Article 60 of this Law;
b) Legal status of the investor;
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d) Conformity of the investment project with Clause
1 Article 51 of this Law;
dd) Form, scale, location and execution schedule of
the investment project, outward investment capital and sources of capital;
e) Assessment of level of risks in the host
country.
4. At least 60
days before the opening of the meeting of the National Assembly, the Government
shall prepare an application for outward investment guideline approval and
submit it to the National Assembly’s agency presiding over validation.
5. An application
for outward investment guideline approval includes:
a) The Government’s application form;
b) The dossier mentioned in Clause 1 of this
Article;
c) The State appraisal council’s appraisal report;
d) Other relevant documents.
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a) Fulfillment of the criteria for determining that
the investment project is subject to approval for its investment guidelines by
the National Assembly;
b) Necessity of conducting outward investment
activities;
c) Conformity of the investment project with Clause
1 Article 51 of this Law;
d) Form, scale, location and execution schedule of
the investment project, outward investment capital and sources of capital;
dd) Assessment of level of risks in the host
country;
e) Special policies and mechanisms; investment
incentives, investment assistance and conditions for application thereof (if
any).
7. The Government
and relevant organizations or individuals shall provide sufficient information
and documents serving validation; provide explanation for the project contents
at the request of the National Assembly’s agency in charge of validation.
8. The National
Assembly shall consider passing a resolution on the outward investment
guideline approval containing the following contents:
a) The investor executing the project;
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c) Outward investment capital, and sources of such
capital;
d) Special policies and mechanisms; investment
incentives, investment assistance and conditions for application thereof (if
any).
9. The Government
shall elaborate on the conditions and procedures for appraisal of outward
investment project dossiers by the State Appraisal Council.
Article 58. Dossiers and procedures for outward
investment guideline approval by the Prime Minister
1. Investment
project dossiers shall be prepared as prescribed in Clause 1 Article 57 of this
Law.
2. The investor
shall submit an outward investment project dossier to the Ministry of Planning
and Investment. Within 03 working days from
the date on which the sufficient dossier is received, the Ministry of Planning
and Investment shall send relevant documents to relevant regulatory agencies to
seek their opinions.
3. Within 15 days
from receipt of the written request for opinions, the requested agencies shall
give their written opinions about the contents under their management.
4. Within 30 days
from the date on which the application is received, the Ministry of Planning
and Investment shall organize appraisal and prepare an appraisal report for
submission to the Prime Minister. The
appraisal report includes the contents specified in Clause 3 Article 57 of this
Law.
5. The Prime
Minister shall consider granting outward investment guideline approval
comprising the contents set out in Clause 8 Article 57 of this Law.
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1. A decision on
outward investment by a state-owned enterprise shall be made in accordance with
the law on management and use of state capital invested in manufacturing and
business activities of enterprises and other relevant regulations of law.
2. Outward
investment activities not mentioned in Clause 1 of this Article shall be
decided by investors in accordance with the Law on Enterprises.
3. Investors and
authorities making decisions on the outward investment as prescribed in Clauses
1 and 2 of this Article shall take responsibility for their decisions on
outward investment.
Section 3. PROCEDURES FOR ISSUANCE, ADJUSTMENT
AND INVALIDATION OF OUTWARD INVESTMENT REGISTRATION CERTIFICATE
Article 60. Conditions for issuance of outward
investment registration certificate
1. Outward
investment activities shall adhere to the rules prescribed in Article 51 of
this Law.
2. Outward
investment activities do not involve any business line banned from outward
investment as prescribed in Article 53 of this Law and conditions for outward
investment applicable to business lines subject to conditional outward
investment as prescribed in Article 54 of this Law are satisfied.
3. The investor
makes a commitment to prepare foreign currencies themself or obtains a
commitment to prepare foreign currencies from an authorized credit institution for
the purposes of conducting outward investment activities.
4. There is an
outward investment decision as prescribed in Article 59 of this Law.
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Article 61. Procedures for issuance of outward
investment registration certificate
1. If the
investment project is subject to approval for its outward investment
guidelines, the Ministry of Planning and Investment shall issue the outward
investment registration certificate to the investor within 05 working days from
receipt of the written approval for investment guidelines and the outward
investment decision prescribed in Article 59 of this Law.
2. Regarding the
investment project not mentioned in Clause 1 of this article, the investor
shall submit an application for issuance of an outward investment registration
certificate to the Ministry of Planning and Investment.
The application consists of:
a) An outward investment registration form;
b) A document about the investor’s legal status;
c) The outward investment decision prescribed in
Article 59 of this Law;
d) A commitment to balance foreign currency sources
or a commitment of an authorized credit institution to provide foreign
currencies for the investor prescribed in Clause 3 Article 60 of this Law;
dd) With regard to an outward investment project in
the business lines specified in Clause 1 Article 54 of this Law, the investor
shall submit a certification of the investor’s fulfillment of conditions for
outward investment issued by a competent authority in accordance with the
relevant regulations of law (if any).
3. In case the
amount of foreign currency capital transferred abroad is VND 20 billion or
more, the Ministry of Planning and Investment shall request the State Bank of
Vietnam to provide opinions in writing.
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5. The Government
shall elaborate procedures for appraising outward investment projects; issue,
adjust and invalidate outward investment registration certificates.
Article 62. Contents of outward investment
registration certificate
1. Investment
project code.
2. The investor.
3. Name of the
investment project and name of the foreign business organization (if any).
4. Investment
objectives and location.
5. Investment
form, investment capital and sources of such capital, investment capital form,
outward investment schedule.
6. Rights and
obligations of the investor.
7. Investment
incentives and assistance (if any).
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1. An investor
shall follow procedures for adjusting the outward investment registration
certificate in the following cases:
a) Change of the Vietnamese investor;
b) Change of the investment form;
c) Change of outward investment capital; sources of
investment capital and form of such capital;
d) Change of investment location with respect to
the investment project requiring an investment location;
dd) Change of main objective of the outward
investment activity;
e) Use of profit derived from outward investment
according to Points a and b Clause 1 Article 67 of this Law.
2. The investor
must update changes other than those prescribed in Clause 1 of this Article on
the National Investment Information System.
3. An application
for adjustment of the outward investment registration certificate includes:
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b) A document about the investor’s legal status;
c) A report on operation of the investment project
up to the date of submission of the application for adjustment of the outward
investment registration certificate;
d) A decision on adjustment to the outward
investment activity pursuant to Article 59 of this Law or the documents
prescribed in Point e Clause 1 Article 57 of this Law;
dd) A copy of the outward investment registration
certificate;
e) The tax authority’s certification of the
investor’s fulfillment of the tax payment obligation in case of increasing the
outward investment capital. Such certification
must be issued by the tax authority within the last 03 months.
4. The Ministry of
Planning and Investment shall adjust the outward investment registration
certificate within 15 days from receipt of the application specified in Clause
3 of this Article.
5. If the
investment project is subject to approval for its outward investment
guidelines, the Ministry of Planning and Investment shall follow procedures for
approving the adjustment to the outward investment guidelines before adjusting
the outward investment registration certificate as prescribed in Clause 1 of
this Article and Clause 8 Article 57 of this Law.
6. If the
adjustment to the outward investment registration certificate results in the
investment project being subject to approval for its outward investment
guidelines, the investor has to apply for approval for outward investment
guidelines before adjusting the outward investment registration certificate.
7. The agency or
person that has the power to approve outward investment guidelines also has the
power to approve the adjustment to outward investment guidelines. The agency or person that has the power to make the
outward investment decision also has power to make a decision on adjustment to
contents of the outward investment decision.
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Article 64. Invalidation of outward investment
registration certificate
1. The outward
investment registration certificate shall be invalidated in the following cases:
a) The investor decides to terminate the project;
b) The investment project duration is over in
accordance with regulations of law of the host country;
c) The investment project has to be terminated
according to the conditions set out in the contract or charter of the
enterprise;
d) The investor transfers all outward investment
capital to a foreign investor;
dd) The investor fails to execute or is unable to
execute the investment project in line with the schedule registered with the
regulatory agency within 24 months from the date of issuance of the outward
investment registration certificate and fails to follow the procedures for
adjusting the execution schedule of the investment project;
e) The foreign business organization is dissolved
or goes bankrupt in accordance with the law of the host country;
g) Pursuant to a judgment or decision of a court or
an arbitral award;
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3. The Ministry of
Planning and Investment shall invalidate outward investment registration
certificates.
Section 4. CONDUCT OF OUTWARD INVESTMENT
ACTIVITIES
Article 65. Opening of outward investment
capital accounts
1. Investors shall
open an outward investment capital account at an authorized credit institution
in Vietnam in accordance with regulations of law on foreign exchange
management.
2. Transfer of money
from and to Vietnam pertaining to outward investment activities must be made
via the investment capital account specified in Clause 1 of this Article in
accordance with regulations of law on foreign exchange management.
Article 66. Transfer of investment capital
overseas
1. An investor is
allowed to transfer investment capital overseas in order to conduct investment
activities if the following conditions are met:
a) The outward investment registration certificate
has been granted, except for the case prescribed in Clause 3 of this Article;
b) The investment activities have been approved or
licensed by a competent authority of the host country.
If the host country’s law does not cover investment licensing or
approval, the investor must provide documents proving their right to carry out
investment activities in that country;
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2. The transfer of
investment capital overseas must comply with regulations of law on foreign
exchange management, export and technology transfer and relevant regulations of
law.
3. Investors are
entitled to transfer foreign currencies, goods, machinery and equipment
overseas to serve market survey, research and market exploration and to carry
out investment preparatory activities as prescribed by the Government.
Article 67. Use of profit overseas
1. The investor is
entitled to retain profit derived from outward investment for reinvestment in
the following cases:
a) Continuing to contribute outward investment
capital if capital has not yet been fully contributed as registered;
b) Increasing outward investment capital;
c) Executing a new investment project overseas.
2. Investors shall
follow the procedures for adjusting the outward investment registration
certificate as prescribed in Article 63 of this Law in the cases specified in
Points a and b Clause 1 of this Article; and follow the procedures for issuance
of the outward investment registration certificate as prescribed in Article 61
of this Law in the case specified in Point c Clause 1 of this Article.
Article 68. Repatriation of profit
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2. If the profit
and other incomes are not repatriated within the time limit prescribed in
Clause 1 of this Article, the investor shall send a written notification to the
Ministry of Planning and Investment and the State Bank of Vietnam. The time limit for repatriation of profit may be
extended by no more than 12 months from the expiry of the time limit specified
in Clause 1 of this Article.
3. If the
investor, within the time limit specified in Clause 1 of this Article, has
failed to repatriate profit or send the notification or if the investor, within
the extended time limit specified in Clause 2 of this Article, has failed to
repatriate profit, such investor shall incur penalties in accordance with
regulations of law.
Chapter VI
STATE MANAGEMENT OF INVESTMENT
Article 69. Responsibility for state management
of investment
1. The Government
shall perform uniform state management of investment in Vietnam and outward
investment.
2. The Ministry of
Planning and Investment shall assist the Government in performing uniform state
management of investment in Vietnam and outward investment, and has the
following tasks and rights:
a) Request the Government and the Prime Minister to
consider approving strategies, plans and policies for investment in Vietnam and
outward investment;
b) Promulgate or request competent authorities to
promulgate legislative documents on investment in Vietnam and outward
investment;
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d) Provide instructions, disseminate, organize,
supervise, inspect and assess the implementation of legislative documents on
investment;
dd) Formulate and submit to competent authorities
mechanisms for resolving difficulties facing investors and for preventing
disputes between the State and investors;
e) Assess and report developments of investment in
Vietnam and outward investment;
g) Build, manage and operate the National
Investment Information System and national investment database;
h) Issue, adjust and invalidate outward investment
registration certificates;
i) Perform state management of industrial parks,
export-processing zones and economic zones;
k) Perform state management of investment promotion
and coordinate investment promotion activities in Vietnam and overseas;
l) Inspect, supervise and assess investment
activities, manage and cooperate in managing investment activities within its
power;
m) Negotiate and conclude international
investment-related treaties within its power;
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3. Ministries,
ministerial agencies shall, within their jurisdiction, cooperate with the
Ministry of Planning and Investment in performing the task of state management
of investment in Vietnam and outward investment. To be specific:
a) Cooperate with the Ministry of Planning and
Investment, Ministries and ministerial agencies in formulating laws and
policies on investment;
b) Preside over and cooperate with other Ministries
and ministerial agencies in formulating laws, policies, standards, technical
regulations and instructions;
c) Request the Government to promulgate conditions
for making business investment in the business lines mentioned in Article 7 of
this Law;
d) Preside over and cooperate with the Ministry of
Planning and Investment in formulating planning and plans, and compiling a list
of its projects attracting investment; organize campaigns and specialized
investment promotion;
dd) Participate in appraisal of projects subject to
approval for their investment guidelines as prescribed in this Law and take
responsibility for the contents of the appraisal within their jurisdiction;
e) Carry out supervision, assessment, and
specialized inspection of the fulfillment of investment conditions and state
management of investment projects within their power;
g) Preside over and cooperate with People’s
Committees of provinces, other Ministries and ministerial agencies in resolving
difficulties of investment projects in state management; provide guidance on
distribution of powers and authorize management boards of industrial parks,
export-processing zones, hi-tech zones, and economic zones to perform state
management tasks therein;
h) Carry out periodic assessment of socio -
economic effects of investment projects under their management and send reports
thereon to the Ministry of Planning and Investment;
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4. Provincial
People’s Committees and investment registration authorities shall, within their
jurisdiction, perform the task of state management of investment in Vietnam and
outward investment. To be specific:
a) Cooperate with Ministries and ministerial
agencies in compiling and issuing Lists of local projects attracting
investment;
b) Preside over or participate in appraisal of
projects subject to approval for their investment guidelines as prescribed in
this Law and take responsibility for the contents of the appraisal within their
jurisdiction; preside over following procedures for issuance, adjustment and
revocation of investment registration certificates;
c) Exercise the function of state management of
investment projects within their provinces;
d) Resolve or request competent authorities to
resolve difficulties faced by investors;
dd) Carry out periodic assessments of efficiency of
investment activities and submit reports thereon to the Ministry of Planning
and Investment;
e) Provide relevant information to establish a
national investment database; maintain and update the National Investment
Information System;
g) Provide instructions on organization,
supervision and assessment of implementation of investment reporting regulations.
5. Vietnam’s
overseas representative missions shall monitor and support investment
activities, and protect the lawful rights and interests of Vietnamese investors
in the host countries.
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1. Supervision and
assessment of investment activities include:
a) Supervision and assessment of investment
projects;
b) Overall investment supervision and assessment.
2. Responsibility
for investment supervision and assessment:
a) Investment authorities and specialized
authorities conduct overall investment supervision and assessment and
supervision and assessment of investment projects under their management;
b) Investment registration authorities shall
supervise and assess the investment projects to which they grant investment
registration certificates;
3. Contents of
supervision and assessment of investment projects:
a) With regard to investment projects funded by
state capital, investment authorities and specialized authorities shall carry
out supervision and assessment according to the contents and criteria approved
in the investment decision;
b) With respect to investment projects funded by
other sources of capital, investment authorities and specialized authorities
shall supervise and assess the objectives and conformity of the investment
projects with planning and investment guidelines approved by competent
authorities, the investment schedule, fulfillment of environmental protection
requirements, technologies, use of land and other resources as prescribed by
law;
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4. Overall
investment supervision and assessment.
a) Promulgation of legislative documents elaborating
and providing guidelines for implementation thereof; implementation of the law
on investment;
b) Progress of execution of investment projects;
c) Assessment of results of investment
implementation by the whole country, Ministries, ministerial agencies, local
authorities, and investment projects under their management;
d) Suggest investment assessment results and
solutions for resolving difficulties and actions against violations of the law
on investment to regulatory agencies at the same level and superior investment
authorities.
5. Organizations
and agencies shall carry out investment assessment themselves or hire capable
experts or consultancies to do so.
6. The Government
shall elaborate this Article.
Article 71. National Investment Information
System
1. The National
Investment Information System consists of:
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b) National information system for foreign
investment in Vietnam;
c) National information system for outward
investment from Vietnam;
d) National information system for investment
promotion;
dd) National information system for industrial
parks and economic zones.
2. The Ministry of
Planning and Investment shall preside over and cooperate with relevant agencies
in developing and operating the National Investment Information System;
establish the national investment database; assess the operation of such system
by central and local investment authorities.
3. Investment
authorities and investors shall sufficiently, promptly and accurately update
information on the National Investment Information System.
4. Information
about investment projects in the National Investment Information System is
considered original and lawful information.
Article 72. Reports on investment activities in
Vietnam
1. Reporting
entities:
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b) Investment registration authorities;
c) Investors and business organizations executing
investment projects as prescribed in this Law.
2. Periodic
reporting:
a) Investors and business organizations executing
investment projects shall submit quarterly and annual reports to investment
registration authorities and local statistical agencies on the investment
project execution, which specify: investment capital, investment results,
employees, payment to government budget, investment in R&D, environmental
protection, and other professional indicators;
b) Investment shall submit quarterly and annual
reports to the Ministry of Planning and Investment and provincial People’s
Committees on receipt of applications, issuance, adjustment and revocation of
investment registration certificates and the operation of investment projects
under their management;
c) Provincial People’s Committees shall submit
quarterly and annual consolidated reports on local investment to the Ministry
of Planning and Investment;
d) Ministries and ministerial agencies shall submit
quarterly and annual reports on issuance, adjustment and revocation of
investment registration certificates and equivalent papers (if any) under their
management; and on investment activities under their management to the Ministry
of Planning and Investment, which submit a consolidated report to the Prime
Minister;
dd) The Ministry of Planning and Investment shall
submit an annual report to the Prime Minister on investment nationwide and
adherence to regulations on investment reporting by the entities mentioned in
Clause 1 of this Article.
3. Agencies,
investors and business organizations shall make reports in writing via the National
Investment Information System.
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5. If a project is
exempt from the investment registration certificate, the investor shall submit
a report to the investment registration authority before commencement of the
project execution.
Article 73. Reporting of outward investment
activities
1. Reporting
entities:
a) Ministries and ministerial agencies shall manage
outward investment activities in accordance with regulations of law, and
agencies representing the state capital in enterprises;
b) Investors executing outward investment projects
as prescribed in this Law.
2. Regulations on
reporting applied to the entities specified in Point a Clause 1 of this
Article:
a) Such entities shall submit an annual report on
management of outward investment within their jurisdiction to the Ministry of
Planning and Investment, which will submit consolidated reports to the Prime
Minister;
b) The Ministry of Planning and Investment shall
submit an annual report on outward investment to the Prime Minister.
3. Reporting
regulations applied to investors:
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b) Investors shall submit quarterly and annual
reports on operation of their investment projects to the Ministry of Planning and
Investment, the State Bank of Vietnam, and a representative mission of Vietnam
in the host country;
c) Within 06 months from the day on which the tax
declaration or an equivalent document is available as prescribed by the host
country’s law, the investor shall submit a report on the operation of the
investment project enclosed with the financial statement, tax declaration, or
an equivalent document prescribed by the host country’s law to the Ministry of
Planning and Investment, the State Bank of Vietnam, the Ministry of Finance, a
representative mission of Vietnam in the host country, and a competent
authority prescribed in this Law and relevant regulations of law;
d) If the outward investment project is funded by
the state capital, apart from complying with the regulations in Points a, b and
c of this Clause, the investor shall make reports in accordance with
regulations of law on management and use of state capital invested in
manufacturing and business activities of enterprises.
4. The reports
mentioned in Clause 2 and Clause 3 of this Article shall be made in writing and
via the National Investment Information System.
5. The agencies
and investors in Clause 1 of this Article shall make ad hoc reports at the
request of competent authorities to meet state management requirements or
settle issues arising in relation to investment projects.
Article 74. Investment promotion activities
1. The Government
shall direct the formulation and organize the implementation of policies and
orientations for investment promotion with a view to promoting and facilitating
investment activities by sectors and regions and partners in conformity with
strategies, planning, plans and objectives for socio-economic development in
each period; and ensure implementation of inter-regional and cross-sectoral
investment promotion programs and activities in association with trade
promotion and tourism promotion.
2. The Ministry of
Planning and Investment shall formulate and organize the implementation of a
national investment promotion plan or program; coordinate inter-regional and
inter-provincial investment promotion activities; monitor, supervise and
assesses the efficiency of investment promotion nationwide.
3. Ministries,
ministerial agencies and provincial People's Committees shall, within their
jurisdiction, formulate and organize implementation of investment promotion
plans and programs in fields and areas under their management in conformity
with strategies, planning and plans for socio-economic development and the
national investment promotion program.
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5. The Government
shall elaborate this Article.
Chapter VII
IMPLEMENTATION CLAUSE[11]
Article 75. Amendments to some Articles of laws
related to business investment
1. The Law on Housing No. 65/2014/QH13 amended by
the Law No. 40/2019/QH14 is amended as follows:
a) Clause 2 of Article 21 is amended as follows:
“2. Having a capital deposit or a bank
guarantee to execute each project in accordance with the law on investment.”;
b) Point c Clause 2 of Article 22 is amended as
follows:
“c) Approving an investor in accordance with
the Law on Investment. If multiple investors
are approved, the investor shall be determined in accordance with the Law on
Construction.
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c)[12]
(repealed)
d) Clause 2 of Article 170 is amended as follows:
“2. Regarding other housing construction
projects subject to approval for their investment guidelines in accordance with
the Law on Investment, regulations of the Law on Investment shall be complied
with.”;
dd) Clause 7 of Article 175 is amended as follows:
“7. Provide professional training in
residential housing development and management; stipulate the issuance of
certificates of training in management and operation of apartment buildings;
stipulate and recognize the classification of apartment buildings.”;
e) Clause 3 Article 22 and Article 171 are
repealed.
2. The Law on Real
Estate Business No. 66/2014/QH13 is amended as follows:
a) Clause 1 of Article 10 is amended as follows:
“1. Any organization or individual engaged in
real estate business must establish an enterprise or cooperative (hereinafter
referred to as “the enterprise”), except for the cases mentioned in Clause 2 of
this Article.”;
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“Article 50. The power to allow transfer
of real estate projects in part or in full
1. In the case of
a real estate project for which the investor has been approved or to which an
investment registration certificate has been issued in accordance with the Law
on Investment, power and procedures for transfer of real estate projects in
part or in full shall comply with the Law on Investment.
2. For a real
estate project other than that mentioned in Clause 1 of this Article, the power
to allow transfer of real estate projects in part or in full is as follows:
a) People's Committees of provinces and
central-affiliated cities (hereinafter referred to as “provincial People's
Committees”) shall decide to allow transfer part or whole of real estate
projects subject to investment decision by provincial People's Committees;
b) The Prime Minister shall decide to allow
transfer of real estate projects in part or in full, for projects subject to
investment decision by the Prime Minister.”;
c) The following introductory paragraph is added
before Clause 1 of Article 51:
“Procedures for transferring part or whole of
real estate projects specified in Clause 2 Article 50 of this Law are as
follows:”.
3. 11 Some Points of
Clause 2 Article 25 of the Law on Environmental Protection No. 55/2014/QH13
amended by the Law No. 35/2018/QH14 and the Law No. 39/2019/QH14 are amended as
follows:
a) Point a Clause 2 of Article 25 is amended as
follows:
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Regarding the public investment project, the
competent authority shall depend on the preliminary environmental impact
assessment to decide policy guidelines; and depend on the environmental impact
assessment to make investment decisions for the projects prescribed in Article
18 of this Law. The Government shall elaborate
subjects and contents of preliminary environmental impact assessment;”;
b) Point dd Clause 2 of Article 25 is amended as
follows:
“dd) With respect to the projects not
mentioned in Points a, b, c and d of this Clause, the competent authority shall
depend on the preliminary environmental impact assessment to issue the
investment registration certificate, except for the case in which the investment
registration certificate is issued at the request of the investor; and the
investor is only allowed to execute the project after the environmental impact
assessment report has been approved.”.
4. The Law on
Corporate Income Tax No. 14/2008/QH12 amended by the Law No. 32/2013/QH13 and
the Law No. 71/2014/QH13 is amended as follows:
a) Clause 5a is added after Clause 5 of Article 13
as follows:
“5a. With
respect to the investment projects specified in Clause 2 Article 20 of the Law
on Investment, the Prime Minister shall decide to apply a preferential tax rate
reducing by no more than 50% the preferential tax rate specified in Clause 1 of
this Article. The duration of application of the preferential tax rate shall
not exceed 1.5 times the duration of application of the preferential tax rate
specified in Clause 1 and may be extended for no more than 15 years and must
not exceed the duration of the investment project.”;
b) Clause 1a is added after Clause 1 of Article 14
as follows:
“1a. With
respect to the investment projects specified in Clause 2 Article 20 of the Law
on Investment, the Prime Minister shall decide to apply tax exemption for no
more than 6 years and reduce 50% of the maximum tax payable for no more than
the 13 subsequent years.”;
5. The Law on the
Law on Cinematography No. 62/2006/QH11 amended by the Law No. 31/2009/QH12 and
the Law No. 35/2018/QH14 is amended as follows:
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b) The number “14” and the mark “,” immediately
after the number “14” in Article 55 are deleted.
6. Article 10 and
Point a Clause 2 Article 43 of the Law on Urban Planning No. 30/2009/QH12
amended by the Law No. 77/2015/QH13, the Law No. 35/2018/QH14 and the Law No.
40/2019/QH14 are repealed.
Article 76. Implementation clause
1. This Law comes
into force from January 01, 2021, except for the regulations in Clause 2 of
this Article.
2. The regulations
set out in Clause 3 Article 75 of this Law come into force from September 01,
2020.
3. The Law on
Investment No. 67/2014/QH14 amended by the Law No. 90/2015/QH13, the Law No.
03/2016/QH14, the Law No. 04/2017/QH14, the Law No. 28/2018/QH14 and the Law
No. 42/2019/QH14 shall cease to have effect from the effective date of this
Law, except for Article 75 of the Law on Investment No. 67/2014/QH14.
4. Individuals who
are Vietnamese citizens may use their personal identification numbers instead
of copies of their identity cards/citizen identity cards, passports or other
personal identification documents upon following administrative procedures set
out in the Law on Investment and Law on Enterprises if the national population
database is connected to the national investment and enterprise registration
database.
5. Any legislative
document that refers to regulations on project approval decisions or investment
guideline decisions in accordance with the Law on Investment shall be
implemented in accordance with the regulations on investment guideline approval
of this Law.
Article 77. Grandfather clauses
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2. Investors are
not required to follow procedures for approval for investment guidelines in
accordance with this Law with respect to the investment projects in one of the
following cases:
a) The investors obtained investment guideline
decisions, investment guideline approval or investment approval in accordance
with regulations of laws on investment, housing, urban areas and construction
before the effective date of this Law;
b) The investors have started execution of projects
that are not subject to approval for their investment guidelines, investment
guideline decision or investment guideline or issuance of the investment
registration certificate in accordance with regulations of laws on investment,
housing, urban areas and construction before the effective date of this Law;
c) Investors won the bidding for investor selection
or the land use right auction before the effective date of this Law;
d) Projects have been granted investment incentive
certificates, investment licenses, investment certificates or investment
registration certificates before the effective date of this Law.
3. If an
investment project specified in Clause 2 of this Article is adjusted and the
adjustments are subject to approval for investment guidelines in accordance
with this Law, the procedures mentioned in this Law must be followed to obtain
approval for investment guidelines or adjust investment guidelines.
4. Any investment
project executed or approved or allowed to be executed in accordance with
regulations of law before July 01, 2015 and subject to project execution
security as prescribed in this Law is not required to have a deposit or a bank
guarantee. If the investor adjusts the
objectives or schedule for execution of the investment project or repurposes
land after the effective date of this Law, the investor must pay a deposit or
obtain a bank guarantee in accordance with this Law.
5. Any debt
collection service contract concluded before the effective date of this Law
shall cease to have effect from the effective date of this Law; and the parties
to such contract may carry out activities to liquidate the contract in
accordance with the civil law and other relevant regulations of law.
6. Foreign-invested
business organizations to which market access conditions more favorable than
those prescribed in the List promulgated under Article 9 of this Law are
applied may continue to apply the conditions set out in their issued investment
registration certificate.
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8. In the event
that the law stipulates that documentation serving administrative procedures
must consist of an investment registration certificate or written approval for
investment guidelines but the investment project is not subject to issuance of
an investment registration certificate or written approval for investment
guidelines as prescribed in this Law, the investor is not required to submit an
investment registration certificate or written approval for investment
guidelines.
9. With respect to
areas which have difficulties in providing land for development of residential
housing, service facilities and public utilities for employees working in
industrial parks, the competent authority may adjust the planning for
construction of industrial zones (for industrial parks established before July
01, 2014) to reserve part of the land area for development of residential
housing, service facilities and public utilities for employees working in the
industrial parks.
After adjustment of the planning, the land area for
development of residential housing, service facilities and public utilities for
employees working in an industrial park must be outside the geographical
boundary of the industrial park and must ensure an environmental safety
distance in accordance with the law on construction and other relevant
regulations of law.
10. Grandfather
clauses on outward investment activities:
a) Regulations on the duration of outward
investment projects set out in outward investment licenses and outward
investment certificates issued before July 01, 2015 shall cease to have effect;
b) Any investor issued with an outward investment
license or certificate or outward investment registration certificate to make
outward investment in a conditional business line subject to conditional outward
investment in accordance with this Law may continue to make investment
according to the issued outward investment license or certificate or outward
investment registration certificate.
11. From the
effective date of this Law, if any document has been received and the deadline
for processing thereof has expired but the results have not been returned in
accordance with the Law No. 67/2014/QH14 on Investment amended by the Law No.
90/2015/QH13, the Law No. 03/2016/QH14, the Law No. 04/2017/QH14, the Law No.
28/2018/QH14 and the Law 42/2019/QH14, such document shall continue to be
processed in accordance with regulations of law 67/2014/QH14 on Investment
amended by the Law No. 90/2015/QH13, the Law No. 03/2016/QH14, the Law No.
04/2017/QH14, the Law No. 28/2018/QH14 and the Law No. 42/2019/QH14.
12. The Government
shall elaborate this Article.
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CERTIFIED BY
CHAIRMAN
Bui Van Cuong
APPENDIX
(Enclosed
with the Law on Investment No. 61/2020/QH14)
Appendix IV
LIST OF
CONDITIONAL BUSINESS LINES
No.
BUSINESS LINES
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Production of seals
2
Combat gear trading (including repair)
3
Trading in fireworks, excluding firecrackers
4
Trading in camouflage devices and software used
for sound and video recording and positioning
5
Trading in paintball guns
...
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Trading in military equipment and supplies for
the people's armed forces, military weapons, technical equipment, ammunition
and specialized vehicles used for the army and police; components,
accessories, spare parts, supplies and specialized equipment and technology
used for production thereof
7
Pawnshop services
8
Massage services
9
Trading in warning devices for emergency vehicles
10
Security guard services
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Fire safety and firefighting services
12
Lawyer’s practice
13
Notary’s practice
14
Judicial assessment in the fields of finance,
banking, construction, antiques, relics, copyright
15
Auctioneer's practice
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Bailiff’s practice
17
Practice by asset managers and liquidators
regarding assets of enterprises and co-operatives in the pending time of
bankruptcy
18
Accounting services
19
Auditing services
20
Tax agency services
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Customs agency services
22
Duty-free goods trading
23
Bonded warehouse and container freight station
business
24
Premises for conducting customs procedures,
customs gathering, inspection and supervision for rent
25
Securities trading
...
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Securities registration, depository, clearing and
settlement services rendered by Vietnam Securities Depository and Clearing
Corporation (VSDC), organization of markets for trading of listed securities
and other securities
27
Insurance business
28
Reinsurance business
29[14]
Insurance brokerage
29a[15]
Insurance auxiliary services
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Insurance agency
31
Price valuation services
32
Lottery business
33
Prize-winning electronic games for foreigners
34
Credit rating services
...
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Casino business
36
Betting business
37
Voluntary retirement fund management services
38
Petro and oil trading
39
Gas trading
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Commercial assessment services
41
Industrial explosive trading (including
destruction thereof)
42
Explosive precursor trading
43
Business operations using industrial explosives
and explosive precursors
44
Blasting services
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Trading in chemicals, except banned chemicals
according to Convention on the Prohibition of the Development, Production,
Stockpiling and Use of Chemical Weapons and on their Destruction
46
Spirit trading
47
Trading tobacco products, tobacco raw materials,
and machinery and equipment serving tobacco industry
48
Trading in foods under the management of the
Ministry of Industry and Trade
49
Commodity exchange operations
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Electricity generation, transmission,
distribution, wholesaling, retail and consultancy
51
Rice export
52
Temporary import for re-export of goods subject
to special excise tax
53
Temporary import for re-export of frozen food
54
Temporary import for re-export of goods on the
List of used goods
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Mineral trading
56
Industrial precursor trading
57
Goods trading and activities directly related
goods trading by foreign service providers in Vietnam
58
Multi-level marketing
59
E-commerce activities
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Petroleum activities
61
Energy auditing
62
Vocational educational activities
63
Vocational education accreditation
64
Occupational skill assessment services
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Occupational safety inspection services
66
Occupational safety and health training services
67
Employment agency services
68
Overseas employment agency services
69
Voluntary drug rehabilitation services, smoking
cessation services, HIV/AIDS treatment service, care services for the
elderly, people with disabilities and children
...
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Labor outsourcing services
71
Road transport services
72
Automobile warranty and maintenance services
73
Manufacture, assembly and import of automobiles
74
Motor vehicle inspection services
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Automobile driver training services
76
Traffic safety inspector training services
77
Driving test services
78
Traffic safety assessment services
79
Waterway transport services
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Inland waterway ship building, modification,
repair and restoration services
81
Inland waterway ship crewmember and operator
training services
82
Crewmember training and coaching, and ship
crewmember recruitment and supply
83
Maritime safety services
84
Sea transport services
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Ship towing services
86
Import and dismantling of used sea-going ship
87
Ship building, modification and repair services
88
Commercial operation of seaports
89
Air transport business
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Aircraft, aircraft engine, propeller and aircraft
equipment design, manufacture and testing services in Vietnam
91
Commercial operation of airports and aerodromes
92
Aviation services at airports and aerodromes
93
Air navigation services
94
Flight crew training services
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Rail transport business
96
Rail infrastructure business
97
Urban rail business
98
Multimodal transport services
99
Hazardous goods transport services
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Pipeline transport services
101
Real estate business
102
Clean water (domestic water) trading
103
Architectural services
104
Construction project management consultancy
services
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Construction survey services
106
Construction design and construction design
assessment services
107
Construction supervision services
108
Construction services
109
Foreign contractors’ construction activities
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Construction cost management services
111
Construction inspection services
112
Construction experiment services
113
Apartment building operation and management
services
114
Cremation facility management and operation
services
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Construction planning formulation services
116
Trading in white asbestos of the serpentine group
117
Postal services
118
Telecommunications services
119[16]
Trust service business
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Hãy đăng nhập hoặc đăng ký Thành viên
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Publishers' activities
121
Printing services excluding package printing
122
Publication release services
123
Social network services
124
Telecommunications network- and internet-based
games
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Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Pay radio and television services
126
General news website development services
127
Processing, recycling, repair and refurbishment
of used IT products on the list of used IT products banned from import for
foreign partners
128
Provision of information and IT services on
mobile network or the Internet
129
Domain name registration and maintenance services
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Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Data center services
131
Electronic authentication services[17]
132
Network information security products and
services
132a[18]
Trading in cybersecurity products and services
(excluding trading in cybersecurity products and services and trading in
civil cryptographic products and services)
133
Imported newspaper distribution services
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Trading in civil cryptography products and
services
135
Trading in mobile phone jammers
136
Operation of pre-school institutions
137
Operation of general education institutions
138
Operation of higher education institutions
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Operation of foreign-invested educational
institutions, representative offices of foreign educational institutions in
Vietnam, branches of foreign-invested educational institutions
140
Operation of continuing education institutions
141
Operation of specialized schools
142
Educational cooperation with foreign partners
143
Education accreditation
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Overseas study consultancy services
145
Fishing
146
Trading in fishery products
147
Trading in aquaculture feeds and animal feeds
148
Aquaculture feed and animal feed testing services
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Trading in biological preparations,
microorganisms, chemicals, environmental remediation agents serving
aquaculture and husbandry
150
Fishing vessel building and modification
151
Fishing vessel registration
152
Training and retraining crew members of fishing
vessels
153
Breeding and cultivation of wild flora and fauna
prescribed in the CITES Appendices and the List of endangered, precious and rare
forest plant and animal species and aquatic species
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Breeding and raising normal wild animals
155
Import, export, re-export, transit, and
introduction from the sea of natural specimens of species prescribed in the
CITES appendices and lists of endangered, precious and rare forest plant and
animal species and aquatic species
156
Import, export and re-export of bred, reared or
artificially propagated specimens of species prescribed in the CITES appendices
and lists of endangered, precious and rare forest plant and animal species
and aquatic species
157
Processing, trading, transporting, advertising
displaying and storing specimens of plant and animal species prescribed in
the CITES appendices and lists of endangered, precious and rare forest plant
and animal species and aquatic species
158
Trading in agrochemicals
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Processing of items required to undergo plant
quarantine
160
Agrochemical testing services
161
Plant protection services
162
Trading in veterinary drugs, vaccines, biological
preparations, microorganisms and chemicals serving veterinary medicine
163
Veterinary technical services
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Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Animal testing and surgery services
165
Vaccination, diagnosis, prescription, treatment
and healthcare services for animals
166
Veterinary drug testing and experimenting
services (including veterinary drugs, aquatic veterinary drugs, vaccines,
biological preparations, microorganisms and chemicals serving veterinary
medicine and aquaculture veterinary medicine)
167
Farm breeding services
168
Domestic animal and poultry slaughtering services
...
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Hãy đăng nhập hoặc đăng ký Thành viên
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Trading in foods under the management of the Ministry
of Agriculture and Rural Development
170
Animals and animal product quarantine services
171
Trading in fertilizers
172
Fertilizer testing services
173
Trading in plant varieties and animal breeds
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Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Trading in aquatic breeds
175
Plant variety and animal breed testing services
176
Aquatic breed testing services
177
Testing biological preparations, microorganism,
chemicals, environmental remediation agents serving aquaculture and husbandry
178
Trading in genetically modified food
...
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Hãy đăng nhập hoặc đăng ký Thành viên
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Medical examination and treatment services
180
Cosmetic surgery services
181
Pharmacy business
182
Cosmetics production
183
Trading in insecticidal and germicidal chemicals
and preparations for medical use
...
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Hãy đăng nhập hoặc đăng ký Thành viên
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Trading in medical equipment
185
Industrial property assessment services
(comprising assessment of copyright and related rights, assessment of
industrial property ownership and assessment of plant variety rights)
186
Radiological work services
187
Atomic energy application ancillary services
188
Conformity assessment services
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Verification, calibration and testing of
measuring instruments and measurement standards
190
Technology assessment, valuation and examination
services
191
Intellectual property right representation
services (comprising industrial property representation services and plant
variety right representation services)
192[19]
Film dissemination services
193
Antiques assessment services
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Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Site/monument protection, renovation and
restoration project planning, execution, supervision services
195
Karaoke and dance club business
196
Travel services
197
Sports business by sports enterprises and
professional sports clubs
198
Art performance, fashion show, beauty contest,
model contest services
...
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Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Trading audios and videos of dance, music and
stage performances
200
Accommodation services
201
Trading in relics, antiques and national
treasures
202
Export of relics, antiques other than those under
the ownership of the state, political organizations, socio-political organizations;
import of cultural commodities under the management of the Ministry of
Culture, Sports and Tourism
203
Museum services
...
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Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Trading in electronic games (except for
prize-winning electronic games for foreigners and online electronic
prize-winning electronic games)
205
Land survey and assessment consultancy services
206
Land planning and plan formulation services
207
IT infrastructure and software infrastructure
development services for land information systems
208
Land database development services
...
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Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Land pricing services
210
Measurement and mapping services
211
Hydro-meteorological forecasting and warning
services
212
Underground water drilling and survey services
213[20]
Water resource exploitation services
...
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Hãy đăng nhập hoặc đăng ký Thành viên
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Water resource regulation and distribution
decision support services; reservoir and inter-reservoir operation decision
support services
215
Mineral exploration services
216
Mineral mining
217
Hazardous waste transport and treatment services
218
Import of scrap
...
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Hãy đăng nhập hoặc đăng ký Thành viên
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Environmental monitoring services
220
Business operation of commercial banks
221
Business operation of non-bank credit
institutions
222
Business operation of cooperatives, people's
credit funds, microfinance institutions
223
Provision of intermediary payment services and
provision of payment services without payment accounts of customers
...
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Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Credit information services
225
Business operation and foreign exchange
activities by organizations which are not credit institutions
226
Gold trading
227
Money printing and minting
228[22]
Provision of training to radio operators and
issuance of radio operator certificates
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Archiving services
[1] The
effective date of the Law on Land No. 31/2024/QH15 is now August 01, 2024
(previously January 01, 2025) according to clause 2 Article 1 of the Law No.
43/2024/QH15 dated June 29, 2024 on amendments to certain Articles of Law on
Land No. 31/2024/QH15, Law on Housing No. 27/2023/QH15, Law on Real Estate
Business No. 29/2023/QH15 and Law on Credit Institutions No. 32/2024/QH15,
which has been effective since August 01, 2024.
[2] Preludes to
the Law on Environmental Protection No. 72/2020/QH14:
“The Constitution of the Socialist
Republic of Vietnam;
The National Assembly hereby promulgates the Law
on Environmental Protection.”.
Preludes to the Law No. 03/2022/QH15 on amendments
to certain articles of the Law on Public Investment, the Law on Public-Private
Partnership Investment, the Law on Investment, the Law on Housing, the Law on
Bidding, the Law on Electricity, the Law on Enterprises, the Law on Special
Excise Duties and the Law on Civil Judgment Enforcement:
“The Constitution of the Socialist
Republic of Vietnam;
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Preludes to the Law on Cinematography No.
05/2022/QH15:
“The Constitution of the Socialist
Republic of Vietnam;
The National Assembly hereby promulgates the Law
on Cinematography.”.
Preludes to the Law on Insurance Business No. 08/2022/QH15:
“The Constitution of the Socialist
Republic of Vietnam;
The National Assembly hereby promulgates the Law
on Insurance Business.”.
Preludes to the Law No. 09/2022/QH15 on Amendments
to Some Articles of the Law on Radio Frequencies:
“The Constitution of the Socialist
Republic of Vietnam;
The National Assembly hereby promulgates the Law
on Amendments to Some Articles of the Law on Radio Frequencies No.
42/2009/QH12.”.
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“The Constitution of the Socialist
Republic of Vietnam;
The National Assembly hereby promulgates the Law
on Electronic Transactions.”.
Preludes to the Law on Identification No.
26/2023/QH15:
“The Constitution of the Socialist
Republic of Vietnam;
The National Assembly hereby promulgates the Law
on Identification.”.
Preludes to the Law on Housing No. 27/2023/QH15:
“The Constitution of the Socialist
Republic of Vietnam;
The National Assembly hereby promulgates the Law
on Housing.”.
Preludes to the Law on Water Resources No.
28/2023/QH15:
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The National Assembly hereby promulgates the Law
on Water Resources.”.
Preludes to the Law on Land No. 31/2024/QH15:
“The Constitution of the Socialist
Republic of Vietnam;
The National Assembly hereby promulgates the Law
on Land.”.
Preludes to the Law on Archives No. 33/2024/QH15:
“The Constitution of the Socialist
Republic of Vietnam;
The National Assembly hereby promulgates the Law
on Archives.”.
Preludes to the Law No. 43/2024/QH15 on amendments
to certain Articles of Law on Land No. 31/2024/QH15, Law on Housing No.
27/2023/QH15, Law on Real Estate Business No. 29/2023/QH15 and Law on Credit
Institutions No. 32/2024/QH15:
“The Constitution of the Socialist
Republic of Vietnam;
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[3] This point
is amended by point a clause 3 Article 84 of Law on Water Resources No.
28/2023/QH15, which comes into force from July 01, 2024.
[4] This clause
is amended by clause 1 Article 196 of the Law on Housing No. 27/2023/QH15,
which comes into force from January 01, 2025.
[5] This clause
is amended by Article 250 of the Law on Land No. 31/2024/QH15 coming into force
from August 01, 2024 according to clause 2 Article 1 of the Law No.
43/2024/QH15 dated June 29, 2024 on amendments to certain Articles of Law on
Land No. 31/2024/QH15, Law on Housing No. 27/2023/QH15, Law on Real Estate
Business No. 29/2023/QH15 and Law on Credit Institutions No. 32/2024/QH15.
[6] This point
is amended by clause 1 Article 3 of the Law No. 03/2022/QH15 on amendments to
certain articles of the Law on Public Investment, the Law on Public-Private
Partnership Investment, the Law on Investment, the Law on Housing, the Law on
Bidding, the Law on Electricity, the Law on Enterprises, the Law on Special
Excise Duties and the Law on Civil Judgment Enforcement, which has been
effective since March 01, 2022.
[7] This point
is added by clause 1 Article 3 of the Law No. 03/2022/QH15 on amendments to
certain articles of the Law on Public Investment, the Law on Public-Private
Partnership Investment, the Law on Investment, the Law on Housing, the Law on
Bidding, the Law on Electricity, the Law on Enterprises, the Law on Special
Excise Duties and the Law on Civil Judgment Enforcement, which has been
effective since March 01, 2022.
[8] This point
is amended by clause 2 Article 3 of the Law No. 03/2022/QH15 on amendments to
certain articles of the Law on Public Investment, the Law on Public-Private
Partnership Investment, the Law on Investment, the Law on Housing, the Law on
Bidding, the Law on Electricity, the Law on Enterprises, the Law on Special
Excise Duties and the Law on Civil Judgment Enforcement, which has been
effective since March 01, 2022.
[9] This point
is added by clause 2 Article 3 of the Law No. 03/2022/QH15 on amendments to
certain articles of the Law on Public Investment, the Law on Public-Private
Partnership Investment, the Law on Investment, the Law on Housing, the Law on
Bidding, the Law on Electricity, the Law on Enterprises, the Law on Special
Excise Duties and the Law on Civil Judgment Enforcement, which has been
effective since March 01, 2022.
[10] This point
is added by clause 3 Article 3 of the Law No. 03/2022/QH15 on amendments to
certain articles of the Law on Public Investment, the Law on Public-Private
Partnership Investment, the Law on Investment, the Law on Housing, the Law on
Bidding, the Law on Electricity, the Law on Enterprises, the Law on Special
Excise Duties and the Law on Civil Judgment Enforcement, which has been
effective since March 01, 2022.
[11] Articles
170 and 171 of the Law on Environmental Protection No. 72/2020/QH14, which has
been effective since January 01, 2022, stipulate that:
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1. This Law
comes into force from January 01, 2022, except for the case in Clause 2 of this
Article.
2. Clause 3
Article 29 of this Law comes into force from February 01, 2021.
3. The Law on
Environmental Protection No. 55/2014/QH13 amended by the Law No. 35/2018/QH14,
Law No. 39/2019/QH14 and Law No. 61/2020/QH14 shall cease to have effect from
the effective date of this Law.
Article 171. Grandfather clauses
1. Sufficient
and valid documents received by competent regulatory bodies to be processed
according to administrative procedures concerning the environment before the
effective date of this Law shall be processed in accordance with the law at the
time of receipt, unless the organization or individual wishes to apply this
Law.
2. The decisions
to approve environmental impact assessment reports, preliminary environmental
impact assessment reports, detailed environmental impact assessment reports,
additional environmental impact assessment reports, re-prepared environmental
impact assessment reports and detailed environmental protection projects,
written confirmations of simple environmental protection projects, certificates
of registration of satisfaction of environmental standards, environmental
protection commitments and environmental protection plans which were
promulgated by competent authorities before the effective date of this Law are
equivalent to the decision to approve EIAR appraisal result upon considering
issuing the environmental license.
3. The
decisions to approve projects on deposit payment, environmental improvement and
remediation; environmental improvement and remediation projects; environmental
improvement and remediation schemes; additional environmental improvement and
remediation schemes which were promulgated by competent authorities before the
effective date of this Law are part of the approval decisions and written
confirmations specified in Clause 2 of this Article with respect to mineral
mining projects upon considering issuing the environmental license.
4. Environmental
certificates and conformations which were promulgated by competent authorities
before the effective date of this Law, except for the case in Point d Clause 2
Article 42 of this Law, may be used until their expiry.
5. Licenses to
discharge wastewater into water sources and licenses to discharge wastewater
into hydraulic structures issued in accordance with the Law on Water Resource
and Law on Irrigation may be used until their expiry and constitute part of the
environmental license specified in this Law. Holders
of licenses to discharge wastewater into water sources and licenses to
discharge wastewater into hydraulic structures are entitled to request a
competent authority to issue the environmental license if their works and
equipment for exhaust gas treatment and solid waste treatment have been
completed as prescribed by this Law.
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Articles 10 and 11 of the Law No.
03/2022/QH15 on amendments to certain articles of the Law on Public Investment,
the Law on Public-Private Partnership Investment, the Law on Investment, the
Law on Housing, the Law on Bidding, the Law on Electricity, the Law on
Enterprises, the Law on Special Excise Duties and the Law on Civil Judgment
Enforcement, which has been effective since March 01, 2022, stipulate that:
“Article 10. Entry in
force
This Law comes into force as of
March 01, 2022.
Article 11. Transitional provision
1. Regarding
public projects of group B, group C using ODA funds and other preferential
borrowings from foreign sponsors that the Prime Minister approves the
investment policy before the date of entry into force of this Law and the case
in clause 2 of this Article, the agency or person accorded authority to make
decisions on investment policy specified in Article 1 of this Law is also
accorded authority to adjust the investment policy.
2. Regarding
public projects of group B, group C using ODA funds and other preferential
borrowings from foreign sponsors that complete procedures for preparation,
appraisal and obtain a written appraisal that forms the basis for decision on
investment policy or adjustment to investment policy as prescribed in Article
25 and Article 34 of the Law on Public Investment No. 39/2019/QH14 amended
by Law No. 64/2020/QH14 and Law No. 72/2020/QH14 before the date of entry into
force of this Law, they will continue to seek decision from the Prime Minister
as per the Law on Public Investment No. 39/2019/QH14 amended by Law No.
64/2020/QH14 and Law No. 72/2020/QH14.
3. From the
date of entry into force of this Law, with regard to valid applications for
approval for or adjustment to investment guidelines regarding investment
projects on construction of residential housing (for sale, lease or lease
purchase) and urban areas subject to approval for investment guidelines of the
Prime Minister as prescribed in Article 31 of the Law on Investment No.
61/2020/QH14, amended by the Law No. 72/2020/QH14, now subject to approval for
investment guidelines of the People’s Committee of province as established in
Article 3 of this Law, if any application mentioned above has been received but
the processing result has not been received though the processing time goes
beyond the time limit as prescribed in the Law on Investment No. 61/2020/QH14,
amended by the Law No. 72/2020/QH14, then further comply with the Law on
Investment No. 61/2020/QH14, amended by the Law No. 72/2020/QH14.
4. With regard to valid applications for
approval for investment guidelines and approval for investor and adjustments to
investment guidelines regarding investment projects on commercial housing in
case the investor has the right to use the residential land or residential land
and other types of land, if any application mentioned above has been received
before the date of entry into force of this Law but it remains incompletely
processed, then further comply with Article 4 of this Law and relevant laws.
5. From the date of entry into force of this
Law, the judgment that remains unenforced or incompletely enforced shall comply
with this Law; decisions made of or actions performed by civil enforcement
agencies, executors in accordance with the Law on civil enforcement No.
26/2008/QH12, amended by the Law No. 64/2014/QH13, the Law No. 23/2018/QH14 and
the Law No. 67/2020/QH14 remain valid and may proceed further.”.
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“Article 49. Entry into force
1. This Law comes into force as of January 01,
2023.
2. The Law on Cinematography No. 62/2006/QH11
amended by Law No. 31/2009/QH12, Law No. 35/2018/QH14 and Law No. 61/2020/QH14
will expire when this Law comes into force.
Article 50. Transitional provisions
1. Film Dissemination Licenses and Broadcast
Decisions issued according to the Law on Cinematography of Vietnam No.
62/2006/QH11 amended by Law No. 31/2009/QH12, Law No. 35/2018/QH14, and Law No.
61/2020/QH14 may continue to comply with regulations prescribed thereof.
Any license for cooperation in film production
or film production under joint venture or provision of film production services
to a foreign organization or individual issued according to the Law on
Cinematography No. 62/2006/QH11 amended by Law No. 31/2009/QH12, Law No.
35/2018/QH14, and Law No. 61/2020/QH14 shall remain effective until its expiry.
2. In case a film has been issued with the Film
Dissemination License or Broadcast Decision but no warning is provided and film
rating has yet to be displayed to viewers according to regulations stipulated
by the Minister of Culture, Sports, and Tourism of Vietnam, within 01 year from
the effective date of this Law, provide warning and display film rating to
viewers if it continues to be disseminated.”.
Articles 156 and 157 of Law on
Insurance Business No. 08/2022/QH15, which has been effective since January 01,
2023, stipulate that:
“Article 156. Entry into force
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2. Clause 3 of Article 86; clause 4 and 5 of
Article 94; Article 95; clause 3 and 4 of Article 99; Article 109, 110, 111,
112, 113, 114 and 116 herein shall take effect as of January 1, 2028.
3. Law on Insurance Business No. 24/2000/QH10
amended and supplemented according to the Law No. 61/2010/QH12 and Law No.
42/2019/QH14 shall be expired after the entry into force of this Law, except in
the following cases:
a) Clause 1 of Article 157 herein;
b) Articles 77, 78, 79, 80, 81, 83, 94 and 98 of
the Law on Insurance Business No. 24/2000/QH10 that have been amended and
supplemented according to Law No. 61/2010/QH12 and Law No. 42/2019/QH14 shall
be abolished by end of December 31, 2027.
Article 157. Transitional clauses
1. Insurance contracts that have been entered
into before the effective date of this Law and remain valid can continue to
apply in accordance with legislation at the time of conclusion of insurance
contracts, except when contracting parties are agreed on amendments and
supplements thereto to make them aligned with this Law and apply regulations of
this Law.
2. Insurance agent practicing certificates
issued before the entry into force of this Law can continue to be used till end
of December 31, 2025. Minister of Finance shall impose detailed regulations on
transformation from insurance agent practicing certificates issued before the
entry into force of this Law into new ones referred to in this Law.
3. Insurance practicing certificates, insurance
agent practicing certificates and certificates of practicing in insurance
ancillary services that have been issued before the entry into force of this
Law shall continue to be used.
4. As from January 01, 2023, insurance companies
and branches of foreign non-life insurance companies shall cease paying into
the Fund for protection of insured persons.
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a) All balance existing in the Fund for
protection of insured persons shall be in the custody of the Ministry of
Finance to serve the purposes of protecting insured persons' interests when
insurance companies are declared insolvent or bankrupt;
b) The Government shall impose detailed
regulations on management and use of balance of the Fund for protection of
insured persons.”.
Articles 3 and 4 of the Law No. 09/2022/QH15 on
Amendments to Some Articles of the Law on Radio Frequencies, which has been
effective since July 01, 2023, stipulate that:
“Article 3. Effect
1. This Law comes into force from July 01, 2023,
except for the case specified in clause 2 of this Article.
2. Regulations on provision of training to radio
operators and issuance of radio operator certificates laid down in this Law
come into force as of July 01, 2024.
Article 4. Grandfather clauses
1. Any license to use radio frequencies issued
before the effective date of this Law may be used until its expiry. Any radio
operator certificate issued before July 01, 2024 may be used until its expiry.
Any radio operator certificate issued before July 01, 2024 may be used until
its expiry.
2. Any holder of the license to use frequency
bands which is issued to establish public land mobile communication network but
expires before September 06, 2023 may have its license extended as prescribed
in Article 16 of the Law on Radio Frequencies No. 42/2009/QH12 and points a, b
and c clause 1 Article 22 of the Law on Radio Frequencies No. 42/2009/QH12
amended by clause 9 Article 1 of this Law until September 15, 2014 and is not
required to pay the fee for processing of application for the rights to use
radio frequencies for the extension period.
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4. The Ministry of Information and
Communications shall notify the frequency band planning with respect to the
frequency bands allocated to the organizations specified in clauses 2 and 3 of
this Article before August 01, 2023. The number of frequency bands considered
being re-allocated but sharing the same radio frequencies according to the
license to use frequency bands issued before the effective date of this Law may
be re-allocated depending on their current use.
5. The provision of training to radio operators
and issuance of radio operator certificates shall continue to be carried out
under the Law on Radio Frequencies No. 42/2009/QH12 until June 30, 2024.
Articles 52 and 53 of the Law on Electronic
Transactions No. 20/2023/QH15, which comes into force from July 01, 2024,
stipulate that:
“Article 52. Effect
1. This Law comes into force from July 01, 2024.
2. Law on Electronic Transactions No.
51/2005/QH11 shall be no longer valid from the date on which this Law comes
into force, except for the case specified in Article 53 of this Law.
Article 53. Transitional provisions
1. E-transactions established before the
effective date of this Law and not yet implemented by the effective date of
this Law shall continue to comply with the regulations of the Law on Electronic
Transactions No. 51/2005/QH11 and legislative documents elaborating the Law on
Electronic Transactions No. 51/2005/QH11, unless the parties agree to apply the
regulations of this Law.
2. Digital certificates issued before the
effective date of this Law and still valid on the effective date of this Law
shall continue to comply with the regulations of the Law on Electronic
Transactions No. 51/2005/QH11 and legislative documents elaborating Law on
Electronic Transactions No. 51/2005/QH11 until the expiry dates of the digital
certificates and have the same value as digital signature certificates in
accordance with this Law.
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The issuance of digital certificates under
licenses and certificates specified in this Clause shall comply with the
regulations of Law on Electronic Transactions No. 51/2005/QH11 and legislative
documents elaborating Law on Electronic Transactions No. 51/2005/QH11.
4. For applications for licenses for provision
of public digital signature authentication services, licenses for using foreign
digital certificates in Vietnam, operation registration certificates of
special-use digital signature authentication service providers, certificates of
safety of special-use digital signatures which have been submitted to competent
regulatory agencies but have not been granted by the effective date of this
Law, the regulations of Law on Electronic Transactions No. 51/2005/QH11 and
legislative documents elaborating Law on Electronic Transactions No.
51/2005/QH11 shall continue to apply.
5. Acknowledgements of registration for
provision of e-contract authentication services in commercial transaction
issued before the effective date of this Law shall continue to be used until
June 30, 2027.
6. For applications for provision of e-contract
authentication services in commercial transactions which have been submitted to
competent regulatory agencies but have not yet acknowledged by the effective
date of this Law, regulations of law on e-commerce may continue to apply.
7. The Government shall elaborate this
Article.”.
Articles 45 and 46 of the Law on Identification
No.26/2023/QH15, which comes into force from July 01, 2024, stipulate that:
“Article 45. Effect
1. This Law comes into force from July 01, 2024,
except for the case specified in Clause 2 of this Article.
2. Regulations in
Clause 3 Article 46 of this Law come into force from January 15, 2024.
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Article 46.
Transitional provisions
1. Citizen ID
cards issued before the effective date hereof shall be valid until the expiry
date specified in such cards, except for the case specified in Clause 3 of this
Article. Citizen ID cards will be replaced by ID cards at the request of
citizens.
2. 9-digit
ID cards with expiration dates after December 31, 2024 are only valid until the
end of December 31, 2024. Issued legal documents which contain information of
9-digit ID cards and citizen ID cards shall remain valid; state agencies must
not request citizens to change or adjust information of their 9-digit ID cards
or citizen ID cards on the issued documents.
3. 9-digit ID
cards and citizen ID cards that expire from January 15, 2024 to before June 30,
2024 may remain valid until the end of June 30, 2024.
4. Regulations on use of 9-digit ID cards and
citizen ID cards in legislative documents issued before the effective date of
this Law may be applied to ID cards specified in this Law until they are
amended or replaced.”.
Articles 197 and 198 of the Law on Housing No.
27/2023/QH15, which comes into force from January 01, 2025, stipulate that:
“Article 197. Entry into force
1. This Law comes into force from January 01,
2025.
2. The Housing Law No. 65/2014/QH13, as amended
by the Law No. 40/2019/QH14, Law No. 61/2020/QH14, Law No. 62/2020/QH14, Law
No. 64/2020/QH14, and Law No. 03/2022/QH15, shall cease to have effect from the
effective date of this Law, except for the cases prescribed in Point b Clause
1, Points a, c, dd, e, and g Clause 2, Clause 3, Points a, b, c, d, dd, and e
Clause 5 Article 198 of this Law.
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Article 198. Transitional clauses
1. Provincial housing development programs and
plans which have been approved before the effective date of this Law shall be
subject to the following regulations:
a) The implementation of such approved
provincial housing development programs and plans shall be continued; any amendments
to such programs and plans are deemed necessary, they must be made in
accordance with the provisions of this Law, except the cases prescribed in
point b of this clause.
If a provincial housing development
program has been approved by the Provincial-level People’s Council before the
effective date of this Law but has not yet been approved by the
Provincial-level People’s Committee by the effective date of this Law, the
Provincial-level People’s Committee shall consider approving that program on the
basis of the approval given by the Provincial-level People’s Council. If
provincial-level People’s Committees have approved provincial housing
development programs but have not yet approved housing development plans, the
formulation and approval of such housing development plans shall be subject to
the provisions of this Law. In case a provincial housing development plan is
not conformable with an approved provincial housing development program, the
provincial housing development program shall be modified in accordance with the
provisions of this Law;
) If any provincial housing development program
or plan which has been approved before the effective date of this Law needs to
be modified due to an increase in the housing demand for the entities mentioned
in clause 7 Article 76 of this Law at the request of the Ministry of National
Defense of Vietnam or the Ministry of Public Security of Vietnam, such program
or plan shall be modified once in accordance with regulations of law on housing
before the effective date of this Law.
2. Housing development shall be subject to the
following regulations:
a) Regarding housing or urban area construction
projects, documents issued by provincial-level People’s Committees to identify
land areas or locations over which land use rights shall be transferred to
people for construction of their own houses in accordance with regulations of
law shall be observed;
b) Regarding housing or urban area construction
projects in which the project owner selection is occurring but there is no
document on project owner selection results issued by a competent authority by
the effective date of this Law, such project owner selection shall be carried
out in accordance with the provision of this Law, except the cases prescribed
in point a clause 3 and point d clause 5 of this Article;
c) Regarding social housing construction
projects and projects on renovation or reconstruction of apartment buildings
for which decisions or approval of investment policies, project approvals or
decisions on project approval have been issued by competent authorities before
the effective date of this Law, project owners shall continue to be
entitled to investment incentives under such issued decisions or approvals,
except cases where project owners may enjoy new or more favorable incentives as
prescribed in this Law or a new legislative document for the remaining period
of the project;
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dd) Official housing construction projects for
which investment decisions have been issued before the effective date of this
Law shall be implemented in accordance with such issued decisions;
e) Projects on construction of housing serving
relocation for which investment policy decisions or approval, project approvals
or decisions on project approval have been issued before the effective date of
this Law shall be implemented in accordance with such decisions or approvals;
g) If each flat of a single-family detached
house as prescribed in clause 2 Article 46 of the Housing Law No. 65/2014/QH13,
as amended by the Law No. 40/2019/QH14, the Law No. 61/2020/QH14, the Law No.
62/2020/QH14, the Law No. 64/2020/QH14 and the Law No. 03/2022/QH15, has been
granted a Certificate, this flat owner shall perform rights and obligations of
a house owner in accordance with regulations of law on housing before the
effective date of this Law.
If the house mentioned in this clause meets the
requirements laid down in regulations of law on housing and other regulations
of relevant laws before the effective date of this Law but has not yet granted
any Certificate by the effective date of this Law, the household or individual
building this house may apply for a Certificate in accordance with regulations
of law on housing before the effective date of this Law and the land law at
their discretion.
If the house mentioned in this clause does not
meet the requirements laid down in regulations of law on housing and other
regulations of relevant laws before the effective date of this Law, this
violation shall be put into consideration in accordance with regulations of law
on housing, law on construction, law on fire fighting and prevention, and other
relevant laws in force at the time of occurrence of the violation; issuance of
a separate Certificate for each flat in this house shall not be allowed;
transactions involving this house shall comply with provisions of the Civil
Code.
3. Renovation and reconstruction of apartment
buildings shall be subject to the following regulations:
a) Regarding projects on renovation or
reconstruction of apartment buildings in which the project owner selection is
occurring but there is no document on project owner selection results issued by
a competent authority by the effective date of this Law, such project owner
selection shall be carried out in accordance with regulations of law on housing
before the effective date of this Law. These projects shall be implemented in
accordance with provisions of this Law and relevant laws;
b) Valid applications for approval of investment
policy and approval of project owners of projects on renovation or
reconstruction of apartment buildings, and valid applications for approval of
policies for investment in projects on renovation or reconstruction of apartment
buildings which have been received by competent authorities before the
effective date of this Law but have not yet been processed shall continue to be
processed in accordance with regulations of law on housing before the effective
date of this Law;
c) If the owner of the project on renovation and
reconstruction of an apartment building has made compensation according to the
plan for compensation, support and relocation before July 01, 2015 or the plan
for compensation, support and relocation approved under the Housing Law No.
65/2014/QH13, as amended by the Law No. 40/2019/QH14, the Law No. 61/2020/QH14,
the Law No. 62/2020/QH14, the Law No. 64/2020/QH14 and the Law No. 03/2022/QH15
and their guiding documents, such approved plan shall apply, unless areas of
housing, land and construction works are not yet included in the compensation,
support and relocation plan. Compensation for such areas of housing, land and
construction works are not yet included in the compensation, support and
relocation plan shall comply with provisions of this Law;
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4. Management and use of apartment buildings
shall be subject to the following regulations:
a) Regarding apartment buildings which have been
commissioned and put into use before the effective date of this Law and for
which the decision or written approval of investment policy or another document
of equivalent validity as prescribed by law does not require the transfer of
technical infrastructure facilities, the project owner shall maintain, repair,
operate and ensure that these technical infrastructure facilities are used for
proper purposes and functions. In case the transfer of technical infrastructure
facilities is specified in such a document but has not yet been completed,
these technical infrastructure facilities must be transferred for management
and use in accordance with this Law;
b) Regarding technical infrastructure facilities
in the vicinity of the apartment buildings which have been commissioned and put
into use before the effective date of this Law and for which the decision or
written approval of investment policy or another document of equivalent
validity as prescribed by law does not require the transfer of technical
infrastructure facilities, the project owner shall maintain, repair, operate
and ensure that these technical infrastructure facilities are used for proper
purposes and functions. In case the transfer of technical infrastructure
facilities is specified in such a document but has not yet been completed,
these technical infrastructure facilities must be transferred for management
and use in accordance with this Law.
5. Implementation of Chapter VI of this Law:
a) Social housing investment and construction
projects for which investment policy decision or approval, investment decision,
project approval decision and project owner selection document has been issued
before the effective date of this Law shall continue to be implemented
according to such decision or approval, unless the investment policy or project
contents must be modified in accordance with regulations of the investment law;
b) Regarding commercial housing or urban area
construction projects for which investment policy approval, investment
decision, project approval decision or investment approval decision has been
issued before the effective date of this Law, the project owner shall provide a
part of residential land of the project in which technical infrastructure
facilities have been constructed for building social housing according to such
decision or approval;
c) If the owner of an in-progress commercial
housing or urban area construction project has not yet fulfill the obligation
to provide a part of residential land in the project in which technical
infrastructure facilities have been constructed for building social housing by
the effective date of this Law, the project owner shall fulfill this obligation
in accordance with regulations of the housing law in force before the effective
date of this Law;
d) Regarding social housing construction
projects in which the project owner selection is occurring but there is no
document on project owner selection results issued by the effective date of this
Law, such project owner selection shall be carried out in accordance with
regulations of the housing law in force before the effective date of this Law;
dd) The land levy which must be paid in case of
sale of social housing before the effective date of this Law as prescribed by
the housing law but has not yet been paid by the effective date of this Law
shall be paid in accordance with regulations of housing law in force before the
effective date of this Law;
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g) If the social housing area which is included
in a social housing construction project and used for leasing by the project
owner in accordance with clause 3 Article 54 of the Housing Law No.
65/2014/QH13, as amended by the Law No. 40/2019/QH14, the Law No. 61/2020/QH14,
the Law No. 62/2020/QH14, the Law No. 64/2020/QH14 and the Law No.03/2022/QH15
is still not yet leased out by the effective date of this Law, this social
housing area may be sold or provided for lease purchase in accordance with
provisions of this Law.
6. Entities in charge of managing and operating
apartment buildings whose information has been published in accordance with
regulations of the housing law before the effective date of this Law must not
follow procedures for obtaining certificate of eligibility to manage and
operate apartment buildings under this Law, unless there are changes in their
information or services provided or they fail to meet the requirements set
forth in this Law.
7. As of the effective date of this Law,
households owning houses before the effective date of this Law shall
participate in housing-related legal relationships in capacity of individuals
who are household members; and have rights and obligations as house owners
defined in this Law.”.
Articles 85 and 86 of the Law on Water Resources
No. 28/2023/QH15, which comes into force from July 01, 2024, stipulate that:
“Article 85. Effect
1. This Law comes into force from July 01, 2024,
except for the case specified in clauses 3 and 4 of this Article.
2. The Law on Natural Resources No. 17/2012/QH13
amended by the Law No. 08/2017/QH14, Law No. 35/2018/QH14 and Law No.
72/2020/QH14 (hereinafter referred to as “the Law No. 17/2012/QH13”) shall
cease to have effect from the effective date of this Law, except for the case
specified in clauses 1, 3 and 5 Article 86 of this Law.
3. The fee for right to exploit water resources
to be supplied for domestic activities as prescribed in point b clause 1
Article 69 of this Law shall be charged from July 01, 2025.
4. The exploitation of groundwater by households
as prescribed in clause 4 Article 52 of this Law shall be registered from July
01, 2026.
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1. Any organization or individual in the case
mentioned in point b clause 1 Article 69 of this Law that is granted a water
resource license for supply to domestic activities prior to the effective date of
this Law shall pay the fee for right to exploit water resources for domestic
activities as prescribed by this Law and complete declaration serving
calculation of the fee for water resource exploitation right by December 31,
2025 at the latest.
2. Any organization or individual in the case
mentioned in point b clause 1 Article 69 of this Law that is granted a water
resource license for supply to domestic activities prior to the effective date
of this Law shall pay the fee for right to exploit water resources for domestic
activities as prescribed by this Law and complete declaration serving
calculation of the fee for water resource exploitation right by December 31,
2025 at the latest.
3. Any organization or individual in the case
mentioned in point b clause 1 Article 69 of this Law that is granted a water
resource license for supply to agriculture prior to the effective date of this
Law but is not required to pay the fee for water resource exploitation right as
per the Law No. 17/2012/QH13 is not required to pay the fee for water resource
exploitation right for the amount of water supplied to agriculture until the
expiry date written on the water resource license.
4. Any organization or individual in the case
mentioned in point b clause 1 Article 69 of this Law that has their permit for
exploiting surface water for supply to agriculture issued or extended as
prescribed by this Law shall pay the fee for water resource exploitation right
as per this Law at the same time the fee for using irrigation products or
services is collected if the State does not provide financial support for use
of public irrigation products or utilities under regulations of law on
irrigation and law on prices.
5. Any application for issuance, extension,
adjustment or re-issuance of the license to practice groundwater drilling or
the water resource license that is submitted before the effective date of this
Law but has yet to be processed may be processed as per the Law No.
17/2012/QH13, except for the case of applying for issuance of the license as
per this Law.
6. For any hydraulic structure which was built
and operated before January 01, 2013 but has yet to have its exploitation and
use of water resources registered and licensed before the effective date of
this Law, it is required to complete the procedures for registering and
licensing exploitation of water resources as prescribed by this Law by June 30,
2027 at the latest.
7. For the provincial planning approved before
the effective date of this Law, the plan to exploit, use, protect water
resources and recover damage caused by water under the provincial planning may
be implemented until the expiry of the provincial planning period or until the
plan under the provincial planning is modified.
8. Any organization or individual in the cases
specified in points e and g clause 5 Article 52 of this Law that possesses a
lake, pond, canal or ditch to create space for collection, storage or
conveyance of water or create landscapes and uses river, stream, canal, ditch
or reservoir water surface for aquaculture, business and service provision
before the effective date of this Law shall complete procedures for registering
their use of water as per this Law by June 30, 2026 at the latest.”.
Article 252 and Article 253 of the Law on Land No.
31/2024/QH15, which has been effective since August 01, 2024, stipulate that:
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1. This Law comes into force from January 01,
2025, except for the cases specified in clauses 2 and 3 of this Article.
2. Article 190 and Article 248 of this Law come
into force from April 01, 2024.
3. The formulation and approval of land use
planning may continue complying with Resolution No. 61/2022/QH15 dated June 16,
2022 of the National Assembly on continuing to strengthen the effect and
efficiency of policies and laws on planning and a number of solutions to remove
difficulties, speed up the formulation and improve the quality of planning for
the 2021-2030 period.
Clause 9 Article 60 of this Law comes into force
from the date on which Resolution No. 61/2022/QH15 ceases to have effect.
4. Land Law No. 45/2013/QH13 which was amended
by Law No. 35/2018/QH14 (hereinafter referred to as “Land Law No.
45/2013/QH13”) shall cease to have effect from the effective date of this Law.
Article 253. Transitional provisions on land
use planning and plans when this Law comes into force
1. Land use planning and plans that have been
decided and approved by competent regulatory agencies before the effective date
of this Law may continue to be implemented and adjusted when reviewing land use
planning and plans according to Article 73 hereof.
2. A local authority that has provincial
planning for the period of 2021 - 2030 approved according to planning laws
before the effective date of this Law may continue adopting the plan for land
distribution and zoning in the provincial planning to perform land management
until the end of the planning period. The adjustment to the provincial planning
shall comply with Law on Planning No. 21/2017/QH14.”.
Article 64 of the Law on Archives No.33/2024/QH15,
which comes into force from July 01, 2025, stipulates that:
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1. This Law comes into force from January 01,
2025.
2. The Law on Archives No. 01/2011/QH13 shall
cease to have effect from the effective date of this Law, except for the cases
specified in points a, b, c and d clause 1, clause 5 and clause 6 Article 65 of
this Law.”.
Article 5 of the Law No. 43/2024/QH15 dated June
29, 2024 on amendments to certain Articles of Law on Land No. 31/2024/QH15, Law
on Housing No. 27/2023/QH15, Law on Real Estate Business No. 29/2023/QH15 and
Law on Credit Institutions No. 32/2024/QH15, which has been effective since
August 01, 2024, stipulates that:
“Article 5. Effect
This Law comes into force from August 01,
2024.”.
[12] This point is repealed by clause 4
Article 3 of the Law No. 03/2022/QH15 on amendments to certain articles of the
Law on Public Investment, the Law on Public-Private Partnership Investment, the
Law on Investment, the Law on Housing, the Law on Bidding, the Law on
Electricity, the Law on Enterprises, the Law on Special Excise Duties and the
Law on Civil Judgment Enforcement, which has been effective since March 01,
2022.
[13] This
clause ceases to have effect from January 01, 2022 as prescribed in clause 3
Article 170 of the Law on Environmental Protection No. 72/2020/QH14, which has
been effective since January 01, 2022.
[14] This
business line is amended by Article 155 of Law on Insurance Business No.
08/2022/QH15, which has been effective since January 01, 2023.
[15] This
business line is added by Article 155 of Law on Insurance Business No.
08/2022/QH15, which has been effective since January 01, 2023.
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[17] The phrase
“kinh doanh dịch vụ định danh và xác thực điện tử” (“electronic identification
and authentication services”) is replaced by the phrase “kinh doanh dịch vụ xác
thực điện tử” (“electronic authentication services”) according to Article 44 of
the Law on Identification No. 26/2023/QH15, which comes into force from July
01, 2024.
[18] This
business line is added by clause 5 Article 3 of the Law No. 03/2022/QH15 on
amendments to certain articles of the Law on Public Investment, the Law on
Public-Private Partnership Investment, the Law on Investment, the Law on
Housing, the Law on Bidding, the Law on Electricity, the Law on Enterprises,
the Law on Special Excise Duties and the Law on Civil Judgment Enforcement,
which has been effective since March 01, 2022.
[19] This
business line is amended by Article 48 of the Law on Cinematography No.
05/2022/QH15, which has been effective since January 01, 2023.
[20] This point
is amended by point a clause 3 Article 84 of Law on Water Resources No.
28/2023/QH15, which comes into force from July 01, 2024.
[21] This point
is amended by point a clause 3 Article 84 of Law on Water Resources No.
28/2023/QH15, which comes into force from July 01, 2024.
[22] This
business line is added by clause 1 Article 2 of the Law No. 09/2022/QH15 on
Amendments to Some Articles of the Law on Radio Frequencies, which has been
effective since July 01, 2023.
[23] This
business line is added by clause 1 Article 63 of Law on Archives No.
33/2024/QH15, which comes into force from July 01, 2025.