Guidelines for supervision and assessment of foreign investment activities

09/03/2022

The Ministry of Planning and Investment has just issued Circular 02/2022/TT-BKHDT guiding the supervision and evaluation of an investment in foreign investment activities in Vietnam, effective from January 1st. April 2022.

This Circular stipulates the supervision and assessment of investment for foreign investment activities in Vietnam. The supervision and assessment of securities investment activities comply with the provisions of the law on securities.

The principle of supervision and assessment of foreign investment activities is in accordance with competence, functions, tasks, order and procedures and based on law provisions; publicly, transparently, without obstructing or affecting the regular operation of agencies, economic organizations and foreign-invested projects in the process of supervision and evaluation.

According to the Circular, the contents of inspection of economic organizations and foreign-invested projects include progress of charter capital contribution, the progress of disbursement of registered investment capital; legal capital contribution situation; total realized investment capital and ratio to total registered investment capital; Project deployment progress; the implementation of investment objectives of the project; the application of technology to projects subject to technology appraisal and transfer; the implementation of commitments and meeting investment conditions, market access conditions, conditions for enjoying investment incentives, investment support of investors when the project comes into operation.…

In addition, inspect the fulfillment of financial obligations towards the state; the implementation of provisions on labor law, foreign exchange management, environment, land, construction, fire prevention and fighting and other specialized laws; financial status of foreign-invested economic organizations… and other contents related to the implementation of the project.

As for the state management of foreign investment, the inspection contents are Conformity of the investment project with the relevant planning according to the law on planning; the implementation of the provisions of law on granting, adjusting, decommissioning, terminating the operation of investment projects, revoking decisions on approval of investment policies, investment registration certificates from agencies investment registration following the provisions of law; regulations on incentives and support for investment projects; the supervision, evaluation and investment support after issuing decisions approving the investment policy, the investment registration certificate; compensation, site clearance, land acquisition, land handover...

Regarding the assessment of foreign investment activities, the Circular stipulates that the content of the final evaluation includes: The progress of the charter capital contribution of the foreign-invested economic organization, the legal capital, the investment capital contribution of foreign-invested projects; the mobilization and use of mobilized capital according to the provisions of law; the project implementation schedule compared with the prescribed schedule; the use of land and labor of the project; compliance with legal regulations on environmental protection; the fulfillment of financial obligations to the state; evaluate the results of the implementation of the goals, mobilized resources, implementation progress, project benefits, etc.

Impact assessment includes: Evaluation of the implementation of objectives, investment scale; assessment of completion; evaluate investment efficiency (employer, land, state budget payment, investment rate, transferring science and technology, and experience, management and business skills) on the basis of comparing costs and actual results achieved during exploitation and operation; assessment of production technology level, on the transfer of science and technology and experience, management and business skills; evaluating the implementation of the reporting regime for state management agencies according to regulations…

This Circular takes effect from April 1st, 2022.

Source: Chinhphu.vn

 

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