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blue-check Regarding guidelines on procedures for execution of investment projects

Official letter No. 2626/BKHDT-PC dated May 10th, 2021 of the Ministry of Planning and Investment regarding guidelines on procedures for execution of investment projects.
Posted: 12/5/2021 7:40:35 AM | Latest updated: 21/6/2021 3:52:36 PM (GMT+7) | LuatVietnam: 5209 | Vietlaw: 515
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According to this Official letter, if a foreign investor contributes capital, purchases shares or stakes in an enterprise that has the certificate of rights to use land on the island, in border commune, ward or town and coastal commune, ward or town (except for industrial parks, export-processing zones, etc.), the foreign investor shall be also subject to the regulations pertaining to conditions concerning assurance of national defense and security regulated at the Law on Investment No. 61/2020/QH14status2 – in other words, projects may be forced to suspension if the Prime Minister recognizes that the projects are potentially detrimental to national defense and security.

Regarding termination of an investment project, the new regulations at Article 48 of the Law on Investment No. 61/2020/QH14status2 are changed in comparison with the earlier regulations. Accordingly, if a project is not executed or the investor is not able to execute, the project is not yet forced to be suspended. The investor instead may apply for extension of the project’s schedule for 2 years. After 2 years of extension if the project is still not executed, the project may be terminated in part or in full.

Ms Phuong Thao (VietlawOnline.com)
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Published Vietlaw's Newsletter No. 515
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Foreign Investment