Cases requiring adjustment of Investment Certificate

Adjustment of Investment Certificate is a procedure performed when a project changes. Adjustments not only help businesses adapt to market changes but also create favorable conditions for project implementation, ensuring the effectiveness and sustainability of investment projects. The following article by Long Phan will analyze in detail the adjustment cases, noting the documents, authority, deadlines and procedures for the Adjustment of Investment Certificate.

In what cases should investment certificates be adjusted?

Pursuant to Article 40 and Clause 2, Article 41 of the Law on Investment 2020, the investment certificate is adjusted in case the adjustment of the investment project changes the content of the investment registration certificate. Specifically, the following contents of the Investment Certificate are changed:

• Change the name of the investment project
• Change investors
• Change investment project code
• Changing the location of investment projects and land area used
• Change the goals and scale of investment projects
• Change in investment capital of investment projects (including investors’ contributed capital and mobilized capital)
• Change the operating term of the investment project
• Change the progress of investment projects
• Change the form of incentives, investment support and application bases and conditions (if any)
• Change conditions for investors implementing investment projects (if any).

Note when making the adjustment of Investment Certificate

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Depending on the investment project, the documents needed to prepare to adjust the Investment Certificate will also be different.

1. The project is not subject to investment policy approval. Documents specified in Article 36 of Decree 31/2021/ND-CP include:

• Document requesting adjustment of investment project;
• Documents on the investor’s legal status;
• Documents proving financial capacity: Financial statements of the last 2 years, Commitment to financial support of the parent company, Commitment to financial support of financial institutions, Guarantee of financial capacity, Financial Other documents proving financial capacity;
• Updated investment project proposal: Investor information, Investment objectives and scale, Investment capital and mobilization plan, Location, deadline, implementation progress, Land use and labor needs Proposing investment incentives, assessing socio-economic impact and efficiency;
• Copies of land use rights documents or documents determining the right to use the project location.
• Explanation of technology used in the project (if subject to technology appraisal).
• BCC contract (for investment projects in the form of BCC).
• Other documents related to investment projects and conditions and capacity of investors according to legal regulations.

1. The project is subject to investment policy approval. Investors must carry out procedures to adjust investment policies in advance. Only then will the Investment Certificate be adjusted. Article 35 of Decree 31/2021/ND-CP specifically regulates this process.

About the competent authority

Pursuant to Article 39 of the Law on Investment 2020 and Article 34 of Decree 31/2021/ND-CP, which specifically stipulates the authority to receive documents to adjust the Investment Certificate as follows:

1. Projects in industrial parks, export processing zones, high-tech zones or economic zones: The Zone Management Board has the authority to make adjustments to the investment certificate.
2. Projects located outside industrial parks, export processing zones, high-tech zones, or economic zones: The Department of Planning and Investment of the province or city makes adjustments to the investment certificate.
3. The agency competent to make the adjustment of Investment Certificate is the investment registration agency located at the place where the investment project is directly implemented, or where the executive office for the investment project is expected to be located. with the following projects:

• Investment projects implemented in at least 02 provinces or more.
• Investment projects are implemented both inside and outside industrial parks, export processing zones, high-tech parks, and economic zones.
• Investment projects located in industrial parks, export processing zones, high-tech zones, or economic zones that do not have a Management Board, or are not within the management scope of the Management Board.

About the application submission deadline

• Investors should pay attention to the deadline for submitting investment certificate adjustment documents. Failure to carry out procedures to adjust the Investment Registration Certificate in case the adjustment of the investment project changes the content of the Investment Registration Certificate may result in a penalty as prescribed in Point b, Clause 1, Article 17. Decree 122/2021/ND-CP.
• The law does not specifically stipulate the deadline for submitting adjustment documents. However, investors should act immediately when there are changes. Delays may affect project operations. Regulators may detect discrepancies in information during inspection. This leads to the risk of being fined and causes difficulties for the project. Investors need to proactively carry out adjustment procedures promptly.

Procedures for adjustment of Investment Certificate

Pursuant to Article 35, Article 36, Article 47 of Decree 31/2021/ND-CP specifying the implementation process. The procedure for the adjustment of Investment Certificate will have two main cases:

Case 1. For projects subject to investment policy approval, the process includes 3 steps:

• Step 1: The investor submits a request for adjustment of the Investment Certificate to the competent authority granting adjustment.
• Step 2: The competent authority receives and collects opinions from relevant parties.
• Step 3: The investment registration agency adjusts the Certificate within 05 working days from the date of receiving the Decision approving the investment policy adjustment.

Case 2. For projects not subject to investment policy approval, the process includes 3 steps:

• Step 1: Investor submits application for adjustment of investment policy.
• Step 2: The competent authority receives and collects opinions from relevant parties.
• Step 3: The investment registration agency adjusts the Certificate within 03 working days from the date of receipt of the written request.

For cases of adjustment that do not fall under the provisions of Clause 1, Article 47 of Decree 31/2021/ND-CP:

• Step 1: The investor submits 01 set of registration documents to adjust the investment project.
• Step 2: Within 10 days from the date of receiving valid documents, the Investment Registration Authority adjusts the Investment Registration Certificate.

Consulting service on adjustment of Investment Certificate

Consulting services on adjustment of Investment Certificate support investors in following the correct procedures. With his experience, Long Phan can help customers save time and minimize the risk of errors during the process of adjustment of Investment Certificate. Services at Long Phan include:

• Consulting on cases where investment certificates must be adjusted
• Support in preparing necessary documents to adjust investment certificates
• Consulting and guiding the process of adjusting investment certificates for each project
• Customer representatives work directly with state agencies
• Consulting and answering questions that arise during the process of adjusting the certificate
• Post-adjustment support for related legal issues after completing procedures.
• Monitor application processing progress and return results to customers.

Adjustment of Investment Certificate requires full preparation of documents and compliance with legal regulations when adjusting the certificate. If you need detailed support on procedures for adjusting investment certificates, please contact Long Phan immediately via hotline. 0906735386. Long Phan is committed to providing the most professional and effective legal consulting services to you.