What procedures should a domestic enterprise want to carry out for investment abroad? Our company specializes in providing consulting services and carrying out procedures for outward investment guideline approval by the Prime Minister. This procedure is specified as follows

Legal basis

• Investment Law 2020
• Decree 31/2021/ND-CP guiding the Law on Investment
• Circular 03/2021/TT-BKHDT stipulating the form of documents and reports related to investment activities in Vietnam, investment from Vietnam to abroad and investment promotion issued by the Ministry of Planning and Investment onion
• Decree 29/2021/ND-CP stipulating the order and procedures for appraising national important projects and investment monitoring and evaluation

Regulation

The Prime Minister shall grant approval for outward investment guidelines of the following investment projects:

1. a) Investment projects in the banking, insurance, securities, press, radio, television and telecommunications fields with outward investment capital of VND 400 billion or more;
2. b) Investment projects not mentioned in Clause a of Article 56 Investment Law with outward investment capital of VND 800 billion or more.

Dossiers for outward investment guideline approval by the Prime Minister

The investor shall submit an outward investment project dossier to the Ministry of Planning and Investment. The dossier consists of:

1. a) An outward investment registration form;
2. b) A document about the investor’s legal status;
3. 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;
4. 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;
5. 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;
6. 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;
7. 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).

Procedures for outward investment guideline approval by the Prime Minister

Investors submit investment project dossiers to the Ministry of Planning and Investment. Within 03 working days from the date of receipt of a complete dossier, the Ministry of Planning and Investment shall send the dossier for appraisal opinions of relevant state agencies.

Within 15 days from the date of receipt of the dossier, the consulted agency shall give written appraisal opinions on the contents under its management.

Within 30 days from the day on which the application is received, the Ministry of Planning and Investment shall appraise it and make an appraisal report and submit it to the Prime Minister. The appraisal report includes the following contents:

• Conditions for issuance of the Certificate of offshore investment registration are specified in Article 60 of this Law;
• Investor’s legal status;
• The need to carry out investment activities abroad;
• The conformity of the investment project with the provisions of Clause 1, Article 51 of the Law on Investment 2020;
• Form, scale, location and implementation schedule of investment projects, outward investment capital, capital sources;
• Assess the level of risk in the host country.

The Prime Minister considers and approves the policy of outward investment

Above is our consultancy about this issue. If you need more detailed advice and answers as well as how to access this service, please contact directly the Deputy Director of Sales: Lawyer Nhat Nam via hotline: 0912.35.65.75, 0912.35.53.53 or call the free legal consultation hotline 1900.6575 or send a service request via email: lienheluathongbang@gmail.com

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