Procedures for termination of investment projects
1. General provisions on termination of investment projects
1.1. An investor shall terminate its/his/her investment activities and/or investment project in the following cases:
a) The investor decides to terminate the project;
b) The project has to be terminated according to the conditions set out in the contract or charter of the enterprise;
c) The project duration is over.
1.2. The investment registration authority shall termiante an investment project in part or in full in the following cases:
a) The investment project has been issued a written termination document by the investment registration authority or by the Prime Minister and the investor fails to overcome the difficulties that lead to project suspension.
b) The investor is no longer permitted to keep using the investment location and fails to complete the procedures for change of investment location within 06 months from the date on which the investor is no longer permitted to use the investment location, except for the case specified in Point d of 2.1;
c) The investment project has been suspended and the investment registration authority cannot contact the investor or the investor’s legal representative after 12 months from the date of suspension of the project;
d) Land reserved for the investment project is expropriated by the State for the reason that the land is not used or the land use is delayed in accordance with the law on land;
dd) The investor fails to pay the deposit or obtain a bank guarantee as prescribed by law if project execution security is requried;
e) The investor conducted the investment activities on the basis of a sham civil transaction in accordance with the civil law;
g) Pursuant to a judgement or decision of a court or an arbitration body.
1.3. Regarding a project subject to approval for investment policies, the investment registration authority shall terminate the investment project after obtaining the opinion of the authority granting approval for investment policies.
1.4. The investor shall itself liquidate the investment project in accordance with the law on liquidation of assets upon termination of the investment project. The handling of the land use rights and assets on the land upon termination of the investment project shall comply with the law on land and other relevant regulations of law.
2. Procedures on termination of an investment project
2.1. The investor decides to terminate the investment project himself/herself/itself
- Application composition:
+ Notice of investment project termination (template A.I.15 specified in Circular no. 03/2021/TT-BKHĐT).
+ Originals of issued Investment registration certificates/Decision on approval of (adjusting) investment policies (if any), Decision on (adjusting) investor approval (if any), Decision on approval of (adjusting) investment policies together with investor approval (if any).
Or, copies of Investment certificate/ Investment license/Business license (in case of enterprise still operates in accordance with the business information registered at the Investment certificate/ Investment license/Business license).
+ The investor’s decision on termination of the investment project (Decision and valid copy of meeting minutes of the Member’s Council/ General meeting of shareholders/ partnership membesr/ owners of economic organizaion that execute the investment project or other legal documents as prescribed by law).
2.2. The project has to be terminated according to the conditions set out in the contract or charter of the enterprise
- Application composition:
+ The same application dossier specified at 2.1.
+ A copy of the document recording the termination of the investment project’s operation.
3. Number of application dossier: 01 set.
4. Processing time: 15 working days from the receipt of the valid application.
5. Competent authority: Department of Planning and Investment.
