V. Procedures for issuance of Investment Registration Certificates to investment projects whose decisions on investment guidelines are issued by the National Assembly:

Order of execution:

• Step 1: An investor declares information about the application for IRC on National Investment Information
• Step 2: Within 15 days from the time when submitting application for IRC on National Investment Information, the investor shall submit the files to Ministry of Planning and Investment.
• Step 3: the Ministry of Planning and Investment shall submit a report to the Prime Minister and request establishment of a State Appraisal Council.
• Step 4: the State Appraisal Council shall organize appraisal of the application and prepare an appraisal report including the contents set out in Article 33 of this Law, then submit it to the Government.
• Step 5: the Government shall prepare an application for investment guideline approval and submit it to the National Assembly’s agency presiding over validation.

Quantity, administrative procedures: application compiled in accordance with Article 33 of LOI:

An application for approval for investment guidelines of an investment project proposed by an investor includes:

1. An application form for execution of the investment project, including a commitment to incur all costs and risks if the project is not approved;
2. A document concerning the legal status of the investor;
3. 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;
4. 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 the law on environment. 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;
5. 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;
6. 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;
7. The business cooperation contract if the investment project is executed under a business cooperation contract;
8. Other documents relating to the investment project, and requirements on the eligibility and capacity of the investorin.

An application for approval for investment guidelines of an investment project prepared by a competent authority includes:

1. An application for approval for investment guidelines;
2. Proposal for the investment project including the following main contents: 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, conditions for land expropriation if the project is subject to land expropriation, expected demand for land use (if any); preliminary assessment of environmental impact (if any) in accordance with the law on protection of the environment protection; expected method of investor selection and conditions applicable to the investor (if any); and special regimes and policies (if any). If the law on construction requires formulation of a pre-feasibility study report, the competent authority is entitled to submit the pre- feasibility study report instead of a proposal for the investment project.

Settlement time:

• Within 15 days from the date on which the sufficient application is received, the Ministry of Planning and Investment shall submit a report to the Prime Minister and request establishment of a State Appraisal Council.

• Within 90 days from the date of its establishment, the State Appraisal Council shall organize appraisal of the application and prepare an appraisal report including the contents set out in Article 33 of this Law, then submit it to the Government.
• At least 60 days before the opening of the meeting of the National Assembly, the Government shall prepare an application for investment guideline approval and submit it to the National Assembly’s agency presiding over validation.

Declaration forms:

• Application form for project: Form A.I.1 at Circular No. 03/2021/TT-BKHDT dated 09/4/2021 of Ministry of Planning and Investment.
• Project proposal form: Form A.I.2 or A.I.3 at Circular No. 03/2021/TT-BKHDT dated 09/4/2021 of Ministry of Planning and Investment.