Hong Bang Law Firm is one of the prestigious law firms, with many experienced personnel and experts in implementing procedures for adjusting investment projects under the authority of the Management Board to approve investment policies. industrial parks, export processing zones, high-tech zones, economic zones. We guarantee to provide our customers with the most reliable and quality services. Here we would like to send you some necessary information about the implementation of this procedure.

​​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

Procedure Guide

In order to adjust an investment project falling under the authority of the Management Board of industrial parks, export processing zones, hi-tech zones and economic zones, the investor needs to carry out procedures to apply for an approval decision. investment policy adjustment from the competent state agency.

However, the adjustment of all investment projects has not been approved by the investment policy (of the People’s Committee of the province; or of the Management Board of industrial parks, export processing zones, high-tech parks, etc.). economic zones; or by the Prime Minister) must carry out procedures to apply for approval to adjust investment policies (Article 41.3 of the Law on Investment 2020). Only the following cases must perform this procedure, specifically:

• Any objective specified in the written approval for investment guidelines is changed; any objective that is subject to approval for investment guidelines is added;
• The land area is increased or reduced by 10% or more than 30 hectares or the investment location is changed;
• The total investment capital is increased or reduced by 20% or more, thereby changing the scale of the investment project;
• 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;
• The duration of the investment project is adjusted;
• Any technology that has been appraised or about which opinions have been collected during the process of approving the investment guidelines is changed;
• 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.

Dossier

According to the provisions of Articles 46 and 44 of Decree 31/2021/ND-CP, the investor shall submit 04 sets of dossiers to the Management Board of industrial parks, export processing zones, hi-tech parks and economic zones, including:

• An application form for adjustment of the investment project;
• A report on investment project’s progress by the time of adjustment;
• The investor’s decision on investment project adjustment if the investor is an organization;
• Explanation or documents relating to the adjustment of the contents specified in Points b, c, d, dd, e, g and h Clause 1 Article 33 of the Law on Investment (if any).

• A document about the investor’s legal status;
• 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;
• 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;

• 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;
• 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 the Law on Technology Transfer;
• The business cooperation contract if the investment project is executed under a business cooperation contract;
• 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).

Handling agency: Management board of industrial parks, export processing zones, high-tech zones, economic zones

Time and Order of execution

Within 03 working days from the receipt of the valid applications, the industrial park, export-processing zone, hi-tech zone or economic zone management board shall send them to competent authorities to seek their opinions about the adjustments;

Within 15 days from the receipt of the valid applications, the enquired authorities shall give their opinions about the adjustments under their state management;

Within 25 days from the receipt of the valid applications, the industrial park, export-processing zone, hi-tech zone or economic zone management board shall decide to approve adjustment of the investment guidelines. The decision on approval for adjustment of the investment guidelines shall be sent to the investor and agencies related to execution of the investment project.

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

Wishing you and your family good health, peace and success!

Best regards!