Procedures for adjusting the investment guideline approval decision for projects subject to the Prime Minister’s investment guideline approval

I.  Subject implementing the procedure

An investor whose investment guideline has been approved must implement the procedures for adjusting the investment guideline approval decision if it falls into one of the following cases:  

1.  Any objective specified in the investment guideline approval decision is changed; any objective that is subject to investment guideline approval is added;

2.  The land area is increased or reduced by 10% or more than 30 hectares or the investment location is changed;

3.  The total investment capital is increased or reduced by 20% or more, thereby changing the scale of the investment project;

4.  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;

5.  The duration of the investment project is adjusted;

6.  Any technology that has been appraised or about which opinions have been collected during the process of approving the investment guidelines is changed;

7.  There is a change of the investor in the investment project whose investment guidelines are approved together with the investor approval before the exploitation or operation of the project or there is a change of conditions (if any) applicable to the investor.

Pursuant to the decision on approval for adjustment of investment guidelines, the investor shall follow procedures for adjusting the decision on investor approval (if any) or Investment Registration Certificate (if any). If any content of the investment project is adjusted in a case other than the case specified in cases mentioned above, the investor is not required to follow procedures for approval for adjustment of the investment guidelines.

Note: With respect to the investment project whose investment guidelines are approved, the investor is not allowed to extend the investment execution schedule by more than 24 months compared to that stated in the first approval for investment guidelines, except for some cases according to the laws.

II.  Records for the procedure

1.  A written request for approval of adjustment of investment guidelines, clearly stating the contents requested for adjustment and reasons for adjustment;

2.  Adjusted Investment Project Proposal or Adjusted Pre-Feasibility Study Report or Adjusted Feasibility Study Report;

3.  Explanation or documents relating to the adjustment contents:

-   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;

-   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).

4.  Other relevant documents (if any).

III.  Legal basis

1.  Law on Investment No. 61/2020/QH14 on 17 June 2020

2.  Decree No. 31/2021/ND-CP on 26 March 2021 detailing and guiding the implementation of a number of articles of the Investment Law;

3.  Circular No. 03/2021/ND-CP on 09 April 2021 prescribing templates for documents and reports related to investment activities in Vietnam, outward investment activities and investment promotion activities.