Guidelines on supervision, assessment of foreign investment issued

Saturday, Feb 26, 2022 08:42

Weaving threads of Jasan Textile & Dyeing (Vietnam) Co Ltd in Pho Noi B Industrial Park in Hung Yen Province. The circular giving guidelines on the supervision and assessment of foreign investment activities in Viet Nam will take effect on April 1 this year. — VNA/VNS Photo Pham Kien

The Minister of Planning and Investment has issued a circular giving guidelines on the supervision and assessment of foreign investment activities in Viet Nam.

Accordingly, Circular 02/2022/TT-BKHDT is applicable to state management agencies related to foreign investment activities, including ministries, ministerial-level agencies, provincial-level People's Committees, investment registration agencies, agencies tasked with state management of investment in accordance with legal regulations on investment, foreign-invested economic organisations and projects operating in Viet Nam.

The circular stipulates the principles for foreign investment management, one of which is not to hinder or affect the normal operations of foreign-invested organisations and projects during the process of supervision and evaluation.

The Ministry of Planning and Investment (MoPI) is authorised to supervise and evaluate the enforcement of state management of foreign investment; conduct overall supervision and assessment of foreign-invested projects; and inspect foreign-invested projects that are approved by the Prime Minister and the National Assembly, large-scale projects with great influence on socio-economic development, and other projects under the direction of the Government or the Prime Minister.

According to the MoPI, ministries and ministerial-level agencies in charge of specialised management are responsible for sending reports on the supervision and assessment to the MoPI every year before March 1 in the year following the reporting year.

Meanwhile, the People's Committees of provinces and centrally-run cities are tasked with carrying out the overall supervision and assessment for foreign investment activities within their management.

The circular will take effect on April 1 this year, replacing Circular 09/2016/TT-BKHDT dated June 30, 2016. — VNS

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