Investment security in case of no continuing application of investment incentives

a) Implementation order:

- Step 1: The investor sends a written request for application of measures to ensure investment incentives stipulated in Clause 4, Article 13 of the Investment Law to Department of Planning and Investment.

- Step 2: Department of Planning and Investment decide to apply measures to ensure investment incentives as proposed by the investor within 30 days of receipt of the request of the investor. Where beyond their competence, submit to the competent state agency for consideration and decision.

b) Implementation method:

- Submit documents: directly at the Division of receiving and returning results (in the head office of the Department of Planning and Investment in Hung Yen province); or through the postal system.

- Receive results:

+ A report submitted to the competent authority to consider and decide application of measures to ensure the investment incentives (in case of exceeding competence): at the Division of receiving and returning results (in the head office of the Department of Planning and Investment in Hung Yen Province); or through the postal system.

+ Written decision on application of measures to ensure investment incentives as proposed by the investor in the Archives of the Office of Provincial People's Committee.

   c) Documents:

- Written request application of measures to ensure the investment including the following contents:

+ Name and address of the investor;

+ Investment incentives stipulated in legislation before the new effective legislation including preferential type, preferential conditions, preference levels (if any);

+ The content of the new legislation contains provisions that changed investment incentives;

+ Proposal of the investor on application measures to ensure investment incentives stipulated in Clause 4, Article 13 of the Investment Law.

- A copy of Investment license, Business license, Certificate of investment incentives, Investment certificate, Investment registration certificate, written Decision on Investment Policy or other documents of the competent state agency with regulations on investment incentives (if there is one of such documents).

* Remarks: Individuals/ organizations implementing administrative procedures may submit the copy from the original, certified copy or copy not certified and the original for comparison.

d) Number of documents:

02 sets (at least 01 original set)

đ) Time limit for settlement:

Within 30 days of receipt of a valid documents.

e) Implementing agency:

- Agency directly implementing administrative procedures: Department of Planning and Investment in Hung Yen province;

- Coordinating agency: relevant departments, lines

g) Subjects implementing administrative procedures:

Foreign investor (organization and individuals) owing investment project eligible for investment incentives but abandoned investment incentives (defined in Clause 3 of Article 13 of the Investment Law).

h) Results of administrative procedures:

Written decision on application of measures to ensure investment incentives as proposed by the investor

i) Fees:

None

k) Name of form, declaration:

None

l) Requirements and conditions for procedure implementation:

Simultaneously satisfy the following conditions:

- Foreign investor (organization and individuals) owing investment project eligible for investment incentives but abandoned investment incentives (defined in Clause 3 of Article 13 of the Investment Law).

- Written request addressed to the registration investment agency within 3 years from the date the new request taking effect of abolishing incentives of the investor.

m) Legal basis of administrative procedures:

- Investment Law No. 67/2014/QH13 dated 26/11/2014;

- Decree No. 118/2015/ND-CP dated 12/11/2015 of the Government detailing and guiding the implementation of some articles of the Investment Law;

- Circular No. 16/2015/TT-BKHDT dated 18/11/2015 of the Ministry of Planning and Investment providing the form of investment procedures and investment report in Vietnam.