Proposal to reserve special procedures for high-tech investment projects

Proposal to reserve "special" procedures for high-tech investment projects

The Ministry of Planning and Investment proposes to provide special investment procedures for high-tech investment projects with short procedures and licensing within 15 days.

This new issue is raised in the Draft Law amending and supplementing a number of articles of the Law on Planning, the Law on Investment, the Law on Investment under the public-private partnership model, and the Law on Bidding, which the Ministry of Planning and Investment consulted on the afternoon of September 11 in Ho Chi Minh City.

Regarding the amendment of the Investment Law, the Ministry of Planning and Investment proposed three new policies related to investment.

Firstly, the Ministry of Planning and Investment proposed to promote the decentralization of investment policy approval to the provincial People's Committees. In particular, the Prime Minister's authority to approve investment policies to the provincial People's Committees for projects on construction and business of infrastructure of industrial parks; investment projects on construction of new ports and port areas with investment capital of VND 2,300 billion or less belonging to special seaports.

This decentralization aims to continue reforming administrative procedures, promoting decentralization of state management to localities, simplifying investment processes and procedures, creating favorable conditions to ensure project implementation progress, at the same time, enhancing the effectiveness and efficiency of state management, increasing the initiative and self-responsibility of localities; and limiting the number of projects that must be submitted to the Prime Minister.

The Ministry of Planning and Investment proposed many new points in the Draft amending and supplementing a number of articles of the Investment Law.

The second is to supplement regulations on the establishment of an Investment Support Fund and amend regulations on the termination of investment projects.

In the Draft Amendment to a number of articles of the Investment Law, the Ministry of Planning and Investment proposed to add regulations on the establishment of an Investment Support Fund to encourage and attract strategic investors, multinational corporations and support domestic enterprises in a number of areas that need investment incentives, increase the competitiveness and attractiveness of Vietnam's investment environment and adapt to changes in global minimum tax policies.

Regarding project termination, add point a1 after point a, clause 2, Article 48 to stipulate that the investment registration agency shall terminate or partially terminate the activities of the investment project in the case that after 12 months from the time of completion of progress at the office.
Investment policy approval

The amendment aims to create a clear legal basis, consistent with practice, to terminate activities for projects that have not been implemented for many years, causing land waste, contributing to freeing up resources to promote economic and social development.

Third, the latest issue proposed to be added to the Investment Law is special investment procedures for high-tech projects ( research and development centers; semiconductors, chips, new technology batteries ), investment in industrial parks, export processing zones, high-tech zones and functional areas in economic zones.

Regarding special investment procedures, the proposal is sent to the Management Board of industrial parks, export processing zones, high-tech zones, and economic zones. Within 15 days from the date of receipt of the dossier, the Management Board of industrial parks, export processing zones, high-tech zones... will issue an investment registration certificate.

The Ministry of Planning and Investment also proposed that investment projects registered under special procedures do not have to carry out procedures to obtain licenses, approvals, consents, permits, confirmations and other requirements in the fields of construction, environmental protection, technology transfer, fire prevention and fighting.

Investors are responsible for fully implementing commitments in accordance with requirements on standards and technical regulations as prescribed by law on construction, environmental protection, technology transfer, fire prevention and fighting.

Ms. Vu Thi Chau Quynh, Deputy Director of the Legal Department of the Ministry of Planning and Investment, said that this regulation is highly feasible, because these are narrow sectors that can only be implemented at the Management Boards of industrial parks and export processing zones where land is available, wastewater treatment systems are available, and fire prevention and fighting systems are available.

Source: https://baodautu.vn/de-xuat-danh-thu-tuc-dac-biet-cho-du-an-dau-tu-cong-nghe-cao-d224651.html