Procedures for issuance of approval for outward investment guidelines of the National Assembly

I.  Projects under the National Assembly’s power to approve outward investment guidelines

1.  Investment projects with outward investment capital of VND 20,000 billion or more;

2.  Investment projects that require the application of a special mechanism or policy that needs to be decided by the National Assembly.

II.  Records for the procedure

1.  An outward investment registration form;

2.  A document concerning the legal status of the investor;

3.  A proposal for the investment project containing at least: form, objectives, scale, and investment location; preliminary determination of investment capital, capital raising plan and structure of capital sources; project execution schedule, investment phases (if any); preliminary analysis of the efficiency of the project;

4.  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 of the investor; a parent company’s commitment to provide financial support; a financial institution’s commitment to provide financial support; guarantee for the investor’s financial capacity; other document proving the investor’s financial capacity;

5.  A commitment to itself/himself/herself balance sources of foreign currency or a commitment of an authorized credit institution to provide foreign currency for the investor;

6.  A document issued by the authority representing the owner which approves the investor to carry out outward investment activities, and report on internal appraisal of the outward investment proposal of the state-owned enterprise or decision on outward investment of the non-state owned enterprise;

7.  With regard to an outward investment project in the business lines subjected to conditional outward investment (banking; insurance; securities; press, radio and television; real estate business): The investor shall submit a written certification of the investor’s fulfillment of conditions for outward investment issued by a competent authority in accordance with the relevant regulations of law (if any).

III.  Legal basis

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

2.  Decree No. 29/2021/ND-CP on provisions on the order, procedures for assessment of national important projects and investment supervision and evaluation;

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

4.  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.