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Extension of investment project implementation time is an adjustment of the project’s operating term recorded on the Investment Registration Certificate. This is an important step to ensure foreign investment (FDI) companies complete projects as planned. To receive an extension, businesses need to fully meet the administrative procedure conditions.
Pursuant to Clause 4, Article 27 of Decree 31/2021/ND-CP, investors can apply for an extension of the investment project implementation time if the following conditions are met:
When the investor meets the above conditions, the competent authority approves the investment policy and the investment registration agency considers and decides to extend the operating term of the investment project.
Requesting an extension of the investment project implementation time must comply with the order and procedures specified in Clause 2, Article 55 of Decree 31/2021/ND-CP.
Based on Point a, Clause 2, Article 55 of Decree 31/2021/ND-CP, the application for extension of the investment project implementation time of an FDI company’s investment project includes:
Dossier to extend the investment project implementation time of an investment project of an FDI company is submitted to the following agency:
Case 1: For investment projects that have had investment policies approved, the enterprise submits documents to the Ministry of Planning and Investment or the Investment Registration Authority corresponding to the authority of the policy approval agency. invest.
Case 2: For investment projects that have been granted an Investment Registration Certificate and are not subject to investment policy approval, the enterprise submits documents to the Investment Registration Authority.
After submitting the application, the competent authority will review and resolve the extension application. Implementation steps include:
Step 1: Receive and check documents: The Ministry of Planning and Investment or the investment registration agency receives and checks the legality of the dossier;
Step 2: Get opinions and consider extension conditions: Within 3 days from the date of receiving a valid dossier, the Ministry of Planning and Investment or the investment registration agency sends the dossier to the land management agency and relevant agencies for comments. meeting the conditions to extend the investment project’s operating term (collecting opinions within 10 days from the date of receipt of valid documents);
Step 3: Prepare appraisal report: Within 15 days from the date of receipt of valid documents, the Ministry of Planning and Investment or the investment registration agency shall consider conditions for extending the operating term of the investment project and prepare an appraisal report to submit to the agency. investment policy approval authority;
Step 4: Decide to extend: Within 3 days from the date of receiving the report from the investment registration agency or the Ministry of Planning and Investment, the agency approving the investment policy shall decide to extend the operating term of the investment project.
For extending the investment project implementation time, according to Clause 2, Article 55 of Decree 31/2021/ND-CP within 30 working days from the date of receiving valid documents, the Ministry of Planning and Investment , the investment registration agency will prepare an appraisal report and the investment policy approval agency will issue a decision to extend the operating term of the investment project.
Pursuant to Clause 4, Article 44 of the Law on Investment 2020, it is stipulated that the following investment projects are not allowed to extend their operating term, specifically:
When an investment project is about to expire, the FDI company can carry out procedures to request an extension of the investment project implementation period. For the extension process to go smoothly, investors need to fully comply with the conditions and procedures according to the law. Through this article, Long Phan is always willing to support customers in the process of extending project implementation time as well as necessary notes for effective implementation. Our services include:
Extending the investment project implementation time is a necessary step to ensure continuity in the project development process, especially for FDI companies. Together with a team of experienced experts, Long Phan will support customers in effectively extending the investment project implementation period. Please contact the hotline immediately 0906735386 for more specific and detailed advice.
Note: The content of the articles published on the website of Long Phan Investment Consulting Company is for reference only regarding the application of legal policies. Depending on the time, subject, and amendments, supplements, and replacements of legal policies and legal documents, the consulting content may no longer be appropriate for the situation you are facing or need legal advice on. In case you need specific and in-depth advice according to each case or incident, please contact us through the methods below. With our enthusiasm and dedication, we believe that Long Phan will be a reliable solution provider for our clients.
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