There will be changes in investment approval procedures.

According to the Ministry of Finance , significant changes in investment approval procedures designed by the Ministry of Finance in the Draft Investment Law (replacing the current Investment Law) are attracting great attention from the business community.

According to the draft, the procedure for deciding on investment policies in the Investment Law creates consistency and synchronization of the legal system, avoiding the situation where the order and procedures for project implementation of specialized laws overlap, creating a transparent, clear, and accessible investment environment for investors.

Recently, many legal regulations related to investment and business in Vietnam in the fields of land, bidding, planning, housing, real estate business, electricity, science and technology, etc. have been amended and supplemented relatively comprehensively. The procedures for approving investment policies and selecting investors according to the provisions of the law on investment have caused some difficulties and problems in the implementation process.

Therefore, it is necessary to amend and perfect the regulations on investment policy approval procedures to remove difficulties and obstacles and speed up the implementation of investment policy approval procedures, ensuring consistency and synchronization with relevant legal regulations.

Workers at a company in Bac Giang . (Photo: Dong Thuy/VNA)

According to the latest Draft that is being consulted by the Ministry of Finance, cases that do not have to carry out procedures for approving investment policies are clearly regulated. These are investment projects that have been specifically identified in terms of project name, scale, objectives, location, investors, progress, and duration in the national or provincial sector planning; investment projects that select investors through the form of auctioning land use rights, bidding for investment projects using land... and some cases related to investors.

It can be seen that this procedure is only applied to projects that have a major impact on the environment or have the potential to seriously impact the environment, projects that affect national defense and security, investment projects in important areas such as seaports, airports, etc.

Recently, the debate on whether or not to abolish the investment policy approval procedure has been quite intense. The proposed abolishment opinion is that this procedure has no clear management objective, is ineffective, unpredictable, and overlaps with many other regulations...

On the contrary, many opinions are concerned that removing this procedure will potentially pose many risks in state management, cause damage to businesses, and affect the investment and business environment.

Approval of investment policy is a legal document that recognizes and guarantees the legitimate rights and interests of investors in implementing investment projects, ensuring the implementation of the State's commitments to investors on investment incentives and special policies approved by competent state agencies; at the same time, it stipulates the requirements and conditions for project implementation for investors.

Approval of investment policy is also a tool to screen sensitive projects that have impacts and influences on socio-economic development, national defense-security, and the environment, and is a tool to control, ensure safety and sustainable development.

In addition, the investment policy approval procedure integrates contents related to planning, land, environment, construction...

The state management agency for investment simultaneously appraises these contents right from the project preparation stage to reduce implementation time and costs compared to carrying out each independent procedure on land, planning, construction, etc.

Along with that, the implementation of investment policy approval procedures helps the state management agency on investment to review the overall investment project in relation to specialized legal regulations to assess the socio-economic efficiency and feasibility of the investment project.

However, to complete the draft Law, businesses continue to request clarification of the content of investment policy approval appraisal in the direction of elimination and simplification.

In particular, policy proposals related to investment approval procedures need to be placed within the overall system of legal documents regulating the implementation of investment projects to ensure consistency and clarity.

According to VNA/Vietnam+

Source: https://baoquangtri.vn/kinh-te/202509/se-co-nhung-thay-doi-trong-thu-tuc-chap-thuan-chu-truong-du-tu-3d6470d/