All projects must have approval for investment guidelines of the Provincial People’s Committee

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

a) Application form for execution of the investment project, including a commitment to incur all costs and risks if the project is not approved;

b) Documentation pertaining to the investor’s legal status;

c) Documentation proving the financial capacity of the investor

d) Proposal for the investment project

Whenever the law on construction requires formulation of a pre-feasibility study report, the investor is entitled to submit a pre-feasibility study report in lieu of a proposal for the investment project;

d) Whenever 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;

e) Content explaining the technology to be used in the investment project if the project requires appraisal and collection of opinions on technology in accordance with the Law on Technology Transfer;

f) Business cooperation contract should the investment project be executed under a business cooperation contract;

g) Miscellaneous documents relative to the investment project, and requirements on the eligibility and capacity of the investor in accordance with the regulations of law (if any).

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

a) An application for approval for investment guidelines;

b) Proposal for the investment projects

Whenever the law on construction requires formulation of a pre-feasibility study report, the competent authority is entitled to submit a pre-feasibility study report instead of a proposal for the investment project.

Step 1: The investor or competent authority must submit 4 sets of the application for approval for investment guidelines to the investment registration authority.

Step 2: Within 3 business days from the receipt of the valid application, the investment registration authority will forward relevant documents to Departments, People’s Committees (of the Districts where the project is expected to be executed), and agencies concerned – to seek their appraisal  and opinions on the content under their state management;

Step 3: Within 15 days from the receipt of the relevant documents, the enquired authorities will provide their opinions about the contents under their state management to the investment registration authority;

Step 4: Within 25 days from the receipt of the valid applications, the investment registration authority will prepare an appraisal report containing the contents and submit it to the provincial People’s Committee.

Step 5: Within 7 business days from the receipt of the applications and appraisal report, the provincial People’s Committee will consider approving the investment guidelines for the projects. In the event of a refusal, the reason will be provided in writing.

Step 6: The decision on approval for the investment guidelines will be sent to the investor or competent authority as specified in Step 1 of this Article, the authority assigned to conduct investor selection (in case of selecting an investor through land use right auction), the auction bidding organizing authority (to publish the list of projects in accordance with regulations of law on bidding and private sector involvement), and special legislation (whenever selection of an investor through bidding is performed), investment registration authority, Departments and agencies involved in execution of the project.