The Ministry of Planning and Investment submitted the ninth draft investment law to the NA for debate.
Under the draft investment law, investment procedures will be more simplified under an expansion and decentralisation trend aimed at a transparent and convenient investment environment for different investors.
Accordingly, based on classification model, for so-called general investment projects, every investor is only required to register their investment activities so that they will be granted with investment registration certificates instead of making and submitting any project report.
Especially, for general projects, if domestic investors are allowed to carry them out, domestic investors that are not entitled to preferential investment policies and have an investment capital scale of under five billion dong are only required to register the investment without possessing any investment registration certificate.
In addition, there will be many more foreign invested projects to be registered and granted investment registration certificates within seven days from the time of receiving enough investment registration requests.
There will be other changes like decentralisation in investment registration certificate issuance and simplified investment procedures under the above draft investment law, which is better for local and foreign investors.
Also under the draft, if a project is approved to be granted with any state funding, the project will have to be closely and properly assessed and decided for investment