Instructions for extending the investment project implementation time for FDI enterprises

Article overview

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.

Extend investment project implementation timeExtend investment project implementation time
Extend investment project implementation time

Conditions for extending the investment project implementation time of FDI companies

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:

  • Compatible with planning at all levels: national planning, regional planning, provincial planning, urban planning and special administrative-economic unit planning (if any);
  • Consistent with urban development goals and orientations and 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).

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.

Procedures for extending the implementation of investment projects of FDI companies

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.

Prepare documents

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:

  1. Written request for extension of the 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 from the parent company or financial institution;
  • Guarantee documents about the investor’s financial capacity or other documents proving the investor’s financial capacity.

Competent agencies receive and process extension applications

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.

Renewal implementation process

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.

Resolution deadline

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.

Procedure for the extension of investment project implementation time
Procedure for the extension of investment project implementation time

Cases where investment project implementation is not extended

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:

  • 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.
Projects are not renewed
Projects are not renewed

Consulting and support services for extending the investment project implementation time for FDI companies in Long Phan

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:

  • Consulting on legal regulations related to extending investment project implementation time, helping businesses clearly understand their rights and obligations;
  • Support customers in preparing and drafting necessary documents such as written requests to extend the operating term of investment projects;
  • Representative of the enterprise to carry out extension procedures at the competent state agency;
  • Answer questions throughout the implementation process, after extending the investment project implementation period;
  • Deliver and receive results at home, free of charge within Ho Chi Minh City.

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.