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New Decree issued on overseas investment

Released at: 11:40, 06/10/2015

New Decree issued on overseas investment

Decree notes paperwork required and procedures to be followed by Vietnamese enterprises investing overseas.

by Hoai An

The government has recently issued Decree No. 83/2015/ND-CP on overseas investment, detailing procedures and State management.

Investors are permitted to invest in other countries as stipulated in Article 64 of the Law on Investment. They may transfer foreign currency, goods, and machinery and equipment prior to being granted a registered certificate for foreign investment to determine the project’s operating costs, including conducting market research, participating in international bidding, making deposits or other forms of financial guarantees, and paying fees and charges at the request of the tender or the country and region receiving the investment.

The transfer of foreign currency, goods, and machinery and equipment must comply with the provisions of respective laws relating to foreign exchange, export, customs, and technology.

The transferred amount of foreign currency prior to being granted a registered certificate for foreign investment must not exceed 5 per cent of the total investment and be no more than $300,000.

The Decree also lists five types of investment projects that must have documents confirming the location of the project: energy; aquaculture, fishing and forestry processing; mining and mineral processing; construction of factories and infrastructure; and real estate.

Such documents must include one of the following: investment licenses or equivalent documents from the country or territory receiving the investment that identifies the location and size of the land used, and a decision on land allocation and lease from authorized agencies and organizations.

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