Procedures for disclosing project information are not subject to policy approval

Article overview

Announcing project information that is not subject to policy approval helps businesses have autonomy in implementing projects, minimizing time and costs related to the approval process. This creates favorable conditions for businesses to quickly grasp market opportunities, optimize resources and increase competitiveness. At the same time, transparency of project information contributes to strengthening trust from partners and investors, promoting sustainable economic development.

Procedures for disclosing project information are not subject to policy approval
Procedures for disclosing project information are not subject to policy approval

What is a project that is not subject to investment policy approval?

Projects not subject to investment policy approval are projects that are not required to be approved by competent state agencies such as the National Assembly, the Prime Minister or the Provincial People’s Committee. These projects do not need to go through the investment policy approval procedure, they are usually smaller scale projects, not in sensitive fields or restricted industries.

Through the form of exclusion of the provisions in:

  • Article 30 of the Law on Investment 2020: Regulates projects that require approval from the National Assembly. These are often projects that have a great impact on national security, the country’s resources, or belong to industries with special conditions.
  • Article 31 of the Law on Investment 2020: Regulates that projects must be approved by the Prime Minister, usually large-scale projects related to important national fields.
  • Article 32 of the Law on Investment 2020: Regulates projects that require approval from the Provincial People’s Committee. These projects are medium and large in scale, but not to the extent that they require approval by the central level.

Thus, projects that are not subject to investment policy approval are projects that are not listed in the above three articles. Investors can evaluate their own projects based on exclusions under these provisions. This helps reduce administrative processes for smaller-scale projects, helping to attract investment and develop the local economy.

The project is not subject to investment policy approval
The project is not subject to investment policy approval

Procedures for announcing projects that are not subject to investment policy approval at the Provincial level

The procedure for disclosing project information that is not subject to investment policy approval is an important step so that project information is transparent and complies with legal regulations. This process helps investors conduct projects legally and access financial resources, as well as potential partners.

Documents need to be prepared

Document preparation is the first and most important step to ensure that your project is reviewed and processed on time. Documents needed to prepare include:

  • Project name; target; investment scale; investment capital;
  • Project implementation location; Current status of land use and area of ​​land for project implementation; land use purpose; approved planning targets;
  • Project duration and progress; preliminary investment phasing plan or project division (if any); Project implementation progress in each phase (if any);
  • Other related content;
  • Project implementation proposal: This is the main document that the investor needs to submit, which includes a commitment to be responsible for costs and risks if the project is not approved;
  • Documents proving legal status: Investors need to provide documents proving legal status, such as business registration license, information about the legal representative;
  • Documents proving financial capacity: One of the documents such as financial statements of the last two years, sponsorship commitment from the parent company or financial guarantee.

For investment projects, the dossier must clearly state specific information about the project name, objectives, investment scale, location, land use area, and implementation progress for easy review by competent authorities.

Reference content in Clause 2, Article 47 of the Law on Bidding 2023, Clause 1, Article 33 of the Law on Investment 2020.

Execution order

The procedure for announcing projects that are not subject to investment policy approval is divided into the following main steps:

Step 1: Submit application
Investors submit complete documents to the Department of Planning and Investment if the project falls under the jurisdiction of the Provincial People’s Committee. In case the project falls under the jurisdiction of the Economic Zone Management Board, the investor submits the application to the agency assigned this task by the Head of the Economic Zone Management Board.

Step 2: Review and process documents
Within 03 working days from receipt of the dossier, the Department of Planning and Investment reports to the Chairman of the Provincial People’s Committee or the person competent to designate a specialized agency for consideration. Relevant units need to coordinate to review the project’s suitability within 25 days of being assigned the task.

Step 3: Approve and publish information
After the project is approved, the competent authority will post project information on the National Bidding Network System within 05 working days.

Resolution deadline

The time to handle this procedure depends on the competent authority and the nature of the project. According to regulations:

  • 03 working days: From receiving the application, the Department of Planning and Investment will submit it to the Chairman of the Provincial People’s Committee or competent authority.
  • 25 working days: Allowed for specialized agencies to coordinate with relevant parties to review documents.
  • 05 working days: The maximum time for competent authorities to post project information after approval.

The total procedure time can last up to 33 working days. This ensures that the process is conducted transparently and in accordance with the law, according to Article 47 of the Law on Bidding 2023 and Article 38 of the Law on Investment 2020.

Competent authority

Competent agencies responsible for implementing procedures for disclosing project information that are not subject to investment policy approval include:

  • Provincial People’s Committee: Is the presiding agency for projects under the province’s jurisdiction.
  • Department of Planning and Investment: Is a unit under the Provincial People’s Committee, responsible for receiving and processing documents.
  • Economic Zone Management Board: For projects located in economic zones or industrial zones, the Economic Zone Management Board is the competent authority to receive documents and review the project.

These agencies are responsible for coordinating with each other to ensure that the project is implemented according to procedures and information is publicly disclosed.

Project announcement procedures are not subject to investment policy approval
Project announcement procedures are not subject to investment policy approval

Project information disclosure consulting services are not subject to policy approval at Long Phan

Long Phan’s consulting services help investors carry out project information disclosure procedures effectively and quickly, while ensuring the legality of your project.

  • Detailed advice on procedures for disclosing project information not subject to policy approval.
  • Prepare complete documents, ensure they are accurate and comply with regulations.
  • Support submission, monitor application processing progress and resolve arising problems if any.
  • Representing businesses in working with authorities.
  • Save time and ensure efficiency in the paper issuance process.

Long Phan’s consulting services ensure compliance with current legal regulations, helping customers complete procedures for disclosing project information that are not subject to investment policy approval quickly and legally. For detailed advice, please contact via the hotline: 0906735386 to receive the best support.