Investment supervision and assessment report
In accordance with the provision of the law, investors investing in Vietnam must comply not only with the conditions for foreign investors, but also with the regime of annual investment supervision and assessment reports.
The regime of annual investment supervision and assessment reports is an important basis for competent agencies to monitor the operation of enterprises.
Vinasc is a professional consulting firm, specializing in providing services to implement the regime of annual investment supervision and assessment reports for FDI enterprises.
Our services help FDI enterprises fully meeting the regulations to operate smoothly in Vietnam.
Therefore, in order to avoid sanctions and associated consequences, FDI enterprises need to fully implement the regime of annual investment supervision and evaluation reports.
Regarding the scope of the Annual investment supervision and assessement reports services, Vinasc will give advice and support enterprises the following information:
What are subjects of implementing investment supervision and assessment reports?
Pursuant to Article 72 of Investment Law 2020 stipulating the reporting regime for investment activities in Vietnam. Accordingly, the subjects of the reporting regime include:
- Ministries, Ministerial-level agencies, Provincial People’s Committees;
- Investment Registration Authority;
- Investors and economic organizations shall implement investment projects according to regulations.
Thus, investors and econmic organizations implementing investment projects in Vietnam will be subject to the regime of investment supervision and assessment reports.
What types of investment supervision and evaluation reports need to be prepared?
Pursuant to Clause 8 of Article 100 of Decree 29/2021/NĐ-CP, investors and economic organizations implementing investment projects in Vietnam shall prepare and send the following types of reports:
- Investment supervision and assessment before implementing project amendment;
- Báo cáo đánh giá kết thúc (nếu có);
- Final assessment report (if any);
When to prepare and submit a report:
– Periodic investment supervision and assessment report: Before July 10th of the reporting year;
– Annual investment supervision and assessment reports: Before February 10th of the next year of the reporting year;
– Investment supervision and assessment reports when adjusting the project: Before making adjustments to the project;
– Investment project results assessment reports: At the end of the investment project.
Contents of the investment supervision and assessment reports:
Vinasc Group will focus on reporting the following contents:
– Project information;
– Project implementation progress;
– Progress of the implementation of the objectives of the project;
– Progress of investment capital contribution;
– Progress of charter capital contribution;
– Source of capital;
– The implementation of regulations that meet the conditions of economic organizations;
– The situation of implementation of incentives;
– Current situation of project exploitation and operation;
– Current situation of using and fulfilling obligations to employees;
– Current situation of fulfilling obligations to the state budget;
– Profit situation and corporate financial summary;
– Issues, difficulties, and entanglements of the project.
The reports receiving agency:
After the customer signs and sends back completely all dossiers to Vinasc, we will proceed to submit the investment supervision and assessment reports to the investement registration agency.
Specifically:
– Inside of industrial parks, export processing zones, hi-tech parks, economic zones: Management boards of industrial parks, export processing zones, hi-tech parks, economic zones.
– Outside of industrial parks, export processing zones, hi-tech parks, economic zones: The Department of Planning and Investment.
Why should enterpises implement the investment supervision and assesssment reports?
On December 28th, 2021, the Government issued Decree 122/2021/NĐ-CP stipulating the sanction of administrative violations for violations of the reporting regime as follows:
“Article 10. Violations against regulations on reporting investment supervision and assessment
1. A fine of between VND 20,000,000 and VND 30,000,000 shall be imposed for any of the following violations:
a) Failure to making reports on investment supervision and assessment on time or with sufficient contents as prescribed;
b) Failure to update reports on investment supervision and assessment on the national portal on investment supervision and assessment.
2. A fine of between VND 30,000,000 and VND 50,000,000 shall be imposed for any of the following violations:
a) Failure to comply with regulations on reporting investment supervision and assessment on a periodic basis as prescribed;
b) Making untruthful and inaccurate investment supervision and assessment reports.
Remedial measures:
a) Forcible supplementation of insufficient information in cases where investment supervision and assessment reports fail to contain sufficient contents, for the violations specified at Point a, Clause 1 of this Article;
b) Forcible updating of investment supervision and assessment reports on the national portal on investment supervision and assessment, for the violations specified at Point b, Clause 1 of this Article;
c) Forced compliance with regulations on reporting investment supervision and assessment on a periodic basis as prescribed, for the violations specified at Point a, Clause 2 of this Article.”
Thus, in case investors and economic organizations do not fully implement the reporting regime, they may be sanctioned for administrative violations. Fines can be up to VND 50,000,000 and other additional sanctions.
Why should you use VinaSC’s investment supervision and assessment reports services?
- VinaSC with a team of experienced staff in many fields will advise and support to solve legal issues related to investment supervision and assessment reports.
- Thorough understanding of the legal provisions on the regime of investment supervision and assessment reports helps to simplify the procedure and save time in preparing documents.
- Our personnel can meet the needs of foreign languages communication.
- VinaSC’s service cost is consistent with the quality of service that customers receive.
Please contact us for timely advice and support.
