Vietnam Investment Law

Latest Vietnamese Companies Investment Act:

The Vietnam Investment Act was adopted at the Eighth Congress of the 13th Congress of Vietnam on November 26, 2014. There are 7 chapters 76 and 4 appendices. Will be July 1, 2015 effective, replace the 2005 "Investment Law"

"Vietnam Investment Law" has these new points:

1 / Scope of application

This Act provides for Vietnamese investment and business activities, as well as Vietnam's investment in foreign business activities.

2 / Applicable object

This Law applies to both the investee and the organizations and individuals concerned with the investment and business activities

3 / Explanation of words:

• An investment registration authority means an authority which has a certificate of issuance, alteration and revocation of the investment registration certificate.
• Expansion of investment plans refers to the expansion of the current investment and business activities plan size, or the original investment plan to improve production capacity, innovation and technology, reduce pollution and improve the environment of the expansion of investment plans.
• The new investment plan refers to the initial investment plan, or with the current investment and business plans with independent activities of the investment plan.
• Investment and management refers to the investment industry to set up a business organization to invest in the implementation of investment and business activities; its investment methods, including investment shares, purchase of shares, the purchase of commercial organizations stake in shares; by way of contract investment or implementation of investment plans The
• A certificate of investment registration means a file or electronic file containing information on the investment plan information of the investor.
• The national information system of investment refers to a professional information system that conducts the tracking, evaluation and analysis of the investment situation across the country to provide services for the government to manage and assist the investors in the implementation of investment and business activities.
• An investment contract in the form of a public or private partnership (hereinafter referred to as a PPP contract) means a contract signed between an investment authority and an enterprise by a government authority and a program to carry out an investment plan in accordance with Article 27 of this Law.
• Processing export area refers to the industrial area specializing in the production of export goods, the provision of export products and engaged in export business.
• A foreign investor refers to an individual who has a foreign nationality in an investment and business activity in Vietnam or an organization established under a foreign law.
• A domestic investor who is a personal organization with a Vietnamese nationality or a business organization that has a foreign investor as a shareholder or a member.
• Business organization means an organization established and organized in accordance with the provisions of the Vietnam Act, including enterprises, cooperatives, co-operative cooperatives and other organizations that carry out investment and business activities.

4 / Prohibited investment in industrial projects

• The appendices listed in Appendix 1 to this Law Appendix to this Law;
• The chemicals and minerals listed in Appendix 2 to this Law;
• The wildlife and animal species listed in Appendix 1 to the Convention on the International Sale and Purchase of Wild and Endangered Animals and Plants; the operation of various wild endangered animal and plant specimens with natural sources listed in Group 1 of Appendix 3 to this Law;
• Operating to sell spring;
• Population, the sale of human organs and tissues;
• Vital to human asexual reproduction.

5 / investment and management of conditional industrial projects

• The investment and operating conditions of the industrial projects in accordance with Appendix 4 of this Law are based on the Vietnamese Act, the Announcement and the Vietnamese Participation in the International Convention. All ministries, departments, people's assemblies, people's committees at all levels, organs, organizations and other individuals , Shall not be issued conditional investment and management requirements.
• Conditional investment and operation shall meet the objectives set out in item 1 of this Article and shall ensure that it is open, clear, objective and mitigated by the time and cost of the investment.
• Conditional investment and operation of the industry and the investment and operation of the industry conditions, should be published in the enterprise registration of national information network.

6 / Investment and Business Guarantee at Change

• If the investment offer stipulated in the new release is superior to the investment preference enjoyed by the investee, the investor may, in accordance with the new law, enjoy the new offer during the remaining period of the original investment plan.
• The above provisions do not apply to changes in the statute of the law because of national defense, national security, social order security, social morality, public health and the protection of environmental reasons.
• May not continue to apply for investment concessions, the following single or part of the measures to be considered:
  ■ offset the actual damage from the income tax on the investee;
  ■ change the investment plan objectives;
  ■ assisting investors to improve damage.
• The investor shall submit a written request within 3 years from the date of entry into force of the new Act.

7 / Applicable investment preferences and objects

Part or the entire investment plan during the implementation of the application is lower than the general corporate operating tax rate; relief business tax.

8 / Enjoy the object of investment concessions

• Production of electronic products, important machinery products, agricultural machinery, automobiles, auto parts, shipbuilding
• Production of textile and garment industry, footwear leather industry with industrial products
• Production of information technology products, software, digital content
• Collection, processing and processing or reuse of waste
• People 's Credit Fund, Microcredit Organization
• With a size of more than 6 trillion VND, and from the issuance of investment registration certificate or the decision to obtain investment intentions within 3 years from the date of the funds at least 6 trillion VND plan
• Investing in rural areas employ more than 500 labor programs

9 / Investment assistance

• Various forms of investment
  ■ Assist in the development of the social and infrastructural technical structure system within and outside the scope of investment projects
  ■ Assist in the training and development of human resources
  ■ Assist in credit
  ■ to provide production and operation site advisory assistance; to help manufacturers to move outside the city;
  ■ assist in the provision of technology and technology transfer;
  assist in developing markets and providing information;
  ■ Provide R & D assistance.

10 / development of industrial areas, high-tech parks, economic housing labor homes, service engineering and public works

- According to the overall development plan of the industrial zone, high-tech park and economic zone examined by the authority organ, the provincial people's committee plans to plan and deploy the land, develop the industrial area, high-tech park, economic area of employment labor Residential, service engineering and public works.
For government agencies that have difficulty in deploying land to develop residential, service engineering and public works in industrial areas, high-tech parks and employment areas in the economic zone, government authorities can change the industrial development plan to release some of the land Development of residential, service and public works.

25 / issuance of investment registration procedures

• The procedures for issuing the investment registration certificate:
  ■ Investment plan for foreign investors;
  ■ Article 23 (1) of this Law regulates the investment plan of a business organization.

• No need to issue an investment registration certificate:
  ■ investment plans owned by domestic investors;
  ■ Article 23 (2) of this Law regulates the investment plan of a business organization.
  ■ Investments are made in the form of shares, purchase of commercial organizations and equity funds.

26 / Procedures for issuing investment registration certificates

- The investment registration authority shall, within 5 working days from the date of receipt of the investment intention decision, issue a certificate of investment registration to the investing party for the investment plan for the application of the investment intention decision in accordance with Articles 30, 31 and 32 of this Law The
- Procedures for issuing investment registration certificates in accordance with the following provisions for other investment plans:
A) the investor submits the document to the investment registration authority in accordance with the provisions of Article 33, paragraph 1 of this Law;
B) The investment registration authority shall issue a certificate of investment registration within 15 days after receiving the complete order. If the refusal is made, the investor shall be informed in writing and the reason is given in detail.

27 / issue, change and revoke the investment registration certificate

• Industrial zone, processing export zone, high-tech park and economic zone management committee to accept, change and revoke the industrial area, processing export area, high-tech park and the economic zone investment in the case of investment registration certificate.
• The Investment and Investment Office accepts, changes and revokes the investment registration certificate for the investment case outside the industrial area, the processing export zone, the high-tech park and the economic zone, except as provided for in paragraph 3 of this Article.
• The investment office set up or proposed to set up the main office space, the liaison office to implement the investment planning of the location of the investment investment hall to accept, change and revoke the following provisions of the investment plan investment registration certificate:
  ■ At the same time in a number of central municipalities and provincial investment plans;
  ■ Investment plans for industrial areas, processing and export zones, high-tech parks and economic zones.

28 / Investment registration certificate

• Investment plan code.
• Name and address of the investor.
• Investment plan name.
• Investment plan execution location; use of land area.
• Investment plan objectives and scale.
• Investment plan funds (including investment in the shares and raise funds), shares and raise the source of funding progress.
• Plan the duration of the program.
• The progress of the implementation of the investment project: the progress of the construction of the capital construction and the project construction activities (if any); the implementation of the main project and target implementation plan; the implementation of the program in phases should detail the implementation goals, duration and content of each stage.
• Enjoy preferential investment, investment assistance and applicable conditions and basis (if any).
• Applicants are eligible for investment plans (if any).

29 / change investment registration certificate

Change the application for investment registration certificate;
To apply for a change in investment registration certificate at the time of the implementation of investment plans report;
The decision of the investee to change the investment registration certificate;
Article 33, paragraph 1, B, C, D, E, F, G of this Law and the information on the relevant changes.

30 / change investment registration certificate

• Within 10 working days of receiving the complete application documents, accept the registered investment authority to change the investment registration certificate;
• If you refuse to change the investment registration certificate, you should notify the investment and explain the reasons in detail.
• In the case of a plan to have an investment intention decision, when the relevant investment plan target, investment location, major technology, increase or decrease by more than 10%, total investment amount, execution period, change investment or change investment condition (If any), the investment registration authority to change the investment registration certificate, the investment intention to decide the procedures.

36 / Termination of investment plans activities

• While the invester does not have any improvement
• The investor shall not go through the formalities of altering the investment location within 6 months from the date when the government uses the land or is not allowed to continue to use the investment location.
• Has ceased to be active in the investment plan, and since the cessation of activities within 12 months, the investment registration authority can not be with the investment or investment legal representative of the contact;
• 12 months after the registration of the investment registration authority, the investor does not perform or does not have the ability to perform and, in accordance with Article 46 of this Law,