Q&A

Article 18 of the Investment Law 2020 stipulates the form of investment support as follows:
1. Forms of investment assistance:
a) Assistance in development of technical infrastructure and social infrastructure inside and outside the perimeter of the investment project;
b) Assistance in training and development of human resources;
c) Credit assistance;
d) Assistance in access to business premises; assistance in relocation of business establishments under decisions of regulatory agencies;
dd) Assistance in science, technology and technology transfer;
e) Assistance in market development and information provision;
g) Assistance in research and development.
2. The Government shall, according to the orientation for socio-economic development and the ability to balance the state budget in each period, specify the forms of investment assistance in Clause 1 of this Article which is provided for hi-tech enterprises, science and technology enterprises, science and technology organizations, enterprises investing in agriculture and rural areas, enterprises investing in education, dissemination of laws and other entities.

Article 16 of Investment Law 2020: Business lines and areas eligible for investment incentives:
1. Business lines eligible for investment incentives:
a) Hi-tech activities, hi-tech supporting industry products, research, manufacturing and development of products formed from science and technology results in accordance with regulations of law on science and technology;
b) Manufacturing of new materials, new energy, clean energy, renewable energy; manufacturing of products with an added value of 30% or more; energy-saving products;
c) Manufacturing of key electronics, mechanical products, agricultural machinery, automobiles, automobile parts; shipbuilding;
d) Manufacturing of products on the List of prioritized supporting industry products;
dd) Manufacturing of IT products, software products, digital contents;
e) Breeding, growing and processing of agriculture products, forestry products, aquaculture products; afforestation and forest protection; salt production; fishing and fishing logistics services; production of plant varieties, animal breeds and biotechnology products;
g) Collection, treatment, recycling or re-use of waste;
h) Investment in development, operation, management of infrastructural works; development of public transportation in urban areas;
i) Pre-school education, general education, vocational education, higher education;
k) Medical examination and treatment; manufacturing of medicinal products and medicinal materials, storage of medicinal products; scientific research into preparation technology and biotechnology serving creation of new medicinal products; manufacturing of medical equipment;
l) Investment in sports facilities for the disabled or professional athletes; protection and promotion of value of cultural heritage;
m) Investment in geriatric centers, mental health centers, treatment for agent orange patients; care centers for the elderly, the disabled, orphans, street children;
n) People's credit funds, microfinance institutions;
o) Manufacturing of goods and provision of services that create or participate in value chains and industry linkage clusters.
2. Areas eligible for investment incentives:
a) Disadvantaged areas and extremely disadvantaged areas;
b) Industrial parks, export-processing zones, hi-tech zones and economic zones.
3. According to the business lines and areas eligible for investment incentives mentioned in Clause 1 and Clause 2 of this Article, the Government shall compile and amend the List of business lines eligible for investment incentives and the List of areas eligible for investment incentives; determine business lines eligible for special investment incentives to be included in the List of business lines eligible for investment incentives.

Article 15, Investment Law 2020, regulations on Forms and objects for application of investment incentives as follows:
1. Forms of investment incentives:
a) Corporate income tax incentives, including application of a lower rate of corporate income tax for a certain period of time or throughout the investment project execution; exemption from and reduction of tax and other incentives prescribed by the Law on Corporate Income Tax.
b) Exemption from import tax on goods imported to form fixed assets; raw materials, supplies and components for manufacturing purposes in accordance with regulations of law on import and export tax;
c) Exemption from and reduction of land levy and land rents;
d) Accelerated depreciation, increasing the deductible expenses upon calculation of taxable income.
2. Entities eligible for investment incentives:
a) Investment projects in business lines eligible for investment incentives specified in Clause 1 Article 16 of this Law;
b) Investment projects located in the areas eligible for investment incentives specified in Clause 2 Article 16 of this Law;
c) Any investment project whose capital is at least VND 6,000 billion of which at least VND 6,000 billion is disbursed within 03 years from the issuance date of the investment registration certificate or the approval for investment guidelines and which satisfies any of the following criteria: the total revenue is at least VND 10,000 billion per year within 03 years from the year in which the revenue is earned or the project has more than 3,000 employees;
d) Projects on investment in social housing construction; investment projects located in rural areas and employing at least 500 employees; investment projects that employ persons with disabilities in accordance with regulations of law on persons with disabilities.
dd) Hi-tech enterprises, science and technology enterprises and science and technology organizations; projects involving transfer of technologies on the List of technologies the transfer of which is encouraged in accordance with regulations of the Law on Technology Transfer, science and technology enterprise incubators prescribed by the Law on High Technologies and Law on Science and Technology; enterprises manufacturing and providing technologies, equipment, products and services with a view to satisfaction of environment protection requirements prescribed by the Law on Environment Protection;
e) Start-up projects, national innovation centers and research and development centers;
g) Investment in business in small and medium-sized enterprises’ product distribution chain; investment in business in technical establishments supporting small and medium-sized enterprises, small and medium-sized enterprise incubators; investment in business in co-working spaces serving small and medium-sized enterprises and startups prescribed by the Law on Small and Medium-Sized Enterprises.
3. Investment incentives shall be given to new investment projects and expansion projects.
4. The level of each type of incentives shall be specified by regulations of the Law on Taxation, the Law on Accounting and the Law on Land.
5. The investment incentives applied to the objects mentioned in Points b, c and d Clause 2 of this Article do not apply to:
a) Projects on investment in mineral mining;
b) Projects on investment in manufacturing/sale of goods/services subject to special excise tax according to the Law on Special Excise Tax, except for projects on manufacturing of automobiles, aircrafts and yachts.
c) Projects on investment in commercial housing construction prescribed by the Law on Housing.
6. Investment incentives applied for a fixed term and on the basis of results of project execution. Every investor must satisfy conditions for investment incentives in accordance with regulations of law during the period of enjoying investment incentives.
7. An investment project that is eligible for various levels of investment incentive, including investment incentive specified in Article 20 of this Law may apply the highest level.
8. The Government shall elaborate this Article.

1. What are the regulations regarding the selection of investors for constructing technical infrastructure in industrial clusters starting from May 1, 2024?
According to the provisions in Clause 2, Article 13 of Decree 32/2024/ND-CP, industrial clusters with businesses, cooperatives, or organizations proposing the establishment or expansion of the industrial cluster must comply with the terms set in Decree 32/2024/ND-CP. In this case, the selection of the investor to build the technical infrastructure for the industrial cluster is carried out according to a specific process.
Selection of owners of projects on construction of technical infrastructure of cottage industry zones is a content of the appraisal for the establishment or expansion of cottage industry zones and shall be carried out during the process of establishment or expansion of cottage industry zones. In case the dossier of request for establishment or expansion of a cottage industry zone submitted by an enterprise, a cooperative or an organization complies with this Decree, the selection of the owner of the project on construction of technical infrastructure of the cottage industry zone shall be carried out as follows:
The provincial-level People’s Committee shall establish a council for appraisal for the selection of the owner of the project on construction of technical infrastructure of cottage industry zone (the council shall be composed of a leader of the provincial-level People’s Committee as its chairperson, leaders of the provincial-level Department of Industry and Trade and Department of Planning and Investment as its deputy chairpersons, and representatives of a number of related provincial-level departments and agencies as its members; the council secretary shall be a representative of a specialized division of the provincial-level Department of Industry and Trade who is not a member of the council).
The council shall carry out evaluation using a 100-point grading scale with the following criteria: plan on investment in construction of technical infrastructure (15 points at most); plan on management and protection of the environment in the cottage industry zone (15 points at most); capacity and experience of the enterprise or cooperative (30 points at most); and financial plan for investment in construction of technical infrastructure (40 points at most).
Based on practical conditions of the locality and relevant regulations, the council shall agree on working principles and methods, contents of each criterion and corresponding maximum score as appropriate.
In case the enterprise, cooperative or organization scores 50 points or higher, the provincial-level People’s Committee shall consider and decide to assign it to act as the owner of the project on construction of technical infrastructure of an cottage industry zone in the decision on the
establishment or expansion of the cottage industry zone
(in case there are two or more enterprises, cooperatives or organizations applying to be assigned to act as the owner of the project on construction of technical infrastructure of an cottage industry zone, the one having scored the highest point shall be assigned to act as the project owner;
in case there are two or more enterprises, cooperatives or organizations scoring the equal highest points, the enterprise, cooperative or organization that is proposed by the council chairperson shall be selected).
2. Dossiers of request for establishment or expansion of cottage industry zones
According to Clause 1, Article 9 of Decree 32/2024/NĐ-CP on the application for the establishment or expansion of industrial clusters, businesses, cooperatives, and organizations need to follow a series of steps and prepare specific documents.
1. A dossier of request for establishment or expansion of a cottage industry zone must comprise:
a/ A written request for establishment or expansion of a cottage industry zone, made by the district-level People’s Committee. In case a cottage industry zone is located in two district-level administrative units or more, the provincial-level People’s Committee shall assign the People’s Committee of a district-level administrative unit to submit a written request for establishment or expansion of a cottage industry zone;
b/ An enterprise’s, a cooperative’s or an organization’s written request for acting as the owner of the project on construction of technical infrastructure of the cottage industry zone (stating a commitment not to violate law and to bear all costs and risks in case its request is disapproved), enclosed with a report on investment in establishment or expansion of the cottage industry zone and a map showing the location and boundaries of the cottage industry zone;
c/ A valid copy of the document proving the legal status of the enterprise, cooperative or organization requesting for acting as the owner of the project on construction of technical infrastructure of the cottage industry zone;
d/ Valid copies of the documents proving financial capacity of the requesting enterprise, cooperative or organization, including at least one of the following documents: the last two years’ financial statements of the requesting enterprise, cooperative or organization; the parent company’s commitment to provide financial assistance; a financial institution’s commitment to provide financial assistance; guarantee on financial capacity of the requesting enterprise, cooperative or organization; and other documents (if any) proving financial capacity of the requesting enterprise, cooperative or organization;
dd/ A valid copy of the document proving experience of the requesting enterprise, cooperative or organization and other relevant documents (if any).
2. Major contents of a report on investment in the establishment or expansion of a cottage industry zone:
a/ Legal grounds, necessity, assessment of the conformity and satisfaction of conditions for establishment or expansion of the cottage industry zone; labor demand; impacts of industrial parks and other cottage industry zones in the locality on the investment effectiveness and occupancy rate of the cottage industry zone;
b/ Land-use status quo, conditions for land recovery, estimated needs for land use, orientations on arrangement of sectors and trades that are capable of connecting and supporting one another in production; land use structure and estimated investment to be attracted into the cottage industry zone; assessment of the possibility of connection of technical infrastructure inside and outside the cottage industry zone;
c/ Objectives, land area, location and scope of investment in the construction of technical infrastructure; analysis and selection of the plan on investment in the construction of technical infrastructure facilities; plan on ground clearance and resettlement support (if any); time limit and schedule for project implementation suitable to reality and the capability to mobilize resources; plan and schedule of attraction of investment and relocation and occupancy rate of the cottage industry zone; plan on prevention and control of pollution, degradation and depletion of water sources; plan for fire protection and rescue in the cottage industry zone; and plan on housing for workers in the cottage industry zone;
d/ Identification of the legal status, capacity and experience of the enterprise, cooperative or organization requesting for acting as the owner of the project on construction of technical infrastructure in the cottage industry zone; estimated total investment, structure of and capability to balance or mobilize funding sources for implementing the project;
dd/ Costs of maintenance and operation of technical infrastructure facilities and other relevant expenses; methods of management, operation and use after these facilities are put into use;
e/ Preliminary assessment of environmental impacts in accordance with the law on environmental protection; identification of the possibility to receive and treat wastes around the area where the cottage industry zone is expected to be established or expanded; projected waste sources, and environmental impacts of sectors and trades projected to be attracted into the cottage industry zone, and the environmental management plan; assessment of the conformity in terms of water source functions;
g/ Proposed investment incentives, special mechanisms and policies (if any); analysis and evaluation of socio-economic impacts and efficiency of the cottage industry zone; and implementation solutions.
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*. Which investment projects does the Government apply special incentives and support for?
In order to facilitate and encourage the development of important investment projects that are particularly significant to the economy, the Investment Law 2020 has stipulated special preferential policies and support for these projects.
Regulations under Article 20, Investment Law 2020
1. The Government shall decide to apply special investment incentives and assistance with a view to encouraging the development of some investment projects that exert significant socio-economic effects.
2. Objects eligible for special investment incentives and assistance specified in Clause 1 of this Article include:
a) Projects on investment in establishment (including the expansion of such establishment project) of innovation centers and research and development centers with a total investment capital of at least VND 3,000 and disbursing at least VND 1,000 billion within 03 years from the issuance date of the investment registration certificate or the approval for investment guidelines; the National Innovation Center established under the Prime Minister's decision;
b) Investment projects in the business line eligible for special investment incentives with an investment capital of at least VND 30,000 billion and disbursing at least VND 10,000 billion within 03 years from the issuance date of the investment registration certificate or the approval for investment guidelines.
3. Level and duration of application of special investment incentives are prescribed by the Law on Corporate Income Tax and the Law on Land.
4. Forms of special investment assistance are the same as those mentioned in Clause 1 Article 18 of this Law.
5. Special investment incentives and assistance set out in this Article do not apply to:
a) any investment project that has been granted the investment certificate, the investment registration certificate or the decision on investment guidelines before the effective date of this Law;
b) the investment projects mentioned in Clause 5 Article 15 of this Law.
6. The Government shall request the National Assembly to decide to apply investment incentives other than those specified in this Law and other laws if it is necessary to encourage the development of a project of special importance or a special administrative - economic unit.
7. The Government shall elaborate this Article.
*) What are the Forms of investment assistance?
The special investment support form specified in Clause 4, Article 20 of the Investment Law 2020 aims to promote and facilitate investment activities, especially in the country's important and prioritized sectors. To ensure effectiveness and fairness, the law has stipulated special investment support forms according to Clause 1, Article 18 of the Investment Law 2020.
Accordingly, the forms of investment support include the following:
- Assistance in development of technical infrastructure and social infrastructure inside and outside the perimeter of the investment project;
- Assistance in training and development of human resources;
- Credit assistance;
- Assistance in access to business premises; assistance in relocation of business establishments under decisions of regulatory agencies;
- Assistance in science, technology and technology transfer;
- Assistance in market development and information provision;
- Assistance in research and development.
The Government shall, according to the orientation for socio-economic development and the ability to balance the state budget in each period, specify the forms of investment assistance in Clause 1 of this Article which is provided for hi-tech enterprises, science and technology enterprises, science and technology organizations, enterprises investing in agriculture and rural areas, enterprises investing in education, dissemination of laws and other entities.
*) Which investment projects do not apply special investment incentives and support?
According to the provisions of Clause 5, Article 20 of the Investment Law 2020 and Clause 5, Article 15 of the Investment Law 2020, special incentives and support for investment projects do not apply in the following cases:
– For investment projects that have been granted Investment Certificates, Investment Registration Certificates or Investment Policy Decisions before the effective date of the Investment Law 2020, that is, before January 1, 2021. This means that investment projects approved before the effective date of the Investment Law 2020 will not enjoy special incentives and support under the provisions of the new Investment Law.
- Projects on investment in mineral mining
- Projects on investment in manufacturing/sale of goods/services subject to special excise tax according to the Law on Special Excise Tax, except for projects on manufacturing of automobiles, aircrafts and yachts.
- Projects on investment in commercial housing construction prescribed by the Law on Housing.
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1. Escrow deposit
Under Article 330 of the Civil Code 2015 on escrow deposit:
Article 330. Escrow deposit
1. Escrow deposit is an act whereby an obligor deposits a sum of money, precious metals, gems or valuable papers into an escrow account at a credit institution to secure the obligation fulfillment.
2. In cases where the obligor has failed to perform or has improperly performed an obligation, the obligee shall be entitled to receive payment and compensation for damage caused by the obligor from the bank where the escrow deposit is affected, after deducting the bank service charges.
3. The procedures for making deposits and making payments shall be as provided by the law.
Thus, an escrow deposit is an act whereby an obligor deposits a sum of money, precious metals, gems or valuable papers into an escrow account at a credit institution to secure the obligation fulfillment.
Referring to Article 39 of Decree 21/2021/ND-CP, the escrow deposit is defined as follows:
2. Rights and obligations of parties in escrow deposit
The rights and obligations of parties in escrow deposit are specified in Article 40 of Decree 21/2021/ND-CP as follows:
1. Credit institutions where escrow deposits are made have the rights and obligations to:
- benefit from service fee;
- request parties holding rights to comply with agreements on escrow deposits to receive payment for obligations from escrow deposits;
- pay for obligations at request of parties holding rights within the scope of escrow deposits;
- return remaining escrow deposits to parties making deposit after paying for obligations at the request of parties holding rights and when terminating escrow deposit;
- other rights and obligations agreed upon or prescribed by the Civil Code or the relevant law provisions.
Parties making escrow deposit have rights and obligations:
- agree with credit institutions where escrow deposits are made regarding payment conditions as per commitment with parties holding rights;
- request credit institutions where escrow deposits are made to return deposits according to Point d Clause 1 of this Article; may return interest in case agreed upon with credit institutions where escrow deposits are made;
- withdraw, add deposits or include deposits in other civil transactions under consent of parties holding rights;
- submit deposits in credit institutions where deposits are made;
- other rights and obligations agreed upon or prescribed by the Civil Code or the relevant law provisions.
Parties holding rights in escrow deposits have rights and obligations to:
- request credit institutions where deposits are made to pay for obligations in an adequate and timely manner;
- comply with procedures at the request of credit institutions where escrow deposits are made when executing right under Point of this Clause;
- other rights and obligations agreed upon or prescribed by the Civil Code or the relevant law provisions.
3. Cases of deposit in investment
In accordance with Clause 1, Clause 4, Article 77 of the 2020 Investment Law, Clause 1, Article 25 of the Decree No. 31/2021/ND-CP
Investors shall make deposits or obtain bank guarantees for deposit obligations for securing the implementation of projects that request the State to allocate or lease land or to permit change of land use purposes, except in the following cases:
- Investors win the auction of land use rights to implement investment projects that are allocated land with land use levy or leased land by the State with one-off payment of land rental for the entire lease period;
- Investors win the bidding for the implementation of land-using projects;
- Investors are allocated or leased land by the State on the basis of receiving the transfer of investment projects for which deposits have been made or capital contribution or mobilization has been completed according to the schedule indicated in the written approvals of investment policy and investment registration certificates;
- Investors are allocated or leased land by the State to implement investment projects on the basis of receiving land use rights or land-attached assets transferred from other land users.
- Investment projects have been approved or leased in accordance with law provisions before July 01, 2015 and in the cases of guarantee for investment project implementation.
Therefore, investors must make deposit in the implementation of projects of land allocation and lease or projects that are allowed to transfer the land-use purpose.
Note: In case an investor adjusts objectives or implementation schedule of an investment project, or changes the land use purpose after October 01, 2021, it/he/she shall pay a deposit or obtain a bank guarantee on the obligation to pay a deposit.
4. Forms of deposit for implementation of investment projects
The investor's obligation to ensure the project implementation shall be performed on the basis of a written agreement between the investment registration agency and the investor (Clause 1, Article 26 of the Decree No. 31/2021 of the Government).
Accordingly, the agreement on security for implementation of investment projects includes the following principal contents:
- Name of the project, objectives, location, scale, investment capital, implementation schedule, operation duration of the investment project as prescribed in the decision on approval of investment policy, decision on concurrent approval of investment policy and investor or investment registration certificate;
- Security measures for implementation of investment projects;
- The amount of security for implementation of investment projects;
- Time and term of security for implementation of investment projects;
- Conditions for reimbursement, adjustment or termination of security for implementation of investment projects;
- Handling measures in the cases;
- Other rights, obligations and responsibilities of parties;
- Other contents as agreed by both parties but must not be contrary to laws.
5. Time of guaranteeing project execution specified
 In accordance with the Clause 5, Article 26 of the Decree No. 31/2021/ND-CP
- The investor makes a deposit or submits a guarantee certificate from a credit institution on the escrow obligation after being issued with the Decision approving the investment policy and concurrently with the investor approval or the Decision on approval of the investment policy. investors or the decision approving the auction winning result and before organizing the implementation of the compensation, support and resettlement plan approved by the competent authority (in case the investor does not make an advance payment). compensation, support, and resettlement) or before the time of issuing the decision on land allocation, land lease, permission to change the land use purpose (for the case that the investor has advanced the compensation, support support, resettlement or where the investor is selected to implement the project through an auction of land use rights and is leased land by the State and paid annual land rents);
- The project implementation security period is counted from the time of performing the obligations specified at Point a of this Clause to the time the deposit is returned to the investor or remitted into the state budget or up to the date of termination of the guarantee. 
In accordance with the Clause 7, Article 26 of the Decree No. 31/2021/ND-CP: In case an investor advances compensation, support and resettlement money to a competent state agency for implementation of the approved compensation, support and resettlement plan, the following procedures shall be followed:
- In case the amount advanced is equal to or greater than the project performance security as prescribed in Clause 2 of this Article, the investor is not required to immediately pay the deposit or the guarantee certificate of the credit institution at the time of payment. Points specified at Point a, Clause 5 of this Article;
- In case the advanced amount is lower than the project performance guarantee as prescribed in Clause 2 of this Article, the investor must pay the deposit or submit a guarantee certificate from a credit institution equal to the difference. between the amount already paid and the security level for the project implementation as prescribed in Clause 2 of this Article at the time specified at Point a, Clause 5 of this Article;
* In accordance with the Clause 6, Article 26 of the Decree No. 31/2021/ND-CP:For multi-stage investment projects, the deposit and refund of the deposit or the payment, adjustment or termination of the guarantee shall be applied to each stage of project implementation as prescribed in the Guarantee Agreement. undertake the project. Investors can transfer the remaining deposit or guarantee of the previous period to secure the project implementation for the next stage without necessarily returning the remaining deposit or terminating the validity of the project. guarantee of the previous period and additionally pay the difference between the deposit or guaranteed amount for the next period and the deposit or guaranteed amount of the previous period (if any).
6. Level of deposit for implementation of investment projects
In accordance with the Clause 2, Article 43 of 2020 Investment Law and Clause 2, Article 26 of the Decree No. 31/2021/ND-CP
- Depending on the size, characteristics and implementation schedule of each investment project, the level of deposit for securing the implementation of an investment project shall range between 1% and 3% of the project’s investment capital, in particular:
+ For the capital portion of up to VND 300 billion, the security percentage is 3%;
+ For the capital portion of between over VND 300 billion and 1,000 billion, the security percentage is 2%;
+ For the capital portion of over VND 1,000 billion, the security percentage is 1%.
- In case an investment project is to be implemented in different stages, deposit amounts shall be paid and reimbursed according to the implementation progress of the investment project, except cases ineligible for deposit reimbursement.
Within that, the project’s investment capital includes: Land use levy, land rental paid to the state and construction costs of works under investment projects that investors are obliged to hand over to the state for management after completion (if any).
At the time of signing the agreement on security for implementation of an investment project, if the construction costs of works handed over to the state have not yet been determined accurately, the investment registration agency shall base on cost estimate as stated in the project proposal made by the investor to determine the security for implementation of such investment project.

1. Does a rooftop solar power project form fixed assets?
In accordance with the Clause 1, Article 3 of Circular 45/2013/TT-BTC, standards and identification of fixed assets are prescribed as follows:
Tangible fixed assets:
- Means of labor are the tangible assets with independent structure, or a system of many individual parts of assets linked to perform one or a certain number of functions and without any part, the system can not work, and if meet the following three criteria they shall be regarded as fixed assets:
+ It is certain to gain economic benefit in the future from the use of such asset;
+ Having the utilization time of over 01 year.
+ Primary price of assets must be determined reliably, and is valued at 30,000,000 (thirty million) dong or more.
- For example:
+ Factory production machines.
+ Office computer system.
- In case a system includes many individual components of assets linked together, in which each component has different utilization time and without any component the entire system still perform its main operating function its main activity but due to requirements on management and use of fixed asset requiring separately managed asset division, each asset division if simultaneously satisfying three criteria of fixed assets shall be regarded as independent tangible fixed assets
Standards and identificaton of intangible assets:
- All actual costs spent by enterprises simultaneously satisfyiing all three criteria specified in Clause 1 of this Article, without forming tangible fixed assets are regarded as intangible assets.
- Research and development (R&D) costs do not result in the creation of specific assets.
Based on the provisions of Article 3 of Circular 45/2013/TT-BTC, it can be affirmed that the company's rooftop solar power project has met the conditions to be considered a fixed asset.
– The rooftop solar power project is built with the aim of generating income from selling the generated electricity. This system will contribute to the company’s income through energy cost savings and income from selling electricity to the grid.
2. Tangible fixed assets and intangible fixed assets as prescribed
According to Clause 1 and Clause 2 of Article 2 of Circular 45/2013/TT-BTC, the terms used in this Circular are construed as follows:
- Tangible fixed assets:
+ are means of labor primarily in the physical forms.
+ satisfy the criteria of tangible fixed assets.
+ involved in many business cycle
+ remain original physical forms
+ Example: buildings, structures, machinery, equipment, means of transportation ...
- Intangible fixed assets:
+ these assets are not physical forms
+ represents a value of the investment
+ satisfy the criteria of an intangible asset
+ involved in many business cycle
+ example: such as some costs directly related to land use; issuance right, patent, copyright ...
Circular 45/2013/TT-BTC has provided detailed definitions of two important concepts: tangible fixed assets and intangible fixed assets according to financial and accounting regulations. Tangible fixed assets include physical means of labor such as houses, machinery, transportation, maintaining their original form and participating in many business cycles. In contrast, intangible fixed assets have no physical form and represent invested value, participating in many business cycles. This helps businesses and management agencies understand the nature and role of each type of asset, thereby ensuring accuracy and transparency in accounting and financial management.
3. What documents are included in the fixed asset management file?
According to Clause 1, Article 5 of Circular 45/2013/TT-BTC, the principles of fixed asset management in enterprises are specifically regulated: All fixed assets in enterprise must have a separate record (including record of delivery of fixed assets, contracts, invoices of purchase of fixed assets, and other related papers). Each fixed asset must be classified, numbered with its own card, monitored in detail and reflected in the monitoring book of fixed assets.
Specifically, each fixed asset needs to be classified, numbered and have its own card, and must be tracked in detail for each fixed asset item and reflected in the fixed asset tracking book. This helps to manage assets effectively, from controlling the status and location of each specific asset to assessing their value and potential use in the business process. At the same time, keeping separate records for each fixed asset is also the basis for closely checking, reviewing, and maintaining assets.
4. Standards and identification of fixed assets
Standards and identification of fixed assets according to Circular 45/2013/TT-BTC are clearly stipulated as follows:
– Labor materials:
+ Are tangible assets with independent structures or a system of many separate asset parts linked together to perform one or several specific functions.
+ Considered according to the following three criteria:
+ It is certain to gain economic benefit in the future from the use of such asset;
+ Having the utilization time of over 01 year.
+ Primary price of assets must be determined reliably, and is valued at 30,000,000 (thirty million) dong or more.
– The system consists of many asset parts:
+ In this case, each component has a different usage time.
+ If each part simultaneously satisfies the three criteria of a fixed asset, and if a part is missing but the entire system can still perform its main function, each part of the asset is considered an independent tangible fixed asset.
– Animals that work and/or produce products: Each animal that simultaneously meets the three criteria of a fixed asset is considered a tangible fixed asset.
– Perennial garden: For perennial gardens, each piece of garden or single tree that simultaneously satisfies the three criteria of fixed assets is considered a tangible fixed asset.
The standard for identifying fixed assets is determined by ensuring that they meet three important conditions: they are certain to gain economic benefits in the future, have a useful life of more than 1 year, and the historical cost of the asset must be reliably determined with a value of 30,000,000 VND or more. For systems consisting of multiple asset components, special provisions are made to determine the status of each component component and when they can be considered independent fixed assets.

1. Regulations on economic organization.

There isn't a universally accepted definition of an economic organization yet, and the regulations concerning economic organizations will depend on the specific legal texts that define them, such as:
In Clause 27 of Article 3 of the 2013 Land Law, it outlines the types of economic organizations, including enterprises, cooperatives, and other economic organizations as defined by civil law, except for foreign-invested enterprises.
In Clause 21 of Article 3 of the 2020 Investment Law, it is also stated that an economic organization is an organization set up and operating in accordance with the laws of Vietnam, which includes enterprises, cooperatives, cooperative unions, and other organizations that engage in investment and business activities.
- So, if we look at the definitions above, we can see that an economic organization will have some characteristics like this:
+ Legally registered in accordance with the law.
- Engaged in production and business activities aimed at economic development.
+ Has a clear charter and organizational structure.
+ Has a specific name and address, as well as assets for operation.
+ Has legal status.
+ Is not a foreign-invested enterprise.
Basically, economic organizations have a lot in common with entities that have legal status. However, compared to those with legal status, economic organizations are a smaller subset. We can also understand that the concept of an economic organization doesn’t include businesses with foreign investment, so it pertains to managing domestic companies. As there is currently no legal document that defines whether an organization qualifies as an economic organization or not, we can only rely on the provisions of the 2013 Land Law to determine this. If the organization is not listed in the 2013 Land Law, then it won't be classified as an economic organization.
– The roles of economic organizations are as follows:
+ Creating jobs, increasing income, and improving the living standards of workers.
+ Economic organizations drive growth and development; they are crucial for achieving high and stable growth.
+ The development of economic organizations impacts structural shifts in the national economy and within each sector.
+ The advancement of economic organizations helps address social issues more effectively.
– Examples of economic organizations:
+ Economic organizations include businesses established under corporate law, such as joint-stock companies, single-member limited liability companies, and multi-member limited liability companies, etc.
+ Economic organizations also include entities formed under cooperative law, such as cooperatives and cooperative unions.
+ Economic organizations set up according to investment law include wholly foreign-owned enterprises, joint ventures, etc. (according to Clause 23, Article 3 of the 2020 Investment Law, a foreign-invested economic organization is one that has foreign investors as members or shareholders).
2. Regulations on the establishment of economic organizations.
– Establishing an economic organization involves investors putting in capital to create an entity for business activities, which can include both domestic and foreign investors. Therefore, when investing to establish an economic organization, the first thing to determine is the participating investors since each type will have different requirements leading to different establishment documentation.
– According to Clause 1, Article 22 of the 2020 Investment Law regarding the establishment of economic organizations:
+ Domestic investors establish economic organizations in accordance with the law on enterprises and relevant regulations for each type of economic organization;
+ Foreign investors must meet market access conditions according to the regulations of the 2020 Investment Law when establishing economic organizations;
+ Before establishing an economic organization, foreign investors must have an investment project and follow the procedures to obtain or amend the Investment Registration Certificate, except in cases of setting up small and medium-sized innovative startups and startup investment funds according to the regulations on supporting small and medium-sized enterprises.
- So, it can be seen that according to the investment law regulations, domestic investors looking to establish an economic organization will have to follow the rules set out in the Enterprise Law. For foreign investors, before setting up a business under the Enterprise Law, they must apply for and adjust their Investment Registration Certificate. And one important thing to note is that besides the investment law, which stipulates regulations for small and medium enterprises and innovative startups, as well as the funds for innovative startups established under the law supporting small and medium enterprises, there are also other relevant decrees and circulars guiding these matters.
- Individuals and organizations just need to meet the requirements and submit an application to establish an economic organization, and then the competent authority will decide whether to allow the establishment of the economic organization or not.
3. Implementing the investment project.
– According to Clause 4, Article 3 of the Investment Law 2020, an investment project is a collection of proposals to invest medium or long-term capital to carry out business activities in a specific area over a defined period. The investment project serves as the basis for competent state agencies to manage and grant investment licenses. It will also serve as the foundation for investors to carry out investment activities and assess the project's effectiveness. It is particularly important for persuading the investor to make a decision to invest and for financial institutions to fund the project.
– An investment project is a set of documents that detail and systematically present activities and costs according to a plan to achieve specific results and objectives in the future.
– When an investor wants to implement an investment project, they must follow the procedures specified in the Investment Law 2020.
+ As a principle, the implementation must adhere to the project execution principles outlined in Article 42 of the Investment Law 2020.
+ Regarding ensuring the project's execution by the investor, it must follow Article 26 of Decree 31/2021/ND-CP of the Government, which specifies and guides the implementation of certain provisions of the Investment Law.
– The procedures for executing an investment project comprise 3 steps:
Step 1: Preparing for investment.
The investor proactively prepares plans and proposals to seek investment approval.
Step 2: Carrying out the procedures for investment.
The investor proceeds with the procedures to obtain investment approval from the competent authorities.
Step 3: Implementing the investment project.
+ The parties coordinate to execute the investment project according to the assigned plan and schedule.

1. Are foreign investors restricted in terms of industries or business sectors?
Based on Clause 2 of Article 9 of the Investment Law 2020, the regulations regarding sectors, industries, and conditions for market access for foreign investors are as follows:
- Legal basis: Based on laws, resolutions of the National Assembly, ordinances, resolutions of the Standing Committee of the National Assembly, government decrees, and international treaties to which the Socialist Republic of Vietnam is a member.
– List of industries and professions restricted from market access: The government will announce a list of industries and professions restricted from market access for foreign investors. This list includes:
- Sectors and professions not allowed in the market: These are sectors and professions where foreign investors are not permitted to participate or face special restrictions regarding their rights and responsibilities.
- Industries and professions with conditional market access: These are the sectors that foreign investors can enter but must comply with specific regulations to ensure national security, environmental protection, and the interests of the local community.
These regulations are designed to ensure that foreign investors' activities comply with Vietnamese law and the international commitments that Vietnam has entered into, while also keeping the investment process sustainable and in harmony with the country's economic and social development.
According to point 5 of Section 1 of Official Letter 8909/BKHĐT-PC in 2020, the regulations regarding sectors, professions, and conditions for foreign investors to access the market are as follows:
The sectors and conditions for foreign investors' market access are specified in Article 9 of the 2020 Investment Law: Specifically, the sectors that foreign investors can or cannot participate in will be determined based on the provisions of Article 9 of the 2020 Investment Law. These sectors may include areas where foreign investors have rights and responsibilities or where there are limitations on their rights and responsibilities when participating.
The conditions for market access for foreign investors will be evaluated based on the current legal documents: These conditions will be assessed and reviewed according to the current legal texts, including laws, resolutions from the National Assembly, ordinances, resolutions from the Standing Committee of the National Assembly, and decrees from the Government. At the same time, international treaties to which the Socialist Republic of Vietnam is a member will also be considered to ensure consistency and compliance with international regulations during the market access process for foreign investors.
According to Article 15 of Decree 31/2021/ND-CP, it stipulates the sectors and occupations that are restricted for foreign investors to access the market as follows:
- Restricted sectors and professions for foreign investors: The sectors, professions, and conditions for foreign investors’ market access, as well as the restrictions on market access for those sectors and professions, are stipulated in laws, resolutions of the National Assembly, ordinances, resolutions of the Standing Committee of the National Assembly, government decrees, and international investment treaties. The list of sectors and professions restricted from market access for foreign investors is published in Appendix I of this decree.
- Market access conditions for foreign investors: The market access conditions for foreign investors are applied based on the forms outlined above and are published and updated according to the regulations in Article 18 regarding the publication and updating of market access conditions for foreign investors.
- Market access conditions for foreign investors and foreign-invested economic organizations:
In addition to market access conditions for the specified industries and professions, foreign investors and foreign-invested economic organizations must meet the following conditions (if any) when conducting investment and business activities in Vietnam:
+ Using land, labor; natural resources, minerals;
+ Producing and supplying goods, public services, or state-exclusive goods and services;
+ Owning and doing business in housing and real estate;
+ Applying various forms of state support and subsidies for certain sectors, industries, or regional development;
+ Participating in the privatization programs and plans for state-owned enterprises;
+ Other conditions as stipulated in laws, resolutions of the National Assembly, decrees of the Standing Committee of the National Assembly, government decrees, and international treaties on investment that restrict or prohibit market access for foreign-invested economic entities.
2. How is the profit of foreign investors transferred abroad regulated?
According to Article 12 of the Investment Law 2020, foreign investors are assured the right to transfer assets out of Vietnam after fulfilling their financial obligations to the Vietnamese State as required by law.
First, foreign investors need to fully meet their financial obligations to the Vietnamese State. Once they have completed these financial responsibilities, they are entitled to transfer a range of assets abroad, including the invested capital in projects in Vietnam and any investment liquidation proceeds upon project completion or dissolution as per legal regulations.
Foreign investors also have the right to transfer abroad income from business investment activities in Vietnam. This includes any earnings they generate from business activities they have invested in within Vietnamese territory.
Additionally, foreign investors are allowed to transfer abroad money and other assets that they legally own in Vietnam according to the law. This includes any funds and other assets that foreign investors are legally permitted to own while conducting their business operations in Vietnam.
3. What is a foreign investor?
- According to Clause 18, Article 3 of the Investment Law 2020, foreign investors are defined as follows:
A foreign investor is an organization or individual engaging in business investment activities, including:
– Domestic investors: Organizations and individuals carrying out business investment activities within the territory of Vietnam.
– Foreign investors: Organizations and individuals engaged in business investment activities excluding domestic investors.
– Economic entities with foreign investment: Economic organizations established under Vietnamese law, with foreign investment, conducting business investment activities in Vietnam.
According to Clause 19, Article 13 of the Investment Law 2020, the terms are explained as follows:
In this law, the term “foreign investor” is defined as: A foreign investor is an individual with foreign citizenship or an organization established under the laws of a country outside of Vietnam. This entity engages in business investment activities in Vietnam, encompassing all forms of investment as per the provisions of the Investment Law 2020. Thus, a person or organization is considered a foreign investor when they have foreign citizenship or are established under the laws of a country other than Vietnam and engage in investment activities in Vietnam as stipulated by the law.

1. Investor selection documents for projects that require bidding
Nowadays, when carrying out projects, choosing investors through bidding plays a crucial role, especially when the projects are in fields regulated strictly by law. In this context, establishing specific regulations for bidding document templates cannot be overlooked. Thus, Circular 03/2024/TT-BKHĐT, issued on March 6, 2024, by the Ministry of Planning and Investment, has come into effect, laying out clear regulations on the bidding documents for selecting investors for projects that require tendering according to industry management laws.
One of the outstanding points of this Circular is the clear specification of particular document templates, including:
– Notice of invitation for interest, Invitation document: This is the first step in the bidding process where organizations and individuals interested will be informed and invited to participate. This notice needs to be transparent, detailed, and public to create equal conditions for all interested parties.
– Single-stage, single-envelope bidding document template: This method has bidders preparing and submitting their proposals all at once in a single envelope. In this approach, both technical and financial proposals are submitted in one document. This requires bidders to meticulously organize and prepare their documents, including detailed technical aspects as well as accurate and transparent financial information.
– Single-stage, two-envelope bidding document template: The two-envelope stage is a different approach, where the inviting party specifies particular requirements in the bidding documents. Interested bidders or investors must submit two separate sets of documents at the same time. One set will contain the technical proposals, while the other set will include financial proposals.
Clearly defining such tender documents not only ensures that the bidding process is fair and transparent but also helps stakeholders better understand the specific processes and requirements they need to follow. This not only facilitates project implementation but also contributes to improving the quality and efficiency of investment activities and socio-economic development.

Clearly defining such tender documents not only ensures that the bidding process is fair and transparent but also helps stakeholders better understand the specific processes and requirements they need to follow. This not only facilitates project implementation but also contributes to improving the quality and efficiency of investment activities and socio-economic development.
2. New regulations on the principles of applying tender document templates for selecting investors to execute projects.
In the implementation of projects, selecting contractors through bidding methods is an indispensable part to ensure transparency, fairness, and effectiveness. In this context, clear regulations on tender document templates are necessary to ensure that this process runs smoothly and legally. Circular 03/2024/TT-BKHĐT from the Ministry of Planning and Investment has set out specific regulations on tender document templates for various types of projects, especially for projects that apply broad bidding methods. .
- Template for Notification of Invitation to Express Interest and Invitation Documents 2024: This template can be generally applied to various types of projects, making the process of notifying and inviting interest from organizations and individuals easier and more transparent. Using this template helps ensure consistency and quality in the notifications, thereby creating an equal opportunity for all interested parties. .
- Template for One-Stage, One-Envelope Bidding Documents 2024: For projects applying broad and limited bidding methods under a one-stage, one-envelope approach, the use of this template is mandatory. However, its use must comply with the provisions of the 2023 Bidding Law and Decree 23/2024/NĐ-CP. This ensures that the bidding process is conducted legally and fairly. .
– 2024 Single-Stage Two-Envelope Bidding Documents Template: This template will be used for projects applying the single-stage two-envelope method of open bidding. This template must also be strictly followed to ensure accuracy and transparency in the process of evaluating and selecting contractors. .
Note that the italicized content in the bidding documents templates is for guidance and illustration purposes only for the parties involved. However, parties involved in the bidding process must be clearly aware of their responsibilities in complying with relevant legal regulations. This is extremely important to ensure transparency, fairness and legality in the process of selecting contractors and implementing projects. .
3. Regulations on selecting investors to implement projects in which cases bidding must be organized.
Decree 23/2024/ND-CP is issued with the purpose of guiding and adjusting the provisions of the Bidding Law related to the selection of investors to implement projects in cases where bidding must be organized according to the provisions of the law on industry and field management. With many provisions, this decree sets out specific and important guidelines to ensure transparency, fairness and efficiency in the process of selecting investors. .
- Ensuring competition and incentives: Clause 6 of Article 6 and Article 10 of this decree focus on ensuring competition and providing incentives in the process of selecting investors. This ensures that the process of selecting investors is not only fair but also encourages healthy competition in the market. .
– Selection costs and selection methods: Clause 3 of Article 15 and Clause 4 of Article 35 of this Decree provide guidance on cost management during the investor selection process as well as selection methods appropriate to each specific case. .
– Process and procedures: Clause 3 of Article 46 and Clause 5 of Article 50, Point c of Clause 2 of Article 84 of this Decree focus on specific processes and procedures in the process of selecting investors online, including the national database and cases of not bidding to select investors on the National Bidding Network System. .
– Evaluation method and contract content: Clause 5 of Article 62 and Clause 2 of Article 73 of this Decree stipulate the method and criteria for evaluating bidding documents as well as specific content in the business investment project contract. .
– Inspection, supervision and handling of situations: Clause 4 of Article 86 and Article 88 of this Decree define regulations related to inspection and supervision of bidding activities to select investors and handling of situations arising during this process. .
– Transitional provisions: Finally, Clause 2 of Article 96 of this Decree stipulates the transition of projects when applying old and new laws, ensuring continuity and efficiency in project implementation. .

1. What is meant by direct capital account?
Based on the provisions in Clause 3, Article 3 and Clause 5, Article 3 of Circular 06/2019/TT-NHNN, it can be seen that there is clarity and detail in the definition and classification of subjects and concepts related to the opening and use of direct investment capital accounts. These provisions help create a strict legal basis for organizations and individuals to comply with and apply accurately and effectively.
According to the regulations, “Authorized banks” include commercial banks and foreign bank branches that are allowed to conduct business and provide foreign exchange services in accordance with the law. This regulation clearly defines the scope and authority of banks in opening and managing direct investment capital accounts of foreign enterprises and investors.
Ngoài ra, “Tổ chức tín dụng được phép” bao gồm cả ngân hàng và các tổ chức tín dụng phi ngân hàng được phép kinh doanh và cung ứng dịch vụ ngoại hối theo quy định của pháp luật. Mở rộng phạm vi đối tượng có thể thực hiện các giao dịch và quản lý tài khoản vốn đầu tư trực tiếp, từ đó tạo ra sự linh hoạt và lựa chọn cho các doanh nghiệp và nhà đầu tư.
“Direct investment capital account” is defined as a payment account in foreign currency or Vietnamese Dong opened by foreign direct investment enterprises or foreign investors at licensed banks. These accounts are used to conduct transactions related to direct investment activities in Vietnam in accordance with the provisions of law.
The clear definition and classification of subjects and concepts related to direct investment capital accounts in Circular 06/2019/TT-NHNN is an important step in creating a transparent, fair and effective business and investment environment in Vietnam. It not only helps create understanding and compliance with the law but also creates favorable conditions for organizations and individuals to participate in domestic direct investment activities.
2. How many direct investment capital accounts can a foreign investor open?
According to the provisions of Clause 1, Article 5 of Circular 06/2019/TT-NHNN on opening and using direct investment capital accounts, together with Clause 1, Article 8 of the same circular regulating the transfer of money to carry out investment preparation activities, we see a specific and clear process for transferring money from abroad to Vietnam to carry out investment projects.
Accordingly, when foreign investors decide to transfer money from abroad to Vietnam to implement investment projects, they must do so through a direct investment capital account. Requiring money to be transferred through a direct investment capital account also helps ensure transparency and avoid risks related to money laundering and terrorist financing. By adjusting such legal regulations, the government hopes to create a healthy and transparent business environment, while attracting and protecting foreign investment capital in Vietnam.
Based on the provisions of Article 5 of Circular 06/2019/TT-NHNN on Opening and Using Direct Investment Capital Accounts, we can see that the management of direct investment capital accounts of enterprises with foreign direct investment is regulated in a specific and detailed manner. This provision helps create an effective and transparent direct investment capital management mechanism, while ensuring compliance with legal regulations.
According to regulations, a foreign direct investment enterprise is allowed to open multiple direct investment capital accounts, but each currency (including Vietnamese Dong and foreign currency) is only allowed to open one direct investment capital account. This keeps account management organized and convenient, and prevents confusion and risks in account management.
In addition, the regulation also requires that all these direct investment capital accounts must be opened at the same licensed bank. This creates consistency and transparency in the account management process, while helping to minimize risks and increase efficiency in the financial management of enterprises.
This provision not only helps ensure accuracy and transparency in the management of direct investment capital accounts but also facilitates foreign enterprises in operating and investing in Vietnam. In this way, legal regulations on direct investment capital accounts not only ensure compliance with the law but also contribute to attracting and facilitating foreign direct investment.
The specific and detailed regulations on the opening and use of direct investment capital accounts in Circular 06/2019/TT-NHNN are an important part of creating a healthy, transparent and sustainable business and investment environment in Vietnam.
3. Conditions for foreign investors to open direct foreign investment capital accounts in Vietnam
According to the provisions of Clause 2, Article 5 of Circular 06/2019/TT-NHNN on opening and using direct investment capital accounts, foreign investors wishing to open direct investment capital accounts in Vietnam must comply with a number of specific conditions. These conditions aim to ensure transparency, clarity and efficiency in the management and use of investors' direct investment capital accounts.
– First, foreign investors must open a foreign currency direct investment capital account at a licensed bank. This account will be used to conduct legal foreign currency receipt and payment transactions related to foreign direct investment activities in Vietnam.
– Next, depending on the type of foreign currency that the investor uses to contribute investment capital, only one direct investment capital account corresponding to that type of foreign currency can be opened at an authorized bank. Ensure that transactions related to investment capital will be carried out clearly and conveniently.
– If a foreign investor decides to make an investment in Vietnamese Dong, they can open an additional direct investment capital account in Vietnamese Dong at a licensed bank, but this only applies if the investor has previously opened a direct investment account in foreign currency at the same bank.
– For PPP (Public Private Partnership) projects and BBC (Business Cooperation Contract) contracts, foreign investors must open separate investment accounts for each project, regardless of whether they are in the same licensed bank or not. Ensure transparency and effective financial management of public-private investment projects.
The provisions of Circular 06/2019/TT-NHNN on opening and using direct investment capital accounts do not limit the maximum number of direct investment capital accounts that a foreign investor can open. Instead, it creates flexible conditions for investors to comply with and implement legal regulations accurately and effectively during the investment process in Vietnam.

1. Concept of valid copy? Concept of original set of documents?
Clause 1, Clause 2, Clause 6 and Clause 7, Article 2 of Decree 31/2021/ND-CP stipulate as follows:
- A valid copy is a copy issued from the master register or a certified copy from the original by a competent agency or organization or from a national database in case the original information is stored. on the national database of population, business registration and investment.
- Original dossier is a set of dossiers for carrying out investment procedures as prescribed in Clause 7 of this Article, including papers that are originals, originals or valid copies, except foreign-language documents and their English translations. Vietnamese attached.
- A valid application is one that has all the documents specified in the Law on Investment and this Decree and the contents of those papers are fully declared in accordance with law.
- Dossier for implementation of investment procedures means a dossier made by an investor or a competent state agency to carry out the procedures for granting and adjusting the decision on approval of investment policies or the investment registration certificate. investment, outward investment registration certificate and other relevant procedures to carry out investment activities in accordance with the provisions of the Law on Investment and this Decree.
2. Applications for and contents of appraisal of requests for investment guideline approval
Clause 1 and Clause 2, Article 33 of the Investment Law 2020 stipulate as follows:
An application for approval for investment guidelines of an investment project proposed by an investor includes:
- An application form for execution of the investment project, including a commitment to incur all costs and risks if the project is not approved;
- A document about the investor’s legal status;
- 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; commitment of a parent company to provide financial support; commitment of a financial institution to provide financial support; guarantee for the investor’s financial capacity; other document proving the investor’s financial capacity;
- Proposal for the investment project including the following main contents: investor or method of investor selection, investment objectives, investment scale, investment capital and plan for raising capital, location, duration and schedule of the investment project, information about the current use of land in the location of the project and proposed demand for land use (if any), demand for labor, proposal for investment incentives, impact and socio – economic efficiency of the project and preliminary assessment of environmental impact (if any) in accordance with regulations of law on environmental protection.
If the law on construction requires formulation of a pre-feasibility study report, the investor is entitled to submit the pre-feasibility study report instead of a proposal for the investment project;
- If the project does not require the State to allocate or lease out land or to permit land repurposing, a copy of the document regarding the land use rights or other document identifying the right to use the location for execution of the investment project is required to be submitted;
- Contents of the explanation for the technology to be used in the investment project if the project requires appraisal and collection of opinions on the technology in accordance with the Law on Technology Transfer;
- The business cooperation contract if the investment project is executed under a business cooperation contract;
- Other documents relating to the investment project, and requirements on the eligibility and capacity of the investor in accordance with regulations of law (if any).
An application for approval for investment guidelines of an investment project prepared by a competent authority includes:
- An application for approval for investment guidelines;
- Proposal for the investment project including the following main contents: investment objectives, investment scale, investment capital and plan for raising capital, location, duration and schedule of the investment project; information about the current use of land in the location of the project, conditions for land expropriation if the project is subject to land expropriation, expected demand for land use (if any); preliminary assessment of environmental impact (if any) in accordance with the law on protection of the environment protection; expected method of investor selection and conditions applicable to the investor (if any); and special mechanisms and policies (if any).
If the law on construction requires formulation of a pre-feasibility study report, the competent authority is entitled to submit the pre-feasibility study report instead of a proposal for the investment project.
Clause 1, Clause 2 and Clause 3, Article 31 of Decree 31/2021/ND-CP stipulates the dossier and procedures for preparing and appraising proposals for approval of investment policies as follows:
Dossier of application for approval of investment project guidelines shall be made according to the provisions of Clauses 1 or 2, Article 33 of the Law on Investment and Clauses 2 and 3 of this Article.
- Documents and papers explaining the proposal for the form of investor selection as prescribed in Clauses 1 and 2, Article 33 of the Law on Investment, including:
+ A copy of the list of land recovery projects approved by the People's Council of the province; documents proving that the land has been cleared (if any), other explanation documents (if any) in case of proposals for investor selection through auction of land use rights as prescribed by law. land law;
+ A copy of the list of land recovery projects approved by the People's Council of the province; documents proving that the land has not been cleared (if any), other explanation documents (if any) in the case of proposals for investor selection through bidding for projects using land. In this case, the investment project proposal shall preliminarily determine the total cost of project implementation, which is determined on the basis of the total investment of the project in accordance with the law on construction, excluding costs. compensation, support and resettlement.
In case of investor selection bidding according to the provisions of the law on socialization, specialized law, documents explaining the legal grounds and conditions for applying the form of investor selection through bidding according to the provisions of law on investor selection. regulations of law on socialization, specialized law;
+ Documents proving that the project is not on the list of land recovery projects approved by the People's Council of the province; a valid copy of the land allocation decision or the land lease decision, the land use right lease contract or the land use right certificate, the certificate of house ownership and residential land use right, the certificate of land use right land use rights, ownership of houses and other land-attached assets, in case the proposal for approval of investment policies is concurrent with investor approval for investors with land use rights as prescribed in Clause 4 of this Article. Point a, Clause 29, Article XNUMX of the Law on Investment;
+ A valid copy of the document of the People's Committee of the competent level approving the transfer, receipt of capital contribution or lease of land use rights to implement the investment project and valid copies of papers and documents. another copy of the agreement on the use of the location for the implementation of an investment project in case the proposal for approval of the investment policy is concurrent with the investor's approval for the investor receiving the transfer, capital contribution, or lease of the right to use the project. use agricultural land to implement non-agricultural production and business investment projects as prescribed at Point b, Clause 4, Article 29 of the Investment Law.
- For construction investment projects, investment project proposals include:
+ The contents specified at Point d Clause 1 or Point b Clause 2 Article 33 of the Law on Investment; explain the fulfillment of urban development goals and orientations, housing development programs and plans; the proposed division of the project into components (if any); preliminary investment divergence plan to ensure synchronization requirements; preliminary structure of housing products and land fund for social housing development; preliminary plan for investment in construction and management of urban infrastructure inside and outside the project scope, in which preliminary proposals for urban infrastructure that investors retain for business investment, urban infrastructure market that the investor is responsible for handing over or proposing to hand over to the locality for investment projects to build houses or urban areas.
For urban area projects, if the construction law provides for the preparation of a pre-feasibility study report, the investor or a competent state agency may submit or use the pre-feasibility study report instead. for the investment project proposal, in which the preliminary proposal for the part of urban infrastructure that the investor retains for business investment, the part of urban infrastructure that the investor is responsible for handing over or proposing to hand over for local;
+ Contents specified at Point d, Clause 1 or Point b, Clause 2, Article 33 of the Law on Investment, proposed division of component projects (if any) for construction investment projects that do not fall into the cases specified in Clause XNUMX of this Article. point a of this clause.
3. Receiving documents and handling procedures related to investment activities
Receiving documents and handling procedures related to investors' investment activities are carried out as follows:
– The investor is responsible before the law for the legality, accuracy and honesty of the content of the dossier and documents sent to competent state agencies;
– The agency receiving the dossier is responsible for checking the validity of the dossier and is not allowed to request the investor to submit additional documents other than those in the dossier as prescribed in the Investment Law and this Decree;
– In case of a request to amend or supplement the dossier, the dossier receiving agency shall notify the investor in writing once of all the contents that need to be amended or supplemented for each dossier set. The notice must clearly state the basis, content and deadline for amending or supplementing the dossier. The investor is responsible for amending or supplementing the dossier within the time limit stated in the notice of the dossier receiving agency. In case the investor fails to amend or supplement the dossier within the notified time limit, the Ministry of Planning and Investment and the investment registration agency shall consider stopping the processing of the dossier and notify the investor in writing;
– When requesting an investor to explain the contents of the dossier, the Ministry of Planning and Investment and the investment registration agency shall notify the investor in writing and clearly state the deadline for explanation. In case the investor fails to explain as requested, the Ministry of Planning and Investment and the investment registration agency shall consider notifying the investor in writing about the suspension of processing the dossier;
– The time for amending, supplementing documents or explaining by investors about relevant contents in the documents as prescribed in points c and d of this clause and the time for handling administrative violations in the investment field (if any) shall not be counted in the time for handling procedures as prescribed by the Investment Law and this Decree;
– In case of refusal to issue or adjust the Decision on approval of investment policy, Decision on approval of investor, Investment registration certificate, Overseas investment registration certificate and other administrative documents on investment as prescribed in the Investment Law and this Decree, the Ministry of Planning and Investment and the investment registration agency shall be responsible for notifying the investor in writing and stating the reasons.

According to the provisions of Clause 1, Article 85 of Circular 38/2015/TT-BTC:
Imported duty-free goods serving project execution include goods imported as fixed assets; raw materials/supplies, components, semi-finished products serving manufacturing of the preferential projects.
Based on the information you provided, your company imports a production line with large value, serving the production and business activities of the company (creating fixed assets) and is in the investment phase. Therefore, your side is exempted from import tax on this item.
Regarding customs procedures, Clause 2, Article 85 of Circular 38/2015/TT-BTC stipulates:
a) Customs places:
Customs procedures for import shall be carried out at the most Sub-department of Customs affiliated to the Customs Departments where the list of duty-free goods or supervisory Sub-department of Customs of the checkpoint where goods are stored, the port of destination written on the bill of lading, transport contract, or the Sub-department of Customs in charge of project goods affiliated to the Customs Department where goods are imported.
With regard to imports serving petroleum activities that are eligible for tax exemption as prescribed in Clause 11 Article 103 of this Circular, the declarant shall select the most Sub-department of Customs to follow customs procedures;
b) Customs procedures for import of duty-free goods serving project execution are similar to those applied to imports. Besides, the declarant must provide information about the List of duty-free goods on the on the declaration of imports.
The e-customs system will automatically deduct the quantity of imports corresponding to the quantity of goods on the List of duty-free goods. In case of paper list of duty-free goods, the customs authority shall make a monitoring sheet and deduct goods quantity as prescribed in Clause 4 Article 104 of this Circular.
Liquidation, repurposing of duty-free imports:
– Enterprises must have a document stating clearly the reason for liquidation, change of purpose of use, name, code, quantity of goods, tax amount exempted from tax corresponding to the goods to be liquidated, change of purpose of use on the import declaration number, date, month, year sent to the customs authority where the import declaration of tax-exempt goods is registered.
- In case of export, the enterprise shall opens a declaration of exports that suits the purpose;
– In case of sale in the Vietnamese market, donation, gift, or destruction, it is necessary to declare and calculate tax on a new customs declaration according to regulations.
Enterprises carry out customs procedures according to the corresponding import type; tax policies and import goods management policies apply at the time of registration of import goods declarations, except in cases where at the time of carrying out tax-free import procedures, enterprises have fully implemented import management policies.
- If goods are sold to a enterprise eligible for exemption of import duty, the quantity of duty-free goods must be deducted from the monitoring sheet of duty-free goods issued to the transferee enterprise;
- In case of destruction, the enterprise shall take responsibility as prescribed by the environment authority.

POLICIES ON INVESTMENT PROMOTION AND INCENTIVES
GOVERNMENTAL POLICIES
Projects located in industrial parks that are in Nghi Son Economic Zone
- Corporate Income Tax (CIT)
A new project will be granted a 10% CIT preferential rate for 15 years from the first year that company revenue is generated, then a 4-year CIT exemption and a 50% reduction in the CIT amount in the 9 following years.
- Import-export tax incentives: Investment promotion and incentives will depend on invested sectors as follows:
+ Import tax exemption on imported goods to establish fixed assets, specialized transportation means in the technology used for the project, and shuttle service for workers.
+ Import tax exemption for 5 years from the date the project starts operation, producing raw materials, supplies, accessories, and semi-products that are not yet locally produced or local products are not up to the required quality standard.
Projects located outside Nghi Son Economic Zone:
- Corporate Income Tax (CIT): 2-year CIT exemption and 50% reduction in the CIT amount in the 4 following years.
- Import-export tax incentives: Investment promotion and incentives will depend on invested sectors as follows:
+ Import tax exemption on imported goods to establish fixed assets, specialized transportation means in the technology used for the project, and shuttle service for workers.
+ Import tax exemption for 5 years from the date the project starts operation, producing raw materials, supplies, accessories, and semi-products that are not yet locally produced or local products are not up to the required quality standard.
POLICIES OF THANH HOA PROVINCE
- Support shipping lines to open container transport routes internationally through Nghi Son port: VND 500 million /trip.
- Support domestic sea transport vehicles by containers through Nghi Son port: VND 300 million/trip.
- Policy to support businesses with goods transporting containers through Nghi Son port:
+ Containers opening declaration at Thanh Hoa Customs: 20-feet containers: VND 2,000,000/container; 40-feet containers: VND 3,000,000/container.
+ Containers not opening declaration at Thanh Hoa Customs: 20-feet containers: VND 700,000/container; 40-feet containers: VND 1,000,000/container.
INVESTMENT PROCEDURES
1. EVALUATION OF BASIC DESIGN AND TECHNICAL DESIGN RECORDS: Investors submit records to the Department of Construction or Management Department of Specialized Construction Works or specialized departments under People's Committees at district, town, and city levels and Management of Nghi Son EZ and industrial park to evaluate the project's basic design and technical design.
2. APPROVAL OF FIRE PREVENTION AND FIGHTING: Investors submit the records to the Police Department of Fire Prevention and Rescue, Provincial Police, to evaluate fire prevention and fighting.
3. ENVIRONMENTAL PROTECTION: Investors submit the records to the Ministry of Natural Resources and Environment or Provincial People's Committee to evaluate and approve environmental impact assessment reports, register for environmental protection plans with the Department of Natural Resources and Environment, or submit environmental protection commitments to the People's Committee at the district level.
4. CHANGING LAND USE PURPOSE, LAND ACQUISITION AND LAND LEASE; Investors submit records of land use purposes to the Department of Natural Resources and Environment, then the Provincial People's Council to approve the change of land use purposes. Investors submit land lease records to the Department of Natural Resources and Environment, then to the Provincial People's Committee for project implementation for land recovery, land allocation, and land lease.
5. CONSTRUCTION PERMIT : Investors submit construction permit applications to the Department of Construction or Management Board of Nghi Son Economic Zone and industrial zones or People's Committee at district, town, and city levels to receive a construction permit.