PROCEDURES FOR ADJUSTMENT OF THE INVESTMENT REGISTRATION CERTIFICATE

The Investment Registration Certificate is a legal document issued by a competent State authority of Viet Nam to a foreign investor, which records key information relating to an investment project. When changes arise in actual circumstances, the investor must carry out procedures for adjustment of the Investment Registration Certificate at the investment registration authority in order to record the amended contents of the project and/or changes to the investor as stated in the Investment Registration Certificate.

Legal grounds:

• Law on Investment 2020;

• Decree No. 31/2021/ND-CP.

1. Cases Requiring Adjustment of an Investment Project

An investor shall carry out procedures for adjustment of the Investment Registration Certificate where the adjustment of the investment project results in changes to the contents of the Investment Registration Certificate, specifically including the following cases:

• Change of the name of the investment project.

• Change of investor information.

• Change of the location for implementation of the investment project and the land use area.

• Change of the objectives or scale of the investment project.

• Change of the capital of the investment project (including the investor’s contributed capital, i.e. increase or decrease of charter capital, and mobilized capital, i.e. increase or decrease of total investment capital).

• Change of the operating term of the investment project.

• Change of the implementation schedule of the investment project, including:

► Schedule for capital contribution and mobilization of funding sources;► Schedule for implementation of the principal operational objectives of the investment project; in case the investment project is divided into phases, the implementation schedule for each phase must be specified.

• Change of the form of investment incentives and support, and the legal grounds and conditions for their application (if any).

• Change of conditions applicable to the investor implementing the investment project (if any).

2. Dossier for Adjustment of the Investment Registration Certificate

Investment projects subject to approval of investment policy

The investment registration authority shall adjust the Investment Registration Certificate in accordance with the Decision on approval of adjustment of the investment policy for the project.

Investment projects not subject to approval of investment policy

a) In case the adjustment of the investment project involves a change of the investment project name or the investor’s name as stated in the Investment Registration Certificate, the investor shall submit a written request for adjustment of the investment project to the investment registration authority, enclosed with documents related to the change of the investment project name or the investor’s name.

b) In other cases of adjustment of the investment project, the investor shall submit 08 sets of dossiers, comprising:

• A written request for adjustment of the investment project;

• A report on the implementation status of the investment project up to the time of adjustment;

• The investor’s decision on adjustment of the investment project, in the case where the investor is an organization;

• An explanatory statement or documents related to the adjustment of the following contents (if any):• Documents on the legal status of the investor;• Documents evidencing the financial capacity of the investor;• Investment project proposal. In case the law on construction requires the preparation of a pre-feasibility study report, the investor may submit the pre-feasibility study report in lieu of the investment project proposal;• In case the investment project does not request the State to allocate land, lease land, or permit change of land use purpose, a copy of documents on land use rights or other documents determining the right to use the location for implementation of the investment project;• Explanatory contents on the technology to be used in the project;• BCC contract in respect of investment projects implemented in the form of a BCC contract.

3. Procedures for Adjustment of the Investment Registration Certificate

Step 1: The investor prepares the dossier and submits it to the investment registration authority.

Step 2: The competent authority appraises the dossier.

Upon receipt of a complete dossier from the investor, the competent state authority shall conduct an appraisal of the validity of the dossier for adjustment of the Investment Registration Certificate. In case the dossier is incomplete or inaccurate, the competent authority shall request the investor to amend and/or supplement the dossier.

Step 3: Receipt of results.

Where the dossier is valid, the competent authority shall issue the adjusted Investment Registration Certificate to the investor. In case of refusal, the competent authority responsible for adjustment must notify the investor in writing and clearly state the reasons therefor.

Time limit for issuance of the Investment Registration Certificate:

• For projects subject to approval of investment policy: Within 05 working days from the date of receipt of the Decision approving the adjustment of the investment policy.

• For projects not subject to approval of investment policy:► Within 03 working days from the date of receipt of the written request for adjustment of the Investment Registration Certificate, the investment registration authority shall adjust the Investment Registration Certificate for the investor in cases where the adjustment of the investment project involves changes to the investment project or the investor’s name.► Within 10 days from the date of receipt of a valid dossier, the investment registration authority shall adjust the Investment Registration Certificate for the investor in other cases of adjustment.