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Question: What are the procedures for decision on investment policies to be issued?

Date 12/08/2015 - 14:37:00 | 182 views
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Answer: Articles 30, 31, 32 of the Law on Investment (amended), dated November 26, 2014 stipulate the authority of the National Assembly, the PM, and the provincial People’s Committees of to issue decisions on investment policies.

The new law took effect from July 1, 2015.

I. The National Assembly

1. Projects that have significant effects on the environment or potentially affect seriously the environment, including:

a) Nuclear power plants;

b) Projects that change purposes of land in national parks, wildlife sanctuaries, landscape sanctuaries, experimental forests of 50 hectares or larger; headwaters protective forests of 50 hectares or larger; protection forests meant for protection against wind, sand, waves, land reclamation, environmental protection of 500 hectares or larger, production forests of 1,000 hectares or above;

2. Projects that change purposes of land meant for rice cultivation with two or more crops of 500 hectares or larger;

3. Projects that require relocation of 20,000 people or more in highlands; 50,000 people or more in other areas;

4. Projects that require special policies decided by the National Assembly.

II. The PM’s authority

1. The following projects regardless of capital sources:

a) Projects that require relocation of 10,000 people or more in highlands; 20,000 people or more in other areas;

b) Construction and operation of airports; air transport;

c) Construction and operation of national seaports;

d) Petroleum exploration, extraction, and refinery;

dd) Betting and casino services;

e) Cigarette production;

g) Development of infrastructure of industrial parks, export-processing zones, and specialized sectors in economic zone;

h) Construction and operation of golf courses;

2. Projects not mentioned in Clause 1 of this Article in which investment is VND 5 billion or above;

3. Projects of investment of foreign investors in sea transport, provision of telecommunications services with network infrastructure; afforestation, publishing, journalism, establishment of wholly foreign-invested science and technology organizations or science and technology companies;

4. Other projects subject to issuance of decisions on investment policies by the Prime Minister as prescribed by law.

III. The provincial People’s Committees

1. Except for the projects subject to issuance of decisions on investment policies by the provincial People’s Committee according to regulations of law on public investment and the projects mentioned in Article 30 and Article 31 of this Law, the provincial People’s Committees shall issue decisions on investment policies of the following projects:

a) Projects that use land allocated or leased out by the State without auction or bidding or transfer; projects that require changes of land purposes;

b) Projects that use technologies on the List of technologies restricted from transfer prescribed by regulations of law on technology transfers.

2. The investment policies of investment projects in Point a Clause 1 of Article 32 executed at industrial parks, export-processing zones, hi-tech zones, and economic zones in conformity with planning approved by competent authorities are not subject to approval of the provincial People’s Committees.

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