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blue-check New regulation on inspection of FDI enterprises and projects from April 1st, 2022

Circular No. 02/2022/TT-BKHDT dated February 14th, 2022 of the Ministry of Planning and Investment on guidelines for supervision and assessment of foreign investments in Vietnam
Posted: 18/2/2022 7:41:21 AM | Latest updated: 4/4/2022 11:34:35 AM (GMT+7) | LuatVietnam: 5395 | Vietlaw: 554
VietlawOnline

This Circular provides for new regulation on inspection of foreign-invested enterprises and foreign-funded projects in Vietnam, applicable from April 1st, 2022.

Accordingly, with regard to foreign-invested enterprises and foreign-funded projects, the authorities shall inspect these matters through periodic inspection, irregular inspection or specialized inspection:

- Progress of contribution to charter capital, progress of disbursal of the registered investment capital; contribution to legal capital (if regulated); total capital actualized out of the registered amount.

- Progress of the project; implementation of the project's investment objectives; investors’ fulfillment of commitments and requirements for investment activities; requirements for investment incentives; transfer of technology, application of technologies;

- Payment of financial duties to the government.

- Implementation of legal regulations on labor, foreign exchange management, environment, land, construction, fire safety, etc.

- Financial position of foreign-invested enterprises (value of assets contributed; use of machinery and equipment that constituent fixed assets, materials and components imported for manufacturing which are exempt from import duty; transactions with the parent company abroad or associated enterprises; settlement of accounts payable, establishment and use of provisions, depreciation of fixed assets, etc.

- Other details of the implementation of investment projects (abidance by regulations on supervision and assessment of investments and reporting regulations, etc.)

Methods of inspection include inspection through the National system of investment information; inspection of information through reporting or inspection through inspection teams or delegations

This Circular takes effect from April 1st, 2022 and replaces Circular No. 09/2016/TT-BKHDTstatus1 dated June 30th, 2016.

Notes
Please be informed that the attached forms are neither translated nor included in the English file.
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Effective Date 1-Apr-2022
ExpiredDate Unknown
Published Vietlaw's Newsletter No. 554
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enflag pdficon TT02-14022022BKHDT[EN].pdf
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Foreign Investment