For investors, Vietnam looks different in significant ways from 10 years ago. Those differences include legal reforms, the newly established stock market and a breakneck GDP growth record, which has consistently exceeded 7% since 2002. Most important, there is a philosophical understanding among the top leadership that the country needs to engage rather than shirk from the international community, as witnessed by its recent efforts to undertake the sometimes wrenching structural reforms necessary to join the WTO.
Who can apply?
Domestic investors and foreign investors carrying out investment activities within the territory of Vietnam.
Where to apply?
- Department of Planning and Investment:
- Investment projects outside industrial zones, export processing zones, high-tech zones and economic zones;
- Investment projects for development of infrastructure facilities in industrial zones, export processing zones, high-tech zones and economic zones in localities, which have not yet established a management committee.
- Management Committees of industrial zones, export processing zones, high-tech zones and economic zones:
- Investment projects in industrial zones, export processing zones, high-tech zones and economic zones;
- Investment projects for development of infrastructure facilities in industrial zones, export processing zones, high-tech zones and economic zones.
What to prepare?
- Domestic invested projects:
- Investor shall not be required to carry out procedures for investment registration of projects which have invested capital below VND fifteen (15) billion and are not in sectors in which investment is subject to conditions. Please see the linked document for sectors subject to conditions.
- Domestic investors must carry out procedures for investment registration in the case of domestic investment projects which have invested capital of between VND fifteen (15) billion and less than VND three hundred (300) billion and are not in sectors in which investment is subject to conditions. The applications shall include documents showing:
- Legal status of the investor;
- Objectives, sale and location for implementation of the investment project;
- Invested capital, project implementation schedule;
- Land use requirements and undertakings on environmental protection;
- Proposal for investment incentives (if any)
- Foreign invested projects:
- Investment registration form;
- Business co-operation contract if the investment form is a business co-operation contract;
- Report on financial capability of the investor (which the investor shall prepare and be liable for).
- Investment projects having invested capital of VND three hundred (300) billion and more and that are not in sectors in which investment is subject to conditions, applications shall include the following documents:
- Written request for issuance of investment certificate on the stipulated form;
- Document certifying the legal status of the investor;
- Report on financial ability of the investor;
- Economic-technical explanatory statement, comprising the following main items: objectives, scale, location of investment, invested capital, schedule for implementation of the project, land use requirements, and technological and environmental solutions;
- Business co-operation contract, if the investment form is a business co-operation contract.
- Investment projects that are in sectors in which the investment is subject to conditions, applications shall include documents showing:
- Explanatory statement on ability to satisfy conditions which the investment project must comply with
- The above application documents applied in different cases.
How long does it take?
Within 15 working days, from the date of the receipt of the application documents, the investment certificate issuing body shall check the validity of the application file and issue the investment certificate.
In case you wish to visit Vietnam to learn about the investment opportunities in the countries, please check to make sure whether you need to obtain a Vietnam business visa or not to best prepare for your trip.
At the moment, there are 2 ways to get a business visa for Vietnam:
- Get a Vietnam embassy visa; or
- Get a visa on arrival.
You can see here https://www.vietnam-visa.com/compare-vietnam-visa-on-arrival-and-embassy-visa/ for details about these 2 ways of getting a business visa for Vietnam.
