Types of investment supervision and assessment reports under investment law 2020 and implementation guiding documents thereon

After fully meeting the market access conditions and entering the Vietnamese market to conduct business activities, the Investor and Economic Organization implementing investment projects are also obliged to prepare and submit supervision and assessment reports to competent authorities to report on the status of investment project activities in Vietnam. Accordingly, Investors and Economic Organizations implementing investment projects must make reports in writing and through the National Investment Information System at the website https://fdi.gov.vn/Pages/ TrangChu.aspx

1. Investment activity reporting regime in Vietnam

Pursuant to Point c, Clause 1, Article 72 of Investment Law No. 61/2020/QH14 (“Investment Law 2020”) stipulates that Investors and Economic Organizations implementing investment projects are one of the subjects that must comply with regulations concerning investment activity reporting. Accordingly, Point a, Clause 2, Article 72 of the Investment Law 2020 stipulates that the periodic reporting regime of Investors and Economic Organizations implementing investment projects must be made quarterly and annually to the Investment Registration Authority and statistical agencies in the area on the implementation of investment projects on the following contents: implemented investment capital, results of business investment activities, information on labor, payment to the state’s budget, investment in research and development, environmental treatment and protection, specialized indicators according to field of activity. 

2. Types of supervision and assessment reports that must be complied with

Pursuant to Clause 8, Article 100 of Decree No. 29/2021/ND-CP stipulating the order and procedures for appraisal of nationally important projects and investment supervision and assessment (“Decree 29/2021/ND -CP”), Investors in projects using other capital sources must prepare and submit it to the Investment Registration Authority and the focal agency to carry out investment supervision and assessment of the locality where the project is implemented. Invest in the following types of reports: 

  • Periodic supervision and assessment reports: every 6 months and the whole year. Accordingly, Investors need to use Form No. 13 – Periodic monitoring and evaluation report during the investment implementation period for investment projects using other capital sources; and Form No. 17 – Periodic Supervision and assessment reports during the exploitation and operation phase for investment projects using other capital sources of Circular No. 05/2023/TT-BKHDT concerning the form of investment supervision and assessment reports; online reporting regime and operational management of information systems on investment supervision and assessment of programmes and projects using state capital (“Circular 05/2023/TT-BKHDT”) to declare data and report periodically every 06 months and the whole year. 
  • Projects pre-adjustment supervision and assessment reports. Accordingly, Investors need to use Form No. 15 – Supervision and assessment report before adjusting investment projects for investment projects using other capital sources of Circular 05/2023/TT-BKHDT to declare and report data before adjusting investment projects. Practice at the Department of Planning and Investment of Ho Chi Minh City, at the time of submitting the application for adjustment of the Investment Registration Certificate, in addition to the prescribed dossier components, Investors and Economic Organizations Project Implementation must also submit this report form No. 15 so that the Department of Planning and Investment of Ho Chi Minh City has a basis for processing the application.  
  • Final assessment report. Accordingly, Investors need to use Form No. 16 – Final assessment report for investment projects using other capital sources of Circular 05/2023/TT-BKHDT to declare the final assessment report data at the end of investment projects. 

3. Liabilities for not complying with regulations concerning supervision and assessment report

In case the Investor or Economic Organization implementing investment project does not comply with the preparation and submission of the above types of investment supervision and assessment reports, based on Article 10 of Decree 122/2021/ND-CP The Government regulates sanctions for administrative violations in the field of planning and investment. Investors and Economic Organizations implementing the Project may be punished for administrative violations as follows: 

Violations  Sanctions  Remedies 
Prepare investment supervision and assessment reports that are not on time or have incomplete content as prescribed  Fine from VND 20,000,000 to VND 30,000,000   Forced to supplement missing content in cases where investment supervision and assessment reports are incomplete. 
Failure to update the Investment Supervision and Evaluation Report to the National Information Portal on Investment Supervision and Evaluation  Forced update of Investment Supervision and assessment Report on the National Information Portal on Investment Supervision and Evaluation. 
Failure to implement periodic investment supervisio and assessment reports as prescribed  Making investment supervision and assessment reports that are not honest or accurate  Forced implementation of periodic investment supervision and assessment reports according to regulations. 
Making investment supervision and assessment reports that are not honest or accurate  Making investment supervision and assessment reports that are not honest or accurate  (None) 

 

Disclaimers:

This article is for general information purposes only and is not intended to provide any legal advice for any particular case. The legal provisions referenced in the content are in effect at the time of publication but may have expired at the time you read the content. We therefore advise that you always consult a professional consultant before applying any content.

For issues related to the content or intellectual property rights of the article, please email cs@apolatlegal.vn.

Apolat Legal is a law firm in Vietnam with experience and capacity to provide consulting services related to Business and Investment and contact our team of lawyers in Vietnam via email info@apolatlegal.com.

Share: share facebook share twitter share linkedin share instagram

Find out how we can help your business

SEND AN ENQUIRY

    Send Contact
    Call Us
    Zalo
    This site is registered on wpml.org as a development site.