Procedures for extending the operating period of investment projects

Extending the operating period of investment projects helps investors continue implementing the project when the initial operating term is about to end. To successfully carry out this procedure, investors need to clearly understand the conditions for extension, documents to prepare, implementation process and decision authority. The article below will provide detailed information about procedures for extending the operating period of investment projects, and introduce Long Phan’s consulting services to support customers in this process.

Conditions for extending the operating period of investment projects

Conditions for extending the operating period of investment projects are specified in Clause 4, Article 27 of Decree 31/2021/ND-CP, except for the following projects:

• Investment projects using outdated technology have the potential to cause environmental pollution and are resource intensive;
• Investment projects in cases where the investor must transfer assets without compensation to the Vietnamese State or Vietnamese party.

Accordingly, investors who want to extend the project’s operating period need to meet the following conditions:

• In accordance with national planning, regional planning, provincial planning, urban planning and special administrative-economic unit planning (if any); consistent with urban development goals and orientations, housing development planning programs (for investment projects to build housing and urban areas);
• Meet the conditions for land allocation and land lease according to the provisions of land law (in case of request to extend land use).

Application for extension of operating period of investment project

To carry out the extension procedure, customers need to prepare a complete set of documents, including the following documents:

1. Document requesting extension of investment project’s operating term;
2. Decision approving the investment policy;
3. Investment registration certificate;
4. Investor approval decision or documents of equivalent legal value;
5. Certificate of land use rights or documents of equivalent legal value;
6. Documents proving the investor’s financial capacity include one of the following documents:

• Investor’s most recent 2-year financial statements;
• Commitment to financial support of the parent company;
• Commitment to financial support from financial institutions;
• Guarantee of investor’s financial capacity;
• Other documents proving the investor’s financial capacity.

Procedure for extending the operating period of investment projects

The process of extending the operating period of an investment project is carried out according to the following steps:

Step 1: Submit application.

The investor submits 04 sets of documents to the Ministry of Planning and Investment or the corresponding investment registration agency with authority to approve the project investment policy.

Step 2: Submit documents for comments.

Within 03 working days from the date of receiving the valid dossier specified in Point a of this Clause, the Ministry of Planning and Investment and the investment registration agency shall send the dossier to the land management agency and other agencies. Relevant authorities to get opinions on meeting the conditions.

Step 3: Get comments.

Within 10 days from the date of receiving the valid dossier, the consulted agency will give its opinion on meeting the conditions.

Step 4: Consider renewal conditions.

Within 15 days from the date of receipt of valid documents, the Ministry of Planning and Investment and the investment registration agency shall consider conditions for extending the operating term of the investment project.

Step 5: Prepare an appraisal report.

Step 6: Decide to extend.

Within 15 days from the date of receipt of valid documents, the Ministry of Planning and Investment and the investment registration agency shall consider conditions for extending the operating term of the investment project.

>>> See more: Instructions on procedures for adjusting investment projects in detail.

Consulting services and support for extending the operating period of investment projects

To ensure the renewal takes place smoothly, according to regulations and saves time, customers can use Long Phan’s consulting services.

Long Phan’s support services include:

• Consulting on conditions for extending the investment project’s operating time;
• Consulting on the operating term of each specific investment project;
• Consulting and support for extension applications;
• Guidance on the process of extending the operating period of investment projects;
• Representing customers in working with competent state agencies;
• Consulting and answering questions about requests to extend investment project operations.

Extending the operating period of an investment project is a procedure that requires investors to master the law and follow the correct process. Hopefully the above article has provided customers with useful information about this procedure. If you need detailed advice or use Long Phan’s support services, please contact the hotline: 0906735386 for the most detailed advice, and instructions.