Decree issued to facilitate foreign investors' operation in VN
Decree No. 118/2015/NĐ-CP defines some articles of the Law on Investment, which facilitates investment procedures in forms of capital and stakes contribution for foreign investors.
Foreign investors who buy shares in or contribute capital to economic organizations won’t have to deal with procedures involved in investment certification.
Foreign investors will themselves have to register with the planning and investment departments in localities where the economic organizations are headquartered, in the following cases:
– The economic institutions engage in business areas that are accompanied by certain conditions for foreign investment, as stipulated by the authorities.
– The stake acquisition or capital contribution increases the share of foreign investors in the economic institutions from below 51% to 51% or more; or from 51% to higher levels.
After receiving foreign investors’ registration documents, the planning and investment departments will notify them whether they are qualified for their investments or not, within 15 days.
Foreign investors who are set to establish companies in Viet Nam will also be able to get investment certificates for their projects within 15 days.
Investment requirements for foreign investors
Decree No. 118/2015/NĐ-CP also specifies requirements for foreign investors.
Accordingly, the Ministry of Planning and Investment will host and cooperate with other ministries to check and collect sectors, industries and investment conditions for foreign investors based on international laws, ordinances, decrees and conventions on investment.
Investment requirements for foreign investors include contents about investment sectors and industries, investment conditions and service sectors for foreign investors.