Chương 5 Luật Đầu tư nước ngoài tại Việt Nam 1996: Quản lý nhà nước về đầu tư nước ngoài

Chapter V

STATE MANAGEMENT OVER FOREIGN INVESTMENT

Article 54.- State management over foreign investment shall include:

1. Formulating the strategy, the all-round plan, plans and policies concerning foreign investment;

2. Issuing legal documents on foreign investment activities;

3. Guiding the branches and localities in carrying out activities related to foreign investment cooperation;

4. Granting or withdrawing Investment Licenses;

5. Stipulating the coordination among State agencies in managing foreign investment activities;

6. Supervising, inspecting and monitoring foreign investment activities.

Article 55.- The Government shall exercise unified State management over foreign investment in Vietnam.

The Government shall stipulate the granting of Investment Licenses by the Ministry of Planning and Investment; shall, basing itself on the socio-economic development planning and plans, the domain, nature and size of each investment project, make decision to assign the granting of Investment Licenses to the qualified People’s Committees of the provinces and the cities directly under the Central Government and stipulate the granting of Investment Licenses to the Industrial and Export Processing Zones.

Article 56.- The Ministry of Planning and Investment as the agency performing the State management over foreign investment shall assist the Government in managing foreign investment activities in Vietnam.

The Ministry of Planning and Investment shall have the following tasks and powers:

1. To preside over the drafting of the strategy and plan for attracting foreign investment and submit them to the Government; elaborate bills and policies concerning foreign investment; coordinate with the other Ministries, ministerial-level agencies and agencies attached to the Government in performing the State management over foreign investment; guide the People’s Committees of the provinces and the cities directly under the Central Government in the observance of laws and implementation of policies on foreign investment;

2. To draw up and systemize a list of investment projects; provide guidance for the investment procedures, and perform the State management over investment promotion and consultancy activities;

3. To receive investment project proposals and preside over the evaluation of and grant Investment Licenses to the investment projects under its jurisdiction;

4. To act as the center for tackling issues arising from the formation, deployment and implementation of foreign investment projects;

5. To evaluate the socio-economic effectiveness of foreign investment activities;

6. To supervise and inspect the implementation of foreign investment activities in Vietnam in accordance with law.

Article 57.- The Ministries, ministerial-level agencies and agencies attached to the Government shall perform the State management over foreign investment according to the following functions and tasks:

1. To coordinate with the Ministry of Planning and Investment in elaborating laws, policies and plans concerning foreign investment;

2. To draw up the plans and lists of projects calling for foreign investment in their respective branches; organize the mobilization and promotion of investment capital;

3. To take part in evaluating investment projects;

4. To guide and settle the procedures concerning the deployment and implementation of investment projects;

5. To supervise and inspect the activities of enterprises with foreign invested capital and parties to business cooperation contracts under their management.

6. To perform other tasks within their jurisdiction as prescribed by law.

Article 58.- The People’s Committees of the provinces and the cities directly under the Central Government shall perform State management over foreign investment in their respective territories according to the following functions and powers:

1. Basing themselves on the socio-economic development plan already approved, to draw up and make public the list of investment projects calling for foreign investment in their respective localities; organize mobilization and promotion of investment capital;

2. To take part in evaluating foreign investment projects in their respective localities;

3. To receive investment project proposals, evaluate and grant Investment Licenses to foreign investment projects in their respective localities according to the assignment of responsibilities by the Government;

4. To settle administrative procedures concerning the formulation, deployment and implementation of investment projects under their jurisdiction;

5. To perform State management over the production and business activities of enterprises with foreign invested capital and the parties to business cooperation contracts in their respective territories;

6. To supervise and inspect the activities of enterprises with foreign invested capital and parties to business cooperation contracts.

Article 59.- The parties or one of the parties or the foreign investor must send to the Investment License granting agency the dossier applying for an Investment License which includes an application for an Investment License, a business cooperation contract or a joint venture contract, the enterprise’s Statute, the economic technical feasibility report and other related documents.

Article 60.- The Investment License granting agency shall consider the application and notify the investor of its decision not later than 60 days after receipt of the valid dossier. The approval shall be notified in the form of an Investment License.

The Investment License shall be as valid as the Business Registration Certificate.

Article 61.- The joint venture contract or the business cooperation contract, the enterprise's Statute and any change of the business objective, production scale, or the prescribed capital contribution ratio must be approved by the agency performing State management over foreign investment.

Article 62.- The Ministries, ministerial-level agencies, agencies attached to the Government and the People's Committees of the provinces and the cities directly under the Central Government shall have to settle the procedures related to the deployment of investment projects within 30 days after receipt of the valid dossier.

Article 63.- Foreign investors, enterprises with foreign invested capital, parties to business cooperation contracts, organizations, individuals, State employees and State agencies that violate the provisions of the Foreign Investment Law shall be dealt with as prescribed by law, depending on the seriousness of the violation.

Article 64.- Foreign investors, enterprises with foreign invested capital, parties to business cooperation contracts, organizations and individuals shall have the right to protest and initiate law suits against illegal decisions and acts; and acts of hassling by State employees and agencies. The protests and the filing of law suits and their settlement shall be carried out in accordance with the provisions of law.

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