There are still concerns in thinking about implementing a post-control mechanism instead of a pre-control mechanism in special investment procedures.
Special investment procedures: “Green channel” must be truly “green”
There are still concerns in thinking about implementing a post-control mechanism instead of a pre-control mechanism in special investment procedures.
Questions such as “What should the management agency do, should it consider anything, should it have any comments when the investor sends a notice?”, “Is it necessary to increase the investor’s deposit requirement for peace of mind?...” continued to be raised at the meeting to collect comments on the Draft Decree detailing the Investment Law on special investment procedures, which took place recently at the Ministry of Planning and Investment. It is worth noting that the questions came not only from representatives of a number of ministries, branches, and industrial park management boards, but also from businesses. There were suggestions to list the provisions in the law, in related documents... in the decree, because “it is too open, so we are afraid and do not dare to do it”...
The fear of making mistakes and being held accountable seems to have not been resolved, putting considerable pressure on the process of perfecting mechanisms and policies, especially promoting the implementation of institutional breakthroughs in investment procedures. During the meeting, many times, the representative of the Draft Decree Drafting Committee (Ministry of Planning and Investment) had to reiterate the principle of the "green channel" procedure to create maximum convenience for investors.
Special investment procedures - often referred to as "green channels" - are new, breakthrough regulations applied to investment projects in the fields of semiconductor industry, high technology... in industrial parks, export processing zones, high-tech zones and economic zones. Accordingly, investors carry out investment registration procedures to be granted an Investment Registration Certificate within 15 days, without having to carry out a number of procedures to be granted licenses in the fields of construction, fire prevention, fire fighting and environmental protection. Compared to normal procedures, the time is shortened by about 260 days.
According to the Law amending and supplementing a number of articles of the Law on Planning, the Law on Investment, the Law on Investment under the form of public-private partnership and the Law on Bidding (Law No. 57) which takes effect from January 15, 2025, investors proposing to implement investment projects that meet the conditions can register for investment under the new regulations. Not only that, the "green channel" procedure is also applied to projects in operation, if they meet the conditions.
Currently, the Draft Decree has 10 articles designed in the direction of detailing the content of the investor's commitment to meeting the conditions, standards and regulations according to the provisions of the law on construction, environmental protection, fire prevention and fighting in the investment project registration document; stipulating the responsibility to fully implement the provisions in the Investment Registration Certificate and the commitments and enforcement sanctions. The role of the management agency in the special procedure is to proactively monitor, evaluate, detect and notify investors of issues arising during the implementation of the investment project; inspect and supervise the implementation of the project according to the Investment Registration Certificate and the investor's commitments...
Thus, the mechanical and rigid way of working “according to regulations, processes and procedures” will no longer have any place. And it is also very clear that the opportunity for projects in the high-tech sector that the Vietnamese economy is in need of attracting investment to shorten the implementation time and quickly put into operation has gradually become apparent.
The message of “removing institutional bottlenecks” is immediately implemented, which will create a very positive impression in the investment and business environment in Vietnam. However, this also means that state management agencies and implementing officials must immediately change their thinking and behavior towards the above projects, avoiding the situation of “the law is green” but “the implementation is… red”.
Source: https://baodautu.vn/thu-tuc-dau-tu-dac-biet-luong-xanh-phai-that-xanh-d232345.html
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